Friday, May 20, 2011

FBMKLCI 1544.02 DJ+45.14 CRUDE OIL 99.32 RM 2.9920 

Bursa Malaysia Securities Bhd has dismissed Transmile’s appeal and the beleaguered air cargo transport company will be delisted on Tuesday, May 24. Bursa Securities said on Thursday, May 19 that it decided to dismiss the appeal after considering the facts and circumstances.

CBIP’s unit Modipalm Engineering Sdn Bhd has secured a RM32.28 million contract to build a palm oil mill in Sabah. CBIP secured a contract from Winsome Brantian Palm Oil Mill Sdn Bhd to build the mill with a capacity of 45 tonnes of fresh fruit bunches an hour.

FAVELLE FAVCO BHD [] has secured four contracts totaling RM50.30 million to build tower cranes for four clients. Its contract was to build an offshore crane for Keppel Fels Ltd and Cosco (Nantong) Shipyard Co., Ltd. The other two contracts were with Backam Engineering Corp and Form 700 Pty Ltd to supply a tower crane each.

Malton Bhd’s earnings surged 620% to RM26.28 million from RM3.64 million a year ago, underpinned by higher billings from the property development division. Its revenue increased by 79.4% to RM116.38 million from RM64.89 million while pre-tax profit increased by 512.7% to RM38.6 million from RM6.3 million. Earnings per share were 7.55 sen compared with 1.05 sen.

HUNZA PROPERTIES [] BHD [] reported net profit of RM11.13 million in the third quarter ended March31, 2011, a marginal increase from the RM11.07 million a year ago. Its revenue rose 13.3% to RM66.19 million from RM58.38 million while earnings per share were 5.92 sen compared with 6.94 sen.  It proposed a special interim single-tier dividend of 2.5 sen per share.

Berjaya Corp Bhd (BCorp) has commenced operations at the Sanshui District Bainikeng Sanitary landfill which will solve the waste disposal problems in Sanshui District. Through an open tender and negotiation processes, BCorp said it was awarded The Sanshui District Bainikeng Sanitary landfill build-operate-transfer (BOT) project by the Land, Urban Management & Water Bureau of Sanshui District, formerly known as Construction Bureau of Sanshui District (CBSD) in Foshan City, China. BCorp said it had been granted the rights to build, operate and maintain the landfill for a concession period of 28 years and thereafter transfer the same back to CBSD at no cost.

Jotech Holdings Bhd, a Malaysian precision tool maker, rose the most in two months in Kuala Lumpur trading after first-quarter profit surged fivefold from a year earlier. The stock gained 7.7 per cent to 14 sen at 9:10 a.m. local time, set for its biggest gain since March 16

Thursday, May 19, 2011

FBMKLCI 1541.27 DJ+80.60 CRUDE OIL 99.96 RM 3.009

TSH reported its 1Q2011 earnings surged 105% to RM23.95 million from RM11.26 million a year ago boosted by its Indonesian palm oil operation where fresh fruit bunches (FFB) production grew by 48%. Revenue rose 5.04% to RM252.59 million from RM240.47 million while earnings per share were 5.84 sen compared with 2.75 sen.

Tan Chong Motor Holdings Bhd’s net profit rose 14.5% to RM74.08 million in the first quarter ended March 31, 2011 from RM64.67 million a year ago, boosted by the sale of its Nissan Teana. Revenue increased by 29.8% to a record high of RM1.13 billion from RM870.36 million. Earnings per share were 11.35 sen from 9.91 sen a year ago.

Encorp Bhd swung into the red in the first quarter ended March 31, 2011 with net losses of RM378,000  compared with net profit of RM246,000 a year ago. The losses were despite a 33% increase in revenue to RM63.35 million from RM47.63 million. Loss per share was 0.17 sen compared with earnings per share of 0.12 sen.

DUTCH LADY MILK INDUSTRIES BHD []’s net profit for the first quarter ended March 31, 2011 rose 36.2% to RM28.34 million from RM20.81 million a year earlier, due mainly to higher sales, favourable sales mix and cheaper carry-over stocks. Revenue for the quarter rose to RM196.64 million from RM170.45 million in 2010. Earnings per share were 44.28 sen while net assets per share was RM3.53. It declared a special gross interim dividend of 30 sen per share in respect of the financial year ending Dec 31, 2011 to be paid on July 1.

Hard disk drive manufacturer JCY International Bhd’s net profit for the second quarter ended March 31, 2011 slumped 81% to RM12.46 million from RM65.88 million a year ago. The decline in earnings were due mainly to increase in the cost of production resulting from increase in the cost of raw materials like aluminium and stainless steel and also increase in labour cost. JCY’s revenue for the quarter fell 27.7% to RM397.43 million from RM549.69 million. Earnings per share were 0.61 sen while net assets per share was 43.08 sen.
For the six months ended March 31, JCY’s net profit tumbled to RM19.97 million from RM143.36 million, while revenue fell to RM836.34 million from RM1.08 billion in 2010.

Deleum Bhd which provides a diverse range of supporting specialised products and services for the oil and gas industry, has submitted tenders for contracts worth RM200mil. Group managing director Nan Yusri Nan Rahimy said the value of its current contracts stood at about RM1bil and they would end anywhere from the end of this year until 2016. The new contracts, meanwhile, were scattered between now and the middle of next year, he told reporters after the company's AGM here yesterday.

PJI Holdings Bhd, a Malaysian engineering services group, fell to a two-week low in Kuala Lumpur trading after its third-quarter net loss widened to RM6.15 million from a year earlier.  The stock slid 5.1 per cent to 18.5 sen at 9:41 a.m. local time, set for its lowest close since May 4.

Dutch Lady Milk Industries Bhd, a Malaysian dairy products maker, rose to a five-month high in Kuala Lumpur trading after announcing a 36 per cent jump in quarterly profit and plans for a special interim dividend. The stock climbed 1.1 per cent to RM17.76 at 9:08 a.m. local time, set for its highest close since Dec. 22

Latexx Partners Bhd, a Malaysian rubber-glove maker, rose in Kuala Lumpur trading after receiving an offer to merge with rival YTY Industry Holdings Sdn Bhd in a transaction valued at RM1.37 billion. The stock advanced 1.6 per cent to RM2.55 at 9:11 a.m. local time, extending yesterday’s 4.6 per cent gain. Latexx will buy four units of YTY by paying RM409.5 million in cash and the balance RM955.5 million in new stock at RM2.50 a share, the company said in a statement in Kuala Lumpur late yesterday.  Latexx will deliberate on the offer, which will remain open for 21 days, it said.

Wednesday, May 18, 2011

FBMKLCI 1536.03 DJ-130.33 CRUDE OIL 99.04 RM 2.9460

Oil and gas (O&G) stocks rose yesterday on the local bourse as several O&G service providers are expected to benefit from a multi-billion ringgit downstream project to be announced on Friday by the Government, and the gains in these stocks were also in line with the rise seen on the broader market.

Trading in ACE Market-listed Ecofuture Bhd’s shares will be suspended from May 10 until further notice due to the company’s failure to submit its audited accounts for the financial year ended Dec 31, 2010.

Soon-to-be listed property developer UOA Development Bhd signed a retail underwriting agreement with its underwriters, ahead of its initial public offering (IPO) on the Main Market of Bursa Malaysia next month.
UOA has received approval from the Securities Commission for the proposed listing of its entire enlarged issued and paid-up share capital of up to 1.2 billion 5 sen shares. The IPO consists of an institutional offering of up to of 337 million shares to Malaysian and foreign institutional and selected investors (including bumiputra investors approved by the International Trade and Industry Ministry) and a retail offering of 70 million shares to the Malaysian public, eligible directors and employees of UOA Development, its subsidiaries and persons who have contributed to the success of UOA and its subsidiaries.

Malaysia Building Society Bhd (MBSB) posted net profit of RM68.28 million in the first quarter ended March 31, 2011 compared with RM43.19 million a year ago. Revenue was RM311.63 million compared with RM169.12 million. For the three months ended March 31, 2011, MBSB group achieved a pre-tax profit of RM91.0 million, up 111% from RM43.2 million a year ago.

Petronas Gas Bhd posted a 11.09% increase in revenue to RM891.19mil on the back of a 32.41% increase in net profit to RM266.66mil for the fourth quarter to March 31, 2011. Earnings per share increased to 13.48 sen from 10.18 sen. The better results were due to higher gas transportation revenue and utilities sales, Petronas Gas said in a statement.

Wah Seong Corp Bhd (WSC) has proposed to demerge the oil and gas businesses currently held under its wholly-owned Wasco Energy Ltd (WEL). In a filing to Bursa Malaysia, Wah Seong said that the proposed demerger was to enable WEL and its subsidiaries to operate as a separate and fast-growing public-listed entity. It added that a proposed listing of WEL on the Main Market of Bursa Securities would be sought in conjunction with the proposed demerger. “The proposed demerger will provide a platform for the respective entities to pursue a different and more tailored business strategy for each division. This in return will allow the respective entities to accelerate its growth through explicit management directions and accountability for each individual entity,” Wah Seong explained in its statement.

Petra Perdana Bhd has secured a total of RM73mil worth of new charter contracts for three mid-size anchor-handling tug supply (AHTS) vessels. The company said in a statement that in the first contract, a 12,000 brake horse power (bhp) AHTS was on a six-month charter from May 1 for deployment in Labuan.

MISC posted net loss of RM307.88 million in the fourth quarter ended March 31, 2011 after it made impairment provisions totaling RM456.65 million. The poor financial performance was a sharp contrast from the net profit of RM196.43 million a year ago when the provisions for impairments were sharply lower at RM49.58 million. MISC said its revenue was lower at RM2.924 billion compared with RM3.31 billion a year ago. Loss per share was 6.9 sen compared with earnings per share of 5.10 sen.

Dialog Group’s net profit for the third quarter ended March 31, 2011 rose 20.4% to RM38.34 million from RM31.84 million a year earlier, due mainly to higher contribution from its engineering and CONSTRUCTION [], and plant maintenance activities in Malaysia and Singapore. Revenue rose to RM301.16 million from RM282.77 million. Earnings per share were 1.95 sen while net asset per share was 28.46 sen. Dialog declared a interim single-tier cash dividend  of 1.3 sen per share in respect of the financial year ending June 30, 2011.

Wah Seong’s net profit for the first quarter ended March 31, 2011 surged to RM43.37 million from RM17.02 million a year ago, due to increasing activities recorded in all divisions of the group, especially in the pipeline services division. Its revenue for the quarter increased  by 19.8% to 490.89 million from RM409.62 million. Earnings per share were 5.83 sen while net asset per share was RM1.31.
FBMKLCI 1536.27 DJ-68.79 CRUDE OIL 97.78 RM 2.9720

US blue-chip stocks fell on Tuesday, extending Monday's losses after data showed the housing sector remained deeply depressed in April and Hewlett-Packard painted a dim picture for personal computer sales.  The Dow Jones Industrial Average of 30 blue-chip stocks closed down 68.79 points (0.55 per cent) at 12,479.58.

EON CAPITAL BHD [] has declared a special tax exempt dividend of RM5.16 per share. The dividend will go ex on June 9 while the entitlement date is June 13.

United PLANTATION []s Bhd posted net profit of RM86.09 million in the first quarter ended March 31, 2011, up 76% from RM48.90 million a year ago and it expects the current financial year results to be better, boosted by more replanting. It declared a final dividend of 20% per share or 15 sen net per share and a special dividend of 35% per share or 26.25 sen net per share. The dividends will go ex on June 30.
Investors can expect more upside from United Plantations after its comments that palm oil production in Malaysia and Indonesia was expected to recover in 2011 based on the recovery in the biological yield cycle after a pronounced setback in 2010.

Ideal Jacobs (Malaysia) Corp, a manufacturer of industrial labels and name-plates, surged on its listing debut on the Kuala Lumpur stock exchange. The stock almost tripled to 70 sen at 9:02 a.m. local time in Kuala Lumpur trading. The company sold shares at 27 sen each in its initial public offering, according to its prospectus.

MMC CORPORATION BHD [] plans to list its subsidiaries -- Gas Malaysia Sdn Bhd and Malakoff Bhd -- and also its unit Johor Port. MMC group managing director Datuk Hasni Harun said the first company to be likely listed would be its 51% owned Gas Malaysia. Hasni said Malakoff is worth about RM7 billion currently while Gas Malaysia and Johor Port are worth RM5 billion and RM1.5 billion respectively.

IOI CORPORATION BHD [] reported net profit of RM656.71 million in the third quarter ended March 31, 2011, up 19.6% from the RM549.02 million a year ago, boosted by the better overall performance of the group, especially plantations. Its 3QFY11 pre-tax profit of RM780.86 million was 10% higher than the RM709.27 million a year ago. Revenue rose 37.7% to RM4.34 billion from RM3.15 billion while earnings per share were 10.25 sen versus 8.6 sen. For the nine-months ended March 31, 2011 (9MFY11), it said net profit was RM1.74 billion compared with RM1.52 billion a year ago. Revenue was higher at RM11.83 billion versus RM9.48 billion.

Digistar Corp Bhd’s earnings surged to RM4.57 million in its second quarter ended March 31, 2011 from only RM457,000 a year ago underpinned by better profit margins from its system integration and broadcast engineering projects. Its revenue jumped 91.5% to RM23.57 million from RM12.31 million a year ago while earnings per share were 2.31 sen compared with 0.26 sen.

FABER GROUP BHD []’s subsidiary and the joint venture partner have been unable to secure any of the business in the building maintenance services and clinical waste management in Brunei. Its 70% owned Faber Medi-Serve Sdn Bhd and its joint venture agreement (JVA) with Brufors Technical Services had acknowledged the JVA had lapsed as they had failed to sure any business.

ESSO MALAYSIA BHD []’s earnings surged 154% to RM154.82 million in the first quarter ended March 31, 2011 from RM60.94 million a year ago, boosted by inventory holding gains. Revenue rose 30% to RM2.6 billion from RM2 billion reflecting higher average product prices and increased retail volume. Earnings per share were 57.30 sen compared with 22.60 sen.

AMMB Holdings Bhd, Malaysia’s fifth-biggest lender, said fourth-quarter profit rose to RM316.3 million from RM241.7 million a year earlier