FBMKLCI 1514.13 DJ-30.88 CRUDE OIL107.43 RM 2.994

CIMB Bank and CIMB Islamic Bank will maintain their base lending rate and base financing rate at 6.3%. The two banks backtracked on their decisions in less than 24 hours after having announced a rise of five basis points on lending rates on Wednesday.

TIME DOTCOM BHD [] is teaming up with Measat Broadcast Network Systems Sdn Bhd (MBNS) to provide IPTV and broadband services across the Klang Valley and Penang., TT dotCom Sdn Bhd (TTdC) had signed a collaboration agreement with MBNS, which takes effect from Dec 20, 2010 and continue for 10 years from April 1. The collaboration agreement supersedes and replaces the principal terms of collaboration signed by the parties on Dec 20, 2010.

Glomac’s net profit for the third quarter ended Jan 31, 2011 rose 55.2% to RM16.52 million from RM10.65 million a year earlier, mainly due to stronger contribution from higher margin projects such as Glomac Tower, Glomac Damansara and Glomac Cyberjaya. Revenue for the quarter surged 124% to RM176.53 million from RM78.76 million in 2010. Earnings per share were 5.65 sen, while net assets per share was RM2.01. Glomac proposed an interim dividend of 4.5 sen per share. For the nine months ended Jan 31, Glomac’s net profit rose to RM47.96 million from RM28.29 million a year ago, on the back of revenue RM443.74 million.

There has been no indication from the Employees Provident Fund (EPF) that it will pare down its stake in MBSB, said its CEO Datuk Ahmad Zaini Othman. MBSB targets to grow its personal loans to account for 50% of its overall loan portfolio from about 30% presently and this should translate to an additional RM5 billion in fresh disbursements.

Perisai revealed that if it acquired Garuda Energy, it would assume a debt of RM120mil of the latter. Analysts had earlier said it was difficult to ascertain if Perisai was paying a fair price for Garuda Energy, considering there were no details on the latter's debt levels. Perisai also said its total borrowings would balloon from RM251.2mil as at Dec 21, 2009 to RM600.4mil post-acquisition of Garuda Energy. Aside from the RM150mil debt at Garuda Energy, Perisai said it may raise another RM150mil via external borrowings to fund the cash consideration needed for buying Garuda Energy. The projected total borrowings also include a consolidation of borrowings of RM91.4mil from its January 2011 acquisition of another company, Intan Offshore Group

SAM Engineering & Equipment (M) Bhd has proposed to acquire an engine casing manufacturing division from Singapore Aerospace Manufacturing Pte Ltd for RM135mil and restricted issue of irredeemable convertible unsecured loan stocks (ICULS) of up to 33.75 million ICULS to minority shareholders of SAM.

Nam Fatt Corp Bhd, a Practice Note 17 (PN17) status company, has entered into a heads of agreement with Tan Sri Ta Kin Yan to undertake a series of proposals with the ultimate aim of regularising the financial condition of the company. “Ta will participate in the proposed regularisation of Nam Fatt subject to the terms and conditions of the heads of agreement and the terms and conditions of a definitive agreement to be agreed and executed between the company and Ta,” it said. Nam Fatt also appealed to Bursa Malaysia not to de-list its securities and to allow the company to submit its regularisation plan.

Handal Resources Bhd’s rights issue of 60 million ordinary shares together with 60 million free warrants have been oversubscribed by 76.26%. At the close of acceptance and payment of the rights issue and free warrants on March 25, applications were received for 105.76 million new rights shares together with warrants, an excess of 45.76 million shares, Handal said in a statement yesterday. The rights issue of 60 million ordinary shares priced at 52 sen per share was offered together with 60 million new free detachable warrants on the basis of two rights shares and two free warrants for every three existing Handal shares. Together with the rights issue, Handal also made a bonus issue of 10 million shares on the basis of one bonus share for every six right shares subscribed.

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 1520.09  DJ+81.13 CRUDE OIL104.50 RM 2.996

ECM Libra’s earnings surged 250% to RM45.84 million in the fourth quarter ended Jan 31, 2011 from RM13.12 million a year ago, boosted by higher brokerage and fee income and also from trading and investment securities. Revenue doubled to RM105.84 million from RM46.79 million a year ago  while earnings per share were 5.61 sen. It proposed dividend of 4.25 sen per share. For the financial year ended Jan 31, 2011, net profit rose 59.7% to RM65.21 million from RM40.81million in the previous financial year. Revenue rose 60.2% to RM214.64 million from RM133.96 million.

Khazanah Nasional Bhd and its advisers yesterday shortlisted three companies for the sale of its 32.21% stake in Pos Malaysia Bhd. According to sources, the three companies are DRB-HICOM (M) Bhd, Nationwide Express Courier Services Bhd and Scomi Group Bhd.

Ekovest Bhd has signed a joint-venture and shareholders’ agreement with Malaysian Resources Corp Bhd (MRCB) and KL Bund Sdn Bhd in relation to the River of Life project.

Kencana Petroleum Bhd has secured a RM216 million contract from Petrofac Malaysia Ltd for the CONSTRUCTION [] of well head platforms for the Cendor oil field off the coast of Terengganu.

PETRA PERDANA BHD [], Koh Pho Wat ceased to be a substantial shareholder after disposing of one million shares on Monday at 94.5 sen a share. His direct stake was reduced to 4.78% or 21.517 million shares.

In RHB CAPITAL BHD [], the Employees Provident Fund board disposed of three million shares on March 24, reducing its stake to 959.96 million shares or 44.58%.

FBMKLCI 1514.25 DJ-22.71 CRUDE OIL103.66 RM 2.9970

Boustead Holdings Bhd has proposed to pay RM100mil for a controlling stake in MHS Aviation Bhd, which has secured a RM3.1bil contract from Petronas Carigali to provide rotary wing aircraft, equipment and services.

Jaya Tiasa’s net profit rose 191% to RM39.89 million in the third quarter ended Jan 31, 2011 from RM13.67 million a year ago, boosted by higher prices for its timber and palm oil. Revenue rose 13.3% to RM237.64 million from RM209.68 million while earnings per share were 14.94 sen compared with 5.12 sen. Jaya Tiasa said the better results in revenue and pre-tax profit were mainly due to higher profit margin from logs sales with 36% increase in average selling price and 50 % increase in fresh fruit bunch (FFB) sales volume with 61 % improvement in average selling price. It said for the nine months, net profit jumped 425% to RM92.42 million from RM17.59 million while revenue rose 10.6% to RM615.39 million from RM556.38 million.

Silk Holdings Bhd registered a loss after tax and minority interest of RM3.2mil for the second quarter ended Jan 31 compared with profit after-tax and minority interest of RM970,000 recorded in the previous corresponding quarter.

SapuraCrest Petroleum Bhd posted a net profit of RM72.7mil for the fourth quarter ended Jan 31, which was 79.1% higher than RM40.6mil recorded in the same period last year.

BHIC’s associate Boustead Naval Shipyard Sdn Bhd (BNS) has been served with a writ of summons by Meridien Shore Sdn Bhd which is claiming RM49.5 million in losses. Meridien, which is in liquidation, was claiming RM49.57 million as specific damages, interest at 8% per annum, general damages, cost and other relief over the alleged losses suffered after Bank Kerjasama Rakyat Malaysia Bhd foreclosed on several parcels of its land in Johor.

Cypark Resources reported net profit of RM6.55 million in the first quarter ended Jan 31, 2011 on the back of RM42.61 million in revenue and expects to ride on the growing renewable energy business. Earnings per share were five sen When compared to the previous quarter, it said the revenue rose by 17% to RM42.61 million mainly due to the smooth progress of phase two of its projects. However, the 1Q gross profit margin fell 10.7% to 26.1% due to lower margins from engineering works. It said it planned to venture into the renewable energy business. The proposed renewable energy park project in Pajam would harness the potential resources at the landfill. The solar, landfill gas (biogas) and waste (biocell) would enable it to tap into scalable renewable energy which would generate up 10 MW.

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 1511.97 DJ+67.39 CRUDE OIL 105.45 RM 3.002

US stocks closed higher Wednesday led by industrial and mining companies, as traders eyed the knock-on effects of higher metal and commodity demand and Japanese reconstruction.

Integrax Bhd co-chief executive Harun Halim Rasip has disposed of his entire equity interest in the port management company to TNB for RM106.46 million. TNB said the purchase price represented a premium of 13.5% to the five-day weighted average market price of Integrax shares up to and including March 18, of RM1.41. “TNB intends to fund the purchase consideration entirely through internally generated funds,” it said.

Hai-O’s earnings fell 65% to RM6.34 million for the third quarter ended Jan 31, 2011 from RM18 million a year ago as revenue shrank following lower sales from its multi-level marketing (MLM) division. Revenue fell to RM57.60 million from RM131.28 million a year ago due mainly due the poorer performance of the MLM division, which is its principal subsidiary.

Axiata Group Bhd has imposed a 12-month suspension on Alcatel-Lucent group (ALU) including its Malaysian operations which would bar it from any new bids for contracts, but it would continue all existing contracts. Axiata said on the suspension would include suspension of the ALU group from any invitations to submit any new tenders, entry into new contracts or continuing with any negotiations that are currently being undertaken with any group member.

FBMKLCI 1509.10 DJ-17.90 CRUDE OIL 105.07 RM 3.0040

Oil prices pushed above US$105 per barrel Tuesday, as traders focused on a series of international crises that could tighten global supplies at a time when consumption is expected to increase. 

Benalec is standing out from its CONSTRUCTION [] peers and rapidly gaining investor attention. Now, the company is also shaping up to be a major landowner and developer, as it will receive some 177.3 acres of land in Melaka in exchange for reclamation works.

Ramunia plans to venture into the offshore oil and gas business in Malaysia and the region via a tie-up with Drydocks World of Dubai. It sealed an agreement for a floating production, storage and offloading (FPSO) deep producer vessel, known as the MT Laurita. The arrangement would enable Ramunia to venture into the field of engineering, procurement, construction, installation and commissioning. It plans to provide the full offshore production facilities and to penetrate into the growing offshore floating facilities business within the local and regional upstream oil and gas sector.

Berjaya Land posted net profit RM34.91 million for its third quarter ended Jan 31, 2011 compared to net loss RM8.57 million a year ago, due mainly to higher profit contribution from the gaming business operated under BERJAYA SPORTS TOTO BHD [] (BToto). Revenue declined to RM990.59 million from RM993.96 million. Earnings per share were 0.70 sen from loss per share of 0.17 sen, while net assets per share was RM1.04. For the nine months ended Jan 31, BLand’s net profit jumped to RM85.13 million from RM35.42 million, on the back of revenue RM2.99 billion.

Leader Universal’s joint venture to supply cable and cable related equipment in Saudi Arabia has been called off by mutual agreement with its JV partners -- Al-Ghazalah Development Co (Al-Ghazalah) and Suasana Daya Sdn Bhd. The parties had on July 8, 2009 entered into an agreement to set up the JV to sell and supply cables and cable related accessories and equipment with customers in Saudi Arabia, as well installation of cables and turnkey projects and supply and/or construction of power transmission, distribution, substation and related projects in that country.

CIMB Group Holdings Bhd has sought another six months until Oct 6 to complete the proposed dual listing on the Stock Exchange of Thailand. The application has been submitted to the Securities Commission and is pending its decision.

With the Sarawak state assembly dissolved on Monday,speculations on the upcoming 10th state election on April 9 will boost politically-and state-linked stocks, namely those in the timber, construction and oil and gas sectors. This time, the sentiment will be further underpinned by the Sarawak Corridor of Renewable Energy (SCORE) programmes.aption

FBMKLCI 1508.88 DJ+178.01 CRUDE OIL 103.12 RM 3.0135

Salcon Bhd’s wholly owned subsidiary, Salcon Changzhou (HK) Co Ltd, has entered into a concession agreement and an asset transfer agreement with Changzhou City Tian Ning District Diao Zhuang Street Office and Changzhou Southeast Industrial Wastewater Treatment Plant respectively to acquire, upgrade, operate and maintain the Southeast Industrial Wastewater Treatment Plant (SIWTP)

Civil engineering firm Benalec Holdings Bhd has been awarded a contract worth RM37mil by Glenmarie Cove Development Sdn Bhd to undertake earthworks and other associated work in Klang

Australia and New Zealand Banking Group Ltd (ANZ) may raise its equity interest to controlling stake in four of the Asian banks it has stakes in, including Malaysia's AMMB Holdings Bhd. However, AMMB chairman and major shareholder Tan Sri Azman Hashim said in Tuesday's newspaper report he has no plans to sell his stake. He owns 16.7% while ANZ owns 23.8%.

Harbour-Link’s unit Eastern Soldar Engineering & CONSTRUCTION [] Sdn Bhd has accepted a letter of intent from Chiyoda Sarawak Sdn Bhd for a RM29 million general civil work contract for the Tokuyama Malaysia Project. The contract comprised the general civil works Package SP 4C – general utility area at the Samalaju Industrial Park in Bintulu, Sarawak.

Berjaya Food Bhd, Lembaga Tabung Angkatan Tentera has ceased to be a substantial shareholder after it disposed of 7.97 million shares on March 14. LTAT was allotted 10 million shares or 7.07% when BFood was listed on Feb 14 as the Bumiputra allocation by MITI, according to the company filing.

ATLAN HOLDINGS BHD [] expects to gain RM16 million after the sale of two pieces of land along Jalan Batu Ferringhi, Penang for RM33 million cash to Glass Bay Sdn Bhd. It said the RM16.47 million was arrived at after deducting estimated income tax of RM5.49 million, land cost of RM9.19 million, development cost of RM1.84 million.

Perisai, Singapore’s Mercury Pacific Marine Pte Ltd sold one million shares on March 18 and reduced its stake to 158.26 million shares or 23.18%.

Public Investment Bank Berhad ceased to be substantial shareholder of DPS Resources Bhd after it disposed of 13.17 million shares on March 13.

FBMKLCI 1503.89 DJ+83.93 CRUDE OIL 104.11 RM 3.011

The Edge FinancialDaily reported in February that CMSB surged 34% in three months leading to the dissolution of the state assembly on April 28, 2006. The report, quoting Maybank Investment Bank Research, highlighted that Naim advanced 13% while Ta Ann Holdings Bhd rose 18% during the same period. Zecon Bhd gained 10% while Encorp Bhd rose a staggering 67%.

Hock Seng Lee Bhd (HSL), meanwhile, climbed over two months to its 52-week high of 69.5 sen on March 17, 2006 — a significant increase from its 52-week low of 51.9 sen on Jan 25, 2006.
Naim has been profitable over the last three years while CMSB is viewed to be at the forefront of Sarawak’s business landscape.

Naim has been profitable over the last three years while CMSB is viewed to be at the forefront of Sarawak’s business landscape.

Another major catalyst for the Sarawak-based counters is the Sarawak Corridor of Renewable Energy (SCORE) and the favourites being CMSB, Naim, HSL, KKB ENGINEERING BHD [], Dayang and Leader Universal Bhd.

Some of the high-profile projects planned under SCORE include an aluminium smelter expected to cost between RM7 billion and RM10 billion, Tatau pulp and paper factory (RM3 billion) and a zinc electro refinery (RM1.3 billion).

FBMKLCI 1492.09 DJ+161.29 CRUDE OIL 103.86 RM 3.036

Boustead Holdings Bhd will see some steady recurring income from Pharmaniaga Bhd now that the latter has entered into a 10-year concession agreement with the Health Ministry to supply medical products to Government-owned hospitals.

Sabah-based downstream timber manufacturer Focus Lumber Bhd’s public issue of 6.9 million new shares under its planned listing exercise on Bursa Malaysia has been fully underwritten by Bank Islam and BIMB Securities.

Adhesive and sealant manufacturer OCI Bhd’s entire issued and paid-up capital would be removed from the official list of Bursa Securities with effect from Monday.

Karambunai Corp Bhd’s wholly-owned subsidiary, Karambunai Resorts Sdn Bhd, has signed a joint venture agreement with China Central Asia Group Co Ltd (CCAG) to develop the RM1bil first phase of the Karambunai Integrated Resort City (KIRC) in Kota Kinabalu.

SP Setia Bhd’s earnings rose 62.41% to RM62.03mil for the quarter ended Jan 31 versus a year earlier, on property development activities in the Klang Valley, Johor Baru and Penang.

Kencana Petroleum Bhd’s net profit for the second quarter ended Jan 31, 2011 grew by 56.69% compared with the corresponding quarter a year ago to RM50.60mil largely due to progress achieved for contracts in hand and better management of relevant costs, as well as contributions from drilling services.

Department store operator Parkson Holdings Bhd has entered into an “exclusivity agreement” with PT Tozy Bintang Sentosa for a period of 90 days for the purpose of developing and expanding in Indonesia.

Faber Group proposed to cancel 75 sen of the existing par value of its RM1 share in a move to reduce its accumulated losses. Based on its paid-up share capital as at Dec 31, 2010 of RM363.0 million, it said the credit arising from the reduction of the par value would be about RM272.3 million.

Cypark plans to invest RM94.29 million to build a 10Mw renewable energy plant with grid connection, at the RE Park in Pajam. The project is expected to generate gross national income (GNI) of RM12.16 million each year for the next 21 years, totaling RM255.36 million.

FBMKLCI 1492.44 DJ-242.12 CRUDE OIL 98.56 RM 3.02

Top Glove Corp Bhd’s net profit fell 63.9% to RM25.4mil for the second quarter ended Feb 28 against RM70.5mil a year ago due to persistently high latex prices and the continued weakening of the US dollar. The glove maker said the time lag in passing on the higher costs to its customers had also affected the group’s profit margins. “The decline in performance compared with last year was also due to the exceptionally high sales volume experienced last year during the H1N1 virus outbreak,” Top Glove said in the notes accompanying its financial results.

Pharmaniaga Bhd’s wholly owned subsidiary Pharmaniaga Logistics Sdn Bhd has entered into a concession agreement with the Government for the right and authority to purchase, store, supply and distribute approved products to public sector customers.

SEGi has been appointed by the government to lead the development of integrated early child care education (ECCE) in Malaysia under the education National Key Economic Area (NKEA). With the appointment, SEGi will lead the initiative in training and developing high quality early childhood and childcare practitioners.

FBMKLCI 1484.14 DJ-137.74 CRUDE OIL 99 RM 3.005

Oil prices fell sharply Tuesday on deepening fears about Japan's economy after its nuclear crisis worsened following a devastating earthquake and tsunami. Potentially dangerous levels of radiation have been reported leaking from a crippled nuclear complex in the disaster area. More than 10,000 people are thought to have died after the earthquake and tsunami hit Japan on Friday. Investors worried about diminished demand for oil and other products in Japan, the world's third-largest oil importer. However, Wall Street analysts expect that Japan will eventually increase imports of oil, coal and natural gas.

BJToto net profit for the third quarter ended Jan 31, 2011 rose 17.4% to RM114.87 million from RM97.85 million a year ago, driven by an increase in revenue, mainly contributed by Berjaya Philippines Inc. group. BToto declared a third interim single tier exempt dividend of 6 sen per share in respect of the financial year ending April 30, 2011.

Brem's 75%-owned subsidiary Harmony Property Sdn Bhd is acquiring two parcels of industrial land in Petaling Jaya from ROCA Malaysia Sdn Bhd for RM48 million cash as part of its plan to accumulate strategic land bank. Brem said the acquisition represented an opportunity for the group to accumulate strategic land bank at a reasonable price as the PROPERTIES [] are situated in a prime location with positive commercial property development potential within the popular Petaling Jaya area.

GD Express could be in focus after Singapore Post Ltd raised its stake in the company to 27.08% from the initial 4.98%, positioning itself as a strategic investor in the Malaysian express delivery and logistics services provider. Singapore Post on Tuesday acquired 56.84 million shares — representing a 22.1% stake, in GD Express — for a total purchase consideration of RM45.47 million cash or 80 sen a piece.

MALAYSIAN AIRLINE SYSTEM BHD and AIRASIA BHD, meanwhile, could see some selling pressure following HwangDBS Vickers Research lowering its target price for the two stocks on Tuesday. The research house said it expected high oil prices to drag the airlines' earnings.

TAN Sri Vincent Tan Chee Yioun's plan to buy back his company Berjaya Retail Bhd, barely seven months after listing it, has got most people perplexed. Why would someone privatise a company so soon after listing it? If the deal goes through though, this would most likely mark the fastest exit of a listed company from the stock exchange. It isn't entirely clear what the rationale of the privatisation is, although indications are that he could be driven by the “undervaluedness” of his company. In its letter to Berjaya Retail's board, Tan's vehicle undertaking the offer, Premium Merchandise Sdn Bhd, pointed out that both the company's stock and irredeemable convertible preference shares (ICPS) “have not performed well” since their listing. This indicates that Tan may be privatising the company as the market has not valued it sufficiently.

FBMKLCI 1494.42 DJ-51.24 CRUDE OIL 102.23 RM 3.007

Timber companies will benefit from the surge in demand from Japan as post-construction activities in the country take place following the devastating earthquake and tsunami that occurred there. However, the quantum of demand from the surge for timber products is hard to quantify at the moment. Malaysia is already the largest exporter of timber to Japan and imported timber products like plywood easily make up more than half of timber consumption in the country, according to analysts. In a timber sector update yesterday, RHB Research said Malaysian companies were likely to benefit; specifically WTK Holdings Bhd and Ta Ann Holdings Bhd given their focus on the Japan market which constituted 80% to 90% of their timber product sales.

George Kent (M) Bhd plans to invest up to RM100mil in the next three to four years to expand its meter and original equipment manufacturing (OEM) businesses. Chairman and CEO Tan Sri Tan Kay Hock said the company had embarked on a RM50mil plan to upgrade its manufacturing facilities at its plant in Puchong, Selangor to accommodate higher sales in the meter and OEM businesses.

Berjaya Retail Bhd share price soared by 21.5 sen to 64 sen yesterday after it announced that it would be taken private by its major shareholder, Premier Merchandise Sdn Bhd, controlled by Tan Sri Vincent Tan Chee Yioun.

Johor Corp (JCorp) and its 55% subsidiary Kulim (M) Bhd have denied the claim made by Tan Sri Muhammad Ali Hashim that there were plans for Kulim to be sold. Both companies said that they were not aware of any such proposal. Kulim, in an announcement to Bursa Malaysia, said it “was not the source of the statement that appeared in the articles in local newspapers”.

Cocoaland Holdings Bhd said its wholly-owned unit CCL Food & Beverage Sdn Bhd entered into a S&P agreement yesterday with Riviera Properties Sdn Bhd to buy freehold industrial land in Rawang for RM7.85mil.

Standard & Poor’s Ratings Services has lowered its long-term corporate credit rating on Ranhill Bhd to B minus from B due to its weak liquidity and exposure in the political instability in Libya. Due to the same reasons, it also lowered the issue rating on US$220mil, 12.5% senior unsecured notes due October, issued by Ranhill (L) Ltd to CCC plus from B minus. Ranhill guaranteed the notes. Both the ratings remained on CreditWatch, where they were placed with negative implications on Dec. 30, 2010, it said in a statement.

FBMKLCI  1508.88 DJ-228.48 CRUDE OIL 102.82 RM 3.00

Uncertainty in the economic recovery and higher fuel hedging entry cost are some of the reasons why Malaysia Airlines (MAS) drastically reduced its fuel hedging levels this year to 25% from 60% last year. “The hedging range in the airline industry has been lower since 2008 due to the uncertainty in economic recovery, fuel price volatility and the higher fuel hedging entry cost,” MAS chief financial officer Mohd Azha Abdul Jalil told StarBiz in an email response.

Ahmad Zaki Resources Bhd has received a letter of award from the Public Works Department to complete the remaining works of the second phase of the East Coast Expressway.

KNM Group Bhd has set an internal target of potential earnings before interest, tax, depreciation and amortisation (EBITDA) of RM363 million for FY11 against expected total revenue of RM2.4 billion. It said the potential EBITDA for FY12 was RM564 million on the back of an expected revenue of RM3.4 billion.

HONG LEONG BANK BHD [] has received approval for its proposed issue of up to US$300 million senior unsecured bonds from the Securities Commission. “The proceeds from the issuance of the senior bonds will be used for working capital and general banking purposes,” it said.

GEFUNG HOLDINGS BHD [] is making its foray into Indonesia and is planning to undertake a mixed development property project in east of Jakarta. Gefung said on Thursday, March 10 it had signed an MoU with PT Greenworld Development to undertake the project totaling 50.74 acres east of Jakarta.

FBMKLCI 1517.66 DJ +124.35 CRUDE OIL 104.62 RM 2.999

Malaysia has unveiled investments worth more than RM2bn across nine private projects spanning the energy, agriculture and electronics to healthcare sectors to boost income and create jobs. Among others, the Government announced a RM600m development of seaport and resort in Perak; construction of chemical
plants, facilities for advanced lightning and a renewable energy park; a RM1m integrated oil and gas hub; as well as public private partnership to cultivate fragrant rice. In addition, US giant General Electric is partnering Malaysian telecommunication provider Redtone International to invest in a teleradiology hub while QAV Technologies SB will develop a light emitting diode certification centre. FaberGroup has been roped in to spearhead the development of an energy-saving system.

Cypark Resources Bhd, a solid waste management company is investing RM94.29mil to build a renewable energy park (RE Park) with grid connection on a 26ha remediated landfill in Pajam, Nilai.

Mudajaya has proposed a corporate exercise involving a bonus issue of up to 137.08 million new shares and the setting up of an employees’ share option scheme (ESOS). The bonus issue would on the basis of one bonus share for every three shares held.

KESM net profit for the second quarter ended Jan 31, 2011 rose 27.3% to RM3.31 million from RM2.6 million a year earlier due to higher revenue arising from stronger demand for burn-in and testing services. Revenue for the quarter rose to RM63.66 million from RM55.89 million. Earnings per share was 7.70 sen while net assets per share was RM5.14. For the six months ended Jan 31, KESM’s net profit rose to RM10.34 million from RM5.47 million last year, while revenue increased from RM127.23 million from RM103.14 million.

The share price of Berjaya Food (BFood), which operates the Kenny Rogers Roasters (KRR) chain, fared well on its maiden trading day. The stock opened on a slight premium of 2.5 sen over its offer price of 51 sen and climbed steadily to a day’s high of 64.5 sen. It closed at 63.5 sen, 12.5 sen or nearly 25% higher, against its offer price. Some 35.865m shares were traded, making it the second most active counter on Bursa. BFood is among the best performing IPOs on debut day.

Financially distressed air cargo operator Transmile Group Bhd said yesterday it would continue to engage with lenders to, if possible, finalise a debt restructuring proposal, and to focus on the completion of the proposed disposal of its four MD-11F aircraft. This is expected to significantly pare down its outstanding debt obligations. Its shares had been suspended since last Thursday as it failed to submit a regularisation plan to Bursa Malaysia. As at Dec 31, 2010, Tranmile’s balance sheet showed that it had debts totalling RM531.5mil.

MUHIBBAH Engineering (M) Bhd’s earnings may at least double this year on rising construction orders, according to UOB-Kay Hian Holdings Ltd. The Malaysian builder has secured at least RM480 million of construction orders so far this year, exceeding 2010’s RM458 million worth of jobs clinched, Vincent Khoo, an analyst at UOB-Kay Hian, wrote in a report today.

FBMKLCI 1515.74 DJ-79.85 CRUDE OIL 104.99 RM 2.99

New stock listing

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

1.    5196                BJFOOD            0.51                         0.21                 2.55

Local airlines, along with other carriers worldwide, will see higher fuel costs eat into their first-quarter profits, as political unrest in Libya continues to push oil prices to new highs not seen in over two years.

Crude for April delivery was quoted at US$106.45 a barrel in electronic trading on the New York Mercantile Exchange yesterday, with the jet fuel price hitting close to US$130 per barrel.

DRB-HICOM Bhd’s wholly-owned subsidiary DRB-Hicom Defence Technologies Sdn Bhd (Deftech) has received a contract worth RM7.55bil from the Malaysian Government to supply armoured-wheeled vehicles (AWV). DRB-HICOM told Bursa Malaysia yesterday that Deftech had accepted a letter of award from the Government to design, develop, manufacture, commission, supply and deliver 257 units of 12 variants of the 8x8 AWVs . The contract is for a period of seven years beginning 2011.

Trading in the shares of Berjaya Retail Bhd was suspended yesterday pending a material announcement.

The company yesterday requested for a suspension of trading of its securities for three market days, from 9am on Monday until 5pm tomorrow.

Multi Sports Holdings Ltd plans to sponsor a Taiwan depository receipt programme (TDR) that would represent up to 67.50 million new shares of 5 US cents each or 15% of its current paid-up share capital.

The company told Bursa Malaysia yesterday that it would issue up to 67.50 million new shares at an issue price to be determined later, which would be the underlying shares for the programme.

Malaysian Merchant Marine Bhd (MMM) is facing a possible de-listing after failing to submit its regularisation plan to the Securities Commission or Bursa Malaysia Securities for approval within the stipulated timeframe.

Sunway Holdings Bhd’s unit Sunway Construction Sdn Bhd (SunCon) has secured a contract worth RM74.1mil from Bio-XCell Sdn Bhd to undertake the engineering, procurement, construction and commissioning of a central utilities facility at Biotechnological Park Bio-XCell in Nusajaya, Johor.

The Edge FinancialDaily reports that while investors may have turned sceptical towards loss-making WiMAX player Packet One Networks Sdn Bhd (P1) (which is under Green Packet Bhd), its new strategic partner SK Telecom (SKT) believes there is much value in P1's wireless business as a launchpad for SKT's aspiration to expand regionally in Southeast Asia.

SEGI International Bhd (SEGi) group managing director Datuk Clement Hii Chii Kok has emerged as the second largest shareholder of the company after he acquired 30.3 million shares on Monday, raising his stake to 20.61%.

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 [].

FBMKLCI 1506.88 DJ+191.40 CRUDE OIL 101.89 RM 3.069

KNM Group Bhd said it has year-to-date secured new orders amounting to RM693 million, underpinned by the bullish sentiment in the global oil and gas industry globally as crude oil surges to record highs. The current order book of KNM stood at RM6.4 billion and the backlog at RM5.4 billion. KNM said its tender book was RM17 billion, which it said had significantly improved compared with the trough of the sub-prime crisis which was at RM10 billion.

Malaysia is open to Australia & New Zealand Banking Group doubling its stake in Malaysian lender AMMB Holdings to 49 percent in a move that could encourage more foreign investment, Prime Minister Datuk Seri Najib Tun Razak was quoted saying by Reuters in Melbourne.

PPB Group Bhd plans to double its flour production capacity in Indonesia and Vietnam within the next two years to 2,800 tonnes a day. It plans to invest RM140 million. Meanwhile, Wilmar International , the world's largest listed palm oil company, plans to enter Indonesia's consumer flour market, possibly in 2012, which will intensify competition in the country. PPB derives a significant chunk of its earnings from Wilmar.

Bank Negara Malaysia has not allowed the Employees Provident Fund Board to hold more than 45% of the paid-up share capital of RHB Capital Bhd. Hence, EPF’s irrevocable undertaking to subscribe under the rights issue shall be for a minimum of 45% of the total rights shares.

FBMKLCI 1499.28 DJ+8.78 CRUDE OIL 102.74 RM 3.08

Asian markets retreated yesterday following gains in crude oil price as unrest in the Arab world triggered fresh protests in Iran. Nymex crude oil, which settled at US$99.63 a barrel on Tuesday, rose above US$100 per barrel early yesterday following reports of clashes between Iranian security forces and supporters of opposition leaders Mir Hossein Mousavi and Mehdi Karroubi, who were arrested last week together with their wives.

Kencana and Dialog but AirAsia and MAS could see downside pressure due to the crude oil price and following the International Air Transport Association’s (IATA) move to downgrade its airline industry outlook for 2011 to US$8.6 billion from the US$9.1 billion projected in December 2010.

Petroliam Nasional Bhd (Petronas) posted a RM10.1bil jump in net profit for its third quarter to RM23.7bil owing largely to proceeds from the listing of two subsidiaries on Bursa Malaysia but indicated high annual dividends to the Government will need to be cut in the future.

MMC Corp Bhd and Gamuda Bhd have entered into a shareholders agreement to regulate their rights and liabilities as shareholders of a company that will act as the project delivery partner for the Klang Valley Mass Rapid Transit (MRT) project.

Evermaster Group Bhd’s removal from the official list of Bursa Malaysia Securities Bhd will be deferred until further notice by Bursa Malaysia.

Transmile Group Bhd has submitted an application to Bursa Malaysia to appeal against the latter's decision to delist the company, and to seek an extension of time to submit its regularisation plan. Meanwhile, the trading of Transmile shares will be suspended effective from March 2011 but the removal of the securities from the official list of Bursa Securities on March 7 will be deferred, pending the decision on the appeal.

Property developer SP Setia Bhd has bought 108.5ha of prime freehold land in Cyberjaya’s flagship zone for RM420.4mil from Setia Haruman Sdn Bhd.

Palm-to-property conglomerate Sime Darby Bhd said yesterday it has not entered into any agreement to invest in Cameroon oil palm plantations. The company was responding to a media report which said it was considering a US$2.5bil plantation expansion deal in the African nation.

Proton Holdings Bhd's endeavour to incorporate select technologies and manufacturing expertise from Nissan Motor Co could lead to potential cost savings in capital expenditure (capex) and research and development (R&D) for the national carmaker. OSK Research said the memorandum of understanding (MoU) signed on Tuesday between Proton and Nissan to conduct feasibility studies to use the latter's platform and power train for upcoming Proton models would augur well for the national car company. “We believe that using Nissan's versatile platform and power train for Proton's upcoming global compact car will lighten the national carmaker's capex burden, given that such an endeavour can be costly (at least US$150mil to US$200mil),” OSK said in a report yesterday.

Axiata could be in focus after Celcom posted net profit after tax and minority interests of RM1.9 billion for the financial year ended Dec 31, 2010, which was an increase of 23% on-year. Its revenue rose 8.3% to RM6.85 billion. Celcom had allocated RM1 billion as capital expenditure to enhance network coverage capacity and quality of which 60% is for data and 40% for voice.

FBMKLCI 1502.24 DJ- 168.32 CRUDE OIL 100.28 RM 3.083

Guan Chong Bhd is allocating about RM120 million to build its cocoa-grinding plant in Batam, Indonesia. The plant, with an annual capacity of 120,000 tonnes, will more than double the company's grinding capacity to 200,000 tonnes from 80,000 tonnes.

Alam Maritim Resources Bhd has been awarded an extension of contract to provide one accommodation work barge for about RM70.52 million. The contract extension is for 21 months from April 12, 2011 to January 2013, with a further option to extend for an additional year. Alam Maritim said the contract sum of about RM70.52 million included costs of catering, lodging and crane hire.

Mulpha International Bhd, which reported a 10-fold increase in its net profits for its financial year ended Dec 31, 2010 (FY10), will likely be paring down its debts by at least RM300mil this year, according to executive chairman Lee Seng Huang. He says Mulpha will also be continuing with share buybacks. Its latest financial results show that Mulpha has a cash and bank balance of some RM372.6mil. In addition, Mulpha will be receiving RM327mil by end-March from the sale of its Hilton Melbourne Airport Hotel, potentially raising the company's cash levels to around RM700mil or 56% of its total debt levels of RM1.24bil.

Cypark Resources Bhd, whose shares rallied on Tuesday, could see continued trading interest as investors ride on its solid waste management prospects. Cypark, had in its fourth quarter ended Oct 30, 2010 reported net profit of RM5.38 million while for the financial year, its earnings were RM20.42 million. The company had said in December, 2010 that it expected its revenue to increase as the government emphasised on solid waste management under the National Strategic Plan for Waste Management and related regulations/ initiatives.

Proton Holdings Bhd shares have fallen over the past two trading days after reporting losses due to its involvement to restructure Lotus Group International and higher branding costs. Proton adviser and former prime minister Tun Dr Mahathir Mohamad says the national car maker has enough funds to inject into Lotus if necessary.mon Tuesday, Proton had signed a Memorandum of Understanding with Nissan Motor Co. Ltd to pave the way for feasibility studies to be conducted on specific areas of cooperation between the Parties including the potential use of Nissan's platform and powertrain.