FBMKLCI 1579.84 DJ-54.49 CRUDE OIL 96.30 RM 2.9730

Daya Materials Bhd has secured a RM120 million contract from B Braun Medical Industries Sdn Bhd to build a new six-storey building in Bayan Lepas, Penang. Daya’s unit Daya CMT Sdn Bhd was awarded the contract on June 22 and it involved building a one-storey utility plant rooms, a building for multi-level parking and a two storey multi-purpose building.

Hua Yang’s net profit for the first quarter ended June 30, 2011 surged 133% to RM11.48 million from RM4.91 million a year earlier, due mainly to higher sales achieved. Revenue for the quarter rose 66% to RM61.75 million from RM37.22 million. Earnings per share were 10.63 sen while net assets per share were RM2.15. Hua Yang also proposed a bonus issue of 36 million shares on a one-for-three basis. The company expects the corporate exercise to be completed in the second half of 2011.

Tradewinds Plantation, which had proposed to acquire Mardec Bhd, plans to build an integrated rubber-city in Kota Putra in Kedah, possibly a year from now. Bernama reports its CEO Chan Seng Fatt as saying the integrated rubber city, which is set to provide a free trade rubber area would attract foreign investors to the country.

Dialog Group Bhd’s unit has proposed to acquire a 51% stake in India’s Anewa Engineering Private Ltd for RM7.88 million which would further provides access to new customers in various parts of the world namely in the Middle East and India. It said on Thursday, July 14 Anewa is an outsourcing company that provides engineering design to customers, mainly multinational companies in India, Middle East and Southeast Asia in the oil, gas and petrochemical industry.

Atlan Bhd posted net profit of RM92.35 million in the first quarter ended May 31, 2011 from RM24.21 million a year ago, boosted by sale of several pieces of land. Its revenue was marginally higher at RM177.29 million from RM175.96 million a year ago while earnings per share were 36.60 sen compared with 10.05 sen. The earnings were boosted the sale of six pieces of land measuring 43.95 acres in Penang by its unit Blossom Time Sdn Bhd for  RM104.42 million and a piece of land measuring 17.08 acres in Penang also for RM40.58 million

AirAsia is likely to have a joint venture with Japan's largest carrier - All Nippon Airways (ANA) - to set up a low cost airline likely to be called AirAsia Japan. An announcement on the collaboration is expected to be made next week and it would involve the setting up of a low cost carrier (LCC) and a hub in Japan by AirAsia. The LCC will serve the domestic market and eventually regional markets, sources say.