KLCI Daily Chart
George Kent plans to increase exports by 80%
George Kent (Malaysia) wants to increase its exports of water meters and brass products by up to 80% in the next two to three years from the present 55%. The company also plans to invest up to RM100m over the next three to four years to expand its meter and original equipment manufacturing (OEM) businesses. Its chairman Tan Sri Tan Kay Hock said it is looking to increase its exports to 20 countries as the demand for water meters grow. This is due to high demand for houses and apartments and the need to replace old meters. (BT)
Public Bank’s Teh celebrates birthday with promise of nice dividend present
Shareholders gave a lot of applause and sang “Happy Birthday” to Public Bank chairman Tan Sri Teh Hong Piow at the group's AGM yesterday where he set a medium-term target of achieving a net return on equity (ROE) of above 26% and an impaired loan ratio of below 1% as he believes the banking sector in Malaysia would be able to maintain its profitability despite uncertainty in the global markets. Chief operating officer Leong Kwok Nyem said Public Bank could maintain a dividend payout ratio of 50% in the medium term. (StarBiz)
Smartag to raise RM17.7m in ACE listing
Smartag Solutions is aiming to raise RM17.7m in its initial public offering (IPO) in the Ace Market in the second quarter of 2011. Approximately RM3.4m from the IPO proceeds would be channeled into further enhancing the company’s R&D expertise. Incorporated in 2004, Smartag is a provider of total RFID-based solutions, (Financial Daily)
Benalec gets Melaka reclamation works
Benalec Holdings has entered into an agreement with Yayasan DMDI, a company set up up by the Melaka state government, to undertake reclamation works for the latter. James Cekap, a wholly owned unit of Benalec, had on the same day entered into a deed of assignment with DMDI, wherby the latter had agreed to sign its rights and transfer its liabilities and obligations of the concession to reclaim a piece of land in Melaka for the former. On 11 March, the Melaka government granted DMDI the right to reclaim a portion of the coast of Kawasan Kota Laksamana in Bandar Melaka. Upon the reclamation works, the reclaimed land will measure about 101.1 hectares. (Financial Daily))
Axis Global Industrial REIT set at indicative price range of RM1.00-1.05
The initial public offering for Malaysia's Axis Global Industrial REIT has been set at an indicative price of RM1.00-1.05 a unit, two sources who have seen the information memorandum told Reuters. The share base of about 2 billion units prices the IPO at between RM2.0bn-RM2.1bn. Axis Global Industrial will hold about 35% debt level, which translates into a net asset value of about RM2.02bn. Sources with direct knowledge of the deal told Reuters that Axis REIT Management SB would list Axis Global Industrial REIT in 2Q this year, in what would be the world's largest sharia’ real estate investment trust with more than RM3bn in assets. (Reuters)
Fitters gets RM33m job
Fitters Diversified announced that its wholly-owned subsidiary Z-odd Design SB had been awarded a contract worth RM32.98m for the construction and completion of fit-out works for Kidzania Kuala Lumpur, an indoor educational theme park. The duration of the project is seven months and will contribute positively to their earnings. (Financial Daily)
SP Setia: More medium-cost apartments in Setia Alam. SP Setia Bhd plans to launch at least another 300 units of medium cost apartments in its Setia Alam township in the near future to benefit from the government's "My First Home Scheme". (Source: The Edge Financial Daily)
TM: Unit gets a further 10-year concession deal on Menara KL. Telekom Malaysia Bhd's (TM) subsidiary Menara Kuala Lumpur Sdn Bhd (MKLSB) has signed a 10-year concession agreement worth RM50m with the Government. (Source: Bursa Malaysia)
TDM: To build private specialist hospital in Kuantan. Terengganu Development Management (TDM) Bhd will build a RM120m private specialist hospital in Kuantan. The construction is expected to be completed by next year. (Source: The Edge Financial Daily)
Cocoaland: Buys Rawang land. Cocoaland Holdings Bhd is acquiring two pieces of industrial land in Rawang for RM7.85m from Riviera Properties Sdn Bhd. The lands are acquired for the construction of a factory and warehouse. (Source: Bursa Malaysia)
George Kent: To invest up to RM100m to expand ops. George Kent (M) Bhd plans to invest up to RM100m in the next three to four years to expand its meter and original equipment manufacturing (OEM) businesses. (Source: The Star)
APFT: Public subscription over subscribed. APFT Bhd's 15m shares allocated for public subscription has been oversubscribed by 12x. The company will be listed on the Main Market of Bursa Malaysia on March 18. (Source: The Star)
Benalec: Gets Melaka reclamation works. Benalec Holdings Bhd has entered into an agreement with Yayasan DMDI (DMDI) to undertake reclamation works at the coast of Kawasan Kota Laksamana in Bandar Melaka. (Source: Bursa Malaysia)
Plantation: Only 10 biodiesel plants operating. The government has issued 60 biodiesel manufacturing licences as at end-February 2011 but only less than one fifth has started production. This is due to the lack of demand for biodiesel exports and high palm oil prices in the 2H10. (Source: Business Times)
No comments:
Post a Comment