FBMKLCI 1522.75 DJ no market CRUDE OIL112.77  RM 2.9738

Khazanah Nasional Bhd has divested its strategic 32.21% stake in Pos Malaysia to DRB-Hicom Bhd at RM3.60 per share or RM622.79 million, deemed a landmark divestment by the government’s investment arm of its entire stake in a major government-linked company. Pos Malaysia said based on the audited results for the financial year ended Dec 31, 2010, its audited consolidated net profit was RM67.11 million and audited consolidated net assets RM828.59 million.

Iris Corp has secured a US$149.96 million(RM451.61 million) contract from the government of Tanzania to supply 25 million identification cards based on the Smartcard TECHNOLOGY []. Iris Corp said the contract was for five years, comprising 36 months for implementation and 24 months for maintenance and support. The scope of work and deliverables were 25 million smart cards which shall be used as the National ID cards of Tanzania

HPI Resources’ net profit for the third quarter ended Feb 28, 2011 soared 121.5% to RM6.94 million from RM3.13 million a year earlier, driven by higher demand. Revenue for the quarter rose by 11.6% to RM105.43 million from RM94.46 million in 2010, while earnings per share was 12.43 sen. HPI said the strong performance was primarily the result of both its paper milling and corrugated packaging divisions demonstrating double-digit expansion in revenues and operating profits.

Ranhill Bhd’s unit Ranhill Power Sdn Bhd has received the Securities Commission’s approval to issue up to RM800 million of debt notes which will have a tenure up to 15 years. The proceeds from the issue will be on-lent to Ranhill to finance in full the redemption of the US$220 million guaranteed notes issued by Ranhill (L) Ltd. The funds would also be to finance the service reserve account requirement, the first guarantee fees payable and the expenses/ costs incurred in relation to the establishment of the Sukuk, and to on-lend to Ranhill to reimburse advances made by Ranhill to Ranhill Engineers and Constructors Sdn Bhd to complete the CONSTRUCTION [] of Senai-Desaru Expressway.