FBMKLC I1558.17 DJ-198.75 CRUDE OIL 96.90 RM 2.9145

  

Ho Hup Construction Co Bhd has accepted a term loan facility of RM75mil from Insas Credit & Leasing Sdn Bhd to repay its loan from CIMB Bank Bhd. The loan from CIMB, which has been in default for the last three years, was secured on a 24.28-ha land held by its unit, Bukit Jalil Development Sdn Bhd.

Sarawak Consolidated Industries Bhd (SCIB), a concrete products manufacturer, was issued an unusual market activity (UMA) query yesterday by Bursa Malaysia due to the high trading volume of its shares on the Main Market. SCIB shares rose from 30 sen on July 19 to a high of 65 sen yesterday, a 116.7% increase. Total SCIB shares traded yesterday was 5.62 million, up from 30,000 a day earlier. In a response to Bursa Malaysia on the UMA, SCIB said it was not aware of any corporate developments, rumours, reports or possible explanation for the unusual market activity.

Ingress Corp Bhd has submitted tender for several projects including the Ampang line light rail transit (LRT) extension and RM1.5bil worth of jobs from Keretapi Tanah Melayu Bhd (KTMB). Executive vice-chairman cum CEO Datuk Rameli Musa said Ingress had submitted the tender for KTMB works in March and the results would be announced in September.

SP Setia Bhd's subsidiary, Setia (Hangzhou) Development Co Ltd, and Hangzhou Ju Shen Construction Engineering Ltd have terminated their joint-venture (JV) contract for the development of a mixed property project on 25 acres in Zhejiang, China. SP Setia said in a statement to Bursa Malaysia that the conditions precedent set out in the JV contract had not been met as at Wednesday.

 

Favelle Favco Bhd secured four separate contracts worth a combined RM79.3 million to supply offshore cranes, a tower crane and winches. It said on Wednesday, July 27 that its subsidiaries Favelle Favco Cranes (M) Sdn Bhd, Favelle Favco Cranes Pty Ltd, Favelle Favco Cranes Pte Ltd and Favelle Favco Winches Pte Ltd had received the purchase orders or letters of intent from their clients.

FBMKLCI 1561.77 DJ-91.50 CRUDE OIL 99.22 RM 2.9370

New stock listing

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

1.         5204             PRESBHD                      0.90                 0.60             4.50

Prestariang Bhd, which debuts on Bursa Malaysia today has secured an RM80mil contract from the Higher Education Ministry for an industry-based certification scheme. In a filing with Bursa Malaysia yesterday, Prestariang said its wholly-owned subsidiary, Prestariang Systems Sdn Bhd, had secured the contract from the Government to provide professional information, communications and technologies (ICT) training and certification of ICT and ICT-related fields in public higher education institutions in Malaysia.

PeterLabs executive director Dr Teo Kooi Cheng said the company had begun exporting its products now that it had appointed official distributors in Indonesia, Bangladesh, Sri Lanka, the Philippines and Saudi Arabia. “The local market is already mature as our market share for animal feed additives is 19.1%. The focus for us now is overseas expansion,” Teo told reporters after the listing ceremony yesterday. Last year, PeterLabs poster net profit of RM5.9mil on revenue of RM40.7mil. The company expects a 15% to 20% growth this year with 5% of it coming from exports.

Sarawak Cable Bhd has formed a strategic partnership with power and automation technologies company ABB Malaysia Sdn Bhd to submit a tender for Sarawak’s Samajaya substation to be implemented by Sarawak Energy Bhd. The proposed joint venture – Sarawak Cable Bhd-ABB Malaysia Sdn Bhd – was entered into yesterday via a consortium agreement and a supplemental consortium agreement.

Uzma Bhd's subsidiary, Uzma Engineering Sdn Bhd (UESB), has secured a contract worth RM170mil from Petronas Carigali Bhd. In a statement to Bursa Malaysia, Uzma said the contract was for the provision of integrated equipment and services for idle well reactivation project. The contract period will be three years effective from July 25.

TELEKOM MALAYSIA BHD []’s unit has placed out 92.36 million Axiata Group Bhd at RM5.07 a share. The exercise raised gross proceeds of RM468.3 million for TM.

Alam Maritim’s unit has received a letter of award from Petronas Carigali Sdn Bhd to provide one anchor handling tug supply vessel for RM10.6 million. The contract  started on July 13 and the duration is for a primary period of 150 days with two  extension options of 45 days each.

Berjaya Food Bhd is expanding its Kenny Rogers Roasters (KRR) brand into Indonesia after it inked a joint venture (JV) agreement with three Indonesian companies to develop and operate the franchise. It had entered into a conditional JV agreement with PT Mitra Samaya (MS), PT Harapan Swasti Sentosa (HSS) and PT Boga Lestari Sentosa (PT Boga) to operate the franchise in Java island and Bali, Indonesia under PT Boga.

FBMKLCI 1559.60 DJ-88.36 CRUDE OIL 99.10 RM 2.9465

New stock listing

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

1.         0171             PLABS                      0.30                 0.005             1.50
 

KNM Group Bhd and Zecon Bhd has entered into an agreement with Gulf Asian Petroleum (GAP) Sdn Bhd to build a refinery and an oil storage terminal worth a combined RM17 billion in Teluk Ramunia, Johor.

Public Bank Bhd's net profit jumped 20% to RM880.3mil for the second quarter ended June 30, from RM734.1mil a year ago, on the back of improved loans and deposits growth and improved asset quality.

Its revenue for the quarter was 18.3% higher at RM3.17bil from RM2.68bil a year ago. It reported earnings per share of 25.14 sen against 20.96 sen previously. The bank also announced a first interim single-tier dividend of 20%, which will result in total payout of RM700mil.

Daya Materials has bagged two contracts valued at 6.47 million euros or RM27.6mil of supply and delivery agreements with Petronas Methanol (Labuan) Sdn Bhd. The contracts were won via competitive bidding through its wholly-owned subsidiary Daya Secadyme Sdn Bhd. The two agreements are to supply methanol synthesis catalyst and desulphurisation catalyst to Petronas Methanol.

SP SETIA Bhd has proposed to acquire 40 per cent equity interest in KL Eco City Sdn Bhd (KLEC) from Yayasan Gerakbakti Kebangsaan for RM75 million. The acquisition will be through the issuance of 19.37 million new ordinary shares of 75 sen each in SP Setia at an issue price of RM3.87 per share, SP Setia said.

FBMKLCI 1565.06 DJ-43.25 RM 2.948

New stock listing

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

1.         5199             HIBISCS                      0.625                 3.12              0.325

Hibiscus Petroleum – a special purpose acquisition company – will make its debut on Monday. Its public issue of 10 million new shares at 75 sen each made available to the public was oversubscribed 3.8 times.

Petronas Gas Bhd is reported to be planning a RM1.2 billion fund raising exercise to finance its 300MW gas-fired Kimanis power plant in Sabah. This would be undertaken though project financing while the rest would be from equity financing. Petronas Gas is said to be looking at Sukuk bonds or a term loans for the 80% of the funding while the remaining 20% would be financed from equity.

Latexx Partners Bhd, a Malaysian rubber-glove maker, fell to its lowest level in seven weeks after its merger plan with the YTY group of companies collapsed. The stock slid 4.1 per cent to RM2.09 at 9:10 a.m. local time, set for the lowest close since June 2.