CIMB Daybreak - 14 April 2015
BINTAI (6998), WILLOW (0008), DGB (0152), SDRED (2224), INGRESS (7112), BERTAM (9814), MCT (5182), AMPROP (1007), TWSPLNT (6327), MRCB (1651), PETDAG (5681), AIRASIA (5099), REDTONE (0032), KEN (7323), PCHEM (5183), DIGI (6947), TM (4863), IFCAMSC (0023), RHBCAP (1066)
BINTAI (6998), WILLOW (0008), DGB (0152), SDRED (2224), INGRESS (7112), BERTAM (9814), MCT (5182), AMPROP (1007), TWSPLNT (6327), MRCB (1651), PETDAG (5681), AIRASIA (5099), REDTONE (0032), KEN (7323), PCHEM (5183), DIGI (6947), TM (4863), IFCAMSC (0023), RHBCAP (1066)
- Bintai Kinden bidding for RM1.2b projects
April 14, 2015 11:46:00 am
Bintai Kinden Corp Bhd is bidding for RM1.2bn worth of projects in Malaysia and is working with various parties to participate in the MRT project. "We're interested in the M&E, heavy duty power (generation) part," managing director Ong Choon Lui said. Bintai Kinden has an order book of RM500m in Malaysia and S$480m (RM1.3bn) in Singapore, which will last the group for two to three years. (sun) Source: CIMB Daybreak - 14 April 2015... - Willowglen's unit get 2 contracts from Singapore's public entities board
April 14, 2015 11:46:00 am
Willowglen MSC Bhd's wholly owned subsidiary, Willowglen Services Pte Ltd has been awarded two contracts by Singapore's public entities board on April 10. The first contract is worth RM3.65m and it is for supply, installation, and commissioning of pressure and water quality sensors and construction works. In an exchange filing yesterday, it said commencement date of the contract is on April 27, 2015 and will be completed by Feb 26, 2016. Another contract worth RM5.35m is for the maintenance works of pressure and water quality sensors. The maintenance works are expected to start from Feb 27, 2016 and to be completed by Feb 26, 2021. The contracts are not renewable, the filing said. (Malaysian Reserve) Source: CIMB Daybreak - 14 April 2015... - DGB form JV with Rofarez
April 14, 2015 11:45:00 am
DGB Asia had on 10 Apr 15 entered into a Memorandum of Understanding with Rofarez Solutions (RFR) to form of a joint venture alliance into the business of distribution, implementation and service of the Cloud Based Business Solution products to various business sectors. RFR is a company involved in the developments and implementation of Cloud Based Business Solution. Ministry of Finance is a major shareholder of RFR. (BMSB) Source: CIMB Daybreak - 14 April 2015... - No post-GST price hike for Brand's products
April 14, 2015 11:44:00 am
Cerebos (M) Sdn Bhd, the producer of BRAND's products, announced that its products' prices will not increase with the implementation of the GST. BRAND's Essence of Chicken will offer its products at only RM24 and RM33 for a six-bottle pack of 42 gramme and 70 gramme respectively, while the 70 gramme 12-bottle and 14-bottle packs are priced at RM56 and RM68 respectively. (Bernama)Source: CIMB Daybreak - 14 April 2015... - Selangor Dredging to redevelop luxury homes project in Seri Kembangan
April 14, 2015 11:43:00 am
Selangor Dredging Bhd (SDB) plans to redevelop the gated Casona Luxury Homes project in Seri Kembangan, Selangor, into low to high-rise residential development. The property developer told Bursa Malaysia on Monday that it had bought three pieces of freehold land from SM Fortuneville Sdn Bhd, a unit of SM Land Sdn Bhd, for RM80m. (StarBiz) Source: CIMB Daybreak - 14 April 2015... - Ingress wins RM10.09m arbitration against YTL Power
April 14, 2015 11:43:00 am
Ingress Corp Bhd received the final award worth RM10.09m last week, in an arbitration case against YTL Power International Bhd. According to notes on the award for the case sighted by The Edge Financial Daily, Ingress' arbitrator has allowed the group's associate company Balfour Beatty Rail Sdn Bhd's claims which amount to RM10.23m against Seri Yakin Sdn Bhd, a related company of YTL Power. The note read the arbitrator has also allowed Seri Yakin's claims for the cost of cable drums and cost to complete scheduled maintenance works which amount to RM135,428. With claimed costs by Seri Yakin, the total payable amount to Balfour Beatty by the former is RM10.09m. (Financial DAily) Source: CIMB Daybreak - 14 April 2015... - Bertam Alliance Bhd : MD increases stake in firm
April 14, 2015 11:43:00 am
Bertam Alliance Bhd managing director Lim Nyjuk Foh has raised his stake in the company to 9.45%, or 19.53m shares. He bought 2.4m shares, representing 1.16% of the company's total paid-up capital, on the open market and via a cross deal on April 9 2015. (BT) Source: CIMB Daybreak - 14 April 2015... - Tabung Haji emerges as substantial shareholder in MCT
April 14, 2015 11:42:00 am
Pilgrim fund Lembaga Tabung Haji has become a substantial shareholder in MCT Bhd after acquiring 134.19m shares of 10.05% in the company. The purchase was made on April 1. The property developer had just recently executed a reverse takeover of GW Plastics Holdings Bhd with its major shareholder being the plastic packaging manufacturer's deputy executive chairman, Tan Sri Goh Ming Soon, with 42.68% stake. (BT) Source: CIMB Daybreak - 14 April 2015... - AmProp Confirms Venture In Tokyo
April 14, 2015 11:42:00 am
Amcorp Properties (AmProp) has clarified that Forest Nanpeidai, a property in Tokyo, was acquired in Jan 2015 by a special purpose vehicle (SPV). AmProp said the SPV was set-up pursuant to the Co-Investment Agreement entered into by AmProp through its wholly-owned unit, Amcorp Far East Ltd, with Grosvenor Asia Pacific Ltd, NRJ Investment Ltd and True Lead Investment Ltd. The execution of the Co-Investment Agreement was announced by AmProp on 17 Apr 2014. AmProp made the clarification following a report that it is expected to announce soon its first property investment and development in Tokyo. (Bernama) Source: CIMB Daybreak - 14 April 2015... - Tradewinds to become 'major property player'
April 14, 2015 11:41:00 am
Tradewinds Corp is gearing up to become a major property player under new MD Datuk Azhar Abdul Hamid. The company will be looking to develop some 800ha of prime land it owns in Johor, Kuala Lumpur, Selangor and Penang. Tradewinds' core business is travel and managing of hotels and resorts. Azhar stepped into the MD post on Apr 1, after he resigned his CEO post at MRT Corp Sdn Bhd earlier this year. He said his first job is to bring value to all the projects that are already being undertaken by the company. (Malaysian Reserve)Source: CIMB Daybreak - 14 April 2015... - Natural rubber exports decline 25% to 55,805 tonnes in Feb
April 14, 2015 11:40:00 am
Malaysia's natural rubber (NR) exports in Feb 15 dropped by 25% to 55,805 tonnes from the corresponding month last year, the Statistics Department said. The department said Standard Malaysian Rubber (SMR) contributed 94.1% of the total NR exports. The commodity was exported mainly to China (44.6%) followed by Germany (14.4%), the US (7.1%), Iran (4.6%), South Korea (2.9%), Brazil (4.1%), Turkey (1.9%), Finland (3.1%), and Portugal (1.7%), it said. The imports of NR in Feb 15 increased by 2.5% to 64,944 tonnes compared with 63,337 tonnes a year ago. The production of NR rose by 1.4% in Feb 15 to 74,469 tonnes. (Bernama) Source: CIMB Daybreak - 14 April 2015... - Palm seen trading at RM2,100-2,300 till May, says Mistry
April 14, 2015 11:39:00 am
Palm prices will likely trade between RM2,100 (US$573) and RM2,300 until May, leading vegetable oil analyst Dorab Mistry said on Monday, cutting an earlier estimate by as much as 16% due to poor demand and slow take-up for biofuels. Malaysian palm prices, which set the tone for global prices, have fallen more than 6% this year as record harvests of rival oilseeds and weak crude oil prices dented appetite for palm in both the food and fuel sectors.Indonesia's failure to fully implement a 10% biodiesel mandate has left investors uncertain about whether the top producer can consume an expected 2.5-3.0m tonnes of palm-biodiesel by the end of 2015, despite new policies to boost the sector. "The market is in no mood to take Indonesian promises at face value," Mistry said in the text of a speech delivered by video at an oilseeds conference in Beijing on Monday."Prices may rally whenever Indonesia calls its first biodiesel tender under the new rules. However, my suspicion is that each rally will be vigorously sold," he added. As inventories and output begin to climb, palm prices may sink to RM1,900 in the second half of 2015, Mistry said, based on the assumption that Brent crude prices are trading between US$50 and US$70 a barrel. (Reuters) Source: CIMB Daybreak - 14 April 2015... - Malakoff is likely to be listed 3-4 weeks after the launch of its prospectus
April 14, 2015 11:39:00 am
Malakoff Corp Bhd, Malaysia's largest independent power producer by generation capacity, is likely to be listed on Bursa Malaysia three to four weeks after the launch of its prospectus on Friday, parent MMC Corp Bhd said. MMC group managing director Datuk Seri Che Khalib Mohamad Nor said the softer market outlook for the second quarter would not impact the planned RM2.74bn initial public offering (IPO) due to the strong interest from investors. "so far, the response is strong and the expected softer market in the second quarter of this year will not affect the listing," Che Khalib told Business Times yesterday. (Business Times) Source: CIMB Daybreak - 14 April 2015... - MRCB submits bid to buy French embassy land
April 14, 2015 11:38:00 am
MRCB is still awaiting the outcome of a tender it had submitted for the acquisition of a French Embassy land in Jalan Ampang. "We will make the announcement to Bursa Malaysia in accordance with the listing requirements, as and when required," it said. MRCB said it submitted the tender on Feb 12, 2015. The GLC was responding to a report that was said to be in the lead to acquire the 3.19ha land the embassy is disposing off through a competitive tender. Quoting sources, the report said the embassy land, comprising two parcels, would be sold at RM3,188 per sq ft and the acquisition would cost MRCB about RM1.1bn. (Bernama) Source: CIMB Daybreak - 14 April 2015... - Petronas Dagangan Launches 'WAYS2WIN' Campaign To Reward Loyal Customers
April 14, 2015 11:37:00 am
Petronas Dagangan has launched a new two-month campaign, "Ways2Win", to add value to purchases for fuel or goods from its Mesra convenience stores at petrol stations.The campaign gives consumers the freedom to choose how they want to be rewarded, whether through instant redemption or the chance to win three years' worth of fuel via a competition, being held in conjunction with the campaign. MD/CEO Mohd Ibrahimnuddin Mohd Yunus said the campaign is part of the company's ongoing year-long effort to add value and reward loyal consumers. He said with a minimum spend of RM40 at Petronas's petrol stations or Mesra convenience stores nationwide, customers can choose to get the instant redemptions at Petronas Dagangan's partners, Starbucks and Baskin-Robbins. Kentucky Fried Chicken and Ayamas redemptions are only available in Peninsular Malaysia. (Bernama) Source: CIMB Daybreak - 14 April 2015... - AirAsia to list Indonesia, Philippines units
April 14, 2015 11:37:00 am
AirAsia Bhd will list its Indonesia and Philippines businesses, group CEO Tony Fernandes said on Monday, without giving any timeline or value for the exercise. The plan for both IPOs will depend on getting the respective board approvals, Fernandes said on Twitter. He said business in both the Philippines and Indonesia was doing very well, with great support from both governments."We can confirm today that AirAsia Indonesia and AirAsia Philippines will be IPO. Subject to respective board approvals," Fernandes said. AirAsia owns 49% of Indonesia AirAsia and 40% of AirAsia Philippines. AirAsia aborted a plan to list its Indonesian arm last year as the unit was performing poorly, Fernandes was quoted saying previously by local media. (Malaysian Insider) Source: CIMB Daybreak - 14 April 2015... - Record sales for Mitsubishi cars
April 14, 2015 11:35:00 am
Mitsubishi Motors Malaysia (MMM) has hit record high sales of 14,184 units for FY3/14. This represented yoy sales growth of 12.8% and MMM's highest annual sales since its set-up in Jan 05. The record performance was partly due to the sale of its first locally assembled vehicle in Malaysia, Mitsubishi ASX. The ASX contributed 23% of MMM's sales in FY14, while the Triton pick-up truck accounted for 42% of sales. (StarBiz) Source: CIMB Daybreak - 14 April 2015... - Redtone's managed ICT value-added services to be main drivers of growth
April 14, 2015 11:34:00 am
REDtone International’s managed information communications technology value-added services and solutions are expected to be the company’s main growth drivers moving forward. Its CEO, Lau Bik Soon, said the company targeted to increase contribution from this segment to group revenue to 30% in the next three to four years. REDtone said the company was set to expand its footprint to South-East Asia.“The expansion will start with Indonesia following a memorandum of understanding signed by its unit, REDtone Data Centre Bhd, with PT Sigma Cipta Caraka (TelkomSigma),” it said. TelkomSigma is a leading end-to-end information technology solutions and data centre services company in Indonesia. (BT, Bernama) Source: CIMB Daybreak - 14 April 2015... - Ken Holdings aims sustainable earnings from Menara Ken @ TTDI
April 14, 2015 11:34:00 am
Property developer, Ken Holdings, expects its Menara Ken @TTDI project to contribute sustainable earnings of over RM10m yearly, says group executive chairman, Datuk Tan Boon Kang. He said the income would be secured from renting the double platinum corporate offices, which were scheduled to be completed by year-end. "The building, among others, comprises platinum-grade office spaces, art gallery, performing arts theatre and a variety of food and beverages outlets," Tan said.The Menara Ken@TTDI has received awards for its sustainable design, architecture and green features. He said the property developer would kick-start another project in Kota Baharu, Kelantan by year-end. With a gross development value of between RM70m and RM80m, the project would involve service apartments and a 150-room hotel, just next to the Kota Baharu Mall, he said. "We will also be working on our Ken Rimba 2 project by year-end or early next year," he said, adding that the it would be a 240-unit condominium at Shah Alam.At the moment, the company has a landbank of 40.47 hectares in Pahang, Melaka, Penang, Perak and Johor Baharu, coupled with unbilled sales of RM230m. For financial year ended 31 Dec 14 its revenue rose by 63.3% to RM91.1m from RM55.8m a year ago. Its pre-tax profit increased by 53.1% to RM43.7m from RM28.3m the previous year. (Bernama)Source: CIMB Daybreak - 14 April 2015... - Petronas Chemicals plans RM3b capex this year |
April 14, 2015 11:32:00 am
Petronas Chemicals Group Bhd (PCG) has set aside RM3bn in capital expenditure (capex) for 2015, of which bulk of it will be for the Sabah Ammonia Urea (Samur) project. "The Samur project is expected to be completed and commissioned by the end of the first quarter of 2016. Upon completion, PCG will be the second largest urea producer in the region," chairman Wan Zulkiflee Wan Ariffin said. For now, the Samur project has been 90% completed. (sun)Source: CIMB Daybreak - 14 April 2015... - Celcom offers moble fund remittance service
April 14, 2015 11:31:00 am
Celcom Axiata is offering its customers the convenience of using mobile phones to remit money via a remittance service, Doowit. It said the service facilitates the transfer of funds in a quick, secure and hassle free-way, through their mobile phones from anywhere and anytime. Chief Marketing and Sales Officer Zalman Aefendy Zainal Abidin said customers can be assured that this is a secure mode and a useful financial tool, especially for foreign workers, who may grapple with limited time and work irregular hours. (BT, Bernama) Source: CIMB Daybreak - 14 April 2015... - Digi names chief network and IT officers
April 14, 2015 11:31:00 am
Digi Communications Sdn Bhd has appointed Kesavan Sivabalan chief network officer (CNO) and Orsolya Sekerka as chief IT officer (CIO) with immediate effect. Sivabalan is a telecommunications executive with 20 years of industry experience across Asian and Asia Pacific markets, while Sekerka’s experience is in managing IT development projects and operations. “I believe the organisational changes we are putting in place will give us the edge to be even more focused in driving enhanced efficiencies and execute sharply on business critical initiatives, and solidify our overall core competencies to deliver strongly to our 11m growing customers and in achieving our long-term ambition to be the leading mobile internet provider for mass market,” its CEO Albern Murty said. (StarBiz) Source: CIMB Daybreak - 14 April 2015... - TM and Digi launch new mobile app
April 14, 2015 11:31:00 am
Telekom Malaysia (TM) and DiGi Telecommunications launched HyppTV Everywhere, based on TM's IPTV offerings to DiGi subscribers. The collaboration is based on a revenue-share model. Under the deal, DIGi prepaid and postpaid customers can download the HyppTV Everywhere application and access TM's IPTV programming for between RM10 and RM15 per month, without any data charge. They can watch HyppTV Everywhere's selection of TV programming until the end of the promotional period on 30 June. Data charges will apply from July onwards. (BT) Source: CIMB Daybreak - 14 April 2015... - The world's top software stock is surging in Kuala Lumpur
April 14, 2015 11:30:00 am
Forget Silicon Valley, Tel Aviv and Bangalore. To find the world's top-performing software company, you have to go somewhere that few would think to look for winning investments in the technology industry - Kuala Lumpur. Better known as the home of state-owned energy giant Petronas, it's also where shares of IFCA MSC, a maker of cloud-based software for property companies, have jumped 14-fold over the past 12 months.IFCA's earnings are surging just as fast as its stock after the company took an 80% market share among Malaysian developers and began expanding into China, where early adopters of its sales tracking and payment processing software include billionaire Wang Jianlin's Dalian Wanda Group Co. IFCA has about 100 clients in China, where the National Bureau of Statistics estimates there were more than 90,000 real estate companies as of 2013. "The growth in China is incredible," CEO Ken Yong Keang Cheun said. He plans to double the number of IFCA offices in the country to 16 by the end of this year. IFCA plans to boost recurring income by introducing a software rental service that would make its offering more affordable for customers via monthly subscriptions. The firm also plans to set up a property listing website by year-end. (Bloomberg, BT)Source: CIMB Daybreak - 14 April 2015... - RHB Capital to restructure and raise RM2.5bn
April 14, 2015 11:20:00 am
RHB Capital Bhd (RHBCap) is planning a rights issue to raise up to RM2.5bn under a proposed restructuring that will see the RHB Banking Group moving towards a "bank holding company" structure, in line with major banking groups across Asean. "The proposed rights issue will enable the company to raise funds to further strengthen the capital position of RHB Bank, via the capital injection, to support the continuous business growth of RHB Bank Group and meeting the requirements of Basel III," it told Bursa Malaysia.RHBCap is also planning to transfer its listing status to RHB Bank under a proposed distribution and capital repayment exercise to "enable RHB Bank Group to gain direct access to the capital markets to raise funds for its continued growth". Please refer to our note for more details.Source: CIMB Daybreak - 14 April 2015...
