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Reports » Malaysia

Malaysia stock market and companies daily report (March 05, 2015)

March 5, 2015, Thursday
DiGi.Com incoming chief executive officer Albern Murty said that the company has a 3-year strategy plan to become the best mobile Internet provider for the mass market, which is proceeding nicely. Eco World Development Group shares went ex for a 1-for-2 rights issue (at RM1.20 per share) with 4 warrants-for-5 rights shares (seven years to expiration and exercise price of RM2.08) yesterday, thus raising the company’s paid-up capital to 2 billion shares.

Malaysia stock market and companies daily report (March 03, 2015)

March 3, 2015, Tuesday
Sentiment on construction company Mudajaya Group was dampened following its dismal FY14 performance. Pesona Metro Holdings and its joint-venture partners have been awarded a RM172.7 million roadworks project, Section 3E2 of the Central Spine Road highway, which stretches from Merapoh to Kampung Kubang Rusa. Property developer Plenitude has offered to take over The Nomad Group, which owns a string of properties in Kuala Lumpur and Penang, for RM278.8 million via the issuance of 111.6 million new Plenitude shares of RM2.50 each.

Malaysia stock market and companies daily report (March 02, 2015)

March 2, 2015, Monday
For the fourth quarter ended 31 Decemeber 2014, 7-Eleven Malaysia Holdings registered a 71.1 percent rise in net profit to RM17.9 million, underpinned by sales growth, gross profit margin expansion and growth in other operating income. In-flight caterer Brahim’s Holdings posted net losses of RM40.3 million in 4Q14 – compared with earnings of RM12.7 million in 4Q13 – mainly due to settlement of disputes with Malaysian Airline System (MAS).

Malaysia stock market and companies daily report (February 25, 2015)

February 25, 2015, Wednesday
Although plummeting charter rates cut Malaysian Bulk Carriers’ FY14 net profit by 72.7 percent to RM12.2 million, the firm plans to build five new ships to expand its fleet size to 27 vessels by 2018. Malayan United Industries (MUI), the owner of the Metrojaya departmental stores, fell into the red in FY14, with a net loss of RM7 million recorded. Sabah-based plantation group TSH Resources posted a 55.2 percent drop in net profit in 4Q14 to RM13.7 million as revenue slipped to RM244 million due to lower crude palm oil (CPO) prices and severe weather conditions in Indonesia which has affected its palm oil production during the quarter.

Malaysia stock market and companies daily report (February 24, 2015)

February 24, 2015, Tuesday
A US$1.1 billion (RM4 billion) novation agreement to build five liquefied natural gas carriers (LNGCs) has been reached between energy shipping company MISC, its main shareholder, Petroliam Nasional (Petronas) and South Korean shipbuilder Hyundai Heavy Industries Co. Perdana Petroleum is counting on its “young and versatile” fleet of offshore support vessels (OSVs) to sit out the oil and gas (O&G) storm because it feels that its tender activities will continue to provide longer-term charter opportunities and the necessary stability.

Malaysia stock market and companies daily report (February 23, 2015)

February 23, 2015, Monday
CIMB Equities Research said Petronas Chemical Group’s FY14 core earnings were 22 percent below its forecast and 11 percent below consensus due to weaker-than-expected olefins earnings and lower-than-expected utilisation rates from multiple shutdowns. Semiconductor firm Unisem (M), is likely to perform better this year than in 2014, riding on the recovery of the US economy (where it derives a significant number of its orders), a stronger greenback and healthier China operations, according to group managing director John Chia Sin Tet.

Malaysia stock market and companies daily report (February 19, 2015)

February 19, 2015, Thursday
Business management solutions provider IFCA MSC announced a much stronger net profit of RM9.1 million for 4Q14, up from RM0.9 million a year earlier, signifying a well-performing quarter for software implementation works. Its revenue improved by 122.2 percent to RM31.2 million. Petronas Gas (PetGas) announced a 45.1 percent surge in net profit to RM571.3 million in 4Q14, in line with improved utilities revenue as a result of higher customer offtake and an upward electricity tariff revision.

Malaysia stock market and companies daily report (February 18, 2015)

February 18, 2015, Wednesday
Business management solutions provider IFCA MSC announced a much stronger net profit of RM9.1 million for 4Q14, up from RM0.9 million a year earlier, signifying a well-performing quarter for software implementation works. Its revenue improved by 122.2 percent to RM31.2 million. Petronas Gas (PetGas) announced a 45.1 percent surge in net profit to RM571.3 million in 4Q14, in line with improved utilities revenue as a result of higher customer offtake and an upward electricity tariff revision.

Malaysia stock market and companies daily report (February 17, 2015)

February 17, 2015, Tuesday
British American Tobacco (Malaysia) (BAT) said its net profit for 4Q14 dropped a marginal 0.9 percent to RM187.4 million despite revenue increasing to RM1.2 billion as a result of the cumulative pricing impact of the June 2013 price hike and the excise-led price increases in September 2013 and November 2014 within Malaysia. Non-bank lender Malaysia Building Society (MBSB), who has just announced profits surpassing the RM1 billion mark will kick-start a five-year business plan to lower its reliance on the retail sector. BIMB Equities Research envisions a tougher business environment for Padini Holdings.

Malaysia stock market and companies daily report (February 16, 2015)

February 16, 2015, Monday
For the fourth quarter ended 31 December 2014, Gas Malaysia registered a 41.9 percent slump in net profit to RM23.3 million, despite a 29.2 percent expansion in revenue to RM780.5 million that came on the back of higher gas sales volume. IQ Group Holdings, a niche player in sensor-controlled light-emitting diode (LED) lighting, is looking to penetrate the Middle East market over the next 12 months through tie-ins with trade show events. Vitrox Corporation has orders in hand of RM15 million to RM17 million worth of vision inspection equipment, which would be delivered by March.

Malaysia stock market and companies daily report (February 13, 2015)

February 13, 2015, Friday
Maybank Investment Bank (Maybank IB) Research said on Friday that MPHB Capital is selling its 49 percent stake in Multi-Purpose Insurans to Generali Asia for RM335.8 million. Malaysian Resources Corporation (MRCB) will be selling some of its buildings in KL Sentral once it obtains a reasonable amount of revenue in order to have strong operating profits. CIMB Equities Research predicts that Petronas Dagangan’s 1Q15 performance will improve as a result of the rebound in the oil price and the introduction of the managed float system for RON 95 petrol and diesel on 1 December 2014.

Malaysia stock market and companies daily report (February 12, 2015)

February 12, 2015, Thursday
For the second quarter ended 31 December 2014, Berjaya Assets reported a 149.3 percent surge in net profit to RM40.5 million, underpinned by higher profit contribution from its property development and investment business segment arising from higher rental income and higher gain registered on disposal of quoted shares amounting to RM42 million. For the financial year ended 31 December 2014, Daibochi Plastic and Packaging Industry’s net profit fell 13.5 percent to RM23.7 million despite an 11 percent rise in revenue.

Malaysia stock market and companies daily report (February 11, 2015)

February 11, 2015, Wednesday
The world’s largest synthetic glove manufacturer Hartalega Holdings’ net profit declined by 14.4 percent from RM57.9 million in 3Q14 to RM49.5 million in 3Q15 as a result of a lower average selling price caused by declining raw material prices, more competitive selling prices and a rise in electricity and natural gas cost. Hup Seng Industries’ 4Q14 turnover expanded 10.4 percent to RM73.6 million and net profit jumped 34.6 percent to RM12.6 million, underpinned by increased domestic and export sales on the back of robust growth in demand for its cream crackers.

Malaysia stock market and companies daily report (February 10, 2015)

February 10, 2015, Tuesday
CIMB Group Holdings recently announced that it would undergo a major reshuffling, coined T18, to bring its cost-to-income ratio down to less than 50 percent by 2018, from 58 percent currently. Despite a 12.1 percent decline in turnover to RM570.3 million, Dialog Group posted a 20 percent leap in net profit to RM79.7 million for the second quarter ended 31 December 2014, due to better margin by the upstream activities in Malaysia and a gain on the disposal of the group’s other investment. For the fourth quarter ended 31 December 2014, DiGi.Com posted a 3.8 percent and 2.1 percent increase in top and bottom lines, to RM1.8 billion and RM560 million respectively.

Malaysia stock market and companies daily report (February 09, 2015)

February 9, 2015, Monday
Fututech announced the execution of a heads of agreement (HOA) with the firm’s major shareholders, Datuk Tee Eng Ho, Datin Toh Siew Chuon and Tee Eng Seng, to commence exclusive negotiations for the proposed acquisition of construction outfits, Kerjaya Prospek (M) and Permatang Bakti, for RM380 million. Sarawak Cable (SCB), which acquired Universal Cable (M) and Leader Cable Industry in December 2014 for RM210 million, views Singapore and Australia as its key markets to push for the export of its newly launched 275-kilovolt (kV) underground high-voltage power cables.

Malaysia stock market and companies daily report (February 06, 2015)

February 6, 2015, Friday
Guinness Anchor said its strategy to leverage on its new brands in addition to the measures taken by enforcement officers against contraband products is showing results. Lower profit contributions from offshore and marine segments have led to an 83.8 percent fall in net profit to RM16.5 million for Malaysia Marine and Heavy Engineering Holdings (MMHE) in 4Q14. Public Bank’s FY14 net profit jumped 11.2 percent to a record RM4.5 billion, while revenue expanded 10.5 percent to RM16.9 billion.

Malaysia stock market and companies daily report (February 05, 2015)

February 5, 2015, Thursday
Caring Pharmacy Group’s 1H15 results were below BIMB Securities’ estimates. This year, IFCA MSC is expected to receive a short-term boost from GST software upgrades. Muhibbah Engineering (M) has been awarded a US$32 million (RM116 million) contract by Spanish oil engineering company Tecnicas Reunidas to design and build temporary construction facilities and accommodation in Pengerang, Johor.

Malaysia stock market and companies daily report (February 04, 2015)

February 4, 2015, Wednesday
With 2015 being a fairly resilient year, Hong Leong Bank feels that its prudent growth approach in the past might pay off despite the structural and cyclical headwinds weighing down the banking sector. Mitrajaya Holdings’ ambitious goal of RM1 billion of new contract wins for FY15 has trumped analysts’ conservative expectations. Prestariang expects to see better growth in its earnings for FY15, following its appointment as the sole Microsoft licensing solutions partner two weeks ago.

Malaysia stock market and companies daily report (February 03, 2015)

February 3, 2015, Tuesday
Shares of dairy companies Dutch Lady Milk Industries and Fraser & Neave Holdings (F&N) have seen strong gains in the year-to-date as a result of investor expectations that low raw material prices will lead to a rise in profit margins. Eco World Development Group (Eco World), UDA Holdings (UDA) and the Employees Provident Fund board (EPF) will be signing a tripartite agreement for a 40:40:20 joint venture to develop the RM8 billon Bukit Bintang City Centre (BBCC) project, which will consist of an integrated residential and commercial development.

Malaysia stock market and companies daily report (February 02, 2015)

February 2, 2015, Monday
Astro Malaysia Holdings has officially launched its new 24-hour shopping service, Go Shop, which was set up in a 60:40 joint venture with South Korean multimedia retailer GS Home Shopping, and aims to achieve RM500 million revenue by 2019 for the new shopping channel. Hua Yang has entered into agreements for the acquisition of 8.1 acres of leasehold land along the Middle Ring Road 2 for RM120 million, to build a high-rise mixed development project with an estimated gross development value (GDV) of RM800 million.

Malaysia stock market and companies daily report (January 30, 2015)

January 30, 2015, Friday
Bursa Malaysia recorded a 12.8 percent and 57 percent increase in total income and net profit to RM128.5 million and RM53.1 million respectively in 4Q14. Oil and gas (O&G) exploration company Hibiscus Petroleum will be more aggressive in looking for opportunities despite the currently volatile market environment. Jaya Tiasa Holdings’ 2Q15 log and fresh fruit bunch (FFB) production declined partly due to bad weather that affected the harvesting process.

Malaysia stock market and companies daily report (January 29, 2015)

January 29, 2015, Thursday
LPI Capital’s earnings shot up by 40.5 percent to RM283 million in FY14, as a result of a boost from its unit Lonpac Insurance (Lonpac). Press Metal will invest RM2 billion in the Phase 3 expansion of its aluminium smelter project to raise production capacity, which will bring its total investment in aluminium smelting facilities in Sarawak to RM5.5 billion. CIMB Equities Research said that UMW Oil & Gas Corporation (UMW O&G) is on the verge of a new phase of international expansion after building a solid presence in Southeast Asia, with a potential contract in the Middle East by year-end.

Malaysia stock market and companies daily report (January 28, 2015)

January 28, 2015, Wednesday
Benalec Holdings’ 70 percent-owned subsidiary Spektrum Kukuh and the Johor state government has received the Department of Environment’s (DOE) approval to commence reclamation work for its Tanjung Piai petroleum hub and industrial park in the Straits of Johor. Payment solutions provider GHL Systems’ wholly owned subsidiaries GHL Cardpay and GHL Epayments have taken up an agreement with Global Payments Card Processing Malaysia whereby the company will offer the latter sales, marketing and on-boarding services to help it acquire eligible new merchants.

Malaysia stock market and companies daily report (January 27, 2015)

January 27, 2015, Tuesday
CapitaMalls Malaysia Trust (CMMT) is revisiting the acquisition of Tropicana City Mall and Tropicana City Office Tower, after a previous attempt to acquire the two properties in 2013 miscarried due to disagreement on the terms of sale and purchase between the company and the vendor, Tropicana Corporation. CIMB Equities Research warned that Felda Global Ventures Holdings may lose its position in the 30-stock FBM KLCI due to its lower market capitalisation. KLCC Properties’ FY14 core net profit has reached RM711.2 million after the inclusion of its 4Q14 core net profit of RM205.1 million, according to CIMB Equities Research.

Malaysia stock market and companies daily report (January 26, 2015)

January 26, 2015, Monday
Pensonic Holdings plans to adopt a new business model to market its latest smart power bank device under the fonebud brand, which is to offer the ownership of the fonebud brand to distributors, who had hit a consistent sales target over a two-year period. WCT Holdings aims to clinch RM2 billion worth property development and construction jobs this year. The group is targeting RM1 billion worth of jobs in Malaysia and another RM1 billion from the Middle East and other overseas market.

Malaysia stock market and companies daily report (January 23, 2015)

January 23, 2015, Friday
Kenanga Research predicts a weak property market over the next six to nine months, thus reducing its 2015 and 2016 sales earnings estimates for Hua Yang by 14 percent and 12 percent to RM501 million and RM529 million respectively. IJM Land is optimistic that its “re-imagined” Sherwood development at Kinrara South Puchong, which has bungalows priced from RM2.9 million each, will be fully sold before year-end in spite of the weakening property market. Malaysian Pacific Industries (MPI)’s 2Q15 net profit tripled from RM8.1 million in the same period a year ago to RM24.1 million on the back of a 6.9 percent rise in revenue to RM338.3 million.

Malaysia stock market and companies daily report (January 22, 2015)

January 22, 2015, Thursday
Econpile Holdings announced that its wholly-owned subsidiary has clinched a RM129 million 23-month piling job from Damai City, the largest contract that the group has obtained since its listing last June. Just as the Johor property scene is experiencing a heightened state of wariness, Iskandar Waterfront City (IWCB) unit Southern Crest Development has established a joint venture (JV) with a subsidiary of Shanghai-based state developer Greenland Holdings Group to buy 128 acres of mostly submerged land from IWCB for a sum of RM2.4 billion.

Malaysia stock market and companies daily report (January 21, 2015)

January 21, 2015, Wednesday
Fitters Diversified is expected to have the third production line in its oriented-PVC pipe manufacturing plant at Gebeng, Kuantan up and running by June. Fraser & Neave Holdings is wary about the impact of a weak ringgit on commodity prices and the menace of rising inflation after the introduction of the goods and services tax (GST) on April 1 but remain hopeful for the year ahead. IRIS Corporation is forming a joint venture (JV) with Technology Park Malaysia Corporation (TPM) to develop a residential project on a 28.9 acre piece of land in Phase 3 TPM Bukit Jalil.

Malaysia stock market and companies daily report (January 20, 2015)

January 20, 2015, Tuesday
Eastern & Oriental’s (E&O) subsidiary, Eastern & Oriental Property (UK) (EOPUK), has entered into a property sale with GEMS Hammersmith (Luxembourg) SARL through EOPUK’s unit Hammersmith Properties, for the acquisition of Landmark House and Thames Tower in London for GBP57 million (RM308.9 million). Maybank Investment Bank Research notes that Quill Capita Trust’s 4Q14 core net profit softened to RM8.5 million mainly as a result of higher costs, which consequently led to an FY14 net profit of RM34.2 million which was within expectations.

Malaysia stock market and companies daily report (January 19, 2015)

January 19, 2015, Monday
Amalgamated Industrial Steel (AISB) wants to diversify its business to include property development to diversify its earnings base and to enhance its overall long term growth prospects, with the proposed diversification expected to be implemented this year. Affin Hwang Research has expressed its likes for Inari Amertron, given its position as a leading radio frequency test house in the region. Uzma’s unit, Uzma Engineering, has secured a Petronas Carigali contract to provide tubing downhole tools and services, which will last for two years starting from 1 January 2015, with an extension option of one year.

Malaysia stock market and companies daily report (January 16, 2015)

January 16, 2015, Friday
RHB Research has reaffirmed its positive view on OCK Group after its recent meeting with its new chief executive officer (CEO) and updates on its plans. Malaysian Resources Corporation (MRCB)’s share price is seeing a revival and active trading, after the lifting of a trading restriction on two of its major shareholders, Employees Provident Fund (EPF) and Gapurna, following the completion of a RM729 million asset injection deal. The proposed RM250 million disposal of MISC’s logistics business, MISC Integrated Logistics (MILS) to Golden Age Logistics has been terminated as GAL was not able to fulfil its obligations for completion, according to Maybank KE Research.

Malaysia stock market and companies daily report (January 15, 2015)

January 15, 2015, Thursday
Alliance DBS Research notes that construction works on Kossan Rubber Industries’ three new plants have been completed. Sona Petroleum has cancelled its plan to acquire a 40 percent stake in UK-listed Salamader Energy’s Thai unit, Salamander Energy (Bualang Holdings), for RM912 million. TMC Life Sciences, hopes to spend up to RM300 million to expand the facilities at its flagship Tropicana Medical Centre in Kota Damansara, Petaling Jaya and provide its patients there with improved and more comprehensive service to meet the growing demand of the surrounding community and the Klang Valley.

Malaysia stock market and companies daily report (January 14, 2015)

January 14, 2015, Wednesday
AmResearch has maintained its Buy call on DRB-Hicom with an unchanged fair value of RM3.60 a share. Tek Seng Holdings, a solar cell and polyvinyl chloride (PVC) manufacturer, expects its solar segment to contribute handsomely to its FY15 revenue after its subsidiary TS Solartech entered into a memorandum of understanding with Taiwan-based Solartech Energy Corporation. With several new launches planned, Tropicana Corporation hopes its sales will touch RM2 billion by year-end.

Malaysia stock market and companies daily report (January 13, 2015)

January 13, 2015, Tuesday
The proposed mega merger of CIMB Group Holdings, RHB Capital (RHBCap) and Malaysia Building Society (MBSB) is off and an announcement is expected before the end of the week. Kimlun Corporation (Kimlun) announced last week that it had secured two projects with a collective contract value of RM110.6 million. Tenaga Nasional (TNB) is putting a lot of money upfront to acquire Integrax, the Lumut Port operator in Perak, but the utility firm could be looking at a huge cost saving in the future ahead of the commissioning of its new power plants in nearby Manjung.

Malaysia stock market and companies daily report (January 12, 2015)

January 12, 2015, Monday
Axiata group’s Malaysian telco, Celcom Axiata, foresees 2015 as an opportunity to revisit its current business models, which are believed to remain sustainable in the long run, and to adopt innovative ways to develop up-and-coming new models. Malaysia Airports Holdings’ (MAHB) aim to be an international player will not mean it will pay less emphasis on the development of smaller airports in Malaysia, according to managing director Datuk Badlisham Ghazali. A high level initiative has started for a proposal for the property arm of Sime Darby to take over SP Setia and has been conveyed to the top brass of Sime Darby and Permodalan Nasional (PNB), the major shareholder of SP Setia.

Malaysia stock market and companies daily report (January 09, 2015)

January 9, 2015, Friday
Plantation group Kuala Lumpur Kepong (KLK) is selling 20 percent stake in wholly owned subsidiary, KLK Premier Capital to Japan-based Mitsui & Co for RM154 million cash. CIMB Equities Research advises investors to accumulate Perisai Petroleum shares as it retains the target price at RM0.63, which is 46.8 percent higher than the last traded price of RM0.43. Top Glove Corporation, the world’s largest rubber glove maker, is expecting FY15 to be a better year compared with FY14, which the company deemed “tough”.

Malaysia stock market and companies daily report (January 08, 2015)

January 8, 2015, Thursday
Puncak Niaga Holdings is in talks with China and countries in Latin America and ASEAN, among others, to provide maintenance services to their oil and gas (O&G) industries. Scomi Energy Services has been awarded a two year RM175.4 million contract of affreightment (COA) for carriage of bulk coal by TNB Fuel Services (TNBF), with an option for TNBF to extend it for another year. CIMB Equities Research maintains an ‘Add’ recommendation on Westports Holdings with a probability-weighted discounted cashflow target price of RM4.57.

Malaysia stock market and companies daily report (January 06, 2015)

January 6, 2015, Tuesday
Eversendai Corp, a structural steel turnkey contractor, has secured a RM44 million contract through its Dubai subsidiary for the connection design, fabrication, supply and erection of structural steel works for the new 5,000 seat Nas Indoor Futsal and Volleyball Arena, which will be used to host international tournaments. Kenanga Research said that diversified conglomerate IJM Corp is entering a new growth phase as most of its major drivers have gone into “earnings expansion mode”.

Malaysia stock market and companies daily report (January 05, 2015)

January 5, 2015, Monday
Superlon Holdings’ generous dividend payout has put the manufacturer of insulation products on investors’ radar. The recent surge in share price has been deemed unsustainable by CIMB Equities Research and the research house has lowered its rating on Jobstreet from Hold to Reduce. City-Link Express is considering a main market listing on Bursa Malaysia in the next three years.

Malaysia stock market and companies daily report (January 02, 2015)

January 2, 2015, Friday
Environment technology company, Cypark Resources, saw its net profit in 4Q14 fall 28.2 percent from RM8.9 million in the same period a year earlier to RM6.4 million while its revenue dropped 11.8 percent to RM50 million. Plantation group Kim Loong Resources recorded a 3.7 percent dip in 3Q15 net profit to RM15.2 million due to a RM3 million impairment of assets and provision for the financial implications of a 1 December 2009 court case against its subsidiary, Winsome Pelita, regarding their customary rights to land which is expected to result in an unfavorable outcome for the firm.