FBMKLCI 1562.59 DJ-15.51 CRUDE OIL 98 RM 2.97

New stock listing

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

1.         5210             ARMADA                      3.03                 2.13               15.14

Bumi Armada Bhd which will be listed on the Main Market of Bursa Malaysia on Thursday, July 21. Its institutional price was fixed at RM3.03 per share after it had completed the bookbuilding process. The final retail price was fixed at RM3.03 per share, which was 12 sen below the retail offering of RM3.15.

TNB was likely to report weaker 3QFY11 ended May 31 results tomorrow due to higher coal cost and plant maintenance. The utility giant posted a net profit of RM1.11 billion in the previous corresponding quarter on the back of RM7.72 billion revenue. In 2QFY11 ended Feb 28, TNB recorded a net profit of RM630.3 million. HwangDBS said while weaker 3Q earnings are expected this year, it looks forward to stronger earnings from 4Q onwards as TNB has received an average tariff hike of 7% effective June 1. “We estimate there will be a net profit enhancement of RM600 million per year for TNB from the 7% tariff hike, despite the 28% increase in subsidised gas cost,” said the research house.

DiGi’s earnings fell 15.1% to RM236.31 million from RM278.41 million a year ago on accelerated depreciation of RM323.76 million and also due to premium relating to the up-coming early redemption of its debt notes. Revenue rose 9.7% to RM1.46 billion from RM1.33 billion, earnings per share were 30.4 sen compared with 35.8 sen. It declared a tax exempt interim dividend of 30 sen per share. It said the RM1.5 billion revenue was well above the RM1.3 billion reported a year ago.

YTL Communications Sdn Bhd (YTL Comms) will put together a business plan to secure licences to roll out its 4G mobile Internet-with-voice service, Yes in Sabah and Sarawak. Chief executive officer Wing K. Lee said it had received acknowledgement from the Government for the required licence to start operation in the two states and had been requested to submit its business plan. “It is a multi-step process. We will put together our business plan for the licence. Hopefully we can introduce our service in Sabah and Sarawak,” he told StarBiz.

Shares of diversified company CI Holdings Bhd were suspended yesterday and will remain suspended until tomorrow, on a strong chance that the company will announce the sale of its unit, Permanis Sdn Bhd.

Cypark Resources Bhd has received an approval from the Negri Sembilan state government to lease the closed landfill site in Pajam, Nilai to be developed into an integrated renewable energy (RE) park for a period of 21 years.In a statement yesterday, Cypark said an approval was also given for two other sites in the state.

Cypark recently opened a 26ha RE park in Pajam.

UDA Holdings Bhd is terminating the proposed sale of a piece of land in Jalan Sultan Ismail in the heart of Kuala Lumpur for RM215.50 million to Nadayu, formerly known as MUTIARA GOODYEAR DEVELOPMENT [] Bhd.UDA said it was “unable to obtain the approval of UDA’s shareholder” for the disposal of the 3.56 acres and intends to terminate the sale and purchase agreement with Nadayu.

FBMKLCI 1570.02 DJ+145.13 CRUDE OIL92.69 RM3.0210

MAA Holdings Bhd says it is not urgently seeking to sell its overseas units now that its debt obligations of RM140mil which are due for repayment soon, can be paid off following the sale of its insurance business for RM344mil cash. Instead, the group was now looking to “build up” its insurance businesses in Indonesia and the Philippines, chief executive officer and group managing director Muhamad Umar Swift said after the company’s shareholders’ meeting here yesterday. “Our business in the Philippines is doing well. Indonesia has been slower than expected. We are looking at partnerships that can leverage that particular asset,” he said without elaborating.

Packet One Networks (M) Sdn Bhd (P1), a subsidiary of Green Packet Bhd, has sealed a technology cooperation agreement with China Mobile Ltd to spearhead the time division-long term evolution (TD-LTE) technology in Malaysia and South-East Asia. TD-LTE technology is a 4G telecommunications evolutionary path for the future of mobile broadband.

The coming together of Khazanah Nasional Bhd and Temasek Holdings to develop RM30bil worth of real estate projects in Singapore and Iskandar Malaysia will help UEM Land Holdings Bhd make a great leap forward, both financially and in terms of branding, say analysts. UEM is among the top landowners in Iskandar Malaysia, with 1,300 acres of development land in the southern economic corridor. Among the several economic corridors spearheaded by the Government, Iskandar Malaysia remains the most upbeat and vibrant. In many ways, according to analysts, the alliance of the two government investment holding companies is expected to be a win-win proposition for both sides.

Eastern & Oriental Bhd (E&O) has entered into a shareholders' agreement with Pulau Indah Ventures Sdn Bhd to develop a wellness township Nusajaya. E&O (via wholly-owned subsidiary Galaxy Prestige Sdn Bhd) and Pulau Indah have agreed to establish a 50:50 joint venture (JV) company named Nuri Merdu Sdn Bhd.

Pulau Indah is a 50:50 JV between Khazanah Nasional Bhd and Temasek Holdings. This will be E&O's maiden foray into Johor. The 210-acre freehold land for the proposed development is 15 minutes away from the Tuas Second Link to Singapore, and is owned by Iskandar Investment Bhd, a 60% subsidiary of Khazanah.

Cypark Resources Bhd posted net profit of RM6.22 million in the second quarter ended April 30, 2011 on the back of RM40.98 million in revenue. Earnings per share were 4.0 sen. The second quarter revenue was about RM1.6 million lower than in the first quarter. It said the second quarter revenue was generated mainly from the second phase of the national landfill restoration projects and foundation works for the leachate treatment plans.

Muhibbah said it believes it will not have to write down RM300 million in outstanding payments due from its major client Asia Petroleum Hub (APH), which was reported to be in receivership. Muhibbah managing director Mac Ngan Boon said APH was actively speaking to potential investors and hoped for a resolution "soonest". He added: "We do not believe there will be a write down. We believe there are other solutions.” To recap, APH is the developer and operator of the APH oil terminal in Johor and had awarded Muhibbah the marine piling and jetty works worth RM820 million.

Ingress reported net profit for the first quarter ended April 30, 2011 fell 34% to RM6.94 million from RM10.47 million a year earlier, due to a one time gain on disposal of shares totaling RM7.6 million included in 1Q 2010 net profit. Revenue for the quarter slipped to RM175.07 million from RM180.41 million in 2010. Earnings per share were 9 sen, while net assets per share was RM2.08. It expects its automotive division to further improve during the financial year.

SIG Gases Bhd inked an MoU with Japan-based Iwatani Corporation Bhd (IC) to establish a partnership to set up a helium refilling plant in Southern Industrial Gas plant in Senai, Johor.

IRIS CORPORATION BHD [] expects to raise gross proceeds of RM25.52 million from a proposed private placement exercise of up to 10% of its paid-up share capital. It plans to use RM25.37 million of the proceeds as working capital and the remaining RM150,000 as estimated expenses relating to the proposed private placement. Iris said the RM25.52 million in proceeds would be based on an indicative issue price of 15 sen per placement share.

FBMKLCI 1514.25 DJ-22.71 CRUDE OIL103.66 RM 2.9970

Boustead Holdings Bhd has proposed to pay RM100mil for a controlling stake in MHS Aviation Bhd, which has secured a RM3.1bil contract from Petronas Carigali to provide rotary wing aircraft, equipment and services.

Jaya Tiasa’s net profit rose 191% to RM39.89 million in the third quarter ended Jan 31, 2011 from RM13.67 million a year ago, boosted by higher prices for its timber and palm oil. Revenue rose 13.3% to RM237.64 million from RM209.68 million while earnings per share were 14.94 sen compared with 5.12 sen. Jaya Tiasa said the better results in revenue and pre-tax profit were mainly due to higher profit margin from logs sales with 36% increase in average selling price and 50 % increase in fresh fruit bunch (FFB) sales volume with 61 % improvement in average selling price. It said for the nine months, net profit jumped 425% to RM92.42 million from RM17.59 million while revenue rose 10.6% to RM615.39 million from RM556.38 million.

Silk Holdings Bhd registered a loss after tax and minority interest of RM3.2mil for the second quarter ended Jan 31 compared with profit after-tax and minority interest of RM970,000 recorded in the previous corresponding quarter.

SapuraCrest Petroleum Bhd posted a net profit of RM72.7mil for the fourth quarter ended Jan 31, which was 79.1% higher than RM40.6mil recorded in the same period last year.

BHIC’s associate Boustead Naval Shipyard Sdn Bhd (BNS) has been served with a writ of summons by Meridien Shore Sdn Bhd which is claiming RM49.5 million in losses. Meridien, which is in liquidation, was claiming RM49.57 million as specific damages, interest at 8% per annum, general damages, cost and other relief over the alleged losses suffered after Bank Kerjasama Rakyat Malaysia Bhd foreclosed on several parcels of its land in Johor.

Cypark Resources reported net profit of RM6.55 million in the first quarter ended Jan 31, 2011 on the back of RM42.61 million in revenue and expects to ride on the growing renewable energy business. Earnings per share were five sen When compared to the previous quarter, it said the revenue rose by 17% to RM42.61 million mainly due to the smooth progress of phase two of its projects. However, the 1Q gross profit margin fell 10.7% to 26.1% due to lower margins from engineering works. It said it planned to venture into the renewable energy business. The proposed renewable energy park project in Pajam would harness the potential resources at the landfill. The solar, landfill gas (biogas) and waste (biocell) would enable it to tap into scalable renewable energy which would generate up 10 MW.

FBMKLCI 1492.09 DJ+161.29 CRUDE OIL 103.86 RM 3.036

Boustead Holdings Bhd will see some steady recurring income from Pharmaniaga Bhd now that the latter has entered into a 10-year concession agreement with the Health Ministry to supply medical products to Government-owned hospitals.

Sabah-based downstream timber manufacturer Focus Lumber Bhd’s public issue of 6.9 million new shares under its planned listing exercise on Bursa Malaysia has been fully underwritten by Bank Islam and BIMB Securities.

Adhesive and sealant manufacturer OCI Bhd’s entire issued and paid-up capital would be removed from the official list of Bursa Securities with effect from Monday.

Karambunai Corp Bhd’s wholly-owned subsidiary, Karambunai Resorts Sdn Bhd, has signed a joint venture agreement with China Central Asia Group Co Ltd (CCAG) to develop the RM1bil first phase of the Karambunai Integrated Resort City (KIRC) in Kota Kinabalu.

SP Setia Bhd’s earnings rose 62.41% to RM62.03mil for the quarter ended Jan 31 versus a year earlier, on property development activities in the Klang Valley, Johor Baru and Penang.

Kencana Petroleum Bhd’s net profit for the second quarter ended Jan 31, 2011 grew by 56.69% compared with the corresponding quarter a year ago to RM50.60mil largely due to progress achieved for contracts in hand and better management of relevant costs, as well as contributions from drilling services.

Department store operator Parkson Holdings Bhd has entered into an “exclusivity agreement” with PT Tozy Bintang Sentosa for a period of 90 days for the purpose of developing and expanding in Indonesia.

Faber Group proposed to cancel 75 sen of the existing par value of its RM1 share in a move to reduce its accumulated losses. Based on its paid-up share capital as at Dec 31, 2010 of RM363.0 million, it said the credit arising from the reduction of the par value would be about RM272.3 million.

Cypark plans to invest RM94.29 million to build a 10Mw renewable energy plant with grid connection, at the RE Park in Pajam. The project is expected to generate gross national income (GNI) of RM12.16 million each year for the next 21 years, totaling RM255.36 million.

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 1502.24 DJ- 168.32 CRUDE OIL 100.28 RM 3.083

Guan Chong Bhd is allocating about RM120 million to build its cocoa-grinding plant in Batam, Indonesia. The plant, with an annual capacity of 120,000 tonnes, will more than double the company's grinding capacity to 200,000 tonnes from 80,000 tonnes.

Alam Maritim Resources Bhd has been awarded an extension of contract to provide one accommodation work barge for about RM70.52 million. The contract extension is for 21 months from April 12, 2011 to January 2013, with a further option to extend for an additional year. Alam Maritim said the contract sum of about RM70.52 million included costs of catering, lodging and crane hire.

Mulpha International Bhd, which reported a 10-fold increase in its net profits for its financial year ended Dec 31, 2010 (FY10), will likely be paring down its debts by at least RM300mil this year, according to executive chairman Lee Seng Huang. He says Mulpha will also be continuing with share buybacks. Its latest financial results show that Mulpha has a cash and bank balance of some RM372.6mil. In addition, Mulpha will be receiving RM327mil by end-March from the sale of its Hilton Melbourne Airport Hotel, potentially raising the company's cash levels to around RM700mil or 56% of its total debt levels of RM1.24bil.

Cypark Resources Bhd, whose shares rallied on Tuesday, could see continued trading interest as investors ride on its solid waste management prospects. Cypark, had in its fourth quarter ended Oct 30, 2010 reported net profit of RM5.38 million while for the financial year, its earnings were RM20.42 million. The company had said in December, 2010 that it expected its revenue to increase as the government emphasised on solid waste management under the National Strategic Plan for Waste Management and related regulations/ initiatives.

Proton Holdings Bhd shares have fallen over the past two trading days after reporting losses due to its involvement to restructure Lotus Group International and higher branding costs. Proton adviser and former prime minister Tun Dr Mahathir Mohamad says the national car maker has enough funds to inject into Lotus if necessary.mon Tuesday, Proton had signed a Memorandum of Understanding with Nissan Motor Co. Ltd to pave the way for feasibility studies to be conducted on specific areas of cooperation between the Parties including the potential use of Nissan's platform and powertrain.