KLCI chart reading :
correction range bound upside biased.
DiGi.com Bhd, the third largest operator, is expected to announce two mobile virtual network operator (MVNO) deals in the second half of the year. “It’s going to be a busy year for us as far as the MVNO space is concerned, it’s going to be exciting. We will be launching two MVNO in the second half this year,” DiGi chief executive officer Henrik Clausen said. Last year, DiGi announced an MVNO tie-up with Baraka Telecoms. However, the deal was off before the official launch of the service. (BT)
Pengerang – a petroleum hub in the making
New oil and gas (O&G) industry facilities in Pengerang on the southeastern tip of Johor will boost the town’s population to 40,000 and transform it into a much bigger petroleum hub than Kerteh, Terengganu. Menteri Besar Datuk Abdul Ghani Othman said this scenario was likely as Petronas would set up a RM60bn refinery and petrochemical integrated development (RAPID) petrochemical complex in Pengerang by 2015. (BT)
Tradewinds to develop integrated rubber-city
Tradewinds Plantation (TWSPlant) plans to develop a world-class integrated rubber city in Kota Putra, Kedah, and aims to attract investment from downstream players in the rubber industry by leveraging the ample supply of latex from the northern region of Peninsular Malaysia as well as southern Thailand. According to its chairman Datuk Wira Syed Abdul Jabbar, the project is formulated because of the ample supply of latex from the vast acreage of rubber plantations in the area, especially from Southern Thailand. (Financial Daily)
Tradewinds Plantation gets nod to buy Mardec for RM140m
Tradewinds Plantation Bhd has received the green light from its shareholders to acquire rubber processor Mardec Bhd for RM140m cash. Chairman Datuk Wira Syed Abdul Jabbar Shahabudin said the acquisition was part of Tradewinds Plantations' strategy to expand its rubber business into downstream activities, complementing its existing rubber plantation operations. (The Star)
Hua Yang proposes 1-for-3 bonus issue
Property player Hua Yang Bhd has proposed a 1-for-3 bonus issue to improve trading liquidity of its shares and increase its capital base. In a filing with Bursa Malaysia yesterday, Hua Yang said it expects the bonus issue, which will involve the issuance of 36 million shares based on its current share base of 108 million shares, to be completed in 2H11. The exercise will reduce its net assets per share to RM1.48 from RM2.03 as at 31 Mar 2011. (Financial Daily)
Hua Yang Q1 pre-tax surges to RM15.2m; proposed bonus issue of 1 for 3 shares held
Hua Yang Bhd's pre-tax profit surged 126% to RM15.26m in the first quarter ended June 30, 2011 from RM6.75m in the same period last year. In a statement today, the company said revenue increased 66% to RM61.75m from RM37.22m previously, while net profit expanded 135% to RM11.51m from RM4.89m. The Company also proposes bonus issue shares of RM1 each in the company, on the basis of one bonus share for every three existing shares held on an entitlement date to be determined later. (Business Times)
Measat Global said to sell stakes in satellites
Measat Global Bhd, controlled by billionaire Tan Sri T Ananda Krishnan, has held talks with Eutelsat Communications SA and Asia Satellite Telecommunications on selling stakes in its satellites, according to three people familiar with the discussions. The negotiations may also lead to a partnership between Measat and one of the companies, two people said, declining to be identified because the discussion is private. An agreement would give the companies access to Measat’s four satellites and help share costs of future launches. A sale would help Ananda Krishnan, Malaysia’s second richest man, raise funds after buying out three companies last year for a total RM7.9bn. (Malaysian Reserve)
Higher gearing for SapuraCrest, Kencana
The merger of SapuraCrest Petroleum and Kencana Petroleum will see the new merged entity having RM1.84bn added to its books as borrowings due to the cash payment being made to shareholders of both companies in the proposed corporate exercise. Essentially, the new merged entity has to borrow the sum above from its investment bankers, Maybank Investment Bank and CIMB Investment Bank, to pay shareholders of SapuraCrest and Kencana to buy the assets and liabilities in both companies. (StarBiz)
AirAsia-ANA tie-up likely
AirAsia is likely to have a joint venture with Japan’s largest carrier – All Nippon Airways (ANA) – to set up a low cost airline likely to be called AirAsia Japan. An announcement on the collaboration is expected to be made next week and it would involve the setting up of a low cost carrier (LCC) and a hub in Japan by AirAsia. The LCC will serve the domestic market and eventually regional markets, sources say. (StarBiz)
Daya Materials gets RM120m job from B Braun
Daya Materials Bhd has secured a RM120m contract from B Braun Medical Industries SB to build a six storey building in Bayan Lepas, Penang. In a statement yesterday, Daya said it’s wholly owned subsidiary Daya CMT SB is a specialist industrial plant contractor, was awarded the contract on 22 June. The projects scheduled to begin this month, is expected to complete by July 2012. The project involves the construction of one storey of utility plant rooms, three storey of multi-level parking and a two-storey multi-purpose builing.(Financial Daily)
Dialog's unit to buy Indian firm for RM7.88m
Dialog Group Bhd's wholly-owned subsidiary, Dialog Systems (Asia) Pte Ltd, is acquiring a 51% stake in India's Anewa Engineering Private Ltd for RM7.88m. In a filing to Bursa Malaysia today, it said the proposed transaction will further provides access to new customers in various parts of the world, namely in the Middle East and India. (Business Times)
Atlan posts RM108.9m pre-tax profit in Q1
Atlan Holdings Bhd has registered a pre-tax profit of RM108.997m in the first quarter ended May 31, 2011 compared with RM34.301 in the previous corresponding quarter. Revenue for the quarter increased slightly to RM177.292m from RM175.962m. (Business Times)
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