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Reports Malaysia

Malaysia stock market and companies daily report (July 21, 2014)

July 21, 2014, Monday, 05:40 GMT | 00:40 EST | 09:10 IST | 11:40 SGT
Contributed by Shares Investment

MKH Eyes RM1b Turnover In FY15

- Compared with RM800 million in sales expected for FY14, MKH is estimating turnover close to RM1 billion for FY15. The firm recorded RM580 million in sales for FY13.

- MKH is targeting another 13 to 15 project launches in FY15 consisting mainly of residential and commercial projects.

- Currently, MKH owns over 1,000 acres of undeveloped land in Klang Valley, sited for residential and commercial projects.

Significance: Aside from its property development business, MKH is looking to more than double its plantation landbank within the next two to three years, up from its present landbank of over 16,000 hectares in Indonesia.

WZ Satu To Acquire O&G Peripheral Player

- WZ Satu proposed to acquire Misi Setia Oil and Gas (O&G) for RM27 million.

- Misi Setia’s business activities include the design, procurement, fabrication, installation and commissioning of O&G metering skid packages, onshore gas pipeline transmission distribution systems as well as O&G plant and terminal construction and rejuvenation projects.

- Out of the purchase consideration, RM16.2 million will be funded in cash while the remaining RM10.8 million will be satisfied via the issuance of 10.6 million new WZ Satu shares at RM1.02 apiece.

Significance: Apart from income diversification purposes, the proposed acquisition would allow WZ Satu to participate in an unrelated industry, from its existing core business, with distinct outlook and prospects.

YGL Inks RM1.1m Software Solutions Contract

- YGL Convergence Malaysia, YGL Convergence’s subsidiary, will provide system and implementation of YGL’s proprietary software to Country Heights Holdings (CHH) worth RM1.1 million.

- The software, equipped with Malaysian goods and service tax advanced features, will computerise CHH’s month end and year end consolidation and reports as well as automate the tracking of health screening and traditional Chinese medicine treatment.

- The contract is expected to commence in September 2014 and will last until February 2015.

Significance: The latest win is expected to contribute positively to the future earnings and net assets of YGL Convergence. The project is a one-off contract with a yearly software maintenance contract.