SiRentap
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trading is a skill..you can develop it..risk can be managed
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- Thread starter ridersenja
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trading is a skill..you can develop it..risk can be managed
mizemall.com
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1.A&M 0.57,2.Abric .21 3)Ag GLobal 0.065 4)AHB 0.125 5)APLAND 0.32 6)ANCOM 0.605 7)Arank 0.515 8)AsCap 0.595 9)Apex 0.68
phantom_scarab
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Ekuinas sees Tanjung Offshore revenue doubling
KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas), which is investing RM73.4 million in TANJUNG
OFFSHORE BHD (Tanjung Offshore), hopes to see the latter's revenue double in the mid-to-long
term.
Ekuinas CEO Datuk Abdul Rahman Ahmad said on Friday, July 23 that its investment horizon as a
strategic investor was between three and five years.
On the plans for Ekuinas, he added Ekuinas hoped to announce its next investment project by the end
of the year.
"We are talking to a number of parties and will not rule anybody out, but we hope that our next
announcement will be in line with a buyout of non-core assets," he said at a press conference after
Tanjung Offshore shareholders approved Ekuinas' investment.
Abdul Rahman said Ekuinas would be looking at GLCs, MNCs and PLCs that operated within any of
the six core sectors Ekuinas was interested in -- health-care, education, retail, leisure, services and
fast-moving consumer goods.
On the Tanjung Offshore investment, it involved Ekuinas subscribing for 26 million new shares under a
special share placement exercise and the acquisition of another 30.5 million existing shares from
former executive director Abdullah Hashim and his affiliates. The shares would be acquired at RM1.30
per share.
"We are pleased by the outcome of this EGM and that the shareholders of Tanjung Offshore gave full
support to our entry," he said.
Asked whether Ekuinas would raise its stake in Tanjung Offshore, Abdul Rahman said that they would
welcome further opportunities to invest, but that for the time being "we are happy with what we have."
Tanjung Offshore managing director Omar Khalid said that he looked forward to the new partnership
with Ekuinas and to taking business to the next level. Omar is the largest shareholder with 40.8%
stake.
KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas), which is investing RM73.4 million in TANJUNG
OFFSHORE BHD (Tanjung Offshore), hopes to see the latter's revenue double in the mid-to-long
term.
Ekuinas CEO Datuk Abdul Rahman Ahmad said on Friday, July 23 that its investment horizon as a
strategic investor was between three and five years.
On the plans for Ekuinas, he added Ekuinas hoped to announce its next investment project by the end
of the year.
"We are talking to a number of parties and will not rule anybody out, but we hope that our next
announcement will be in line with a buyout of non-core assets," he said at a press conference after
Tanjung Offshore shareholders approved Ekuinas' investment.
Abdul Rahman said Ekuinas would be looking at GLCs, MNCs and PLCs that operated within any of
the six core sectors Ekuinas was interested in -- health-care, education, retail, leisure, services and
fast-moving consumer goods.
On the Tanjung Offshore investment, it involved Ekuinas subscribing for 26 million new shares under a
special share placement exercise and the acquisition of another 30.5 million existing shares from
former executive director Abdullah Hashim and his affiliates. The shares would be acquired at RM1.30
per share.
"We are pleased by the outcome of this EGM and that the shareholders of Tanjung Offshore gave full
support to our entry," he said.
Asked whether Ekuinas would raise its stake in Tanjung Offshore, Abdul Rahman said that they would
welcome further opportunities to invest, but that for the time being "we are happy with what we have."
Tanjung Offshore managing director Omar Khalid said that he looked forward to the new partnership
with Ekuinas and to taking business to the next level. Omar is the largest shareholder with 40.8%
stake.
phantom_scarab
Fun Poster
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Ekuinas to make 3rd investment by year-end
State private equity fund manager Ekuiti Nasional Bhd (Ekuinas) will announce its third investment
before year-end, says chief executive officer Datuk Abdul Rahman Ahmad. He said the investment
would see the company's involvement in the management buyout of existing units of any governmentlinked
companies (GLCs), public-listed companies (PLCs) or multinational companies (MNCs). "We
are talking with a number of parties but we have not decided on any companies or sectors," he told
reporters after Tanjung Offshore Bhd's extraordinary general meeting (EGM) today. Ekuinas was set
up in September 2009 as the government-linked special-purpose vehicle.
The company had made two deals so far. The first was in a cosmetics firm, Alliance Cosmetic Group,
where it invested RM40 million in a vehicle that would control 80 per cent of the cosmetics maker
together with Navis Capital Partners. The second and most recent was the acquisition of 20 per cent
stake in the oil and gas company, Tanjung Offshore Bhd, through Ekuinas's wholly-owned subsidiary,
E-Cap (Internal) One Sdn Bhd, for RM73.4 million, or RM1.30 a share.
"This (third investment) is to fulfil our third objective to invest in the non-core assets of either GLCs,
PLCs or MNCs," Abdul Rahman said. He said Ekuinas would pursue buyout transactions with an
investment size of at least RM30 million and a meaningful effective stake of not less than 20 per cent
to enable it to become an active shareholder. The company manages an initial fund of RM500 million
which will be enlarged to up to RM10 billion eventually.
Under the Ninth and 10th Malaysia Plans, it is expected to make private equity investments directly in
the companies and other private equity funds of up to RM5.0 billion until 2015. It would invest in
education, healthcare, services, retail, leisure, oil and gas industries as well as fast-moving consumer
goods including food and beverage sectors.
Meanwhile, Ekuinas said it has received Tanjung Offshore shareholders' approval today for the
subscription of 26 million new Tanjung Offshore shares under a special share placement exercise, in
conjunction with the acquisition of 20 per cent stake in the company. This exercise is expected to be
completed by next week, it said.
Ekuinas said the exercise was expected to raise RM33.8 million, which would be used for the working
capital of Tanjung Offshore as well as to repay its borrowings. Tanjung Offshore's borrowings
amounted to RM587.3 million as at June 30, 2010.
It said the stake acquisition exercise also involved the purchase of another 30.5 million existing shares
via a share sale agreement with former executive director of Tanjung Offshore, Abdullah Hashim and
his affiliates. "Following the acquisition, Ekuinas, via E-Cap, will own about 19.83 per cent stake in
Tanjung Offshore, while another 4.74 per cent and 34.39 per cent were held by Tanjung Offshore
residing managing director, Omar Khalid and Abdullah, respectively. "The balance of 7.53 per cent is
owned by Tabung Haji," it said. Tanjung Offshore currently owns and operates 16 vessels. It is one of
the the leading players in oil and gas upstream support services sector. -- Bernama
State private equity fund manager Ekuiti Nasional Bhd (Ekuinas) will announce its third investment
before year-end, says chief executive officer Datuk Abdul Rahman Ahmad. He said the investment
would see the company's involvement in the management buyout of existing units of any governmentlinked
companies (GLCs), public-listed companies (PLCs) or multinational companies (MNCs). "We
are talking with a number of parties but we have not decided on any companies or sectors," he told
reporters after Tanjung Offshore Bhd's extraordinary general meeting (EGM) today. Ekuinas was set
up in September 2009 as the government-linked special-purpose vehicle.
The company had made two deals so far. The first was in a cosmetics firm, Alliance Cosmetic Group,
where it invested RM40 million in a vehicle that would control 80 per cent of the cosmetics maker
together with Navis Capital Partners. The second and most recent was the acquisition of 20 per cent
stake in the oil and gas company, Tanjung Offshore Bhd, through Ekuinas's wholly-owned subsidiary,
E-Cap (Internal) One Sdn Bhd, for RM73.4 million, or RM1.30 a share.
"This (third investment) is to fulfil our third objective to invest in the non-core assets of either GLCs,
PLCs or MNCs," Abdul Rahman said. He said Ekuinas would pursue buyout transactions with an
investment size of at least RM30 million and a meaningful effective stake of not less than 20 per cent
to enable it to become an active shareholder. The company manages an initial fund of RM500 million
which will be enlarged to up to RM10 billion eventually.
Under the Ninth and 10th Malaysia Plans, it is expected to make private equity investments directly in
the companies and other private equity funds of up to RM5.0 billion until 2015. It would invest in
education, healthcare, services, retail, leisure, oil and gas industries as well as fast-moving consumer
goods including food and beverage sectors.
Meanwhile, Ekuinas said it has received Tanjung Offshore shareholders' approval today for the
subscription of 26 million new Tanjung Offshore shares under a special share placement exercise, in
conjunction with the acquisition of 20 per cent stake in the company. This exercise is expected to be
completed by next week, it said.
Ekuinas said the exercise was expected to raise RM33.8 million, which would be used for the working
capital of Tanjung Offshore as well as to repay its borrowings. Tanjung Offshore's borrowings
amounted to RM587.3 million as at June 30, 2010.
It said the stake acquisition exercise also involved the purchase of another 30.5 million existing shares
via a share sale agreement with former executive director of Tanjung Offshore, Abdullah Hashim and
his affiliates. "Following the acquisition, Ekuinas, via E-Cap, will own about 19.83 per cent stake in
Tanjung Offshore, while another 4.74 per cent and 34.39 per cent were held by Tanjung Offshore
residing managing director, Omar Khalid and Abdullah, respectively. "The balance of 7.53 per cent is
owned by Tabung Haji," it said. Tanjung Offshore currently owns and operates 16 vessels. It is one of
the the leading players in oil and gas upstream support services sector. -- Bernama
phantom_scarab
Fun Poster
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amriros
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sinotop..
ade berani ka.. aku tgh collect sikit2.. hehe.. high risk wooo..
ade berani ka.. aku tgh collect sikit2.. hehe.. high risk wooo..
ridersenja
Active Member
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KUALA LUMPUR: Stocks on Bursa Malaysia are expected to open on a cautious note on Friday, Sept 24 after the market staged a pullback on Thursday, sending the FBM KLCI down 16.67 points to 1,458.08.
The pullback, which analysts said was not unexpected due to weaker external factors including the decline on European markets, saw the Malaysian market capitalization reduced to RM1.152 trillion from RM1.163 trillion on Thursday.
Year-to-date, the FBM KLCI is up 14.56% while in US dollars term, it is up 27.09%.
In Tokyo, Japan's Nikkei average fell 1.5 percent on Friday after a weak reading on the U.S. job market pushed down shares on Wall Street.
The benchmark Nikkei dropped 145.96 points to 9,420.36. The broader Topix index declined 1.3 percent to 835.88.
On Wall Street, U.S. stocks fell on Thursday after a weak reading on the labor market dropped stocks through a key technical level, validating the worries of those who thought the recent rally was flimsy, according to Reuters.
The Dow Jones industrial average was down 76.89 points, or 0.72 percent, at 10,662.42. The Standard & Poor's 500 Index was down 9.45 points, or 0.83 percent, at 1,124.83. The Nasdaq Composite Index was down 7.47 points, or 0.32 percent, at 2,327.08.
Adding to investor concerns, European data showed the pace of growth in the euro zone's services and manufacturing sector slowing more than expected. Existing-home sales rose in August by 7.6 percent from a 13-year low recorded in July, Reuters reported.
Stocks to watch on Bursa Malaysia are SP Setia, DXN HOLDINGS BHD [], Talam Corp Bhd and HELP International Bhd.
Also in focus would be cigarette companies including BRITISH AMERICAN TOBACCO (M) [] Bhd and JT INTERNATIONAL BHD [].
InsiderAsia reports cigarette companies are likely to be waiting for the upcoming Budget 2011 with some anxiety.
“This is typically the time the government announces additional taxes to be levied on the industry, and it has raised taxes every year since 2003,” according to the report which appears in The Edge FinancialDaily.
SP SETIA BHD [] posted a strong set of results, with earnings at RM87.25 million for the third quarter ended July 31, 2010 versus RM42.68 million a year ago.
It said revenue increased 13.5% to RM414.90 million from RM365.57 million. Earnings per share were 8.58 sen versus 4.2 sen.
SP Setia also said the group has achieved sales of RM1.95 billion as at Aug 31, achieving its full year FY2010 sales target of RM2 billion, two months ahead of its financial year ending Oct 31.
DXN Holdings Bhd has set a dividend policy of distributing at least 50% of the group’s net profit to shareholders with immediate effect. The dividend is to be paid on a quarterly basis.
Kumpulan Euro Bhd disposed of 100 million shares of Talam Corp Bhd, or 3.36%, for RM9.94 million on Sept 22 and 23.
The shares arose from the recent conversion of redeemable convertible secured loan stock-D which were acquired on June 25.
ZELAN BHD [] disposed of 7.03 million IJM Corp Bhd shares in the open market on Sept 21 and 23 for a total consideration of RM35.97 million.
It said the shares, or 0.52% of IJM’s paid-up capital, were disposed in the open market at an average price of RM5.13 per share.
The original cost of investment of the sale shares was approximately RM4.14 per share at group level and RM3.50 per share at company level.
HELP International Corp Bhd posted a strong set of earnings for the third quarter ended July 31 with net profit of RM3.23 million versus RM2.92 million a year ago. Revenue was RM23.38 million compared with RM21.59 million. Earnings per share was 3.6 sen versus 3.3 sen.
The pullback, which analysts said was not unexpected due to weaker external factors including the decline on European markets, saw the Malaysian market capitalization reduced to RM1.152 trillion from RM1.163 trillion on Thursday.
Year-to-date, the FBM KLCI is up 14.56% while in US dollars term, it is up 27.09%.
In Tokyo, Japan's Nikkei average fell 1.5 percent on Friday after a weak reading on the U.S. job market pushed down shares on Wall Street.
The benchmark Nikkei dropped 145.96 points to 9,420.36. The broader Topix index declined 1.3 percent to 835.88.
On Wall Street, U.S. stocks fell on Thursday after a weak reading on the labor market dropped stocks through a key technical level, validating the worries of those who thought the recent rally was flimsy, according to Reuters.
The Dow Jones industrial average was down 76.89 points, or 0.72 percent, at 10,662.42. The Standard & Poor's 500 Index was down 9.45 points, or 0.83 percent, at 1,124.83. The Nasdaq Composite Index was down 7.47 points, or 0.32 percent, at 2,327.08.
Adding to investor concerns, European data showed the pace of growth in the euro zone's services and manufacturing sector slowing more than expected. Existing-home sales rose in August by 7.6 percent from a 13-year low recorded in July, Reuters reported.
Stocks to watch on Bursa Malaysia are SP Setia, DXN HOLDINGS BHD [], Talam Corp Bhd and HELP International Bhd.
Also in focus would be cigarette companies including BRITISH AMERICAN TOBACCO (M) [] Bhd and JT INTERNATIONAL BHD [].
InsiderAsia reports cigarette companies are likely to be waiting for the upcoming Budget 2011 with some anxiety.
“This is typically the time the government announces additional taxes to be levied on the industry, and it has raised taxes every year since 2003,” according to the report which appears in The Edge FinancialDaily.
SP SETIA BHD [] posted a strong set of results, with earnings at RM87.25 million for the third quarter ended July 31, 2010 versus RM42.68 million a year ago.
It said revenue increased 13.5% to RM414.90 million from RM365.57 million. Earnings per share were 8.58 sen versus 4.2 sen.
SP Setia also said the group has achieved sales of RM1.95 billion as at Aug 31, achieving its full year FY2010 sales target of RM2 billion, two months ahead of its financial year ending Oct 31.
DXN Holdings Bhd has set a dividend policy of distributing at least 50% of the group’s net profit to shareholders with immediate effect. The dividend is to be paid on a quarterly basis.
Kumpulan Euro Bhd disposed of 100 million shares of Talam Corp Bhd, or 3.36%, for RM9.94 million on Sept 22 and 23.
The shares arose from the recent conversion of redeemable convertible secured loan stock-D which were acquired on June 25.
ZELAN BHD [] disposed of 7.03 million IJM Corp Bhd shares in the open market on Sept 21 and 23 for a total consideration of RM35.97 million.
It said the shares, or 0.52% of IJM’s paid-up capital, were disposed in the open market at an average price of RM5.13 per share.
The original cost of investment of the sale shares was approximately RM4.14 per share at group level and RM3.50 per share at company level.
HELP International Corp Bhd posted a strong set of earnings for the third quarter ended July 31 with net profit of RM3.23 million versus RM2.92 million a year ago. Revenue was RM23.38 million compared with RM21.59 million. Earnings per share was 3.6 sen versus 3.3 sen.
ridersenja
Active Member
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KUALA LUMPUR: Stocks on Bursa Malaysia may take a breather on Tuesday, Sept 28 in line with key regional markets, after US stocks slipped on Monday.
On Wall Street, investors took a break from a four-week rally, but they remained optimistic the advance would resume as a flurry of deals suggested companies were seeing value in the market, according to Reuters.
The Dow Jones industrial average was down 48.22 points, or 0.44%, at 10,812.04. The Standard & Poor's 500 Index was down 6.51 points, or 0.57%, at 1,142.16. The Nasdaq Composite Index was down 11.45 points, or 0.48%, at 2,369.77.
At Bursa Malaysia, stocks to watch would be REDTONE INTERNATIONAL BHD [], TALIWORKS CORPORATION BHD [], SUNWAY CITY BHD [], water-related companies in Selangor and Kimlun Corporation Bhd.
REDtone subsidiary REDTone Marketing Sdn Bhd has a secured a 20MHz block on the 2.6GHz broadband wireless spectrum.
The 2.6GHz spectrum will allow it to roll out high-speed broadband services, that is long-term evolution and 4G, and enable it to further strengthen its offerings to this core segment.
Taliworks’s 70% owned Eco3 Tech has sealed a 30-year concession with China’s Ningdong Energy for a waste water treatment plant. The contract is worth RM66.84 million.
Eco3 has been granted an exclusive right during the concession period to build, operate and maintain the industrial waste water treatment and recycled water plant and recycled water piping in the Ningdong Energy Chemical Base Meihua Industrial Park, Ningxia Province.
Sunway City plans to undertake residential projects on Penang island with an estimated gross development value of RM800 million.
SunCity said the land, measuring 81 acres, will be acquired for RM38.765 million for the purpose of residential development. When fully developed, the proposed acquisition will provide SunCity with an estimated GDV of RM800 million.
The Edge FinancialDaily reports a water tariff hike of between 15% and 20% may be in the offing for Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), sources said.
It also reports that cash-rich Asia File Corp Bhd is on a lookout for acquisitions in the US to make inroads into the American market. However, the Penang-based stationery and file maker has decided to hold back its expansion in Europe.
Kimlun has secured a contract from of SP SETIA BHD [] to build two blocks of 25-storey apartments in Bandar Nusajaya, Johor.
Kimlun said its unit Kimlun Sdn Bhd had on Sept 24 received the letter of award from Bukit Indah (Johor) Sdn Bhd, a unit of SP Setia.
On Wall Street, investors took a break from a four-week rally, but they remained optimistic the advance would resume as a flurry of deals suggested companies were seeing value in the market, according to Reuters.
The Dow Jones industrial average was down 48.22 points, or 0.44%, at 10,812.04. The Standard & Poor's 500 Index was down 6.51 points, or 0.57%, at 1,142.16. The Nasdaq Composite Index was down 11.45 points, or 0.48%, at 2,369.77.
At Bursa Malaysia, stocks to watch would be REDTONE INTERNATIONAL BHD [], TALIWORKS CORPORATION BHD [], SUNWAY CITY BHD [], water-related companies in Selangor and Kimlun Corporation Bhd.
REDtone subsidiary REDTone Marketing Sdn Bhd has a secured a 20MHz block on the 2.6GHz broadband wireless spectrum.
The 2.6GHz spectrum will allow it to roll out high-speed broadband services, that is long-term evolution and 4G, and enable it to further strengthen its offerings to this core segment.
Taliworks’s 70% owned Eco3 Tech has sealed a 30-year concession with China’s Ningdong Energy for a waste water treatment plant. The contract is worth RM66.84 million.
Eco3 has been granted an exclusive right during the concession period to build, operate and maintain the industrial waste water treatment and recycled water plant and recycled water piping in the Ningdong Energy Chemical Base Meihua Industrial Park, Ningxia Province.
Sunway City plans to undertake residential projects on Penang island with an estimated gross development value of RM800 million.
SunCity said the land, measuring 81 acres, will be acquired for RM38.765 million for the purpose of residential development. When fully developed, the proposed acquisition will provide SunCity with an estimated GDV of RM800 million.
The Edge FinancialDaily reports a water tariff hike of between 15% and 20% may be in the offing for Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), sources said.
It also reports that cash-rich Asia File Corp Bhd is on a lookout for acquisitions in the US to make inroads into the American market. However, the Penang-based stationery and file maker has decided to hold back its expansion in Europe.
Kimlun has secured a contract from of SP SETIA BHD [] to build two blocks of 25-storey apartments in Bandar Nusajaya, Johor.
Kimlun said its unit Kimlun Sdn Bhd had on Sept 24 received the letter of award from Bukit Indah (Johor) Sdn Bhd, a unit of SP Setia.
ridersenja
Active Member
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KUALA LUMPUR: Stocks on Bursa Malaysia are likely to stage a mild rebound on Wednesday, Sept 29, tracking overnight gains on Wall Street and firmer regional markets including Japan.
On Wall Street, the Dow Jones industrial average gained 46.10 points, or 0.43 percent, to end at 10,858.14. The Standard & Poor's 500 Index rose 5.54 points, or 0.49 percent, to 1,147.70. The Nasdaq Composite Index advanced 9.82 points, or 0.41 percent, to 2,379.59.
Reuters reported latecomers jumped onto the September bandwagon, buying up sectors that have outperformed during the month.
The S&P 500 has risen 9.4 percent so far in September, historically the worst month for stocks.
At Bursa Malaysia, stocks to watch include GAMUDA BHD [], JAYA TIASA HOLDINGS BHD [], GOLDEN PLUS HOLDINGS BHD [], FORMIS RESOURCES BHD [], Supermax Corp Bhd.
Gamuda’s earnings surged 77% to RM76.61 million in the fourth quarter ended July 31, 2010 from RM43.29 million a year ago, due to higher contributions from all divisions and expects to perform better in the next financial year
Revenue however declined 24% to RM714.78 million from RM942.24 million a year ago. Earnings per share were 3.79 sen versus 2.16 sen.
For the financial year ended July 31, 2010, earnings rose to RM280.69 million from RM193.69 million. Revenue was lower at RM2.45 billion compared with RM2.73 billion in FY09.
Jaya Tiasa posted stronger set of results for the first quarter ended July 31, 2010. Net profit was RM22.69 million versus only RM791,000 a year ago. Revenue rose 12% to RM185.5 million from RM166.3 million. Pre-tax profit jumped to RM30.1 million from RM2.1 million.
Better results in revenue and pre-tax profit were mainly due to improved proceeds from logs sales with 7% increase in average selling price; better margin of plywood sales with 16% reduction in costs of production due to higher production volume; and 66% increase in sales volume and 9% higher average selling price of fresh fruit bunches (FFB).
Bursa Malaysia has sought court action to force Golden Plus to compel it with the directives issued by Bursa Malaysia and consent order over the appointment of a special auditor.
The directives and consent order are with regards to the appointment of a special auditor (SA) to review the affairs of GPlus and its subsidiary companies. This was in relation to its compliance with the Listing Requirements, including proper and accurate disclosures to its shareholders.
Formis Resources Bhd, which is undertaking the RM69.0 million government e-courts contract, said the implementation is on schedule and is about 90% completed.
Formis executive vice-chairman and chief executive officer Datuk Mah Siew Kwok said Formis had a solid recurring income stream of RM61.0 million from maintenance and service contracts and an order book of RM194.3 million order as at Sept 15.
He said the group also has a strong pipeline of potential projects, having tendered for a total of RM1.36 billion worth of contracts.
Supermax expects to achieve nearly RM1 billion in annual sales by the end of the current financial year Dec 31, 2010 driven by world demand and good marketing strategy. This would be 20% above the previous annual sales of RM800 million.
On Wall Street, the Dow Jones industrial average gained 46.10 points, or 0.43 percent, to end at 10,858.14. The Standard & Poor's 500 Index rose 5.54 points, or 0.49 percent, to 1,147.70. The Nasdaq Composite Index advanced 9.82 points, or 0.41 percent, to 2,379.59.
Reuters reported latecomers jumped onto the September bandwagon, buying up sectors that have outperformed during the month.
The S&P 500 has risen 9.4 percent so far in September, historically the worst month for stocks.
At Bursa Malaysia, stocks to watch include GAMUDA BHD [], JAYA TIASA HOLDINGS BHD [], GOLDEN PLUS HOLDINGS BHD [], FORMIS RESOURCES BHD [], Supermax Corp Bhd.
Gamuda’s earnings surged 77% to RM76.61 million in the fourth quarter ended July 31, 2010 from RM43.29 million a year ago, due to higher contributions from all divisions and expects to perform better in the next financial year
Revenue however declined 24% to RM714.78 million from RM942.24 million a year ago. Earnings per share were 3.79 sen versus 2.16 sen.
For the financial year ended July 31, 2010, earnings rose to RM280.69 million from RM193.69 million. Revenue was lower at RM2.45 billion compared with RM2.73 billion in FY09.
Jaya Tiasa posted stronger set of results for the first quarter ended July 31, 2010. Net profit was RM22.69 million versus only RM791,000 a year ago. Revenue rose 12% to RM185.5 million from RM166.3 million. Pre-tax profit jumped to RM30.1 million from RM2.1 million.
Better results in revenue and pre-tax profit were mainly due to improved proceeds from logs sales with 7% increase in average selling price; better margin of plywood sales with 16% reduction in costs of production due to higher production volume; and 66% increase in sales volume and 9% higher average selling price of fresh fruit bunches (FFB).
Bursa Malaysia has sought court action to force Golden Plus to compel it with the directives issued by Bursa Malaysia and consent order over the appointment of a special auditor.
The directives and consent order are with regards to the appointment of a special auditor (SA) to review the affairs of GPlus and its subsidiary companies. This was in relation to its compliance with the Listing Requirements, including proper and accurate disclosures to its shareholders.
Formis Resources Bhd, which is undertaking the RM69.0 million government e-courts contract, said the implementation is on schedule and is about 90% completed.
Formis executive vice-chairman and chief executive officer Datuk Mah Siew Kwok said Formis had a solid recurring income stream of RM61.0 million from maintenance and service contracts and an order book of RM194.3 million order as at Sept 15.
He said the group also has a strong pipeline of potential projects, having tendered for a total of RM1.36 billion worth of contracts.
Supermax expects to achieve nearly RM1 billion in annual sales by the end of the current financial year Dec 31, 2010 driven by world demand and good marketing strategy. This would be 20% above the previous annual sales of RM800 million.
ridersenja
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KUALA LUMPUR: Stocks on Bursa Malaysia may see extended gains on Thursday, Sept 30 on some window-dressing activities as the third quarter draws to an end.
The broader market was firmer on Wednesday, despite profit taking activities. Gains were seen in companies including MALAYSIAN RESOURCES CORP [] Bhd which rallied to a near 30-month high.
On Wall Street, stocks took a breather from a month-long rally on Wednesday, Sept 29 with investors bracing for higher volatility going forward as the best quarter in a year nears its end.
The S&P 500 is up 9.1 percent in September, traditionally a weak month for stocks, as investors anticipate the Federal Reserve will take extra steps to spur economic activity.
The Dow Jones industrial average shed 22.86 points, or 0.21 percent, to 10,835.28. The Standard & Poor's 500 Index dipped 2.97 points, or 0.26 percent, to 1,144.73. The Nasdaq Composite Index fell 3.03 points, or 0.13 percent, to 2,376.56.
Stocks to watch include Berjaya Corp Bhd, SAPURACREST PETROLEUM BHD [], HAI-O ENTERPRISE BHD [], Kimlun Corporation Bhd and MALAYAN BANKING BHD []. Also in focus will be KENCANA PETROLEUM BHD [] and GOLDEN PLUS HOLDINGS BHD [].
BCorp posted net profit of RM125.46 million in the first quarter ended July 31, 2010, up 214% from RM39.9 million a year ago. The better performance was also due to lower investment related expenses of RM17.62 million compared with RM83 million a year ago.
BCorp’s revenue rose 8% to RM1.74 billion versus RM1.61 billion a year ago. Pre-tax profit was RM237.78 million, up 30% from RM182.81 million. Earnings per share were 2.88 sen versus 1.01 sen.
SapuraCrest posted net profit of RM53.24 million in the second quarter ended July 31, 2010, which a marginal 1.68% increase from the RM52.36 million a year ago, due higher contribution from the installation of pipelines and facilities (IFP) and the drilling division.
Hai-O’s net profit fell 57% to RM7.84 million in the first quarter ended July 31, 2010 from RM18.52 million a year ago as the multi-level marketing (MLM) division recorded lower revenue.
Pre-tax profit was RM10.79 million, down 59% from RM26.28 million a year ago while revenue fell 63% to RM54.75 million from RM148.57 million. Earnings per share were 3.91 sen versus 22.17 sen.
Kimlun secured a RM70 million project from Malaysian Resources Corporation Bhd to build the Marlborough College East in Pulai, Iskandar Malaysia, Johor.
The scope of works comprises of building CONSTRUCTION [] works for the college. The works are expected to be completed by January 2012. Kimlun expects it to contribute positively to the earnings and net assets of the group for the financial years ending 2010 to 2012.
Maybank expects 40% of its profit to come from international business by 2015 from 21% currently, president and chief executive officer Datuk Seri Abdul Wahid Omar said.
Bulk of the profit will come from operations in Singapore and Indonesia, which contributed RM818 million and RM238 million in profit respectively in the last financial year.
The focus will be on key sectors such as car loans in Singapore and shipping in Indonesia.
Abdul Wahid said Maybank will expand its branch network in Indonesia to 450 from 290 in order to capture growth and better serve customers.
Kencana posted net profit of RM41.5 million for the fourth quarter ended July 31, up 37% from RM30.3 million a year ago mainly due to lower expenses and better management of costs especially from the offshore services segment,
GPlus holds its AGM on Thursday and shareholders are expected to raise questions about the latest developments following Bursa Malaysia’s latest action.
Bursa Malaysia had sought court action to force GPlus to comply with the directives and consent order on the appointment of a special auditor.
The directives and consent order are with regards to the appointment of a special auditor (SA) to review the affairs of GPlus and its subsidiary companies.
The broader market was firmer on Wednesday, despite profit taking activities. Gains were seen in companies including MALAYSIAN RESOURCES CORP [] Bhd which rallied to a near 30-month high.
On Wall Street, stocks took a breather from a month-long rally on Wednesday, Sept 29 with investors bracing for higher volatility going forward as the best quarter in a year nears its end.
The S&P 500 is up 9.1 percent in September, traditionally a weak month for stocks, as investors anticipate the Federal Reserve will take extra steps to spur economic activity.
The Dow Jones industrial average shed 22.86 points, or 0.21 percent, to 10,835.28. The Standard & Poor's 500 Index dipped 2.97 points, or 0.26 percent, to 1,144.73. The Nasdaq Composite Index fell 3.03 points, or 0.13 percent, to 2,376.56.
Stocks to watch include Berjaya Corp Bhd, SAPURACREST PETROLEUM BHD [], HAI-O ENTERPRISE BHD [], Kimlun Corporation Bhd and MALAYAN BANKING BHD []. Also in focus will be KENCANA PETROLEUM BHD [] and GOLDEN PLUS HOLDINGS BHD [].
BCorp posted net profit of RM125.46 million in the first quarter ended July 31, 2010, up 214% from RM39.9 million a year ago. The better performance was also due to lower investment related expenses of RM17.62 million compared with RM83 million a year ago.
BCorp’s revenue rose 8% to RM1.74 billion versus RM1.61 billion a year ago. Pre-tax profit was RM237.78 million, up 30% from RM182.81 million. Earnings per share were 2.88 sen versus 1.01 sen.
SapuraCrest posted net profit of RM53.24 million in the second quarter ended July 31, 2010, which a marginal 1.68% increase from the RM52.36 million a year ago, due higher contribution from the installation of pipelines and facilities (IFP) and the drilling division.
Hai-O’s net profit fell 57% to RM7.84 million in the first quarter ended July 31, 2010 from RM18.52 million a year ago as the multi-level marketing (MLM) division recorded lower revenue.
Pre-tax profit was RM10.79 million, down 59% from RM26.28 million a year ago while revenue fell 63% to RM54.75 million from RM148.57 million. Earnings per share were 3.91 sen versus 22.17 sen.
Kimlun secured a RM70 million project from Malaysian Resources Corporation Bhd to build the Marlborough College East in Pulai, Iskandar Malaysia, Johor.
The scope of works comprises of building CONSTRUCTION [] works for the college. The works are expected to be completed by January 2012. Kimlun expects it to contribute positively to the earnings and net assets of the group for the financial years ending 2010 to 2012.
Maybank expects 40% of its profit to come from international business by 2015 from 21% currently, president and chief executive officer Datuk Seri Abdul Wahid Omar said.
Bulk of the profit will come from operations in Singapore and Indonesia, which contributed RM818 million and RM238 million in profit respectively in the last financial year.
The focus will be on key sectors such as car loans in Singapore and shipping in Indonesia.
Abdul Wahid said Maybank will expand its branch network in Indonesia to 450 from 290 in order to capture growth and better serve customers.
Kencana posted net profit of RM41.5 million for the fourth quarter ended July 31, up 37% from RM30.3 million a year ago mainly due to lower expenses and better management of costs especially from the offshore services segment,
GPlus holds its AGM on Thursday and shareholders are expected to raise questions about the latest developments following Bursa Malaysia’s latest action.
Bursa Malaysia had sought court action to force GPlus to comply with the directives and consent order on the appointment of a special auditor.
The directives and consent order are with regards to the appointment of a special auditor (SA) to review the affairs of GPlus and its subsidiary companies.
