Bina Puri Holdings is undertaking a joint venture to develop a residential project in Lakehill Resort City near Masai in Johor.
The landowner will be entitled to payment of the land cost at a sum of RM21.3 million (RM20 per square foot) and 20 percent of the project profit.
The proposed joint venture will allow Bina Puri Properties to jointly develop the land and generate income to enhance shareholders’ value.
Significance: Bina Puri’s unit Bina Puri Properties is teaming up with LakeHill Resort Development, a unit of Malaysia Pacific Corporation and will be undertaking the residential housing project on the 24.4 acre site with a gross development value of RM204 million.
QL Resources Net Profit Jumps Nearly 21 Percent
QL Resources net profit widened for 4Q14 ended 31 March 2015 to RM46.7 million, increasing nearly 21 percent from RM38.6 million in 4Q13, driven by higher sales from Marine Product Manufacturing (MPM) and Integrated Livestock Farming (ILF) segments.
Revenue gained 9 percent to RM661.6 million compared to RM606.9 million, underpinned by higher contribution from Indonesia fishery and fishmeal operations as well as higher volume of feed raw materials traded and higher farm produced prices.
The group expects its 1Q15 results ending 30 June 2015 to be satisfactory.
Significance: Full year revenue jumped 10 percent to RM2.7 billion, attributable to improved performance from MPM, ILF and Palm Oil Activities (POA) segments. Full year net profit also rose 19.1 percent to RM190.5 million, with contribution from MPM, ILF and POA segments.
UMW Holdings Posts Weaker Earnings
UMW Holdings financial perforamnce for 1Q15 was dragged down by the reduced contribution from the automotive business.
Net profit fell 29.9 percent to RM165.2 million while revenue dropped 9.6 percent to RM3.3 billion.
Lower contributions from the drilling business were observed, mainly due to discounts on time charter rates given to existing clients in view of the big drop in oil price.
Significance: The company’s Toyota core vehicle models faced stiff competition from the new models launched by other players in the market. However, both heavy and industrial equipment sub-segments contributed higher revenue that led to higher profits.
http://www.sharesinv.com/articles/2015/05/27/bina-puri-qlresources-umw/
