Daibochi Plastic and Packaging Industry is making inroads into the medical glove and electronic sectors. It expects to record maiden revenue from the new sectors in the current financial year ending December 2012. Daibochi managing director Thomas Lim is optimistic about the group's performance this year. He said the company will continue to target potential customers in Australia, as well as multinational customers in the F&B sector. "We hope to begin supplying flexible packaging to them this year," he said. He also added that Daibochi had made significant progress in the past financial year, in testing and certifying its flexible packaging with local medical gloves and electronics manufacturers abroad. (BT)
Malaysia Airports Holdings (MAHB) is in negotiations with Russia's S7 Airlines to commence flights into Kuala Lumpur. It is understood that the airline will either depart from Novosibirsk or Khaborosk. Tourism Minister Datuk Seri Ng Yen Yen said that this would add to Transaero Airlines flights from Russia which started to ply the Moscow-Kuala Lumpur route once a week from December 30 last year. Transaero will increase its frequency to twice a week from March this year. Ng said that Malaysia hit a record tourist arrival number of 24.7m in 2011, but missed its target of 25m. Both the ministry and Tourism Malaysia have set a very conservative and exact 25m target for 2012, largely attributable to flight cancellations by Malaysia Airlines and AirAsia X. (BT)
UMW Toyota, the country's exclusive distributor for Toyota vehicles, said the Japanese carmaker is mulling the idea of assembling hybrid cars or manufacturing its components in Malaysia. UMW Toyota president Ismet Suki said the plan will depend on the potential market volume and the National Automotive Policy (NAP). (Malaysian Reserve)
Not only has the award of the Electrified Double Tracking Project (EDTP) for the Gemas to Johor Baru link been delayed, it has unintentionally drawn controversy. A press report alluded that there has been a bit of chopping and changing by the authorities here on which party is to be awarded the main job for building the double track. The 200km project costing about RM8bn, is the only portion of the North-South double-track railway project that is still unawarded. The main contractor for the project will be one of three shortlisted Chinese companies, namely, China Railyway Engineering Co, China Railway Construction Co and China Communication Construction Co. All three are subsidiaries of China’s Ministry of Railway. Perhaps the Malaysian government ought to consider having a strong local party to become the project delivery partner (PDP) for the project. This would mitigate risks of delays and cost overruns, and, still fulfill the government-to-government agreement of having a Chinese party as the main contractor. (Star)
RHB Capital has Malaysia's wealthy Chinese community firmly in its sights. And part of its strategy to gain a bigger share of that lucrative market is to merge with OSK Investment Bank to create the country's largest stockbroker. Separately, RHB is also seeking approval to acquire private Indonesian lender, Bank Mestika. (TODAYonline)
Dialog Group has incorporated Pengerang LNG Sdn Bhd and Pengerang Terminals (Two) Sdn Bhd. Pengerang LNG will undertake LNG terminal storage facilities, regasification of LNG into natural gas and handling services while Pengerang Terminals (Two) will cover terminal storage facilities for petroleum and petrochemicals. (BMSB)
UMW Toyota targets to sell 5,000 units of hybrid cars this year bolstered by increasing consumer awareness and ongoing tax incentives for hybrid vehicles. UMW had targeted sales of 1,500 units for the new improved third-generation Prius and 2,500 units for the Prius C this year. (Bernama)
Dataprep Holdings says it has secured a five-year contract to design an information and communication technology (ICT) master plan for a "world-class" ski resort in China. Initially, Dataprep will be paid US$0.23m (RM0.7m) to provide the job for 3rd Valley (Zhangjiakou) Resort Corp (3VRC). 3VRC is developing the integrated resort project which will include a world-class ski resort covering an area of 100 sq km to be built over several years. The deal was executed on Feb 6 via Dataprep's wholly-owned DP International Pte Ltd. Dataprep will design ICT master plan for 3VRC's entire Secret Garden Resorts development in Chongli. It will get a further 6% fee on all contracts awarded for 20 ICT packages of the resort development. "The value of these 20 ICT packages will be determined at a later stage when Request For Proposals are obtained from selected vendors for the best bids," Dataprep said. This is a related party transaction as Lim is a major shareholder and director of VXL Capital Partners Corp Ltd, which has an indirect 44.9% stake in 3VRC. (BT)
Iris Corp Bhd’s wholly-owned subsidiary, Iris Land Sdn Bhd, has entered into a teaming agreement with Kida Maru Holdings Ltd for a housing project in Port Moresby, Papua New Guinea (PNG), worth RM160m. Kida Maru owns 14.75ha of land in Section Granville in Port Moresby with a valid developer’s licence. It will jointly assist Iris Land in the development of the project that includes developing 275 units of houses. (BT)
Consumer electronics distributor Compugates Holdings Bhd plans to diversify into timber business in the Asia Pacific to widen its income base. For a start, the group, which recently ventured into solar power business, is in talks with government agencies in Perak to secure two logging concessions in the state. A source close to the company said the company was planning to secure timber concessions relating to two plots of forestry land, measuring about 85ha each, with timber valued at between RM40-50m in each plot. It is understood that Compugates is in the process of applying for the logging licences. The source said away from home, Compugates was looking for logging concessions in Indonesia and Papua New Guinea, among others. (BT)
Oil and gas (O&G) support services provider Yinson Holdings Bhd will not phase out its current trucking business as it fully supports the company's overall trading business segment. Executive director Lim Chern Yuan said it has about 200 trucks, with 30% of them deployed for the O&G segment while the rest for its in-house cargo. In terms of expansion, Lim said for now the company has no plans to increase its trucking assets, but will outsource if it is required to do so. (Financial Daily)
United Plantations Bhd expects 2012 to be a tougher year than 2011 following the changes in Indonesian export tax which could place Malaysian refineries at a disadvantage. The company was hit by the drop in crude palm oil (CPO) prices, and saw its fourth-quarter net profit decrease almost 11% to RM73.1m from RM81.8m in the previous corresponding quarter. The company expects vegetable oil prices to be further dampened by the continuation of the European debt crisis (Malaysian Reserve).
Cypark Resources Bhd’s share price reached its highest level in six months on anticipation of the launch of its 80ha integrated renewable energy (RE) plant, the first and largest in Southeast Asia, next month. Cypark plans to open another six solar farms across the country to bring its total capacity to 33MW of electricity. (Financial Daily)
Mitrajaya unit bags deals worth RM181m
Mitrajaya Holding’s (MHB) wholly owned unit, Pembinaan Mitrajaya SB (PMSB), yesterday secured three contracts worth RM181.4m. The contracts were awarded by Syarikat Prasarana Negara (SPNB) and Putrajaya Holdings SB. PMSB was appointed as nominated sub-contractor by SPNB for the extension of Kelana Jaya and Ampang light rail transit lines worth RM46.8m and RM55.2m respectively. It is also the main contractor for the development of 560 units of medium-cost public apartments inclusive of common facilities and eight units of shop offices at Zone 12E and 12F, Precinct 11 in Putrajaya for RM79.4m. (BT)
Notion VTec proposes bonus issue, free warrants
Notion VTec which posted net losses of RM4.8m in the 1Q ended 31 Dec 2011, proposed a bonus issue of up to 138.9m new shares on the basis of three new shares for every four shares held. The company also proposed to issue up to 46.3m free warrants (Warrants-B) on the basis of one Warrant-B for every four existing shares held by the shareholders. (Financial Daily) –See accompanying report
MAHB in talks with Russian airline
Malaysia Airports Holdings (MAHB) is in negotiations with Russia's S7 Airlines to commence flights into Kuala Lumpur. It is understood that the airline will either depart from Novosibirsk or Khaborosk. Tourism Minister Datuk Seri Ng Yen Yen, who revealed this at a press conference recently, said that this would add to Transaero Airlines flights from Russia which started to ply the Moscow-Kuala Lumpur route once a week from 30 December last year. Transaero will increase its frequency to twice a week from March this year. (BT)
Nilai Resources gets capital repayment request
Nilai Resources Group has received a letter from its major shareholders to undertake a selective capital repayment exercise. In a filing with Bursa Malaysia, Nilai said its board of directors has received a letter from Akarmas SB and Tan Sri Datuk Dr Gan Kong Seng to undertake a capital repayment exercise pursuant to Section 64 of the Companies Act, 1965. Gan is the executive chairman of Nilai Resources while Akarmas held more than 60m shares, or a 54.8% stake in the company. (StarBiz)
Bursa issues query over high share price and trading volume of Green Ocean
Bursa Malaysia has stopped the trading in Green Ocean Corp Bhd's shares less than half an hour before the market closed due to unusual market activity earlier in the day. Bursa has questioned the ACE Market-listed company over the conspicuous increase in its share price and high trading volume. Its share price soared 13.3% from 22.5 sen to 25.5 sen within the first half of yesterday's trading. It halted trading at 4.34pm yesterday 11.1% higher than a day ago at 25 sen. It was the most actively traded stock with 58.8m shares changing hands. (StarBiz)
Sime Darby close to sealing fruitful South Korean deal
Sime Darby is close to signing a distribution agreement with CJ Cheilingjedang Corp, South Korea’s largest food maker by market value. Business Times understands that talks between both parties are at a very advance stage, and if fruitful, a concrete agreement could be signed by the first week of March. The agreement is to supply Novelin cooking oil to the South Korea market in which Green Ocean Corp has the sole rights to use Malaysian Palm Oil Board’s (MPOB) Novelin technology for a 20-year period. (BT)
TNB not raising stake in Integrax
Tenaga Nasional Bhd does not have any plan to increase its 22% stake in port operator Integrax Bhd, said president and chief executive officer Datuk Seri Che Khalib Mohamad Nor. This clears the air on speculation that TNB, which had some disagreements with Integrax over board-room appointments, had wanted to increase its stake and planned to take the port private.(StarBizWeek)
Gas Malaysia listing deferred to 2Q
MMC Corp expects the proposed listing of its associate, Gas Malaysia, to take place in the second quarter of the year as it seeks to comply with conditions imposed by Securities Commission, the engineering and logistics giant said in a filing to Bursa Malaysia last Friday. (Malaysian Reserve) Please see accompanying report
Mulpha set to launch 2 of its most exclusive projects in 2012
Mulpha international plans to launch two of its most exclusive projects, namely Bangsar Enclave in Bangsar and Bayou Creek East in Johor, with a combined gross development value (GDV) of RM190m in the first quarter of 2012. “The target market for this property are high net worth individuals as the price range for this property is between RM10 million and RM14 million. It has been marketed for both local and overseas market,” its chairman Lee Seng Huang told Malaysian Reserve recently. (Malaysian Reserve)
AMMB’s Indonesian subsidiary gets investment manager license
AMMB holding’s subsidiary PT AMCI Manajeman Investasi Indonesia (AmInvestasi) has received an investment manager licence to operate in Indonesia. AMMB said on Friday the Badan Pengawas Pasar Modal dan Lembaga Keuangan (Indonesia Capital Market and Financial Institutions Supervisory Agency) had issued a licence to AmInvestasi on 14 Feb. AmInvestasi is a 99.99% owned subsidiary of PT AmCapital Indonesia, which in turn is 99% owned by AMMB. (Financial Daily)
K-Euro plans stake hike in concessionaire
Kumpulan Europlus (K-Euro) plans to acquire a 15.8% stake in West Coast Expressway SB (WCESB) from Prominent Xtreme SB for RM5.34m, according to a filing by the former with Bursa Malaysia last Friday. K-Euro currently holds a 64.2% stake in WCESB that is set to build and operate the new RM7.07bn Taiping, Perak to Banting, Selangor highway project. (Malaysian Reserve)
Sarawak Cable ends MoU for transmission lines plan
Sarawak Cable scrapped the plan to work with Sinohydro Corporation (M) SB and KEC International Ltd to develop transmission in Sarawak. The company said on Friday the memorandum of understanding (MoU) had been terminated and the parties would not be submitting the proposal. On 17 Aug 2011, the three parties had signed the MoU to prepare and submit proposals for the project. (Financial Daily)
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