FBMKLCI 1517.66 DJ +124.35 CRUDE OIL 104.62 RM 2.999

Malaysia has unveiled investments worth more than RM2bn across nine private projects spanning the energy, agriculture and electronics to healthcare sectors to boost income and create jobs. Among others, the Government announced a RM600m development of seaport and resort in Perak; construction of chemical
plants, facilities for advanced lightning and a renewable energy park; a RM1m integrated oil and gas hub; as well as public private partnership to cultivate fragrant rice. In addition, US giant General Electric is partnering Malaysian telecommunication provider Redtone International to invest in a teleradiology hub while QAV Technologies SB will develop a light emitting diode certification centre. FaberGroup has been roped in to spearhead the development of an energy-saving system.

Cypark Resources Bhd, a solid waste management company is investing RM94.29mil to build a renewable energy park (RE Park) with grid connection on a 26ha remediated landfill in Pajam, Nilai.

Mudajaya has proposed a corporate exercise involving a bonus issue of up to 137.08 million new shares and the setting up of an employees’ share option scheme (ESOS). The bonus issue would on the basis of one bonus share for every three shares held.

KESM net profit for the second quarter ended Jan 31, 2011 rose 27.3% to RM3.31 million from RM2.6 million a year earlier due to higher revenue arising from stronger demand for burn-in and testing services. Revenue for the quarter rose to RM63.66 million from RM55.89 million. Earnings per share was 7.70 sen while net assets per share was RM5.14. For the six months ended Jan 31, KESM’s net profit rose to RM10.34 million from RM5.47 million last year, while revenue increased from RM127.23 million from RM103.14 million.

The share price of Berjaya Food (BFood), which operates the Kenny Rogers Roasters (KRR) chain, fared well on its maiden trading day. The stock opened on a slight premium of 2.5 sen over its offer price of 51 sen and climbed steadily to a day’s high of 64.5 sen. It closed at 63.5 sen, 12.5 sen or nearly 25% higher, against its offer price. Some 35.865m shares were traded, making it the second most active counter on Bursa. BFood is among the best performing IPOs on debut day.

Financially distressed air cargo operator Transmile Group Bhd said yesterday it would continue to engage with lenders to, if possible, finalise a debt restructuring proposal, and to focus on the completion of the proposed disposal of its four MD-11F aircraft. This is expected to significantly pare down its outstanding debt obligations. Its shares had been suspended since last Thursday as it failed to submit a regularisation plan to Bursa Malaysia. As at Dec 31, 2010, Tranmile’s balance sheet showed that it had debts totalling RM531.5mil.

MUHIBBAH Engineering (M) Bhd’s earnings may at least double this year on rising construction orders, according to UOB-Kay Hian Holdings Ltd. The Malaysian builder has secured at least RM480 million of construction orders so far this year, exceeding 2010’s RM458 million worth of jobs clinched, Vincent Khoo, an analyst at UOB-Kay Hian, wrote in a report today.