FBMKLCI 1531.63 DJ+71.60 CRUDE OIL 104.32 RM 2.994

Trading in Fotronics Corp Bhd on Bursa Malaysia will be suspended from April 7 as it has failed to submit its regularisation plan within the stipulated time.

Berjaya Corp Bhd posted a net profit of RM32.46mil in the third quarter ended Jan 31, 2011 compared with net loss of RM156.20mil a year ago on higher profit contribution from gaming, stock broking, direct selling, retail and distribution businesses.

CIMB Bank Bhd and CIMB Islamic Bank Bhd have announced an increase in their base lending rate (BLR) and base financing rate (BFR) by five basis points from 6.3% to 6.35%, effective from April 4.

Integrated Logistics Bhd expects to spend RM200mil in three years to expand its business in China and Dubai.Integrated Logistics (China) Co Ltd head of corporate finance and investment Eric Tay said the amount was for the expansion of its warehouse to 4 million sq ft from 1.8 million sq ft currently. “Of the total investment, 40% will come from loans and 60% internal funding,” he said after the company's AGM yesterday.  The company's warehouse in Dubai would be a 50:50 partnership with a local company there and was expected to contribute to group revenue next year.

Ireka Corp Bhd's wholly-owned subsidiary, Ireka Engineering & Construction Sdn Bhd (IECSB), has received a letter of award from Transmission Technology Sdn Bhd for a RM232.75mil contract. It told Bursa Malaysia that it was for architectural as well as mechanical and electrical works on the proposed offices and hotel development in Kuala Lumpur.

Tan Chong Motor Holdings Bhd has received approval from the Securities Commission to upsize its asset-backed medium term notes (MTN) programme to RM2bil from RM600mil. “The approval would enhance the group's ability to tap the capital markets for future funding needs,” it said in a statement yesterday. The group has completed four issuances and raised over RM788mil from the capital markets via Premium Commerce Bhd's MTN programme. Premium Commerce Bhd is an independent special purpose entity established to undertake a securitisation programme for the Tan Chong group.

DBE Gurney’s additional 593.33 million new shares and 200 million warrants will be listed on Thursday. The warrants were issued for free to the subscribers of the renounceable rights issue of 400 million rights shares on the basis of one free detachable warrants for every two rights shares subscribed for. The maturity date of the warrants is March 22, 2016 and the conversion price is 10 sen. The new shares of 10 sen were issued pursuant to the rights issue with warrants and capitalisation of amounts due to director and creditors settlement.

V. S. Industry has set a dividend policy of making out an annual payment of at least 40% of its net profit to shareholders as dividends, and plans to disburse payouts on a quarterly basis. The dividend policy is effective in the current financial year ending July 31, 2011 (FY11). VSI’s net profit in the second quarter ended Jan 31, 2011 surged 134.1% to RM10.1 million from RM4.4 million a year ago, due to higher revenue. The profit came mainly from the higher group sales as a result of the increased sales generated by its Malaysian and Indonesian operations.

Masterskill Education Group Bhd has recommended a final single tier dividend of 7.9 sen per 20 sen share for the financial year ended Dec 31, 2010. It said on Wednesday, March 30 the dividends would be payable on June 15. The group had on Oct 13, 2010, completed the distribution of an interim dividend of seven sen per share to the shareholders. The total of 14.9 sen per share dividend for 2010 will represent a total payout of 60% of its net profit, equivalent to RM61 million.

FBMKLCI 1540.62 DJ+69.48 CRUDE OIL 87.47 RM 3.009

Fraser & Neave Holdings Bhd posted a jump in net profit to RM107mil in its first quarter ended Dec 31, 2010 from RM77.7mil a year ago, on account of higher revenue and tax incentives enjoyed by its dairy plant in Rojana, Thailand.

The world’s largest synthetic glove manufacturer Hartalega Holdings Bhd posted slightly higher net profit of RM49.2mil for the third quarter ended Dec 31, 2010 from RM37.2mil a year ago, while its revenue rose to RM188.1mil from RM148.6mil.

Maxbiz Corp Bhd will hold an EGM in Kuala Lumpur on Feb 23 on the proposed removal of its auditors Gomez & Co with immediate effect and proposed appointment of STYL Associates as auditors for the financial year (FY) ended Dec 31, 2010, it told Bursa Malaysia yesterday.

Iris Corp is venturing into industrialised building system (IBS) via a joint venture with a joint venture with Koto Malaysia Sdn Bhd and Ambitech Sdn Bhd. Iris said it planned to develop the Koto IBS for mass building projects in Peninsular Malaysia. “Koto IBS is an alternative way to mass manufacture energy efficient housing, commercial buildings, high-rises and affordable housing.

Ireka secured a RM27.58-million contract to build the structure for the proposed City International Hospital in Ho Chi Minh City, Vietnam. It was awarded the contract by Hoa Lam-Shangri-La Healthcare Ltd Liability Co. The contract works are expected to be completed by Sept 30, 2011.“The contract is expected to contribute positively to the earnings of the Ireka group for the financial year ending March 31, 2012,” it said.

KENCANA PETROLEUM BHD  plans to finance the US$200 million required to jointly develop and operate the Berantai oil and gas field through an equity/debt fund raising exercise. “The detailed breakdown between the various sources of funding has yet to be determined at this juncture, pending completion of the company’s proposed fund raising exercises in its entirety,” it said on Monday, Feb 7, in response to a query by Bursa Malaysia.

SAPURACREST PETROLEUM BHD informed the stock exchange that it was in discussions with a leading local bank to secure the necessary funding to part-finance its unit, Sapura Energy Venture’s contribution to the cost of development of the Berantai field.