Stocks In Focus MY (M’sia IPI, MRC, Minetech) – 12/11/14
MRCB, MINETEC,
Malaysia September IPI Up 5%
Malaysia’s industrial production index (IPI) grew 5.4 percent year-on-year in September, underpinned by growth in all its indices.
The mining segment led the way with a 7.1 percent rise, electricity up 6.5 percent while manufacturing activities rose 4.7 percent.
Sub-segments that contributed to the increase included electrical and electronics products; non-metallic mineral products, basic metal and fabricated metal products as well as food, beverages and tobacco.
Significance: However, on seasonally adjusted terms, September’s IPI fell 0.2 percent month-on-month due to weaker performances in the manufacturing and electricity indices.
MRC To Build RM115m Overhead Bridge
Malaysian Resources Corporation (MRC) will construct a RM115 million overhead bridge to connect Jalan Klang Lama with the New Pantai Expressway.
The project, estimated to last for two years, is expected is benefit about 80 percent of the personal vehicles of Seputeh and Lembah Pantai residents as well as 20 percent of public vehicles.
Additionally, MRC would also develop a 7-hectare project, called Nine Seputeh, comprising 2,000 service apartments, commercial space, a retail mall and an education institution with a gross development value of RM2.6 billion.
Significance: As of 11 November, MRC’s construction division’s order book stands at about RM5 billion and is in midst of bidding for multiple government and private sector projects.
Minetech Forays Into Property Development
Minetech Resources has proposed to acquire Glamour Heights for RM27.5 million, giving it access to two ongoing property development projects in Perak, Malaysia.
The counterparty of the sale, a relative of Minetech’s major shareholder, has provided a profit guarantee of RM27.4 million for the projects, with a discount in acquisition valuation over actual estimated profits.
The purchase consideration will be satisfied either with issuance of new Minetech shares or cash, or a combination of both.
Significance: Minetech expects a lift in bottom line once the projects are completed and sold following a net loss of RM0.6 million in 1H14, compared to a net profit of RM1.6 million a year earlier.
http://www.sharesinv.com
MRCB, MINETEC,
Malaysia September IPI Up 5%
Malaysia’s industrial production index (IPI) grew 5.4 percent year-on-year in September, underpinned by growth in all its indices.
The mining segment led the way with a 7.1 percent rise, electricity up 6.5 percent while manufacturing activities rose 4.7 percent.
Sub-segments that contributed to the increase included electrical and electronics products; non-metallic mineral products, basic metal and fabricated metal products as well as food, beverages and tobacco.
Significance: However, on seasonally adjusted terms, September’s IPI fell 0.2 percent month-on-month due to weaker performances in the manufacturing and electricity indices.
MRC To Build RM115m Overhead Bridge
Malaysian Resources Corporation (MRC) will construct a RM115 million overhead bridge to connect Jalan Klang Lama with the New Pantai Expressway.
The project, estimated to last for two years, is expected is benefit about 80 percent of the personal vehicles of Seputeh and Lembah Pantai residents as well as 20 percent of public vehicles.
Additionally, MRC would also develop a 7-hectare project, called Nine Seputeh, comprising 2,000 service apartments, commercial space, a retail mall and an education institution with a gross development value of RM2.6 billion.
Significance: As of 11 November, MRC’s construction division’s order book stands at about RM5 billion and is in midst of bidding for multiple government and private sector projects.
Minetech Forays Into Property Development
Minetech Resources has proposed to acquire Glamour Heights for RM27.5 million, giving it access to two ongoing property development projects in Perak, Malaysia.
The counterparty of the sale, a relative of Minetech’s major shareholder, has provided a profit guarantee of RM27.4 million for the projects, with a discount in acquisition valuation over actual estimated profits.
The purchase consideration will be satisfied either with issuance of new Minetech shares or cash, or a combination of both.
Significance: Minetech expects a lift in bottom line once the projects are completed and sold following a net loss of RM0.6 million in 1H14, compared to a net profit of RM1.6 million a year earlier.
http://www.sharesinv.com
