FBMKLCI 1503.99 DJ-10.60 CRUDE OIL 87.61 RM 3.07

Dayang Enterprise Holdings Bhd’s (DEHB) wholly owned subsidiary Dayang Enterprise Sdn Bhd (DESB) has received a contract worth RM802mil from Petronas Carigali Sdn Bhd.

MTD Capital Bhd's shares staged a rally after a consortium of firms announced that it has raised its takeover offer for the company to RM11 per share from RM9.50 previously. The counter closed 42 sen higher at RM10.94 to become the second biggest gainer of the day. Its intra-day high of RM10.96 was also its all-time high. Year-to-date, the stock has gained more than 13%.

Contrary to wide market expectations, Multi-Purpose Holdings Bhd (MPHB)'s plan to relist its numbers forecast operator (NFO) Magnum Corp Bhd has been put on hold, as the company shifts its focus to reformatting its business structure. “There is no plan to relist Magnum for the time being,” MPHB managing director Datuk Surin Upatkoon said in reply to a StarBiz query. MPHB shares resumed trading yesterday after being suspended since Monday. The counter ended the day at RM2.67, a tad lower than its previous close of RM2.68.

Integrax  is selling the entire 70.31% stake in its Indonesian subsidiary PT Indoexchange Tbk to Equatorex Sdn Bhd, a company controlled by Integrax's chairman and joint CEO Harun Halim Rasip.

EPIC reported earnings of RM14.87 million in the fourth quarter ended Dec 31, 2011, a 55.4% increase from the RM9.56 million a year ago underpinned by an increase in port operations and oil and gas activities. Revenue rose 7.6% to RM53.31 million from RM49.54 million a year ago. Earnings per share were 8.77 sen compared with 5.65 sen a year ago. For the financial year ended Dec 31, 2010, EPIC’s earnings rose 25% to RM52.84 million from RM42.14 million while revenue climbed 28% to RM235.136 million from RM183.46 million. It has cash of RM98.58 million as at Dec 31, 2010 but its trade and other receivables were RM57.56 million.

FBMKLCI 1536.07 DJ+6.74 CRUDE OIL 86.80 RM 3.003

Multi-Purpose Holdings Bhd (MPHB) is a step closer to the possible relisting of Magnum Corp Bhd on Bursa Malaysia, following a deal that would give it full ownership of the gaming outfit. In an announcement to Bursa Malaysia yesterday, MPHB said it had entered into a memorandum of understanding (MoU) with several parties to acquire the balance 49% stake it did not already own in Magnum Holdings Sdn Bhd, the investment holding firm whose subsidiaries are principally involved in the operation of four-digit numbers forecast betting games.

Green Packet Bhd has signed an agreement with Time Warner Cable, the second largest cable operator in the United States, to provide its next generation connection management solutions. Time Warner Cable would use customised versions of Green Packet's Intouch connection manager, Intouch reporting server and Intouch update server for its Windows and Mac platforms, it said in a statement.

MRCB’s earnings surged 230% to RM41.50 million for the fourth quarter ended Dec 31, 2010 from RM12.41 million a year ago, boosted by improved profit margin and property development projects. Revenue rose 53.7% to RM433.12 million from RM281.67 million. It proposed a dividend of 1.5 sen per share. For the financial year ended Dec 31, 2010, its earnings jumped 94% to RM67.27 million from RM34.62 million. Revenue rose to RM1.967 billion from RM921.62 million. Its cash and cash equivalents rose to RM487.27 million from RM232.57 million.

MTD Capital’s subsidiary MTD Manila Expressways Inc can proceed with the implementation of its 290% toll rate hike along the South Luzon Expressway in the Philippines after a motion seeking to restrain the hike was rejected by the Philippines Supreme Court. Its subsidiary’s legal counsel had on received a resolution dated January 11 from the Court which denied a petition for the issuance of a temporary restraining order (TRO) and/or status quo to restrain the implementation of the toll rate hike of 3.024 pesos or 22 sen per km initial toll rate hike.

Coastal Contracts’ units have secured contracts for the sale of 12 vessels for an aggregate value of RM268 million, increasing its total sales to RM760 million up to 2012.The contracts were for the sale of seven offshore support vessels (OSV), three tugboats and two oil barges for an aggregate value of approximately RM268 million. Including the new contracts, Coastal Group now has about RM760 million worth of vessel sales orders awaiting delivery to customers up to 2012.

Genting Bhd saw RM1.26 billion erased from its market capitalisation on Wednesday, Feb 9, extending its three-day losses on concerns of a decline in VIP customers to Resorts World Sentosa integrated resorts. Genting fell 34 sen to RM10.40, the lowest since Dec 20, with 11.98 million shares done.

Tanco Holdings Bhd said it was unaware of any development that has led to the high daily trading volume of its shares except for an ongoing negotiations with Lehman Brothers Commercial Corp Asia Ltd. On Jan 17, a local daily reported that Tanco had proposed a debt settlement agreement with Lehman.

In a reply to Bursa Malaysia query on the unusual market activity, Tanco said it was unable to disclose the significance of the agreement. “However, should we reach an agreement with Lehman, we will make the appropriate announcement to Bursa.”

FBMKLCI 1539.55 DJ+71.52 CRUDE OIL 87.48 RM 3.003

Multi-Purpose Holdings Bhd (MPHB) will be announcing a major acquisition today, reliable sources said, although speculation is rife that the company could also be announcing the re-listing of its gaming subsidiary Magnum Corp Sdn Bhd. 

Tabung Haji, Mara in medical ventureIt is understood that Lembaga Tabung Haji and Majlis Amanah Rakyat (Mara) are expected to end up with a total of 45% equity stake in the newly-established Academic Medical Centre Sdn Bhd (AMC) that has a tie-up with world renowned Johns Hopkins Medicine International and Royal College of Surgeons (RCSI) in Ireland to offer courses at the soon to be set up RM2bil Perdana University Graduate School. Tabung Haji is likely to end up with 30% stake while Mara 15% in AMC. The remaining 55% equity will be held jointly by two companies controlled by businessman Tan Sri Dr Mohan Swami (pic). The two companies are Turiya Bhd and Chase Perdana Sdn Bhd.

On Tuesday, HWGB and its warrants, which fell in active trade after surging on Monday, accounted for more than 115 million units transacted. HWGB fell 15.5 sen to 77.5 sen and HWGB-WB lost 15.5 sen to 74 sen as traders sold on news about its proposed tin mining operations.

PJI secured a RM55.89-million sub-contract from IJM CONSTRUCTION [] Sdn Bhd for a college in Kedah. PJI said its unit P.J. Indah Sdn Bhd had received the letter of award from IJM for the mechanical and electrical services of Kolej Universiti Insaniah’s permanent campus.

KENCANA PETROLEUM BHD []’s 166.69 million new shares were placed out at RM2.38 each and raised gross proceeds of RM396.7 million. The issue price of RM2.38 was a discount of about 1.65% to the closing market price of RM2.42 on Jan 25.

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.