KLCI chart reading :
little upside biased with possible pullback correction.
TSH counts on land bank to expand plantation ops
TSH Resources is banking on its sizeable unplanted land bank of 60,000ha to continue expanding its plantation business. It has allocated about RM100m in capex for new planting of oil palm trees on these parcels of land which are largely located in Indonesia, group MD Datuk Tan Aik Sim said. Currently, TSH's planted oil palm plantation in Indonesia and Sabah measures some 39,000ha. Of this, more than half are immature. Tan said TSH's fresh fruit bunches production was projected to grow at an average compounded growth of 43% over the next four years. (Starbiz)
TSH Resources: Plans RM470m investment in Indonesia. TSH Resources Bhd is stepping up its Indonesia operations with investments totaling RM470m in the next 4 years which is expected to result in a compounded growth of 43% in fresh fruit brunches production by 2014. (Source: Malaysian Reserve)
MPHB to focus on gaming after completing stake buy
Multi-Purpose Holdings’ (MPHB) acquisition of the remaining 47% stake it does not own in Magnum Holdings SB for a collective price of RM1.6bn will be completed by 11 June. With the completion of the exercise, the company intended to focus on its core business of gaming, said MPHB managing director Surin Upatkoon. They would also focus on cutting its borrowings by raising RM1bn through non-core gaming assets sale, he added. (StarBiz)
Sime invests in Liberia
Plantation conglomerate Sime Darby is planning to invest USD3.1bn in its oil palm and rubber plantation ventures in Liberia over the next 15 years. Chairman Tun Musa Hitam said its unit, Sime Darby Plantations SB, to date had invested RM50m (USD17m) in the West African country. In 2009, an amended and restated concession agreement between Sime Darby Plantation and the Liberian government gave the company a 63- year concession of 220,000ha in Liberia to be developed into oil palm and rubber plantations. “We expect by 2015 some 10,800 tonnes of crude palm oil will be produced from our plantations in Liberia,” Musa told Malaysian and Liberian reporters after the official launch of Sime Darby Plantations' first oil palm seedlings planting at its first estate Matambo Estate in Grand Cape Mount County witnessed by Liberia vice-president Joseph Boakai. (StarBiz)
MSC eyes new tin mines
Malaysia Smelting Corporation is currently looking to acquire concessions for three or four tin mines in Malaysia and Indonesia to tap into strong demand from China's booming electronics industry. The company might invest up to RM200m to increase its mining assets in the near term, MSC CEO Datuk Mohd Ajib Anuar told Reuters. “We raised RM104m from the Singapore listing, and out of that we've earmarked RM80m for financing development of new mines,” Anuar said. “With that RM80m plus some borrowing, we would have possibly RM150m to RM200m to look for expansion of new mines,” he said, adding that potential locations were Bangka in Indonesia, as well as Perak and Pahang, two major tin-producing states in Malaysia. MSC also entered into a confidentiality agreement with Congo Ministry of Mines in Kinshasa. In a filing with Bursa Malaysia, the agreement was in connection with the disclosure of confidential information on certain prospective tin mining areas for a possible joint-venture cooperation in exploration and development of tin and related mineral resources in Congo. (StarBiz)
LBS MoU with India firm aborted
LBS Bina Group said the memorandum of understanding signed with Lodha Developer s Private Ltd for the development of one of the five sectors of the Dharavi Slum Rehabilitation Project in Mumbai, India, has been terminated. The Slum Rehabilitation Authority had rejected all the bids including those submitted by Lodha following the termination of the bidding process for the project. (StarBiz)
Prasarana revises pre-qualification criteria for some packages
Syarikat Prasarana Negara has revised its pre-qualification criteria for elevated civil works, stations and depots work construction packages for the Sungai Buloh-Kajang part of the Klang Valley Mass Rapid Transit. Now it allows interested contractors to form joint ventures or consortiums among local companies. Prasarana also said it would be displaying the notice on the pre-qualification revision for eight days, beginning last Friday, adding that it had set for all applications to be submitted before 6 June. The planned construction period for the proposed Sungai Buloh Kajang MRT line is from 2011 to 2016 and, when completed, it would provide a fast train service for 1.2m people along the route. (StarBiz)
Mah Sing to launch RM2.5bn projects
Mah Sing Group will launch RM2.5bn to RM3bn worth of projects in the Klang Valley, Penang and Johor this year to meet its sales target of RM2bn for the current financial year. Group MD and CEO Tan Sri Leong Hoy Kum said the projects would comprise an array of commercial, residential and industrial properties. The two commercial projects are Icon City Petaling Jaya and Star Avenue@D’sara, while the industrial project is iParc 3@ Bukit Jelutong. Residential projects lined up for the launch in the Klang Valley include Hijauan residence in Cheras, Kinrara Residence, Aman Perdana, Bayu Sekamat, M Suites@Jln Ampang, M City@Jln Ampang and Garden Plaza in Cyberjaya. (StarBiz)
Kimlun targets RM600m new jobs
Construction outfit Kimlun Corp is confident of securing some RM600m worth of new jobs this year, which would add nicely to its current outstanding order book of about RM900m, said CEO Sim Tian Liang. The numbers look promising as they translate into about there years worth of contracts for the company based on its revenue last year of RM527.6m. Sim mentioned that this is achievable based on their contract wins. Their tender book is currently around RM500m. He added that the success rate from tenders is 20% to 25%, which is high given that more than two-thirds of its tenders are to repeat clients. (Financial Daily)
Ananda’s Indian ops dragged into spectrum scandal
Billionaire Tan Sri T Ananda Krishnan’s Indian telecommunications operation has been dragged into that country’s spectrum scandal that has seen at least one minister charged and several other key personalities, including influential MPs, hauled up. According to Economic Times of India, India’s Central Bureau of Investigation (CBI), which was directed by Indian courts to scrutinize decisions made by the Indian telecoms ministry, “is likely to ask Maxis Communications and former Telecoms Minister Dayanidhi Maran to assist in the investigation. (Financial Daily)
Ramunia: Targets RM903m offshore job in Mumbai. Ramunia Holdings Bhd is eyeing a USD300m (about RM903m) fabrication job in the oil and gas industry offshore Mumbai with its Indian partner. The said bid is for work at India's state-owned Oil and Natural Gas Corp Ltds (ONGC) wellhead platform with pipeline facilities for oil-field cluster 7 and 16. The firm is also tendering for about RM500m worth of local job. (Source: Malaysian Reserve)
Three-A: China JV plant with Wilmar on track. The construction of the multi-storey manufacturing plant in China, which is easily three times the size of Three-A's operations in Malaysia, is on track for completion as early as the third quarter this year. (Source: The Edge Financial Daily)
Labelux Buys Jimmy Choo for About $811 Million(Source: Bloomberg)
Labelux, the privately held group that owns Bally, agreed to buy upscale shoemaker Jimmy Choo on expectations for further growth in luxury accessories. Labelux paid TowerBrook Capital Partners LLP more than 500 million pounds ($811 million) for Jimmy Choo, according to two people familiar with the matter. TowerBrook made more than three times its initial equity investment, said one of the people, who declined to be named because the information is private.
No comments:
Post a Comment