FBMKLCI 1524.05 DJ-26.11 CRUDE OIL 111.36 RM 2.9685

Bernas, which is the largest rice miller in Malaysia, has received a 10-year extension from Jan 11, 2011 to Jan 10, 2021 from the federal government. Bernas had received a letter dated April 20 from the Public Private Partnership Unit under the Prime Minister’s Department on the extension of the Bernas agreement dated Jan 12, 1996. It currently controls about 24% of the padi market and 45% of the local rice demand.

CB Industrial Product Bhd’s unit has secured a RM38.35 million contract from the Ministry of Health to supply 100 ambulances inclusive medical equipment to the ministry. Its subsidiary AVP Engineering (M) Sdn Bhd had accepted the letter of award from the Ministry of Health.

Alam Maritim Resources Bhd’s unit has entered into two charter party agreements for a total sum of RM24.75 million.

Berjaya Land Bhd’s units disposed of 22.76 million BERJAYA SPORTS TOTO BHD [] (BToto) shares for RM101.821 million or at an average selling price of RM4.47. It said on Monday, April 25 the shares were disposed of by Immediate Capital Sdn Bhd and Gateway Benefit Sdn Bhd in the open market from May 3, 2010 to April 25, 2011. “The disposals resulted in a net loss of about RM6.07 million at the BLand group level,” it said. The disposed shares represented 1.70% equity interests in BToto.

DRB-HICOM Bhd will be using three of its main businesses involving banking, cargo handling and insurance to generate value from its 32.21% stake in Pos Malaysia Bhd. Those three companies are expected to feature heavily in the execution of the business plan for Pos Malaysia which in turn will also benefit DRB-HICOM as reinvigorating Pos Malaysia would lead to the expansion of the businesses involving Bank Muamalat Malaysia Bhd, KL Airport Services Sdn Bhd (KLAS) and Uni.Asia (life and general insurance businesses). DRB-HICOM won the bid last week to buy the controlling stake in Pos Malaysia at RM3.60 per share or RM622.79mil.

China Construction Bank Corp (CCB), the country's No 2 lender, is eyeing a stake in EON Capital, and has approached the Malaysian Finance Ministry for permission to speak to EON's major shareholders, a source with direct knowledge said. “This is still at a very early stage. We've informed the Malaysian Finance Ministry,” said the source, adding that CCB had not yet received a response. The source declined to be identified because of the sensitivity of the deal.

Software provider Infortech Alliance Bhd has proposed to acquire the entire interest in Jaring Metal Industries Sdn Bhd for RM64.8mil, which will see it gaining new controlling shareholders via the issuance of Infortech shares. Infortech told Bursa Malaysia yesterday that the total purchase would be satisfied by the issuance of 462.86 million new 10 sen shares in Infortech at 14 sen each. Infortech is also proposing a renounceable restricted issue of up to 181.5 million Infortech shares together with up to 108.9 million free detachable warrants on the basis of five shares with three free warrants for every two existing Infortech shares held by the entitled shareholders of Infortech other than the vendors and the parties acting in concert (PACs) with the vendors.

Sime Darby Bhd’s unit, Sime Darby Engineering Sdn Bhd, has been awarded a RM1.15bn contract to fabricate KBB Topsides for the Kebabangan northern hub development project by Kebabangan Petroleum Operating Company Sdn Bhd. The contract will be undertaken over 29 months effective from April 22 this year, Sime Darby said in a filing to Bursa Malaysia yesterday.

KFC Holdings (Malaysia) Bhd's Vice President, KFC Division, Lim Teck Huak said the company invested more than RM1mn in advertising and promotion for the new menu which would be initially available at the 144 outlets. One hundred and forty-four KFC restaurants throughout Malaysia, including Sabah and Sarawak, will see sales increase by 10% after the introduction of its redesigned breakfast menu.

 

WCT Bhd announced a final dividend of 5sen per share which makes the total dividend declared for FYE2010 10sen per share. This final dividend will be paid on 6 June 2011.