CIMB Daybreak - 27 April 2015
COMPUGT (5037), AIRASIA (5099), PESTECH (5219), DAYA (0091), MALTON (6181), BPURI (5932), WILLOW (0008), KIANJOO (3522), PARKSON (5657), TROP (5401), SALCON (8567), TOPGLOV (7113), GHLSYS (0021), MAYBANK (1155), SUPERMX (7106), TM (4863), ICON (5255),
Compugates and Westwood sign agarwood sale and cutting pact
April 27, 2015 12:06:00 pm
Compugates Holdings Bhd’s unit, Compugates Marketing Sdn Bhd, has signed a standing agarwood sale and cutting agreement (SASC) with Westwood Marketing Sdn Bhd worth RM43.8m. The company said Westwood Marketing had agreed to buy the standing agarwood trees in a one-year term while Compugates Marketing had agreed that it would not sell except to Westwood Marketing in that period. “Westwood Investment Group took an interest in the agarwood segment due the high demand for its wood and oil with the main market demand coming from China, Taiwan, Japan and the Middle East,” it said. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
AirAsia Japan commenced the recruitment of cabin crew
April 27, 2015 12:05:00 pm
AirAsia Japan commenced the recruitment of senior and general cabin crew to join the carrier after Oct 2015. The successful applicants will undergo a two month training in Malaysia. As previously reported, AirAsia Group CEO Tony Fernandes recently confirmed AirAsia Japan’s launch would be postponed until early 2016 as the carrier is now in the final stages of the application process. (Flightliner)Source: CIMB Daybreak - 27 April 2015...
MATTA Urges AirAsia To Move Operations To KK Airport Main Terminal
April 27, 2015 12:05:00 pm
Malaysian Association of Tour and Travel Agents ( MATTA) president Hamzah Rahmat called on AirAsia to move its operations to the main terminal of Kota Kinabalu International Airport instead of remaining at Terminal 2. Mr Hamzah said “We understand that budget airline passengers are price sensitive and higher airport taxes can be a deterrent. But many would rather pay than endure the appalling conditions at the old terminal", adding: “While most passengers choose to pay less and expect no-frills on board, fewer and fewer are prepared to put up with the inconveniences at this overcrowded terminal lacking basic facilities such as parking bays, clean toilets, air conditioning, check-in counters, luggage X-rays machines, immigration counters and baggage carousels.” (Bernama)Source: CIMB Daybreak - 27 April 2015...
Perodua sales up 30% for Q1 2015
April 27, 2015 12:04:00 pm
Perusahaan Otomobil Kedua Sdn Bhd (Perodua) sold 57,200 units of cars in the first quarter (Q1) ended March 31, 2015, up 30% from 44,024 units in the same quarter of 2014, due to strong demand for its current models."March represented our highest monthly sales record with an expected market share of 34% based on our estimated total industry volume of 65,500 units in March," said President and Chief Executive Officer Datuk Aminar Rashid Salleh in a statement. The company said its strong performance was also partly due to the strong demand for the Axia, which garnered over 100,000 bookings since the public started making orders on Aug 15, 2014. As of March 31, 2015, Perodua had delivered over 60,000 units of the Axia. (Bernama)Source: CIMB Daybreak - 27 April 2015...
2015 Mazda 2 gets a four-star Euro NCAP safety rating
April 27, 2015 12:03:00 pm
The 2015 Mazda 2 Hatch has officially been rated four stars in Euro NCAP - the B-segment garnered respectable scores of 86% for adult protection, 78% for child protection and 84% for pedestrian protection, but a 64% safety assist score pulled down its overall rating. The variant tested was the 1.5 Core, incorporating front, head and side airbags, Isofix, stability control and an active bonnet as standard. Autonomous city braking is available as an option, but not fitted to the test car, and high-speed emergency braking is not available at all. In Malaysia, the Mazda 2 Hatch and Sedan comes with two airbags as standard. (Paul Tan)Source: CIMB Daybreak - 27 April 2015...
Chevrolet Sonic 1.6 hatchback and sedan introduced
April 27, 2015 12:03:00 pm
Chevrolet Malaysia has added a new 1.6 litre variant to the Chevrolet Sonic line-up in Malaysia. Available in both sedan and hatchback body styles, the new Sonic LTZ 1.6 is prices at RM86,782.23 OTR with insurance, which is a premium of just under RM8k or so over the 1.4 litre version. According to Chevrolet Malaysia, stock availability for the 1.6 litre version is limited for now. (Paul Tan)Source: CIMB Daybreak - 27 April 2015...
Pestech is strengthening its rail electrification unit
April 27, 2015 12:02:00 pm
Pestech International Bhd is strengthening its rail electrification business as it seeks to increase its participation in Southeast Asia's infrastructure development and modernisation. "We foresee that rail electrification is something that we want to participate actively in," Pestech CEO Paul Lim Pay Chuan told. "We have been doing electrification for substation transmission line, which runs at a voltage of 230kV to 300kV. But for rail, it only needs a 25kV system which we are able to handle," he said. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
Daya Materials scraps vessel purchase and rights issue plans
April 27, 2015 12:01:00 pm
Daya Materials has decided to scrap the proposed acquisition of one of the two US$140m (RM500m) offshore subsea construction vessels from Siem Offshore Rederi AS as well as the proposed rights issue related to it. Daya has also renegotiated the price of the vessel to be purchased down to US$120m (RM428.4m) after taking into consideration the vessel’s earnings potential and future prospects. The company's decision to buy only one vessel is “in view of the prevailing market conditions and oil prices.” (Star)Source: CIMB Daybreak - 27 April 2015...
Malton gets RM703m construction works for Pavilion Damansara Heights
April 27, 2015 12:01:00 pm
Malton Bhd has bagged a construction job worth RM703m from Impian Ekspresi Sdn Bhd, which is indirectly controlled by Malton executive chairman Tan Sri Lim Siew Choon, for the Pavilion Damansara Heights project.In a filing to Bursa Malaysia, Malton said its wholly owned unit Domain Resources Sdn Bhd accepted a letter of award from Impian Ekspresi today pertaining to construction works involving the clearance, demolition, foundation, retaining wall system, basement car parks, retail podium and infrastructures at Lot 54325, Jalan Damanlela, Pusat Bandar Damansara (PBD), Kuala Lumpur. Impian Ekspresi is the owner and developer of the 9.58 acres Pavilion Damansara Heights project. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
Bina Puri gets RM123.3m government project
April 27, 2015 12:00:00 pm
Bina Puri Holdings Bhd's wholly owned unit, Bina Puri Sdn Bhd, has clinched a RM123.32m Sabah Department of Works (JKR) contract for interior desiign works for Blocks A and B of the state administrative complex in Kota Kinabalu. In a Bursa Malaysia filing, the company said it accepted a letter of award from Sabah's JKR on April 20 and would complete the works within a year. (Sun)Source: CIMB Daybreak - 27 April 2015...
Willowglen close to firming up an acquisition
April 27, 2015 12:00:00 pm
Willowglen MSC Bhd, involved in providing supervisory control and data acquisition systems, is looking to acquire a global company in a related field, which will see it expand its business - in a move to drive future earnings. Group managing director Wong Ah Chiew said Willowglen is in the final stages of discussion with the other party and hopes to conclude the details in the next two months. "With this acquisition, we will expand our market to America, as we are currently not present there. In a way, we are trying to be more international now," he said. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
Anthony See not re-elected as Kian Joo's ED
April 27, 2015 12:00:00 pm
Datuk Anthony See Teow Guan, 69, has retired as an executive director (ED) of Kian Joo Can Factory Bhd. The company’s filing with Bursa Malaysia today showed See’s retirement was due to his non re-election as ED at its annual general meeting today. “He therefore ceased to be an executive director of the company accordingly,” read the announcement. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
Parkson's HK subsidiary expects to be hit harder
April 27, 2015 11:58:00 am
Parkson Holdings Bhd’s Hong Kong-listed subsidiary Parkson Retail Group Ltd (PRG), which issued a profit warning last month, now expects a loss for the first quarter (Q1) ended March 31 instead of the earlier-stated significant decline in profit. PRG, in a statement posted on Bursa Malaysia by its 53.07% owner Parkson Holdings, said the reason for the change in expectation was mainly due to the additional information available to the board after the March announcement.“The group’s results for the first quarter are subject to further review by the management and have not been finalised as at the date of this announcement. It is expected that the unaudited results of the group for the First Quarter will be announced on or about 21 May 2015,” PRG said. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
Tropicana to build Tenby international school campus
April 27, 2015 11:57:00 am
Tropicana Corporation Bhd has entered into a conditional agreement with Tenby Schools to develop a 10-acre international school campus within its latest 863 acres of self-contained mixed township development in Kota Kemuning. Under the agreement, Tropicana would undertake to build an international school campus with a built-up area of about 225,000 sq ft that can accommodate up to 1,800 local and international students. Tenby International School at Tropicana Aman is expected to have its first intake in Sep 2018, offering international student-oriented programmes for students aged from three to 18 years old. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
MAS reduced Kuala Lumpur-Darwin frequency
April 27, 2015 11:57:00 am
Malaysia Airlines reduced Kuala Lumpur-Darwin frequency from four to three times weekly effective 22 Apr 2015. The service operates with two class 163-seat Boeing 737-800 equipment. According to OAG, Malaysia Airlines is the sole operator on the route. (NT News) Source: CIMB Daybreak - 27 April 2015...
MAE eys JVS with OEMs for expansion
April 27, 2015 11:56:00 am
Malaysian Airline System Bhd's (MAS) maintenance and engineering arm, Malaysian Aerospace Engineering Sdn Bhd (MAE), is looking to emulate Singapore International Airline (SIA) by partnering with original equipment manufacturers (OEMs) to make aircraft parts as part of its expansion plans from 2020 onwards. It is also mulling the setting up of repair centres to grow its business further. MAE managing director Azhari Mohd Dahlan said that the idea of JVs with OEMs was mooted to widen MAS' ability to offer third-party maintenance, repair and overhaul (MRO) services from its existing hangar. MAE also wants to, by next year, position itself as a data caretaker for other airlines in the region. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
Exciting growth prospect from VBT
April 27, 2015 11:56:00 am
A new player has squeezed its way into the growing broadband market in Malaysia. Salcon Bhd, better known as an established water and wastewater engineering company, owns 51% of little-known Volksbahn Technologies Sdn Bhd (VBT), which in turn has secured a seemingly lucrative concession to wire up the LRT and monorail lines in the Klang Valley. VBT is on the verge of inking deals with a few major telecommunication companies to sell them bandwidth from this network that spans 108 km.Salcon executive director Datuk Eddy Leong explains that VBT’s network positon enables it to have “millions” of daily touchpoints with potential customers, considering that these rail networks have over 800,000 active customers. There are also potential clients in the vicinity of the network that VBT can extend its broadband services to including SMEs and large corporations wanting dedicated high-speed lines. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
Top Glove still looking to expand via M&As
April 27, 2015 11:54:00 am
The world’s leading rubber glove maker Top Glove Corp Bhd, which expects to post a double-digit growth in net profit this year, is still looking to expand rapidly via mergers and acquisitions (M&As). Executive director Lim Cheong Guan said the group was ready to acquire other glove manufacturers or related businesses and was also willing to consider investing in new businesses as well. The group, which commands a fifth of the global market share, had RM142.8m cash at the end of February. Its net debt to equity ratio currently stands at 1.5%. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
Sarawak's Baleh dam will have 1,285-MW capacity
April 27, 2015 11:54:00 am
The proposed Baleh hydroelectric dam, which Sarawak Energy Bhd (SEB) plans to build to boost its power generation capacity, will have an installed capacity of 1,285 MW. When fully commissioned, the 188m high concrete face rockfill dam is expected to generate 8,076 Gwh of electricity per year on average, of which 941 MW is firm energy, according to the project’s social and environmental impact assessment (SEIA) report.The Baleh dam will supply power required for Sarawak Corridor of Renewable Energy (SCORE) phase 2 development. Under phase 1, energy intensive industries, including aluminium, ferro silicon and manganese alloys smelting plants have been or are being set up in Samalaju Industrial Park, Bintulu. SEB chief executive officer Datuk Torstein Dale Sjotveit said the company had received approval for the Baleh SEIA report from state Natural Resources and Environment Board last month. Pending formal approval from the Sarawak government, Sjotveit has said SEB hoped to start work on the proposed dam by next year for scheduled completion in 2024. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
GHL strides forward with CIMB PSP agreement
April 27, 2015 11:53:00 am
GHL Systems Bhd has made a clear statement of intent of its aggression to grow the company's transaction payment acquisition (TPA) business last week when the end-to-end payment solutions provider signed a payment service provider arrangement (PSP) with CIMB Bank Bhd. Group CEO Raj Lorenz revealed that the company is in talks with other local banks for more PSP arrangements in the future.He said the newly-formed alliance with CIMB represents the next large stride forward for GHL because it opens the payment solutions firm to CIMB's wide local and regional footprint. "This is going to be a huge difference to us. The previous deal we announced was with Global Payments, but CIMB is a major bank with wide spread in the small and medium enterprise market and this is exactly what we wanted," Raj said. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
Maybank's Farid named CEO of The Year
April 27, 2015 11:52:00 am
Malayan Banking chief executive officer Datuk Abdul Farid Alias was named CEO of The Year in the Asean Business Awards (ABA) 2015, which recognises outstanding enterprises in the Asean business community. Farid, appointed group president and CEO of Maybank Group in August 2013, was awarded for his management and business strategy skills. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
Supermax to expand its capacity by 4bn pieces
April 27, 2015 11:51:00 am
Supermax Corp Bhd expects its rubber gloves production capacity to expand by 4bn pieces to 24bn pieces by 1Q16, due to the opening of its two new factories. Executive chairman Datuk Seri Stanley Thai said the glove maker's two new factories, code-named Factory 10 and 11, would be fully commissioned by March next year, each installed with up to 24 high-yield production lines, which could produce between 42,000 and 45,000 pieces/hour."We are currently building the plant in stages where the plants will be installed with 20 production lines by this year and four will be commissioning by 1Q16," he said. (Malaysian Reserve)Source: CIMB Daybreak - 27 April 2015...
TM raises US$750m multi-currency sukuk
April 27, 2015 11:49:00 am
Telekom Malaysia Bhd (TM) via its special-purpose vehicle, Tulip Maple Bhd, is issuing a US$750m (RM2.68bn) sukuk, the proceeds of which will be used to acquire an ownership interest in a portfolio of assets that comprises primarily of airtime vouchers, broadband vouchers and commodities. Ratings agency Moody's Investors Service Singapore Pte Ltd has assigned a provisional (P)A3 rating, with a positive outlook on the sukuk issuance programme. Moody’s added the rating of the sukuk are supported by TM’s A3 standalone issuer rating and A3 senior unsecured rating, as well as its assessment of a very high probability of systemic support. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
Oil price fall impact on EPF limited
April 27, 2015 11:46:00 am
The decline in oil prices has had a “limited” impact on the portfolio of the Employees Provident Fund (EPF), said chief executive officer Datuk Shahril Ridza Ridzuan. “Oil stocks make up a minuscule portion of our portfolio. Therefore, the impact as a whole has been actually very limited. We don’t over-concentrate our assets into any one segment of the market,” he said at a forum at Invest Malaysia 2015.Noting that the EPF always tried to maintain an “asymmetrical” risk management method when approaching the markets, Shahril said that the oil rout had actually brought about certain opportunities for it. “In some cases, the oil fall may have been overdone. And we actually bought into fundamentally (sound) companies that have been wrongly priced by the market. The advantage to us is that we are extremely well-diversified,” he said. Shahril said the EPF was exploring new asset classes such as fixed income for local currency mandates and also possibly looking at syariah mandated ones. “Overall, we are in industries such as properties and infrastructure, but we are not in natural resources at this point in time as we struggle with the concept of investing in commodities where there is no yield nor income,” he said. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
Icon Offshore CEO and COO released with surety undertaking
April 27, 2015 11:45:00 am
Icon Offshore Bhd CEO Dr Jamal Yusof and chief operating officer Rahman Yusof have been released by the Malaysian Anti-Corruption Commission. The oil and service provider told Bursa Malaysia on Friday that it had been notified by the legal counsel representing the two executives on the release subject to an oral undertaking in the sum of RM100,000 by two sureties. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
COMPUGT (5037), AIRASIA (5099), PESTECH (5219), DAYA (0091), MALTON (6181), BPURI (5932), WILLOW (0008), KIANJOO (3522), PARKSON (5657), TROP (5401), SALCON (8567), TOPGLOV (7113), GHLSYS (0021), MAYBANK (1155), SUPERMX (7106), TM (4863), ICON (5255),
April 27, 2015 12:06:00 pm
Compugates Holdings Bhd’s unit, Compugates Marketing Sdn Bhd, has signed a standing agarwood sale and cutting agreement (SASC) with Westwood Marketing Sdn Bhd worth RM43.8m. The company said Westwood Marketing had agreed to buy the standing agarwood trees in a one-year term while Compugates Marketing had agreed that it would not sell except to Westwood Marketing in that period. “Westwood Investment Group took an interest in the agarwood segment due the high demand for its wood and oil with the main market demand coming from China, Taiwan, Japan and the Middle East,” it said. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:05:00 pm
AirAsia Japan commenced the recruitment of senior and general cabin crew to join the carrier after Oct 2015. The successful applicants will undergo a two month training in Malaysia. As previously reported, AirAsia Group CEO Tony Fernandes recently confirmed AirAsia Japan’s launch would be postponed until early 2016 as the carrier is now in the final stages of the application process. (Flightliner)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:05:00 pm
Malaysian Association of Tour and Travel Agents ( MATTA) president Hamzah Rahmat called on AirAsia to move its operations to the main terminal of Kota Kinabalu International Airport instead of remaining at Terminal 2. Mr Hamzah said “We understand that budget airline passengers are price sensitive and higher airport taxes can be a deterrent. But many would rather pay than endure the appalling conditions at the old terminal", adding: “While most passengers choose to pay less and expect no-frills on board, fewer and fewer are prepared to put up with the inconveniences at this overcrowded terminal lacking basic facilities such as parking bays, clean toilets, air conditioning, check-in counters, luggage X-rays machines, immigration counters and baggage carousels.” (Bernama)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:04:00 pm
Perusahaan Otomobil Kedua Sdn Bhd (Perodua) sold 57,200 units of cars in the first quarter (Q1) ended March 31, 2015, up 30% from 44,024 units in the same quarter of 2014, due to strong demand for its current models."March represented our highest monthly sales record with an expected market share of 34% based on our estimated total industry volume of 65,500 units in March," said President and Chief Executive Officer Datuk Aminar Rashid Salleh in a statement. The company said its strong performance was also partly due to the strong demand for the Axia, which garnered over 100,000 bookings since the public started making orders on Aug 15, 2014. As of March 31, 2015, Perodua had delivered over 60,000 units of the Axia. (Bernama)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:03:00 pm
The 2015 Mazda 2 Hatch has officially been rated four stars in Euro NCAP - the B-segment garnered respectable scores of 86% for adult protection, 78% for child protection and 84% for pedestrian protection, but a 64% safety assist score pulled down its overall rating. The variant tested was the 1.5 Core, incorporating front, head and side airbags, Isofix, stability control and an active bonnet as standard. Autonomous city braking is available as an option, but not fitted to the test car, and high-speed emergency braking is not available at all. In Malaysia, the Mazda 2 Hatch and Sedan comes with two airbags as standard. (Paul Tan)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:03:00 pm
Chevrolet Malaysia has added a new 1.6 litre variant to the Chevrolet Sonic line-up in Malaysia. Available in both sedan and hatchback body styles, the new Sonic LTZ 1.6 is prices at RM86,782.23 OTR with insurance, which is a premium of just under RM8k or so over the 1.4 litre version. According to Chevrolet Malaysia, stock availability for the 1.6 litre version is limited for now. (Paul Tan)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:02:00 pm
Pestech International Bhd is strengthening its rail electrification business as it seeks to increase its participation in Southeast Asia's infrastructure development and modernisation. "We foresee that rail electrification is something that we want to participate actively in," Pestech CEO Paul Lim Pay Chuan told. "We have been doing electrification for substation transmission line, which runs at a voltage of 230kV to 300kV. But for rail, it only needs a 25kV system which we are able to handle," he said. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:01:00 pm
Daya Materials has decided to scrap the proposed acquisition of one of the two US$140m (RM500m) offshore subsea construction vessels from Siem Offshore Rederi AS as well as the proposed rights issue related to it. Daya has also renegotiated the price of the vessel to be purchased down to US$120m (RM428.4m) after taking into consideration the vessel’s earnings potential and future prospects. The company's decision to buy only one vessel is “in view of the prevailing market conditions and oil prices.” (Star)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:01:00 pm
Malton Bhd has bagged a construction job worth RM703m from Impian Ekspresi Sdn Bhd, which is indirectly controlled by Malton executive chairman Tan Sri Lim Siew Choon, for the Pavilion Damansara Heights project.In a filing to Bursa Malaysia, Malton said its wholly owned unit Domain Resources Sdn Bhd accepted a letter of award from Impian Ekspresi today pertaining to construction works involving the clearance, demolition, foundation, retaining wall system, basement car parks, retail podium and infrastructures at Lot 54325, Jalan Damanlela, Pusat Bandar Damansara (PBD), Kuala Lumpur. Impian Ekspresi is the owner and developer of the 9.58 acres Pavilion Damansara Heights project. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:00:00 pm
Bina Puri Holdings Bhd's wholly owned unit, Bina Puri Sdn Bhd, has clinched a RM123.32m Sabah Department of Works (JKR) contract for interior desiign works for Blocks A and B of the state administrative complex in Kota Kinabalu. In a Bursa Malaysia filing, the company said it accepted a letter of award from Sabah's JKR on April 20 and would complete the works within a year. (Sun)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:00:00 pm
Willowglen MSC Bhd, involved in providing supervisory control and data acquisition systems, is looking to acquire a global company in a related field, which will see it expand its business - in a move to drive future earnings. Group managing director Wong Ah Chiew said Willowglen is in the final stages of discussion with the other party and hopes to conclude the details in the next two months. "With this acquisition, we will expand our market to America, as we are currently not present there. In a way, we are trying to be more international now," he said. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 12:00:00 pm
Datuk Anthony See Teow Guan, 69, has retired as an executive director (ED) of Kian Joo Can Factory Bhd. The company’s filing with Bursa Malaysia today showed See’s retirement was due to his non re-election as ED at its annual general meeting today. “He therefore ceased to be an executive director of the company accordingly,” read the announcement. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:58:00 am
Parkson Holdings Bhd’s Hong Kong-listed subsidiary Parkson Retail Group Ltd (PRG), which issued a profit warning last month, now expects a loss for the first quarter (Q1) ended March 31 instead of the earlier-stated significant decline in profit. PRG, in a statement posted on Bursa Malaysia by its 53.07% owner Parkson Holdings, said the reason for the change in expectation was mainly due to the additional information available to the board after the March announcement.“The group’s results for the first quarter are subject to further review by the management and have not been finalised as at the date of this announcement. It is expected that the unaudited results of the group for the First Quarter will be announced on or about 21 May 2015,” PRG said. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:57:00 am
Tropicana Corporation Bhd has entered into a conditional agreement with Tenby Schools to develop a 10-acre international school campus within its latest 863 acres of self-contained mixed township development in Kota Kemuning. Under the agreement, Tropicana would undertake to build an international school campus with a built-up area of about 225,000 sq ft that can accommodate up to 1,800 local and international students. Tenby International School at Tropicana Aman is expected to have its first intake in Sep 2018, offering international student-oriented programmes for students aged from three to 18 years old. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:57:00 am
Malaysia Airlines reduced Kuala Lumpur-Darwin frequency from four to three times weekly effective 22 Apr 2015. The service operates with two class 163-seat Boeing 737-800 equipment. According to OAG, Malaysia Airlines is the sole operator on the route. (NT News) Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:56:00 am
Malaysian Airline System Bhd's (MAS) maintenance and engineering arm, Malaysian Aerospace Engineering Sdn Bhd (MAE), is looking to emulate Singapore International Airline (SIA) by partnering with original equipment manufacturers (OEMs) to make aircraft parts as part of its expansion plans from 2020 onwards. It is also mulling the setting up of repair centres to grow its business further. MAE managing director Azhari Mohd Dahlan said that the idea of JVs with OEMs was mooted to widen MAS' ability to offer third-party maintenance, repair and overhaul (MRO) services from its existing hangar. MAE also wants to, by next year, position itself as a data caretaker for other airlines in the region. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:56:00 am
A new player has squeezed its way into the growing broadband market in Malaysia. Salcon Bhd, better known as an established water and wastewater engineering company, owns 51% of little-known Volksbahn Technologies Sdn Bhd (VBT), which in turn has secured a seemingly lucrative concession to wire up the LRT and monorail lines in the Klang Valley. VBT is on the verge of inking deals with a few major telecommunication companies to sell them bandwidth from this network that spans 108 km.Salcon executive director Datuk Eddy Leong explains that VBT’s network positon enables it to have “millions” of daily touchpoints with potential customers, considering that these rail networks have over 800,000 active customers. There are also potential clients in the vicinity of the network that VBT can extend its broadband services to including SMEs and large corporations wanting dedicated high-speed lines. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:54:00 am
The world’s leading rubber glove maker Top Glove Corp Bhd, which expects to post a double-digit growth in net profit this year, is still looking to expand rapidly via mergers and acquisitions (M&As). Executive director Lim Cheong Guan said the group was ready to acquire other glove manufacturers or related businesses and was also willing to consider investing in new businesses as well. The group, which commands a fifth of the global market share, had RM142.8m cash at the end of February. Its net debt to equity ratio currently stands at 1.5%. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:54:00 am
The proposed Baleh hydroelectric dam, which Sarawak Energy Bhd (SEB) plans to build to boost its power generation capacity, will have an installed capacity of 1,285 MW. When fully commissioned, the 188m high concrete face rockfill dam is expected to generate 8,076 Gwh of electricity per year on average, of which 941 MW is firm energy, according to the project’s social and environmental impact assessment (SEIA) report.The Baleh dam will supply power required for Sarawak Corridor of Renewable Energy (SCORE) phase 2 development. Under phase 1, energy intensive industries, including aluminium, ferro silicon and manganese alloys smelting plants have been or are being set up in Samalaju Industrial Park, Bintulu. SEB chief executive officer Datuk Torstein Dale Sjotveit said the company had received approval for the Baleh SEIA report from state Natural Resources and Environment Board last month. Pending formal approval from the Sarawak government, Sjotveit has said SEB hoped to start work on the proposed dam by next year for scheduled completion in 2024. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:53:00 am
GHL Systems Bhd has made a clear statement of intent of its aggression to grow the company's transaction payment acquisition (TPA) business last week when the end-to-end payment solutions provider signed a payment service provider arrangement (PSP) with CIMB Bank Bhd. Group CEO Raj Lorenz revealed that the company is in talks with other local banks for more PSP arrangements in the future.He said the newly-formed alliance with CIMB represents the next large stride forward for GHL because it opens the payment solutions firm to CIMB's wide local and regional footprint. "This is going to be a huge difference to us. The previous deal we announced was with Global Payments, but CIMB is a major bank with wide spread in the small and medium enterprise market and this is exactly what we wanted," Raj said. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:52:00 am
Malayan Banking chief executive officer Datuk Abdul Farid Alias was named CEO of The Year in the Asean Business Awards (ABA) 2015, which recognises outstanding enterprises in the Asean business community. Farid, appointed group president and CEO of Maybank Group in August 2013, was awarded for his management and business strategy skills. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:51:00 am
Supermax Corp Bhd expects its rubber gloves production capacity to expand by 4bn pieces to 24bn pieces by 1Q16, due to the opening of its two new factories. Executive chairman Datuk Seri Stanley Thai said the glove maker's two new factories, code-named Factory 10 and 11, would be fully commissioned by March next year, each installed with up to 24 high-yield production lines, which could produce between 42,000 and 45,000 pieces/hour."We are currently building the plant in stages where the plants will be installed with 20 production lines by this year and four will be commissioning by 1Q16," he said. (Malaysian Reserve)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:49:00 am
Telekom Malaysia Bhd (TM) via its special-purpose vehicle, Tulip Maple Bhd, is issuing a US$750m (RM2.68bn) sukuk, the proceeds of which will be used to acquire an ownership interest in a portfolio of assets that comprises primarily of airtime vouchers, broadband vouchers and commodities. Ratings agency Moody's Investors Service Singapore Pte Ltd has assigned a provisional (P)A3 rating, with a positive outlook on the sukuk issuance programme. Moody’s added the rating of the sukuk are supported by TM’s A3 standalone issuer rating and A3 senior unsecured rating, as well as its assessment of a very high probability of systemic support. (Financial Daily)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:46:00 am
The decline in oil prices has had a “limited” impact on the portfolio of the Employees Provident Fund (EPF), said chief executive officer Datuk Shahril Ridza Ridzuan. “Oil stocks make up a minuscule portion of our portfolio. Therefore, the impact as a whole has been actually very limited. We don’t over-concentrate our assets into any one segment of the market,” he said at a forum at Invest Malaysia 2015.Noting that the EPF always tried to maintain an “asymmetrical” risk management method when approaching the markets, Shahril said that the oil rout had actually brought about certain opportunities for it. “In some cases, the oil fall may have been overdone. And we actually bought into fundamentally (sound) companies that have been wrongly priced by the market. The advantage to us is that we are extremely well-diversified,” he said. Shahril said the EPF was exploring new asset classes such as fixed income for local currency mandates and also possibly looking at syariah mandated ones. “Overall, we are in industries such as properties and infrastructure, but we are not in natural resources at this point in time as we struggle with the concept of investing in commodities where there is no yield nor income,” he said. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
April 27, 2015 11:45:00 am
Icon Offshore Bhd CEO Dr Jamal Yusof and chief operating officer Rahman Yusof have been released by the Malaysian Anti-Corruption Commission. The oil and service provider told Bursa Malaysia on Friday that it had been notified by the legal counsel representing the two executives on the release subject to an oral undertaking in the sum of RM100,000 by two sureties. (StarBiz)Source: CIMB Daybreak - 27 April 2015...
