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Reports » Malaysia

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

April 23, 2014, Wednesday
British America Tobacco (BAT), Malaysia’s largest tobacco company, sees its premium brand segment (which accounted for three quarter of the market) gaining market share this year, despite challenges from the illicit cigarette trade. PublicInvest Research is positive on the recent Tanjong Baram RSC project awarded by Petronas, which is worth US$100 million or RM327 million, of which about half is contract to Uzma. UMW Oil & Gas Corporation’s (UMW-OG) Naga 7 jack-up rig could be in for potential early delivery, the construction of which was originally scheduled to be completed in December 2014.

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

April 22, 2014, Tuesday
Together with YPJ Multi Ventures, LBS Bina Group’s 60-percent subsidiary, Koleksi Sigma, has entered into a joint development agreement to develop four plots of land in Johor with an estimated gross development value of RM815 million. Public Bank has reported net profit for the first quarter ended 31 March, of RM1.02 billion, which was approximately 5.3 percent higher than the net profit of RM968.3 million for the same period a year earlier. Affin Holdings is aiming to tap institutional money from Kumpulan Wang Persaraan (KWAP), and the Employees Provident Fund (EPF) via its collaboration with Japanese brokerage Daiwa Securities Group.

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

April 21, 2014, Monday
A restructuring exercise by Talam Transform will see the emergence of new investors and the exit of its current largest shareholder, Kumpulan Europlus. Caring Pharmacy, is targeting up to 120 outlets by 2016. As at April, Caring has 97 pharmacies nationwide. DRB-Hicom Defence Technologies (DefTech), is setting its sights on Cambodia and Myanmar.

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

April 17, 2014, Thursday
Greenland Group signed an agreement with Iskandar Waterfront Holdings (IWH) to buy 14 acres of land for RM600 million with plans to develop projects with a potential gross development value (GDV) of RM2.2 billion. DRB-Hicom’s subsidiary DRB-Hicom Defence Technologies (DHDT) is aiming to deliver 12 8×8 armoured-whelled vehicles (AV8) to the Malaysian military by year-end. RHB Research views that Padini Holdings’ earnings growth was gaining momentum from its aggressive outlet expansion and the group is expected to perform better in 2014 and 2015.

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

April 16, 2014, Wednesday
Bina Puri Holdings said in a filing with Bursa Malaysia that its wholly-owned subsidiary, Bina Puri Construction, had entered into an agreement with Blessed Builders and Pangkalan Ikan Central for the RM247.8 million job to plan, design and build a government fishery complex in Kuching, Sarawak. CIMB Group Holdings expects its Indonesian consumer banking arm, PT Bank CIMB Niaga, to perform better this year and at the least achieve the industry’s average loan growth in Indonesia, which ranges from 14 percent to 18 percent compared with about 8 percent which the bank registered last year. Maybank Investment Bank (Maybank IB) said in a research note that assuming a 10 percent premium on the current share price of Malaysian Airlines System (MAS), Khazanah Nasional would have to fork out RM1.2 billion to privatise it.

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

April 15, 2014, Tuesday
The Employees Provident Fund (EPF) and UEM Group are reported to be planning for a joint bid for Australian state-owned toll road company Queensland Motorways, according to Bloomberg. Eco World Development Group president and chief executive officer Datuk Chang Khim Wah said they will start developing its remaining 404.5 hectares of undeveloped land at the Kota Masai township by September. AmResearch held its FY14 to FY16 earnings forecast for Tenaga Nasional unchanged after the company said it had signed a power purchase agreement with 1MDB Solar.

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

April 14, 2014, Monday
Penang Master Builders and Building Materials Association president Datuk Lim Kai Seng said Penang should see between 5 percent and 10 percent increase in value and volume of construction projects from the private and government sectors this year from RM6.6 billion achieved last year. In a statement on Bursa Malaysia, DRB-Hicom says its wholly-owned subsidiary Edaran Otomobil Nasional had entered into a conditional share sale agreement with Melewar Leisure (ML) and Avis Investment Services for the proposed acquisition of 3.42 million shares of vehicle rental company Sistem Sewa Kereta Malaysia (SSKM) for RM5.5 million. Genting Malaysia is constructing a new cable car system to replace Awana Skyway in Genting Highlands.

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

April 11, 2014, Friday
Smartag Solutions has entered into an agreement with Ningxia Salimy Muslim Commodity Trading to develop China International Halal Online Trade and Traceability Ecosystem by building an online e-commerce and traceability platform that allows companies from all over the world to display halal food and Muslim supplies and trade internationally. Protasco intends to raise close to RM100 million via a private share placement of some 50 million shares at a price of at least RM1.95 per share, reported The Star Online. Mercedes-Benz Malaysia (MBM) reported a 22 percent increase in total sales for 1Q14 to 2,233 vehicles due to strong sales growth of its passenger vehicles.

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

April 10, 2014, Thursday
A total of 685 new rooms will be offered by IGB Corp’s subsidiary, Cititel Hotel Management (CHM), when it opens two new hotels by the end of the year on Penang Island. Approval for the integrated aroma ingredients complex investment in Gebeng, Kuantan between Petronas Chemical Group (Petronas), and BASF Nederland BV (BASF), has been approved by the BASF-Petronas board. A Buy recommendation, with a higher target price of RM5.40, has been reaffirmed on Bonia Corp by AMResearch, following a meeting with Bonia’s management.

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

April 9, 2014, Wednesday
Petroliam Nasional (Petronas) will be splitting its exploration and production division into domestic and international segments to make the business more focused and accountable. After a strong earnings turnaround in FY13, Perdana Petroleum is expecting the positive momentum to continue in 2014, underpinned by improvement in its operating environment as charter and utilisation rates are seen rising. The invocation of Section 114 of the Water Services Industry Act (WASIA) 2006 has caused Maybank IB Research to downgrade Gamuda to “Hold” rating and cut its target price to RM4.45 from RM5.30 previously.

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

April 8, 2014, Tuesday
The initial public offering (IPO) of Boustead Plantations is expected to raise around RM928 million based on the indicative offer price of RM1.60 a share and is slated for a mid-June listing. Sime Darby has disposed of its local power business under Port Dickson Power for RM300 million to Malakoff Corporation. Tune Ins Holdings is negotiating with new potential partners to revive merger and acquisition (M&A) plans in Indonesia as regulatory conditions for foreign insurers are now more investor-friendly.

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

April 7, 2014, Monday
Malaysian exports expanded 12.3 percent year-on-year to RM58.9 billion in February this year on higher sales of electrical and electronic products, liquefied natural gas and palm oil. Alam Maritim Resources is planning to capture a bigger slice of the RM2 billion market for underwater inspection, repair and maintenance (IRM) with the acquisition of a US$80 million (RM262 million) modern diving support ship. Formis Resources proposed to dispose of five subsidiaries involved in IT solutions businesses to Mircolink Solutions for RM50 million.

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

April 4, 2014, Friday
Boustead Heavy Industries Corporation (BHIC) is eyeing the exploration and extraction segment of the oil and gas (O&G) business, which is capital intensive and comes with higher risks. Pharmaniaga is planning to set up a manufacturing plant in Saudi Arabia to produce various types of drugs to cater to the Middle East and North African markets via a 50:50 joint venture with Saudi-based Modern Healthcare Solutions Company. AirAsia and AirAsia X are said to keep their airline operations at the current low-cost carrier terminal (LCCT) in Sepang and have not made the necessary preparations to move into KLIA2, despite the transport ministry saying the LCCT will be shut down by 9 May.

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

April 3, 2014, Thursday
Shares and call warrants of Datasonic Group fell yesterday after Bursa Malaysia Securities issued a trade with caution warning on the electronic-identification specialist. TA Enterprise’s property arm, TA Global, expects earnings from its property development division to be lower in FY15 due to lower demand for higher priced properties and rising cost pressure. In a note, Hong Leong IB Research said CB Industrial Product Holdings’ (CBIP) special purpose vehicle division’s orderbook of RM216 million would translate to another sizeable revenue and earnings recognition in 2014, albeit lower year-on-year.

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

April 2, 2014, Wednesday
Maybank Kim Eng, the investment banking arm of Malayan Banking Group (Maybank), is aiming for higher pre-tax profit contribution of at least 10 percent to the banking group’s total earnings. SapuraKencana Petroleum has won a new contract in Congo as well as three contract extensions in Angola, Brunei and Thailand worth a total of US$454 million (RM1.5 billion). JT International (JTI) rose to a record high of RM7.64 yesterday on the takeover offer by its parent company, JT International Holding BV, which holds a 60.4 percent stake in the group.

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

April 1, 2014, Tuesday
In a statement to Bursa Malaysia, Bumi Armada said it has received a letter of intent from eni Angola for a contract worth US$2.9 billion (RM9.5 billion) for the chartering, operation and maintenance of a floating, production, storage and offloading (FPSO) tanker facility in Angola. AmResearch views that Malaysia Marine & Heavy Engineering Holdings (MMHE) and Technip are believed to be the favourites for the RM3 billion job from Petronas Carigali for the design and construction of a multi-platform project at the Kasawari field located offshore Sarawak. Reports have quoted that Petroliam Nasional (Petronas) has awarded the fifth risk service contract to Uzma and British EnQuest at the Offshore Technology Conference Asia, which ended in Kuala Lumpur on 28 March.

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

March 31, 2014, Monday
Malayan Banking (Maybank) is expected to meet its target of deriving 40 percent of total income and gross profit from overseas operations next year through organic and inorganic growth. Tradewinds Corporation is expecting a net profit of RM2 billion from its Perdana Quay integrated resort development. Despite missing the opportunity to build, own and operate the 2,000 megawatts Track 3B coal-fired power plant, YTL Power International has reaffirmed that it will continue to bid aggressively for future power generation projects, with the upcoming ones rumoured to be Tracks 4A and 4B.

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

March 28, 2014, Friday
Petroliam Nasional (Petronas) is aiming to increase its oil production by 150,000 barrels per day (bpd) by 2020 via the ongoing improved oil recovery (IOR) and enhanced oil recovery (EOR) initiatives, especially on brownfield sites. Telekom Malaysia (TM) entered into an investment agreement with Green Packet and SK Telecom to collaborate on developing a next-generation long-term evolution (LTE) infrastructure to offer customers a full-suite of converged communications services. Kimlun Corporation’s subsidiary, SPC Industries, had been awarded a S$20.5 million (RM51.3 million) contract by Shanghai Tunnel Engineering Company for the supply and delivery of precast concrete segment to contract T206, Thomson Line of Singapore MRT system.

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

March 27, 2014, Thursday
TH Heavy Engineering, the third largest oil and gas facilities fabricator in Malaysia, is upgrading its fabrication yard to achieve a four-fold increase in load-up capacity to 8,000 tonnes by 3Q14. Shares of Telekom Malaysia (TM) and Green Packet have been suspended, pending a material announcement. Gamuda is willing to sell its water assets in Selangor, where it owns a 40 percent stake in Syarikat Pengeluar Air Sungai Selangor (SPASS), if it can fetch “the right price”.

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

March 26, 2014, Wednesday
Over the past four years, Petroliam Nasional (Petronas) has embarked on an aggressive exploration and production strategy and this had helped the group unlock new reserves in Malaysia. Ranhill Energy and Resources is heading for a listing on Bursa Malaysia via a reverse takeover of Symphony House after an attempt to float the company in July 2013, during which there had been a disclosure breach relating to the suspension of licences of its affiliate, Perunding Ranhill Worley by Petronas for an indefinite period. Boustead Holdings has received approval from the Securities Commission for the listing of Boustead Plantations (BP) on the Main Market of Bursa Malaysia.

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

March 25, 2014, Tuesday
Investments at the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, could top US$50 billion by 2020, 150 percent more than the initial target of US$20 billion. For the full financial year ended 31 January, SapuraKencana Petroleum posted a higher than expected net profit of RM1.1 billion on a revenue of RM8.4 billion. Recent loan demand trend is probably slow. While the corporate and non-consumer loan demand trends have been strong in January, these are essentially based on drawdown plans put in place before then end of 2013.

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

March 24, 2014, Monday
The narrowing of crude palm oil (CPO) price discount to its competitors, soybean and rapeseed oils, could hamper the steady increase in the price of the commodity from reaching the targeted RM3,000 per tonne mark this year. Boustead Heavy Industries Corporation’s (BHIC) subsidiary, BHIC AeroServices, has received a letter from the Secretary General to the Ministry of Defence Malaysia, awarding it an in-service support contract. S P Setia’s 1Q14 core net profit of RM68 million, was down 27 percent year-on-year (y-o-y) and 47 percent quarter-on-quarter (q-o-q), and only accounted for 13 percent and 14 percent of our and consensus full-year estimates respectively, once an estimated net of RM29 million from one-off commercial land sales was excluded.

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

March 21, 2014, Friday
SapuraKencana Petroleum signed a RM16.5 billion refinancing club deal involving local, regional and international banks. Top Glove Corporation is planning to slow its production capacity expansion, in order to stem the fall in the average selling price of gloves due to the oversupply in the market. Johor Corporation reported a strong full year results for the year ended 31 December 2013, with pre-tax profit doubling to RM1.4 billion, exceeding the RM1 billion mark for the first time.

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

March 20, 2014, Thursday
The Malaysian Investment Development Authority (MIDA), is seeking to achieve a target of RM8 billion investments for its integrated supply chain management division this year from domestic and foreign companies. Eco World Development Group will be launching EcoSanctuary, a new project in south Klang worth RM8 billion. Maybank IB Research is of a view that Top Glove’s 2Q14 results, scheduled to be released today, could come in below its expectation as well as market’s.

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

March 19, 2014, Wednesday
The International Monetary Fund (IMF) expects the Malaysian economy to continue to grow at a healthy pace in 2014, supported by a long pipeline of investment projects, strong consumption and the gradually tightening financial conditions. Bursa Malaysia Securities is advising investors to exercise caution in the trading of Hong Leong Capital after the recent sharp rise in the price of its shares. Questions were raised about the viability of a RM120 million settlement deal between Amanah Raya Development (ARD) And Malaysia Pacific Corporation (MPC).

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

March 18, 2014, Tuesday
Ahmad Zaki Resources (AZR) is looking to reverse its fortunes from the year before and is expecting RM700 million to RM750 million in revenue this year, driven by its construction division. Its construction business occupies 90 percent of its topline, while the rest of its revenue is derived from oil and gas, property development and plantations divisions. Perisai Petroleum Teknologi (PPT) announced that its 51 percent owned subsidiary, Intan Offshore, had entered into a memorandum of agreement with Lewek Robin Shipping, a unit of Ezra Holdings, to acquire an anchor handling tug supply vessel (AHTS). Glomac announced it is acquiring 25.3 hectares of leasehold land from Pertubuhan Peladang Kawasan Kuala Selangor for RM23 million.

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

March 17, 2014, Monday
Despite incurring an operating loss of RM5.2 million in China during 1Q14, Top Glove Corp intends to maintain its presence in China, given the country’s huge market which is supported by a population of 1.4 billion people. Mah Sing Group targets to launch projects with a gross development value (GDV) of RM4 billion this year in the Klang Valley, Penang, Johor and Sabah. 1 Malaysia Development (1MDB) has secured a tariff rate between a range of RM0.40 and RM0.46 per kilowatt hour with the Malaysia Government.

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

March 14, 2014, Friday
Malaysia’s Industrial Production Index (IPI) grew 3.7 percent in January on a year-on-year basis, below a median market forecast of a 4.1 percent increase based on a Reuters survey. Backed by natural organic growth in larger markets like the United States and European Union, RHB Research Institute expects overall demand for gloves to grow 8 percent to 10 percent per annum over the next few years. Mah Sing Group has agreed to acquire a portion of prime land in Sultan Salahuddin Abdul Aziz Shah Golf Course (SSAASGC), measuring 85.4 acres (approximately 3.7 million square feet), for RM327.5 million, or RM88 per square foot.

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

March 13, 2014, Thursday
In a filing with Bursa Malaysia, Malaysia Pacific Corp (MPC) said it had entered into a settlement agreement with Amanahraya Development (AD) over a material litigation arising from a joint venture agreement dated 20 August 2008, by paying the latter RM120 million. Datuk Tony Tiah Thee Kian, the co-founder and the single largest shareholder of TA Enterprise, has been gradually increasing his equity interest in the firm by accumulating shares in the open market. RHB Research likes Scientex for its fast expanding plastic firm manufacturing segment, reputable brand name in Johor’s property market and committed management team under the founding Lim family, which holds a 60 percent majority stake in the company.

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

March 12, 2014, Wednesday
IHH Healthcare is considering a A$5 billion (RM14.8 billion) bid for Healthscope, the Australian healthcare provider owned by TPG Capital and Carlyle Group LP. Toyota Motor Corporation’s trading arm, Toyota Tsusho Corporation (TTC), has made an offer to buy 51 percent of Kian Joo Can Factory at RM3.74 a share. Sime Darby’s China-based unit Weifang Sime Darby Port Company has teamed up with two Chinese companies to build and maintain the sea channel and port infrastructure in the republic.

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

March 11, 2014, Tuesday
Faced with headwinds, the steel industry seems to be in a gloomy state. However, not all companies in the sector are posting losses with companies such as Malaysia Steel Works bucked industry trends by posting an 18.2 percent increase in net profit to RM28.8 million in FY13 from RM24.3 million previously. In the wake of the incident of flight MH370, Malaysian Airline System’s (MAS) official said that the carrier’s business strategy remains intact unless it becomes necessary to adopt a new one. RHB Research is positive on the prospects of TAS Offshore, driven by its strong order book of RM330 million as at end-February 2014.

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

March 11, 2014, Tuesday
Faced with headwinds, the steel industry seems to be in a gloomy state. However, not all companies in the sector are posting losses with companies such as Malaysia Steel Works bucked industry trends by posting an 18.2 percent increase in net profit to RM28.8 million in FY13 from RM24.3 million previously. In the wake of the incident of flight MH370, Malaysian Airline System’s (MAS) official said that the carrier’s business strategy remains intact unless it becomes necessary to adopt a new one. RHB Research is positive on the prospects of TAS Offshore, driven by its strong order book of RM330 million as at end-February 2014.

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

March 10, 2014, Monday
According to MIDF Research, foreign portfolio investors sold Malaysian shares in the open market (excluding off-market transaction) amounted to RM218.9 million net last week, compared with a net purchase of RM296.2 million in the week before. DiGi Telecommunications plans to invest up to RM900 million in capital expenditure (capex). CIMB Research remained positive on Hovid for its strong earnings growth prospects despite the outage of its blister packaging machine and rising operating costs.

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

March 7, 2014, Friday
Plantation stocks were heavily traded on Bursa Malaysia yesterday, after world palm oil experts expressed their bullish projection that crude palm oil (CPO) prices are set to top RM3,000 per tonne level by 2H14. In a press statement, Petronas says it has signed two contracts to supply CPC Corporation of Taiwan with up to 2.6 million tonnes of liquefied natural gas (LNG) per year for six years. Alliance Research has increased its earnings forecast for Deleum by about 9 percent, in anticipation that the oil and gas support services firm will continue to grow its record high RM3.3 billion order book as it undertakes idle offshore oil and gas asset revival projects.

Malaysia stock market and companies daily report (March 06, 2014)

March 6, 2014, Thursday
Industry observers predict crude palm oil (CPO) prices this year could touch the RM3,000 per tonne level, if not higher, as market watchers tracked effects of the recent dry spell and biodiesel demands. Datuk Seri Mustapa Mohamad, Minister for International Trade and Industry, has confirmed that Proton Holdings, which is a unit of DRB-Hicom, has approached the government for funding aid. Moody’s Investors Service held its “Stable” rating on Sime Darby despite the conglomerate reporting lower EBITDA of RM2.5 billion for 1H14 compared with an EBITDA of RM3.1 billion generated in 1H13.

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

March 5, 2014, Wednesday
Petronas president and chief executive officer Tan Sri Shamsul Azhar Abbas expressed caution on companies expanding their fleet oil and gas assets such as offshore support vessels (OSV) and drilling rigs, warning that the charter rates going forward in the domestic markets would come down. Daya Materials is planning a very large fund raising exercise comprising of a 15 percent private placement, rights with warrants issuance, convertible bonds and senior debt financing worth a cumulative RM950 million, to pay for the purchase of two offshore subsea construction vessels. UMW Oil & Gas Corporation (UMWOG) is expected to be in the spotlight on news that its unit had won an estimated RM148 million support services contract from Petronas Carigali. The contract is for an initial span of two years, with an option of an extension of one year.

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

March 4, 2014, Tuesday
Plantation giant Felda Global Ventures Holdings (FGVH) has confirmed it is evaluating several brownfield plantations, not limited to Asian Plantations (AP), a Singapore-based plantation company listed on the Alternative Investment Market on the London Stock Exchange. Perwaja Holdings subsidiary, Perwaja Steel, will not be able to fulfil its coupon payment obligation of RM9.8 million for its RM280 million nominal value 7 percent convertible unsecured loan stock which is due on 26 March. Kenanga IB Research has initiated coverage on Malaysian Bulk Carriers (MBC).

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

March 3, 2014, Monday
Sealink International, a specialist in the construction of offshore marine support vessels for the oil and gas industry, is building another nine such vessels costing some RM200 million to meet rising demand. Syarikat Takaful Malaysia, which saw its net profit rose by 37 percent in 2013, expects earnings this year to be further boosted by its aggressive cash-back payout policy and higher take up of its products by corporations and multinationals. Kenanga Investment Bank cuts its net profit forecast for hospital operator KPJ Healthcare and reduced the target price for the stock following the latter’s weak financials announcement.

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

February 27, 2014, Thursday
Felda Global Ventures Holdings (FGVH) reported a 129.1 percent increase in profit to RM498.7 million despite a 4.8 percent fall in revenue from continuing operations to RM3.7 billion for the fourth quarter ended 31 December 2013. SapuraKencana Petroleum is eyeing US$7 billion (RM23.1 billion) worth of contracts locally and abroad. Maybank Research noted Time dotCom’s (TDC) solid results where the company’s 2013 net profit was boosted by deferred taxes while core pre-tax profit was in line with its expectations.

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

February 26, 2014, Wednesday
Petroliam Nasional (Petronas) will sell a 25 percent stake in its Canadian shale gas assets to an Indian company as it looks to share the costs of the project. CIMB Group Holdings reported a 4.5 percent increase in its earnings to RM4.5 billion on the back of 8.4 percent jump in interest income to RM14.7 billion for the full year ended 31 December 2013. Iris Corporation has inked a RM793.2 million contract with the Republic of Guinea government in West Africa.