https://www.cnbc.com/2018/01/16/banks-raise-oil-price-targets-on-strong-demand-and-opec-output-cuts.html

target price next RM17 PETRON

TP 1.70

tp 1.15

january target price RM3.00

NEW TP REV ASIA RM0.50

Holan liao lah....... habis...gone ....

TP 1.70

fly high sky....

VS will go high up... morning drop jz temporary as regional uncertainty due to US NORTH KOREA

http://www.theedgemarkets.com/article/vs-industry-new-high-says-alliancedbs-research

KUALA LUMPUR: Shares of REV Asia surged to a near three-month high of RM1 on Thursday after it announced a special single-tier dividend of 44 sen a share.

At midday, shares of the digital media group was up 26.5 sen to RM1, the highest since May 9, 2017. It was actively traded with 30.16 million shares done.

The FBM KLCI was up 0.11 point or 0.01%to 1,770.70. Turnover was 959.57 million shares valued at RM757.95mil. There were 263 gainers, 332 losers and 446 counters unchanged.

REV Asia's dividend of 44 sen for the financial year ending Dec 31, 2017 will go ex on Aug 14 and payable on Aug 28.

In May, Rev Asia announced plans to distribute the bulk of the cash proceeds from the sale of its 70% stake in Rev Asia Holdings Sdn Bhd to its shareholders as cash dividend three months from the completion of the disposal of the stake to Media Prima Bhd.

Rev Asia said it was selling its 15.828 million shares in Rev Asia Holdings, which is involved in digital media, to Media Prima for RM73.5mil. Of the amount, RM59mil will be distributed to shareholders.

Youth Asia Sdn Bhd is selling the other 30% stake in Rev Asia Holdings for RM31.50mil to Media Prima.










“The proposed disposal represents the disposal of the advertising and internet social media business undertaken by Rev Asia Holdings Group to Media Prima,” said Rev Asia.

Read more at http://www.thestar.com.my/business/business-news/2017/08/03/ccm-expects-substantial-savings-from-degearing/#0SBfmuF5JuDXM8va.99

KUALA LUMPUR: Shares of REV Asia surged to a near three-month high of RM1 on Thursday after it announced a special single-tier dividend of 44 sen a share.

At midday, shares of the digital media group was up 26.5 sen to RM1, the highest since May 9, 2017. It was actively traded with 30.16 million shares done.

The FBM KLCI was up 0.11 point or 0.01%to 1,770.70. Turnover was 959.57 million shares valued at RM757.95mil. There were 263 gainers, 332 losers and 446 counters unchanged.

REV Asia's dividend of 44 sen for the financial year ending Dec 31, 2017 will go ex on Aug 14 and payable on Aug 28.

In May, Rev Asia announced plans to distribute the bulk of the cash proceeds from the sale of its 70% stake in Rev Asia Holdings Sdn Bhd to its shareholders as cash dividend three months from the completion of the disposal of the stake to Media Prima Bhd.

Rev Asia said it was selling its 15.828 million shares in Rev Asia Holdings, which is involved in digital media, to Media Prima for RM73.5mil. Of the amount, RM59mil will be distributed to shareholders.

Youth Asia Sdn Bhd is selling the other 30% stake in Rev Asia Holdings for RM31.50mil to Media Prima.










“The proposed disposal represents the disposal of the advertising and internet social media business undertaken by Rev Asia Holdings Group to Media Prima,” said Rev Asia.

Read more at http://www.thestar.com.my/business/business-news/2017/08/03/ccm-expects-substantial-savings-from-degearing/#0SBfmuF5JuDXM8va.99

http://english.astroawani.com/business-news/moodys-say-mbsb-merger-credit-positive-149606

Moody's say MBSB merger is credit positive


This is because the merger would enable MBSB to gain access to cheaper source of funds and enables them to broaden their revenue stream.

KUALA LUMPUR: Moody’s Investors Service said that a merger between Asian Finance Bank (AFB) and Malaysia Building Society Berhad (MBSB) would make the latter credit positive.

This is because the merger, according to Moody’s, would enable MBSB to gain access to cheaper source of funds and enable them to broaden their revenue stream.

The two companies had been working on the proposed merger since June this year after receiving approval from Bank Negara Malaysia (BNM) to commence negotiations with their respective shareholders.

However, detailed plans on the merger has yet to be made public.


This is because the merger, according to Moody’s, would enable MBSB to gain access to cheaper source of funds and enables them to broaden their revenue stream.
MBSM was the sixth-largest financial institution in Malaysia at the end of March 2017.


The cheapest source of funds, in relative to other common methods on raising funds by banks, is through the retail current account and savings account (CASA) product. And the entry of MBSB into the CASA deposit market would further escalate competition for low cost deposits among banks that are not integrated into larger banking organizations.

This may change the landscape on the Islamic banking sector post-MBSB merger.

Moody’s said the smaller banks in Malaysia are “more reliant on costlier fixed deposits, which increases their funding costs”.

Moody’s added that the Islamic banking sector as a whole gets a larger share of deposits from corporates than conventional banking, as a result, Islamic banks have relatively low liquidity coverage ratios (LCR) than conventional.




detailed plans on the merger has yet to be made public.
Detailed plans on the merger has yet to be made public.


Another dimension to the story on Islamic banking is that new rules have set the stage for a stable funding ratio that might be challenging Islamic banks to face further tightening of liquidity management.

“Smaller Islamic banks in Malaysia have been trying to secure more retail CASA deposits” said Moody’s.

It is not clear if these banks have been successful in their efforts to do so.

The rating agency however is pessimistic if a broader Islamic banking sector consolidation will follow post the AFB-MBSB merger however.

“Favorable operating environment will allow standalone Islamic institutions to fare well on their own. This merger are driven by unique circumstances that are not shared by other (institutions)” Moody’s said.

DAGANG NEXCHANGE BHD

By TA Securities

Buy

Target price: RM0.74

Revenue from trade facilitation remained consistent in the first quarter of 2017.

However, there was significant margin expansion as Dagang Nexchange (DNeX) managed to secure higher margin permits such as motor approved permits and private jetty permits.

“We believe the introduction of new permit applications via National Single Window implies that the uCustoms system, which would have ended DNeX’s monopoly would be delayed again.

“Therefore, it is highly probable that DNeX will maintain its monopoly after September 2018,” said TA Securities.

Vehicle Entry Permit and Road Charges (VEP-RC) margins also improved as the opex portion has higher margins compared to the capex portion.

Besides that, DNeX expects an additional RM8.5mil to be billed by end 2017 for the final capex portion payment.

DNeX is still in talks with the government regarding the Thai border VEP-RC.

Thus, this is unlikely to materialise in FY17.

Contributions from the eWork permit system, which is the rehiring of foreign workers will only commence in the second quarter of 2017. The group has processed about 16,000 foreign workers since February, which is within expectations.

In the energy division, DNeX secured two mini-bids worth RM7mil from Petronas Carigali which will be recognised in the second quarter of 2017.

Going forward, TA Securities expects the group to secure more mini-bids as it is the sole local player competing under the umbrella contract.

DNeX’s near-term goal is to expand into the downstream segment, which would further expand margins and increase the number of contracts available.

Recall that associate contribution in 1Q17 was rather subdued at RM4.5mil.

This was due to 33% lower production quarter-on-quarter at the Anasuria field, arising from well intervention works during the quarter.

Works have since been completed and management expects production to normalise in subsequent quarters.

DNeX still intends to acquire a brownfield with similar characteristics to Anasuria.

The required characteristics are that it is divested by an oil major, in late cycle and able to be turned around via lower production costs and has an upside to oil reserves.

Read more at http://www.thestar.com.my/business/business-news/2017/06/20/analyst-reports/#3BdQikZ12iFL7qtc.99

KUALA LUMPUR: CIMB Equities Research has initiated coverage of Dagang NeXchange (DNeX) with an Add rating and sum-of-parts (SOP) based target price of 72 sen.

It said on Friday that in its view DNeX is a proxy for the government’s plan to roll out vehicle entry permit and road charges (VEP & RC) at Malaysian borders.

“DNeX trades at 16 times FY18F P/E, above historical five-year mean of 15 times but is still attractive, given our strong FY16-19F EPS CAGR projection of 16%.

“VEP & RC contract awards and higher crude oil prices are potential re-rating catalysts. Key downside risks are lower crude oil prices, decline in National Single Window (NSW) transaction volume post-expiry and delay in VEP & RC contract awards,” it said.

CIMB Research said DNeX is the exclusive operator of the NSW platform, which provides trade facilitation services to the Customs Department.

“We expect NSW to remain a key earnings driver, fuelled by rising transaction volume from the business-to-business (B2B) segment,” it said.

Although the government’s transaction volume is expected to drop following the expiry of the platform’s exclusivity in 4Q18F, DNeX expects to retain its B2B segment transaction volume due to increase in platform stickiness driven by new value-added services.

To recap, in 2016 and Jan 2017, DNeX was awarded two contracts worth RM149.3mil to develop, install and maintain the VEP & RC system and equipment for five years at the Malaysia-Singapore border in Johor.

“We believe DNeX stands to benefit from the government’s plan to roll out similar projects at the remaining 15 crossing points to Malaysia. We expect the Malaysia-Thailand border VEP & RC contract to begin in 2018F. Overall, we project VEP & RC services to contribute 12%-16% of the group’s FY17F-18F pretax profit,” it said.

DNeX had also embarked on a new oil and gas venture by completing the acquisition of OGPC for RM170mil in 2Q16.

The group expects stronger profit contribution from OGPC in FY17F18F, driven by a pick-up in oil and gas activities following higher average crude oil prices and potential new contracts.

DNeX was the only local service provider awarded a three-year drilling and services contract by Petronas Carigali in 2016.

In 2Q16, DNeX also invested US$10mil (RM42mil) to acquire a 30% stake in Ping Petroleum (Ping), an upstream oil and gas service provider with a 50% stake in the producing Anasuria cluster in the North Sea.

The investment amount implies low entry cost of below US$2 per barrel (historical average for comparable transactions). The group projects RM22mil-RM25mil associate profit contribution from Ping in FY17F-18F, based on US$50 per barrel crude oil price.

“We expect DNeX to record a robust FY16-19F net profit CAGR of 16%, driven by resilient earnings growth in both the IT services and energy segments.

“However, we expect the energy division to record faster growth of about 19% per annum, driven by new contracts from OGPC, DOS and Ping (vs. 13% growth for the IT division). Hence, we expect net profit contribution from energy division to grow from 52% in FY16 to 58% in FY19F,” it said.



Read more at http://www.thestar.com.my/business/business-news/2017/06/23/cimb-research-starts-coverage-of-dagang-nexchange-with-add-rating/#rCgIRHouvdl0Sqx7.99

http://www.thestar.com.my/business/business-news/2017/06/23/cimb-research-starts-coverage-of-dagang-nexchange-with-add-rating/

MBSB seeks BNM nod on AFB merger plans Posted on 20 June 2017 - 10:40am Lee Weng Khuen sunbiz@thesundaily.com Print PETALING JAYA: Malaysia Building Society Bhd (MBSB) has applied to Bank Negara Malaysia (BNM) for approval from the central bank and/or the Finance Ministry for its proposed merger with Asian Finance Bank Bhd (AFB). MBSB had in last December received nod for talks on the merger plan. “Further announcements shall be made upon receipt of the decision from BNM,” MBSB said in a filing with the stock exchange yesterday, without giving any further details of its plans. This is the furthest MBSB has managed to proceed with its merger plans after two failed proposed corporate exercises with Bank Muamalat in 2016 , and a three-way merger with CIMB Group Holdings Bhd and RHB Capital Bhd in 2015. The proposed merger will create the second largest Islamic bank in the country with total assets of around RM48 billion. MBSB aims to become an Islamic financial institution by 2020 through its merger with AFB. The full bank licence will allow MBSB to tap into new financial services segments which it cannot offer at the moment, such as trade facilities, collecting current account savings account (CASA) deposits and offering other interbank instruments to expand its business. AFB, a full-fledged Islamic bank that was incorporated in Nov 28, 2005, has a branch each in Kuala Lumpur and Johor Baru as well as a representative office in Jakarta, Indonesia according to its website. Analysts have expected that the deal would translate into a price of about RM550 million to RM600 million, based on 1.1 to 1.2 times premium of AFB’s nine-month book value of RM500.1 million for FY16. Merger talks have included negotiations with AFB’s Middle East shareholders – namely Qatar Islamic Bank (66.67%), RUSB Investment Bank Inc (16.67%), Tadhamon International Islamic Bank (10%) and Financial Assets Bahrain WLL (6.67%). The Employees Provident Fund (EPF) is the single largest shareholder of MBSB with a 65.28% stake.

http://english.astroawani.com/business-news/mbsb-aims-create-second-largest-islamic-bank-afb-146814

karex is hopeless ....... rising competition not only mainstream players.. but also black market condoms,,,,,

http://www.theedgemarkets.com/article/cimb-ib-research-downgrades-karex-cuts-target-rm170

KUALA LUMPUR (May 31): CIMB IB Research has downgraded Karex Bhd to “Reduce” at RM2.05 with a lower target price of RM1.70 (from RM2.32) and said that on the back of weaker-than-expected earnings in 3QFY6/17, Karex’s 9MFY17 core net profit was below expectations at 56% of house FY17F estimate.

In a note today, the research house said the weaker-than-expected results were mainly due to i) higher operating expenses, ii) rising competition in tender segment and iii) higher latex prices.

It said near-to-medium term outlook is weak, given: i) strong competition in tender segment, ii) higher raw materials prices and iii) higher distribution expenses.

“We lower our FY17-19F EPS to account for: i) lower-than-expected ASPs, and ii) weaker tender market volumes.

“Downgrade to Reduce from Hold; target price lowered to RM1.70 (28x CY18 P/E),” it said.

http://www.theedgemarkets.com/article/dnex-1q-profit-jumps-180-consolidating-ogpc-results

KUALA LUMPUR: Dagang NeXchange Bhd’s (DNeX) net profit jumped 180% year-on-year (y-o-y) to RM15.08 million in its first quarter ended March 31, 2017 (1QFY17) from RM5.37 million, as it benefited from a diversification into the energy busienss.

Revenue grew 63% y-o-y to RM43.83 million from RM26.89 million, its bourse filing showed.

Its information technology and e-services segment reported a profit before tax (PBT) of RM14.1 million, driven mostly by trade facilitation and new recurring income from the operations of the Vehicle Entry Permit (VEP) and Road Charge (RC) system, and contribution from the new eWork Permit system.

Its energy segment contributed PBT of RM3.8 million, with the consolidation of OGPC Group’s earnings, and the share of result of associate Ping Petroleum Ltd.

It expects to perform well income-wise going forward, in tandem with improving crude oil price outlook.

“The new recurring income from the VEP and RC system project, eWork Permits, and the opportunity under the Petronas Carigali umbrella contract, to the directional drilling unit, has opened up a new revenue stream to the group,” it added.

TOMOROW ... DNEX HIGH UP UP UP UP... congratulations for the profits.... !!!

good result.. only speculation...

good QR report

next week it will go high fly .... wait n see !

https://uniontradejournal.com/dagang-nexchange-berhad-klsednex-how-is-this-stock-valued/29294/

Dagang NeXchange Berhad (KLSE:DNEX): How is this stock valued?

Dagang NeXchange Berhad (KLSE:DNEX) currently has a Value Composite score of 48. The Value Composite One (VC1) is a method that investors use to determine a company’s value. A company with a value of 0 is thought to be an undervalued company, while a company with a value of 100 is considered an overvalued company. The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings. Similarly, the Value Composite Two (VC2) is calculated with the same ratios, but adds the Shareholder Yield. The Value Composite Two of Dagang NeXchange Berhad (KLSE:DNEX) is 62.

Technicals at a Glance
In taking a look at some other notable technicals, Dagang NeXchange Berhad (KLSE:DNEX)’s ROIC is 0.071674. The ROIC 5 year average is 0.108934 and the ROIC Quality ratio is 1.796543. ROIC is a profitability ratio that measures the return that an investment generates for those providing capital. ROIC helps show how efficient a firm is at turning capital into profits.

Shareholder Yield
We also note that Dagang NeXchange Berhad (KLSE:DNEX) has a Shareholder Yield of -1.219535 and a Shareholder Yield (Mebane Faber) of -1.21623. The first value is calculated by adding the dividend yield to the percentage of repurchased shares.

The second value adds in the net debt repaid yield to the calculation. Shareholder yield has the ability to show how much money the firm is giving back to shareholders via a few different avenues. Companies may issue new shares and buy back their own shares. This may occur at the same time. Investors may also use shareholder yield to gauge a baseline rate of return.

Dagang NeXchange Berhad (KLSE:DNEX) has a current MF Rank of 8566. Developed by hedge fund manager Joel Greenblatt, the intention of the formula is to spot high quality companies that are trading at an attractive price. The formula uses ROIC and earnings yield ratios to find quality, undervalued stocks. In general, companies with the lowest combined rank may be the higher quality picks.

We can now take aquick look at some historical stock price index data. Dagang NeXchange Berhad (KLSE:DNEX) presently has a 10 month price index of 2.80000. The price index is calculated by dividing the current share price by the share price ten months ago. A ratio over one indicates an increase in share price over the period.

A ratio lower than one shows that the price has decreased over that time period. Looking at some alternate time periods, the 12 month price index is 2.90909, the 24 month is 2.16949, and the 36 month is 2.09836. Narrowing in a bit closer, the 5 month price index is 2.57143, the 3 month is 2.15517, and the 1 month is currently 1.31579.

DNEX TARGET 0.65

Dagang NeXchange Berhad (KLSE:DNEX) currently has a Value Composite score of 48. The Value Composite One (VC1) is a method that investors use to determine a company’s value. A company with a value of 0 is thought to be an undervalued company, while a company with a value of 100 is considered an overvalued company. The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings. Similarly, the Value Composite Two (VC2) is calculated with the same ratios, but adds the Shareholder Yield. The Value Composite Two of Dagang NeXchange Berhad (KLSE:DNEX) is 62.

Technicals at a Glance
In taking a look at some other notable technicals, Dagang NeXchange Berhad (KLSE:DNEX)’s ROIC is 0.071674. The ROIC 5 year average is 0.108934 and the ROIC Quality ratio is 1.796543. ROIC is a profitability ratio that measures the return that an investment generates for those providing capital. ROIC helps show how efficient a firm is at turning capital into profits.

Shareholder Yield
We also note that Dagang NeXchange Berhad (KLSE:DNEX) has a Shareholder Yield of -1.219535 and a Shareholder Yield (Mebane Faber) of -1.21623. The first value is calculated by adding the dividend yield to the percentage of repurchased shares.

The second value adds in the net debt repaid yield to the calculation. Shareholder yield has the ability to show how much money the firm is giving back to shareholders via a few different avenues. Companies may issue new shares and buy back their own shares. This may occur at the same time. Investors may also use shareholder yield to gauge a baseline rate of return.

Dagang NeXchange Berhad (KLSE:DNEX) has a current MF Rank of 8566. Developed by hedge fund manager Joel Greenblatt, the intention of the formula is to spot high quality companies that are trading at an attractive price. The formula uses ROIC and earnings yield ratios to find quality, undervalued stocks. In general, companies with the lowest combined rank may be the higher quality picks.

We can now take aquick look at some historical stock price index data. Dagang NeXchange Berhad (KLSE:DNEX) presently has a 10 month price index of 2.80000. The price index is calculated by dividing the current share price by the share price ten months ago. A ratio over one indicates an increase in share price over the period.

A ratio lower than one shows that the price has decreased over that time period. Looking at some alternate time periods, the 12 month price index is 2.90909, the 24 month is 2.16949, and the 36 month is 2.09836. Narrowing in a bit closer, the 5 month price index is 2.57143, the 3 month is 2.15517, and the 1 month is currently 1.31579.

http://ozarktimes.com/dagang-nexchange-berhad-klsednex-how-is-this-stock-valued/23635/

http://www.theedgemarkets.com/article/mbsb-active-gains-231-positive-views-asian-finance-bank



KUALA LUMPUR (May 15): Shares in Malaysia Building Society Bhd (MBSB) rose 2.31% in active trade this morning after its president Datuk Seri Ahmad Zaini Othman last week said the proposed acquisition of Asian Finance Bank Bhd (AFB) by MBSB is "looking good".

At 10.32am, MBSB rose 3 sen to RM1.33 with 13.55 million shares traded.

Ahmad Zaini said the merger is likely to happen this time around.

"So far, we are talking. Nobody is backing out. From the discussion, it looks like they are still interested," he told reporters after MBSB's annual general meeting.

MBSB has completed due diligence on the proposed merger, he added. Bank Negara Malaysia has given until June 21 for the two parties to complete the negotiations.

http://www.thestar.com.my/business/business-news/2017/05/15/mbsbafb-merger-on-track-valuation-being-negotiated/



KUALA LUMPUR: The merger and acquisition talks between Malaysia Building Society Bhd (MBSB) and Asian Finance Bank Bhd (AFB) are on track with the only concern being valuation.

MBSB president and chief executive officer Datuk Ahmad Zaini Othman (pic) said the non-bank lender was in the midst of formulating reports and negotiating the valuations for the merger.

“We have completed the business plan as well and what’s pending is the sales and purchase agreement, which will include valuation (pricing),” Ahmad said on the sidelines of a shareholders’ meeting last Friday. Ahmad is more confident of seeing the merger through this time because it is with a smaller financial institution.

“I am not going to give up. I believe it shouldn’t be difficult this time around because it’s with a smaller bank.
“We do care about the company and this is a good opportunity for us,” said Ahmad, adding that once the merger was completed the new bank would be worth about RM45bil in asset size. AFB’s asset size stood at over RM2bil.

On whether there were any resistence from shareholders, Ahmad said that in general they (shareholders) were supportive as MBSB had explained that the route towards a merger was a better and most logical choice.

However, an EGM will be held for shareholders’ approval. In the meantime, Bank Negara has given June 22 as the deadline to conclude the transaction.

Meanwhile, Ahmad expects MBSB’s impairment programme to be concluded by year-end.

“This is on track as we remain focus in the programme to strengthen the company towards achieving its future direction.

“It’s also a way for us to conform within the industry’s standards as we look to move into banking status,” Ahmad noted.

He said the company has plans in place for the implementation of the International Financing Reporting Standard (IFRS) 9

“We would take advantage of the resources.

“For the last two and half years we have already been burdened by huge impairments and the bulk of it are from operating profit. We are used to hard times,” Ahmad said.

IFRS 9, which will set new accouting standards for banks, will take effect next year.

The non-bank lender’s RM777mil impairment was 70% of RM1.12bil in operating profit.

In terms of retail and corporate financing, MBSB is optimistic of achieving a 30:70 ratio this year, versus 20:80 last year.

“Over the last two years, our transition towards the corporate segment mainly in property financing and equipment financing in the small and medium enterprises segment are seeing results.

“We will be targeting aggressive growth in 2017,” he noted.

MBSB has also set a target of 6% to 7% overall loan growth this year, versus the 3% to 4% of last year.

Ahmad said this could be achieved by revisiting existing corporate clients who were submitting their second proposals.

MBSB’s total assets stood at RM43.27bil as at Dec 31, 2016 from RM41.09bil a year ago.

The growth was attributed to increase in net financing and loans as well as liquefiable assets.

It told research houses in February that its target for 2017 will be to disburse additional financing totalling RM3.46bil, which includes loans for affordable housing projects.

Read more at http://www.thestar.com.my/business/business-news/2017/05/15/mbsbafb-merger-on-track-valuation-being-negotiated/#0lkPOLskHuCjMiwV.99

MBSB-AFB merger on track, valuation being negotiated: The merger and acquisition talks between Malaysia Building Society Bhd (MBSB) and Asian Finance Bank Bhd (AFB) are on track with the only concern being valuation. MBSB president and CEO Datuk Ahmad Zaini Othman said the non-bank lender was in the midst of formulating reports and negotiating the valuations for the merger. - StarBiz

Read more at http://www.thestar.com.my/business/business-news/2017/05/15/breakfast-briefing-may-15/#31sX3zBRsMB8hEeu.99

https://www.homme-osc.net/

BUKTI MEGAH SDN BHD... under dnex

target dnex RM1.00 .... next few level... holding it

if 1person register DNEX gets RM30... so many ,, defienetly big earn...

In February, it was reported DNeX's “eWork Permit” involved the building of a new back-end system for Bukit Megah Sdn Bhd for the latter's rehiring programme.

DneX would be paid RM30 per transaction of “eWork Permit”, which is the name of the new back-end system to be set up for Bukit Megah’s rehiring operations.

CIMB Research had said in mid-Feb 2016, the government appointed three parties for the rehiring programme. Bukit Megah was picked for the registration of Myanmar illegal foreign workers (IFWs), IMAN for Indonesian IFWs and MyEG for other races.

Bukit Megah and IMAN used its back-end system to register the IFWs. MyEG dominated by handling 95% of the total IFWs registration as only 5% IFWs registered were from Myanmar and Indonesia,” it said.

However, from Feb 15, 2017 onwards, all three parties could now register IFWs of all races.
Read more at http://www.thestar.com.my/business/business-news/2017/04/10/dnex-sees-7pt46pct-stake-traded-off-market/#Av6oYDfrAXISm7eK.99

http://www.thestar.com.my/business/business-news/2017/05/03/wahid-malaysia-lacks-listed-islamic-financial-stocks/


KUALA LUMPUR: The listing of more Islamic financial institutions on Bursa Malaysia is needed to boost the Islamic fund and wealth management industry going forward.

Permodalan Nasional Bhd (PNB) group chairman Tan Sri Abdul Wahid Omar said this would also strengthen Malaysia’s position as a global hub for such funds.

He said of the 672 syariah-compliant securities listed on the local bourse, omly two were from the finance sector, namely BIMB Hodings Bhd and Syarikat Takaful Malaysia Bhd.

“The finance sector has thus the lowest number of syariah-compliant listed securities available.It also places the percentage of syariah- compliant securities under the sector at only 6%,” he told the International Islamic Fund and Wealth Management Forum here yesterday.

He said the shortage of listed Islamic finance institutions could pose big challenges to the industry, especially for the government linked investment companies (GLICs) such as PNB, Lembaga Tabung Haji, and Kumpulan Simpanan Pekerja, as they are expected to provide syariah compliant dividends to Muslim investors in Malaysia.

As such, it is impossible to provide a competitive return if GLICs have to avoid investing in the financial sector, since there are only 6% of syariah-compliant securities listed on Bursa Malaysia, he added.

He also suggested three possible ways to further grow the industry.

The first is the formation of a second listed Islamic universal banking group, apart from BIMB Holdings, which could be anchored by Malaysia Building Society Bhd (MBSB), Bank Muamalat Malaysia Bhd, Malaysia Industrial Development Finance Bhd (MIDF) or one of the larger foreign-owned Islamic banks.

The listing of some of Islamic Development Finance Institutions such as Bank Simpanan Nasional and Bank Rakyat is a second option.

The third approach is the creation of a separate listing of “Islamic” or “i-share” among banking groups that have sizeable Islamic finance activities embedded within them, such as Maybank, CIMB and RHB.

“For example, up to 25% of Maybank”s profit is derived from Islamic finance.

“Since Maybank Islamic is a wholly-owned subsidiary and an integral part of Maybank, we can designate say 20% of the latter”s shares as Islamic shares, via some ring fencing arrangements,” he explained.

He said based on Maybank’s market capitalisation of RM97bil, this initiative would create a new class of syariah compliant investment instruments worth RM19bil.

“Of course this will require a lot of consultations with the Securities Commission, Bank Negara and Bursa Malaysia.

“With positive thinking in trying to solve a problem, I believe we can come up with the right solutions,” he later said at a press conference. – Bernama

Read more at http://www.thestar.com.my/business/business-news/2017/05/03/wahid-malaysia-lacks-listed-islamic-financial-stocks/#AYIl5t2rkiczWV4e.99

TARGET NOW RM0.80

http://www.thestar.com.my/business/business-news/2017/05/03/dnex-to-bank-on-power-business/



PETALING JAYA: Dagang NeXchange Bhd (DNeX) is projecting a double-digit growth for both its top line and earnings this year in line with its expansion and diversification into the power business.

The Main Market-listed e-commerce services provider plans to penetrate the Indonesian power-generation business, particularly by participating in small-scale renewable energy projects related to mini-hydroelectricity, geo-thermal and solar power.

DNeX group managing director Zainal Abidin Jalil (pic) said that while Malaysia remained the company’s primary market, further expansion into other viable markets would continue. He added that revenue contribution from the company’s foreign involvements was still small.

“We are confident that we would be able to deliver double-digit growth on a year-on-year comparison, for both our revenue and net profit in financial year 2017 (FY17).

“Moving forward, we are planning to make inroads into the Indonesian power-generation market, given Indonesia’s high demand for electricity and better electricity tariffs. Despite our aim for further regional diversification, we will continue to strengthen both our core business segments, namely, energy and information technology (IT) and e-services,“ he told reporters after DNeX’s AGM here yesterday.

Apart from Malaysia, DNeX has marked its footprint in Bangladesh and the United Kingdom.

In the financial year ended Dec 31, 2016, the e-commerce services provider registered a commendable set of results, which saw its net profit surging eight-fold to RM132.2mil compared with RM15.8mil a year earlier. The significant growth in earnings was on the back of a strong revenue growth, which nearly doubled to RM178.5mil.

Zainal also said that the company aimed to increase its portfolio exposure in its relatively-new core business, the energy sector in the long run.

“As of last year, 85% of our total revenue was contributed by our strong traditional IT and e-services business, while the rest was contributed by our energy segment. We hope to see both the IT and services and energy segments contribute 50% each to our overall top line in the future.

“We are pleased with what we have achieved so far, especially having completed our strategic transformation into a two-core business, namely, energy as well as IT and e-services,” he said.

DNeX’s strategic transformation was initiated in 2014. Under the transformation, the company expanded its traditional IT and e-services business through projects such as the vehicle entry permit, road charges system project and the eWork permit system.

DNeX also penetrated into the energy business, following the acquisition of OGPC Group in 2014 and its stake in Ping Petroleum Ltd.

Read more at http://www.thestar.com.my/business/business-news/2017/05/03/dnex-to-bank-on-power-business/#DrkX5dk5GCuwoLio.99

HOLD IT TILL ,,, RM 1.00

DNEX ,,, NEXT ,, RM 0.70 , second phase RM 0.75 , Third phase RM 0.80 .... then.. so on target RM1.00

time being , target Dnex RM 0.70- 0.80 , next , RM 0.90 - 1.00

AAX , target 0.46 - 0.47

EITA , target 2.20 for sure ! wait n see !

REV , TARGET RM1.50

KUALA LUMPUR, April 10 — PublicInvest Research expects AirAsia X Bhd’s performance to be positive from the financial year 2017 onwards, due to better cost management. In a note today, the research firm said AirAsia X hopes to increase its average seat kilometers (ASK) through better aircraft utilisation and higher frequencies of current routes, by strengthening key markets like China and Australia. The long-haul budget airline’s ASK is also expected to improve through the introduction of new routes, such as Honolulu via Osaka, scheduled to be launched in June this year. “Meanwhile, it is expecting the next aircraft, the first two A330neos, to be delivered around end-2018. “Going forward, AirAsia X plans to gradually replace its aircraft with this latest variant, as it can save up to 14 per cent of fuel per seat and improve cost efficiency,” it said. PublicInvest Research upgraded its rating on AirAsia X to “outperform”, at a higher target price of 53 sen from 41.5 sen. As of 11.24 am, AirAsia X’s shares were half-a-sen lower at 39.5 sen, with 4.1 million traded. — Bernama - See more at: http://www.themalaymailonline.com/money/article/publicinvest-research-expects-positive-performance-by-airasia-x-from-fy17-o#sthash.guf2wuee.dpuf

http://www.nst.com.my/news/2017/04/228958/airasia-x-earnings-recovery-trajectory

KUALA LUMPUR: PublicInvest Research has issued an outperform call on AirAsia X Bhd (AAX) with a target price of 53 sen as FY2017 is seen as a good year for the low-cost, long haul airline.


"We believe the positive performance will flow through from FY17 onwards as a result of better cost efficiencies through improvement in aircraft utilisation and increase in route frequencies; improved performance from associates; less impact from fuel price volatility; and lower net gearing," explained PublicInvest Research.


The research house, however, noted that in terms of capacity expansion, the AAX fleet will remain unchanged as there is no new aircraft delivery expected this year.


As a result, AAX will be in a net cash position in FY18, but this is likely to reverse into net debt again once aircraft deliveries are back on track from FY19 onwards, PublicInvest Research said.


On a positive note, AAX is expected to increase its average seat km (ASK) through better aircraft utilisation and increase its frequencies of current routes by strengthening operations in key markets like China and Australia.


The firm is also positive on AAX's new Honolulu route, through Osaka, which is expected to be launched in June this year.


Additionally, on AAX's Indonesian unit IAAX services, which have been temporarily suspended since September 2016, PublicInvest Research made note of its two aircraft being temporarily wet-leased to Malaysia AirAsia (MAA).


"We understand that it has already submitted plans to resume its operations, probably by early 2H2017 and currently waiting for approval of new routes; with its route strategy to be towards North Asian and Indian market," said the firm.

AIR ASIA TARGET RM4.00 ......

AirAsia sets up low-cost carrier JV in Vietnam

KUALA LUMPUR: AirAsia Bhd is expanding its operations in Southeast Asia, with the proposed low-cost carrier (LCC) joint venture with Gumin Company Ltd and Hai Au Aviation Joint Stock Company.

AirAsia said on Friday its unit AirAsia Investment Ltd (AAIL) had signed a shareholders agreement and a share subscription agreement with Gumin, Tran Trong Kien and Hai Au Aviation to establish a LCC in Vietnam.

HAA, which is operating a general aviation business in Vietnam, will form the vehicle for the JV.

Currently, HAA has a paid-up charter capital of one billion Vietnam dong (RM19.4mil) and undertakes to increase its charter capital to one trillion dong (RM194mil) for the JV.

It said AAIL will hold a 30% stake or 30 million shares; Gumin 69.9% (69.99 million shares) and Tran one share.

AAIL and the JV company also signed a new shareholder loan agreement. Under the deal, AAIL will provide a loan of US$2mil (RM8.84mil). Separately, Gumin will provide a US$4mil to the JV Co.

“The rationale for the JV is to be an airline in Vietnam which offers an affordable but high-quality airline service to Vietnamese and foreign tourists by leveraging the best-in-class LCC business model which is expected to give the Vietnamese population a greater choice as well as spur overall economic growth.

“Improving connectivity in Vietnam would further support an uptick in GDP, providing a boost in multiple industries namely tourism, export related industries, logistics, airport retailers and airline support industries.

“An increase in connectivity will also stimulate demand for air travel amongst the population, opening doors to studies abroad, work related travel and sprouting of new small and medium industries,” it said.

AirAsia said the JV will require a capitalisation of one trillion dong of which, AirAsia will contribute 30% (300bil dong/RM58.2mil) of the aforesaid capital, with further support provided, at the discretion of the Board of AirAsia by loans, advances or other securities it sees fit.

“This commitment further cements AirAsia’s belief that this is a key strategic Joint Venture in the region.

AirAsia will raise internal funding for its portion of the equity,” it said.

Read more at http://www.thestar.com.my/business/business-news/2017/03/31/airasia-sets-up-low-cost-carrier-jv-in-vietnam/#G8oGgbVJ0mGyJcr8.99