FBM 1527.23 KLCI DJ+115.49 CRUDE OIL112.31 RM 2.9661

CIMB Group Holdings Bhd’s 97.9% (indirectly held) subsidiary, PT Bank CIMB Niaga Tbk (CIMB Niaga), reported a consolidated net profit (unaudited) of 727.53 billion rupiah in the first quarter ended March 3 1, which was 39% higher than the same period last year.

Yeo Hiap Seng (M) Bhd’s net profit for its quarter ended March 31 was up 35.7% to RM7.6mil year-on-year supported by higher sales from Yeo’s core products.

Seacera Tiles Bhd has proposed to dispose of four parcels of freehold land of 59,053 sq m together with a factory to Suong Sdn Bhd for RM62mil and lease back the property.

Kencana secured a RM208 million contract for the fabrication of a substructure for the Kebabangan northern hub development project off the coast of Sabah from Kebabangan Petroleum Operating Company (KPOC). Under the contract, it would build and commission the substructure for the Kebabangan northern hub.

MPI reported an 81% decline in its third quarter earnings to RM5.05 million from RM27.14 million a year ago due to the strengthening of the ringgit against the US dollar and rising commodities prices. Revenue fell 5.3% to RM334.82 million from RM353.68 million while earnings per share were 2.61 sen compared with 13.92 sen. It proposed dividend of 10 sen a share.

Tricubes Bhd is going to make a cash call to fund the controversial myemail project that will require a RM50 million investment over 10 years.

Sealink International Bhd has recommended a final single tier tax exempt dividend of 2.7 sen per share totalling RM13.50 million for the financial year ended Dec 31, 2010. The dividend entitlement date is Sept 12 and payment date Sept 28.