Lee Kim yew beli...nampaknya good sign

Higher prices of the tropical oil over the past year created a profit windfall for the industry, making the time ripe for cash-rich planters to snap up plantation assets. It’s also an opportunity to monetize estates for smaller-sized growers grappling with rising operational costs and worker shortages, as well as heightened scrutiny on environmental, social and governance issues.

Palm oil, used in everything from cooking oil to chocolate and detergent, is trading more than 40% above its five-year average amid a global rally in farm commodities, lower-than-expected production and optimism over demand. Still, while vaccination efforts are picking up in some parts of the world, several countries are battling fresh infections and renewed lockdowns, complicating matters for an industry so heavily reliant on manual labour.

“Sellers are bringing down prices to more reasonable levels because they see the challenges of labour shortages, forced labour allegations, and sustainability issues,” said Ivy Ng, head of research at CGS-CIMB in Kuala Lumpur. “Buyers are more confident of striking a deal because palm oil prices have been pretty good for the last nine months.”

Some companies are also looking to sell plantation assets to relieve debt burdens worsened by the Covid-19 pandemic, she said. “The high palm oil price means getting a better value. They have to sell those assets that are doing relatively well, and therefore plantations are the ones being transacted.”

Malaysian conglomerate Boustead Holdings Bhd is weighing options for its listed palm oil subsidiary including a sale, Bloomberg reported Wednesday, citing people with knowledge of the matter. Boustead Plantations Bhd, which has a market value of about RM1.4 billion, may be sold, or see its plantations leased to third parties or sold separately.

The potential sale comes on the heels of Kuala Lumpur Kepong Bhd.’s takeover bid of IJM Plantations Bhd for RM1.5 billion last month.

More deals may materialize in coming months. Listed plantation companies with high net gearing and financial commitments may consider offers from growers looking to expand. Buyers — especially palm giants with economies of scale to cope with higher ESG compliance costs — will be scrutinizing the quality of estates, the age profile of trees and sustainable certification

Higher prices of the tropical oil over the past year created a profit windfall for the industry, making the time ripe for cash-rich planters to snap up plantation assets. It’s also an opportunity to monetize estates for smaller-sized growers grappling with rising operational costs and worker shortages, as well as heightened scrutiny on environmental, social and governance issues.

Palm oil, used in everything from cooking oil to chocolate and detergent, is trading more than 40% above its five-year average amid a global rally in farm commodities, lower-than-expected production and optimism over demand. Still, while vaccination efforts are picking up in some parts of the world, several countries are battling fresh infections and renewed lockdowns, complicating matters for an industry so heavily reliant on manual labour.

“Sellers are bringing down prices to more reasonable levels because they see the challenges of labour shortages, forced labour allegations, and sustainability issues,” said Ivy Ng, head of research at CGS-CIMB in Kuala Lumpur. “Buyers are more confident of striking a deal because palm oil prices have been pretty good for the last nine months.”

Some companies are also looking to sell plantation assets to relieve debt burdens worsened by the Covid-19 pandemic, she said. “The high palm oil price means getting a better value. They have to sell those assets that are doing relatively well, and therefore plantations are the ones being transacted.”

Malaysian conglomerate Boustead Holdings Bhd is weighing options for its listed palm oil subsidiary including a sale, Bloomberg reported Wednesday, citing people with knowledge of the matter. Boustead Plantations Bhd, which has a market value of about RM1.4 billion, may be sold, or see its plantations leased to third parties or sold separately.

The potential sale comes on the heels of Kuala Lumpur Kepong Bhd.’s takeover bid of IJM Plantations Bhd for RM1.5 billion last month.

More deals may materialize in coming months. Listed plantation companies with high net gearing and financial commitments may consider offers from growers looking to expand. Buyers — especially palm giants with economies of scale to cope with higher ESG compliance costs — will be scrutinizing the quality of estates, the age profile of trees and sustainable certification

Boustead plantation will be in big news by this month or August month, landslide exit for exciting shareholder including retail investor

Boustead plantation will be in big news by this month or August month, landslide exit for exciting shareholder including retail investor

https://www.theedgemarkets.com/article/boustead-holdings-said-mull-options-palm-oil-unit

https://www.theedgemarkets.com/article/boustead-holdings-said-mull-options-palm-oil-unit

Malaysian conglomerate Boustead Holdings Bhd is weighing options for its listed palm oil subsidiary including a sale, people with knowledge of the matter said.

The parent of Boustead Plantations Bhd is working with an adviser on the potential options, the people said, asking not to be named as the information is private. A plan could be implemented as soon as in the next few weeks, they said.

The holding company, which owns 57.4% of the subsidiary, could sell the unit or lease the plantations to third parties, the people said. Another option is to sell the individual plantations separately, one of the people said.

Malaysia’s armed forces pension fund Lembaga Tabung Angkatan Tentera, the majority shareholder of Boustead Holdings, owns 12.1% of the plantations unit, according to data compiled by Bloomberg. Boustead Plantations has a market value of about RM1.3 billion.

Deliberations are still ongoing and Boustead Holdings could decide not to proceed with a sale, the people said.

Boustead Holdings does not have immediate plans to pare down its stake in Boustead Plantations, a spokesperson said in response to a Bloomberg News query. Boustead Plantations is a core contributor to the group’s performance, however the company is continuously on the lookout to unlock value within the group, they said.

Restructuring challenges
The potential sale comes as Boustead Holdings is attempting to reinvent itself amid difficulties that predate the coronavirus pandemic, including debt totalling almost RM7.5 billion, according to its earnings statement for the quarter ended March 31. Its shares tumbled in February after LTAT announced it would not proceed with a take-private proposal for Boustead, citing economic challenges from the coronavirus pandemic.

The restructuring plan by one of Malaysia’s oldest conglomerates, which traces its roots to 1828, included a pledge to dispose of non-strategic assets.

Palm oil prices are up 3.7% this year after touching an all-time high in May. Palm oil planter Kuala Lumpur Kepong Bhd last month offered to buy a controlling stake in smaller rival IJM Plantations Bhd for RM1.5 billion.

Boustead Plantations owns and leases a total of 48 oil palm plantation estates and 10 palm oil mills in Malaysia, according to its website. Its land bank consists of more than 98,200 hectares, of which 79,400 hectares are used for oil palm cultivation.

The unit’s chief executive officer Ibrahim Abdul Majid resigned in order to join Boustead Holdings, according to an exchange filing Tuesday. Majid will lead the company’s plantation technology and innovation initiatives

Malaysian conglomerate Boustead Holdings Bhd is weighing options for its listed palm oil subsidiary including a sale, people with knowledge of the matter said.

The parent of Boustead Plantations Bhd is working with an adviser on the potential options, the people said, asking not to be named as the information is private. A plan could be implemented as soon as in the next few weeks, they said.

The holding company, which owns 57.4% of the subsidiary, could sell the unit or lease the plantations to third parties, the people said. Another option is to sell the individual plantations separately, one of the people said.

Malaysia’s armed forces pension fund Lembaga Tabung Angkatan Tentera, the majority shareholder of Boustead Holdings, owns 12.1% of the plantations unit, according to data compiled by Bloomberg. Boustead Plantations has a market value of about RM1.3 billion.

Deliberations are still ongoing and Boustead Holdings could decide not to proceed with a sale, the people said.

Boustead Holdings does not have immediate plans to pare down its stake in Boustead Plantations, a spokesperson said in response to a Bloomberg News query. Boustead Plantations is a core contributor to the group’s performance, however the company is continuously on the lookout to unlock value within the group, they said.

Restructuring challenges
The potential sale comes as Boustead Holdings is attempting to reinvent itself amid difficulties that predate the coronavirus pandemic, including debt totalling almost RM7.5 billion, according to its earnings statement for the quarter ended March 31. Its shares tumbled in February after LTAT announced it would not proceed with a take-private proposal for Boustead, citing economic challenges from the coronavirus pandemic.

The restructuring plan by one of Malaysia’s oldest conglomerates, which traces its roots to 1828, included a pledge to dispose of non-strategic assets.

Palm oil prices are up 3.7% this year after touching an all-time high in May. Palm oil planter Kuala Lumpur Kepong Bhd last month offered to buy a controlling stake in smaller rival IJM Plantations Bhd for RM1.5 billion.

Boustead Plantations owns and leases a total of 48 oil palm plantation estates and 10 palm oil mills in Malaysia, according to its website. Its land bank consists of more than 98,200 hectares, of which 79,400 hectares are used for oil palm cultivation.

The unit’s chief executive officer Ibrahim Abdul Majid resigned in order to join Boustead Holdings, according to an exchange filing Tuesday. Majid will lead the company’s plantation technology and innovation initiatives

UEM Sunrise (UEMS MK)
Buys land in Cheras

Maybank :
Share Price MYR 0.42
12m Price Target MYR 0.43 (+2%) hold
Previous Price Target MYR 0.43


The 2nd fast turnaround project in Cheras
We are neutral on UEMS’s latest land acquisition near Taman Connaught MRT in Cheras. This newly acquired land, which has an estimated GDV of MYR1b, will be priced affordably (MYR500k/unit), targeting the young homeowners. The new project will likely enhance our 2023 EPS by +0.04sen. We maintain our earnings forecasts, MYR0.43TP (on 0.3x PBV and HOLD rating. Our picks for the sector: SPSB and ECWI.
Acquires 6.86 acres land in Tmn Connought
UEMS has signed a SPA with Accolade Land S/B to acquire 6.86 acres of freehold land adjacent to the Taman Connaught MRT station in Cheras for MYR197m (MYR659psf). The land will be developed into high-rise transit- oriented development that is targeting young homeowners who are looking for residences with immediate accessibility into the city centre.
Neutral on the land deal
We are neutral on the latest land purchase in Cheras due to its relatively higher land cost of MYR659psf versus recent land acquisition by Sunway near EkoCheras Mall at MYR289psf. The premium pricing (19.7% of estimated GDV of MYR1b), however, could be attributed to its close proximity to Taman Connaught MRT station and ready development order as well as an estimated plot ratio of 6. The land, which will be developed into high-rise apartments priced at around MYR500k/unit, is aiming at young homeowners.
Could enhance our RNAV by +0.6sen
UEMS plans to launch the project by 2H2022. Assuming a pretax margin of 15% and development period of 5 years, we expect the project to enhance our 2023 EPS by merely +0.04sen, while enhancing our RNAV estimate by +0.6sen. We keep our earnings forecasts unchanged for now pending further details from management.

The Board of MMC (“Board”) wishes to announce that the Company has today received a letter from its controlling shareholder, Seaport Terminal (Johore) Sdn Bhd (“STJSB” or “Offeror”), requesting the Company to undertake a selective capital reduction and repayment exercise pursuant to Section 116 of the Companies Act 2016 (“SCR Offer Letter”).

The Proposed SCR entails a selective capital reduction and a corresponding capital repayment of a proposed cash amount of RM2.00 for each ordinary share in MMC held by all shareholders of MMC (other than STJSB and persons acting in concert with them) whose names appear in the Record of Depositors of MMC as at the close of business on an entitlement date to be determined and announced later by the Board.

The Board, save for Sharifah Sofia Syed Mokhtar Shah who is an interested director, will deliberate on the Proposed SCR and decide on the next course of action. Accordingly, a further announcement will be made in due course after the Board’s deliberation.

Please refer to the SCR Offer Letter for further details on the Proposed SCR.

This announcement is dated 3 June 2021.

赛莫达要私有化？MMC机构有重大宣布暂停交易


MMC机构（MMCCORP,2194,主板交通物流组）配合重大宣布，从周四午盘开始暂停交易，引发市场揣测大股东丹斯里赛莫达可能将之私有化。

市场人士披露，赛莫达拟透过选择性每股削资1令吉80仙至2令吉，将MMC机构私有化，从而为涉及港口业务上市需展开的大型重组计划铺路。

MMC机构在过去2周涨势强劲，从5月20日的1令吉零2仙一路飙至今日暂停交易前的1令吉30仙，涨幅达到27.45％。

MMC机构在去年就传出有意分拆港口资产上市，潜在上市计划可能筹措约10亿美元（约41亿4800万令吉）。

目前，MMC机构旗下拥有的港口资产，包括南马丹绒柏拉巴斯港口及柔佛港口、中马巴生北港，以及北马槟城港口等，同时掌控马拉科夫（MALAKOF,5264,主板公用事业组）及大马气体（GASMSIA,5209,主板公用事业组）2家上市公司

I think the rumours of privatisation is getting real and stronger !
But wish not going to happen coz even major shareholder offer at RM1.80 , it's still deem super undervalue based on MMC NTA of RM3.21 per share

https://youtu.be/lIsc9pmAsnU

"MMC likely to undertake ship-to-ship transfer business in Yan | The Edge Markets" https://www.theedgemarkets.com/article/mmc-likely-undertake-shiptoship-transfer-business-yan

MMC Corp Bhd will likely be able to sustain its growth momentum through 2021 after seeing a strong first-quarter performance, thanks to its robust ports and logistics division.

The conglomerate, which is actively bidding for new projects, will also likely see its order book expand, thus improving medium to long-term earnings visibility

https://www.thestar.com.my/business/business-news/2021/05/27/mmc-likely-to-see-order-book-expansion

Breaking News!!!

The high possibility of WESTPORT merge wth MMC PORT

**the collaboration between the two port giant in land acquisition at Pulau Indah from Boustead company is a start of merger exercise

fair value (FV) of RM1.68
based on sum-of-parts (SOP) valuation (Exhibit 3) adjusted for a 3% discount to reflect a 2-star ESG rating as appraised by us (Exhibit 5). The FV values MMC’s port division at 16x FY21F EPS (a 30% discount to its peers' historical average to reflect its lower margins). Maintain BUY.
 MMC's 1QFY21 core net profit of RM105.9mil (adjusted for
gains from sublease of land at PTP) came in at 25% and 31% of our full-year forecast and full-year consensus estimates respectively. We consider the results within our forecast but above market expectations.

Mmc's results...: For the financial period ended 31 March 2021, the Group recorded RM1,143.7 million in revenue, a 5.2% increase from RM1,086.8 million reported in the corresponding financial period ended 31 March 2020 due to higher volume handled at Pelabuhan Tanjung Pelepas Sdn Bhd (“PTP”) and Northport Malaysia Berhad (“NMB”). These were offset by lower work progress from KVMRT-SSP Line, lower passenger and cargo volumes at Senai Airport, and lower volume handled at Penang Port Sdn Bhd (“PPSB”).
The Group’s Profit before zakat and taxation increased to RM221.0 million compared with RM114.8 million reported in the corresponding financial period ended 31 March 2020 in line with higher volume handled at PTP and NMB, gain on sublease of land at PTP, and lower finance costs incurred. These were offset by lower contribution from KVMRT-SSP Line, Senai Airport and PPSB, as mentioned above.

The Edge this week magazine features MMC news on page 18, super good news on MMC involvement and undertake ship to ship transfer port business at Yan, Kedah

"Seaport segment poised to grow further in 2021 as global trade recovery gains momentum, says AmInvestment | The Edge Markets" https://www.theedgemarkets.com/article/seaport-segment-poised-grow-further-2021-global-trade-recovery-gains-momentum-says

"MMC mulls reviving RM4.1bil IPO of port assets | The Star" https://www.thestar.com.my/business/business-news/2020/10/23/mmc-mulls-reviving-rm41bil-ipo-of-port-assets

"AmInvestment keeps 'buy' call on MMC Corp on favourable ports outlook | The Edge Markets" https://www.theedgemarkets.com/article/aminvestment-keeps-buy-call-mmc-favourable-ports-outlook

Yesterday dispose all my UEM Sunrise share , hopeless counter and suffered losses of 40% for past 1 year
Right issue anytime wth their negative cashflow

Hartalega 4th quarter result ended 31/03/2021 will be released on *04/05/2021*

**expected to exceed RM2.1bil in profit

Hartalega 4th quarter result ended 31/03/2021 will be released on *04/05/2021*

**expected to exceed RM2.1bil in profit

Hartalega 4th quarter result ended 31/03/2021 will be released on *04/05/2021*

**expected to exceed RM2.1bil in profit

Hartalega 4th quarter result ended 31/03/2021 will be released on *04/05/2021*

**expected to exceed RM2.1bil in profit

In a shocking new report on the COVID-19 vaccines, it has been discovered that the Pfizer coronavirus vaccine may have long term health effects not previously disclosed, including “ALS, Alzheimer’s, and other neurological degenerative diseases.”

“The current RNA based SARSCoV-2 vaccines were approved in the US using an emergency order without extensive long term safety testing,” the report declares. “In this paper the Pfizer COVID-19 vaccine was evaluated for the potential to induce prion-based disease in vaccine recipients.” Prion-based diseases are, according to the CDC, a form of neurodegenerative diseases, meaning that the Pfizer vaccine is potentially likely to cause long term damage and negative health effects with regards to the brain.



https://nationalfile.com/report-pfizer-vaccine-confirmed-to-cause-neurodegenerative-diseases/

In a shocking new report on the COVID-19 vaccines, it has been discovered that the Pfizer coronavirus vaccine may have long term health effects not previously disclosed, including “ALS, Alzheimer’s, and other neurological degenerative diseases.”

“The current RNA based SARSCoV-2 vaccines were approved in the US using an emergency order without extensive long term safety testing,” the report declares. “In this paper the Pfizer COVID-19 vaccine was evaluated for the potential to induce prion-based disease in vaccine recipients.” Prion-based diseases are, according to the CDC, a form of neurodegenerative diseases, meaning that the Pfizer vaccine is potentially likely to cause long term damage and negative health effects with regards to the brain.



https://nationalfile.com/report-pfizer-vaccine-confirmed-to-cause-neurodegenerative-diseases/

"刺激方案推动复苏中制造业　交通物流“钱”景佳 - 财经 | | 星洲网 Sin Chew Daily" https://amp.sinchew.com.my/content/content_2462729.html

"刺激方案推动复苏中制造业　交通物流“钱”景佳 - 财经 | | 星洲网 Sin Chew Daily" https://amp.sinchew.com.my/content/content_2462729.html

"Mixed fortunes for transport sector | The Star" https://www.thestar.com.my/business/business-news/2021/04/20/mixed-fortunes-for-transport-sector

MMC Corp sees higher demand for cargo storage at PTP after Suez Canal blockage

MMC Corp Bhd has benefitted from higher demand for cargo storage space at its Port of Tanjung Pelepas in Johor, which is operated by its unit Pelabuhan Tanjung Pelepas Sdn Bhd, due to the recent blockage at the Suez Canal caused by a trapped container ship. 

Speaking at a media briefing today, group managing director Datuk Seri Che Khalib Mohamad Noh said the port was able to accommodate requests for temporary cargo storage.



- The Edge Markets http://www.theedgemarkets.com/article/mmc-corp-sees-higher-demand-cargo-storage-ptp-after-suez-canal-blockage#.YG7z6mNsSjw.whatsapp

"Stocks on Radar - MMC Corporation (2194) - AmInvest Research Reports | I3investor" https://klse.i3investor.com/m/blog/AmInvestResearch/2021-04-05-story-h1563159557-Stocks_on_Radar_MMC_Corporation_2194.jsp

Cabinet has given the green light to go ahead with the MRT Circle line or MRT3, which was suspended by the Pakatan Harapan government.

Transport Minister Datuk Seri Wee Ka Siong said that on Saturday (April 3), adding that MRT Corp hoped to kick start the project in the second half of the year. As for the beneficiaries, Gamuda Bhd and MMC Corp Bhd stand out as the obvious potential beneficiary for MRT 3 given their prior experience with MRT 1 and MRT 2 lines

PM Muhyiddin : DRB-Hicom, Malakoff confirmed they will invest in Pagoh Special Economic Zone

MIDF Research is confident over MMC Corp Bhd as a recovery stock play as the group has proven its resilience amid the pandemic.

The research house said this is given the group's diverse revenue streams and deep undervaluation vis-a-vis its asset base with its book value at only RM3.38 per share.


https://www.thestar.com.my/business/business-news/2021/03/02/mmc-remains-deeply-undervalued-says-midf

AmInvest
Stock : MMCCORP Price Target : 1.49 | Price Call : BUY
Last Price : 0.88 | Upside/Downside : +0.61 (69.32%)

We maintain our forecasts but tweak our fair value (FV) down slightly by 3% to RM1.49 (from RM1.54) based on “sum of parts” (SOP), adjusting for a 3% discount to reflect a 2-star ESG rating as appraised by us (Exhibits 1, 2 & 5). The FV values MMC’s ports division at 16x FY21F earnings (a 30% discount to its peers' historical average to reflect its lower margins). Maintain BUY.
We came away from MMC’s analyst briefing feeling positive. The key takeaways are as follows:
Outlook for ports: MMC highlighted that the sector’s outlook remains positive in FY21F as economies reopen. Already, PTP registered a record container volume handled of 9.85mil TEUs in FY20, translating to an 8% growth YoY. It also expects stronger container volume recovery at Penang Port underpinned by the return of containers’ volume from southern Thailand following the reopening of borders for cargoes, coupled with its recently awarded free commercial zone status (which enables it to tap into the transshipment market).

Northport: Similarly, it recorded the highest monthly volume of 310.5K TEUs handled in December 2020, backed by the return of major shipping lines such as ONE, Evergreen, MSC amid port congestion experienced at Westports and Port of Singapore (PSA). This brought its total container volume handled to 2.7mil TEUs in FY20, translating to a 0.6% increase YoY. For the year, it has received 108 ad-hoc calls and observed nine diversion of services from Westports, as well as nine new services calling at the port.

MMC shared more information on Aliran Ihsan Resources (AIRB) (which makes up about 5% of our SOP valuation). The integrated solution service provider in water and wastewater development has about three decades of experience in water supply services industry in Malaysia.
Some of its current projects include: (i) operation and maintenance (O&M) of two water treatment plants (WTPs) in Gunung Semanggol and Taiping; (ii) six industrial wastewater reclamation plants using membrane technology; and (iii) non-revenue water (NRW) reduction projects for sister companies Johor Port, Northport, Penang Port and Senai Airport, etc. Over the years, it has been shifting its focus from the traditional municipal businesses to higher growth segments such as water reclamation and NRW projects to boost margins.

The port sector in the region (Malaysia included) has come out from the pandemic relatively unscathed. Over the long term, its outlook is resilient underpinned by global trade and investments in the manufacturing sector that generate tremendous inbound (feedstock) and outbound (finished product) throughput for ports. There have been significant relocations of the manufacturing base by multi-national companies out of China due to the rising labour and land costs, exacerbated by the US-China trade war.
MMC Corp is well positioned to capitalise on these via its stable of five ports in Peninsular Malaysia with a total container handling capacity of 21.3mil TEUs annually (50% higher than its peer, Westports’ capacity of 14mil TEUs annually). We see value in MMC Corp with its port business valued at 9x forward P/E on a stand-alone basis.

MMC Corporation - Northport enjoys spillover from neighbouring ports


Stock : MMCCORP Source : AmInvest
Price Target : 1.49
Last Price : 0.875


We maintain our forecasts but tweak our fair value (FV) down slightly by 3% to RM1.49 (from RM1.54) based on “sum of parts” (SOP), adjusting for a 3% discount to reflect a 2-star ESG rating as appraised by us (Exhibits 1, 2 & 5). The FV values MMC’s ports division at 16x FY21F earnings (a 30% discount to its peers' historical average to reflect its lower margins). Maintain BUY.
We came away from MMC’s analyst briefing feeling positive. The key takeaways are as follows:
Outlook for ports: MMC highlighted that the sector’s outlook remains positive in FY21F as economies reopen. Already, PTP registered a record container volume handled of 9.85mil TEUs in FY20, translating to an 8% growth YoY. It also expects stronger container volume recovery at Penang Port underpinned by the return of containers’ volume from southern Thailand following the reopening of borders for cargoes, coupled with its recently awarded free commercial zone status (which enables it to tap into the transshipment market).

Northport: Similarly, it recorded the highest monthly volume of 310.5K TEUs handled in December 2020, backed by the return of major shipping lines such as ONE, Evergreen, MSC amid port congestion experienced at Westports and Port of Singapore (PSA). This brought its total container volume handled to 2.7mil TEUs in FY20, translating to a 0.6% increase YoY. For the year, it has received 108 ad-hoc calls and observed nine diversion of services from Westports, as well as nine new services calling at the port.

MMC shared more information on Aliran Ihsan Resources (AIRB) (which makes up about 5% of our SOP valuation). The integrated solution service provider in water and wastewater development has about three decades of experience in water supply services industry in Malaysia.
Some of its current projects include: (i) operation and maintenance (O&M) of two water treatment plants (WTPs) in Gunung Semanggol and Taiping; (ii) six industrial wastewater reclamation plants using membrane technology; and (iii) non-revenue water (NRW) reduction projects for sister companies Johor Port, Northport, Penang Port and Senai Airport, etc. Over the years, it has been shifting its focus from the traditional municipal businesses to higher growth segments such as water reclamation and NRW projects to boost margins.

The port sector in the region (Malaysia included) has come out from the pandemic relatively unscathed. Over the long term, its outlook is resilient underpinned by global trade and investments in the manufacturing sector that generate tremendous inbound (feedstock) and outbound (finished product) throughput for ports. There have been significant relocations of the manufacturing base by multi-national companies out of China due to the rising labour and land costs, exacerbated by the US-China trade war.
MMC Corp is well positioned to capitalise on these via its stable of five ports in Peninsular Malaysia with a total container handling capacity of 21.3mil TEUs annually (50% higher than its peer, Westports’ capacity of 14mil TEUs annually). We see value in MMC Corp with its port business valued at 9x forward P/E on a stand-alone basis.

kheensan deal fall through? rm0.23 shj

Trump announces new tariffs on Chinese goods amid bitter trade war

Trump escalates the trade fight between the U.S. and China, https://youtu.be/Bir9ZypFjOg

Trump announces new tariffs on Chinese goods amid bitter trade war

Trump escalates the trade fight between the U.S. and China, https://youtu.be/Bir9ZypFjOg

https://youtu.be/SAdhFmisk00 Trump says he will raise U.S. tariffs on Chinese goods..betul teruk

https://youtu.be/SAdhFmisk00 Trump says he will raise U.S. tariffs on Chinese goods..betul teruk

kheesan any bad news?

Hong Leong IB Research has maintained its “Buy” rating Genting Malaysia Bhd (GenM) at RM3.67 with a higher target price (TP) of RM4.21 (from RM3.53) and said the dispute between Fox-Disney and GenM is fully resolved.

In a note today, the research house said the outdoor theme park (OTP) will proceed with partly Fox and non-Fox IP.

https://www.theedgemarkets.com/article/hlib-research-raises-target-price-genting-malaysia-rm421

https://klse.i3investor.com/servlets/ptres/51380.jsp

GENM has settled the lawsuit with Fox, which is highly positive, fully resolving their disputes and dismissing all claims and counterclaims. More importantly, GENM is allowed to use certain Fox’s Intellectual Properties, which means less dismantling cost while construction work can resume soon, quickening its opening. As such, it is a huge price booster for GENM. We maintain OUTPERFORM on the stock with a revised target price of RM4.30.

Lawsuit with Fox settled. Yesterday, GENM announced that it and the defendants, namely 21st Century Fox and Walt Disney, have entered into a settlement fully resolving their disputes against each other and agreeing to dismiss all claims and counterclaims between both parties in the pending legal action in the US District Court for the Central District of California. To recap, GENM filed a USD1b claim in last November against the defendants for the latter’s cancellation of 20th Century Fox World theme park at Genting Highlands while the defendants also filed a counterclaim of USD46.5m against GENM in January.