August 21
- MALAYAN BANKING BHD [] (Maybank) has appointed Sreesanthan Eliathamby, Datuk Johan Ariffin, Cheah Teik Seng and Alister Maitland as its new independent directors. It said the appointments would take effect from Aug 26 and bring to more than half the number of independent directors on the Maybank board.
- TELEKOM MALAYSIA BHD [] posted a net profit of RM265.97 million in the second quarter ended June 30, 2009 from RM273.17 million a year ago. Revenue was RM2.13 billion, up 0.9% from RM2.11 billion a year ago, it said on Aug 21. Earnings per share were 7.6 sen compared with 7.9 sen.
- Automotive-oil and gas company UMW HOLDINGS BHD []’s second quarter net profit dropped 47.6% to RM79.43 million from RM151.73 million a year ago, as spending by consumers and industrial sectors shrank.
- The Securities Commission (SC) wants a stiffer fine as a deterrent for former Megan Media Holdings Bhd (MMHB) employee Kok Hen Sen @ Kok Liew Sen for abetting the company to submit false revenue figures of over RM1 billion. The SC had on Aug 21 filed an appeal against the Kuala Lumpur Sessions Court's sentence on Kok after he pleaded guilty to furnishing false information on the revenue.
- The Small and Medium Industries Development Corporation (SMIDEC), which was renamed as SME Corp, will start operations on Sept 1 with current chief executive officer (CEO) Datuk Hafsah Hashim and chairman Datuk Mohamed Al-Amin Abdul Majid in charge of the operations as the government steps up its focus on developing SMEs, according to Deputy Prime Minister Tan Sri Muhyiddin Yassin.
August 20
- YTL CORPORATION BHD []’s net profit was halved to RM75.97 million year-on-year in the fourth quarter ended June 30, 2009 due to deferred RM443 million tax charge, while its full-year profit was up 12% to RM863.12 million, aided by two important acquisitions in Singapore.
- Asia’s recovery from the global recession, which will be led by China, India, Vietnam and Indonesia, may be threatened by a resurgence in inflation and higher interest rates, according to Standard and Poor.
- The Public Accounts Committee has found an “unusual” debt financing agreement between the four special purpose vehicles (SPVs) set up to raise funds for the Port Klang Free Zone (PKFZ) project, Kuala Dimensi Sdn Bhd (KDSB) and client PKFZ Sdn Bhd, where the bond was issued by the SPVs of privately-owned KDSB which were in a contract to help the government develop the PKFZ.
- PLUS EXPRESSWAYS BHD [] toll compensation recoverable from the government increased to RM2.18 billion as at June 30 this year from RM1.91 billion as at end-December 2008. Net profit for the 2Q ended June 30 increased to RM281.33 million from RM266.04 million a year ago.
- AFFIN HOLDINGS BHD [] posted a 44% increase in net profit of RM89.82 million in the second quarter ended June 30, 2009, from RM62.36 million a year ago, due to higher net interest income while there was decline in loan loss provision. Revenue fell 9% to RM490.6 billion from RM539.07 billion. Earnings per share were 6.01 sen compared with 4.18 sen.
August 19
- Unlisted motor trading, automotive franchisee and property development conglomerate Naza Group is likely to take over consturction oufit KUMPULAN JETSON BHD [] as the group is said to have purchased a large stake in Kumpulan Jetson, marking its entry into the listed company arena.
- Malaysian Aica (Maica) Bhd’s successful hire purchase business which buoyed its earnings in the fiscal year of 2009, is linked to Spanco Bhd, which supplies vehicles to the local civil service.
- Exxon Mobil Corp’s “landmark” US$41 billion (RM145.14 billion) deal to supply PetroChina Gas Co with 45 tonnes of liquefied natural gas over 20 years may also ease Chinese-Australian tensions.
August 18
- Managers of Unico-Desa PLANTATION []s Sdn Bhd faced a volley of questions from minorities in a fiery AGM regarding a lawsuit filed by Soh Choo @ Soh Ai Choo alleging that Unico-Desa, via its subsidiary ELK-Desa Marketing Sdn Bhd, acquired about 9.45 million shares in parent company Unico Holdings Bhd for an allegedly written-down price of RM15.3 million which was then transferred to two related companies that in turn sold the shares to companies related to certain Uncio-Desa directors.
- Alan Greenspan predicts the US economy is probably due for strong quarters of economic growth to close out 2009, but this recovery may falter next year.
August 17
- Asian markets closed sharply lower on profit-taking yesterday weighed down by weaker US consumer confidence and concerns that markets have run ahead of fundamentals led by the Shanghai Composite Index, which has risen 58% year-to-date.
- EKRAN BHD [] is set to invest an estimated US$15million (RM 53.3 million) to US$20 million to reopen the Samal Casino Resort in southern Phillipines this year, which was closed in 2000 following the Asian financial crisis.
- Wall Street firms are resuming their recruitment for commodity traders with promises of US$1 million (RM3.55 million) in bonuses as raw material prices double.
2009年8月22日星期六
2009年8月15日星期六
Business This Week (August 10-14)
August 14
- SUNRISE BHD [ SUNRISE 2.090 0.010 (0.481%)] posted net profit of RM43.15 million in the fourth quarter ended June 30, 2009 and is confident of its prospects for the new financial year given its substantial locked-in unbilled sales of RM892 million as at July 31. It said revenue for 4Q was RM237.35 million while earnings per share (EPS) were 8.72 sen. It proposed a dividend of three sen per share.
- HAP SENG CONSOLIDATED BHD [ HAPSENG 2.550 -0.020 (-0.778%) ] clarified that its acquisition of a 50% stake in Inverfin Sdn Bhd, which owns Menara Citibank, would amount to RM235.39 million on an illustrative basis.
- The New Straits Times Press (Malaysia) Bhd announced that pre-tax profit was RM10.7 million for 2Q against a pre-tax loss of RM2.8 million in 1Q ended March 31.
August 13
- SCOMI GROUP BHD [ SCOMI 0.685 -0.030 (-4.196%]’s 2Q net profit slid 40% year-on-year to RM20.85 million from RM34.54 million a year ago.
- WELLCALL HOLDINGS BHD [ WELLCAL 1.300 -0.120 (-8.451%)]’s net profit for 3Q ended June 30, 2009 fell 19.95% to RM3.13 million from a year ago.
- TIME ENGINEERING BHD [ TIME 0.285 0.010 (3.636%)] reported a net profit of RM6.9 million in the 2Q ended June 30, 2009, versus a net loss of RM2.36 million a year earlier.
- PARAMOUNT CORPORATION BHD [ PARAMON 2.520 0.100 (4.132%) ]’s net profit rose 40% to RM17.91 million in its 2Q ended June 30, 2009 from RM12.75 million a year ago.
- GREEN PACKET BHD [ GPACKET 0.845 0.000 (0.000%) ]’s net loss widened to RM27.87 million in its second quarter ended June 30, 2009 from RM4.89 million a year agor.
- Aeon Co (M) Bhd recorded higher net profit of RM19.4 million for the second quarter ended June 30, 2009, from RM18.88 million a year ago.
- Former managing director of Ho Hup CONSTRUCTION [Not Available] Co Bhd Datuk Low Tuck Choy filed two legal suits against the company, claiming the current management acted in a way that has caused losses to the construction outfit.
- China-based sportswear manufacturer XiDeLang Holdings Ltd announced plans to raise at least RM100 million from its upcoming initial public offering (IPO) in September.
- Maybank Islamic Bhd (MIB) launched a special syariah-compliant trade finance solution named Collateral Management Arrangement-i (CMA-i).
- LCL CORPORATION BHD [ LCL 0.875 -0.055 (-5.914%) ]’s subsidiary, LCL Furniture Sdn Bhd secured a RM10.62 million renovation and refurbishment contract from Berjaya Langkawi Beach Resort Sdn Bhd.
August 12
- AIRASIA BHD [ AIRASIA 1.450 -0.010 (-0.685%) ] posted a net profit of RM139.18 million for the 2Q, significantly higher than the RM9.42 million in the previous corresponding period.
- Malaysia Smelting Corp Bhd’s (MSC) 2Q net profit jumped 130.9% to RM6.99 million from RM3.03 million a year ago.
- SCOMI ENGINEERING BHD [ SCOMIEN 1.610 -0.050 (-3.012%) ]’s net profit in 2Q ended June 30, 2009 more than doubled to RM19.22 million from RM8.89 million a year earlier.
- Bousted Heavy Industries Corp (BHIC) secured a Defence Ministry contract worth RM703.82 million job to undertake the service life extension programme of two corvettes.
- KONSORTIUM LOGISTIK BHD [ KONSORT 1.610 0.000 (0.000%) ] (KLB) reported a 1.5% increase in 2Q net profit to RM9.49 million from RM9.35 million a year earlier.
- BUMIPUTRA-COMMERCE HOLDINGS [ COMMERZ 10.740 -0.040 (-0.371%) ] Bhd (BCHB) posted net profit of RM663.15 million for 2Q ended June 30, 2009, an improvement from RM650.15 million a year ago.
August 11
- AMMB HOLDINGS BHD [ AMMB 4.220 0.000 (0.000%) ]’s net profit for the first quarter ended June 30, 2009 (1Q10) rose 27.3% to RM258.24 million from RM202.9 million a year earlier.
- MALAYSIAN RESOURCES CORP [ MRCB 1.410 -0.040 (-2.759%) ] Bhd will undertake a RM2.14 billion mixed development within the Kuala Lumpur Sentral (KL Sentral) enclave.
- Japanese silicon maker Tokuyama Corp will invest ¥65 billion (RM2.4 billion) in a planned plant in Malaysia to boost its polysilicon production capacity by 75% and meet demand from solar cell makers.
-Tan Sri Robert Tan Hua Choon acquired an additional 1.37 million shares in the company, raising his shareholding to 35.33% or 21.87 million shares.
- SCOMI MARINE BHD [ SCOMIMR 0.620 -0.030 (-4.615%)]'s net profit for the 2Q ended June 30, 2009, grew 55% to RM22.48 from RM14.52 million a year earlier.
August 10
- Prime Minister Datuk Seri Najib Razak said during the World Capital Markets Symposium that global regulators should err on the side of investor protection and financial stability.
- Bumiputra-Commerce Holdings Bhd (BCHB) proposed to have its name changed to CIMB Group Holdings Bhd at an EGM.
- GLOMAC BHD [ GLOMAC 1.090 -0.030 (-2.679%) ]’s unit Glomac Realty Sdn Bhd (GR) entered into a sale and purchase agreement (SPA) with Koperasi Kakitangan Bank Rakyat Bhd (SekataRakyat) for the sale of its Block B nine-storey office building in Glomac Business Centre for RM22.6 million.
-June's industrial production output (IPI) fell 9.6% from a year ago, due to a decline in the manufacturing output.
- SUNRISE BHD [ SUNRISE 2.090 0.010 (0.481%)] posted net profit of RM43.15 million in the fourth quarter ended June 30, 2009 and is confident of its prospects for the new financial year given its substantial locked-in unbilled sales of RM892 million as at July 31. It said revenue for 4Q was RM237.35 million while earnings per share (EPS) were 8.72 sen. It proposed a dividend of three sen per share.
- HAP SENG CONSOLIDATED BHD [ HAPSENG 2.550 -0.020 (-0.778%) ] clarified that its acquisition of a 50% stake in Inverfin Sdn Bhd, which owns Menara Citibank, would amount to RM235.39 million on an illustrative basis.
- The New Straits Times Press (Malaysia) Bhd announced that pre-tax profit was RM10.7 million for 2Q against a pre-tax loss of RM2.8 million in 1Q ended March 31.
August 13
- SCOMI GROUP BHD [ SCOMI 0.685 -0.030 (-4.196%]’s 2Q net profit slid 40% year-on-year to RM20.85 million from RM34.54 million a year ago.
- WELLCALL HOLDINGS BHD [ WELLCAL 1.300 -0.120 (-8.451%)]’s net profit for 3Q ended June 30, 2009 fell 19.95% to RM3.13 million from a year ago.
- TIME ENGINEERING BHD [ TIME 0.285 0.010 (3.636%)] reported a net profit of RM6.9 million in the 2Q ended June 30, 2009, versus a net loss of RM2.36 million a year earlier.
- PARAMOUNT CORPORATION BHD [ PARAMON 2.520 0.100 (4.132%) ]’s net profit rose 40% to RM17.91 million in its 2Q ended June 30, 2009 from RM12.75 million a year ago.
- GREEN PACKET BHD [ GPACKET 0.845 0.000 (0.000%) ]’s net loss widened to RM27.87 million in its second quarter ended June 30, 2009 from RM4.89 million a year agor.
- Aeon Co (M) Bhd recorded higher net profit of RM19.4 million for the second quarter ended June 30, 2009, from RM18.88 million a year ago.
- Former managing director of Ho Hup CONSTRUCTION [Not Available] Co Bhd Datuk Low Tuck Choy filed two legal suits against the company, claiming the current management acted in a way that has caused losses to the construction outfit.
- China-based sportswear manufacturer XiDeLang Holdings Ltd announced plans to raise at least RM100 million from its upcoming initial public offering (IPO) in September.
- Maybank Islamic Bhd (MIB) launched a special syariah-compliant trade finance solution named Collateral Management Arrangement-i (CMA-i).
- LCL CORPORATION BHD [ LCL 0.875 -0.055 (-5.914%) ]’s subsidiary, LCL Furniture Sdn Bhd secured a RM10.62 million renovation and refurbishment contract from Berjaya Langkawi Beach Resort Sdn Bhd.
August 12
- AIRASIA BHD [ AIRASIA 1.450 -0.010 (-0.685%) ] posted a net profit of RM139.18 million for the 2Q, significantly higher than the RM9.42 million in the previous corresponding period.
- Malaysia Smelting Corp Bhd’s (MSC) 2Q net profit jumped 130.9% to RM6.99 million from RM3.03 million a year ago.
- SCOMI ENGINEERING BHD [ SCOMIEN 1.610 -0.050 (-3.012%) ]’s net profit in 2Q ended June 30, 2009 more than doubled to RM19.22 million from RM8.89 million a year earlier.
- Bousted Heavy Industries Corp (BHIC) secured a Defence Ministry contract worth RM703.82 million job to undertake the service life extension programme of two corvettes.
- KONSORTIUM LOGISTIK BHD [ KONSORT 1.610 0.000 (0.000%) ] (KLB) reported a 1.5% increase in 2Q net profit to RM9.49 million from RM9.35 million a year earlier.
- BUMIPUTRA-COMMERCE HOLDINGS [ COMMERZ 10.740 -0.040 (-0.371%) ] Bhd (BCHB) posted net profit of RM663.15 million for 2Q ended June 30, 2009, an improvement from RM650.15 million a year ago.
August 11
- AMMB HOLDINGS BHD [ AMMB 4.220 0.000 (0.000%) ]’s net profit for the first quarter ended June 30, 2009 (1Q10) rose 27.3% to RM258.24 million from RM202.9 million a year earlier.
- MALAYSIAN RESOURCES CORP [ MRCB 1.410 -0.040 (-2.759%) ] Bhd will undertake a RM2.14 billion mixed development within the Kuala Lumpur Sentral (KL Sentral) enclave.
- Japanese silicon maker Tokuyama Corp will invest ¥65 billion (RM2.4 billion) in a planned plant in Malaysia to boost its polysilicon production capacity by 75% and meet demand from solar cell makers.
-Tan Sri Robert Tan Hua Choon acquired an additional 1.37 million shares in the company, raising his shareholding to 35.33% or 21.87 million shares.
- SCOMI MARINE BHD [ SCOMIMR 0.620 -0.030 (-4.615%)]'s net profit for the 2Q ended June 30, 2009, grew 55% to RM22.48 from RM14.52 million a year earlier.
August 10
- Prime Minister Datuk Seri Najib Razak said during the World Capital Markets Symposium that global regulators should err on the side of investor protection and financial stability.
- Bumiputra-Commerce Holdings Bhd (BCHB) proposed to have its name changed to CIMB Group Holdings Bhd at an EGM.
- GLOMAC BHD [ GLOMAC 1.090 -0.030 (-2.679%) ]’s unit Glomac Realty Sdn Bhd (GR) entered into a sale and purchase agreement (SPA) with Koperasi Kakitangan Bank Rakyat Bhd (SekataRakyat) for the sale of its Block B nine-storey office building in Glomac Business Centre for RM22.6 million.
-June's industrial production output (IPI) fell 9.6% from a year ago, due to a decline in the manufacturing output.
2009年8月9日星期日
More than 1.4b AS1M units sold
More than 1.4 billion units of the new unit trust fund Amanah Saham 1Malaysia (AS1M) were subscribed within two days of its launch.
Permodalan Nasional Bhd (PNB) president and group chief executive Tan Sri Hamad Kama Piah Che Othman said the take-up rate was within expectations, given the fund size and the minimum subscription limit of 50,000 for those below 55 years old and 100,000 units limit for those above 55.
AS1M is a 10 billion-unit fixed price fund of RM1 per unit, with features similar to that of Amanah Saham Wawasan 2020 (ASW 2020) and Amanah Saham Malaysia (ASM).
“We will be adopting similar strategies for AS1M as with ASW 2020 and ASM and we hope for AS1M to perform as well as the other two funds which have exceeded their benchmark,” Hamad Kama Piah said in a statement yesterday.
He said ASW 2020 had declared annual income distribution ranging from 6.6 per cent and 8.8 per cent, while ASM has consistently paid out income distribution ranging from 6.25 per cent and 7.8 per cent.
Both ASW 2020 and ASM are benchmarked against the three-month Klibor, which has been averaging at 3.07 per cent for the past 10 years.
AS1M, meanwhile, is benchmarked against the average five-year Malaysian Government Securities, which now yields about 3.72 per cent.
This year, PNB has opened for subscription an additional two billion units of ASW 2020, 3.33 billion units of ASM and 10 billion units of AS1M.
“We would like to ensure the success of all our existing funds before we decide on other funds’ expansion,” Hamad Kama Piah said.
(From Business Times 2009/08/08)
Permodalan Nasional Bhd (PNB) president and group chief executive Tan Sri Hamad Kama Piah Che Othman said the take-up rate was within expectations, given the fund size and the minimum subscription limit of 50,000 for those below 55 years old and 100,000 units limit for those above 55.
AS1M is a 10 billion-unit fixed price fund of RM1 per unit, with features similar to that of Amanah Saham Wawasan 2020 (ASW 2020) and Amanah Saham Malaysia (ASM).
“We will be adopting similar strategies for AS1M as with ASW 2020 and ASM and we hope for AS1M to perform as well as the other two funds which have exceeded their benchmark,” Hamad Kama Piah said in a statement yesterday.
He said ASW 2020 had declared annual income distribution ranging from 6.6 per cent and 8.8 per cent, while ASM has consistently paid out income distribution ranging from 6.25 per cent and 7.8 per cent.
Both ASW 2020 and ASM are benchmarked against the three-month Klibor, which has been averaging at 3.07 per cent for the past 10 years.
AS1M, meanwhile, is benchmarked against the average five-year Malaysian Government Securities, which now yields about 3.72 per cent.
This year, PNB has opened for subscription an additional two billion units of ASW 2020, 3.33 billion units of ASM and 10 billion units of AS1M.
“We would like to ensure the success of all our existing funds before we decide on other funds’ expansion,” Hamad Kama Piah said.
(From Business Times 2009/08/08)
2009年8月8日星期六
BJCORP (3395) - Buy in at RM 0.92
Very strong support at RM 0.92 try buy in at this value.
Next resistance is RM1.02 take profit at this value.
2009年8月7日星期五
Business This Week (August 3-7)
Aug 7
HAP SENG CONSOLIDATED BHD [ HAPSENG 2.550 0.010 (0.394%)] Stock Summary Time & Sales Historical Prices Business Summary Announcement is buying a 50% stake in Menara Citibank for RM303.5 million from Singapore's CapitaLand Ltd and Amsteel Corporation Bhd. It is acquiring CapitaLand's entire 30% stake in Inverfin Sdn Bhd -- owner and operator of the 50-storey building in Kuala Lumpur. It was also acquiring the entire 20% stake in Inverfin from Amsteel. Menara Citi Holding Co. Sdn Bhd owns the other 50% stake in Inverfin.
Land and General Bhd (L&G), which completed its debt repayment recently, said it would continue to focus on its core business of property development, including joint projects with land owners. “We are (already) in talks with land owners (in Klang Valley) and are in the final stage of discussions on the joint ventures. We as developer, they as land owners,” said its managing director Low Gay Teck. Low said L&G's immediate strategy was to enhance the value of its flagship property, the 1,200-acre Bandar Sri Damansara township.
Aug 6
Amid a turbulent operating environment, MALAYSIAN AIRLINE SYSTEM BHD [ MAS 3.200 0.100 (3.226%) ] posted a net profit of RM875.51 million in the second quarter (2Q) ended June 30, aided by a RM1.34 billion derivatives gain. Operationally, however, MAS posted a worse-than-expected loss of RM420.8 million as travel and cargo demand declined amid the global economic downturn that has dragged even the world’s best carriers, including Singapore Airlines, into the red.
Boustead Petroleum Marketing Sdn Bhd (BHPetrol) will market its RON95 — infiniti952x — at all its 300 stations nationwide by Sept 1, 2009 to replace RON92.
Speaking at the launch of BHPetrol’s RON95 here yesterday, BHPetrol’s managing director, Tan Kim Thiam, said infiniti95²x comprised an additive package that was made up of “detergent and anti-corrosion components together with friction modifier”.
FORMIS RESOURCES BHD [ FRB 1.190 0.010 (0.847%) ] has secured a RM69.98 million one-year contract to supply, install and commission an integrated e-courts system, called e-Kehakiman, for the country’s courtrooms. Formis said the contract, covering courtrooms in Selangor, Kuala Lumpur, Putrajaya, Johor, Penang and Sarawak, required it to design and set up three systems, encompassing e-filing, case management and queue management system, and court recording and transcription.
AIRASIA BHD [ AIRASIA 1.430 0.010 (0.704%) ] has deferred the delivery of eight Airbus A320 from the year 2010 to 2014 as it foresees infrastructural constraints with the current airport facilities and until the new low-cost carrier terminal is constructed. The low-cost carrier said on Aug 6 that with the deferment, the original delivery of 24 aircraft in 2010 would be reduced to 16 aircraft.
Aug 5
TSR CAPITAL BHD [ TSRCAP 1.350 -0.040 (-2.878%) ] received the Negri Sembilan government’s approval yesterday to develop a tax-free mall and a custom, immigration and quarantine (CIQ) complex as well as tourism-related projects in the centre of Port Dickson with a gross development value (GDV) of RM1.8 billion. TSR said the development entailed a free-tax mall, CIQ complex, international ferry terminals, aquarium and water theme park, hotels and convention centre, theme shops, medical centre and apartments.
AHMAD ZAKI RESOURCES BHD [ AZRB 0.910 -0.025 (-2.674%) ] subsidiary Ahmad Zaki Sdn Bhd has been awarded a RM106 million contract by the Works Department for an elevated interchange from Istana Negara to Jalan Duta. AZRB said the project would be completed within 18 months from Aug 10, 2009 to Feb 9, 2011. It expects the project to contribute positively to its earnings for the financial years ending 2009-2011.
Bursa Malaysia reserves the right to extend the trading halt period of a listed company’s securities beyond the shortened period of one hour that took effect on Monday.
Bursa said it reserved the right to extend the halt for the rest of the trading session, or such other period as deemed appropriate by the exchange, to enable sufficient time for dissemination and understanding of complex announcements.
The major shareholders of The New Straits Times Press (M) Bhd (NSTP) are mulling various ideas and plans to enhance shareholder value, including a possible privatisation of the company, demerger and spin-off. NSTP said, however, its major shareholders have not committed to a date or made a firm decision regarding such plans.
Aug 4
Prime Minister Datuk Seri Najib Tun Razak launched the country's first Special Economic Zone (SEZ) in Pekan, Pahang on Aug 4 in a move to generate investments of RM90 billion by 2020 and creating 220,000 new jobs. The SEZ, which is part of the East Coast Economic Region (ECER), is an integrated development zone with special incentives to attract investments and boost economic activities. The SEZ stretches from Kertih, Chukai, Kuantan Port City, Kuantan, Gambang to Pekan.
The Australia and New Zealand Banking Group Limited (ANZ) has emerged as AMMB HOLDINGS BHD [ AMMB 4.150 -0.120 (-2.810%) ]’s largest shareholder with a 24.6% stake, up from 19.2% previously, after converting its entire holdings of RM575 million unsecured subordinated exchangeable bonds into shares. Taking into account the special issue of 96.3 million new AMMB shares to bumiputera investors, ANZ’s stake in the local bank would be diluted to 23.8% stake. Two days ago, AMMB had issued 194.9 million new shares to ANZ, following the latter’s move to convert the exchangeable bonds that ANZ had subscribed in 2007, into equity.
Petroliam Nasional Bhd (Petronas) plans to sell at least US$2.5 billion (RM8.75 billion) in dollar bonds, according to an emailed statement to investors. Petronas will sell five-year sukuk and 10-year conventional bonds, which may be priced to pay about 175 basis points more than US government debt of similar maturities, according to the statement to investors from Citigroup Inc, one of the sale’s arrangers. A basis point equals 0.01 percentage point.
Cerah Sama Sdn Bhd, which is 55%-owned by water player Taliworks Corp Bhd, disposed of 14.1 million shares or a 7.8% stake in SILK Holdings Bhd between July 20 and 29, slashing its shareholding to 11.4 million shares or 6.3%. The other shareholder of Cerah Sama is SEASAF (South East Asia Strategic Assets Fund) Highway Sdn Bhd.
Cerah Sama did not say why it cut its stake in the toll road operator. However, speculation is rife that it could be due to its disagreement with SILK’s management over the company venturing into oil and gas (O&G) support services, deviating from its present core business in toll road operations.
Aug 3
With the belief that the global economic recovery is now firmly in place comes the confidence to raise funds in the market not seen since the collapse of Lehman Brothers Holdings Inc in the US last September. AirAsia Bhd, which pioneered low-cost air travel in the region, is planning an audacious share sale estimated to raise more than RM600 million, making it the largest fund-raising to be undertaken by a Malaysian company since the credit crunch that led to Lehman’s fall. The share sale is in line with Air-Asia’s plan to have RM1 billion cash by year-end, as announced by its group CEO Datuk Seri Tony Fernandes after its shareholders’ meeting
The Inland Revenue Board of Malaysia's gross tax collection for the first seven months of 2009 rose 2% to RM53.5 billion from RM52.4 billion a year ago mainly due to improved contribution from the petroleum industry and individual taxpayers. Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah said: "I consider this (collection) a positive thing given the current economic situation and comparing it with other countries."
SIME DARBY BHD [ SIME 8.260 -0.050 (-0.602%) ]'s unit via its unit Sime Darby Engineering Sdn Bhd has entered into a definitive sale and purchase agreement with Ramunia Holdings Bhd to take over the energy services company for RM560 million cash. The deal is a revision of an earlier offer by Sime Darby to acquire Ramunia’s business including assets and liabilities for RM232 million, to be satisfied by RM46.2 million cash and RM185.8 million in shares of Sime Darby Engineering. The new offer excludes the takeover of Ramunia’s liabilities.
Property developer GUOCOLAND (MALAYSIA) BHD [ GUOCO 1.060 -0.020 (-1.852%) ] plans to roll out several high-end projects in stages at Emerald Rawang, Selangor, with a total gross development value (GDV) of RM1.7 billion. “Going forward, the RM1.7 billion GDV will have a bigger impact in terms of contribution. The projects are expected to be completed in 2016 or 2017,” executive director Chan Chee Meng told reporters during a media tour.
HAP SENG CONSOLIDATED BHD [ HAPSENG 2.550 0.010 (0.394%)] Stock Summary Time & Sales Historical Prices Business Summary Announcement is buying a 50% stake in Menara Citibank for RM303.5 million from Singapore's CapitaLand Ltd and Amsteel Corporation Bhd. It is acquiring CapitaLand's entire 30% stake in Inverfin Sdn Bhd -- owner and operator of the 50-storey building in Kuala Lumpur. It was also acquiring the entire 20% stake in Inverfin from Amsteel. Menara Citi Holding Co. Sdn Bhd owns the other 50% stake in Inverfin.
Land and General Bhd (L&G), which completed its debt repayment recently, said it would continue to focus on its core business of property development, including joint projects with land owners. “We are (already) in talks with land owners (in Klang Valley) and are in the final stage of discussions on the joint ventures. We as developer, they as land owners,” said its managing director Low Gay Teck. Low said L&G's immediate strategy was to enhance the value of its flagship property, the 1,200-acre Bandar Sri Damansara township.
Aug 6
Amid a turbulent operating environment, MALAYSIAN AIRLINE SYSTEM BHD [ MAS 3.200 0.100 (3.226%) ] posted a net profit of RM875.51 million in the second quarter (2Q) ended June 30, aided by a RM1.34 billion derivatives gain. Operationally, however, MAS posted a worse-than-expected loss of RM420.8 million as travel and cargo demand declined amid the global economic downturn that has dragged even the world’s best carriers, including Singapore Airlines, into the red.
Boustead Petroleum Marketing Sdn Bhd (BHPetrol) will market its RON95 — infiniti952x — at all its 300 stations nationwide by Sept 1, 2009 to replace RON92.
Speaking at the launch of BHPetrol’s RON95 here yesterday, BHPetrol’s managing director, Tan Kim Thiam, said infiniti95²x comprised an additive package that was made up of “detergent and anti-corrosion components together with friction modifier”.
FORMIS RESOURCES BHD [ FRB 1.190 0.010 (0.847%) ] has secured a RM69.98 million one-year contract to supply, install and commission an integrated e-courts system, called e-Kehakiman, for the country’s courtrooms. Formis said the contract, covering courtrooms in Selangor, Kuala Lumpur, Putrajaya, Johor, Penang and Sarawak, required it to design and set up three systems, encompassing e-filing, case management and queue management system, and court recording and transcription.
AIRASIA BHD [ AIRASIA 1.430 0.010 (0.704%) ] has deferred the delivery of eight Airbus A320 from the year 2010 to 2014 as it foresees infrastructural constraints with the current airport facilities and until the new low-cost carrier terminal is constructed. The low-cost carrier said on Aug 6 that with the deferment, the original delivery of 24 aircraft in 2010 would be reduced to 16 aircraft.
Aug 5
TSR CAPITAL BHD [ TSRCAP 1.350 -0.040 (-2.878%) ] received the Negri Sembilan government’s approval yesterday to develop a tax-free mall and a custom, immigration and quarantine (CIQ) complex as well as tourism-related projects in the centre of Port Dickson with a gross development value (GDV) of RM1.8 billion. TSR said the development entailed a free-tax mall, CIQ complex, international ferry terminals, aquarium and water theme park, hotels and convention centre, theme shops, medical centre and apartments.
AHMAD ZAKI RESOURCES BHD [ AZRB 0.910 -0.025 (-2.674%) ] subsidiary Ahmad Zaki Sdn Bhd has been awarded a RM106 million contract by the Works Department for an elevated interchange from Istana Negara to Jalan Duta. AZRB said the project would be completed within 18 months from Aug 10, 2009 to Feb 9, 2011. It expects the project to contribute positively to its earnings for the financial years ending 2009-2011.
Bursa Malaysia reserves the right to extend the trading halt period of a listed company’s securities beyond the shortened period of one hour that took effect on Monday.
Bursa said it reserved the right to extend the halt for the rest of the trading session, or such other period as deemed appropriate by the exchange, to enable sufficient time for dissemination and understanding of complex announcements.
The major shareholders of The New Straits Times Press (M) Bhd (NSTP) are mulling various ideas and plans to enhance shareholder value, including a possible privatisation of the company, demerger and spin-off. NSTP said, however, its major shareholders have not committed to a date or made a firm decision regarding such plans.
Aug 4
Prime Minister Datuk Seri Najib Tun Razak launched the country's first Special Economic Zone (SEZ) in Pekan, Pahang on Aug 4 in a move to generate investments of RM90 billion by 2020 and creating 220,000 new jobs. The SEZ, which is part of the East Coast Economic Region (ECER), is an integrated development zone with special incentives to attract investments and boost economic activities. The SEZ stretches from Kertih, Chukai, Kuantan Port City, Kuantan, Gambang to Pekan.
The Australia and New Zealand Banking Group Limited (ANZ) has emerged as AMMB HOLDINGS BHD [ AMMB 4.150 -0.120 (-2.810%) ]’s largest shareholder with a 24.6% stake, up from 19.2% previously, after converting its entire holdings of RM575 million unsecured subordinated exchangeable bonds into shares. Taking into account the special issue of 96.3 million new AMMB shares to bumiputera investors, ANZ’s stake in the local bank would be diluted to 23.8% stake. Two days ago, AMMB had issued 194.9 million new shares to ANZ, following the latter’s move to convert the exchangeable bonds that ANZ had subscribed in 2007, into equity.
Petroliam Nasional Bhd (Petronas) plans to sell at least US$2.5 billion (RM8.75 billion) in dollar bonds, according to an emailed statement to investors. Petronas will sell five-year sukuk and 10-year conventional bonds, which may be priced to pay about 175 basis points more than US government debt of similar maturities, according to the statement to investors from Citigroup Inc, one of the sale’s arrangers. A basis point equals 0.01 percentage point.
Cerah Sama Sdn Bhd, which is 55%-owned by water player Taliworks Corp Bhd, disposed of 14.1 million shares or a 7.8% stake in SILK Holdings Bhd between July 20 and 29, slashing its shareholding to 11.4 million shares or 6.3%. The other shareholder of Cerah Sama is SEASAF (South East Asia Strategic Assets Fund) Highway Sdn Bhd.
Cerah Sama did not say why it cut its stake in the toll road operator. However, speculation is rife that it could be due to its disagreement with SILK’s management over the company venturing into oil and gas (O&G) support services, deviating from its present core business in toll road operations.
Aug 3
With the belief that the global economic recovery is now firmly in place comes the confidence to raise funds in the market not seen since the collapse of Lehman Brothers Holdings Inc in the US last September. AirAsia Bhd, which pioneered low-cost air travel in the region, is planning an audacious share sale estimated to raise more than RM600 million, making it the largest fund-raising to be undertaken by a Malaysian company since the credit crunch that led to Lehman’s fall. The share sale is in line with Air-Asia’s plan to have RM1 billion cash by year-end, as announced by its group CEO Datuk Seri Tony Fernandes after its shareholders’ meeting
The Inland Revenue Board of Malaysia's gross tax collection for the first seven months of 2009 rose 2% to RM53.5 billion from RM52.4 billion a year ago mainly due to improved contribution from the petroleum industry and individual taxpayers. Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah said: "I consider this (collection) a positive thing given the current economic situation and comparing it with other countries."
SIME DARBY BHD [ SIME 8.260 -0.050 (-0.602%) ]'s unit via its unit Sime Darby Engineering Sdn Bhd has entered into a definitive sale and purchase agreement with Ramunia Holdings Bhd to take over the energy services company for RM560 million cash. The deal is a revision of an earlier offer by Sime Darby to acquire Ramunia’s business including assets and liabilities for RM232 million, to be satisfied by RM46.2 million cash and RM185.8 million in shares of Sime Darby Engineering. The new offer excludes the takeover of Ramunia’s liabilities.
Property developer GUOCOLAND (MALAYSIA) BHD [ GUOCO 1.060 -0.020 (-1.852%) ] plans to roll out several high-end projects in stages at Emerald Rawang, Selangor, with a total gross development value (GDV) of RM1.7 billion. “Going forward, the RM1.7 billion GDV will have a bigger impact in terms of contribution. The projects are expected to be completed in 2016 or 2017,” executive director Chan Chee Meng told reporters during a media tour.
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