FBMKLCI 1502.24 DJ- 168.32 CRUDE OIL 100.28 RM 3.083

Guan Chong Bhd is allocating about RM120 million to build its cocoa-grinding plant in Batam, Indonesia. The plant, with an annual capacity of 120,000 tonnes, will more than double the company's grinding capacity to 200,000 tonnes from 80,000 tonnes.

Alam Maritim Resources Bhd has been awarded an extension of contract to provide one accommodation work barge for about RM70.52 million. The contract extension is for 21 months from April 12, 2011 to January 2013, with a further option to extend for an additional year. Alam Maritim said the contract sum of about RM70.52 million included costs of catering, lodging and crane hire.

Mulpha International Bhd, which reported a 10-fold increase in its net profits for its financial year ended Dec 31, 2010 (FY10), will likely be paring down its debts by at least RM300mil this year, according to executive chairman Lee Seng Huang. He says Mulpha will also be continuing with share buybacks. Its latest financial results show that Mulpha has a cash and bank balance of some RM372.6mil. In addition, Mulpha will be receiving RM327mil by end-March from the sale of its Hilton Melbourne Airport Hotel, potentially raising the company's cash levels to around RM700mil or 56% of its total debt levels of RM1.24bil.

Cypark Resources Bhd, whose shares rallied on Tuesday, could see continued trading interest as investors ride on its solid waste management prospects. Cypark, had in its fourth quarter ended Oct 30, 2010 reported net profit of RM5.38 million while for the financial year, its earnings were RM20.42 million. The company had said in December, 2010 that it expected its revenue to increase as the government emphasised on solid waste management under the National Strategic Plan for Waste Management and related regulations/ initiatives.

Proton Holdings Bhd shares have fallen over the past two trading days after reporting losses due to its involvement to restructure Lotus Group International and higher branding costs. Proton adviser and former prime minister Tun Dr Mahathir Mohamad says the national car maker has enough funds to inject into Lotus if necessary.mon Tuesday, Proton had signed a Memorandum of Understanding with Nissan Motor Co. Ltd to pave the way for feasibility studies to be conducted on specific areas of cooperation between the Parties including the potential use of Nissan's platform and powertrain.