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 1550.89 DJ +75.42 CRUDE OIL 101.87 RM 2.9840

New stock listing

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

1.    0165                XOX                 0.80                             0.50                  4.00

 

 

XOX, the mobile virtual network operator reported net loss of RM1.66 million in the quarter ended March 31 mainly due to the selling and distribution expenses which were necessary in creating brand awareness for XOX’s services.

UOA Development Bhd continued its slide on Bursa Malaysia after making its debut on the stock exchange on Wednesday with the stock falling 2.7% to RM2.53 yesterday. OSK Research put a fair value of RM3.57 per share, which represented a 37.3% upside from its RM2.60 offer price, based on 1x its RNAV (revised net asset value) valuation. “There is nothing wrong. Maybe investors' perception was affected by the low par value against the share's offer price,” he said, adding that the local bourse was also flat over the last few days. Another analyst said perhaps investors did not like that a large portion of UOA Development's ongoing projects were in its 60-acre flagship Bangsar South City in Kampung Kerinchi, Kuala Lumpur.

SP Setia Bhd's net profit for the second quarter ended April 30 surged 80% to RM92.22mil from RM51.21mil a year earlier due to a gain arising from the disposal of an investment property. Revenue for the period increased to RM496.75mil from RM409.07mil a year earlier.

Haisan Resources Bhd said the suspension on the trading of its securities and the delisting of the company had been deferred pending the decision of Bursa Securities on its application for extension of time to submit the regularisation plan to the relevant authorities, it said in a filing with Bursa Malaysia.

Malaysia Marine and Heavy Engineering will replace Malaysia Airlines in the FTSE Bursa Malaysia KLCI following the semi-annual review of the FTSE Bursa Malaysia Index Series yesterday, FTSE Group and Bursa Malaysia Bhd said.

UEM Land Holdings Bhd, the real estate investment and development company of UEM Group, is collaborating with Iskandar Investment Bhd, the main property developer for Iskandar Malaysia, to develop retail and residential units in Nusajaya, Johor with a gross development value of RM850mil.

Favelle Favco received four contracts to supply cranes and spare parts totaling more than RM70.3 million. Three of the orders were to supply cranes and the fourth was to supply the spare parts.

Berjaya Food’s net profit slipped 14.2% to RM2.505 million in the fourth quarter ended April 30, 2011 compared with RM2.92 million a year ago due to higher advertising and promotional expenses. Revenue rose 9% to RM17.75 million from RM16.28 million. Earnings per share were 1.77 sen versus 2.07 sen a year ago. It proposed dividend of three sen a share. For the financial year ended April 30, 2011, its net profit rose 22% to RM10.59 million from RM8.68 million while its revenue increased by 19% to RM71.94 million from RM60.41 million.

FOCUS DYNAMICS TECHNOLOGIES [] Bhd’s new 144.58 million shares issued under the rights issue with warrants and 96.39 million warrants will be listed and quoted on Friday.

FBMKLCI 1508.88 DJ+178.01 CRUDE OIL 103.12 RM 3.0135

Salcon Bhd’s wholly owned subsidiary, Salcon Changzhou (HK) Co Ltd, has entered into a concession agreement and an asset transfer agreement with Changzhou City Tian Ning District Diao Zhuang Street Office and Changzhou Southeast Industrial Wastewater Treatment Plant respectively to acquire, upgrade, operate and maintain the Southeast Industrial Wastewater Treatment Plant (SIWTP)

Civil engineering firm Benalec Holdings Bhd has been awarded a contract worth RM37mil by Glenmarie Cove Development Sdn Bhd to undertake earthworks and other associated work in Klang

Australia and New Zealand Banking Group Ltd (ANZ) may raise its equity interest to controlling stake in four of the Asian banks it has stakes in, including Malaysia's AMMB Holdings Bhd. However, AMMB chairman and major shareholder Tan Sri Azman Hashim said in Tuesday's newspaper report he has no plans to sell his stake. He owns 16.7% while ANZ owns 23.8%.

Harbour-Link’s unit Eastern Soldar Engineering & CONSTRUCTION [] Sdn Bhd has accepted a letter of intent from Chiyoda Sarawak Sdn Bhd for a RM29 million general civil work contract for the Tokuyama Malaysia Project. The contract comprised the general civil works Package SP 4C – general utility area at the Samalaju Industrial Park in Bintulu, Sarawak.

Berjaya Food Bhd, Lembaga Tabung Angkatan Tentera has ceased to be a substantial shareholder after it disposed of 7.97 million shares on March 14. LTAT was allotted 10 million shares or 7.07% when BFood was listed on Feb 14 as the Bumiputra allocation by MITI, according to the company filing.

ATLAN HOLDINGS BHD [] expects to gain RM16 million after the sale of two pieces of land along Jalan Batu Ferringhi, Penang for RM33 million cash to Glass Bay Sdn Bhd. It said the RM16.47 million was arrived at after deducting estimated income tax of RM5.49 million, land cost of RM9.19 million, development cost of RM1.84 million.

Perisai, Singapore’s Mercury Pacific Marine Pte Ltd sold one million shares on March 18 and reduced its stake to 158.26 million shares or 23.18%.

Public Investment Bank Berhad ceased to be substantial shareholder of DPS Resources Bhd after it disposed of 13.17 million shares on March 13.

FBMKLCI 1517.66 DJ +124.35 CRUDE OIL 104.62 RM 2.999

Malaysia has unveiled investments worth more than RM2bn across nine private projects spanning the energy, agriculture and electronics to healthcare sectors to boost income and create jobs. Among others, the Government announced a RM600m development of seaport and resort in Perak; construction of chemical
plants, facilities for advanced lightning and a renewable energy park; a RM1m integrated oil and gas hub; as well as public private partnership to cultivate fragrant rice. In addition, US giant General Electric is partnering Malaysian telecommunication provider Redtone International to invest in a teleradiology hub while QAV Technologies SB will develop a light emitting diode certification centre. FaberGroup has been roped in to spearhead the development of an energy-saving system.

Cypark Resources Bhd, a solid waste management company is investing RM94.29mil to build a renewable energy park (RE Park) with grid connection on a 26ha remediated landfill in Pajam, Nilai.

Mudajaya has proposed a corporate exercise involving a bonus issue of up to 137.08 million new shares and the setting up of an employees’ share option scheme (ESOS). The bonus issue would on the basis of one bonus share for every three shares held.

KESM net profit for the second quarter ended Jan 31, 2011 rose 27.3% to RM3.31 million from RM2.6 million a year earlier due to higher revenue arising from stronger demand for burn-in and testing services. Revenue for the quarter rose to RM63.66 million from RM55.89 million. Earnings per share was 7.70 sen while net assets per share was RM5.14. For the six months ended Jan 31, KESM’s net profit rose to RM10.34 million from RM5.47 million last year, while revenue increased from RM127.23 million from RM103.14 million.

The share price of Berjaya Food (BFood), which operates the Kenny Rogers Roasters (KRR) chain, fared well on its maiden trading day. The stock opened on a slight premium of 2.5 sen over its offer price of 51 sen and climbed steadily to a day’s high of 64.5 sen. It closed at 63.5 sen, 12.5 sen or nearly 25% higher, against its offer price. Some 35.865m shares were traded, making it the second most active counter on Bursa. BFood is among the best performing IPOs on debut day.

Financially distressed air cargo operator Transmile Group Bhd said yesterday it would continue to engage with lenders to, if possible, finalise a debt restructuring proposal, and to focus on the completion of the proposed disposal of its four MD-11F aircraft. This is expected to significantly pare down its outstanding debt obligations. Its shares had been suspended since last Thursday as it failed to submit a regularisation plan to Bursa Malaysia. As at Dec 31, 2010, Tranmile’s balance sheet showed that it had debts totalling RM531.5mil.

MUHIBBAH Engineering (M) Bhd’s earnings may at least double this year on rising construction orders, according to UOB-Kay Hian Holdings Ltd. The Malaysian builder has secured at least RM480 million of construction orders so far this year, exceeding 2010’s RM458 million worth of jobs clinched, Vincent Khoo, an analyst at UOB-Kay Hian, wrote in a report today.

FBMKLCI 1515.74 DJ-79.85 CRUDE OIL 104.99 RM 2.99

New stock listing

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

1.    5196                BJFOOD            0.51                         0.21                 2.55

Local airlines, along with other carriers worldwide, will see higher fuel costs eat into their first-quarter profits, as political unrest in Libya continues to push oil prices to new highs not seen in over two years.

Crude for April delivery was quoted at US$106.45 a barrel in electronic trading on the New York Mercantile Exchange yesterday, with the jet fuel price hitting close to US$130 per barrel.

DRB-HICOM Bhd’s wholly-owned subsidiary DRB-Hicom Defence Technologies Sdn Bhd (Deftech) has received a contract worth RM7.55bil from the Malaysian Government to supply armoured-wheeled vehicles (AWV). DRB-HICOM told Bursa Malaysia yesterday that Deftech had accepted a letter of award from the Government to design, develop, manufacture, commission, supply and deliver 257 units of 12 variants of the 8x8 AWVs . The contract is for a period of seven years beginning 2011.

Trading in the shares of Berjaya Retail Bhd was suspended yesterday pending a material announcement.

The company yesterday requested for a suspension of trading of its securities for three market days, from 9am on Monday until 5pm tomorrow.

Multi Sports Holdings Ltd plans to sponsor a Taiwan depository receipt programme (TDR) that would represent up to 67.50 million new shares of 5 US cents each or 15% of its current paid-up share capital.

The company told Bursa Malaysia yesterday that it would issue up to 67.50 million new shares at an issue price to be determined later, which would be the underlying shares for the programme.

Malaysian Merchant Marine Bhd (MMM) is facing a possible de-listing after failing to submit its regularisation plan to the Securities Commission or Bursa Malaysia Securities for approval within the stipulated timeframe.

Sunway Holdings Bhd’s unit Sunway Construction Sdn Bhd (SunCon) has secured a contract worth RM74.1mil from Bio-XCell Sdn Bhd to undertake the engineering, procurement, construction and commissioning of a central utilities facility at Biotechnological Park Bio-XCell in Nusajaya, Johor.

The Edge FinancialDaily reports that while investors may have turned sceptical towards loss-making WiMAX player Packet One Networks Sdn Bhd (P1) (which is under Green Packet Bhd), its new strategic partner SK Telecom (SKT) believes there is much value in P1's wireless business as a launchpad for SKT's aspiration to expand regionally in Southeast Asia.

SEGI International Bhd (SEGi) group managing director Datuk Clement Hii Chii Kok has emerged as the second largest shareholder of the company after he acquired 30.3 million shares on Monday, raising his stake to 20.61%.

FBMKLCI 1526.43 DJ-3.33 CRUDE OIL 86.44 RM 3.03

THE stock market's main benchmark suffered its second double-digit drop in four trading days, wiping out all of its gains so far this year. The FTSE Bursa Malaysia KLCI fell 16.54 points to 1526.43 points. Yesterday's close was 0.46 per cent lower than the new year's first day close of 1533.42 points. The benchmark index closed at a record of 1574.49 points last Monday. Maybank Investment Bank Bhd's head of retail research Lee Cheng Hooi said the blue chip index could fall to as low as 1525 points. "The market is sluggish, and some funds are getting out a bit," said Lee, adding traditionally buying interest will come back after the Chinese New Year (CNY) holidays. The market will still have to breach the 1576 level to sustain a rise. Lee said the research house has a year end 1710 target.

Ann Joo Resources Bhd has entered into a share sale agreement to acquire a 38% stake in Anshin Steel Processor Sdn Bhd, at a cash consideration of RM2.10 per share worth RM11.970mil.

Berjaya Food Bhd’s admission to the stock exchange has been approved by Bursa Securities in the “trading/services” sector of the Main Market. A filing by AmInvestment Bank Bhd on behalf of Berjaya Corp Bhd’s board said the stock exchange regulator had, vide a letter dated Jan 24, approved the admission of Berjaya Food together with the listing of and quotation for the entire enlarged issued and paid-up share capital of the company of RM70.67mil comprising 141.34 million 50 sen shares.

South Korea’s Honam Petrochemical Corp has invoked Section 222 of the Capital Markets & Services Act, 2007 (CMSA) to compulsorily acquire all the remaining 7,185,762 shares of Titan Chemicals Corp Bhd for which acceptances have not been received. “To this end, a notice pursuant to Section 222(1) of the CMSA in relation to the compulsory acquisition has been sent by Honam to all the holders of the remaining offer shares,” Titan said in a note to Bursa yesterday.

Public Bank Bhd has reported a record net profit of RM846.19mil, or 24.16 sen per share, for its fourth quarter ended Dec 31, 2010.

Perusahaan Otomobil Kedua Sdn Bhd (Perodua), which has been adamant against merging with rival Proton Holdings Bhd, would have let off a sigh of relief after news broke that the Government will not force the two national car companies to merge. Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said yesterday the Government will not force through a merger of both car companies and any solution or proposal needs to be agreed to by both stakeholders. “We cannot force them to make a decision as there is a long spectrum. At one end is loose cooperation and at the other, a merger, which has yet to be decided,”

Oilcorp Bhd, via its 51%-owned indirect subsidiary Oilfab Sdn Bhd, has accepted an offer from Ramunia Holdings Bhd to acquire the Pulau Indah Integrated Fabrication Yard for RM83.8mil.

Major shareholders of port operator Integrax Bhd have called for the removal of the company’s executive director Harun Halim Rasip and director Datuk Onn Hamzah.

MALAYSIAN PACIFIC INDUSTRIES Bhd (MPI) posted marginally lower earnings of RM25.29 million in the second quarter ended Dec 31, 2010 when compared with RM25.71 million a year ago. Its revenue increased 6% to RM367.59 million versus RM345.57 million.  Its earnings per share were 13.05 sen compared with 13.19 sen a year ago. MPI said the pretax profit of RM34.84 million against RM33.06 million a year ago, despite the higher revenue was mainly due to the strengthening ringgit against the US dollar.