mudajaya proved to all sceptics wrong with a huge contract win. Since it's mulpha's associate co., I look with interest its outlook despite no share on this counter. congratulations to all mudajaya holders. hopefully, it can win more contracts going forward

Kra canal thailand will kill off all Malaysia ports business. habislah...

I'm still holding this NexGEM....i guess this name is much better. wakakaka

The Board of Directors of Olympia wishes to announce that Olympia Ventures Sdn Bhd (“OVSB” or “Vendor”), a wholly-owned subsidiary of the Company, had on 4 October 2017 entered into a Sale and Purchase Agreement (“SPA”) with Global Mobility Investments Limited (Company Registration No. 10799488), having its registered office at 73 Cornhill, EC3V 3QQ, London, United Kingdom, (“GMIL” or “Purchaser”) for the disposal of 70% of the issued and paid-up share capital consisting of 840,000 ordinary shares in Olympia Travels & Tours (Singapore) Pte Ltd (“OTTS”), for a total cash Consideration of Singapore dollars (“S$”) 840,000.00 (equivalent to RM2,609,796.00 based on 5-day average prevailing foreign exchange rate of 3.1069 prior to the signing of this SPA) (“Proposed Disposal”).

if tak jadi, means azmin is a pondan. 8 years waiting in vain for water restructuring

Retirement village operator Aveo Group says demand for its units have rebounded quickly after critical media Reports about its fees and contracts hurt sales for a month.

In late June, a joint Fairfax Media-ABC Four Corners probe into Aveo aired concerns raised by former residents and staff, including hefty exit and maintenance fees, a "bleed them dry" approach to customers and safety concerns.

Aveo, at the time, labelled the media coverage "one-sided", saying it failed to acknowledge residents who were happy with their experience and highlighted its move towards simplifying its contracts.

On Wednesday Aveo chief executive Geoff Grady unveiled a $252.8 million full-year profit, more than double the result a year ago, while admitting the company had room to improve its practices.

Aveo said its strong sales momentum did ease during July after the media report triggered national headlines, with inquiry rates about 60 per cent of those experienced in the same period a year ago.

Mr Grady said this was due to the "media noise" affecting the company but the inquiry rate was now trending back at levels seen in 2016/17.

"Yes, there was an impact in July but we are recovering quickly and overall for the year we would expect a very solid result for our sales numbers," he said.

Mr Grady said he recognised that some consumers feel let down by Aveo and appreciated people’s concerns about the retirement and aged care industry.

"We acknowledge that some residents have been confused by their contracts," he said.

"And we are genuinely distressed when we fall short of the standards our consumers expect of us."

Over the next 12 months, he said Aveo will simplify contracts further, including reducing the length of the documents and disclosing entry, exit and other fees more clearly.

He also vowed to improve the reporting and handling of incidents, to extend a six-month money-back guarantee for new residents who change their mind and sell, and to shorten the buyback period of units for residents.

The group’s revenue of $421.3 million in the 2017 financial year was down 5.4 per cent on the prior year, while underlying profit after tax was up 22 per cent at $108.4 million.

Aveo said strong sales from its existing and new retirement developments was complemented by solid contributions from its Freedom and Retirement Village Group facility acquisitions.

The group plans to buyback up to 54.3 million of its shares, starting from Thursday with funds from excess operational cash flows and the sale of non-retirement assets.

Shares in Aveo, which had fallen by more than 20 per cent since the media coverage broke June, were up 24 cents, or 9.9 per cent at $2.67 by 1427 AEST.

AVEO PROFIT MORE THAN DOUBLES:

* Net profit of $252.8m, up from $116m

* Revenue down 5.4pct to $421.3m

with 18% stake, it's very strange that General Lee no worry at all of a coup? i guess big funds can easily bypass him, appoint themselves as new boss. I still look at KNM with huge potential at long term basis

thank you Calvin for photo sharing....yes, MUI is still one of my tightly hold portfolio....you give us extra extra super confidence on MUI

NG needs Tongkat Ali. Then, wont be lembik anymore. wakaka

when we're so confident, why General Lee chicken out, selling out? today, market follow chicken General Lee. wakaka. luckily, I have very small drop in the huge ocean of shares. still look see, look see with longer term view safer

I guess TPY can relieved by now, discharged out of court. Who's right or wrong, I guess everyone knows very well. He can leave behind this bad episode, move forward..

aiya Roy, Hu-Ann and Olympia also same chairman...sama sama

aiya...Pak Lah, pls don't back to sleep...ok...compete with sports car, KNM, OK?

waloe....KNM rise so fast and furious. I have a very small drop in the ocean of shares....it already rise so fast before I can top up further. congratulations to all KNM punters

Don't underestimate cili api, Nenek Yap, it's still hot and spicy...wakaka....with strong balance sheet from sales of Jupiter Security, it can ramp up Mont Kiara property- JV with Dutaland going forward

Aveo’s share price has failed to recover since a Four Corners investigation uncovered alleged poor practices a fortnight ago, sparking speculation the company could go private in a bid to offset the negative publicity.

Shares in the company, which previously was known as FKP, are at an all-time low of $2.54 and there is little sign of a recovery any time soon.

Aveo has endured a torrid run over the past year, exacerbated by the ABC investigation. ACCC chairman Rod Sims said the regulator would look at some of the issues raised in the show, especially around pricing.

Aveo’s share price fell from $3.06 in the days before the Four Corners show was aired, wiping hundreds of millions off the company’s market capitalisation. The company is now worth $1.47bn and is thought to be looking at its options.

With Mulpha’s 22 per cent stake and Seng Huang Lee’s control of the company, a takeover is thought unlikely.

Deal-makers say one option is a privatisation. The rationale is that the negative publicity and hits to Aveo’s brand are not likely to subside soon and will have a major effect on sales of retirement villages and homes.

Taking the company private at the depressed share price could be a relatively cheap exercise.

Also, the business of running aged care as a public concern is seen as tough. The companies effectively make money out of death and the nature of the business is no secret.

Moelis on Friday said Aveo is trading 20 per cent below its last net tangible asset value of $3.21. It said the company should not press ahead with its announced plan to buy back up to 10 per cent of its stock. The scheme was revealed in the aftermath of the ABC reports and viewed as a way to convince shareholders not to join the run of investors exiting the stock.

Moelis cut its ratings from a buy to a hold and reduced its price target by 25 per cent to $2.72. It said it was vital for retirement home and aged care players to make a commercial return in order to attract private capital and investment to fund development.

But it’s a tough game. Morgan Stanley and Gresham has been trying to sell Lendlease’s retirement village business for a few months.

that day, someone will hit, criticize anyone talk bad on AAX. strongest supporter, suddenly change wind to oil, gas story. wakaka...

Mulfart keep selling out loss making mudajaya. only left 90million shares/ 16.77% stake.

nothing is not possible in stock market. pak lah finally wake up from zzzzzzz. hurray

I think sticking dating this nenek Yap much better. wakaka...nenek is slow, conservative in business approach...if too aggressive with debts, i'll have sleepless night

Nenek Yap boleh...hold bit longer...Nenek Yap will transform into pretty angel one day...Bear in mind it still got ~60acres Mont Kiara land JV with Dutaland can generate billions of revenue from condo dev. going forward

The Board of Directors of Olympia wishes to announce that the Company together with the remaining shareholders of Jupiter Securities Sdn Bhd (collectively “Vendors”) had on 6 September 2017 entered into a Share Purchase Agreement (“SPA”) with CIMB Group Sdn Bhd (Company 706803-D) of Level 13, Menara CIMB, Jalan Stesen Sentral 2, Kuala Lumpur Sentral, 50470 Kuala Lumpur (“Purchaser” or “CIMBG”) for the disposal of the entire issued and paid-up share capital in Jupiter Securities Sdn Bhd (“JSSB”) consisting of 80,288,775 ordinary shares (after full conversion of the 2,000,000 redeemable convertible preference shares (“RCPS”) held by Olympia) (“Sale Shares”) to the Purchaser for a total cash consideration of RM55,000,000.

Y.A.M. Tunku Naquiyuddin ibni Tuanku Ja'afar is the chairman of both Olympia and Sino Hua-an...since Sino Hua-an rise so much, hopefully Nenek Yap olympia can chase up as well. Go, Go, Go, Nenek Yap...

except strong net cash level, salcon is like a Jack of all trades, master of none -investor will like to see what is its core business, but none..sana sikit, situ sikit...So, how to classify them?

Perhaps, boss already turn over a new leaf. Give him a chance to prove himself ma. wakaka

why declare myr95Million 2nd Qtr profit can't move up this sleeping counter? anything amiss?

i believe I can fly. wakaka

yes. fully supported more players in the renewable energy like solar to bring down the expensive tariff monopolized by tenaga. power industry should be fully liberalized to open competition to lower poor citizens' cost. When market feedstock like LNG gas, coal falling, tariff still never abjusted down in tandem with lower cost by tenaga, sole provider. i thought we have anti-trust policy but never apply for power ind.. why?

Whenever one have stake in all units, so it becomes a catch-22 situation to accept or decline the offer. scomies holders who feel short-changed can vote down this consolidation for sure

Gong Xi, Gong Xi Ni...Nenek Yap active finally

As per today's STAR news, its thru share swap...No cash involved. ex. consolidation, less shares circulated...only not sure about the values attached one each unit. let's wait and see for this good news...I strongly believe IJM- govt. linked co. can turnaround this paper toilet one day, wakaka

SCOMI, SCOMIES, SCOMIEN NTA are ~ MYR0.30/ MYR0.32/ MYR0.60....so, we guess how much IJM will offer to us for each unit?

Consolidation of all 3 units into one long over-due to save directors fee, etc. and achieve cost synergy....23 directors, crazy fees perks/ benefits. directors high fee, management fee eat up all the profit leaving banana for us only. wakaka

What happen to JV with Taiwanese developer, Chun Fu? No news? I'm waiting eagerly for this Nenek Ching to kick start the long pending resort project. Nenek Ching very slow to decide....

As per circular, Salcon sold out its Yarra property to a JV co. and earn myr2Million + earlier advance ~ myr50Million....Cash level rising up again....ok. quite a safe company with stronger balance sheet. hold for long term....big dividend very likely with ample cash

I'm still holding this Nenek Yap's shares till now. This Nenek Yap is very slow to decide whether to sell Jupiter or not....Slow is ok if eventually end up with higher sales value than myr50Million (sales value:7X)....let's wait and see for the great news.....2ndly, will Nenek Yap merge both Dutaland and Olympia one day???

Malaysian-listed Salcon has brushed aside concerns about Melbourne’s apartment market, forging into the Australian ­property sector with the purchase of key site in up-market South Yarra that can support a $230 million luxury complex.

The Malaysian group swooped on the 2125sq m land parcel, buying 16-22 Claremont Street from the private K&E Rogers Pty Ltd for $37.88m in a deal struck late last week.

Mark Wizel and Lewis Tong of CBRE and Trent Hobart and John Marasco of Colliers International marketed the property.

The firms’ representatives were unavailable for comment.

One driver for the Malaysian group to buy in Melbourne had been “the general slowing down in the Malaysian property market”, which led it to diversify its property development portfolio overseas.

“This acquisition will allow the group the opportunity to ­establish a presence in the Australian property market, where demand for Australian properties has remained strong in key cities such as Melbourne, in ­particular in the inner-city areas,” Salcon said.

The property is well positioned in South Yarra, adjacent to the Chapel Street and Toorak Road shopping strips and near a railway station. Salcon plans to develop a residential complex of 336 units with a retail podium.

Offshore developers are also chasing sites in Melbourne’s middle-ring suburbs.

Not-for-profits Navy Health and Scope have sold their adjoining Box Hill properties for just over $30m to one Chinese developer.

That sale, of 826 and 830 Whitehorse Road, set a suburb record of almost $12,000 a sq m, according to Savills’ Clinton Baxter, who brokered the sale with colleagues Nick Peden and Jesse Radisich. The campaign generated spirited bidding ­between several Chinese bidders for the properties.

“The sale is a tremendous ­endorsement of the Melbourne and Box Hill development market, placing Box Hill property on a par with land rates being achieved close to Melbourne’s CBD, and demonstrating the ­development powerhouse that Box Hill has become in recent years,” Mr Baxter said.

Competition between prospective purchasers reflected an ongoing confidence in Melbourne and areas like Box Hill.

The site’s zoning allows for a landmark development with planning advice from Urbis ­indicating a potential building height of more than 30 levels, with a yield of more than 500 apartments.

salcon bought at AUD38million but sold at AUD120K to EWI...why make this stupid deal? all minority must shoot down this stupid deal. directors think we're idiot?

No wonder its share keep falling due to this fishy property deal? Is salcon sell at profit/ loss How much is the profit from sales to EWI. SC, pls look into/ probe this suspicious deal..

Strongly agree with Calvin on palm oil recovery

CEPAT just announce amazing 2nd Qtr result. Hurray! MYR70Million revenue with myr9.6Million net profit....

If govt. allow Sabah Karambunai open new casino, sure all Chinaman will come in visiting Sabah...then, i'll bet on this share.

with strong cash buffer, myr250million or myr0.36/ per share cash-salcon is fundamentally strong to withstand any shock. Shorting is the trend nowadays, nothing to do with company's fundamental. I'm still holding tight this counter, believe on its well diversified model and strong balance sheet.

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has installed the biggest crude distillation column for its Refinery and Petrochemical Integrated Development (RAPID), currently under construction within the Pengerang Integrated Complex (PIC).

Designed by Sinopec Engineering and fabricated by KNM Process Systems Sdn Bhd in Gebeng, Pahang, the distillation column is able to process 300,000 barrels per stream day (bpsd) of medium-to-heavy sour crude oil.

The column, measuring 10 metres wide and 66 metres in height weighs 1,300 tonnes, making it among the biggest single crude distillation column in the refining industry.

With its sheer magnitude, the mega structure successfully earned an entry in the Malaysia Book of Records for the biggest crude distillation column.

Petronas Refinery and Petrochemical Corporation (PRPC) senior vice president and chief executive officer Dr Colin Wong Hee Huing in a statement said, ”As at June 2017, the overall progress of the PIC development stood at almost 70% towards completion, and with the successful installation of the distillation column, the project is on track to achieve its first refinery startup in the first quarter of 2019.”

Present to witness the installation were Petronas executive vice president and chief executive officer of downstream business Arif Mahmood and Sinopec Engineering Incorporation’s vice president Zhao Xiang Dong.

Developed on a single site measuring 6,242 acres with an investment of US$27bil, the PIC is supported by associated facilities which comprises the Pengerang Co-generation Plant (PCP), an LNG re-gasification terminal, a raw water supply project (PAMER), the Pengerang deepwater terminal, as well as centralised and shared utilities and facilities.

Borsig germany 175 years history brand really got no value which why got goodwill cost? really worthless and must deduct mei???

Already at this rock bottom price ...next Qtr if loss is not unexpected as bioethanol set up in Thailand not yet cash cow. give them sometime, renewable is the future with gestation period...I'm on long term on KNM's future potential

Simon2020, thank you for yr good analysis. yes- just bought knm a bit with this strong point on borsig

We should ask why many still flock to SIN, AU, Canada, UK, NZ property despite of very very high price vs Malaysia???? Falling MYR with cheap property price in Malaysia still incur high over-hang unsold property.Why? How sure we are that price is the only consideration for investors?

KUALA LUMPUR, July 7 — The Johor state government said it will meet with property developers to solve the glut of over 80,000 unsold Bumiputera properties worth tens of millions of ringgit.

Johor state housing and local government committee chairman Datuk Md Jais Sarday said he would be engaging talks with the Real Estate and Housing Developers Association (Rehda) soon to find a remedy on this issue.

“I have been told that developers are facing a lot of constraints, including cash flow as a result of holding on to the Bumi units for long periods,” he was quoted as saying in The Star.

“We have to find a win-win situation to address this issue as we need developers to continue building low and affordable homes,” he added.

According to the news report, the Bumiputera properties comprise condominiums, apartments, shop lots, industrial lots and luxury houses.

In the same report, Johor Rehda chairman Datuk Steve Chong said he looked forward to the meeting with Md Jais.

“These unsold bumi lots are a problem facing [by] all developers,” he was quoted as saying.

He pointed that all projects in Johor are required to set aside 40 per cent as Bumiputera lots.

Govt., + LHDN+custom's eagerness to increase tax revenue backfired with nothing as many choose close business. many other place with lower cost such as vietnam, thailand, myammar investor can opt. from nowadays. we already lose the competitivenss as low cost base for MNC. many will jobless going forward. PEN as MNC eletronic base hit the most