FBMKLCI 1503.22 DJ+106.63 CRUDE OIL 87.87 RM 3.115

TM stands to gain RM444.7 million through the proposed sale of some 191.46 million shares it holds in Axiata Group Bhd, representing a 2.27% stake via private placement or in the open market.

Glomac’s 1HFY11 results stripping out the RM4.9m fair value gain on properties, its 1HFY11 turnover and core net profit improved significantly by 99% (+12% q-o-q) and 47% (+40% q-o-q) respectively on the back of higher progress billings from its high unbilled sales. Its latest unbilled sales stood at RM572m (1.8x FY10’s turnover).

IJM Corp and JAKS Resources’ 60:40 joint venture has secured a RM268.5m contract from the Ministry of
Energy, Green Technology and Water for the Pahang-Selangor Raw water transfer project. The project involves the construction of 3m nominal diameter mild steel pipes with a total length about 24km and two access roads of 1.9km and 1.5km long (including 80m long bridge).

EPF will raise up to RM765.5m from a planned sale of a block of RHB Capital shares, which will see its shareholding in the bank drop below the 50% mark. A term sheet detailing the placement exercise obtained by Reuters showed that the indicative pricing of the placement had been set at between RM7.50 and RM7.90 per share.