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2018-08-30 14:58 | Report Abuse
Putrajaya appoints Petron as a fuel provider for gov't vehicles
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2018-08-21 15:42 | Report Abuse
KUALA LUMPUR: Sime Darby Plantation Bhd will work with China's agriproduct merchandiser and food producer COFCO Group Co. Ltd to produce certified-sustainable, high value palm oil products for the global market.
Sime Plantation, the world’s largest producer of certified sustainable palm oil, had on Tuesday signed a memorandum of understanding (MoU) with COFCO Group to work together on a number of palm oil related ventures.
The MoU includes a joint research on the health benefits of palm oil, developing capabilities to manufacture specialty oils and fats, and establishing joint sales and marketing activities to promote high value differentiated palm products in China.
Through these initiatives, both Sime Plantation and COFCO hope to create greater demand for certified sustainable palm oil and increase trade volumes between the two companies.
The signing event, held at the China World Summit Wing, was witnessed by Prime Minister Tun Dr Mahathir Mohamad as part of his five-day official visit to China.
Sime Plantation executive deputy chairman and managing director Tan Sri Mohd Bakke Salleh said the MoU “truly reflects our aspiration to be the leader in promoting the health benefits of palm oil and to produce certified-sustainable, high value palm oil products for the global market”.
“We look forward to seeing the positive results of combining Sime Darby Plantation R&D capabilities with COFCO’s expertise in advanced health-based food research,” he added.
Both companies will conduct further research on the health benefits of products such as palm tocotrienol, red palm olein, and palm kernel oil.
They intend to develop specialty products such as premium shortening and bakery fats for the Chinese market, and to explore possibilities to co-manufacture these healthy oils and specialty fats in Malaysia.
Modh Bakke said China is a key market for Malaysian palm oil and Sime Plantation was proud to contribute towards increasing trade volumes and strengthening of relations between Malaysia and China.
Read more at https://www.thestar.com.my/business/business-news/2018/08/21/sime-plantation-china-cofco-group-plan-palm-oil-ventures/#prOleVXKwfZdqghv.99
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2018-08-03 20:34 | Report Abuse
http://www.freemalaysiatoday.com/category/nation/2018/08/03/selangor-to-pay-rm2-55-billion-for-splash-takeover/
Selangor to pay RM2.55 billion for SPLASH takeover
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2018-08-03 20:34 | Report Abuse
HUAT HUAT AH.. ! untung lah… ! finally !
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2018-08-03 10:33 | Report Abuse
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2018-08-03 09:41 | Report Abuse
MB: Selangor water restructuring to be settled today
KLANG, Aug 3 — Selangor Mentri Besar Amiruddin Shaari said the state’s long-drawn water restructuring exercise will be completed today.
In his speech at Bandar Puteri here, he blamed the previous Barisan Nasional (BN) administration, accusing it of sabotaging the state government’s effort to address Selangor’s water woes.
“We hold on to our promise and direction. That is why today, you will hear that we will be offering much lower than the value fixed by the previous federal government.
“Although what we offer is low, but because we discussed honestly, we discussed transparently, God willing, today will be a big step,” he said.
He claimed the BN government blocked Selangor from utilising the Langat 2 water treatment plant that was already completed.
He said the problem was resolved when PKR’s Dr A. Xavier Jayakumar was made the water, land and natural resources minister.
The MB did not delve into details about water tariffs.
In a recent interview with Malay Mail, Dr Xavier said that water tariffs will inevitably increase after the Selangor state government resolves its water restructuring exercise this month.
Putrajaya has yet to announce the final price it will pay to complete the restructuring.
https://www.malaymail.com/s/1658687/MB-Selangor-water-restructuring-to-be-settled-today
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2018-08-03 09:39 | Report Abuse
KLANG: Selangor will finalise its water industry restructuring exercise by Friday.
Menteri Besar Amirudin Shari said the matter will soon be resolved and an announcement will be made on Friday.
He added that the actual cost involved in the taking over the concession from Syarikat Pengeluar Air Selangor Holdings (Splash) is lower then what was claimed by former Prime Minister Datuk Seri Najib Razak at a ceramah on Wednesday night.
Najib had alleged that the Selangor government will purchase Splash for a whopping RM2.7 billion.
“Yesterday, I heard Najib said the state government will fork out RM2.7 billion, a cost that will burden the people, in order to resolve the water issue.
“This is interesting because Najib, when he was the chairman for 1MDB, did not know what had happened to the billions of ringgit missing. And now that he is not in the cabinet, he supposedly knows that we are going to pay RM2.7 billion to resolve the issue.
“Tonight, I want Najib to listen very carefully, and for Umno leaders and the people of Selangor to understand. Tomorrow (Friday) we will create history (after years) of being sabotaged by the (then BN) Federal government.
“God-willing, Aug 3, following change (of government) in Putrajaya, we will conclude the water industry restructuring and takeover which was controlled by the previous (federal) government," Amirudin said in campaign speech for the Sungai Kandis by-election in Bandar Puteri.
Amirudin, after being sworn in as the Mentri Besar following the 14th general election had pledged to seek immediate solutions to issues surrounding the water industry restructuring in the state.
On Wednesday, Najib in a campaign speech, did not only claim that the Selangor government would purchase Splash for a whopping RM2.7 billion but also alleged that a ‘Tan Sri’, who has a 30 per cent stake in Splash, will benefit handsomely from the purchase.
He said that the Tan Sri is a crony of a top Pakatan Harapan (PH) leader and co-founder of a political party which he did not name.
Last Saturday, Water, Land and Natural Resources Minister Dr Xavier Jayakumar had brushed aside a foreign media report suggesting that the federal government is set to pay RM1.9 billion for the takeover of Splash.
Singapore’s Straits Times had reported that a joint-funding deal had been struck, and that the total buyout was set at between RM2.5 billion and RM2.7 billion, and that the Selangor government is expected to fork out between RM600 million and RM800 million.
It was reported that the process of restructuring the state’s water industry had been put on hold because of disagreements between the then PH state administration and BN federal government.
The state government, then led by Menteri Besar Datuk Seri Mohamed Azmin Ali, had rejected a proposal for the state government to bear 40 per cent of the cost and the ministry to pay 60 per cent.
Xavier had also said issues over the takeover would be resolved by early August.
https://www.nst.com.my/news/nation/2018/08/397399/selangor-finalise-water-industry-restructuring-friday
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2018-08-02 09:15 | Report Abuse
PETALING JAYA: DRB-Hicom is expected to make a gain of RM735.4mil from its proposed sale of Alam Flora Sdn Bhd (AFSB) to Malakoff Corp Bhd’s unit.
In its filings with Bursa Malaysia, the diversified conglomerate said its wholly owned subsidiary - Hicom Holdings Bhd - had entered into a conditional share sale agreement with Tunas Pancar Sdn Bhd to dispose of its entire 97.37% stake, or 74 million shares, in AFSB for RM944.6mil cash.
AFSB is principally involved in the provision of integrated solid waste collection and public cleansing management services.
“The proposed disposal provides an opportunity for the DRB-Hicom group to unlock the value and monetise its investment in AFSB group at an attractive price,” the company said.
“Based on the disposal consideration, the proposed disposal will give rise to an estimated net gain of RM735.4mil,” it added.
DRB-Hicom said part of the proceeds from the proposed disposal would be used to repay its borrowings. This, it said, would enable the company to preserve its internally generated funds.
The group added that the proposed disposal would allow DRB-Hicom to partly use the proceeds for its 50.1%-subsidiary, Proton Holdings Bhd, which is currently undergoing a turnaround programme.
“This turnaround programme is underpinned by a 10-year business plan which involves quality improvement, cost optimisation and new model launches.
“The proceeds, if required by Proton, will be mainly used to part-finance the development cost for new models expected to be incurred within the next 12 months,” it said.
Read more at https://www.thestar.com.my/business/business-news/2018/08/02/drbhicom-to-gain-rm735mil-from-alam-flora-stake-sale/#UULtTq0PP5RO1r3L.99
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2018-08-01 09:16 | Report Abuse
KUALA LUMPUR (July 23): AllianceDBS Research said Opcom Holdings Bhd (Opcom) had on July 20 crossed over the 95 sen hurdle to reach an intraday high of 96 sen before settling at 94 sen (up 3.5 sen or 3.86%).
In its evening edition last Friday, the research house said a crossover of the 95 sen hurdle again would likely see Opcom trading upward with the next upside target pegged between 99 sen and 1.10.
It said risk taking traders can establish a buying position at 92 sen on a small pullback.
“Once a buying position is established, a stop loss at 90.5 sen level must be placed for risk capital protection, and this 90.5 sen is to be followed by a trailing stop loss strategy.
“If you are prepared to take a trading loss risk of RM15 (excluding brokerage) for RM70 – RM180 potential profit, you may acquire 1,000 shares with a capital amount of RM920 assuming buying order is filled at 92 sen,” it said.
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2018-08-01 09:16 | Report Abuse
the future is OPCOM …. as TM UNIFI expansions a lot to go... nationwide
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2018-08-01 09:15 | Report Abuse
huat huat huat!!!! estimate wil go as high 1.20 -1.50... buy keep it now
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2018-08-01 09:08 | Report Abuse
Opcom Holdings yang dipengerusikan oleh Datuk Seri Mokhzani Mahathir memperoleh kontrak bernilai RM11.16 juta daripada Telekom Malaysia (TM), beberapa hari selepas pilihan raya umum ke-14.
Mokhzani juga merupakan ketua pegawai eksekutif (CEO) syarikat berkenaan.
Opcom dalam satu kenyataan kepada Bursa Malaysia hari ini berkata ia telah menerima surat penganugerahan kontrak "Rakan Unifi" pada 14 Mei.
Kontrak yang bermula dari 2 Julai tahun ini sehingga 31 Dis 2019, adalah bagi kerja-kerja pemasangan dan pemulihan perkhidmatan Unifi.
"Penganugerahan ini dijangka menyumbang secara positif ke atas pendapatan dan aset bersih Opcom Group untuk tempoh penganugerahan," kata syarikat itu dalam pemfailan Bursa.
Adik Mokhzani iaitu Menteri Besar Kedah, Datuk Seri Mukhriz Mahathir mengasaskan Opcom dan memegang 25 peratus saham syarikat.
Opcom bagaimanapun berkata dalam kenyataannya bahawa "tidak ada pengarah dan pemegang saham utama Opcom dan / atau syarikat subsidiari atau mana-mana orang yang berhubung dengan mereka mempunyai apa-apa kepentingan, secara langsung atau tidak langsung, dalam kontrak (Rakan Unifi)."
Menurut The Star, saham Opcom melonjak 135 peratus sejak Mei dan pada Selasa ditutup 94 sen.
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2018-07-31 09:26 | Report Abuse
MRCB goin down...… due to uncertain news.... already sold....bye
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2018-07-27 11:26 | Report Abuse
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2018-07-19 10:50 | Report Abuse
NGO wants Minister to probe TM over broadband
Published on: Wednesday, July 18, 2018
Kota Kinabalu: The Consumers Front of Sabah (CFOS) wants Minister of Communications and Multimedia, Gobind Singh Deo, the Malaysian Anti-Corruption Commission (MACC) and the National Audit Department to investigate Telekom Malaysia's "reluctance to provide high-speed broadband service to the Palm Oil Industrial Cluster (POIC) in Lahad Datu".
Its Secretary-General Hashima Hasbullah Yahya said this is necessary to ascertain what went wrong with TM Sabah's operations, whether there's any abuse of power involving the previous administration and where the RM13m Capital Contribution paid by POIC had gone to.
"This issue must be promptly and thoroughly investigated, as it essentially involved huge amount of taxpayers' money," Hashima said.
CFOS claimed to have reliably informed that investors were unhappy with the services provided by TM.
She cited their applications for Unifi high-speed internet connection being rejected by TM supposedly because the Capital Contribution paid by POIC did not include the provision of such service.
She said in a statement, Tuesday, that until today, the telecommunication infrastructures were never completed although the place has been in operation for the last five years.
"We were told that not all of the agreed equipment, including the telecommunication cabinets were installed, and only part of the agreed fibre optic cable network were installed. None of the equipment was operational nor functional. Even the power supply to the equipment was still not available after 5 years.
Only early this year TM hastily commissioned the 1st equipment (cabinet), after investors threatened further actions," she alleged.
"Besides this, some of the works were also said to be of poor workmanship and not meeting TM's own standards and specifications."
She demanded to know if it was true that part of the Capital Contribution had been channelled to "other TM Projects" as what was claimed by a certain TM official.
It was also believed that the value of work that has been done was only a fraction of the Capital Contribution, yet there was not enough fund to fully complete and to deliver the agreed and promised telecommunication infrastructures to POIC.
She also questioned if it was justified for TM, being a key Government-linked company (GLC) and utility provider wholly-owned by the Government, to charge such exorbitant amount for a development project like POIC Sandakan which is a project of the Sabah Government.
"As a leading GLC, Telekom Malaysia should be a company of high integrity, acting as catalyst in aiding and enhancing the Government efforts in developments by providing more cost effective and more professional services. Charging such exorbitant fee is in fact counterproductive to the Government effort," she asserted.
Hashima recalled that the MACC recently revealed that it has received many complaints of scandals and alleged misappropriation by "sharks" in government departments and government-linked companies (GLCs).
MACC commissioner Datuk Seri Mohd Shukri Abdull was reported to have said that many people had come to the commission recently, including civil servants and employees of GLCs to expose these scandals.
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2018-07-17 09:00 | Report Abuse
Gabungan AQRS Bhd
(July 13, RM1.26)
Maintain buy with a higher target price (TP) of RM1.60: Gabungan AQRS reported its first half ended June 30, 2018 (1HFY18) results that were above our expectations but within the street’s expectations.
Gabungan AQRS reported a net profit of RM35.6 million in 1HFY18 comprising 50% of consensus full-year forecast of RM71.4 million and 64% of previous estimate of RM55.4 million.
Revenue jumped 32% year-on-year (y-o-y) to RM314.7 million on higher construction (+42% y-o-y) and property development (+70% y-o-y) revenue.
Profit before tax (PBT) increased 36% y-o-y to RM48.7 million in 1HFY18, mainly driven by higher construction PBT (+66% y-o-y) and interest income while its property division incurred a small loss.
Net profit was up 52% y-o-y with lower effective tax rate. Excluding the one-off land sale gains in 1HFY17, core net profit jumped 249% y-o-y to RM35.3 million.
Gabungan AQRS’ high remaining order book of RM2.5 billion comprising the Sungai Besi-Ulu
Kelang Elevated Expressway, Kota Sultan Ahmad Shah and light rail transit (LRT) Line 3 projects will sustain construction earnings growth. Gabungan AQRS targets to secure another RM1.5 billion worth of new contracts. Poor sales for The Peak development continues to drag down property earnings.
Unbilled sales of RM128 million and unsold property units valued at RM486 million will contribute to property earnings in FY19 to FY22.
Gabungan AQRS also plans to launch its E’Island Residence affordably-priced apartments (1,104 units) with total gross development value of RM491 million in 2H18.
We upgrade earnings per share (EPS) by 7% to 14% in FY18 to FY20 to reflect better construction PBT margins. Construction PBT margin was high at 16.7% in 1H18 as its projects move to more advance stage of construction.
Assuming a higher sustainable construction earnings of RM70 million (RM60 million previously), we lift our fully-diluted revalued net asset value per share estimate to RM2.30. We reiterate our “buy” call on Gabungan AQRS with TP raised to RM1.60 from RM1.48, based on the same 30% discount on the lifted RNAV per share. Key risk is slower order book replenishment and execution.
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2018-07-16 16:16 | Report Abuse
EPF SUDAH MAKAN BEBERAPA HARI DAH
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2018-07-16 15:44 | Report Abuse
Gabungan AQRS: Minimal impact from revised LRT3 project. Although Gabungan AQRS will be affected by a “scaled down” version of the Light Rail Transit 3 (LRT3), the impact on the company’s overall order book will likely be minimal. According to its vice-president for strategic planning & investment, Ridhwan Effendy, the mid-cap construction and property development company will likely see a reduction of only RM100m in its orderbook, following the cancellation of the Temasya station, which is one of the five aborted under the revised version of the LRT3 project. (StarBiz)
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2018-05-31 10:58 | Report Abuse
MNRB Holdings Bhd reported a 15.62% rise in net profit in the fourth quarter ended March 31, 2018 (4QFY18) to RM29.41 million, from RM25.43 million a year ago, boosted by its business rationalisation exercise, termination of unprofitable ventures, lower management expenses and higher fee income.
In addition, the higher profit was also supported by net gains from the capital reduction exercise in Sinar Seroja Bhd, MNRB said in a filing with Bursa Malaysia today.
Quarterly revenue, however, was 10.76% lower at RM636.71 million compared with RM713.49 million a year ago, on lower contributions from its re-insurance business via Malaysian Reinsurance Bhd (Malaysian Re) and Islamic insurance unit, Takaful Ikhlas Bhd.
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2018-05-29 22:03 | Report Abuse
BY JULY TP RM2 ......easily
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2018-05-28 14:49 | Report Abuse
MBSB 1Q net profit triples to RM316.79m on allowance writeback for impaired loans
KUALA LUMPUR (May 28): Malaysia Building Society Bhd’s (MBSB) net profit more than tripled to RMRM316.79 million or 5.33 sen per share for its first quarter ended March 31, 2018 (1QFY18), from RM101.32 million or 1.75 sen per share, due to allowance write back for impaired loans.
In 1QFY18, MBSB reported an allowance write back for impaired loans of RM154.4 million, compared with an allowance charge for impaired loans of RM167.92 million.
Its quarterly revenue was marginally higher by 0.47% to RM815.04 million, compared with RM101.32 million, the group said in a filing with Bursa Malaysia today.
Meanwhile, MBSB’s gross income from corporate loans and financing in the current period was higher compared to the previous year's corresponding period, due to continued growth of corporate loans and financing assets base.
MBSB's corporate disbursements amounted to RM1.1 billion in 1QFY18, representing 75% of the total quarter's disbursement of RM1.5 billion, the filing added.
“The expansion in corporate financing is in tandem with the Group’s commitment to achieve an optimum asset composition between retail and corporate mix of 70:30,” MBSB said in a separate statement today.
Conversely, the cost to income ratio (CIR) regressed to 26.71% from 22.62% (4Q17) and 19.72% (1Q17), MBSB noted.
“We had expected the rise in costs due to the merger exercise, as well as due to higher funding costs. Yet, it is worth highlighting that the CIR remains considerably better than the industry’s average of 49.7%,” its group president and chief executive officer Datuk Seri Ahmad Zaini Othman said.
Going forward, the group said it expects its prospects for the year to be satisfactory, barring any unforeseen circumstances.
From April 2, 2018, MBSB will continue to maintain its conventional receivables and perform conversion of these receivables into Islamic receivables over the next three years, which will be subsequently vested into MBSB Bank.
Any residual receivables that are not converted will either be redeemed by the account holders or disposed off to a third party, the group added.
“We continue to build up MBSB Bank’s capabilities, following the corporate exercise. We have realigned the Group’s business, policies and operations and continue to make investments to upgrade and enhance the information technology infrastructure and delivery channels,” Zaini said.
“As a new Islamic banking group in the industry, the group looks forward to expanding its products and services, which include trade finance, wealth management and internet and mobile banking, to cater to various segments of our customers and depositors,” Zaini added.
At noon break, shares of MBSB were up two sen or 1.72% at RM1.18, with 1.95 million shares traded, for a market capitalisation of RM7.13 billion.
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2018-05-17 11:19 | Report Abuse
myEG go to Holland liao lor..........
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Stock: [PETRONM]: PETRON MALAYSIA REFINING & MARKETING BERHAD
2018-08-30 14:59 | Report Abuse
https://www.malaysiakini.com/news/441009
Putrajaya appoints Petron as a fuel provider for gov't vehicles