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Reports » Malaysia

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.

Malaysia stock market and companies daily report (August 27, 2014)

August 27, 2014, Wednesday
Carlsberg Brewery Malaysia (Carlsberg) posted a 3.3 percent year on year increase in revenue to RM356 million in 2Q14 from RM344.5 million in 2Q13. For the quarter ended 30 June, Dutch Lady Milk Industries registered a 7.4 percent jump in revenue to RM268.2 million, on the back of volume progression and price adjustments. For the year ended 30 June, Hong Leong Financial Group’s (HLFG) net revenue rose 4.2 percent to RM4.6 billion, bolstered by improved performances across all three business divisions, namely commercial banking, insurance and investment banking.

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

August 26, 2014, Tuesday
AMMB Holdings has decided to divest its wholly-owned subsidiary, AmFraser Securities, to Taiwan-based stockbroking company, KGI Asia, for a consideration of RM96.3 million. Eversendai Corporation has secured a RM113 million contract for total renovation works on the Khalifa Olympic Stadium in Doha, Qatar. For the quarter ended 30 June, Felda Global Ventures Holdings’ (FGV) revenue surged 36.5 percent to RM4.1 billion, underpinned by higher crude palm oil prices and the consolidation of Felda Holdings into FGV.

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

August 25, 2014, Monday
For the quarter ended 30 June, AMMB Holdings’ revenue increased 8.4 percent year-on-year to RM2.6 billion from RM2.4 billion while net profit rose 16.2 percent year-on-year to RM536.9 million from RM462 million underpinned by a one-time gain from sale of a circa 50 percent partnership stake in AmLife and AmFamily Takaful. Daya Materials has acquired two dynamic positioning class 2 offshore subsea construction vessels from Siem Offshore Rederi AS (SORA) for RM888.2 million. UMW Engineering Services, a unit of UMW Holdings, has agreed to supply over 60 units of Komatsu equipment in Myanmar worth RM200 million.

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

August 22, 2014, Friday
Kumpulan Europlus has entered into a memorandum of understanding (MOU) with Tan Sri Dato’ (Dr) Ir Chan Ah Chye to sell 840 million shares in Talam Transform to the latter for RM92.4 million, or RM0.11 per share. For the three months ended 30 June 2014, Scomi Energy Services posted revenue of RM365.7 million, up 14 percent year-on-year, driven by improved activity levels in its oilfield service division and a new contract secured in its marine services division. Selangor Dredging expects to launch new projects worth RM500 million in the next six to nine months, enhancing its portfolio of niche development and increase its earnings in the coming years.

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

August 21, 2014, Thursday
In its 2Q14, Boustead Plantations posted a net profit of RM9.4 million on revenue of RM188.7 million. Despite posting lower revenue for the quarter ended 30 June 2014, IOI Corporation’s net profit soared 50.5 percent to RM407.5 million. Oldtown aims to open 21 to 27 new cafes in Malaysia, Singapore, Indonesia and Australia by FY15.

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

August 20, 2014, Wednesday
Bumi Armada’s subsidiary, Bumi Armada Offshore Holdings, together with its joint venture company, PT Armada Gema Nusantara, have been contracted to lease a floating production, storage and offloading vessel (FPSO) to Husky-CNOOC Madura. Over various dates between 11 June and 18 August, Masterskill Education Group sold its entire stake in HK-listed restaurant operator, Gayety Holdings, for RM33.2 million. Parkson Holdings has proposed to dispose KL Festival City Mall, measuring approximately 487,342 square feet (sqf) in net lettable area (NLA), to Festiva Mall and AsiaMalls for RM349 million in cash.

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

August 19, 2014, Tuesday
SMTrack has entered into a joint venture (JV) with Chongqing Zhenxin Investment (CZI) to conduct information technology and related applications to facilitate trade and distribution within the Chongqing free trade zones in China. For the three months ended 30 June 2014, Star Publications (Malaysia) posted a 9.2 percent rise in turnover to RM274.5 million while net profit grew 38 percent to RM39.4 million. Tune Ins Holdings (TIH) recorded a 14.9 percent increase in pre-tax profits to RM37.9 million in the first half of financial year 2014. First half revenue rose 17.4 percent to RM215.5 million from RM183.5 million in 1H13.

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

August 18, 2014, Monday
Icon Offshore’s subsidiary, Icon Fleet, has agreed to form a 49:51 joint venture (JV) with Zell Transportation to provide offshore support vessels (OSV) to service contracts and operations in Negara Brunei Darussalam. Malaysia Building Society (MBSB) posted a 9.4 percent year-on-year increase in revenue to RM672.1 million in 2Q14. Texchem Food, a subsidiary of Texchem Resources, has inked a JV with Mascot Industries Company to process seafood and manufacture seafood value-added products in Myanmar.

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

August 15, 2014, Friday
In the quarter ended 30 June 2014, Media Prima posted a net profit of RM35.8 million down 40.4 percent year-on-year, in line with a 16.7 percent narrowing of turnover to RM388.6 million. Malaysian Resources Corporation will pay RM816.6 million for a 70 percent interest in a joint venture (JV) with the Employees Provident Fund Board’s unit, Kwasa Land, to develop Project MX1 in Selangor, which is expected to have a gross development value of RM8 billion. For its 2Q14, OSK Property Holdings posted revenue of RM184 million, up 77.4 percent from a year earlier on the back of achieving more advanced construction progress for its on-going projects.

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

August 14, 2014, Thursday
Boustead Heavy Industries Corporation (BHIC) recorded a 7.5 percent year-on-year increase in revenue to RM66.5 million in 2Q14, underpinned by the chartering segment due to higher average charter as well as the Belum topside project also contributed marginally to the revenue from the heavy engineering segment. Berjaya Assets reported a 2.7 percent year-on-year increase in revenue to RM106.5 million in 4Q14, underpinned by contributions from the gaming business segment operated by Natural Avenue due to higher number of draws in the current quarter under review as compared to the previous year corresponding. CLIQ Energy has narrowed down two assets, which range from pre-development to production types, from five shortlisted qualifying assets (QA) to acquire.

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

August 13, 2014, Wednesday
Grand-Flo aims to generate half of its revenue from its new venture in property development by next year. Its venture into property development will be driven by its acquisition of a 50 percent plus one share of Innoceria for RM15 million. Malayan Banking (Maybank) has launched Etiqa Insurance in 22 branch offices located in Singapore. Nestle (Malaysia) registered a 4.6 percent growth in revenue to RM1.3 billion for the second quarter ended 30 June 2014, stemmed from better sales through marketing and promotional activities.

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

August 12, 2014, Tuesday
Mah Sing Group will develop its biggest freehold township, at a gross development value (GDV) of RM7.5 billion with its acquisition of 960 acre land in Seremban. Petronas Chemicals Group’s earnings fell 42.1 percent year-on-year to RM555 million in 2Q14, underpinned by lower volumes and prices of fertilizers and methanol. Brahim’s Holdings may be impacted as Malaysian Airline System (MAS) decide to cut capacity on its long haul routes; shorter routes would only require loading of two sets of meals on board unlike the need for two to three sets of meals for long-haul routes.

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

August 11, 2014, Monday
Fitters Diversified expects its RM90 million pipe manufacturing plant in Kuantan, to be completed in 4Q14 with three production lines churning out RM150 million in revenue and subsequently, doubling that by 4Q15, enabling it to be Fitters’ main revenue contributor. Karex has proposed to acquire a 55 percent interest in US-based Global Protection Corporation (GPC) for US$6.6 million (RM21 million). Mah Sing Group will develop four residential projects with two located in Kuala Lumpur (KL) and two located in Penang.

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

August 8, 2014, Friday
Pelaburan Mara Bhd (PMB) has acquired a 9.7 percent stake in BHS Industries, increasing its stake to 18 percent. KNM Group’s subsidiary, KNM Process Systems, has been selected as the sub-contractor for a US$1.3 billion project that Sinopec Engineering Group Co secured from PRPC Refinery And Cracker. Singapore billionaire Peter Lim has launched a mandatory general offer (MGO) for the remaining 40.8 percent of TMC Life Sciences at RM0.48 per share and RM0.08 a warrant.