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Reports » Malaysia

Malaysia stock market and companies daily report (October 23, 2014)

October 23, 2014, Thursday
CIMB Equities Research noted that Axis Real Estate Investment Trust (Axis REIT) ‘s performance is in line, after recording a core net profit of RM61.9 million in 9M14, which makes up 62 percent its full-year estimates. For the three-month period ended 30 September, Daibochi Plastic and Packaging Industry’s revenue declined 4.8 percent to RM83.1 million, due to lower contributions from its property business, which is being phased out.

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

October 21, 2014, Tuesday
Amalgamated Industrial Steel (AIS), which has been in the red for six years, is hopeful of narrowing loss this year as it sells its pipes at higher prices, following the government’s slapping of anti-dumping tax on select imported hot-rolled coils (HRC). For the three-month period ended 30 September, Bursa Malaysia’s revenue and net profit came in 8 percent and 14.9 percent higher at RM121 million and RM53.1 million respectively, backed by an increase in both trading and non-trading revenues.

Malaysia stock market and companies daily report (October 20, 2014)

October 20, 2014, Monday
RHB Research has maintained its ‘Buy’ call on Datasonic Group with a reduced target price of RM2.10 based on an unchanged 25 times FY16F price to earnings. CIMB Equities Research has maintained its assumptions that Muhibbah Engineering may secure RM600 million infrastructure job wins for FY14 and RM1 billion for FY15, driven by domestic oil & gas infrastructure. JF Apex Securities said that investors could flock to telecommunication companies’ (telco) stocks in the current market slump, due to the sector’s defensive nature and stable dividends.

Malaysia stock market and companies daily report (October 17, 2014)

October 17, 2014, Friday
For the third quarter ended 30 September, British American Tobacco (M) (BAT) posted a 9.9 percent increase in net profit to RM241.1 million as revenue for the quarter rose 3.3 percent to RM1.2 billion. Eco World Development Group has proposed to acquire a 30 percent stake in Eco World International (EWI), a real-estate special purpose acquisition company (SPAC), for RM562.5 million.

Malaysia stock market and companies daily report (October 16, 2014)

October 16, 2014, Thursday
RHB Research has maintained its ‘Neutral’ recommendation on Caring Pharmacy, as it expects Caring’s earnings growth to be capped by its expansion plans and operating cost pressures. OSK Holdings (OSKH) aims to become a stronger property player through the proposed acquisition of OSK Property Holdings and PJ Development Holdings for a combined RM584.7 million. For the third quarter ended 31 August, Zhulian Corporation’s earnings fell 73.8 percent to RM10.4 million, as revenue fell 53.9 percent to RM57.2 million.

Malaysia stock market and companies daily report (October 15, 2014)

October 15, 2014, Wednesday
Euro Holdings shareholders have rejected the mandatory general offer by its three major owners to buy the remaining shares they do not own in the company for RM0.44 each, with none of the remaining shareholders accepting the offer. PublicInvest Research is of the view that IGB Corporation’s revalued net asset value (RNAV) should be worth RM6.90 per share, justifying a higher target price of RM4.80. For the fourth quarter ended 31 August, Top Glove Corporation posted a 5.2 percent decline in net profit to RM45.9 million, despite a 5.8 percent rise in revenue to RM580.2 million.

Malaysia stock market and companies daily report (October 14, 2014)

October 14, 2014, Tuesday
CIMB Research has initiated coverage on software solutions provider IFCA MSC that focuses particularly on property development, golf clubs, hotels and the construction sector, with around 70 percent market share of the domestic property sector. Sasbadi Holdings has sealed a deal with one of Indonesia’s largest book publishers, PT Penerbit Erlangga (PPE), granting PPE an exclusive and non-transferable licence to use its interactive online learning system i-LEARN, and sell its online learning materials under the platform in Indonesia.

Malaysia stock market and companies daily report (October 13, 2014)

October 13, 2014, Monday
Analysts are positive on Sime Darby’s proposal to acquire all shares in New Britain Palm Oil (NBPOL) for GBP1.1 billion (RM5.6 billion) as it would be value enhancing for the conglomerate in the long term. MIDF Research stated that the offer price of GBP7.15 per share is fair, although it represents a premium of 85 percent to NBPOL’s last closing price on 8 October, due to the quality of NBPOL’s assets which has made it one of the best performing palm oil companies in the world.

Malaysia stock market and companies daily report (October 10, 2014)

October 10, 2014, Friday
In what is by far the largest corporate deal in Malaysia, RHB Capital will buy CIMB Group Holdings under their proposed mega merger with Malaysia Building Society (MBSB) in a deal valued at more than RM94 billion. Sarawak Cable has won a 40-month contract worth RM493million from Shanghai Electric Group Co, the main contractor of the Balingian coal-fired power plant in Sarawak, with the contract sum subjected to the final scope of work.

Malaysia stock market and companies daily report (October 09, 2014)

October 9, 2014, Thursday
Ireka Corporation’s infrastructure arm, Ireka Engineering and Construction, has bagged an RM276.8 million construction contract from KL Eco City. Garment and packaging products manufacturer Magni-Tech Industries, is toying with the idea of diversifying into sectors such as property or manufacturing, amid rising costs and increased competition from India and China in the garment industry. For the third quarter ended 30 September, LPI Capital’s operating revenue rose 6.3 percent to RM301.2 million and net profit jumped 6.4 percent to RM64.2 million.

Malaysia stock market and companies daily report (October 08, 2014)

October 8, 2014, Wednesday
Axis Real Estate Investment Trust (Axis REIT) is buying a 10.9 hectares industrial site with the factory in Nusajaya, Johor, for RM153.5 million. CIMB Research says KPJ Healthcare’s move to inject assets into Al-Aqar, through the sale of the new extension at the main campus of its education arm, KPJ University College for RM77.8 million will have limited impact on its earnings. Alliance Research initiated coverage on Pantech Group Holdings, noting that the group stands a good chance to win up to RM1.7 billion worth of jobs in relation to the oil and gas (O&G) downstream activities at the Pengerang Integrated Petroleum Complex (PIPC).

Malaysia stock market and companies daily report (October 07, 2014)

October 7, 2014, Tuesday
MIDF Investment Research noted that the potential valuation of the possible spin off and listing of AirAsia’s leasing operations could reach US$1 billion, half of AirAsia’s current market capitalisation. CIMB Equities Research has initiated coverage on Berjaya Food with an ‘Add’ call, saying that the key re-rating catalysts include strong earnings growth from Starbucks, the recovery of Kenny Rogers Roasters (KRR) performance, and the injection of Starbucks fast-moving consumer good (MFCG) and other franchise businesses into the group.

Malaysia stock market and companies daily report (October 03, 2014)

October 3, 2014, Friday
Instacom Group has proposed the acquisition of a 35 percent stake in construction firm Neata Aluminium (M) for RM58.8 million, in a move to diversify the company’s earnings base. Malaysian Resources Corporation (MRCB) is planning an indoor theme park at its new township in Sungai Buloh, Selangor, which it says is going to be fun, wholesome and family-oriented. Sanichi Technology, a precision plastic injection mould maker, will be making its maiden foray into the property sector with its first project in Malacca next year.

Malaysia stock market and companies daily report (October 02, 2014)

October 2, 2014, Thursday
Axiata Group’s 66.5 percent-owned Indonesian unit, PT XL Axiata, has picked PT Solusi Tunas Pratama (STP) over 14 others to sell a portion of its towers in a deal worth US$460 million (RM1.5 billion), cash. Maybank Investment Bank (Maybank IB) is convinced that Genting Malaysia will win the upstate New York commercial casino licence because it offers the highest rate of investment, licensing fees as well as jobs and salaries into the project. As part of a move to liberalise the banking sector in the Myanmar, the Central Bank of Myanmar has granted Malayan Banking (Maybank) a banking licence to open a branch office in the country.

Malaysia stock market and companies daily report (October 01, 2014)

October 1, 2014, Wednesday
Goh Ban Huat (GBH) has not given up on securing a new asset after its plan to venture into the oil and gas (O&G) industry via a reverse takeover (RTO) was surprisingly aborted. Given its steady recurring income from the power business coupled with decent earnings prospects from its resources arm, Public Investment Bank (PIB) said it believes that Mega First Corporation investors is currently getting both businesses for nearly free at the current share price. Sime Darby has walked away from buying a 49 percent stake in New Britain Palm Oil (NBPOL) from Kulim (M).

Malaysia stock market and companies daily report (September 30, 2014)

September 30, 2014, Tuesday
For the fourth quarter ended 31 July, Gamuda’s net profit rose 23.1 percent to RM205.9 million despite a 7.6 percent decline in revenue to RM592 million. Nomura Research has noted that Mah Sing Group compares favourably with much larger capitalised Malaysian developers and has revenue visibility of more than four years, one of the highest in the sector. As part of its plan to diversify its income stream, Resintech, a manufacturer of various PVC and polyethylene products, is venturing into rubber plantation via a 10:90 joint venture with a Cambodian company, to develop 6,000 hectares of agriculture land in Cambodia.

Malaysia stock market and companies daily report (September 29, 2014)

September 29, 2014, Monday
Coastal Contracts has clinched contracts to supply seven units of offshore support vessels (OSV), to be delivered in 2014 and 2015, worth RM444 million. PublicInvest Research said that the new Proton Iriz will enable Proton to achieve economies of scale that is necessary for Proton to return to profitability. Takaso Resources has inked a letter of intent (LOI) to acquire construction firm, Dynavance Construction.

Malaysia stock market and companies daily report (September 26, 2014)

September 26, 2014, Friday
Expansion of Hartalega’s next-generation complex is on track, with the first two lines likely to start operations by the end of this year, which will bring its installed capacity up to about 14.7 billion pieces per annum. For the second quarter ended 31 July, SapuraKencana Petroleum recorded an 8.2 percent increase in revenue to RM2.7 billion, due to new contracts secured by wholly-owned unit, SapuraKencana Energy. Tanjung Offshore’s subsidiary, Tanjung Offshore Services, has secured an engineering, procurement, installation and commissioning (EPIC) contract from Petronas Carigali worth RM200 million.

Malaysia stock market and companies daily report (September 25, 2014)

September 25, 2014, Thursday
Food-based QL Resources, unhappy after its representative failed to get reappointed to the board of Lay Hong has mounted a takeover of the rest of the shares it does not own in the latter, offering RM3.50 per share. For the fourth quarter ended 31 July, Scientex reported a 11.9 percent rise in revenue to RM415.4 million, mainly attributable to higher contribution from the property segment, due to progress billing from on-going projects as well as contribution from the Taman Scientex Senai project. UEM Sunrise, one of the biggest property developers in Malaysia, is expecting an upswing in the property market by end-2015 or 2016, said newly appointed chief executive officer, Anwar Syahrin Abdul Ajib.

Malaysia stock market and companies daily report (September 24, 2014)

September 24, 2014, Wednesday
CIMB Equities Research has initiated coverage on Berjaya Auto. Scomi Engineering, which currently has an order book of RM1.4 billion, hopes to return to profitability in FY15 through cost control, operation optimisation and improved exposure to the foreign exchange. Sona Petroleum, which is listed as a special-purpose acquisition company, is confident of getting the Securities Commission’s approval for its first qualifying acquisition of a 40 percent stake in the Thai unit of UK-listed Salamander Energy for US$281 million (RM895.2 million).

Malaysia stock market and companies daily report (September 23, 2014)

September 23, 2014, Tuesday
For the first quarter ended 31 July, Berjaya Land reported a 37.3 percent rise in revenue to RM1.4 billion, mainly due to the consolidation of HR Owen by Berjaya Sports Toto and the higher progress billings reported by the property development and investment business. Iris Corporation’s subsidiary, Iris Information Technology Systems, has bagged the contract to be the approved refund agent for foreign tourists under the goods and services tax (GST) regime come 1 April 2015. TAS Offshore has entered into a 60:40 joint venture (JV) with China-based businessman Chan Baihang, through its subsidiary, TA Venture (L). The JV is worth RM122 million and will involve the building and sale of offshore vessels out of China.

Malaysia stock market and companies daily report (September 22, 2014)

September 22, 2014, Monday
Bina Puri Holdings has received three offers as high as RM210 million for its maiden shopping mall project, The Main Place in Subang Jaya. CIMB Equities Research views Sunway’s proposal to relist its construction arm and described it as a positive surprise. TDM, one of Malaysia’s smallest plantations and healthcare group, is ramping up productivity of its oil palm trees and boosting its medical segment by allocating an estimated capital expenditure (capex) of RM400 million next year.

Malaysia stock market and companies daily report (September 19, 2014)

September 19, 2014, Friday
For the quarter ended 20 August, AEON Credit Service (M) recorded a 28.5 percent increase in revenue to RM209.3 million, with growth mainly recorded in its auto financing operations. CIMB Research believes that the launch of Measat 3-B satellite will meet Astro Malaysia Holdings’ capacity demands for the next few years as well as its plan to introduce new channels, particularly high-definition channels. According to reports, Limak Group is selling its entire 40 percent stake in Sabiha Gokcen Airport (ISG), Istanbul, Turkey, for EUR285 million, to Turkey-based airport operator TAV Airports Holding.

Malaysia stock market and companies daily report (September 19, 2014)

September 19, 2014, Friday
For the quarter ended 20 August, AEON Credit Service (M) recorded a 28.5 percent increase in revenue to RM209.3 million, with growth mainly recorded in its auto financing operations. CIMB Research believes that the launch of Measat 3-B satellite will meet Astro Malaysia Holdings’ capacity demands for the next few years as well as its plan to introduce new channels, particularly high-definition channels. According to reports, Limak Group is selling its entire 40 percent stake in Sabiha Gokcen Airport (ISG), Istanbul, Turkey, for EUR285 million, to Turkey-based airport operator TAV Airports Holding.

Malaysia stock market and companies daily report (September 18, 2014)

September 18, 2014, Thursday
With more than RM1 billion worth of property projects in the pipeline, Fiamma Holdings’ property development business, which contributed 21.1 percent of its 9M14 turnover, is seen as a new growth driver for the company. For the quarter ended 31 July, George Kent (Malaysia) reported a 9.5 percent decline in revenue to RM75 million, mainly attributable to lower contributions from all three business segments. For the quarter ended 31 July, S P Setia recorded an 11.9 percent jump in top line to RM902.7 million, mainly contributed by higher revenue recognition from property development, coupled with higher profit contribution from completed parcels.

Malaysia stock market and companies daily report (September 17, 2014)

September 17, 2014, Wednesday
Hong Leong Investment Bank (HLIB) is upbeat on Fitters Diversified’s maiden venture into PVC-O pipes production, which would strengthen the group’s revenue model. Petronas Chemicals Group has inked a memorandum of understanding (MOU) with Poland’s Grupo Azoty Zaklady Azotowe Pulawy and Sipitang Oil and Gas Development Corporation, to conduct a joint feasibility study for the production of urea and ammonia derivatives at the Sipitang Oil and Gas Industrial Park in Sabah. Sarawak Cable announced last Friday that it had accepted the conditional offer made by HNG Capital for the proposed acquisition of the latter’s 100 percent stakes in Universal Cable (M) and Leader Cable Industry for RM210 million.

Malaysia stock market and companies daily report (September 16, 2014)

September 16, 2014, Tuesday
Brahim’s Holdings shared that it may try to ease the shortfall from possible route cuts by Malaysian Airlines Systems (MAS) through acquiring a food-based company. Priceworth International is expanding into the oil and gas (O&G) sector through a joint venture (JV) with Miri O&G company Semaring Enterprise. Maybank Investment Bank (Maybank IB) believes that there will be significant increase in volume to Westports Holdings coming from a new route sharing shipping alliance of Ocean three, which consists of mainly CMA CGM, China Shipping and United Arab Shipping Co.

Malaysia stock market and companies daily report (September 15, 2014)

September 15, 2014, Monday
Eco World Development Group is taking up the offer to buy a 190.2 hectares plot in Batu Kawan, Penang, from Penang Development Corp for RM1 billion, or RM50 per square foot. Genting Malaysia’s indirect 70 percent-owned unit, BB Entertainment (BBEL), is buying a 16.2 acre land located on the Bimini Islands, Bahamas for US$24.6 million (RM78.7 million) from RAV Bahamas, expanding the group’s resort property in the Bahamas. Thermo-vacuum form and vacuum plastic packaging manufacturer SCGM has set aside RM11.6 million in capital expenditure (capex) to expand into a new segment of plastic cup manufacturing by year-end.

Malaysia stock market and companies daily report (September 12, 2014)

September 12, 2014, Friday
Sources have indicated that Globaltec Formation is set to acquire a 49 percent stake in a hydroelectric power plant project sited at Sungai Perak, Lenggong, for RM2.5 million, marking its maiden foray into the renewable energy segment. Iris Corporation’s subsidiary, IRIS Land (PNG), has entered a 51:23:26 joint venture (JV) with the Central Provincial Government Of Free Mail Bag, Konedobu NCD, Papua New Guinea (PNG), and Jayacorp Holdings to build a satellite township on a 303.8-hectare land in Granville Province, PNG.

Malaysia stock market and companies daily report (September 11, 2014)

September 11, 2014, Thursday
Petronas Dagangan is exploring new overseas markets for its liquefied petroleum gas and lubricant businesses. Alliance DBS Research has reported that MKH is grossly oversold as a result of weaker than expected 3Q14 results. Driven by its four business pillars namely air freight forwarding, ocean freight forwarding, contract logistics and trucking division, logistics firm, Tasco, is targeting between 8 percent and 10 percent revenue growth for the current financial year ending 31 March 2015.

Malaysia stock market and companies daily report (September 10, 2014)

September 10, 2014, Wednesday
Digistar Corporation’s subsidiary, Nielsen Ward (NWSB), received a conditional approval for a money lending license from the Urban Wellbeing, Housing and Local Government Ministry’s Moneylenders and Pawnbrokers Department. Ideal Sun City Holdings has proposed the acquisition of 46 units of commercial space in Daerah Timor Laut, Penang, for RM18 million and four units of three-storey shop offices in Daerah Barat Daya, Penang, for RM8 million from Ideal Capital Intelligence.

Malaysia stock market and companies daily report (September 09, 2014)

September 9, 2014, Tuesday
For the quarter ended 31 July, Berjaya Auto reported an 18.6 percent rise in revenue to RM508 million, mainly attributable to higher sales volume of Mazda vehicles in Malaysia and the Philippines. Eversendai Corporation’s subsidiary, Eversendai Oil & Gas (M), has secured its first oil and gas (O&G) contract for two separate packages valued at RM72.2 million. Ho Hup Construction’s 70 percent-owned subsidiary, Ho Hup (Myanmar) E&C has formed a joint venture (JV) with Zaykabar, to develop a high-end residential property project, with an estimated gross development value of US$200 million (RM634.8 million) in Yangon, Myanmar.

Malaysia stock market and companies daily report (September 08, 2014)

September 8, 2014, Monday
Bank Islam Malaysia (BIMB), the Islamic bank under BIMB Holdings, expects a 20 percent consumer loan growth this year despite having grown 25 percent last year. SAM Engineering & Equipment (M) has set aside RM200 million to invest in its operations in Malaysia over the next two years and is seeking organic expansion and expansion through acquisitions. Glove maker Supermax Corp expects strong growth in the coming year, as it expands distribution of its own brand manufacturing (OBM) products in India, China and Japan.

Malaysia stock market and companies daily report (September 05, 2014)

September 5, 2014, Friday
With the acquisition of its five new properties, for RM472 million this year, the Managers of Axis REIT expects the value of the REIT to surpass the RM2 billion mark. Digistar Corporation’s wholly-owned subsidiary, Digistar Holdings will acquire 350,000 ordinary shares of RM1 each, representing a 70 percent stake in Protecs A & A CMS. Pos Malaysia plans to spend more than RM150 million as capital expenditure (CAPEX) for the financial year ending 31 March, 2015.

Malaysia stock market and companies daily report (September 04, 2014)

September 4, 2014, Thursday
Dayang Enterprise Holdings has proposed to undertake a private placement of up to 10 percent of the company’s outstanding number of shares. Yeoh Soo Ann, former chief executive officer of Encorp has purchased a 17.4 percent stake of Furniweb Industrial Products on 28 August via a direct deal. Ivory Properties Group 49 percent-owned Aspen Vision Land (AVL) has sealed a deal with Penang Development Corporation to acquire a 245-acre land in Bandar Cassia, Batu Kawan, where most of the land is earmarked for mixed development.

Malaysia stock market and companies daily report (September 03, 2014)

September 3, 2014, Wednesday
Berjaya Land’s wholly-owned subsidiary, Berjaya Leisure (Cayman), together with Berjaya Times Square (Cayman), has signed a memorandum of understanding (MOU) with Carnival Group to dispose a total 70 percent interest in Berjaya (China) Great Mall Co (GMOC). Brahim’s Holdings is expected to be affected once Malaysian Airline System (MAS) migrates its operations to its new company (Newco) by July next year. Euro Holdings received a takeover offer from its executive director, Datuk Tong Yun Mong, and two major shareholders, Datuk Seri Choong Yuen Kheong and Tee Wee Sien, for the remaining 52.3 percent of the company that they do not own for a cash consideration of RM0.44 a share.

Malaysia stock market and companies daily report (September 02, 2014)

September 2, 2014, Tuesday
Mudajaya Group aims to enhance profit margins by reducing its dependence on construction work from third parties though increasing its recurring income business. SapuraKencana Petroleum’s subsidiary, SapuraKencana Energy Sarawak (SKE) has made another gas discovery from Bakong-1. Sentoria Group has secured two parcels of land in Padang Matsirat and Mukim Ulu Melaka, Langkawi, measuring a total 120 acres for RM41.4 million, with both parcels carrying a lease period of 90 years.

Malaysia stock market and companies daily report (September 01, 2014)

September 1, 2014, Monday
CIMB Group Holdings posted a 1 percent dip in net revenue from RM3.44 billion in 2Q13 to RM3.4 billion in 2Q14. Felda Global Ventures Holdings (FGV) has announced the proposed acquisition of Singapore-incorporated plantation company Asian Plantations (APL) for GBP120 million (approximately RM628 million). For the financial year ended 30 June, Sime Darby registered a 4.8 percent decline in revenue to RM43.9 billion, on the back of weaker contributions from its plantation, industrial, motors and energy and utilities segments.

Malaysia stock market and companies daily report (August 29, 2014)

August 29, 2014, Friday
For the quarter ended 30 June, BIMB Holdings reported an 86.4 percent surge in net profit to RM129.7 million, on the back of lower operating overheads and higher write back for impairment on investments and other assets. For the six-month period, earnings spiked 76.1 percent to RM253.1 million. The great leap in net profit attributable to shareholders was the result of the acquisition of a 49 percent interest in Bank Islam Malaysia.

Malaysia stock market and companies daily report (August 28, 2014)

August 28, 2014, Thursday
Esthetics International Group (EIG), plans to invest RM60 million to expand its corporate outlets in 10 different locations locally and abroad. For the quarter ended 30 June, RHB Capital reported a marginal 0.8 percent rise in net revenue to RM1.4 billion. Telekom Malaysia (TM) reported an 8 percent increase in revenue to RM2.8 billion for the quarter ended 30 June, bolstered by better performances across all services.

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