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Reports » Malaysia

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

March 27, 2015, Friday
Construction services provider Bina Puri Holdings has secured an RM291.2 million project from the Energy, Green Technology and Water Ministry, to build a sewage treatment plant in Titiwangsa, Kuala Lumpur, which is expected to contribute positively to the net assets and earnings of the group in the current financial year. For the second quarter ended 31 January 2015, Gamuda recorded a 26.2 percent rise in revenue to RM653.2 million, attributable to its additional stake in Kesas, the concession holder of Shah Alam Expressway.

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

March 26, 2015, Thursday
Maybank Investment Bank Research predicts a better second half year of 2015 for AirAsia X (AAX), mentioning that business recapitalisation was crticial for survival while its rights issue was progressing on schedule. DGB Asia is looking to ramp up its operations in Vietnam and Thailand, as part of its plan to increase overseas revenue contribution to 50 percent within a year from the current 30 percent. Eco World Development Group’s associate company Eco World International will undertake its second international project, the development of a 300-unit residential project in Paramatta, Sydney.

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

March 25, 2015, Wednesday
Fajarbaru Builder, unit of Fajarbaru Builder Group (FBG) has clinched an RM108.97 million contract from Prasarana Malaysia to complete the remaining works of the Kelana Jaya light rail transit (LRT) project. Berjaya Land’s net loss widened by 35 percent to RM26.6 million from RM19.7 million for the third quarter ended 30 April 2015, on the back of a 6 percent increase in revenue to RM1.4 billion. SapuraKencana Petroleum (SapKen) saw its net profits tumble 61.7 percent to RM129.1 million in the fourth quarter ended 31 January 2015 compared to RM337.2 million previously.

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

March 23, 2015, Monday
Tropicana launched The Residences simultaneously in Malaysia, Singapore, Taiwan, China, Indonesia and Hong Kong on 21 March 2015. Hong Leong IB Research has maintained a “Buy” rating on AirAsia at RM2.22 with an unchanged target price of RM3.30 after AirAsia’s announcement to dispose 11 A320s for US$271 million (RM1 billion) under sales and lease back agreements. Poh Huat Resources’ year-on-year net profit rose 29.5 percent to RM8.1 million as revenue increased by 10 percent to RM105.1 million, attributed to operational improvements in the Malaysian oeprations and favourable US dollar movement against the ringgit.

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

March 20, 2015, Friday
CIMB Equities Research said Eco World Development’s 1Q15 net profit was within expectations and made up 8 percent of its full year forecast. Property and education group Paramount Corporation is targeting an annual double-digit growth over the next five years. It has four ongoing property development projects with an average of approximately five years of construction left to go. Vitrox Corporation, an automated machine vision inspection system equipment and service provider, is expected to chalk up double-digit growth in sales this year, underpinned by healthy industry outlook and opportune capacity expansion.

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

March 19, 2015, Thursday
EA Holdings is looking to acquire 20% equity interest in Cekap Air RM47 million which will allow it to diversify its existing business operations into mechanical and electrical (M&E) engineering and construction project management consultancy businesses. Glomac posted a 3 percent increase in its net profit to RM23.4 million for 3Q15 against the RM22.7 million it recognized a year ago on the back of a fair value gain on investment properties. Top Glove Corporation, which is presently in a net cash position of RM142.8 million, is on the lookout for merger and acquisition (between RM10 million and RM1 billion) opportunities to widen its business scope.

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

March 18, 2015, Wednesday
Shares of IHH Healthcare continued to ascend this week as investors stayed unmoved despite the failure of the company’s plans to acquire Singapore’s Radlink-Asia. Petron Malaysia Refining and Marketing, Malaysia’s third largest fuel retailer, is expected to continue to invest heavily – close to RM3.7 billion (US$1 billion) – over the next few years to expand its network and upgrades at its 88,000-barrel-per-day Port Dickson refinery in the highly competitive domestic market. Sumatec Resources signed a conditional agreement with Markmore on 28 August 2014, to buy the entire stake in Borneo Energy Oil and Gas, which consists of would-be subsidiary Buzachi Neft, for RM1 billion (US$290 million).

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

March 17, 2015, Tuesday
Eversendai Corporation has clinched RM864 million worth of contracts since January 2015, with the most recent being two contracts in Saudi Arabia worth RM246 million. Gabungan AQRS and Suria Capital Holdings are collaborating on a mixed development in Sabah known as the “One Jesselton Waterfront”, estimated to have a net sale value (NSV) of RM1.8 billion. Karex, the world’s top condom manufacturer, may be searching for more merger and acquisition (M&A) deals, following a recent placement exercise where it raised RM158 million.

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

March 16, 2015, Monday
BIMB Holdings reported a more than two-fold increase in net profit to RM153.9 million for the fourth quarter ended 31 December 2014, on the back of a 4.4 percent rise in revenue to RM761.5 million. Property developer Ibraco is embarking on another major joint-commercial centre project with a gross development value (GDV) of RM212 million in the prime greater Tabuan area along the Kuching-Kota Samarahan Expressway, which will comprise 112 units of three-storey shop-offices, as well as a parcel set aside for a private school/institute of higher learning.

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

March 13, 2015, Friday
CCM Duopharma Biotech, a key player in the fertilisers, chemicals and pharmaceuticals industries, is poised to become one of Malaysia’s largest pharmaceutical manufacturers following its RM245.1 million purchase of six pharmaceutical units from parent company, Chemical Company of Malaysia (CCM). Petra Energy’s wholly-owned subsidiary, Petra Resources, has won a 14 month contract on a call-out basis from the Sabah Shell Petroleum Co to provide topside maintenance execution services for the Gumusut-Kakap floating production system (FPS).

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

March 12, 2015, Thursday
Faber Group, a 70.7 percent-owned unit of UEM Group, has finally sealed a new concession for the provision of support services to government hospitals in Perak, Penang, Kedah and Perlis. CIMB Equities Research said SP Setia’s 1Q15 results met its expectations as core net profit made up 15 percent of full-year forecast and 20 percent of consensus estimates. According to CIMB Equities Research, Sunway hopes to hit RM1.7 billion in total property sales for FY15, a figure which is the same as FY14’s.

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

March 10, 2015, Tuesday
Affin Holdings’ unit, Affin Banking Group (ABG) is concentrating on sustaining profit growth in its commercial banking business but it will be more aggressive in expanding its investment banking unit. Hong Leong Investment Bank (HLIB) Research said Tambun Indah has officially launched its first-of-its-kind duplex villas in Raintree Park @ Pearl City in January 2015 with a promising booking and take-up rate. A joint venture headed by construction firm WCT Holdings has clinched a RM1.2 billion contract in Qatar’s capital Doha to build roads, utilities and underground car parks, with works expected to be completed in 2Q17.

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

March 9, 2015, Monday
Boustead Holdings is buying a 50 percent stake in Irat Properties, which recently signed a deal to buy the entire stakes in ATES and Beta Tegap, the joint operators of the automated traffic enforcement system (AES) in Malaysia. Furniture player HeveaBoard is gaining interest among institutional investors, according to CIMB Equities Research, who believes these investors hold a combined 15 percent to 20 percent stake in the firm.

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

March 6, 2015, Friday
Alam Maritim Resources received a two-year umbrella contract starting from January 2015 for the provision of spot charter for marine vessels from Petronas Carigali for its Malaysian operations, with an option for a one-year extension. Deleum’s RM3.8 billion order book provides long term earnings visibility as the group’s lengthiest contract extends to 2023, according to AllianceDBS Research. PPB Group will be allocating RM535 million of capital expenditure over the next two to three years primarily to expand its Golden Screen Cinemas (GSC) chain and grow its flour and feed milling and grains trading business.

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.