CIMB Daybreak - 15 April 2015
BIOHLDG (0179), DGB (0152), ASIAPLY (0105), LAYHONG (9385), BSTEAD (2771), KULIM (2003), CMSB (2852), GENTING (3182), SKPETRO (5218), TENAGA (5347), PBBANK (1295), BENALEC (5190), PESTECH (5219), IFCAMSC (0023), ARMADA (5210)
BIOHLDG (0179), DGB (0152), ASIAPLY (0105), LAYHONG (9385), BSTEAD (2771), KULIM (2003), CMSB (2852), GENTING (3182), SKPETRO (5218), TENAGA (5347), PBBANK (1295), BENALEC (5190), PESTECH (5219), IFCAMSC (0023), ARMADA (5210)
- Bioalpha gains 35% on Bursa debut
April 15, 2015 11:01:00 am
Integrated herbal supplements company Bioalpha Holdings Bhd made a stellar debut yesterday on its first listing of the year with a gain of 35%. ACE Market-listed Bioalpha is 51.4%-owned by the Finance Ministry, of which a 22.4% is held via Khazanah Nasional Bhd. (sun) Source: CIMB Daybreak - 15 April 2015... - DGB Asia jumps on GST software bandwagon
April 15, 2015 11:00:00 am
DGB Asia Bhd said its joint venture with Ministry of Finance (MoF)-controlled Rofarez Solutions Sdn Bhd is related to an investment on developing goods and services tax (GST) software, which is expected to bring additional multi-million ringgit profits to the group. Targeted at the oil and gas, healthcare, financial and industrial sectors, DGB managing director Datuk Pang Chow Huat said the biggest advantage of using this new GST software is that it has a direct link to customs. (Sun) Source: CIMB Daybreak - 15 April 2015... - Asia Poly gets new owner
April 15, 2015 11:00:00 am
The single largest shareholder in Asia Poly Holdings Bhd, Tan Sri Lim Tong Yong, has ceased to be a shareholder in the manufacturer of cast acrylic sheets after selling his entire stake of 27.61% in the company for some RM12m. Market data show that 25m shares or 27.61% were crossed at 43 sen each on Monday and according to a source familiar with the transaction, the shares which belonged to Lim, a former CEO of hospital group Pantai Holdings, were sold to businessman Datuk Yeo Boon Leong. (StarBiz) Source: CIMB Daybreak - 15 April 2015... - Najib launches Bank of China
April 15, 2015 10:59:00 am
Prime Minister Datuk Seri Najib Tun Razak today launched the Bank of China as the renminbi clearing bank in Kuala Lumpur to facilitate and reduce the cost of doing business here. Malaysia is the second country after Singapore in ASEAN to establish a renminbi clearing bank with China. Prior to the agreement, conversion of the ringgit into yuan would need to be first converted into the US dollar and then thereafter to the renminbi. With a clearing house in Malaysia, the ringgit can be directly converted to yuan, hence reducing the cost of transaction. (Bernama) Source: CIMB Daybreak - 15 April 2015... - Lay Hong shares can only be placed out to institutional investors
April 15, 2015 10:54:00 am
Lay Hong Bhd, which last month decided to halve the size of its planned private placement following a major shareholder’s protest, can only place out the shares to institutional investors. The company said on Tuesday that Bursa Securities imposed that as one of the conditions for approving the exercise. The securities exchange operator also requires the submission of the identified placees for its clearance. On Mar 30, Lay Hong announced that the private placement proposed in February had been revised downwards to a maximum of 7.624 million new RM1 shares, representing 15% of its existing paid-up capital (excluding treasury shares). (StarBiz) Source: CIMB Daybreak - 15 April 2015... - EPF sells London property to British Land for over RM1b
April 15, 2015 10:53:00 am
The Employees Provident Fund (EPF) has sold One Sheldon Square in London for £210m (RM1.14bn), fetching a good premium for one of its earliest investments in the English capital city’s booming commercial property. EPF paid £156m back in 2010 to acquire the nine-storey office block. The 200,000sf building is fully let out to Visa Europe Services until Dec 2022 with a rent review in Dec 2017. “British Land Co plc won the bid through an open tender process designed in accordance with the fund’s strict corporate governance as well as adherence to the industry’s practices,” EPF said in a statement yesterday. (StarBiz) Source: CIMB Daybreak - 15 April 2015... - Govt to roll out two electricity tariffs via eTOU mechanism
April 15, 2015 10:53:00 am
The government plans to roll out two electric tariffs through enhanced Time of Use (eTOU) mechanism in the industrial sector nationwide by year-end. The Ministry of Energy, Green Technology and Water (KeTTHA) said eTOU would be implemented first in the industrial sector as it has higher energy consumption in the country before introducing to all consumersIts Deputy Secretary-General (Energy), Datuk Dr Nadzri Yahaya, said this would enable the industrial manufacturing process to efficiently use use energy at night compared to the morning and to mitigate against higher electricity bills. "Studies are still being done for this mechanism but the concept is the same as in Japan. We plan to maintain electricity rates during the day and lower them at night. "If the research was successful, the mechanism would be implemented in Melaka and Putrajaya as they have the infrastructure in place. (Bernama) Source: CIMB Daybreak - 15 April 2015... - Boustead injects RM199m into Irat Properties, takes control of AES
April 15, 2015 10:51:00 am
Boustead Holdings Bhd is injecting RM199m cash for a 50% stake in Irat Properties Sdn Bhd, which in turn is taking control of two companies involved in the automated enforcement system (AES). The company said on Tuesday it was buying 93.3m Irat shares – comprising of 60m new Irat shares for RM128m cash and an additional 33.3m new Irat shares at RM2.13 each for RM71m. The remaining 50% equity interest in Irat is held by existing shareholders, LTAT and Irat Holdings Sdn Bhd. Boustead Holdings deputy chairman and group managing director Tan Sri Lodin Wok Kamaruddin said with this viable acquisition, the group was set to strengthen its earnings potential. “We are especially positive on our prospects in the property sector given the fact that this acquisition includes two properties in the heart of Kuala Lumpur, namely the Chulan Tower Office Block and The Royale Chulan Kuala Lumpur Hotel valued at a total of RM508mil,” he said. (StarBiz) Source: CIMB Daybreak - 15 April 2015... - Kulim International Airport's proposal is expected to be submitted to the government at the end of this year
April 15, 2015 10:49:00 am
The study on the proposed RM1.6bn Kulim International Airport is expected to be submitted to the government at the end of this year, after which the project would be approved if proven feasible, The project was slated to start by reclaiming 600ha of rubber estates. The basic airport infrastructure plus two runways is expected to cost about RM1.6bn. (Malaysian Reserve)Source: CIMB Daybreak - 15 April 2015... - Cahya Mata Sarawak wins RM308m contract to build new state museum
April 15, 2015 10:48:00 am
Cahya Mata Sarawak Bhd, through unit CMS Works Sdn Bhd’s subsidiary PPES Works (Sarawak) Sdn Bhd, has won the contract to build the proposed Sarawak Museum Campus and Heritage Trail, Kuching, for RM308m. The company said on Tuesday that the project, awarded by the Sarawak government, comprised the design, construction, fitting out and exhibitory for a world-class museum and an adjoining annexe building with a combined floor space of 30,000 sq m. (StarBiz) Source: CIMB Daybreak - 15 April 2015... - Oppenheimer Developing Markets Fund has emerged as Genting's substantial shareholder
April 15, 2015 10:46:00 am
US-based Oppenheimer Developing Markets Fund has emerged as a substantial shareholder of Genting Bhd at 5.3% after it acquired 23.8m shares in Genting last Wednesday, 8 Apr 2015. This brings its total interest to 196.2m shares. (Bursa Malaysia)Source: CIMB Daybreak - 15 April 2015... - O&G veteran Muhamad Noor joins SapuraKencana's board
April 15, 2015 10:45:00 am
SapuraKencana has appointed Datuk Muhamad Noor Hamid, 63, as an independent non-executive director. He has more than 30 years of direct working experience in the oil & gas industry, ranging from project planning and implementation, operations, consultation and contracts. He also held numerous positions during his 20 years of service in Petronas. He is currently a non-independent non-executive director of Malakoff. (BMSB)Source: CIMB Daybreak - 15 April 2015... - TNB's Manjung 4 now online, adds 1000MW to national grid
April 15, 2015 10:44:00 am
Tenaga Nasional Bhd (TNB) announced that its new coal-fired power plant in Manjung, Perak — dubbed “Manjung 4” — has begun commercial operations from midnight April 13 and will transmit an additional 1,000 megawatt (MW) into the national grid. TNB said the plant was commissioned just five hours after receiving the Commissioning Test Certificate from the Energy Commission. “The plant has met all the required tests and is currently running within the expected operating parameters. The 1,000MW of power generated, equivalent to the electricity needs of 2m domestic users, will contribute towards further stability of the grid system and enhance reliability of supply,” said Shamsul Ahmad, the managing director of the group’s wholly-owned subsidiary TNB Janamanjung Sdn Bhd. (The Edge)Source: CIMB Daybreak - 15 April 2015... - RAM Ratings reaffirms Public Bank's AAA ratings
April 15, 2015 10:43:00 am
RAM Rating Services has reaffirmed Public Bank Bhd’s AAA/Stable/P1 financial institution ratings. “Public Bank’s ratings reflect its superior asset quality, solid profit track record, strong capitalisation as well as entrenched franchise in the consumer and small and medium enterprises (SME) markets,” it said. (Starbiz)Source: CIMB Daybreak - 15 April 2015... - Malaysia is raising US$2bn in the bond market
April 15, 2015 10:41:00 am
Malaysia is raising US$2bn (RM7.4bn) in the bond market as it seeks to defend the ringgit, Bloomberg reports. The ringgit – the region’s worst performing currency – has lost almost 15% in value against the dollar since June and Malaysia’s foreign reserves plunged to US$105bn at the end of March, a US$25bn drop from a year ago. Putrajaya had reportedly appointed HSBC Holdings, CIMB Group and Standard Chartered to arrange the sovereign sale, which might be finalised as soon as this week, the business news portal quoted sources as saying. (Malaysian Insider)Source: CIMB Daybreak - 15 April 2015... - Benalec MOU with Pestech for power supply infrastructure job in Johor
April 15, 2015 10:40:00 am
Benalec Holdings Bhd, which is reclaiming land in Johor which will be developed into an integrated petroleum and petrochemical hub, has signed a memorandum of understanding (MoU) with Pestech International Bhd for the power supply infrastructure. The marine construction firm said that Benalec Sdn Bhd, via its unit Tanjung Piai Maritime Industries Sdn Bhd (TPMISB), had entered into an MoU with Pestech International’s unit Pestech Sdn Bhd (PSB) for exclusive exploratory efforts to establish power supply infrastructure to the Tanjung Piai Integrated Petroleum and Maritime Industrial Park.TPMISB, which plans to develop the 3,485-acre industrial park, and PSB will begin discussions and form a definitive contract within six months on an exclusive basis from the date of the MoU or such further period(s) as may be mutually agreed on by the parties. (StarBiz)Source: CIMB Daybreak - 15 April 2015... - IFCA to launch SaaS service in Jun 2015
April 15, 2015 10:39:00 am
IFCA MSC expects to sustain its strong growth momentum in 2015, driven by the launch of new cloud-based solutions for small and medium enterprises (SMEs), and high growth from the China market. "There is still huge potential for us to grow our recurring income as we launch our software as a service (SaaS) in June, which is designed specifically for the SMEs," IFCA CEO Ken Yong Keang Cheun said. "SMEs can subscribe to our software services by paying a monthly subscription fee of RM4,000 to RM5,000 instead of forking out hundreds of thousands of ringgit upfront," said Yong. The group will launch four SaaS products this year, covering business accounting solutions for contracting business, standard operating procedures, marketing and contract management. Yong said IFCA will not restrict itself to the property industry but will expand its services in the information technology, construction and engineering sectors. This year, IFCA is also banking on its growth from its China market. "It is business as usual in China. Our existing business is growth there and we plan to open eight to 10 offices in China this year," he said. The group has caught the attention of institutional investors, which currently hold a combined 20% stake. Yong said he will be participating in roadshows to further promote IFCA to fund managers in Hong Kong and Singapore. (Financial Daily)SaaS is the next growth area for the company. With monthly subscription fee of only RM4,000-RM5,000, SaaS is targeting the smaller-based property companies and it would not cannibalize existing sales to the bigger property developers. In our earnings forecast, we have not assumed any earnings from SaaS.Source: CIMB Daybreak - 15 April 2015... - Bumi Armada in JV with ElectroGas Malta for FSU project at Delimara, Malta
April 15, 2015 10:36:00 am
Bumi Armada has entered into agreements with ElectroGas Malta for the conversion, supply and operations and maintenance of a floating storage unit (FSU) for the project relating to the construction and operation of an LNG receiving terminal located at Delimara, Malta. The effective date of the contracts is 13 Apr 2015 for a firm period of 18 years and two months. The estimated aggregate value of the contracts is approximately US$300m (RM1.1bn). The FSU is expected to commence operations in the Delimara, Malta in 2016. (BMSB) With an average contract value of RM61m p.a., the contract is small but a positive surprise nevertheless. It gives Bumi Armada a new long-term income stream and boosts the order book by 4.5% to an estimated RM25.6bn, a new high.Source: CIMB Daybreak - 15 April 2015...
