FBMKLCI 1526.33 DJ+52.45 CRUDE OIL112.33 RM 2.9805

Shares of information technology company Tricubes Bhd advanced by 15.5 sen, or 103%, to 31.5 sen yesterday, the highest in more than six years, on news that it will be collaborating with Microsoft to develop the 1Malaysia email project.

The RM1.1bil China-based company that has been approved to list by the Securities Commission (SC) is China Stationery Ltd from Putian, Fujian Province, according to reliable sources. This listing is significantly bigger than the other China companies listed in Malaysia

TNB’s earnings fell 36.9% to RM630.30 million in the second quarter ended Feb 28, 2011 from RM1 billion a year ago as it was impacted by higher coal prices. Forecasting a challenging year ahead, TNB said its revenue was a marginal 1.5% higher at RM7.503 billion from RM7.389 billion a year ago. Its earnings per share were 14.2 sen compared with 23.05 sen while it declared a lower dividend of 4.5 sen per share.

British American Tobacco’s net profit for the first quarter ended March 31, 2011 fell 6.95% to RM178.56 million from RM191.89 million a year earlier, on the back of lower volumes and a decline in profit from operations. Revenue for the quarter declined to RM992.15 million from RM1.02 billion in 2010. Earnings per share was 62.50 sen while net assets per share was RM1.72. BAT declared a first interim dividend of 60 sen per share, tax exempt under the single-tier tax system amounting to RM171.32 million for the financial year ending Dec 31, 2011.

PLUS Expressways Bhd is considering paying out dividends earlier than the norm and may announce this at its upcoming AGM, sources said.

JT International Bhd (JTI) will consider paying a special dividend this year, according to chairman Datuk Seri Mohd Nadzmi Mohd Salleh. “We are looking into various business opportunities. If we do not need the money, we will consider that (paying a special dividend),” he said after the company AGM yesterday.As at Dec 31, 2010 (FY10), JTI has a cash and cash equivalents of RM189.2mil. For the full year, JTI posted a net profit of RM133.8mil on revenue of RM1.2 billion.

After hiving off its core insurance business in Malaysia, cash-rich Jerneh Asia has now set its sights on acquiring. Sabah-based property developer Sagajuta Sabah SB, whose flagship project is the massive 1 Borneo mixed development in Kota Kinabalu. Jerneh Asia announced to Bursa Malaysia yesterday that it had signed a memorandum of understanding (MoU) with Sagajuta’s 60% shareholder, Generasi Cipta SB, to start exclusive discussions for the proposed acquisition. If the talks bear fruit, it will be a backdoor listing of Generasi Cipta, whose main assets include the 1 Borneo project that has a gross development value of RM1.2bn, encompassing a 1.5m sq ft shopping mall, four hotels and four condominium towers.