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Johor Corp will sell a parcel of land it owns in Johor as part payment for the RM3.6bil debt that is due in July 2012, says president and chief executive officer Kamaruzzaman Abu Kassim. He also said the land had a market value of more than RM2bil.

Kencana Petroleum Bhd hopes to start recouping its portion of investment, estimated at US$200mil, in the Berantai marginal oil field development within two years, says chief executive officer Datuk Mokhzani Mahathir. Kencana is part of a consortium, which includes SapuraCrest Petroleum Bhd and Petrofac Energy Developments Sdn Bhd to develop and operate an oil and gas field in Berantai, Terengganu estimated to cost a total of US$800mil.

Khazanah Nasional Bhd said yesterday that all bidders for its 32.21% stake in Pos Malaysia Bhd will be given an equal opportunity and that its divestment will undergo “a fair and transparent process”.The bidders will be considered based on their strategy and business plan, followed by the offer price. The name of the shortlisted bidders will be revealed to the panel after the shortlisting process is completed. These shortlisted bidders will then be invited to submit their revised strategy and business plan as well as their final offer.”

For the nine months ended Dec 31, AMMB’s net profit rose 34% to RM1.03 billion from RM766.87 million, on the back of revenue RM5.3 billion, up from RM4.87 billion a year earlier.

Tasek’s earnings in the fourth  quarter surged 325% to RM69.1 million from RM16.25 million. The much improved group results apart from the RM43.6 million gain from disposal of PLANTATION [] and other

property, was mainly in line with the increase in group's total revenue compounded by better local cement sales margin. Tasek said revenue rose 15% to RM133.67 million from RM116.08 million. Earnings per share were 43.3 sen compared with 8.77 sen. It proposed a bumper dividend, comprising of preference dividend of 6%, ordinary dividend 30% and special dividend 50%.

Mudajaya’s net profit for the fourth quarter ended Dec 31, 2010 rose 39% to RM57.09 million from RM41.05 million a year earlier, driven by the increased level of activities. Revenue rose to RM230.29 million from RM211.76 million a year ago. Earnings per share were 13.96 sen while net assets per share rose to RM1.75 from RM1. Mudajaya proposed a final dividend of 3.0 sen per ordinary share of 20 sen each under the single tier system for FY10. For the 12 months in 2010, Mudajaya’s net profit surged 75% to RM208.45 million from RM119.18 million a year ago, on the back of revenue RM869.43 million.

Hap Seng Consolidated’s net profit for the fourth quarter ended Dec 31, 2010 surged to RM103.13 million from RM7.69 million a year earlier, driven by improvement in revenue in all divisions except for fertilisers trading which was affected by lower average selling prices. Revenue rose 19.3% to RM810.88 million from RM679.6 million. Earnings per share were 18.30 sen while net assets per share was RM4.59. For the financial year ended Dec 31, 2010, Hap Seng’s net profit rose 222% to RM323.16 million from RM100.24 million a year ago. Hap Seng proposed to pay out as final dividend about 50% of its net profit tax and minority interest totalalling RM123.98 million or 22 sen per share.

RAMUNIA HOLDINGS BHD is eyeing some RM300 million worth of fabrication jobs this year as projects up for grabs start pouring into the market again, underpinned by the surge in crude oil prices. Chief executive officer Nor Badli Munawir Mohamad said on Friday that while Ramunia's existing order book was negligible, he expected it to grow this year after Petroliam Nasional Bhd  committed to opening more marginal oilfields and issue more oil and gas contracts this year.