FBMKLCI 1561.77 DJ-91.50 CRUDE OIL 99.22 RM 2.9370

New stock listing

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

1.         5204             PRESBHD                      0.90                 0.60             4.50

Prestariang Bhd, which debuts on Bursa Malaysia today has secured an RM80mil contract from the Higher Education Ministry for an industry-based certification scheme. In a filing with Bursa Malaysia yesterday, Prestariang said its wholly-owned subsidiary, Prestariang Systems Sdn Bhd, had secured the contract from the Government to provide professional information, communications and technologies (ICT) training and certification of ICT and ICT-related fields in public higher education institutions in Malaysia.

PeterLabs executive director Dr Teo Kooi Cheng said the company had begun exporting its products now that it had appointed official distributors in Indonesia, Bangladesh, Sri Lanka, the Philippines and Saudi Arabia. “The local market is already mature as our market share for animal feed additives is 19.1%. The focus for us now is overseas expansion,” Teo told reporters after the listing ceremony yesterday. Last year, PeterLabs poster net profit of RM5.9mil on revenue of RM40.7mil. The company expects a 15% to 20% growth this year with 5% of it coming from exports.

Sarawak Cable Bhd has formed a strategic partnership with power and automation technologies company ABB Malaysia Sdn Bhd to submit a tender for Sarawak’s Samajaya substation to be implemented by Sarawak Energy Bhd. The proposed joint venture – Sarawak Cable Bhd-ABB Malaysia Sdn Bhd – was entered into yesterday via a consortium agreement and a supplemental consortium agreement.

Uzma Bhd's subsidiary, Uzma Engineering Sdn Bhd (UESB), has secured a contract worth RM170mil from Petronas Carigali Bhd. In a statement to Bursa Malaysia, Uzma said the contract was for the provision of integrated equipment and services for idle well reactivation project. The contract period will be three years effective from July 25.

TELEKOM MALAYSIA BHD []’s unit has placed out 92.36 million Axiata Group Bhd at RM5.07 a share. The exercise raised gross proceeds of RM468.3 million for TM.

Alam Maritim’s unit has received a letter of award from Petronas Carigali Sdn Bhd to provide one anchor handling tug supply vessel for RM10.6 million. The contract  started on July 13 and the duration is for a primary period of 150 days with two  extension options of 45 days each.

Berjaya Food Bhd is expanding its Kenny Rogers Roasters (KRR) brand into Indonesia after it inked a joint venture (JV) agreement with three Indonesian companies to develop and operate the franchise. It had entered into a conditional JV agreement with PT Mitra Samaya (MS), PT Harapan Swasti Sentosa (HSS) and PT Boga Lestari Sentosa (PT Boga) to operate the franchise in Java island and Bali, Indonesia under PT Boga.

FBMKLCI 1533.57 DJ+38.45 CRUDE OIL 101.73 RM 3.0190

Malaysian Airline System Bhd (MAS) posted a net loss despite recording strong revenue and traffic growth for the first quarter ended March 31, 2011 as high jet fuel price and a stronger ringgit impacted earnings. The airline posted a net loss of RM242.33mil for the quarter under review from 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.

CIMB Group Holdings Bhd's net profit for first quarter ended March 31 was 9.4% higher year-on-year at RM917mil as credit losses dropped sharply. The net profit was equivalent to net earnings per share of 12.3 sen from 11.86 sen a year ago. This was achieved despite a 1.3% decrease in revenue to RM2.75bil for the quarter under review. The annualised net return on equity (ROE) for the quarter was 15.7%.

Telekom Malaysia Bhd's (TM) net profit for its first quarter ended March 31 (Q1FY11) was down 32.8% to RM163.3mil from a year ago mainly due to lower unrealised exchange gains on translation of foreign currency borrowings. But the revenue for the quarter under review recorded a 1.1% growth to RM2.15bil year-on-year (y-o-y), mainly attributed to higher revenue from data, Internet and multimedia services, which when combined contributed 57% of the group's total revenue for the quarter. Earnings per share was down to 4.6 sen for the quarter from 6.9 sen a year ago.

Mah Sing Group Bhd's net profit jumped 47.6% to RM41.1mil for the first quarter ended March 31 due to progressive recognition of development revenue and contribution from its property projects in the Klang Valley, Penang and Johor Bahru. The company said in a statement yesterday that revenue for the quarter rose to RM311.7mil against RM238.3mil a year ago. Earnings per share stood at 4.95 sen. Mah Sing said projects that contributed to the group's profit and revenue included Perdana Residence 2 in Selayang, Garden Residence in Cyberjaya as well as Hijauan Residence and One Legenda in Cheras.

Proton Holdings Bhd posted a higher net profit of RM61.6mil for the fourth quarter ended March 31 compared with a net profit of RM2.64mil in the previous corresponding quarter. In a filing with Bursa Malaysia yesterday, the company attributed the positive results to higher vehicle sales for Proton and Lotus Group International Ltd. Proton vehicle sales for the fourth quarter was driven by demand for its Persona, Saga, Exora and Inspira models. However, for its full financial year ended March 31 (FY2011), Proton's net profit dropped by 30.5% year-on-year to RM152mil against a net profit of RM218.9mil previously.

Revenue for FY2011 grew to RM8.98bil compared with RM8.2bil in the previous year.

Property developer Ibraco Bhd, which has exited the Practice Note 17 (PN17) list, will embark on a new residential project in Stutong here. The company also plans to extend its property development activities to other major towns in Sarawak and venture into construction business. Chief executive officer Chew Chiaw Han said Ibraco would launch the proposed Stutong housing project, comprising 77 single-storey terraced and semi-detached houses, in July. “The project will have a gross development value (GDV) of about RM15mil,” he told StarBiz.

Property developer UEM Land Holdings Bhd's net profit and revenue for the first quarter ended March 31 soared compared with the same quarter a year ago on realisation of earnings from its own projects in Nusajaya, Johor, and from subsidiary Sunrise Bhd. The company said net profit jumped 460.34% to RM17.60mil on revenue that advanced 372.77% to RM187.68mil. 

Muhibbah secured a contract worth RM101 million in Australia for the Gorgon liquefied natural gas (LNG) jetty and marine structure project.

KUALA LUMPUR KEPONG BHD (KLK) posted a strong set of earnings in the first quarter, with net profit at RM373.85 million, up 73% than the RM215.93 million a year ago. Revenue also showed an increase, rising 24.6% to RM2.368 billion from RM1.90 billion a year ago.

Alliance Financial Group Bhd’s fourth quarter earnings rose 10% to RM84.93 million from RM77.25 million a year ago due to higher net income, lower overheads and lower impairment charge. Revenue was RM270.53 million compared with RM277.56 million, earnings per share were 5.5 sen compared with 5.0 sen.

FBMKLCI 1513.84 DJ+84.54 CRUDE OIL 105.47 RM 2.9980

SEGi said it has set a dividend policy to distribute a minimum of 50% of the group net profits to its shareholders, with effect from the financial year ending Dec 31, 2011. SEGi said the board believes that the dividend payout of a minimum of 50% of its net profits is within the group’s financial capability considering its future earnings growth.

Both Axiata Group Bhd and Telekom Malaysia Bhd (TM) have barred Alcatel-Lucent from participating in tenders, contracts or joint ventures for a year following the call from Malaysian Anti-Corruption Commission (MACC). “Alcatel-Lucent welcomes the MACC recommendation and is committed to earning back our customers' trust,” it said in a statement in response to the 12-month suspension.  Axiata said the suspension runs for 12 months from Feb 18 while TM's suspension was effective Jan 5.

Gamuda’s  net profit for the second quarter ended Jan 31, 2011 rose 19.6% to RM94.03 million from RM78.63 million a year earlier, mainly due to higher contributions from all its divisions. Revenue rose marginally to RM607.19 million from RM603.24 million. Earnings per share were 4.59 sen, while net asset per share was RM1.74.For the six months ended Jan 31, Gamuda’s net profit rose to RM182.56 million from RM152.66 million in 2010.

Ramunia's net profit for the first quarter ended Jan 31, 2011 fell to RM1.1 million from RM3.42 million a year earlier due mainly to the tail end of the remaining projects billings and lower operating income. Revenue slumped to RM1.36 million from RM15.85 million in 2010. Earnings per share were 0.17 sen while net assets per share was 25.1 sen. Reviewing its results and commenting on its prospects, Ramunia said it was finalising its PN 17 regularisation plan.

Digistar, it said with the secured order book of RM102 million, it is in the midst of tendering and bidding of additional of RM130 million worth of contract and project of broadcasting jobs in Malaysia. “The company is in the view that, once secure with additional contracts, barring any unforeseen circumstances, the expectation in rise of additional revenue in FY2011 shall increase around 30% to 40%, if compared to recorded revenue of RM73 million in FY10,” it said in reply to a query from Bursa Securities.

Eastern & Oriental Bhd’s (E&O) wholly-owned subsidiaries E&O Property Development Bhd and Samudra Pelangi Sdn Bhd has proposed to dispose of their entire securities interest in Fututech Bhd for RM8.78mil cash.

OSK Property Bhd bought 16 acres of prime freehold commercial land in Cyberjaya’s flagship zone from Setia Haruman Sdn Bhd for some RM86.5mil.

Sarawak plywood mills’ plans to raise their production to meet an anticipated high demand from Japan for the reconstruction of Sendai, a Pacific coastal town destroyed by a magnitude-9 earthquake and tsunami, will be hampered by a shortfall in the supply of raw material.

FBMKLCI 1489.27 DJ+61.95 CRUDE OIL 99.55 RM 3.024

Bina Puri Holdings Bhd's subsidiary, Bina Puri (B) Sdn Bhd has secured a total of RM1.1bil worth of projects in Brunei. Bina Puri (B) Sdn Bhd chairman Datuk Ali Abdullah in a Q&A session in Kuala Belait, Brunei on Friday said the company had an unbilled portion totalling RM265mil until 2013. He said it planned to secure another RM600mil worth of projects in the Sultanate this year.

TM proposed a capital distribution of about RM1.037 billion or 29 sen for each share held. TM said the proposed capital distribution will be funded through its existing cash balances, which stands at RM3.488 billion as at Dec 31, 2010. TM also announced its earnings rose 135%to RM400.63 million in the fourth quarter ended Dec 31, 2010 from RM170.25 million a year ago. Revenue was marginally higher by2.1% at RM2.32 billion from RM2.27 billion. Earnings per share were 11.2 sen compared with 4.8 sen. It proposed a final dividend of 13.1 sen per share. For FY10, TM’s earnings surged 87.6% to RM1.20 billion from RM643.02 million. Its revenue rose 2.1% to RM8.79 billion from RM8.61 billion.

CIMB Group posted a record net profit of RM3.52 billion in the financial year ended Dec 31, 2010. For the fourth quarter, earnings were RM877.62 million, boosted by its Indonesian operations. The 4Q net profit was 9.3% higher from the RM802.89 million a year ago. Revenue rose 16% to RM3.168 billion from RM2.731 billion. Earnings per share were 11.83 sen compared with 11.37 sen.

MAS posted net profit of RM225.92 million in the fourth quarter ended Dec 31, 2010, down 64.7% from RM640.12 million a year ago, on lower derivative gains and higher finance costs. Its managing director and chief executive officer Tengku Datuk Seri Azmil Zahruddin was quoted saying MAs had operationally, done well in the quarter where traffic volumes rose 10% and yields were up 5%. However, it was also weighed down by higher cost of fuel despite that it carried more passengers. Its fuel bill was 13% higher at RM1.2 billion in 4Q compared witrh RM1.06 billion due to higher fuel prices and consumption. Its revenue rose 8.2% to RM3.67 billion from RM3.39 billion a year ago. Earnings per share were 6.76 sen compared with 31.17 sen.

Proton swung into the red with net loss of RM60.1 million in the third quarter ended Dec 31, 2010 compared to net profit of RM79.68 million a year ago, due mainly to higher branding costs as well as the restructuring expenses incurred by Lotus Group International Ltd. Revenue for the quarter fell by 8.96% to RM1.83 billion from RM2.01 billion last year. Loss per share was 10.90 sen compared to earnings per share 14.50 sen previously. Net assets per share was RM9.73. For the nine months ended Dec 31, 2010 Proton’s net profit fell 58.1% to RM90.5 million from RM216.29 million, although revenue rose to RM6.36 billion from RM5.97 billion. Proton said as part of the transformation plans to turn around LGIL, it had started investing in rationalisation of dealers network, and branding activities to deliver the five-year business plans. Proton also said that during 3Q, it had experienced lower domestic sales volume, as well as increased promotional and marketing spending by a principal subsidiary.

UEM Land Bhd recorded a 37.3% increase in its earnings to RM135.36 million in the fourth quarter ended Dec 31, 2010, boosted by higher revenue and higher margin achieved for one-off transactions from strategic land sales.

AZRB posted net loss of RM83.06 million in the fourth quarter ended Dec 31, 2010 compared with net profit of RM5.13 million a year ago following the termination of the Alfaisal University Campus project in Riyadh, Saudi Arabia. Revenue shrank to RM52.62 million compared with RM105.56 million a year ago. Loss per share was 30.03 sen compared with earnings per share of 1.86 sen. For the financial year ended Dec 31, 2010 its net loss was RM61.28 million compared with net profit of RM20.76 million in FY09. Its revenue was RM431.34 million compared with RM459.40 million.

Faber Group saw its net profit shrink to RM2.91 million in the fourth quarter ended Dec 31, 2010 from RM42.57 million a year ago. Revenue declined to RM203.95 million from RM303.93 million. Earnings per share were 0.8 sen only compared with 11.73 sen. It proposed dividend of eight sen per share compared with six sen. For the financial year ended Dec 31, 2010 net profit was RM78.78 million compared with RM82.68 million in FY09.

FBMKLCI 1562.94 DJ+34.43 CRUDE OIL 91.13 RM 3.05

Low Chuan Holdings Sdn Bhd (LCH), an indirect substantial shareholder of Asia Pacific Land Bhd (AP Land), has offered to acquire the entire business of the latter for 45 sen per share or RM305.22mil. The price represents a 9.8% premium over AP Land's last traded price of 41 sen on Monday. Trading in the company's shares were suspended yesterday and will resume today. The proposed acquisition would be settled via cash totalling RM201.5mil while the remaining RM103.7mil would be an amount owed to AP Land.

The Court of Appeal has dismissed an appeal by Telekom Malaysia Bhd and its unit TM Net Sdn Bhd over a  suit filed by Network Guidance Sdn Bhd in 2009 which was later amended to RM400 million. TM said the Court of Appeal dismissed with costs TM and TM Net Sdn Bhd’s appeal against the High Court’s decision dated Aug 9, 2010 to dismiss their application to strike-out Network Guidance's writ and amended statement of claim.

The first phase of Dialog Group’s RM5bn independent deepwater petroleum terminal in Johor, slated to be among the world's largest, will be completed by 2014, an official said. Dialog is leading a consortium, comprising the Johor state government and Dutch firm Vopak, in developing the terminal in Pengerang, south-east of Johor. Dialog's executive chairman Ngau Boon Keat said work on the project is expected to start this April. "We'll do it in three phases over seven years. The first, which we're targeting to complete by the end of 2013 or early 2014, will have 1.3 million cubic metres of storage capacity," he told reporters in Putrajaya yesterday.

LPI CAPITAL BHD posted net profit of RM36.94 million in the fourth quarter ended Dec 31, 2010, up 5.6% from the RM34.97 million a year ago, boosted by higher gross premium underwritten. Revenue rose 6.6% to RM190.74 million from RM178.88 million while net assets per share were RM5.26 versus RM6.54.

It also declared a second single tier interim dividend of 45 sen per share which will go ex on Jan 24 and entitlement date is Jan 26.

Sunway Holdings Bhd, via indirect subsidiary Sunway Developments Pte Ltd (SDPL), has been awarded a tender to jointly develop a parcel of land at Yuan Ching Road, Singapore, for a 103-year lease term at S$131.6mil (RM314.91mil). Hoi Hup, SDPL and SC Wong Holdings intend to incorporate a joint venture on a 60:30:10 basis to undertake the development of the land,” Sunway Holdings told Bursa Malaysia yesterday. The tender was awarded by the Housing and Development Board of Singapore, it said.

The tenders for the Mass Rapid Transit (MRT) works will be called in April and awarded in May, according to the Land Public Transport Commission. The tenders will be called by Syarikat Prasarana Negara SB but the decision to award lies with the government with input provided parties like LPTC and the main contractor Gamuda-MMC Corp. “The final pathway for the three MRT lines are now being determined in the value management study, so the RM36.6bn project value figure could change as result. “The second and third routes will be announced in March when the urban rail development master plan is released,” said LPTC chief executive officer Mohd Nur Ismal Kamal.

Hap Seng Consolidated’s shares have come under selling pressure  as investors sold their shares after it announced a corporate exercise to raise RM1.5 billion. However, investors would now have to assess the fair value of the shares after the recent selldown.

SEG International Bhd is teaming up with Oakfine Development Sdn Bhd to expand the former’s business in Perak. Its unit SEGi University College (M) Sdn Bhd had entered into a heads of agreement with Oakfine for the proposed expansion. Oakfine plans to develop 60 acres of land in Hulu Kinta while SEGi group plans to expand its core business of providing educational and training services in Perak.

FBMKLCI 1568.37 DJ-25.58 CRUDE OIL 88.26 RM 3.04

Selangor has made a fresh offer to the water concessionaires in another effort to resolve the impasse in the state’s water-restructuring exercise. Worth over RM9bil, according to Mentri Besar Tan Sri Abdul Khalid Ibrahim in a press briefing yesterday, the offer was the third by the state government and the fifth overall, counting one offer worth RM10.3bil by the Federal Government and another worth RM10.8bil by Gamuda Bhd, owner of a 40% stake in Syarikat Pengeluar Air Selangor Sdn Bhd (Splash). Khalid said in a press statement issued yesterday that the state was offering to acquire the entire stakes in Puncak Niaga Sdn Bhd for RM64.62 per share, Syarikat Bekalan Air Selangor Sdn Bhd for RM20.78 per share, Konsortium Abass Sdn Bhd for RM9.39 per share and Splash for RM5.95 per share.

Malayan Banking Bhd (Maybank), the country's largest bank in assets, is planning to take over Singapore stockbroker Kim Eng Holdings Ltd in a deal valued at up to S$1.79bil (RM4.26bil) to grow its regional footprint in investment banking and stockbroking operations. Maybank will pay S$768mil (RM1.9bil) to buy a 44.6% stake in Kim Eng from chairman and chief executive officer Ronald Anthony Ooi and Taiwan's Yuanta Securities Asia Financial Services Ltd and launch a buyout offer for the remaining shares of the Singapore company which is ranked as a top 5 stockbroker in Singapore, Thailand, Indonesia and the Philippines.Kim Eng also has a presence in global financial centres in Hong Kong, London and New York. 

Sunway City Bhd has launched its latest integrated mixed development – Sunway Nexis at Dataran Sunway, Petaling Jaya. In a statement yesterday, the company said the development covered 5.83 acres with a gross development value of RM500mil. The development is being undertaken by Sunway Damansara Sdn Bhd. Sunway City managing director of property development Ho Hon Sang said: “Sunway Nexis is a complete lifestyle centre encompassing leisure, entertainment, recreation and work facilities. Following the success of Sunway Giza, this development offers modern retail shops, office suites and SoHo with a promising potential for growth.

Ramunia, which is without a core business, is in talks to acquire Syarikat Borcos Shipping SB, sources said. Negotiation is rumored to have commenced, but it is not known how the acquisition will be concluded.

TM is expected to finish its internal investigation on alleged bribes to its employees, a month from the board subcommittee
inaugural meeting on 3 Jan.

Transport Minister Datuk Seri Kong Cho Ha expects a conservative 7% growth in passenger arrivals at Malaysian airports this year, riding on the fast growing Asia Pacific region. “We have achieved more than 15% growth in 2010 and are confident of seeing growth this year,” he said.

FBMKLCI 1566.17 DJ+31.71 CRUDE OIL 90.60 RM 3.04

MTD Cap joint venture company in the Philippines continues to receive opposition to its toll hike at South Luzon Expressway (SLEX). The highway owner and operator told Bursa Malaysia yesterday that its subsidiary MTD Manila Expressways Inc had received a copy of a second supplemental petition for the issuance of a temporary restraining order (TRO) and/or status quo ante order to restrain the implementation of the 290% rise in toll fees at the SLEX.

Maxwell International Holdings – a China-based sports footwear manufacturer – will be listed on Thursday. Its offer of 20 million new shares was undersubscribed, with applications for 18.015 million shares.  The IPO consisted of a public issue of 63.75 million new 40 sen shares at an offer price of 54 sen each.

The Edge FinancialDaily also reports that the severe flooding in Australia has resulted in a dip in Tenaga Nasional Bhd's (TNB) share price on the back of rising coal prices following a supply disruption, although this could represent an opportunity to accumulate shares in the national utility company, say some analysts.

CHUAN HUAT RESOURCES BHD’s rights issue of 41.79 million warrants was oversubscribed by 16.45 times. The total acceptances and excess applications received for the rights issue was for 729.26 million, or 1,745.10% of the 41.79 million warrants available.

UMW Holdings, a vehicle assembler and industrial equipment maker, plans to revisit the listing proposal of its oil and gas unit once the division returns to the black this year. The unit, known as UMW Oil & Gas Bhd, which houses exploration operations, fabrication and pipe-manufacturing businesses, is expected to be profitable again by June this year in line with an industry wide turnaround, according to UMW president and group CEO Datuk Syed Hisham Syed Wazir. The move to spin off its oil and gas unit has been delayed several times after the plan was made public in 2008, with officials citing unfavourable market conditions and sentiment for the postponement.

Telekom Malaysia Bhd was served with a RM25m judgement in default on Monday by a local technology company, which it intends to set aside. AINB Tech (M) SB had served the judgement dated 2 Dec 2010, which included claims for expenses incurred for the purpose of a project known as ‘supply, delivery, installation, testing, commissioning and support of One Number Service’ between the two parties, Telekom said in a Bursa Malaysia filing, yesterday.

FBMKLCI 1503.22 DJ+106.63 CRUDE OIL 87.87 RM 3.115

TM stands to gain RM444.7 million through the proposed sale of some 191.46 million shares it holds in Axiata Group Bhd, representing a 2.27% stake via private placement or in the open market.

Glomac’s 1HFY11 results stripping out the RM4.9m fair value gain on properties, its 1HFY11 turnover and core net profit improved significantly by 99% (+12% q-o-q) and 47% (+40% q-o-q) respectively on the back of higher progress billings from its high unbilled sales. Its latest unbilled sales stood at RM572m (1.8x FY10’s turnover).

IJM Corp and JAKS Resources’ 60:40 joint venture has secured a RM268.5m contract from the Ministry of
Energy, Green Technology and Water for the Pahang-Selangor Raw water transfer project. The project involves the construction of 3m nominal diameter mild steel pipes with a total length about 24km and two access roads of 1.9km and 1.5km long (including 80m long bridge).

EPF will raise up to RM765.5m from a planned sale of a block of RHB Capital shares, which will see its shareholding in the bank drop below the 50% mark. A term sheet detailing the placement exercise obtained by Reuters showed that the indicative pricing of the placement had been set at between RM7.50 and RM7.90 per share.