FBMKLCI 1536.07 DJ+6.74 CRUDE OIL 86.80 RM 3.003

Multi-Purpose Holdings Bhd (MPHB) is a step closer to the possible relisting of Magnum Corp Bhd on Bursa Malaysia, following a deal that would give it full ownership of the gaming outfit. In an announcement to Bursa Malaysia yesterday, MPHB said it had entered into a memorandum of understanding (MoU) with several parties to acquire the balance 49% stake it did not already own in Magnum Holdings Sdn Bhd, the investment holding firm whose subsidiaries are principally involved in the operation of four-digit numbers forecast betting games.

Green Packet Bhd has signed an agreement with Time Warner Cable, the second largest cable operator in the United States, to provide its next generation connection management solutions. Time Warner Cable would use customised versions of Green Packet's Intouch connection manager, Intouch reporting server and Intouch update server for its Windows and Mac platforms, it said in a statement.

MRCB’s earnings surged 230% to RM41.50 million for the fourth quarter ended Dec 31, 2010 from RM12.41 million a year ago, boosted by improved profit margin and property development projects. Revenue rose 53.7% to RM433.12 million from RM281.67 million. It proposed a dividend of 1.5 sen per share. For the financial year ended Dec 31, 2010, its earnings jumped 94% to RM67.27 million from RM34.62 million. Revenue rose to RM1.967 billion from RM921.62 million. Its cash and cash equivalents rose to RM487.27 million from RM232.57 million.

MTD Capital’s subsidiary MTD Manila Expressways Inc can proceed with the implementation of its 290% toll rate hike along the South Luzon Expressway in the Philippines after a motion seeking to restrain the hike was rejected by the Philippines Supreme Court. Its subsidiary’s legal counsel had on received a resolution dated January 11 from the Court which denied a petition for the issuance of a temporary restraining order (TRO) and/or status quo to restrain the implementation of the toll rate hike of 3.024 pesos or 22 sen per km initial toll rate hike.

Coastal Contracts’ units have secured contracts for the sale of 12 vessels for an aggregate value of RM268 million, increasing its total sales to RM760 million up to 2012.The contracts were for the sale of seven offshore support vessels (OSV), three tugboats and two oil barges for an aggregate value of approximately RM268 million. Including the new contracts, Coastal Group now has about RM760 million worth of vessel sales orders awaiting delivery to customers up to 2012.

Genting Bhd saw RM1.26 billion erased from its market capitalisation on Wednesday, Feb 9, extending its three-day losses on concerns of a decline in VIP customers to Resorts World Sentosa integrated resorts. Genting fell 34 sen to RM10.40, the lowest since Dec 20, with 11.98 million shares done.

Tanco Holdings Bhd said it was unaware of any development that has led to the high daily trading volume of its shares except for an ongoing negotiations with Lehman Brothers Commercial Corp Asia Ltd. On Jan 17, a local daily reported that Tanco had proposed a debt settlement agreement with Lehman.

In a reply to Bursa Malaysia query on the unusual market activity, Tanco said it was unable to disclose the significance of the agreement. “However, should we reach an agreement with Lehman, we will make the appropriate announcement to Bursa.”