FBMKLCI 1562.59 DJ-15.51 CRUDE OIL 98 RM 2.97

New stock listing

No.  Stock  Code    Stock Name     Reference Price      Lower Limit     Upper Limit

1.         5210             ARMADA                      3.03                 2.13               15.14

Bumi Armada Bhd which will be listed on the Main Market of Bursa Malaysia on Thursday, July 21. Its institutional price was fixed at RM3.03 per share after it had completed the bookbuilding process. The final retail price was fixed at RM3.03 per share, which was 12 sen below the retail offering of RM3.15.

TNB was likely to report weaker 3QFY11 ended May 31 results tomorrow due to higher coal cost and plant maintenance. The utility giant posted a net profit of RM1.11 billion in the previous corresponding quarter on the back of RM7.72 billion revenue. In 2QFY11 ended Feb 28, TNB recorded a net profit of RM630.3 million. HwangDBS said while weaker 3Q earnings are expected this year, it looks forward to stronger earnings from 4Q onwards as TNB has received an average tariff hike of 7% effective June 1. “We estimate there will be a net profit enhancement of RM600 million per year for TNB from the 7% tariff hike, despite the 28% increase in subsidised gas cost,” said the research house.

DiGi’s earnings fell 15.1% to RM236.31 million from RM278.41 million a year ago on accelerated depreciation of RM323.76 million and also due to premium relating to the up-coming early redemption of its debt notes. Revenue rose 9.7% to RM1.46 billion from RM1.33 billion, earnings per share were 30.4 sen compared with 35.8 sen. It declared a tax exempt interim dividend of 30 sen per share. It said the RM1.5 billion revenue was well above the RM1.3 billion reported a year ago.

YTL Communications Sdn Bhd (YTL Comms) will put together a business plan to secure licences to roll out its 4G mobile Internet-with-voice service, Yes in Sabah and Sarawak. Chief executive officer Wing K. Lee said it had received acknowledgement from the Government for the required licence to start operation in the two states and had been requested to submit its business plan. “It is a multi-step process. We will put together our business plan for the licence. Hopefully we can introduce our service in Sabah and Sarawak,” he told StarBiz.

Shares of diversified company CI Holdings Bhd were suspended yesterday and will remain suspended until tomorrow, on a strong chance that the company will announce the sale of its unit, Permanis Sdn Bhd.

Cypark Resources Bhd has received an approval from the Negri Sembilan state government to lease the closed landfill site in Pajam, Nilai to be developed into an integrated renewable energy (RE) park for a period of 21 years.In a statement yesterday, Cypark said an approval was also given for two other sites in the state.

Cypark recently opened a 26ha RE park in Pajam.

UDA Holdings Bhd is terminating the proposed sale of a piece of land in Jalan Sultan Ismail in the heart of Kuala Lumpur for RM215.50 million to Nadayu, formerly known as MUTIARA GOODYEAR DEVELOPMENT [] Bhd.UDA said it was “unable to obtain the approval of UDA’s shareholder” for the disposal of the 3.56 acres and intends to terminate the sale and purchase agreement with Nadayu.