FBMKLCI 1501.74 DJ -3.03 CRUDE OIL 88.23 RM 3.104

KNM finally held an analyst briefing after pausing for a few quarters as management believes the company’s operation is finally turning around and the outlook for its process equipment segment is getting brighter. Going forward, it will expand its services business and go into nuclear energy. KNM is still supported by strong orderbook of over RM2.0bn.

AirAsia Bhd, Southeast Asia’s biggest budget carrier, plans to form a Philippine unit by the first quarter of next year. Sepang, Malaysia-based AirAsia may expand into the Philippines as airlines including Cebu Air Inc increase their fleets and services to meet rising demand in the archipelago. The government has set a target to double tourism arrivals in six years to help spur economic growth.

Scomi Marine Bhd has entered into a memorandum of understanding (MoU) to form a framework of cooperation for the provision of maritime academic programmes in Malaysia. 

UEM Land Holdings Bhd said it planned to acquire two parcels of freehold agricultural land in Bangi for RM268.5mil from Inch Kenneth Kajang Rubber Public Ltd Co to develop the land into a comprehensive and integrated township. It told Bursa Malaysia yesterday that its wholly-owned unit UEM Land Bhd wanted to buy the land measuring 463.51 acres at RM13.30 per sq ft.   

Spritzer Bhd is in talks with potential joint venture partners in China and Australia on the possibility of producing bottled mineral or drinking water in these countries and expects to conclude these discussions sometime next year.  

Malaysian banks have extended their streak of sterling double-digit net earnings growth to a fifth straight quarter by posting a 20.1% year-on-year growth in the third quarter (Q3) of this year.