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 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 1522.61 DJ-88.32 CRUDE OIL 104.91 RM 2.99

BURSA MALAYSIA is likely to continue its uptrend this week with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) expected to trade between 1,540 and 1,550 points level, dealers said. Investor sentiment remains positive on hopes foreign funds would flow back to emerging markets on a cheaper US dollar after the Federal Reserve suggested keeping its monetary easing policy.

However, a dealer said worries about tightening policies in emerging markets to combat inflation could still cap the upside in Asian markets, including Malaysia.

INVESTORS in the London FTSE 100 Index will have one eye on the events in conflict-hit Libya this week, and its effect on oil prices, and the other on the monthly interest-fixing Bank of England meeting. Trading sessions have been uncertain, with investors hesitant amid alarming images of unrest from oil-producing Libya and more upbeat news on the US economy and in company results. “The British markets seem less optimistic looking on the future of the economic recovery due to the growing global uncertainties, with the oil price and inflation on the way up,” said experts at UK Markets.

Sunway’s unit Sunway CONSTRUCTION Sdn Bhd Holdings Bhd has secured a RM257.96 million contract for the proposed construction of part of the Legoland Malaysia Theme Park in Johor. Sunway Construction had accepted the letter of award from IDR Assets Sdn Bhd to build package four of the theme park.

Fajarbaru’s unit has received the letter of acceptance from the BINA PURI HOLDINGS BHD-TIM Sekata joint venture for part of the light rail transit (LRT) extension project valued at RM62.66 million. Its unit Fajarbaru Builder Sdn Bhd was appointed by Syarikat Prasarana Negara Bhd as the nominated sub-contractor to the joint venture.

BANDAR RAYA DEVELOPMENTS BHD, whose unit BR Property Holdings Sdn Bhd has secured a RM450 million term loan to repay inter-company loans, payment of dividend and working capital purposes.

MUTIARA GOODYEAR DEVELOPMENT Bhd has launched its new phase of its lifestyle homes in Nadayu 92, Kajang with a gross development value (GDV) of over RM40 million.

UEM Group Bhd is looking into investing more in India’s infrastructure development projects particularly expressways, which presents tremendous growth potential. The projects would be undertaken by PLUS EXPRESSWAYS BHD [] and UEM BUILDERS BHD [].