FBMKLCI 1539.55 DJ+71.52 CRUDE OIL 87.48 RM 3.003

Multi-Purpose Holdings Bhd (MPHB) will be announcing a major acquisition today, reliable sources said, although speculation is rife that the company could also be announcing the re-listing of its gaming subsidiary Magnum Corp Sdn Bhd. 

Tabung Haji, Mara in medical ventureIt is understood that Lembaga Tabung Haji and Majlis Amanah Rakyat (Mara) are expected to end up with a total of 45% equity stake in the newly-established Academic Medical Centre Sdn Bhd (AMC) that has a tie-up with world renowned Johns Hopkins Medicine International and Royal College of Surgeons (RCSI) in Ireland to offer courses at the soon to be set up RM2bil Perdana University Graduate School. Tabung Haji is likely to end up with 30% stake while Mara 15% in AMC. The remaining 55% equity will be held jointly by two companies controlled by businessman Tan Sri Dr Mohan Swami (pic). The two companies are Turiya Bhd and Chase Perdana Sdn Bhd.

On Tuesday, HWGB and its warrants, which fell in active trade after surging on Monday, accounted for more than 115 million units transacted. HWGB fell 15.5 sen to 77.5 sen and HWGB-WB lost 15.5 sen to 74 sen as traders sold on news about its proposed tin mining operations.

PJI secured a RM55.89-million sub-contract from IJM CONSTRUCTION [] Sdn Bhd for a college in Kedah. PJI said its unit P.J. Indah Sdn Bhd had received the letter of award from IJM for the mechanical and electrical services of Kolej Universiti Insaniah’s permanent campus.

KENCANA PETROLEUM BHD []’s 166.69 million new shares were placed out at RM2.38 each and raised gross proceeds of RM396.7 million. The issue price of RM2.38 was a discount of about 1.65% to the closing market price of RM2.42 on Jan 25.

Today's Company Notes; fbm klci 1519.84

· F&N's 4QFY10 earnings surged to RM462.3mn from RM61.08mn  a year ago and it announced a final single tier dividend of 38 sen per share and a special interim dividend of RM1.10 per share.

·  AZRB is disposing 21.26% equity interest in Eastern Pacific Industrial Corporation Berhad to Lembaga Tabung Amanah Warisan Negeri Terengganu for a total cash consideration of RM111.5mn.

·  Dayang proposed  bonus  issue  and renounceable  rights issues on the basis of 1-for-4 Dayang shares held and after the proposed bonus issue respectively.

·  Uemland has no plans to raise its bid for Sunrise Bhd after the latter's share price jumped above the offer price yesterday. 

·  Mas's  unit  will  introduce jet aircraft operations  with  a  fleet of Boeing 737-800 aircraft operating out of the  Main  Terminal  Building of Kuala Lumpur International Airport in 2011.

·  HWGB  is  proposing  a private placement of up to 41.36mn  new ordinary shares of RM0.20 each to independent third party investor(s)  to  be  identified later at an issue price which is to be determined later.

·  Lonbisc  has served a notice to voluntarily buy all the remaining 54.4mn shares in TPC Plus Bhd it does not already own for 30sen a share.

·  Malaysia's GDP may expand 4.8% next year, slowing from a 7.4% gain in 2010  following  last  year's  recession,  the  World Bank said in its Malaysia Economic Monitor report.

·  More  U.S.  executives  than  ever  are increasing earnings forecasts compared  with  those  lowering  them, helped by almost $2 trillion of Federal Reserve spending and a recovery in the global economy.