FBMKLCI 1494.78 DJ -39.51 CRUDE OIL 85.76 RM 3.133

In a twist of events, two rival offers on the table in the proposed takeover of QSR Brands Bhd have been rejected. This follows Kulim (Malaysia) Bhd's announcement yesterday that it had turned down the offer by Carlyle Investment Advisors Ltd to acquire an equity interest in QSR for RM1.94 billion or RM6.70 per share. Kulim has a 57.8% stake in QSR. 

Port operator Integrax Bhd may consider selling its stake in Lumut Maritime Terminal Sdn Bhd (LMT) for a price tag of no less than RM125 million.

  

RHBCap) net profit for 3QFY10 ended Sept 30 rose 5% to RM351.4 million, underpinned by higher net interest income and fee income.  

 

Pos Malaysia’s earnings rose 44.7% to RM31.3 million in the third quarter ended Sept 30, 2010 fromRM21.63 million ago on higher operating profit, revenue, and the tariff increase effective from July 1. Revenue rose 3.5% to RM227.4 million from RM219.7 million. Earnings per share were 5.83 sen compared with four sen. The group 3Q profit from operations was RM38.1 million, higher than the RM18.3 million a year ago.

MUIIND  posted net profit of RM33.04 million in its third quarter ended Sept 30, 2010, compared with RM4.51 million a year ago. There was a reserval of impairment in an associate amounting to RM17.98 million. Revenue was 2.7% lower at RM238.45 compared with RM245.09 million a year ago, Earnings per share were 1.63 sen compared with 0.23 sen.

KLK posted a 27% increase in earnings to RM311.04 million from RM243.73 million a year ago, boosted by its plantationss sector though there was a decline in its manufacturing operations. Revenue increased by 11.9% to RM2.014 billion from RM1.799 billion while earnings per share were 29.21 sen compared with 22.89 sen. It declared dividends of 45 sen per share, an increase from 30 sen a year ago.

Three companies - Petra Energy, Carimin SB and Shapadu Corp SB - are understood to have emerged as the front runners to bag retro-fitting, hook-up and commissioning jobs for oilfields located in Peninsular and East Malaysia from Petroliam Nasional (PETRONAS), industry sources said. According to sources, the contracts are valued at RM1.2bn in total and could be evenly broken down to three parcels of RM400m between Sabah, Sarawak and Peninsular Malaysia. Petra Energy is understood to have almost secured the Sarawak portion, while Carimin is close to bagging the Sabah job. Shapadu, meanwhile, is said to be the front runner to get the retrofitting, hook-up and commissioning jobs for Peninsular Malaysia.

A study on a possible merger between the country's top two national car companies has been completed, International Trade and Industry Minister (Miti) Datuk Seri Mustapa Mohamed said. Miti is setting a date by the year-end to discuss a third-party's research findings on the possible merger between Proton Holdings and Perusahaan Otomobil Kedua SB. The study was carried out by Frost & Sullivan