Stocks To Watch : IOI Properties, BToto, Genting Malaysia, SCGM, Perduren, Ideal Sun City, Pan Malaysia, EA Technique
IOIPG (5249), BJTOTO (1562), GENM (4715), SCGM (7247), PRDUREN (8613), IDEAL (0081), PMHLDG (1287), EATECH (5259)
KUALA LUMPUR (Dec 18): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Dec 19) could include: IOI Properties Group Bhd , Berjaya Sports Toto Bhd, Genting Malaysia Bhd , SCGM Bhd, Perduren Bhd, Ideal Sun City Holdings Bhd, Pan Malaysia Holdings Bhd , EA Technique Bhd.
IOI Properties Group Bhd executive chairman Tan Sri Lee Shin Cheng said there are no China investors in the company, further allaying Taiwan's concern over the group's planned acquisition of a major stake in the iconic Taipei 101 tower in Taiwan.
IOI Properties is buying a 37.17% stake in Taipei Financial Center Corp, which owns the Taipei 101, for RM2.74 billion.
IOI Properties had earlier clarified that its investment in Taipei Financial had no political agenda. IOI Properties also said it would not seek management control of the skyscraper, if the deal materialises.
The issue of China investment is seen as a taboo, when it comes to foreign investments in Taiwan. This is because mainland China considers Taiwan a renegade province, due to their historical political ties.
“I can say that there is none (no China investors in IOI Properties). I have been interviewed by the Taiwan media, answered a lot of questions, so I think the issue has probably cooled down," Lee told a press conference after IOI Properties' extraordinary general meeting. Today's press conference was also Lee's first meeting with local media after the group’s planned Taipei 101 investment hit the headlines.
IOI Properties shares closed up 1 sen today to RM2.28, giving it a market capitalisation of RM7.35 billion.
Berjaya Sports Toto Bhd's (BToto) net profit jumped 20.6% to RM99.7 million in the second financial quarter ended Oct 31, 2014 (2QFY15) from RM82.6 million a year ago, on better earnings from its principal subsidiary, Sports Toto Malaysia Sdn Bhd.
Sports Toto recorded a 6.7% increase in profit due to lower prize payout despite raking in lower revenue.
The group's 2QFY15 revenue jumped 44.7% to RM1.25 billion from RM866.9 million a year earlier, mainly attributable to the consolidation of HR Owen Plc in the quarter, BToto said in its filing with Bursa Malaysia today.
The group also declared a second interim dividend of 6 sen per share, payable on Feb 13, 2015.
BToto shares closed at RM3.48 today, giving it a market capitalisation of RM4.66 billion.
Genting Malaysia Bhd said its indirect wholly-owned subsidiary RW Orange County LLC's proposal for a gaming facility in upstate New York has been rejected.
The gaming group said on Wednesday (Dec 17), the New York Gaming Facility Location Board announced that it has selected three destination gaming resorts to be considered for commercial casino licenses by the New York State Gaming Commission.
“We wish to announce that RW Orange County LLC has not been successful in its applications,” it added.
Genting Malaysia’s indirect wholly-owned subsidiary, RW Orange County, had on June 30, 2014 submitted applications to participate in the selection process for the project.
Genting Malaysia shares closed down 12 sen today to RM3.95, bringing a market capitalisation of RM22.4 billion.
SCGM Bhd, which manufactures thermo-vacuum form and vacuum plastic packaging, saw its net profit for its second financial quarter ended Oct 31, 2014(2QFY15) increase by 12.6% to RM3.04 million, from RM2.7 million a year ago, on lower input costs.
The company also benefited from the drop in fuel and commodity prices, which boosted its profitability in 2QFY15.
Revenue for 2QFY15 grew by a marginal 0.38% to RM26.12 million from RM26.02 million in 2QFY14, as sales for year-end festivities offset the general slowdown in the domestic market.
SCGM shares closed up 7 sen to RM1.74 today, bringing a market capitalisation of RM139.2 million.
Datuk Kamaluddin Abdullah and Datuk Mazlin Md Junid have emerged as substantial shareholders of Perduren Bhd, following their takeover offer of the property investment company last Monday.
Filings with the exchange showed that Kamaluddin, son of former prime minister Tun Abdullah Ahmad Badawi and a substantial shareholder of Scomi Group Bhd , now holds a 9.26% direct stake or 12.5 million shares in Perduren, in addition to an indirect 33.06% stake.
Mazlin, former president and CEO of Daya Materials Bhd , has an indirect 21.79% interest in the company.
Perduren shares closed down 8 sen to RM2.16 today, with a market capitalisation of RM291.42 million.
The property acquisitions proposed by Ideal Sun City Holdings Bhd worth RM26 million have been deemed "fair and reasonable" by TA Securities Holdings Bhd.
TA Securities is the independent adviser to Ideal Sun City's minority shareholders.
"On an overall basis, we are of the view that the proposed acquisitions are fair and reasonable and not detrimental to the non-interested shareholders," TA Securities said in a filing with Bursa Malaysia today.
It recommended that Ideal Sun City's shareholders vote in favour of the proposed acquisitions in the upcoming extraordinary general meeting.
Ideal Sun City, a project management services provider, had on Sept 9 this year proposed to acquire 46 units of stratified commercial space known as Ideal CEO Executive Suites in Penang for RM18 million from Ideal Capital Intelligence Sdn Bhd via its wholly owned unit Ideal Consortium Sdn Bhd.
Ideal Sun City shares closed up 4 sen to 47.5 sen today, with a market capitalisation of RM67.21 million.
Bursa Malaysia has slapped Pan Malaysia Holdings Bhd with an unusual market activity query on its recent share price and volume rise.
"We draw your attention to the recent rise in price and volume of your company’s shares," exchange regulator Bursa Malaysia told Pan Malaysia today.
Share prices of Pan Malaysia, which is involved in hotel and financial services, have more than doubled since last Friday (Dec 12) to current levels. The stock had climbed on news that Malayan United Industries Bhd (MUI) was selling its 69.19% stake in the company to Datuk Dr Yu Kuan Chon for RM77.12 million.
Dr Yu is the chairman and executive director of YNH Property Bhd. Upon completion, Dr Yu will see his Pan Malaysia stake rise to a controlling 74.52% from 5.33%.
The stock has soared 321% so far this year, significantly outperforming the FBM KLCI's 9% decline.
Pan Malaysia shares ended the day up 5.5 sen at 28 sen, with a market capitalisation of RM260.08 million.
Substantial shareholder Johor Corp has upped its stake in shipping firm EA Technique Bhd by acquiring 14.8 million shares or a 2.9% stake.
Following the purchase, the Johor investment arm now holds 269.8 million shares or a 53.5% equity stake in the firm.
The transaction was completed on Dec 11, the same day the firm debuted on the Main Market of Bursa Malaysia.
EA Technique shares closed up 2 sen to 49.5 sen today, bringing a market capitalisation of RM241.92 million.
http://www.theedgemarkets.com
IOIPG (5249), BJTOTO (1562), GENM (4715), SCGM (7247), PRDUREN (8613), IDEAL (0081), PMHLDG (1287), EATECH (5259)
KUALA LUMPUR (Dec 18): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Dec 19) could include: IOI Properties Group Bhd , Berjaya Sports Toto Bhd, Genting Malaysia Bhd , SCGM Bhd, Perduren Bhd, Ideal Sun City Holdings Bhd, Pan Malaysia Holdings Bhd , EA Technique Bhd.
IOI Properties Group Bhd executive chairman Tan Sri Lee Shin Cheng said there are no China investors in the company, further allaying Taiwan's concern over the group's planned acquisition of a major stake in the iconic Taipei 101 tower in Taiwan.
IOI Properties is buying a 37.17% stake in Taipei Financial Center Corp, which owns the Taipei 101, for RM2.74 billion.
IOI Properties had earlier clarified that its investment in Taipei Financial had no political agenda. IOI Properties also said it would not seek management control of the skyscraper, if the deal materialises.
The issue of China investment is seen as a taboo, when it comes to foreign investments in Taiwan. This is because mainland China considers Taiwan a renegade province, due to their historical political ties.
“I can say that there is none (no China investors in IOI Properties). I have been interviewed by the Taiwan media, answered a lot of questions, so I think the issue has probably cooled down," Lee told a press conference after IOI Properties' extraordinary general meeting. Today's press conference was also Lee's first meeting with local media after the group’s planned Taipei 101 investment hit the headlines.
IOI Properties shares closed up 1 sen today to RM2.28, giving it a market capitalisation of RM7.35 billion.
Berjaya Sports Toto Bhd's (BToto) net profit jumped 20.6% to RM99.7 million in the second financial quarter ended Oct 31, 2014 (2QFY15) from RM82.6 million a year ago, on better earnings from its principal subsidiary, Sports Toto Malaysia Sdn Bhd.
Sports Toto recorded a 6.7% increase in profit due to lower prize payout despite raking in lower revenue.
The group's 2QFY15 revenue jumped 44.7% to RM1.25 billion from RM866.9 million a year earlier, mainly attributable to the consolidation of HR Owen Plc in the quarter, BToto said in its filing with Bursa Malaysia today.
The group also declared a second interim dividend of 6 sen per share, payable on Feb 13, 2015.
BToto shares closed at RM3.48 today, giving it a market capitalisation of RM4.66 billion.
Genting Malaysia Bhd said its indirect wholly-owned subsidiary RW Orange County LLC's proposal for a gaming facility in upstate New York has been rejected.
The gaming group said on Wednesday (Dec 17), the New York Gaming Facility Location Board announced that it has selected three destination gaming resorts to be considered for commercial casino licenses by the New York State Gaming Commission.
“We wish to announce that RW Orange County LLC has not been successful in its applications,” it added.
Genting Malaysia’s indirect wholly-owned subsidiary, RW Orange County, had on June 30, 2014 submitted applications to participate in the selection process for the project.
Genting Malaysia shares closed down 12 sen today to RM3.95, bringing a market capitalisation of RM22.4 billion.
SCGM Bhd, which manufactures thermo-vacuum form and vacuum plastic packaging, saw its net profit for its second financial quarter ended Oct 31, 2014(2QFY15) increase by 12.6% to RM3.04 million, from RM2.7 million a year ago, on lower input costs.
The company also benefited from the drop in fuel and commodity prices, which boosted its profitability in 2QFY15.
Revenue for 2QFY15 grew by a marginal 0.38% to RM26.12 million from RM26.02 million in 2QFY14, as sales for year-end festivities offset the general slowdown in the domestic market.
SCGM shares closed up 7 sen to RM1.74 today, bringing a market capitalisation of RM139.2 million.
Datuk Kamaluddin Abdullah and Datuk Mazlin Md Junid have emerged as substantial shareholders of Perduren Bhd, following their takeover offer of the property investment company last Monday.
Filings with the exchange showed that Kamaluddin, son of former prime minister Tun Abdullah Ahmad Badawi and a substantial shareholder of Scomi Group Bhd , now holds a 9.26% direct stake or 12.5 million shares in Perduren, in addition to an indirect 33.06% stake.
Mazlin, former president and CEO of Daya Materials Bhd , has an indirect 21.79% interest in the company.
Perduren shares closed down 8 sen to RM2.16 today, with a market capitalisation of RM291.42 million.
The property acquisitions proposed by Ideal Sun City Holdings Bhd worth RM26 million have been deemed "fair and reasonable" by TA Securities Holdings Bhd.
TA Securities is the independent adviser to Ideal Sun City's minority shareholders.
"On an overall basis, we are of the view that the proposed acquisitions are fair and reasonable and not detrimental to the non-interested shareholders," TA Securities said in a filing with Bursa Malaysia today.
It recommended that Ideal Sun City's shareholders vote in favour of the proposed acquisitions in the upcoming extraordinary general meeting.
Ideal Sun City, a project management services provider, had on Sept 9 this year proposed to acquire 46 units of stratified commercial space known as Ideal CEO Executive Suites in Penang for RM18 million from Ideal Capital Intelligence Sdn Bhd via its wholly owned unit Ideal Consortium Sdn Bhd.
Ideal Sun City shares closed up 4 sen to 47.5 sen today, with a market capitalisation of RM67.21 million.
Bursa Malaysia has slapped Pan Malaysia Holdings Bhd with an unusual market activity query on its recent share price and volume rise.
"We draw your attention to the recent rise in price and volume of your company’s shares," exchange regulator Bursa Malaysia told Pan Malaysia today.
Share prices of Pan Malaysia, which is involved in hotel and financial services, have more than doubled since last Friday (Dec 12) to current levels. The stock had climbed on news that Malayan United Industries Bhd (MUI) was selling its 69.19% stake in the company to Datuk Dr Yu Kuan Chon for RM77.12 million.
Dr Yu is the chairman and executive director of YNH Property Bhd. Upon completion, Dr Yu will see his Pan Malaysia stake rise to a controlling 74.52% from 5.33%.
The stock has soared 321% so far this year, significantly outperforming the FBM KLCI's 9% decline.
Pan Malaysia shares ended the day up 5.5 sen at 28 sen, with a market capitalisation of RM260.08 million.
Substantial shareholder Johor Corp has upped its stake in shipping firm EA Technique Bhd by acquiring 14.8 million shares or a 2.9% stake.
Following the purchase, the Johor investment arm now holds 269.8 million shares or a 53.5% equity stake in the firm.
The transaction was completed on Dec 11, the same day the firm debuted on the Main Market of Bursa Malaysia.
EA Technique shares closed up 2 sen to 49.5 sen today, bringing a market capitalisation of RM241.92 million.
http://www.theedgemarkets.com
