Reports » Malaysia
Malaysia stock market and companies daily report (November 01, 2013)
FGVH Inks Tie-Up With Cambridge University
Felda Global Ventures Holdings (FGVH) signed a non-binding memorandum of understanding (MOU) with Cambridge Nanosystems, a spin-off of the respected university, to pioneer and produce high-grade carbon nanotubes and graphene from by-products of crude palm oil and other hydrocarbons. The MOU also proposes the acquisition of 70 percent of the issued share capital of Cambridge Nanosystems by FGVH’s wholly-owned subsidiary, Felda Global Ventures Downstream. These chemicals will be produced using state-of-the-art and newly developed nano-systems technology developed by Cambridge Nanosystems, which can be used in a new generation of electronic devices that run faster while using less energy. They also have the potential to be used in next-generation communications as well as underwater cables.
Significance: FGVH management said innovation will remain its key emphasis and will further explore various opportunities for smart partnerships in its continuous commitment to sustainable business through innovative palm-based products, which is not only focusing on food.
KKB 3Q13 Earnings Tripled To RM7.1m
KKB Engineering 3Q13 net profit rose 4-fold to RM7.1 million, from RM1.8 million the previous year, attributed to its better performing engineering sector which recorded higher revenue, coupled with improved margin contributions. Revenue for the third quarter gained 35.9 percent to RM56.9 million from RM41.9 million previously. On a nine-month basis, the company’s revenue increased 41.3 percent to RM181.3 million from RM128.2 million in the corresponding period last year. Its 9M13 net profit more than doubled to RM30.5 million from RM13.2 million a year ago. KKB said it will continue to focus its effort on the expansion of its operating facilities. The company is currently actively searching for new opportunities to extend its operations, preferably into steel structural fabrication activities for the oil and gas sector.
Significance: The firm added that the “Offshore Facilities Construction-Major Onshore Fabrication” licence granted by Petronas to its associate company, OceanMight, will allow KKB to participate directly in the upstream fabrication works for the oil and gas sector.
TN FY13 Bottomline Rose 4.6% To RM4.6b
Tenaga Nasional (TN) reported net profit of RM4.6 billion in FY13, an increase of 4.3 percent from RM4.4 billion a year ago, mainly due to a translation gain arising from the strengthening of the ringgit against the yen. The increase in net profit, however, was moderated by a higher base in 2012 as a result of compensation received from the government in April 2012 for the additional fuel cost borne by TN between January 2010 and August 2012 due to a gas shortage. Adjusting for the RM1.7 billion compensation, net profit actually increased by 46.3 percent from RM3.2 billion in FY12 to RM4.6 billion in FY13. Revenue jumped 3.5 percent to RM37.1 billion, mirroring a 3.8 percent growth in unit electricity demand in Peninsular Malaysia.
Significance: On the demand side, electricity demand growth is expected to remain steady next year, in line with expectations of an improving global outlook. While supply wise, coal prices are expected to remain stable at 2013 level as factors that brought it down have remained and prices have not yet bottomed out, according to management.
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