FBMKLCI 1518.64 DJ-140.24 CRUDE OIL 107.78 RM 2.9930

Public Bank Bhd’s net profit rose 21% to RM828 million in the first quarter ended March 31, 2011 from RM685 million a year ago, underpinned by strong growth in net interest and finance income.

Maybank has received the Securities Commission’s approval to undertake a multi-currency medium term notes (MTN) programme totaling US$2 billion.

The MTN programme would enable it to issue senior and/or subordinated notes in currencies other than in ringgit at any time, provided the aggregate amount of outstanding notes does not exceed US$2 billion in nominal value.

Costume jewellery and consumer products manufacturer Zhulian Corp Bhd’s earnings fell 14.2% to RM21.30 million in the first quarter ended Nov 30, 2010 from RM24.84 million a year ago. Revenue was flat at RM86.22 million compared with RM86.33 million a year ago. Earnings per share were 4.78 sen compared with 5.42 sen.

The company reported cash and cash equivalents of RM133.14 million as at Nov 30, 2010.

UNITED MALAYAN LAND BHD []’s unit Seri Alam PROPERTIES [] Sdn Bhd is teaming up with Singapore’s Raffles Campus Pte Ltd to undertake a RM35 million campus in Iskandar Malaysia.

The MoU is to form a joint venture company to build the Raffles International School in Bandar Seri Alam. It will be managed and operated by Raffles as its first campus in Malaysia.

Bursa Malaysia depository Sdn Bhd, a subsidiary of Bursa Malaysia Bhd, is extending its administration fee waive of RM10 for the registration of eDividend until April 18, 2012.

FBMKLCI 1514.48 DJ+14.00 CRUDE OIL 91.51 RM 3.09

The independent directors of PLUS Expressways Bhd (PLUS) extended the period for new offers to buy the group’s business to Jan 10, 2011 from the earlier announced deadline of 5pm yesterday.

Sime Darby Bhd has filed a civil suit against its former chief Datuk Seri Ahmad Zubir Murshid and four other former senior personnel for restitution in the sum of at least RM338mil plus general and aggravated damages and other relief. in relation to the Qatar Petroleum Project (QP), the Maersk Oil Qatar Project (MOQ Project) and the project relating to the CONSTRUCTION [] of marine vessels known as the Marine Project.

Axiata Group Bhd has sold its entire 18.9% stake in Thai telecommunications group Samart Corp pcl for US$34.8mil (RM108.4mil) cash to the latter’s existing shareholder and founder, the Vilailuck family.

UEM Land and UMLand are to jointly develop the second mixed development project in Puteri Harbour with an estimated gross development value of RM670 million, and gross development profit of RM160 million. UEM Land, the master developer of Nusajaya, on Thursday signed a sale and purchase agreement (SPA) valued at RM49.6 million with Nusajaya Consolidated Sdn Bhd (NCSB), a 50:50 joint venture company of UEM Land and UMLand to acquire the parcel of land, Parcel Commercial South 3 (Parcel CS3) at Puteri Harbour.

Rubber glove manufacturer Adventa hit limit up yesterday on speculation that it could be a potential acquisition target by a US healthcare firm for the upstream of the integration of its healthcare business. It was also rumored earlier that the US firm had previously been preliminary talks with Top Glove but had decided Top Glove was too big a manufacturer which would be too expensive.  

Proton Holdings plans to produce a two-seater sports car in two years. Proton corporate planning general manager Badrulhisham Mohd Ghazali said the vehicle would not be a hatch-back type like Satria Neo but would look like the legendary Lotus.

Berjaya Sports Toto (BjToto) has had preliminary discussions internally on a possible corporate exercise which may result in the entry of a strategic investor, it told Bursa Malaysia yesterday. It said that while there had been initial contact with several potential strategic investors, no negotiation had been conducted with any strategic investor at this juncture, as internal discussions and planning were still ongoing.