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.

FBMKLCI 1531.02 DJ+186.79 CRUDE OIL 111.95 RM 2.9890

 

TENAGA NASIONAL BHD could also see trading activity ahead of the release of its financial results for the second quarter ended Feb 28, 2011 after market close. In the first quarter, it posted net profit of RM712.90 million. AmResearch reiterated its Hold call on TNB but with a lower discounted-cashflow derived fair value of RM6.90 a share on lower earnings expectations for FY11 ending Aug 30, 2011. AmResearch had downgraded FY11F earnings by 17% to RM2.4 billion as it raised its coal assumption by US$10 a tonne to US$110 a tonne in the absence of any off-setting tariff rate increase. TNB’s associate Integrax has declared a special interim dividend of 16% less income tax at 25% for the financial year ending Dec 31, 2011. The dividend will go ex on May 6 and the payment date is May 10.

TRC Synergy’s CONSTRUCTION unit Trans Resources Corporation Sdn Bhd has secured a contract to undertake the construction of two types of public housing at Precinct 8 (Phase 1), Putrajaya worth RM43.8 million. TRC said the contract was scheduled to be completed within 20 months. The project involved the construction of 40 units of three-storey semi-detached and four two-and a half-storey semi detached public housing in Putrajaya. Including this contract, TRC has an order book close to RM1.3 billion, which will keep the company busy for the next three years. TRC had also submitted numerous tenders for the SCORE projects worth more than RM1 billion.

DRB-Hicom Bhd clarified it has not received any notification from Khazanah Nasional Bhd that it had won the 32.21% POS MALAYSIA BHD stake.

Nestle (Malaysia) Bhd’s net profit for the first quarter ended March 31, 2011 rose 10% to RM152.69 million from RM138.79 million a year earlier on the back of a double digit growth in revenue driven by both domestic and export sales. Revenue for the quarter rose to RM1.18 billion from RM1.02 billion. Earnings per share were 65.11 sen while net asset per share was RM3.28. Nestle said on Wednesday, April 20 the operating profit stood at RM196 million, an improvement of 11.5% over the same period last year.

FBMKLCI 1521.53 DJ+65.16 CRUDE OIL 108.27 RM 3.0020

KARAMBUNAI CORP BHD and PETALING TIN BHD shares rose in active trade after the government announced the multi-billion ringgit Karambunai Integrated Resort City (KIRC) as a premier world-class ecotourism destination. A consortium consisting of Prism Crystal Enterprises Ltd and Tan Sri Dr Chen Lip Keong & group of companies together with the landowner Karambunai and Petaling Tin will invest RM9.6 billion by 2020 to develop the resort city.

EMAS KIARA INDUSTRIES BHD has declared a special tax exempt interim dividend of 12 sen per 50 sen for the financial year ending Dec 31, 2011. The dividend was equivalent to 24% per share and it would go ex on May 19. In November last year, Emas Kiara announced it was disposing of its business and subsidiaries for RM100 million to Tencate Geosynthetics Asia Sdn Bhd.

BERJAYA CORPORATION BHD’s unit has appointed Ken Whittingham and Atle Crowe-Maxwell of PKF Australia Ltd receivers and managers of its self-service carwash company --  Carlovers Carwash Ltd (CCL) -- based in Australia. BCorp said  it would appoint the two as receivers and manager for CCL’s three units -- Carlovers Carwash (Aust) Pty Ltd, The Carwash Kings Pty Ltd and Carlovers (Maroochydore) Pty Ltd, to preserve its interest as a secured creditor of the CCL Group. BCorp group’s unaudited carrying amount/net book value of the CCL Group as at Jan 31, 2011 is about RM400,000 whilst its original cost of investment in the CCL Group is about RM46.1 million. The amount has been substantially written down and impaired over the years,” it said.

Tricubes Bhd will invest RM50 million in the next 10 years in the 1Malaysia email project.

Steel products player Starshine Holdings Bhd (SHB), which is planning a listing on Bursa Malaysia’s Ace Market by the third quarter of the year, will invest RM32mil in a new plant in Klang and new machinery to broaden its product offering.

Aeon Credit Service (M) Bhd’s net profit for its fourth quarter ended Feb 20, 2011 rose to RM19.40mil from RM14.31mil in the previous corresponding period mainly due to growth in trade receivables on the back of increased financing transaction volume.

CIMB Bank Bhd’s 93.15% subsidiary, CIMB Thai Bank Public Company Ltd and its subsidiaries registered a total operating income of 1.5 billion baht (RM163mil) with the net profit of 282 million baht (RM30.6mil) for its unreviewed operating results for the first quarter ended March 31.

Bursa Malaysia Bhd registered profit after tax and minority interest of RM40.5mil for the first quarter ended March 31, 44% higher than the RM28.1mil in the previous corresponding quarter.

FBMKLCI 1518.64 DJ-140.24 CRUDE OIL 107.78 RM 2.9930

Public Bank Bhd’s net profit rose 21% to RM828 million in the first quarter ended March 31, 2011 from RM685 million a year ago, underpinned by strong growth in net interest and finance income.

Maybank has received the Securities Commission’s approval to undertake a multi-currency medium term notes (MTN) programme totaling US$2 billion.

The MTN programme would enable it to issue senior and/or subordinated notes in currencies other than in ringgit at any time, provided the aggregate amount of outstanding notes does not exceed US$2 billion in nominal value.

Costume jewellery and consumer products manufacturer Zhulian Corp Bhd’s earnings fell 14.2% to RM21.30 million in the first quarter ended Nov 30, 2010 from RM24.84 million a year ago. Revenue was flat at RM86.22 million compared with RM86.33 million a year ago. Earnings per share were 4.78 sen compared with 5.42 sen.

The company reported cash and cash equivalents of RM133.14 million as at Nov 30, 2010.

UNITED MALAYAN LAND BHD []’s unit Seri Alam PROPERTIES [] Sdn Bhd is teaming up with Singapore’s Raffles Campus Pte Ltd to undertake a RM35 million campus in Iskandar Malaysia.

The MoU is to form a joint venture company to build the Raffles International School in Bandar Seri Alam. It will be managed and operated by Raffles as its first campus in Malaysia.

Bursa Malaysia depository Sdn Bhd, a subsidiary of Bursa Malaysia Bhd, is extending its administration fee waive of RM10 for the registration of eDividend until April 18, 2012.

FBMKLCI 1521.94 DJ+56.68 CRUDE OIL 110.22 RM 2.9890

Proton’s unit Lotus Cars Ltd secured £270m million (RM1.33 billion) in loans from six financial institutions over a six-year period to turn around the loss-making company. Proton group managing director Datuk Seri Syed Zainal Abidin Syed Mohamed Tahir said he expected Lotus to break even by 2014.

Press Metal proposed a rights issue to raise between RM316.7 million and RM323.7 million to finance the Samalaju aluminium smelting project in Sarawak. The rights issue involved RM323.73 million nominal value of redeemable convertible secured loan stocks (RCSLS) at 100% of its nominal value with up to 147.15 million warrants.

Johor Menteri Besar Datuk Abdul Ghani Othman has approved the proposed RM1.23 billion intra-city commuter train service in Iskandar Malaysia which would involve a100km rail network.

The project would be undertaken by Metropolitan Commuter Network Sdn Bhd - a joint venture between KUB Malaysia Bhd and Malaysia Steel Works (KL) Bhd.

FAR EAST HOLDINGS BHD [] is recommending a final single tier dividend of 20 sen for the financial year ended Dec 31, 2010.