FBMKLCI 1519.41 DJ+45.94 CRUDE OIL101.37 RM 2.9570

The ringgit, Asia's best performing currency since last year, is expected to strengthen further on the weakness of the US and its economy. RAM Holdings Bhd group chief economist Dr Yeah Kim Leng said the Government was on the right track in raising the overnight policy rate (OPR), which would increase the likelihood of the ringgit strengthening further. He said the ringgit would strengthen to RM2.90 to the US dollar by year-end because the growth prospects in the United States' economy were still dim. “The dollar will continue to decline as it is still mired in its housing and financial bubble,” Yeah told a media briefing following the rating agency's AGM yesterday.

Airport operator Malaysia Airports Holdings Bhd (MAHB) would likely see passenger volume grow at a slower pace between 7% and 8% this year, after posting a 12.7% growth last year driven by growth in international and domestic passengers. Although MAHB recorded a 12% passenger volumes growth in the first quarter of this year, its passenger movement could soften in the coming quarters as full service carriers feel the effects of higher oil prices, said analysts. “However, MAHB's passenger growth is projected to remain relatively resilient as the airport should also capture the shift in passenger traffic from full service to low cost flights. We nudged down our passenger growth projection to 7% this year (from 8%) after taking into account the potentially adverse impact of higher fares - in view of high oil prices on travel demand,” HwangDBS Vickers Research said in a report mid last month.

three questions about TCUBES being hotly debated about:

Why did Commerce Technology Ventures (CTV), a long time investor in Tricubes, sell 14.5 million shares (which amounted to most of its shareholding in Tricubes) from April 24 to 27, days after details of its involvement in the 1Malaysia email project were revealed?

Was the Performance Management & Delivery Unit (Pemandu) right to spend all that money in two full page advertorials that appeared last week, to defend the 1Malaysia email project, considering that the project is a private sector initiative by Tricubes?

Are Tricubes shares a good buy now, considering that its share price has retreated somewhat over the last few days?

http://biz.thestar.com.my/news/story.asp?file=/2011/5/10/business/8649761&sec=business

Ajiya Bhd will invest RM15mil this year to expand operations at its four metal roll forming and safety glass processing plants in Malaysia. Managing director Chan Wah Kiang said the move would further strengthen its position as the leading player in the metal roll and safety glass processing activities in the region. The plants are located in Senai, Johor; Shah Alam, Selangor; Bukit Minyak in Penang and Sungai Petani in Kedah. Demand would come from several upcoming redevelopment projects in Kuala Lumpur, the Riverside City project in the Klang Valley, the Greater Kuala Lumpur and Iskandar Malaysia, he said.

Berjaya Capital Bhd (BCapital) yesterday entered into a share purchase agreement with Sompo Japan Asia Holdings Pte Ltd (SJAH) for the proposed disposal of its 40% stake in Berjaya Sompo Insurance Bhd (B-Sompo) for RM496mil cash. Berjaya Corp said the consideration of RM496mil or about RM10.51 per B-Sompo sale share represented a price-to-book ratio of about 3.3 times based on the latest audited net asset per B-Sompo share as at April 30, 2010 of RM3.18, a premium of RM7.34 above the audited net tangible asset per B-Sompo share as at April 30, 2010 of RM3.17. It is also a price-earnings multiple of 16.49 times based on the latest audited net earnings per B-Sompo share for the financial year ended April 30, 2010 of 63.7 sen. The proposed disposal is expected to be completed this year.

Dialog Group and its Australian partner Roc Oil are said to be on the verge of bagging the marginal oilfield projects from Petroliam Nasional Bhd (Petronas) for Balai and Bentara fields, located off the coast of Sarawak.

Bertam Alliance’s unit has inked a joint development agreement for a mixed development project of residential and commercial shoplots in Johor with a gross development value (GDV) estimated at no less than RM400 million.

KrisAssets posted net profit of RM35.44 million in the first quarter ended March 31, 2011, which was a 31.2% increase from the RM27.01 million a year ago, mainly due to higher total rental income and lower finance and utility costs in the current quarter. Revenue increased by 7.7% to RM63.46 million from RM58.89 million. Earnings per share were 8.17 sen compared with 8.02 sen.

V.S. Industry Bhd (VSI) unit V.S. Plus Sdn Bhd has been appointed by US-based Keurig Incorporated (Keurig) as an original equipment manufacturer (OEM) partner to produce Keurig’s Single-Cup coffee brewers. V.S. Plus would begin manufacturing Keurig branded single-cup brewers as well as some system-related accessories at a new plant that was acquired in October 2010 for RM12.3 million. Keurig is a unit of NASDAQ-listed Green Mountain Coffee Roasters, Inc., a company involved in specialty coffee and coffeemakers in the US.