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Reports » Malaysia

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

August 1, 2014, Friday
George Kent (Malaysia), a firm mainly involved in infrastructure construction and the water meter sector, is eyeing a diversification into the oil and gas (O&G) sector. Sime Darby announced that it is the preferred party for Kulim’s (Malaysia) 49 percent interest in New Britain Palm Oil (NBPO). A consortium comprising of Zelan’s subsidiary, Zelan Construction, has won a contract for the construction of a drawbridge in Kuala Terengganu City Centre worth RM248.7 million.

Malaysia stock market and companies daily report (July 31, 2014)

July 31, 2014, Thursday
China Stationery (CSL) has disclosed an estimated loss of Rmb332.7 million arising from a fire that occurred at its plant in Fujian province, China, on 4 April, 2014. Opcom Holdings has proposed to acquire a 40 percent interest in Unigel (UK), a firm involved in lubricant pumping equipment, lubricants and consumables, for US$3.7 million (RM11.7 million). Scomi Energy Services has proposed a renounceable rights issue of up to RM140.5 million five-year redeemable convertible bonds, expected to be completed by 1Q15.

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

July 30, 2014, Wednesday
SP Setia shifts its focus away from high-end development properties as it intends to put up more options of affordable housing over the next five years in Penang. Sources have indicated that Titijaya Land is intending to submit a proposal to KTMB for the construction of a commercial building on a piece of land in the Klang Valley. With the impending implementation of the goods and services tax (GST) on 1 April 2015, UEM Sunrise sees demand for homes tapering off.

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

July 29, 2014, Tuesday
Country Height Holdings’ tourism unit, Palace Vacation Club, has formed a pact with Cherish-Yearn Co to improve aged care services in Asia. In line with Genting Malaysia’s aim to increase yields per customer in the long term, through its Integrated Tourism Plan, the firm has strategised to increase its mix of premium mass customers aside from raising overall visitor volumes. For the quarter ended 30 June, 2014, LPI Capital’s net profit surged 9.9 percent to RM51.2 million, up from RM46.6 million a year earlier.

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

July 25, 2014, Friday
Malaysian Resources Corporation (MRC) has agreed to acquire the remaining 51 percent stake in Penang Sentral, which it does not own, for RM50.8 million. Boustead Holdings has proposed the acquisition of the Hyde Park Hotel in London, United Kingdom, for RM139 million. Tenaga Nasional (TNB) has signed an agreement with SIPP Energy for a joint venture (JV) to build, own and operate a power plant of approximately 1000MW to 1400MW in Pasir Gudang, Johor.

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

July 24, 2014, Thursday
Berjaya Food plans to acquire the remaining 50 percent stake in Berjaya Starbucks Coffee Company for RM279.5 million. CIMB Group Holdings’ 60 percent-owned subsidiary, CIMB-Principal Asset Management Co (CPAM), has proposed to Thai-based Finansa Asset Management (FAM) for THB225 million (RM22 million). Robust growth in the container segment lifted Westports Holdings’ 2Q14 top line 1.9 percent to RM409 million.

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

July 23, 2014, Wednesday
Talam Transform does not see a turnaround of its financial performance in the short term but expects an improvement over the medium or longer term. Tenaga Nasional (TNB) has secured a power purchase agreement (PPA) with Jimah East Power, a consortium of 1Malaysia Development and Mitsui & Co. WCT Holdings has bagged a RM341.9 million contract for the construction of roads within the Refinery and Petrochemical Integrated Development site in Pengerang, Johor Bahru.

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

July 22, 2014, Tuesday
Jakarta lawmakers are mulling over a proposed bill that requires foreign banks to reduce their stakes in Indonesian banks to 40 percent. Asian Utilities, an indirect unit of Gadang Holdings, has proposed to buy a 70 percent stake of Indonesia’s PT Dewata Bangun Tirta (DBT) for IDR55 million (RM14.9 million). Together with Luxmark View and Sheeco Properties, SYF Resources will develop 8.1 acres of freehold land in Cheras, Selangor Darul Ehsan, into a residential project with a gross development value (GDV) of RM160 million.

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

July 21, 2014, Monday
Compared with RM800 million in sales expected for FY14, MKH is estimating turnover close to RM1 billion for FY15. The firm recorded RM580 million in sales for FY13. WZ Satu proposed to acquire Misi Setia Oil and Gas (O&G) for RM27 million. YGL Convergence Malaysia, YGL Convergence’s subsidiary, will provide system and implementation of YGL’s proprietary software to Country Heights Holdings (CHH) worth RM1.1 million.

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

July 18, 2014, Friday
Pursuant to the letter of award received from Malaysia’s Ministry of Defence (MOD) in December 2011, Boustead Naval Shipyard (BNS), a subsidiary of Boustead Holdings, has inked a RM9 billion contract to supply six ships to the country’s navy. Sumatec Resources plans to undertake a rights issue to partly fund its US$250 million acquisition of Borneo Energy Oil and Gas. The MH17 flight was allegedly shot down a Russian-made surface-to-air missile while flying over eastern Ukraine en route to Kuala Lumpur from Amsterdam, killing all 298 people aboard. Tambun Indah Land will build a retirement village within its flagship integrated mix project ”Pearl City” in Simpang Ampat on Penang’s mainland.

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

July 17, 2014, Thursday
AirAsia X has agree to buy 50 Airbus A330-900neo jets, the latest version of best-selling widebody, with deliveries scheduled to begin in 2018. Felda Global Ventures Holdings (FGV) president and CEO Mohd Emir Mavani Abdullah has announced that FGV is looking spin off some of its companies under different clusters for listings, with the earliest happening only next year. Scomi Engineering announced that it will provide rolling stock technology, rolling stock and maintenance services to the planned RM5.9 billion ringgit subway project for Line 18 Bronze subway network in Sao Paolo, Brazil.

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

July 16, 2014, Wednesday
MSM Malaysia is on an expansion drive to become the world’s top three sugar makers by 2016. Instead of growing organically, MSM will embark in M&A as it claims to be the faster option. Following the news of Tambun Indah’s acquisition of 209.54 acres of land in Penang, RHB believe that the property developer is on track to be the largest listed landbank owner in Penang mainland. Hovid is looking to export to emerging markets and the middle east which it has yet to enter. RHB Research has estimated that its export contributions may rise to 56 percent in FY16 should this prove to be successful.

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

July 15, 2014, Tuesday
Tenaga Nasional’s (TNB) third quarter earnings ended May 31 could be affected by higher than expected costs due to the burning of more liquefied natural gas and distillates. Long term strategic opportunities could be derived, following Telekom Malaysia’s (TM) acquisition of Packet One Networks. TSH to acquire the entire issued and paid-up share capital in Icon Field Ventures (Icon) for RM24.48 million from Wingate Consolidation.

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

July 14, 2014, Monday
Aeon Co (M) acquired a piece of freehold land in Batu Pahat, Johor, for RM34.9 million to build a new shopping centre. Bina Darulaman (BD) has acquired 485 hectare (ha) of land spanning five districts in Kedah for RM204 million. Sumatec Resources is buying Borneo Energy Oil and Gas for US$250 million in cash and stock.

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

July 11, 2014, Friday
Malaysia’s industrial production index (IPI) improved 6 percent year-on-year in May, surpassing economists’ expectations of between 4 percent and 4.5 percent. Parkson Holdings has proposed to acquire a 60 percent stake in Giftmate and AUM Hospitality as well as a 50 percent stake in Valino International Apparel for a total cash consideration of RM59 million. Animation Theme Park, a joint venture between Perak Corporation and Sanderson Project Development Malaysia, is looking to develop Asia’s first animation theme park in Ipoh, Perak.

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

July 10, 2014, Thursday
RHB Capital (RHB), CIMB Group Holdings (CIMB) and Malaysia Building Society (MBSB) are seeking Bank Negara’s permission to merge. UMW Oil & Gas Corporation’s (UMWOG) business unit, UMW Offshore Drilling, has secured a contract by PTTEP International to provide drilling rig services for US$51.3 million (RM162.8 million). Yinson Holdings has received an offer from BW Offshore to either pare down or raise its stake in Petroleo Nautipa floating production, storage and offloading (FPSO) facility vessel.

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

July 9, 2014, Wednesday
Efficient Storage Solutions (Techpark), a subsidiary of Efficient E-Solutions, has agreed to purchase a 23,301 square metre freehold land located in the state of Negeri Sembilan for RM6.5 million. Fajarbaru Builder Group has been awarded a letter of acceptance from East Coast Economic Region Development Council for works on the proposed construction and completion of Kuantan Port City Port Link Road in Pahang, Malaysia, worth RM49.1 million. In a reorganisation exercise, Pelikan International Corporation is looking to inject its stationery business, including the manufacturing and distribution of writing instruments, into its subsidiary, Germany-listed Herlitz Aktiengesellschaft, in exchange for shares in the latter.

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

July 8, 2014, Tuesday
Fajarbaru Builder Group (FBG) has purchased three contiguous parcels of vacant land in Doncaster, Victoria Australia measuring 0.6 acres for a consideration of A$6.9 million (RM20.6 million). Following a corporate exercise with its Australian partner, 3D Oil, Hibiscus Petroleum will increase interest in its Australian oil and gas (O&G) exploration operations for US$23.5 million. Scomi International unveiled the potential of a monorail system in India as a feeder service provider to the metro rail, suburban railways and main railways in the metropolitan cities.

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

July 7, 2014, Monday
Fajarbaru Builder Group’s 51 percent-owned subsidiary, Billion Variety, has agreed to extract and sell timber from an approximate land area of 1,423 acres in Jerantut, Pahang, licensed to Cekal Kasih. Sime Darby’s property unit has agreed to divest 135 acres of freehold land in Elmina West to Eastern & Oriental (E&O) for a consideration of RM239.8 million. Together with Tradewinds (M), UDA Holdings is redeveloping Bukit Bintang Plaza (BB Plaza) into a 60-storey luxury condominium atop a three-level mall with a gross development value of about RM3 billion.

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

July 4, 2014, Friday
A solid order book and earnings visibility are two key reasons behind CIMB Research’s Add rating on SapuraKencana Petroleum. SP Setia’s share price climbed to a day-high of RM3.44 on 3 July before closing at RM3.39, up RM0.08 from its previous close, based on rumours that its major shareholder, Permodalan Nasional (PNB), could inject its unlisted assets into the firm. Together with PTS Properties, Yong Tai will develop a 29-storey luxury condominium hotel in Malacca, Malaysia, with a gross development value of RM120.9 million.

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

July 4, 2014, Friday
A solid order book and earnings visibility are two key reasons behind CIMB Research’s Add rating on SapuraKencana Petroleum. SP Setia’s share price climbed to a day-high of RM3.44 on 3 July before closing at RM3.39, up RM0.08 from its previous close, based on rumours that its major shareholder, Permodalan Nasional (PNB), could inject its unlisted assets into the firm. Together with PTS Properties, Yong Tai will develop a 29-storey luxury condominium hotel in Malacca, Malaysia, with a gross development value of RM120.9 million.

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

July 3, 2014, Thursday
Through a reverse takeover, Goh Ban Huat (GBH) has proposed to acquire Dynac for RM632 million. Eco World Development Group has bought 492.7 acres of land in Beranang, Ulu Langat, Selangor, for RM225.3 million. Axiata Group has moved to sell its 24 percent-interest in Samart i-Mobile Public Company to Samart Corporation Public Company for US$88.6 million.

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

July 2, 2014, Wednesday
AirAsia will enter into a partnership with four local companies to restart AirAsia Japan. Affin Investment Bank upgrades Hiap Teck Ventures to ‘Buy’ from ‘Add’ and raised its target price from RM0.78 to RM0.92 after Hiap Teck posted a higher-than-expected 3Q14 earnings. Genting Malaysia added a second bid for a casino license in the Orange County area of the Catskills and Hudson Valley in New York.

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

July 1, 2014, Tuesday
Malaysian Resources Corporation (MRC) brushed past five other property developers to secure the bid to develop a coveted parcel of land, measuring 64 acres, known as Project MX-1, into a mixed development. I-Bhd aims to derive half of its net profit from recurring income in the leisure and property investment segments within five years’ tim. RHB Capital has failed to get approval from the Financial Services Authority of Indonesia for its acquisition of a 40 percent stake in Indonesia’s Bank Mestika Dharma.

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

June 30, 2014, Monday
Ire-Tex Corporation will invest RM25 million in subsidiary, Zoomic Automation, over a two-year period to produce high-brightness energy efficient light-emitting diode (LED) tubes. Nibong Tebal Paper Mill Holdings (NTPM) is to invest RM20 million for a new plant in Nibong Tebal to expand its personal care product business to produce diapers, facial cottons and sanitary napkins. Maxis has signalled a possible dip in payouts as it intends to stop its practice of borrowing to part fund its dividend payout from 2015 onwards and has indicated that it would prefer to make its dividend payments solely from free cash flow it generates.

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

June 27, 2014, Friday
Malaysia Steel Works (KL) (Masteel) seeks to bring a closure to the controversial rail transit network project linking Iskandar Malaysia in Johor and Woodlands, Singapore that has yet to materialise. Hibiscus Petroleum is expecting to reap gains following the acquisition of a 25 percent stake in an oilfield located in Kitan. Puncak Niaga Holdings has identified a few potential pieces of land for acquisition as the company intends to diversify its business into the plantation business.

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

June 26, 2014, Thursday
SapuraKencana Petroleum unveiled its target to obtain RM10 billion worth of order book this year to ensure its visibility in the next three to four years. Teo Seng Capital (TSC) intends to lift its daily egg production from 2.8 million to 3.5 million by 2017. Wah Seong Corporation (WSC) has proposed to purchase a 49 percent interest in Alam-PE Holdings (L) for RM106 million.

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

June 25, 2014, Wednesday
Boustead Plantations aims to increase total plantation area by 20,000 hectare (ha) over the next five years through a greater use of new planting materials and techniques. With its move back into Indonesia in October 2013, Kulim (M)’s expects to expand its oil palm land-bank by about 40,000 ha in central Kalimantan and accelerate its new planting programme. Seacera Group has inked a memorandum of understanding with Intelligent Fence (M) to participate in a tender with the home ministry to build, operate and transfer an electricity security fence.

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

June 24, 2014, Tuesday
Ivory Properties Group (Ivory) intends to develop high-end residential properties with a gross development value of RM1.4 billion to RM2 billion on its 80-acre land bank in Penang over the next few years. Sentoria Bina, a subsidiary of Sentoria Group, has bagged an RM80 million main contract for the main building and infrastructure works of a proposed project under the 1Malaysia Housing Programme in Kuantan, Pahang. Together with the Employees Provident Fund (EPF) and Eco World Development Group, Uda Holdings will restart its work on a 7.9-hectare site for a development known as the Bukit Bintang City Centre.

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

June 23, 2014, Monday
Harvest Court Industries has agreed to acquire a leasehold property comprising of four units of warehouse and two units of Tenaga Nasional station for RM7.5 million. IHH Healthcare’s expansion would consist of both brownfield and greenfield investments. OSK Property Holdings, via its wholly owned subsidiary OSK Properties, aims to launch RM3 billion worth of properties built on a 405 hectare site in Sungai Petani, which is part of the Bandar Puteri Jaya project, within the next 10 to 15 years.

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

June 20, 2014, Friday
Following a revised offer price of RM3.08 per share, up from RM2.973 apiece, Permodalan Nasional has accepted Gamuda’s RM290 million cash offer in exchange for its 20 percent-stake in Kesas Holdings. SP Setia’s subsidiary, Setia Federal Hill (SFH), has satisfied all the conditions set out in a privatisation agreement between the government and SP Setia which will see the latter secure a 21.2 hectare land in Jalan Bangsar. UMW Holdings unveiled a RM2.7 billion capital expenditure (capex) strategy for the year, up 80 percent from 2013’s RM1.5 billion.

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

June 19, 2014, Thursday
Coastal Contracts’ subsidiaries, Coastal Offshore (Labuan) and Thaumas Marine, have secured contracts for the sale of three offshore support vessels (OSV) and three tugboats valued at RM180 million. In a bid to move into the oil and gas (O&G) industry, Dagang Nexchange bought the entire stake in OGPC and OGPC O&G for RM203 million. Eversendai Corporation has clinched new projects worth RM152.1 million in Qatar and India.

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

June 18, 2014, Wednesday
Linpower Resources, a unit of Luster Industries, has entered into an agreement with Venturian Minerals to establish a joint venture committee (JVC). SapuraKencana Petroleum’s subsidiaries have been awarded three new contracts and a contract extension valued at US$700 million (RM2.3 billion). Sime Darby has agreed to sell its entire stakes in three Thai subsidiaries to B.Grimm Power for US$162.9 million (RM522.9 million) in cash.

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

June 17, 2014, Tuesday
Felda Global Ventures expects to see further production shortfalls in the next few months due to adverse weather conditions. Sarawak Cable has proposed to acquire Universal Cable (M’sia) and Leader Cable Industry for an aggregate purchase consideration of RM210 million. Ideal Jacobs (Malaysia) Corporation has agreed to acquire two oil and gas (O&G) companies, Cekap Technical Services and MECIP Global Engineers via a reverse takeover (RTO) at a purchase consideration which is yet to be determined.

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

June 16, 2014, Monday
Gadang Holdings has clinched a RM350 million project from Petroliam Nasional (Petronas) for works on the planned Refinery and Petrochemical Integrated Development (RAPID) – Package 18C, in Johor Bahru, Malaysia. Metal Reclamation (Industries), a subsidiary of Metal Reclamation, has agreed to sell its manufacturing rights and eco technology to Green Lead Industries for RM160 million. Mesiniaga was awarded a RM90 million five-year contract from Telekom Malaysia.

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

June 13, 2014, Friday
Gadang Holdings has clinched a RM350 million project from Petroliam Nasional (Petronas) for works on the planned Refinery and Petrochemical Integrated Development (RAPID) – Package 18C, in Johor Bahru, Malaysia. Metal Reclamation (Industries), a subsidiary of Metal Reclamation, has agreed to sell its manufacturing rights and eco technology to Green Lead Industries for RM160 million. Mesiniaga was awarded a RM90 million five-year contract from Telekom Malaysia.

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

June 12, 2014, Thursday
The country’s industrial production index (IPI) grew 4.2 percent year-on-year in April as a result of stronger external demand for manufactured products. In order to expand its downstream and upstream businesses overseas, MSM Malaysia Holdings is in talks with three to four overseas sugar players for collaborations or merger and acquisition opportunities. Scomi Energy Services’ joint venture, Ophir Production (OP), has bagged a seven-year small field risk service contract from Petroliam Nasional for the development and production of petroleum from the Ophir field, offshore Malaysia.

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

June 11, 2014, Wednesday
Eco World Development Group is on track to hit its RM2 billion turnover target for FY14 and has casts its sights on a RM3 billion top line goal for FY15. Ekovest’s subsidiary Ekovest Properties (EPSB) has entered into a facilitation fund agreement worth RM117 million with the Malaysian government and Bank Pembangunan Malaysia for a grant provided to EPSB’s commercial development known as The Gateway@KL Bund. Top Glove Corporation is expecting its capacity to rise to 45 billion units a year with the addition of two plants, bring the group’s total number of factories to 29.

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

June 10, 2014, Tuesday
Prime Minister Datuk Seri Najib Razak said that the government further liberalised the country’s financial sector by removing barriers faced by foreign-owned fund managers and easing ratings requirements for the corporate bond market. Sime Darby plans to double its market capitalisation to RM100 billion by 2016. Hong Leong Investment Bank Research (HLIB) expects strong earnings growth ahead for Astro Malaysia Holdings given its stronger free cash flow growth and completion of high capital expenditure (capex) phase for B.yond set top box swap out exercise.

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

June 9, 2014, Monday
Leading international independent offshore production and support services provider, Yinson Holdings has announced that its latest floating production storage and offloading vessel (FPSO), PTSC Lam Son, has produced its first oil ahead of its original schedule. Scomi Energy and its Australian partner Octanex are reportedly nearing the award of their first risk service contract (RSC) for the Ophir oilfield. GD Express Carrier is planning to enter the Indonesian market by year-end, marking its pioneer foray outside of Malaysia and Singapore.