FBMKLCI 1540.94 DJ+8.10 CRUDE OIL100.49 RM3.0155

Several analysts have downgraded Malaysia Airlines (MAS) after the national carrier posted a net loss of RM242.3mil in the first quarter ended March 31 on rising fuel prices and stronger ringgit. According to data compiled by Bloomberg, 12 of the 18 analysts covering the counter gave a “sell” call while five gave a “hold”. Only one analyst has a “buy” call on MAS. Research houses including CIMB Equities Research, AmResearch, Hong Leong Investment Bank and ECM Libra have downgraded the stock to either “sell”, “hold” or “underperform”. MAS posted a net loss of RM242.3mil in the first quarter against a net profit of RM310.04mil in the previous corresponding quarter after taking into account Airbus' compensation for late delivery. Revenue was 3.26% lower at RM3.19bil as fuel cost surged by 32% or RM321mil.

AirAsia Bhd has won three major awards at the Malaysian Investor Relations Association (Mira) Inaugural Malaysia Investor Relations Awards ceremony yesterday. Group chief executive officer Datuk Seri Dr. Tony Fernandes was named the Best CEO for Investor Relation-Mid Cap while the group’s investors relations manager Benyamin Ismail was named the Best Investor Relations Professional-Mid Cap. Datuk Seri Dr. Tony Fernandes AirAsia also won the Best Investors Relation Website award.

KNM Group Bhd said its wholly-owned unit KNM Process Systems Sdn Bhd won a RM217.76mil award for the development of documentation and equipment supply facility “booster compressor station” at the Khauzak site, Uzbekistan from Lukoil Uzbekistan Operating Co. It told Bursa Malaysia yesterday that the contract it won yesterday, was for two years from the date of contract commencement and the project would contribute to the group’s earnings for the financial years ending Dec 31 2011 and 2012.

KNM’s 1QFY11 net profit came in significantly below house and consensus expectations. Profit of RM19.4m made up less than 10% of full year estimates. “The reason for the poor showing is that the group is still going through their older orders, which were low margin orders secured over FY10 (excluding the turnkey projects). Management had earlier guided on softer results in 1H11 hence this comes as no surprise.

“On a positive note, revenue growth indicates increasing utilisation which we gauge should be at roughly 70% from 60%

Genting Bhd’s net profit surged 254% to RM824.17mil in the first quarter ended March 31, 2011 from RM232.43mil a year earlier when it was impacted by net impairment losses. Revenue for the quarter was higher at RM4.89bil against RM3.11bil while earnings per share improved to 22.25 sen versus 6.29 sen previously.

Petronas Chemicals Group Bhd reported net profit of RM932 million in the fourth quarter ended March 31, 2011, an increase of 5.7% from the RM881 million a year ago. Its revenue rose 8.9% to RM4.353 billion from RM3.996 billion while earnings per share were 12 sen. It proposed dividend of 19 sen per share totaling RM1.52 billion. For the financial year ended March 31, its net profit increased by 36.1% to RM2.994 billion from RM2.199 billion. Revenue rose 19.5% to RM14.586 billion from RM12.203 billion supported by higher prices and volume addition.

MRCB posted a 120% increase in its earnings to RM21.60 million in the first quarter ended March 31, from RM9.84 million a year ago, boosted by its on-going property development projects. MRCB was upbeat on its outlook for the next two years where it expected progressive completion of the on-going CONSTRUCTION [] projects and property development within KL Sentral which works had commenced since 2009. “Two major developments planned on strata sales at Kuala Lumpur Sentral comprising Q Sentral office block at Lot B and condominium residences at Lot D with combined gross development value in excess of RM2 billion will commence construction works in 2011,” it said.

DRB-Hicom’s earnings were 72% lower at RM72.39 million from RM259.36 million a year ago due to the absence of exceptional gains of RM211.43 million from the disposal of estates. Its revenue rose 25.1% to RM1.99 billion from RM1.59 billion a year ago. It proposed a final dividend of four sen per share.

MyEG recorded its best-performing quarter in 3Q11, boosted by the public’s growing adoption of e-Government services via its MyEG portal. Its revenue rose 20% on the back of an increased Highway Code test-tasking, increased online, increased online payment of traffic summonses an encouraging growth for online renewal of road tax and automobile insurance.

YTL Corp Bhd posted a lower net profit of RM312.06mil for its third quarter ended March 31, compared with RM330.59mil made a year earlier as the previous year’s pre-tax profit was inclusive of a one-off fee income. For the quarter that just ended, the group made a revenue of RM4.24bil against RM3.93bil from a year ago. For the nine-month period ended March 31, the group posted a net profit of RM755.14mil compared with RM754.33 previously. Revenue for the nine months grew 11.5% to RM13.15bil compared with RM11.79bil for the preceding corresponding nine months ended March 31, 2010.

FBMKLCI 1528.43 DJ-83.93 CRUDE OIL108.62 RM2.9450

New stock listing

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

1.    0168                BOILERM          0.33                          0.03                  1.65

Boilermech designs and manufactures biomass boilers. Its offer price is 33 sen while OSK Research has fair value of 45 sen.

Fitters, whose share price fell after it faced the threat of suspension on May 10, said it had set Friday as the deadline to submit the audited financial statement to avoid suspension.

Ingenuity, which was queried over unusual market activity, will sign an MoU on Thursday, to submit an integrated hospital information system to the Health Ministry. The system is to interlink hospitals and clinics in Malaysia to the ministry

Pos Malaysia holds its shareholders meeting late Thursday morning. There are expectations of strong response from minority shareholders over the acquisition of Khazanah Nasional’s stake in the national postal company by DRB-Hicom.

Seven companies have been shortlisted for the first phase of the US$2.5 billion (RM7.45 billion) infrastructure of Brazil’s Vale International project. Among them are MUHIBBAH ENGINEERING (M) BHD [], Gadang Bhd and Sunway CONSTRUCTION [] Bhd.

Bursa Securities has rejected construction firm Golden Plus Holdings Bhd’s application for an extension of two weeks for the submission of the company’s audited financial statements for the financial year ended Dec 31, 2010.

 

Lion buys stake in S’pore steel firm.
Lion Industries Corp Bhd (LICB) will be acquiring a 50% stake in Angkasa Hong Leong Pte Ltd, from Hong Leong Asia Ltd for S$15.3mil (RM36.6mil) as it looks to expand into the downstream steel operations business.
Property developer Mutiara Goodyear Development Bhd is acquiring 40% stake in Palmington Sdn Bhd, a unit of Tambun Indah Land Bhd, for RM2.34mil cash in a move to jointly develop 527 acres in Seberang Perai.

FBMKLCI 1524.05 DJ-26.11 CRUDE OIL 111.36 RM 2.9685

Bernas, which is the largest rice miller in Malaysia, has received a 10-year extension from Jan 11, 2011 to Jan 10, 2021 from the federal government. Bernas had received a letter dated April 20 from the Public Private Partnership Unit under the Prime Minister’s Department on the extension of the Bernas agreement dated Jan 12, 1996. It currently controls about 24% of the padi market and 45% of the local rice demand.

CB Industrial Product Bhd’s unit has secured a RM38.35 million contract from the Ministry of Health to supply 100 ambulances inclusive medical equipment to the ministry. Its subsidiary AVP Engineering (M) Sdn Bhd had accepted the letter of award from the Ministry of Health.

Alam Maritim Resources Bhd’s unit has entered into two charter party agreements for a total sum of RM24.75 million.

Berjaya Land Bhd’s units disposed of 22.76 million BERJAYA SPORTS TOTO BHD [] (BToto) shares for RM101.821 million or at an average selling price of RM4.47. It said on Monday, April 25 the shares were disposed of by Immediate Capital Sdn Bhd and Gateway Benefit Sdn Bhd in the open market from May 3, 2010 to April 25, 2011. “The disposals resulted in a net loss of about RM6.07 million at the BLand group level,” it said. The disposed shares represented 1.70% equity interests in BToto.

DRB-HICOM Bhd will be using three of its main businesses involving banking, cargo handling and insurance to generate value from its 32.21% stake in Pos Malaysia Bhd. Those three companies are expected to feature heavily in the execution of the business plan for Pos Malaysia which in turn will also benefit DRB-HICOM as reinvigorating Pos Malaysia would lead to the expansion of the businesses involving Bank Muamalat Malaysia Bhd, KL Airport Services Sdn Bhd (KLAS) and Uni.Asia (life and general insurance businesses). DRB-HICOM won the bid last week to buy the controlling stake in Pos Malaysia at RM3.60 per share or RM622.79mil.

China Construction Bank Corp (CCB), the country's No 2 lender, is eyeing a stake in EON Capital, and has approached the Malaysian Finance Ministry for permission to speak to EON's major shareholders, a source with direct knowledge said. “This is still at a very early stage. We've informed the Malaysian Finance Ministry,” said the source, adding that CCB had not yet received a response. The source declined to be identified because of the sensitivity of the deal.

Software provider Infortech Alliance Bhd has proposed to acquire the entire interest in Jaring Metal Industries Sdn Bhd for RM64.8mil, which will see it gaining new controlling shareholders via the issuance of Infortech shares. Infortech told Bursa Malaysia yesterday that the total purchase would be satisfied by the issuance of 462.86 million new 10 sen shares in Infortech at 14 sen each. Infortech is also proposing a renounceable restricted issue of up to 181.5 million Infortech shares together with up to 108.9 million free detachable warrants on the basis of five shares with three free warrants for every two existing Infortech shares held by the entitled shareholders of Infortech other than the vendors and the parties acting in concert (PACs) with the vendors.

Sime Darby Bhd’s unit, Sime Darby Engineering Sdn Bhd, has been awarded a RM1.15bn contract to fabricate KBB Topsides for the Kebabangan northern hub development project by Kebabangan Petroleum Operating Company Sdn Bhd. The contract will be undertaken over 29 months effective from April 22 this year, Sime Darby said in a filing to Bursa Malaysia yesterday.

KFC Holdings (Malaysia) Bhd's Vice President, KFC Division, Lim Teck Huak said the company invested more than RM1mn in advertising and promotion for the new menu which would be initially available at the 144 outlets. One hundred and forty-four KFC restaurants throughout Malaysia, including Sabah and Sarawak, will see sales increase by 10% after the introduction of its redesigned breakfast menu.

 

WCT Bhd announced a final dividend of 5sen per share which makes the total dividend declared for FYE2010 10sen per share. This final dividend will be paid on 6 June 2011.

FBMKLCI 1522.75 DJ no market CRUDE OIL112.77  RM 2.9738

Khazanah Nasional Bhd has divested its strategic 32.21% stake in Pos Malaysia to DRB-Hicom Bhd at RM3.60 per share or RM622.79 million, deemed a landmark divestment by the government’s investment arm of its entire stake in a major government-linked company. Pos Malaysia said based on the audited results for the financial year ended Dec 31, 2010, its audited consolidated net profit was RM67.11 million and audited consolidated net assets RM828.59 million.

Iris Corp has secured a US$149.96 million(RM451.61 million) contract from the government of Tanzania to supply 25 million identification cards based on the Smartcard TECHNOLOGY []. Iris Corp said the contract was for five years, comprising 36 months for implementation and 24 months for maintenance and support. The scope of work and deliverables were 25 million smart cards which shall be used as the National ID cards of Tanzania

HPI Resources’ net profit for the third quarter ended Feb 28, 2011 soared 121.5% to RM6.94 million from RM3.13 million a year earlier, driven by higher demand. Revenue for the quarter rose by 11.6% to RM105.43 million from RM94.46 million in 2010, while earnings per share was 12.43 sen. HPI said the strong performance was primarily the result of both its paper milling and corrugated packaging divisions demonstrating double-digit expansion in revenues and operating profits.

Ranhill Bhd’s unit Ranhill Power Sdn Bhd has received the Securities Commission’s approval to issue up to RM800 million of debt notes which will have a tenure up to 15 years. The proceeds from the issue will be on-lent to Ranhill to finance in full the redemption of the US$220 million guaranteed notes issued by Ranhill (L) Ltd. The funds would also be to finance the service reserve account requirement, the first guarantee fees payable and the expenses/ costs incurred in relation to the establishment of the Sukuk, and to on-lend to Ranhill to reimburse advances made by Ranhill to Ranhill Engineers and Constructors Sdn Bhd to complete the CONSTRUCTION [] of Senai-Desaru Expressway.

FBMKLCI 1535.59 DJ+7.41 CRUDE OIL 108.00 RM 2.9960

MAHB is expecting to see 12% year-on-year growth in passengers for the first three months of the year, compared with the earlier forecast of 7%.

MAMEE-DOUBLE Decker (M) Bhd has been in the limelight recently due to a privatisation proposal by major shareholders in a selective capital reduction (SCR) and repayment exercise under Section 64 of the Companies Act, 1965. This is a privatisation route that has been used successfully by several other companies.

Plantation group KL Kepong Bhd has estimated its capital expenditure for the current financial year ending Sept 30, 2011 at RM600mil. It said the expenditure consisted of new oil palm plantings in Indonesia and supporting infrastructures such as palm oil mills. “Oleochemicals capital expenditure consist of adding new capacities at Westport, Europe and China,” KL Kepong said in its corporate presentation at the Invest Malaysia 2011 conference yesterday. Between financial year 2007 and 2010, about 95% of KL Kepong’s capital expenditure was invested in plantation and oleochemicals. The company also said that it would continue to focus on land acquisition in Indonesia and Malaysia.

Alam Maritim Resources Bhd’s unit has secured RM24.24 million contracts to supply two vessels to an independent oil and gas exploration and production company. Its unit Alam Maritim (M) Sdn Bhd would provide one anchor handling tug supply vessel and one fast multipurpose supply vessel.

MEGB, its group CEO and PT Sejahteraraya Anugrahjaya Tbk (PTSA) are teaming up to look into the setting up of a university in Indonesia. They will form a joint venture company in Indonesia with proposed paid-up capital of US$10 million wherein. MEGB and its CEO will each hold a 30% stake and the remaining 60% by PTSA. PTSA is listed on the Stock Exchange of Indonesia and is the owner of Mayapada Hospital in Indonesia.

DRB-Hicom Bhd’s unit Puspakom Sdn Bhd has signed an MoU with the government to undertake the hire purchase inspection services for all vehicles. DRB-Hicom said the inspection services would be undertaken following the implementation of the newly amended Hire-Purchase Act 1967 (Amended 2010).

MALAYSIAN AIRLINE SYSTEM BHD []’s (MAS) earnings in the first quarter ended March 31, 2011 were impacted by the higher fuel prices, said its managing director and chief executive officer Tengku Datuk Azmil Zahruddin said. He said the high fuel price is “definitely making a negative impact on us”. Tengku Azmil said about 25% of the airline’s jet fuel for 2011 was hedged at US$90 per barrel but the price was now about US$140. On April 1, it was US$136.40.

Khazanah Nasional Bhd, the government's investment arm, has decided on the potential buyer for its 32.21 per cent stake in postal service provider, POS MALAYSIA BHD. "We already have a winner in mind," said Khazanah managing director Tan Sri Azman Mokhtar. However, he declined to narrow the identity of the "winner" but said the names would be submitted to the board later this month. The three shortlisted bidders are speculated to be DRB-Hicom, NATIONWIDE EXPRESS COURIER SER vices and a Amanah REIT-Malaysia Pacific Corp joint venture, wit offers ranging between RM3.38 and RM4.62 per share. The other two bidders were Scomi Bhd and TRICUBES BHD.

Guocoland Bhd posted net loss of RM3.64 million in the third quarter ended March 31, 2011, which was narrower compared with net losses of RM5.65 million a year ago. It reported revenue of RM23.95 million, down from RM42.42 million a year ago. Loss per share was 0.54 sen compared with 0.84 sen. For the nine-months, its net loss was RM2.38 million compared with net profit of RM2.49 million in the previous corresponding period. Revenue was RM84.29 million versus RM130.49 million a year ago. Its net asset per share was RM1.12. According to the notes to the accounts, it had short-term and long-term borrowings of RM786 million as at March 31, 2011.

FBMKLCI 1520.09  DJ+81.13 CRUDE OIL104.50 RM 2.996

ECM Libra’s earnings surged 250% to RM45.84 million in the fourth quarter ended Jan 31, 2011 from RM13.12 million a year ago, boosted by higher brokerage and fee income and also from trading and investment securities. Revenue doubled to RM105.84 million from RM46.79 million a year ago  while earnings per share were 5.61 sen. It proposed dividend of 4.25 sen per share. For the financial year ended Jan 31, 2011, net profit rose 59.7% to RM65.21 million from RM40.81million in the previous financial year. Revenue rose 60.2% to RM214.64 million from RM133.96 million.

Khazanah Nasional Bhd and its advisers yesterday shortlisted three companies for the sale of its 32.21% stake in Pos Malaysia Bhd. According to sources, the three companies are DRB-HICOM (M) Bhd, Nationwide Express Courier Services Bhd and Scomi Group Bhd.

Ekovest Bhd has signed a joint-venture and shareholders’ agreement with Malaysian Resources Corp Bhd (MRCB) and KL Bund Sdn Bhd in relation to the River of Life project.

Kencana Petroleum Bhd has secured a RM216 million contract from Petrofac Malaysia Ltd for the CONSTRUCTION [] of well head platforms for the Cendor oil field off the coast of Terengganu.

PETRA PERDANA BHD [], Koh Pho Wat ceased to be a substantial shareholder after disposing of one million shares on Monday at 94.5 sen a share. His direct stake was reduced to 4.78% or 21.517 million shares.

In RHB CAPITAL BHD [], the Employees Provident Fund board disposed of three million shares on March 24, reducing its stake to 959.96 million shares or 44.58%.

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 1511.72 DJ-18.46 CRUDE OIL 91.08 RM 3.11

Speculation about Johor Corp Bhd's (JCorp) plan to divest its stakes in QSR Brands Bhd and KFC Holdings (M) Bhd was put to rest yesterday after the state investment company reiterated it has no plans to sell those prized assets. “QSR and KFC are not for sale,” JCorp president and chief executive Kamaruzzaman Abu Kassim said in a statement, adding that it did not make sense for the company to sell its “core business”.

Malaysia Airports Holdings Bhd (MAHB) has highlighted that achieving earnings before interest, tax, depreciation and amortisation of RM773.4mil; a return on equity of 10.73% and a top 5 worldwide ranking for KL International Airport as its headline key performance indicators (KPIs) in 2011.

MAHB told Bursa Malaysia yesterday that the headline KPIs were set based on its strategic plans and long-term targets that were developed under its five-year (2010-2014) business direction planning initiative.

The Employees Provident Fund (EPF) raked in RM5.75bil in investment income for the third quarter ended Sept 30, a 5.12% increase from RM5.47bil registered in the same quarter last year. In a statement yesterday, it said equities investment was the largest contributor with RM2.4bil, representing a 2.56% increase compared with RM2.34bil recorded in the previous corresponding period.

DRB-Hicom is exploring the possibility of divesting its interests in insurers Uni.Asia Life Assurance and Uni.Asia General Insurance, say sources. There has been an interest in DRB’s insurance units but the potential buyer is still studying the numbers. It has not reached the decision stage yet. DRB’s major shareholder, Tan Sri Syed Mokhtar Al Bukhary, declined to comment. DRB has a 51% stake in Uni.Asia Life and 34.73% stake in Uni.Asia General. Its current equity partner in the two units is Singapore’s UOB.

FBMKLCI 1509.1 DJ-19.07 CRUDE OIL 88.25 RM 3.13

PN17 company LCL Corp Bhd could be delisted by Dec 27 for failing to submit its regularisation plan to the Securities Commission or Bursa Malaysia.

MRCB and IJM Land Bhd have extended the validity of their memorandum of understanding to merge and create the country’s second-largest property company to Dec 29 from Dec 14 previously.

Menang's unit wins RM1.5b contract to build 5 UiTM campuses nationwide for more than RM1.5 billion over 23 years. IMSB will build the Seremban campus, designed to cater for 5,000 students, over three years. Upon completion, the campus will be leased to the government/UiTM for 20 years. The company will maintain the facilities and infrastructure of the campus during the 20-year lease period. 

RHB Capital’s wholly owned subsidiary, RHB Bank, has entered into a MoU with Sumitomo Mitsui Banking Corp (SMBC), in line with its objective of becoming a major player in the banking industry. “RHB sees this MoU as one of the many proactive steps it is taking in enhancing its local and global strategic economic network,” it said in a statement yesterday. “The alliance will assist RHB, together with its respective subsidiaries and related companies, in strengthening its position in the Japanese business segment and also in establishing a stronger foothold in the international arena as part of the RHB banking group’s strategy for business expansion with ever deepening economic ties between Japan and Malaysia.”

DRB-HICOM Bhd has signed a MoU with the Kamaz Group, the largest automobile corporation of the Russian Federation, to look into the possibility of manufacturing and assembling selected Kamaz heavy duty trucks for the Malaysian and Asean markets. “This MoU will pave the way for the feasibility and a detailed costing study as well as the models of Kamaz truck suitable for this region,” said DRB-HICOM group managing director Datuk Seri Khamil Jamil in a statement yesterday.

FBMKLCI 1510.06 DJ +13.32 CRUDE OIL 88.74 RM 3.113

The federal Cabinet has agreed in principle to a revision of electricity tariff but has not decided when it should take place. Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui said an electricity tariff revision was on the cards but the Government had not decided when. He said there were many issues that the Government needed to address before a time could be set for the revision.

Dayang Enterprise Holdings Bhd is disposing of its 40% stake in Syarikat Borcos Shipping Sdn Bhd to AWH Equity Holdings Sdn Bhd for RM135mil.

Tan Sri Syed Mokhtar Al Bukhary is believed to be considering taking auto and banking group DRB-HICOM private, people familiar with the plan said yesterday. It is further believed that the tycoon is being advised by Maybank Investment Bank on the plan, which could cost him close to RM2bn. Sources said the offer will be comparable to DRB-HICOM's NTA value, which stood at RM2.50 as at end of September this year. As at July this year, Syed Mokhtar held a controlling 55.9% of DRB-HICOM, via privately held Etika Strategi SB.

Paramount Corp Bhd announced yesterday a special dividend of 40 sen per share, less tax at 25%, for the year ending Dec 31, 2010.

Alam Maritim Resources has seen its share price plummet on potential debt write-offs owed by Vastalux SB, a debt-ridden subsidiary of another O&G firm, Vastalux Energy. It is mulling a provision for the total debt owed by Vastalux this fiscal year and may even consider liquidating Vastalux given the remote chance of the former recovering its debt.

KFC India, a subsidiary of Kuala Lumpur-based KFC Malaysia, has been operating in India since a year, and has already opened six stores in the state of Maharashtra - four in Mumbai, one in Pune and one in Aurangabad. It has plans to increase its number of stores to 17 next year, says Hezal Ahmad, CEO of KFC
India.

Proton’s subsidiary Group Lotus plc will buy a major equity stake in the Renault F1 team, which will be renamed Lotus-Renault GP team, from the start of the 2011 Formula 1 season onwards. Group Lotus will buy a 25% stake from Luxembourg-based investment group Genii Capital. The price tag was not mentioned.

Bina Puri Holdings Bhd has won a Stormwater pipeline project worth 23.99 million riyal, or about RM19.91mil, from the Saudi Arabia’s City Council of Northern Border (Turaif), through its associate company, Bina Puri Saudi Co Ltd.

Hartalega Holdings has clarified that its factory in Ijok, Kuala Selangor, has never been ordered to close, suspended, nor issued serious warnings of any kind. In a statement issued yesterday, its executive director Kuan Mun Leong categorically denied the allegations reported to have been made by Deputy Minister at the Prime Minister's Department Datuk T. Murugiah and some residents of Taman Suria.

FBMKLCI: 1496.49 

New stock listing

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

1.    5183                PCHEM           5.200                         3.640               26.000

AirAsia Bhd posted a record net profit of RM327.29 million in 3QFY10 ended Sept 30, up 140% from RM136.26 million the previous corresponding quarter as it flew more passengers. 

Genting Bhd's 3QFY10 ended Sept 30 net profit grew 3.62% to RM765.92 million from RM739.17 million in the previous quarter with a deceleration of contribution from its Singapore and Malaysia leisure and hospitality operations.

JohorCorp (JCorp), the ultimate major shareholder of QSR Brands Bhd, has poured cold water on Tan Sri Halim Saad's bid for Malaysia's biggest fast food group on the same day that a much higher offer was made. Earlier yesterday, US private equity group Carlyle Group offered RM6.70 a share for QSR, its parent Kulim (M) Bhd told Bursa Malaysia. But JCorp's evening announcement provided a late twist to the tale and raised more questions as it did not comment on Carlyle's bid

DRB-HICOM Bhd  said net profit for the second quarter to September 30 grew 185.5 per cent to RM155 million, from RM54.3 million in the same period last year. Consequently, net profit for the six months was at RM355.2 million against RM114.8 million in the first half of last year.

The government is expected to award the jobs for the long-awaited light rail transit (LRT) extension project soon, and successful bidders have been short listed. Sources said. According to a source familiar with the matter, parties that had lobbied for the LRT extension jobs for the Ampang and Kelana Jaya lines include UEM Group, IJM Corp, Bina Puri and TRC Synergies. The contracts to be awarded will be building of LRT stations, laying groundwork and alignment before constructing the railway. The total extension length of the Kelana Jaya line is 17km and for the Ampang line 17.7km. Both extensions will see an additional 13 stations.

Construction work on the Penang Sentral Integrated Transport Hub in Butterworth is expected to begin next month, according to developer Malaysian Resources Corp (MRCB). MRCB executive director, Datuk Ahmad Zaki Zahid, said the company has solved all the land issues and the project could proceed as usual. "The first phase of the project is expected to be completed before 2013," he told a media briefing yesterday The hub, a component project of the Northern Corridor Economic Region, would be undertaken by a joint-venture between MRCB and Pelaburan Hartanah Bumiputra .  It was earlier reported that the first phase would be delayed due to some land issues.  Ahmad Zaki said the actual cost of the project was expected to increase to RM2.7bn

MAS posted operating profit of RM122.7 million for the third quarter ended Sept 30 (3Q2010) compared with an operating loss of RM77.4 million a year ago, which lifted the nine-month financial period solidly into the black. For the 3Q2010, the significant improvement was mainly due to higher operating revenue and improvement in its yield.

PROTON saw its earnings decline 19.6% to RM65.92 million in the second quarter ended Sept 30, 2010 from RM82.06 million a year ago, due to  one-off provision for stock obsolescence and branding cost. It said on Thursday, Nov 25 revenue was 6.6% higher at RM2.24 billion compared with RM2.10 billion. Earnings per share were 12 sen compared with 14.9 sen. Its net asset per share was RM9.83. Group profit before tax was RM81.26 million, a decline of 19% from RM100.65 million a year ago.

YTL Corp Bhd reported a 34.3% increase in its earnings at RM278.9 million for the first quarter ended Sept 30 from RM207.5 million a year ago, boosted by the strong performance in its major operating companies.