December 19, 2014, Friday
Berjaya Sports Toto recorded a 20.6 percent year-on-year jump in net profit from RM82.6 million to RM99.7 million in the second quarter ended 31 October 2014, as revenue rose 44.7 percent to RM1.3 billion. Tenaga Nasional (TNB) will increase its investment in alternative sources of energy to ameliorate the effects of a fossil fuel shortage going forward. CIMB Research has maintained its ‘Add’ call on Wah Seong Corporation with a target price of RM2.65 and urged investors to accumulate the stock.
December 18, 2014, Thursday
Genting Malaysia has failed to win a casino licence in upstate New York (NY). Sarawak Oil Palms has aborted a RM134.9 million related party deal to acquire a 60 percent stake in DD Pelita Sebungan Plantation and Mutiara Pelita Genaan Plantation from Double Dynasty (DDSB) and Mutiara Hartabumi (MHSB). Scientex reported a 3.1 percent rise in net profit to RM30.3 million for the first quarter ended 31 October 2014.
December 17, 2014, Wednesday
LFE Corporation’s unit, LFE Engineering, has secured a RM350 million contract to build the Shapadu City Village in Putrajaya. Masterskill Education (MEGB) has decided to abort the proposal to dispose of its four campuses in Cheras, Kota Kinabalu, Kuching and Pasir Gudang as their market value is higher than the sale consideration offered by the buyer. mTouche Technology signed a memorandum of understanding with Taiwan Stock Exchange-listed Arbor Technology Corporation to develop Internet of Things (IoT) and smart city solutions in Malaysia.
December 16, 2014, Tuesday
AirAsia’s long-haul affiliate, AirAsia X, has placed a firm order to buy 55 new A330neo aircraft from Airbus for US$15.2 billion (RM53.3 billion), making it the single biggest A330 airline customer for Airbus with a total order for 91 aircraft. Bumi Armada’s tumbling share price and the sudden departure of its chief executive officer on 5 December is fuelling talk that the company could be taken private again. Globaltec Formation shareholders approved the group’s proposed diversification into oil and gas (O&G) exploration and production (E&P) at an extraordinary general meeting on 15 December, paving the way for its first well drilling in March next year.
December 15, 2014, Monday
Facility management services provider, AWC, plans to embark into the telecommunication and healthcare industry, and may consider merger and acquisition (M&A) in the future, besides winning more private sector clients to boost its business. For the third quarter ended 31 October, Talam Transform recorded a net profit of RM3.6 million, compared with a net loss of RM13.1 million in 3Q14, mainly due to higher finance income. Tiong Nam Logistics Holdings sees Vietnam and Myanmar as its new overseas venture to further grow its business, as the group shared that it is still in the midst of finding reliable partners, in its bid to become an Asean player, rather than just a Malaysian player.
December 12, 2014, Friday
For the third quarter ended 30 October, Astro Malaysia Holdings recorded a 5.2 percent gain in revenue to RM1.3 billion on the back of increased subscriptions and other revenue. Felda Global Ventures Holdings (FGV) is set to mark a new foray into China by collaborating with Shenzhen Agricultural Products Co (SZAP) on an agri-business trading company. Hong Leong Investment Bank (HLIB) is concerned about the potential drop in charter rates and lower utilisation rates for UMW Holdings existing seven jack-up rigs and upcoming Naga 8, noting that five of its contracts are expiring in 2015.
December 11, 2014, Thursday
Eco World Development Group has set new sales targets of RM3 billion and RM4 billion for the next two years respectively, including existing phases that have not been launched. Kulim (Malaysia)’s unit, Kulim Energy Nusantara, is proposing to acquire Indonesian oil and gas (O&G) outfit PT Citra Sarana Energi (CSE) for US$133.6 million (RM462.7 million), to strengthen its footprint in Indonesia’s expanding O&G sector. Agrifood giant QL Resources failed in its attempted takeover offer of poultry producer Lay Hong, as it had not received more than 50 percent of acceptances at the closing date of the voluntary offer at 5pm on 10 December.
December 10, 2014, Wednesday
For the second quarter ended 31 October, Berjaya Food’s revenue more than doubled to RM75.3 million, mainly due to the effect of consolidation of a newly acquired subsidiary, Berjaya Starbucks Coffee Company (BStarbucks), as well as higher contributions from its Starbucks operations in Brunei. Kenanga Research said IJM Corporation’s outlook remains bright in the midst of entering a new phase of growth. RHB Research is upbeat on Sunway’s continuous effort in unlocking asset values, after the group announced its proposed disposal of Sunway Hotel Georgetown for RM74 million and Wisma Sunway for RM60 million, to Sunway REIT.
December 9, 2014, Tuesday
For the second quarter ended 30 September, Berjaya Auto recorded an 80.1 percent surge in revenue to RM508.8 million, as net profit more than doubled to RM57.5 million, primarily due to higher sales volume of Mazda vehicles in both Malaysia and the Philippines. MIDF Investment Research believes SapuraKencana Petroleum order book of RM28 billion is robust enough to withstand short-term shocks, as 70 percent of the group’s orders are from domestic oil companies.
December 8, 2014, Monday
CAB Cakaran Corporation is on track to hitting revenues of close to RM1 billion next year, riding on its intention to tap into the Singapore market and its expansion plans for its poultry farms in the country. Property heavyweight IOI Properties Group is making a bold move into the Taiwan real estate as it proposes to buy a stake in iconic skyscraper Taipei 101 for RM2.7 billion at a time when the ringgit is weakening. CIMB Equities Research is positive on Uzma’s acquisition of a 19 percent stake in its associate Setegap Ventures Petroleum for RM28.5 million, which will raise the firm’s equity interest to 49 percent.
December 5, 2014, Friday
The telecommunication industry is forecasted to be healthy and expected to enjoy 4.8 percent overall revenue growth next year, according to AllianceDBS Research. Genting Malaysia expects to complete by 2016 the world’s first Twentieth Century Fox World theme park by 2016 at a cost of about RM1 billion. Yong Tai’s subsidiary, YTB Apple, together with Apple 99 Development, has proposed a joint venture (JV) to construct and develop a mixed development project on an 11,862 square metres plot of land in the district of Melaka Tengah, Melaka, Malaysia.
December 4, 2014, Thursday
Logistics service provider GD Express Carrier is looking for more partners and potential mergers and acquisitions (M&A) to expand regionally, according to group chief executive officer Teong Teck Lean. For the second quarter ended 30 September, Glomac reported a 66.4% decline in net profit to RM13.2 million, in tandem with a 44.6% fall in revenue to RM86.3 million. After announcing that it will accept the RM2.8 billion offer for its stake in New Britain Palm Oil, Kulim (Malaysia) plans to use the RM680 million of proceeds from the disposal to finance its expansion into oil and gas (O&G) activities.
December 3, 2014, Wednesday
AirAsia X plans to fly to Hawaii and Sapporo, Japan, next year in a bid to strengthen its bottom line, says group chief executive officer Tan Sri Tony Fernandes. Hartalega’s two upcoming new generation complex (NGC) production lines will boost volume growth, backed by incoming capacity of about nine billion pieces per annum and the best operating structure in the sector, according to AllianceDBS Research. Hap Seng Consolidated will launch two property projects with a combined gross development value (GDV) of close to RM2 billion in Klang Valley next year.
December 2, 2014, Tuesday
Gamuda is building up its landbank with the recent purchase of 104.1hectares of leasehold land in Kuala Langat, Selangor, for RM392.2 million, by the group’s wholly-owned unit, Setara Hati. For the first quarter ended 30 September, Karex recorded revenue of RM70.1 million and net profit of RM12.8 million. With its Petronas license and marine engineering expertise, Muhibbah Engineering (M) is poised to clinch a sizeable share of the refinery and petrochemical integrated development (RAPID) project subcontract works, according to Alliance Research.
December 1, 2014, Monday
Mah Sing Group is known for its quick turnaround business model, tending to unlock the value of its land-bank quicker with an estimated project timeline of six to eight years, said Credit Suisse Securities Research. Privasia Technology expects its revenue to grow in the coming year after securing RM31.5 million worth of contracts from the Department of Survey and Mapping Malaysia (Jupem) and the Kuantan Port. For the first quarter ended 30 September, Sime Darby posted a 2.4 percent rise in net profit toRM500.7 million, despite a 4.3 percent decline in turnover to RM10.1 billion.
November 28, 2014, Friday
For the first quarter ended 30 September, Bonia Corporation posted a marginal 1.5 percent rise in turnover to RM170.9 million, underpinned by better sales from the Braun Buffel brand and export sales to Vietnam and Indonesia. For the third quarter ended 30 September, Felda Global Ventures Holdings (FGV) recorded its first net loss of RM9.3 million compared to earnings of RM22.9 million in 3Q13, despite a 34.3 percent jump in revenue to RM4.3 billion. MMC Corporation has entered into an agreement to buy a 15.7 percent stake in port operator, NCB Holdings, from MISC for RM222 million, further expanding its ports and logistics businesses.
November 27, 2014, Thursday
Brahim’s Holdings, together with Quantum Angel, has purchased the Burger King franchise from Ekuiti Nasional for RM95 million. Malayan Banking’s (Maybank) net profit fell 7.9 percent to RM1.6 billion in the third quarter ended 30 September, weighed down by its insurance and takaful unit, despite an 8.3 percent lift in gross interest income to RM4.5 billion. Texchem Resources has proposed to sell 1.4 million shares, or a 28 percent stake, in Sushi Kin to Asia Yoshinoya International for RM102.2 million in cash.
November 26, 2014, Wednesday
For the third quarter ended 30 September, BIMB Holdings reported a 7 percent rise in revenue to RM744.5 million while net profit surged 66 percent to RM125.3 million, boosted by its acquisition of 49 percent interest in Bank Islam Malaysia (BIM). Malayan United Industries (MUI) announced that it is in “serious discussions” to explore the possibilities of selling certain substantial assets, to realise the values of these assets.
November 25, 2014, Tuesday
For the third quarter ended 30 September, Affin Holdings recorded a 22.7 percent increase in turnover to RM937.2 million, while net profit slid 17.9 percent to RM142 million, due to lower profit from the group’s banking arm. For the third quarter ended 30 September, Axiata Group’s net profit eased 11.7 percent to RM631 million, in tandem with a 2 percent dip in revenue to RM4.7 billion. CIMB Equities Research states that Westports Holdings’ share price may be driven up in the months ahead by three potential catalysts, the start of the Ocean Three (O3) alliance, the renewal of the investment tax allowance and the government approval to raise port tariffs.
November 24, 2014, Monday
For the third quarter ended 30 September, 7-Eleven Malaysia Holdings posted a 11.7 percent rise in revenue to RM487.3 million, driven by growth in new stores, improved merchandise mix and consumer promotion activity. For the nine-month ended 30 September, Genting recorded a 7.8 percent contraction in bottom line to RM1.2 billion, despite a 7 percent rise in top line to RM13.6 billion and was below expectations of analysts at CIMB Equities Research. Lower oil prices are stoking demand for mergers and acquisitions (M&A) in the oil and gas (O&G) industry and for UMW Oil & Gas Corporation (UMW O&G), opportunities to expand are opening up amid falling prices.
November 21, 2014, Friday
Carimin Petroleum’s wholly-owned subsidiary, Carimin Engineering, has entered into a collaboration agreement (COA) with Bermuda Subsea, to pursue selective opportunities involving hook-up and commissioning (HUC), topside and subsea services. Eco World Development Group has exceeded its sales target of RM2 billion, hitting RM3.2 billion in its financial year ended 30 September (FY14), largely boosted by projects launched under Eco World Development. For the third quarter ended 30 September, RHB Capital recorded a 2.6 percent fall in net profit to RM544.6 million, despite a 10.8 percent rise in total revenue to RM2.7 billion.
November 20, 2014, Thursday
For the third quarter ended 30 September, AirAsia reported a 84.8 percent fall in net profit to Rm5.4 million, despite revenue edging up 2.9 percent to RM1.3 billion. Minetech Resources, whose core business is quarry mining, announced plans to pursue new mining projects, particularly gold mining in Indonesia. For the third quarter ended 30 September, Star Publications (Malaysia) posted a 6.4 percent and 22.1 percent decline in top and bottom lines, to RM247.2 million and RM 34.3 million respectively.
November 19, 2014, Wednesday
For the third quarter ended 30 September, CIMB Group Holdings recorded a 16.1 percent fall in net profit to RM890.3 million largely due to higher loan impairments at PT Bank CIMB Niaga, despite a 1.3 percent increase in net operating income to RM3.5 billion. For the third quarter ended 30 September, Sunway recorded a 6.4 percent rise in revenue to RM1.1 billion, while net profit surged 54.3 percent to RM143.7 million. Telekom Malaysia (TM) has inked a framework agreement with MyTV Broadcasting to provide digital terrestrial television (DTTV) services in Malaysia in the near future.
November 18, 2014, Tuesday
For the three months ended 30 September, Deleum saw a 17.3 percent rise in earnings to RM16.8 million. Business outsourcing company Scicom (MSC) is aiming to penetrate new markets in the region. For the third quarter ended 30 September, Tune Ins Holdings posted a 10.8 percent rise in operating revenue to RM109.5 million.
November 17, 2014, Monday
Dialog Group’s wholly-owned subsidiaries, Dialog LNG and Pengerang LNG (Two), have entered into a shareholders’ agreement with Petronas Gas for the development of liquefied natural gas (LNG) regasification facilities at Pengerang, southern Johor. Globetronics Technology plans to release three-dimensional (3D) sensors in mid-2015 to tap into the market that is projected to be worth about US$3.4 billion (RM11.4 billion) in 2020. CIMB Equities Research notes RM1.30 will form a floor support for Tomypak Holdings’ shares, after the firm’s new major shareholder Yong Kwet On acquired a 25.4 percent stake at that price.
November 14, 2014, Friday
RHB Research remains upbeat on Genting Plantations, on the back of strong fresh fruit bunches (FFB) production. For the third quarter ended 30 September, I-Berhad’s net profit surged more than four-fold to RM14.2 million as revenue expanded 117.8 percent to RM77.4 million, on the back of higher contributions from the group’s property development division. For the third quarter ended 30 September, Maxis posted a 4.9 percent decline in net profit to RM449 million, in tandem with a 7.8 percent fall in revenue to RM2.1 billion.
November 13, 2014, Thursday
AirAsia X, is expected to record a core net loss of RM73 million in 3Q14 compared with a modest RM16 million profit in the same period last year, due to lower yields, a weak market and impact of new routes, according to Maybank Investment Bank. For the third quarter ended 30 September, Gas Malaysia recorded a 16.5 percent increase in net profit to RM53.8 million, due to higher gas sales and the upward revision of natural gas tariff, as revenue expanded 25.8 percent to RM734.4 million.
November 12, 2014, Wednesday
Malaysia’s industrial production index (IPI) grew 5.4 percent year-on-year in September, underpinned by growth in all its indices. Malaysian Resources Corporation (MRC) will construct a RM115 million overhead bridge to connect Jalan Klang Lama with the New Pantai Expressway. Minetech Resources has proposed to acquire Glamour Heights for RM27.5 million, giving it access to two ongoing property development projects in Perak, Malaysia.
November 11, 2014, Tuesday
DRB-Hicom’s unit, KL Airport Services (KLAS), will acquire local cargo air service player Gading Sari Aviation Services, for RM72 million. Malaysia Airports Holdings (MAHB) has proposed a one-for-five rights issue to fund its acquisition of the remaining 40 per cent stake in two Turkish airport ventures. Private equity firm Creador and listed education provider SMRT Holdings have expressed intent to make a buyout offer for Masterskill Education Group (MEGB) at RM0.60 per share, subject to due diligence to be done.
November 10, 2014, Monday
AT Systemization, which is on the lookout for new business under a diversification plan, is eyeing an ideal revenue contribution of 20 percent from new businesses in the financial ending 28 February 2016 (FY16). For the third quarter ended 30 September, MISC’s net profit expanded 17.4 percent to RM470.8 million, on the back of a marginally higher revenue at RM2.2 billion. For the third quarter ended 30 September, Supermax Corporation recorded a 22.3 percent decline in net profit to RM27.9 million due to realised and unrealised forex losses of RM5.9 million.
November 7, 2014, Friday
For the fourth quarter ended 30 September, Fraser & Neave Holdings reported a 22.3 percent fall in net profit to RM62.2 million, despite a 7.5 percent increase in revenue to RM964.5 million. For the third quarter ended 30 September, Media Prima reported a 33.6 percent contraction in net profit to RM42.2 million, as revenue declined 13.6 percent to RM379.6 million. Westports Holdings has earmarked RM1 billion over the next three years from 2015 to 2017, for its container terminal 8 (CT8) expansion plan as it gears up for increasing volume and higher utilisation rate.
November 6, 2014, Thursday
For the third quarter ended 30 September, Boustead Heavy Industries Corporation (BHIC) reported a 34.8 percent contraction in net profit to RM10.4 million, due to share of losses from associates and higher losses reported from the chartering segment. Mitrajaya Holdings’ wholly-owned subsidiary, Pembinaan Mitrajaya, has been awarded a RM401.9 million property job by Sunrise Pioneer, a member of UEM Sunrise Group.
November 5, 2014, Wednesday
Global Oriental expects to record net gain of RM85.2 million from the sale of 15.6 acres of leasehold land in Seri Kembangan, Selangor to Singapore incorporated Qingdao Investment for RM142.4 million. For the third quarter ended 30 September, Petronas Gas recorded a 10.2 percent increase in net profit to RM418.6 million, in line with a 9.8 percent rise in top line to RM1.1 billion.
November 4, 2014, Tuesday
Celcom Axiata, one of the members of Axiata’s group of companies, has entered into a joint venture (JV) with South Korea’s SK Planet to pursue e-commerce opportunities in Malaysia. For the third quarter ended 30 September, Malaysia Building Society (MBSB) reported a 44.9 percent increase in net profit to RM192.4 million, attributable to higher operating income from Islamic banking operations and conventional business as well as lower impairment losses on loans, advances and financing.
November 3, 2014, Monday
IOI Properties Group may emerge as the key beneficiary for the mass rapid transit Sungai Buloh-Serdang-Putrajaya line (MRT2), given that it has 200 hectares of landbank in Putrajaya, that houses IOI Resort City. Management of Perisai Petroleum Teknologi has shared that mobile offshore production unit Rubicone and pipelay barge Enterprise 3 (E3) are unlikely to be put to work this year, given that the monsoon season has started in Southeast Asia.
October 31, 2014, Friday
AirAsia, Asia’s largest low-cost carrier by passenger number, has proposed to set up a Sukuk Mudharabah programme to raise up to RM1 billion. For the third quarter ended 30 September, Press Metal recorded net profit of RM82.7 million, in contrast to net loss of RM1.6 million in 3Q13, with quarterly revenue surging 29.5 percent to RM1 billion. JF Apex Securities has nudged up QL Resources earnings forecast for FY15 by 1.8 percent after imputing the income contribution from marine white prawn aquaculture.
October 30, 2014, Thursday
Gamuda’s and MMC Corporation’s joint venture (JV) has been appointed as the project delivery partner (PDP) for the Mass Rapid Transit (MRT) Line 2 from Sungai Buloh to Serdang and Putrajaya. For the third quarter ended 30 September, IGB Real Estate Investment Trust (IGB REIT) posted an 8.8 percent increase in net property income (NPI) to RM80.1 million, on the back of a 4.2 percent rise in gross revenue to RM112.6 million.
October 29, 2014, Wednesday
For the third quarter ended 30 September, Globetronics Technology’s net profit rose 16.5 percent to RM17.7 million, on the back of improved revenue, which grew 14.3 percent to RM91.1 million. For the third quarter ended 30 September, NCB Holdings reported a net loss of RM2.3 million (3Q13: RM27.3 million net profit), bringing 9M14’s net profit to RM5.3 million, down 90.7 percent and substantially below estimates by the street and Maybank Investment Bank (Maybank IB).
October 28, 2014, Tuesday
With weaker crude oil prices expected to persist, not to mention increasing competition in the fabrication space, AllianceDBS Research has adjusted its valuations on Malaysia Marine and Heavy Engineering Holdings (MMHE). For the third quarter ended 30 September, Nestle (Malaysia) reported a 9.9 percent jump in net profit to RM150.1 million. Tenaga Nasional (TNB) is expected to register a strong finish for its financial year ended 31 August, with its fourth-quarter earnings projected to rise significantly on an annual basis due to lower electricity-generation costs.
October 27, 2014, Monday
Hock Seng Lee (HSL) is eyeing new jobs in the Pan Borneo Highway project, which is expected to be accelerated by big funding under the federal budget 2015. OCK Group, Malaysia’s leading telecommunications network services provider, has received approval from the respective authorities for its proposed transfer from the Ace Market to the Main Market of Bursa Malaysia Securities. UMW Holdings wholly-owned unit, UMW Lubricant International (ULI), aims to grow its lubricant market share to double digits by 2019 up from about 7 percent currently.