Hengyuan(shell) before china rm3+, now rm12. Drbhcom before china rm0.70+, now rm2.5. Now hbglobal turn. Just trust China close eye buy hbglobal.

Unusual Market Activity

Activated

Ekovest too...

2nd chance given for Bandar Malaysia

Goreng time coming

Media still honeymoon

WAKE UP

WOW

REST IN PEACE

RIP

Undervalue

LAST CALL...

Good sign as MYR VS USD up...

Good Dividend

11.5sen@appox. 10% dividend nobody want

WOW

After AAX, Next GORENG Star

Track record for Airasia and AAX in 2013 about RM3/RM0.80, now Airasia recovered to RM3, so AAX will follow TOO to RM0.80

Track record for Airasia and AAX in 2013 about RM3/RM0.80, now Airasia recovered to RM3, so AAX will follow TOO to RM0.80

Track record for Airasia and AAX in 2013 about RM3/RM0.80, now Airasia recovered to RM3, so AAX will follow TOO to RM0.80

Track record for Airasia and AAX in 2013 about RM3/RM0.80, now Airasia recovered to RM3, so AAX will follow TOO to RM0.80

Track record for Airasia and AAX in 2013 about RM3/RM0.80, now Airasia recovered to RM3, so AAX will follow TOO to RM0.80

Track record for Airasia and AAX in 2013 about RM3/RM0.80, now Airasia recovered to RM3, so AAX will follow TOO to RM0.80

Dividend coming this few days

PROBABLY 2 FOLD SHORT TERM

EPF keep on buying

http://www.thestar.com.my/business/business-news/2016/08/11/investors-should-explore-opportunities-in-china-medical-gloves-industry/

1.40 for today

stable income, good dividend,good stock

http://www.enanyang.my/news/20160809/马袖强赴华促销棕油橡胶/

one of most potential stock to double within next two years

average 0.08sen/yr income distribution

http://www.thestar.com.my/business/business-news/2016/07/27/palm-makes-late-gains-on-malaysias-biodiesel-plan/

income distribution should be today as per track record

http://www.thestar.com.my/business/business-news/2016/07/22/palm-oil-hits-two-week-top-further-gains-seen-on-strong-demand/

http://www.thestar.com.my/business/business-news/2016/07/21/palm-oil-market-factors-to-watch-july-21/

http://www.thestar.com.my/business/business-news/2016/07/21/european-vegoil-prices-rise-on-malaysia-exports/

（吉隆坡19日讯）传砂拉越泛婆罗洲大道（Pan-Borneo highway）总值100亿令吉的剩余工程配套将会本月内颁发，预计砂拉越建筑公司将成当中的大赢家。

大马投行分析员表示，这消息符合预期，预计这剩余的8项工程配套，最早会在7月中颁发。

该分析员估计，那些得标几率较高的联营公司包括许甲明（KKB，9466，主板工业产品股）与WCT控股（WCT，9679，主板建筑股）、砂查也马特（CMSB，2852，主板工业产品股）与高峰控股（BPURI，5932，主板建筑股）、纳音控股（NAIM，5073 ，主板产业股）与金务大（GAMUDA，5398，主板建筑股），以及亿马建筑（IKHMAS，5268，主板建筑股）与Titanium Project Management公司。

其他竞标公司包括双威建筑（SUNCON，5263，主板建筑股），IJM（IJM，3336，主板建筑股）和马资源（MRCB，1651，主板产业股）。

该分析员也认为，KKB及砂拉越电缆（SCABLE，5170，主板工业产品股）将会受益于公共设施配套，而砂查也马特将会是原料主要供应商。

总值160亿

泛婆罗洲大道砂拉越部分全长1089公里，预计于2022年竣工，总值160亿令吉。

根据《星报》引述消息报道，这8项总值工程配套已敲定，预计砂拉越公司将会成为当中的大赢家。

参与投标的砂州公司包括砂查也马特、福胜利（HSL，6238，主板建筑股）、亿强工程（ZECON，7028，主板建筑股）、昇阳船务机构（SYSCorp，5173，主板贸服股），以及Naim Cendera 私人有限公司等。

政府次季没有颁发任何合约，如今是时候陆续完成投标，并加快工程进度。



政府拟发130亿回债

政府将发售回教中期票据，筹资130亿令吉，以启动泛婆罗洲大道项目的初步工程。

路透社报道，政府已指定联昌银行、大马投行、马银行及兴业银行，协助发放中期票据，以筹措泛婆罗洲大道初期发展资金。

这项大型项目的总成本预计为270亿令吉，其中60%工程资金，将透过Danalnfra Nasional发放以令吉为主的回教中期票据筹措。

另外，政府也会从砂州发展经费中拨出50亿令吉为资金。

第一批的中期票据，预计在8月或9月发放，料筹资100亿令吉。

http://www.theborneopost.com/2016/07/20/jaya-tiasa-records-highest-ffb-production-for-june/
KUCHING: Jaya Tiasa Holdings Bhd (Jaya Tiasa) achieved a new record yesterday as its fresh fruit bunches (FFB) production reached a new high of 103,074 metric tonnes (MT) in June this year.

AmInvestment Bank Bhd (AmInvestment Bank) in a report yesterday said the highest FFB production has brought the company’s financial year 2016 (FY16) ended June 2016 harvest to a total of 932,000MT.

The research firm calculated Jaya Tiasa’s total production for FY16 will translate into a yield of 15.3MT per mature hectare (ha) of oil palm plantation.

The numbers, it said, were 3.5 per cent higher than its forecast of 900,000MT of FFB production for FY16 with an estimated FFB yield of 14.7 mt per mature ha.

The research firm also observed that it was the first time Jaya Tiasa’s FFB production has breached the 100,000MT mark as compared to the company’s previous high of approximately 97,000MT recorded in September 2015.

With the encouraging FFB production recorded in June 2016, AmInvestment Bank has maintained its FFB yield forecast for Jaya Tiasa for FY17 and FY18 at 16.6MT and 17.8MT respectively.

Meanwhile, Jaya Tiasa in a filing to Bursa Malaysia on July 12 said the group’s logs and crops production for June 2016 were 42,592 cubic metres (logs); 103,074 mt (FFB); 12,356 (crude palm oil) and 2,403MT (palm kernel).

Additionally, the average age of Jaya Tiasa’s oil palm plantation trees was at eight years.

The research firm opined that the company’s plantation operation has entered the traditional peak harvest season in the first quarter of financial year 2017 (1QFY17) ending September 2016.

On another note, AmInvestment Bank noted Jaya Tiasa’s crude palm oil (CPO) production for FY16 which amounted to a total of approximately 120,000 MT was below its forecast of approximately 150,000 MT.

However, it was unable to ascertain the company’s actual palm oil extraction rate (OER) at this juncture.

It pointed out that a portion of Jaya Tiasa’s FFB harvest was sold to external parties at an estimated OER rate of 19 per cent.

For nine months of financial year 2016 (9MFY16) ended March, Jaya Tiasa’s recorded OER was at 17.4 per cent which was below AmInvestment Bank’s assumption of 18 per cent for FY16 in full.

“Despite the strong FFB production in June 2016, we forecast that the figure might not be sufficient to bring Jaya Tiasa’s oil palm segment into the black for the fourth quarter of financial year 2016 (4QFY16) due to lower volumes for April and May,” it added.

It observed that the company’s improving FFB production has coincided with declining CPO prices – from a high of RM2,770 per tonne on April 4, 2016 to a low of RM2,323 per tonne on 29 June 2016.

AmInvestment Bank believed another key risk to its forecast earnings for Jaya Tiasa was the log production volume which registered below its expectation.

It noted Jaya Tiasa produced 732,000 cubic metre of logs against its forecast of 840,000 cubic metre, which represented a difference of 13 per cent.

Nonetheless, the research firm expects Jaya Tiasa’s timber division to remain profitable in 4QFY16, with the average log export prices at above US$200 per cubic metre seen in FY16. Additionally, AmInvestment Bank said the recent 20 basis points cut in the overnight policy rate (OPR) will benefit Jaya Tiasa as most of the company’s borrowings were on floating rates.

It estimated that a 20 basis points cut in lending rates could results in a one to two per cent increase in earnings for Jaya Tiasa.

As a whole, AmInvestment Bank maintained its ‘buy’ recommendation on Jaya Tiasa, valuing the company’s shares price fair value at RM2.11 per share based on an estimated price-earnings of 22 times on FY17 forecast earnings.

http://www.theborneopost.com/2016/07/14/cpo-production-rises-in-june-sarawak-sees-most-improvement-in-ffb-yield/

let see tom result

Good QR + incoming new project

KUCHING: Barisan Nasional (BN) winning a landslide victory in the 11th Sarawak Election, clinching yet another two-thirds majority, could push Sarawak stocks towards a rebound as they have dipped over the past month.

These include Hock Seng Lee Bhd (HSL), KKB Engineering Bhd, Sarawak Cable Bhd, Jaya Tiasa Holdings Bhd (Jaya Tiasa), Ta Ann Holdings Bhd (Ta Ann), and Cahya Mata Sarawak Bhd, said AmInvestment Bank Bhd (AmInvestment Bank) in a report yesterday.

“HSL has fallen by some 10 per cent from RM2 share a month ago,” it detailled. “We believe HSL deserves a higher valuation, following its securing of two major contracts over the last month.

“They are the RM750 million second package Kuching central wastewater project and the RM1.7 billion Package 7 of the Pan Borneo Highway. The primary question now is whether it can deliver the result.”

Yesterday, HSL dropped two sen to close at RM1.80 per share, with 2.27 million shares traded.

HSL is now currently trading at 11.3 times against AmInvestment Bank’s financial year 2016 forecast estimates for earnings per share (EPS).

This means that its price earnings ratio (PE) for the past three years is 12.5 times.

“We have a buy on HSL, and our target price of RM2.80 per share tags it at 16.4 times FY16F,” it added.

For timber stocks, AmInvestment Bank observed that Ta Ann and Jaya Tiasa have fallen between six per cent and 10 per cent, respectively, over the past one month.

“While it has partly to do with declining log prices from a high of US$270 per cubmc metre last year, investors also feared an election result that could jeopardise their timber concessions,” it added.

Ta Ann closed unchanged at RM4.74 per share, while Jaya Tiasa closed three sen lower at RM1.35 per share.

“To note, all of their timber concessions have expired and are being extended annually, pending the state’s decision on longer term plan to grant the timber players a longer concession period of 60 years.

“Though the degree of decline of log prices is still not clear ahead of the companies’ result announcement this month, it could be over 20 per cent from last year’s high, with the prices now averaging about US$220 to US$225 per cubic metre.”

Ta Ann has said it had already anticipated log prices to moderate in the beginning of the year but expected it to trend higher in the following months. Jaya Tiasa’s log prices are lower as a portion of its logs is sold in the domestic market.

“We maintain our hold call on Ta Ann, with a fair value of RM5.28 per share. A 1-for-5 bonus issue is pending,” it added. “Jaya Tiasa is still a buy, with a fair value of RM2.18 per cent share, as we continue to expect its fresh fruit bunch yield to recover, which will have a significantly impact on its palm oil division.”

For local engineering player KKB Engineering Bhd, AmInvestment Bank saw that its price has held steady, down three per cent from a month high of RM1.68 per share on April 22.

Yesterday, KKB rose by two sen to RM1.65 per share at closing.

“We maintain buy with a fair value of RM2 per share. While we expect its 1HFY16 results to be poor – given the lack of conventional job awards so far into 2016 – its prospects remain promising, with a package of the Pan Borneo Highway still within sight.

“As we have also previously noted, KKB stands also good chance in securing jobs to supply steel products for the massive highway project in the form of water pipes, steel poles, guardrails, and bridge steel beams and piles.”



Read more: http://www.theborneopost.com/2016/05/10/election-boost-for-sarawakian-counters-as-analysts-predict-price-rebound/#ixzz48JL3XCJn

GOOD chance for Malakoff’s PD Power to renew PPA after 2019

By UOB Kay Hian / The Edge Financial Daily   | April 6, 2016 : 10:52 AM MYT   

This article first appeared in The Edge Financial Daily, on April 6, 2016.

 

Malakoff Corp Bhd
(April 5, RM1.67)
Reiterate buy with a target price (TP) of RM2: Malakoff Corp Bhd’s wholly-owned Port Dickson Power Bhd (PD Power) is a 440mw  open-cycle gas-fired power plant located about 1.5 hours away from Kuala Lumpur. The power plant signed its 21-year power purchase agreement (PPA) with Tenaga Nasional Bhd (TNB) in 1995. Subsequently, the Energy Commission extended PD Power’s PPA (at lower tariffs) by another three years (from March 2016 to February 2019)

Designed as an open-cycle power plant (without a boiler and steam turbine), PD Power has the ability to supply electricity to the national grid within a 30-minute time frame. This compares to combined cycle gas-fired’s one to two hours and coal-fired power plants’ 24 to 36 hours start-up time.

Consequently, the regulators have utilised open-cycle power plants to satisfy demand load during peak periods (typically in the 10am, 2pm to 4pm, and 8pm time slots).

PD Power is one of three open-cycle power plants, more commonly known as peakers, in Peninsular Malaysia. The other two peakers are: i) Edra Global Energy Bhd’s 434mw  Powertek power plant; and ii) TNB’s 625mw Putrajaya power plant.

We gathered that PD Power shares the same revised tariff as Segari Energy Venture Sdn Bhd, which is 60% to 70% lower than its first-generation tariff.

Recall that the management had guided in its fourth quarter ended Dec 31, 2015 analyst briefing that the expected contribution from PD Power’s PPA extension is approximately RM20 million per annum in earnings before interest, taxes, depreciation and amortisation (Ebitda). In the absence of depreciation and interest charges, PD Power has been fully paid up as at January 2016. PD Power will contribute 3% to Malakoff’s bottom line.

In our assessment of Peninsular Malaysia’s power generation mix, PD Power stands a good chance of renewing its PPA beyond 2019. This is predicated upon PD power being one of three peakers in Peninsular Malaysia and the regulator may not be able to displace these conventional peakers with relatively small renewable energy components.

We have already incorporated PD Power’s approximately RM20 million Ebitda contribution with the three-year PPA extension that was granted by the EC in December 2015. In all, we project 2016 and 2017 core net profits of RM487 million and RM483 million respectively.

Tanjung Bin Energy (TBE) will lift Malakoff’s effective generation capacity by 17% to 7,040mw. The project is expected to yield an Ebitda of RM515 million annually, lifting Ebitda by 22% in 2017 (maiden full-year earnings contribution) versus 2015 Ebitda of RM2.448 million. This has been factored into our earnings.

With the completion of TBE last month (which cost RM6.7 billion to build), capital expenditure (capex) will taper off to RM900 million this year versus RM1.6 billion (2014) and RM1.4 billion (2015) previously.

We reiterate “buy” on Malakoff with a sum-of-parts TP of RM2, implying 20.8 times 2016 forward price-earnings ratio and 8.4 times enterprise value (EV)/Ebitda.

The stock currently trades at 16.5 times 2016F PER and 8.5 times EV/Ebitda. We like the stock for: a) its strong earnings visibility underpinned by long-tenured PPAs amid current market volatility; b) 2015 to 2016 earnings recovery from the low base in 2014 due to unplanned Tanjung Bin outage; and c) attractive dividend yield of 4.1% in 2016, with upside from lower capex requirements with the completion of TBE by last month. — UOB Kay Hian, April 5

Earning per share unlikely to be diluted but will getting more. Anyone know how much the bank interest per month if you borrow 1 billion from bank? Now self finance will have advantage of interest saving offset the dilution of share. This news looks BAD news for AA banker as the bank major depend on interest to generate their income

Still much better than using bank facilities as bank interest killing and all hard work benefit for bank

Average price target 2.07,long way to go

USD1=MYR3.90,tomorrow might see 3.8

MMC - GAMUDA, THE BIGGEST PACKAGE 28b-30b