FBMKLCI 1520.00 DJ+8.25 CRUDE OIL 87.55 RM3.02
Kencana Petroleum Bhd's private placement of 166.7 million shares of 10 sen each via its book-building exercise has been completed. The issue price that has been fixed at RM2.38 each would result in gross proceeds of about RM397.6mil. The issue price represented about 1.65% discount to the closing price of Kencana shares on Jan 25 of RM2.42. It is believed that the shares were oversubscribed by 3.5 times.
Infrastructure builders Muhibbah Engineering (M) Bhd in consortium with Perunding Ranhill Worley Sdn Bhd has been awarded a RM1.07bil contract by Petronas Gas Bhd for works under its LNG regasification project. Muhibbah told Bursa Malaysia yesterday that the consortium received the contract for the engineering, procurement, construction, installation and commissioning alliance for the LNG regasification unit, island berth and subsea pipeline of the LNG regasification project.
The company told Bursa Malaysia yesterday that its unit TL Offshore Sdn Bhd received an award letter dated Jan 19 for the provision of transportation and installation of offshore facilities for PC Myanmar's Yetagun Phase 4 development at the Andaman Sea.
C.I. Holdings Bhd net profit for the second quarter ended Dec 31, 2010 rose 43% to RM11.27mil from a year ago mainly due to further economies of scale and prudent cost management.
Fraser & Neave Holdings Bhd's (F&N) foray into property development paid off well when it recently sold the second phase of Fraser Business Park in Pudu for RM63 million, which netted the group a gain of RM29.6 million.
The Edge FinancialDaily also reports the recent sharp rise in cocoa prices has brought a windfall for GUAN CHONG BHD [], which had earlier stocked up on the soft commodity at substantially lower prices. The company's profit margin has already widened substantially to 6.7 pct for the nine-month period ended Sept 30, 2010, from 1.8 pct in the previous corresponding period.
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