Wednesday, November 21, 2012

20121121 1050 Malaysia Corporate Related News.

CIMB posts record net profit
CIMB Group Holdings yesterday reported a record net profit of RM3.3bn for the nine months ended 30 Sept of financial year 2012 (9MFY12), after posting a good third quarter (3QFY12) net profit of RM1.1bn. “We had a good 3QFY12 and 9MFY12 underpinned by strong performances at CIMB Niaga, CIMB Bank Singapore, corporate banking and treasury markets,” said CIMB group chief executive Datuk Seri Nazir Razak yesterday. (Financial Daily)

Ekuinas to list its unit Icon Offshore in 2014
Ekuiti Nasional (Ekuinas) has set a 2014 target to list its freshly-merged offshore supply vessel (OSV) unit Icon Offshore even thought the company is “already eligible” to be on the market. Ekuinas chief executive officer Datuk Abdul Rahman Ahmad said that although the growth of Icon Offshore, coupled with its track record, made it eligible for listing, Ekuinas wanted to grow it privately to maximise value.(StarBiz)

Takaful Malaysia posts stronger 3Q results
Syarikat Takaful Malaysia posted a net profit after taxation and zakat of RM67.4m for the third-quarter ended 30 Sept, compared to RM43.6m during the same period last year. The group’s operating revenue increased by 24% to RM1.3bn compared to the corresponding period last year. In a statement yesterday in regards to the results, Syarikat Takaful said the company expects its performance to achieve another record breaking year barring any unforeseen circumstances. (Malaysian Reserve)

MAS lands RM5.3bn financing
Malaysian Airline System (MAS) has secured a RM5.3bn fund mainly to pay for aircraft purchases, including its new super jumbos. MAS yesterday said it had sealed a master facility agreement with Turus Pesawat SB for the RM5.3bn Islamic loan. Turus Pesawat is a special purpose company fully owned by government-owned Minister of Finance Inc. The fund will be used by MAS to buy eight Airbus aircraft comprising six A380-800 super jumbos, one A330-200F and A330-300. (BT)

Scomi eyes Penang monorail deal
Scomi Engineering says it is keen to participate in the RM2bn Penang monorail project and will bid for the job when the government calls for tenders next year. "We won the bid before and are keen to tender again. We are very well prepared to execute the project," its group chief operating officer of transport solutions Kanesan Veluppillai told Business Times. The Penang monorail was proposed under the Ninth Malaysia Plan (9MP) and Northern Corridor Economic Region. Tenders were called by the Federal government in November 2007. (BT)

MMHE negatively impacted by costs
Malaysia Marine and Heavy Engineering Holdings (MMHE), a marine and heavy engineering services provider, saw its net profit for the third-quarter drop by 89% to RM8.1m from RM80.2m in spite of an increase in revenue, following a share of losses from its offshore division. Net profit for the year-to-date stood at RM141.6m, down 50% from RM287.9m previously. The Petroliam Nasional group unit said the offshore division’s ongoing conversion project incurred higher than expected costs, and it is currently pursuing negotiation with its clients.. (Malaysian Reserve)

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