Eco World International Bhd president and chief executive officer Datuk Teow Leong Seng.

PETALING JAYA: Eco World International Bhd (EWI) achieved RM433mil sales exchanges plus reserves of RM85mil, adding up to a total of RM518mil in the seven months period of its financial year ending Oct 31, 2024 (FY24).

In a statement, the property developer said it recorded a loss before tax of RM13.9mil in the second quarter of its current financial year (2Q24) compared to loss before tax of RM2.1mil in 2Q23.

It said this was mainly due to lower gross profit as stocks in its Australian projects are largely fully sold; impairment loss on amount owing by EcoWorld London as the joint venture continues to invest resources to procure better planning consents for its remaining projects; as well as lower foreign exchange gains from appreciation of the British Pound against the ringgit.

Including net cash balances at joint ventures, EWI said the group has a total cash balance of RM349mil as at April 30, 2024.

Premised on the healthy cash position, the board declared a first interim dividend of six sen per share for FY24, which translates to RM144mil.

President and CEO Datuk Teow Leong Seng said the group's sales are on track with the value of unsold completed stocks reduced to about RM400mil, of which its effective share is about RM300mil.

He added that the board is maintaining its target of generating excess cash of up to RM500mil - which will be distributed to shareholders in tranches over 2024 and 2025 - by selling its completed stocks.

"We are monitoring market conditions closely and finding ways to improve the profitability of our remaining projects.

"While the current environment is challenging, the UK real estate market nonetheless presents opportunities in the longer term, judging from the strong rental rates in London."

Teow said the group will proceed with launches when cost pressures stabilise and the expected returns of undertaking such launches can be forecast with greater certainty.

KUALA LUMPUR (June 6): The Italian government has again rejected the proposed disposal by KNM Bhd’s (KL:KNM) wholly-owned subsidiary KNM Europa BV of its entire stake in FBM Hudson Italiana SpA (FBM Hudson).

The transaction had again failed to obtain the Golden Power clearance from the Italian government, KNM said in a filing with Bursa Malaysia on Thursday.

According to the International Association of Defense Counsel, the Italian government's Golden Power refers to its special power to stop any foreign direct investment, or halt corporate transactions involving strategic assets that include defence, national security, and infrastructure such as transportation, energy and communications.

FBM Hudson is primarily involved in the design and manufacture of heat exchangers and high-pressure equipment for oil and gas, oil refining, petrochemicals, chemicals, power and fertiliser businesses.

“Presently, the management of KNM is reviewing and discussing with all the parties concerned for the steps moving forward. Further development in relation to the proposed disposal will be announced in due course,” KNM said.

The Italian government had previously rejected the proposed disposal of FBM Hudson last November when KNM had proposed to sell the company to the United Arab Emirates' Petro MAT FZCO for 22 million euros.

Petro MAT had also failed to obtain the same Golden Power clearance from the Italian government.

This time, KNM Europa was to dispose of the company to Milan-based BM Carpenterie Oil & Gas SRL, which offered to acquire 60% of the stake in FBM Hudson for 9.9 million euros, and Verona-based Officine Piccoli SpA, which sought to acquire the remaining 40% stake for 6.6 million euros. The total offer came up to 16.5 million euros (approximately RM84.99 million).

Under the agreement signed in March, both buyers were to take over the 11.5 million euro loans that FBM Hudson owes to KNM as settlement for sale consideration.

Although the proposed disposal is expected to result in an estimated loss of about RM94.34 million, the cash-strapped engineering group has been looking to exit the loss-making company and that the expected proceeds to be received from the proposed disposal has been planned for repaying of borrowings and working capital purposes.

Prior to Petro MAT, KNM had another deal to dispose of FBM Hudson to British Midland FZE for 12 million euros, which did not materialise. At the time, KNM did not disclose the reason behind the change in buyer.

KNM’s share price closed slightly higher by 0.5 sen or 5.56% at 9.5 sen on Thursday, valuing the group at RM365.14 million. Over the past one year, the counter has risen by 18.75%.

Read also:

KNM signs agreement to sell Italian unit for 16.5 mil euros, of which 11.5 mil to be settled in annual instalments over 10 years

KNM receives new offer to acquire Italian unit for 16.5 mil euros

Italian govt rejects KNM’s proposed disposal of entire stake in FBM Hudson

KNM gets new buyer for FBM Hudson Italiana at higher price of €22m

KNM unit proposes sale of FBM Hudson Italiana to British Midland

百乐园 Paramount Corporation
（取自百乐园官网）

（吉隆坡10日讯）百乐园（PARAMON，1724，主板产业股）宣布，以超过1.7亿令吉的价格，一口气收购绿盛世国际（EWINT，5283，主板产业股）21.54%股权，借此加快海外扩张计划。

百乐园周五发文告指出，子公司Flexsis私人有限公司，以每股33仙，或合计1.706亿令吉，从GLL EWI（香港）有限公司手中，收购绿盛世国际的5.17亿股。

百乐园总执行长周胜忠在文告里指出，此次收购，为公司提供一个及时且具有战略意义的机会，通过这家专注于海外产业开发的公司，加速拓展百乐园在的海外业务。

文告指出，绿盛世国际通过联营企业和子公司，在伦敦、悉尼和墨尔本开发项目，截至2月杪，剩余的发展总值为86亿令吉。

周胜忠表示，伦敦及其周边地区的住房需求，仍是目前和长期的机会来源。

“自2021年疫情爆发后，由于住房供应紧张，租金一直很高且持续上涨。近几个月来，抵押贷款批准率一直上升，根据皇家特许测量师学会（RCIS）的调查预计，未来12个月，英国各地的房价将上涨。”

他说，百乐园自2018年剥离教育业务以来，根据2020至2025年的战略计划，一直在寻找机会参与新的业务，以多元化盈利基础。

他披露，公司期间投资了数字领域的各种初创企业，并通过联营企业扩展到曼谷的产业开发领域。

百乐园在2020年，与一家泰国精品开发商，通过债务和股权形式，合作开发位于曼谷的29楼永久产权公寓Na Reva Charoennakhon，在近期已完工。

展望未来，周胜忠期盼双方可以通过利用彼此的经验和专业知识，合作创造新的协同效应。

另外，绿盛世国际主席谢德光欢迎百乐园的加入，并感谢国浩集团自公司上市以来的投资和贡献。

回顾历史，国浩集团在2016年宣布入股绿盛世国际，并在绿盛世国际挂牌后，认购27%股权，迄今，这批股权是由GLL EWI（香港）持有。

根据绿盛世国际2023年报，Eco World 资本（国际）与GLL EWI（香港），分别均持有27%股权。

在上述交易后，百乐园将以持股21.54%，成为绿盛世国际的第二大股东，而GLL EWI（香港）的持股率则会降至5.46%。

绿盛世国际周五闭市，收在36仙，涨0.5仙或1.4%，成交量为84万1000令吉。

KUALA LUMPUR (Jan 30): Phillip Capital has ascribed an 18 times price-earnings multiple on earnings per share estimated for the financial year ending Dec 31, 2024 (FY2024) for HE Group Bhd, and derived a fair value of 52 sen for the stock.

In a note on Tuesday, the research house said HE Group stands to benefit from the rise in foreign direct investment in sectors such as semiconductors, electrical and electronics, data centres, and medical.

The research house does not have a rating for the ACE Market-bound stock.

“We project a three-year earnings compound annual growth rate of 46% over FY2021 to FY2024, driven by its RM212 million order book.

“Our valuation multiple is at about 10% discount to its closest comparable peers listed on Bursa Malaysia, such as MN Holdings Bhd, Critical Holdings Bhd, and Kelington Group Bhd.

“Key risks include a delay in the end-user expansion plan affecting order book replenishment, unforeseen project delivery delays, and higher raw material prices (for copper and aluminium),” the research firm said.

Phillip Capital said HE Group had an outstanding order book value of RM212 million as of December 2023, with about 90% to be recognised in FY2024, potentially doubling the group’s profit for the year.

“We gather that the group is currently tendering for about RM400 million of jobs, which will likely be finalised in the first half of FY2024.

“The management guided that the majority of the tenders (about 80%) are for semiconductor projects, with the remaining 20% are related to data centre projects. Historically, the tender success rate is 15% to 20%,” the research house said.

Read also:
Rakuten Trade expects HE Group to post core net earnings of RM14.6m for FY2024
HE Group gains 54% on ACE Market Debut
ACE Market-bound HE Group sets IPO price at 28 sen apiece, to raise RM24m
ACE Market-bound HE Group inks IPO underwriting pact with Alliance Islamic Bank

（吉隆坡20日讯）得益于外汇收益与财务成本降低，绿盛世国际（EWINT，5283，主要板房产）截至1月底2024财年首季转亏为盈，净赚182万令吉，对比上财年同期净亏3082万令吉；这也是该公司在连续亏损9个季度后，成功恢复获利。

绿盛世国际向大马交易所报备，首季营业额按年上涨41.6%至3167万令吉。


绿盛世国际截至1月底2024财年首季转亏为盈。
该公司指出，伦敦Eco World-Ballymore的还款与英镑转换，让公司享有外汇获利。此外，所有借款在2023年全部结清，也让公司财务成本降低。

绿盛世国际在2023财年首4个月销售额达2亿4300万令吉，加上2亿300万令吉的储备金，总额达4亿4600万令吉。

“其中最大贡献的项目为Embassy Gardens与London City Island，分别贡献了5亿4900万令吉和3亿400万令吉。”

（吉隆坡6日讯）绿盛世国际（EWINT，5283，主板产业股）建议，将公司股本再度削资5亿令吉，以在2024及2025财政年（10月底结账）派发最多5亿400万令吉的股息。

以绿盛世国际目前总共24亿1780股的总股票数量来计算，该公司相当于计划在2024及2025财年，总共派发最多每股21仙的股息。

绿盛世国际今天通过文告称，再度削资的目的之一，是为了帮助公司达到接下来2年的派息目标。

在扣除营运资金和融资需求，以及达到销售目标的情况下，绿盛世国际计划在2024及2025财年，最多派发5亿400万令吉股息予股东。

同时，绿盛世国际称，通过进一步削资，该公司也将获得额外空间，可能派发比原定目标更多的股息。

在新一轮的削资完成后，绿盛世国际打算在现财年，先派发总共1亿4400万令吉，相当于每股6仙的第一轮股息。

该公司将在来届股东大会，寻求股东批准削资议案，而削资预计将在今年上半年完成。

绿盛世国际总裁兼总执行长拿督张良成在文告中称，该公司在短期内并没有任何推出新项目或收购的计划，因此，所需营运资金预计比往年少，而考虑种种因素后，公司决定继续通过股权来创造现金。

对股东最有利

“董事部相信，向股东回退额外创造的现金，是对所有股东最有利的方案。”

他补充，英镑对令吉强势升值，让该公司得以在转换汇率时，获得以令吉结算的更高收入，同时该公司的负债率目前接近零，旗下只有一家联营公司背负一项银行贷款。

在这之前，绿盛世国际在2023财年已经削资了15亿令吉，并派发了7亿9200万令吉或每股33仙的中期股息，以及1亿4400万令吉或每股6仙的终期股息。

闭市时，绿盛世国际报31.5仙，无起落，成交量144万1400股。

视频推荐 ：

Eco World International Bhd

Although Eco World International Bhd (EWI) is loss-making, the property developer, which has a presence in the UK and Australia, is set to continue paying out dividends for the current financial year ending Oct 31, 2024 (FY2024).

According to Maybank Investment Bank Research, EWI is likely to pay another RM600 million, or 25 sen per share, as dividends in FY2024. For FY2023, the property developer has paid out RM792 million and will be paying out RM144 million on Jan 17, 2024, bringing total dividends for the financial year to RM936 million, or 39 sen per share.

Maybank IB Research’s forecast dividend per share of 25 sen translates into a yield of 81.9%, based on EWI’s share price of 30.5 sen last Friday.

EWI has been in the red since FY2022, reporting losses after tax (LAT) of RM234.42 million, on account of the challenging operating environment as central banks around the world embarked on monetary tightening and higher costs as a result of the Russia-Ukraine war, tight labour market and supply chain disruptions. Because of these factors, cost revisions were required on several ongoing projects, which reduced gross margins.

For FY2023, its LAT narrowed to RM85.37 million.

Nevertheless, the group strengthened its balance sheet on the back of stronger sales, turning net cash in FY2022. Its net cash position improved to RM295.24 million as at Oct 31, 2023, from RM172.53 million a year ago.

In its latest quarterly financial statements, EWI said it aimed to sell completed or nearly completed houses worth RM850 million as at Oct 31, 2023, in FY2024, and distribute the excess cash generated (net of working capital requirements) back to shareholders. It added that launches for its “remaining sites continue to be put on hold”, pending feasibility reviews, given the weak sentiment among homebuyers and significant cost inflation.

Maybank IB Research, the only brokerage covering EWI, expects the group to remain loss-making until it decides to launch new projects. It has a “hold” call on EWI, with a target price of 26 sen.

KUALA LUMPUR (Dec 13): Eco World International Bhd's (EWI) net loss narrowed to RM37.69 million for the fourth quarter ended Oct 31, 2023 (4QFY2023), from RM95.73 million in the previous year’s corresponding period.

The improvement is thanks to a foreign exchange (forex) gain of RM15.53 million in the quarter under review, compared to a forex loss of RM5.33 million in 4QFY2022 due to the appreciation of the British pound against the ringgit as a result of the repayment of advances by its UK joint venture (JV) EcoWorld-Ballymore and the conversion of British pound-denominated bank balances.

There was also a reversal of impairment on investment in EcoWorld-Ballymore of RM64.67 million following significant progress in monetisation of inventories during the year — although this was offset by impairment losses on the amount owing by Eco World London of RM90.96 million — as well as lower finance costs as a result of full settlement of all borrowings in the previous quarter, said EWI in a bourse filing.

Revenue for 4QFY2023, however, dropped 33.82% to RM28.55 million from RM43.14 million, mainly due to the lower number of units sold and handed over to customers.

EWI declared a final dividend of six sen per share in the quarter, which translates to RM144 million, payable on Jan 14.

Combined with the RM792 million dividend already distributed, the group’s total dividends for FY2023 amounted to RM936 million, surpassing the targeted excess cash distribution of RM900 million set last year.

For FY2023, EWI's net loss was lower at RM85.37 million from RM234.42 million a year ago, despite revenue declining 34.49% to RM104.8 million from RM159.96 million.

The group achieved RM1.18 billion in sales plus reserves of RM114 million, bringing total sales for FY2023 to RM1.30 billion, with Embassy Gardens being the largest contributor at RM617 million, followed by RM215 million from Wardian and RM107 million from London City Island.

As at end-October, EWI still has about RM850 million of completed and nearly completed stocks that are available for sale, said its president and chief executive officer Datuk Teow Leong Seng.

“EWI’s effective share of these stocks is approximately RM650 million. With regard to all launches for the remaining sites, these will continue to be put on hold given the ongoing weak sentiment amongst homebuyers and significant cost inflation in the UK. We will consider proceeding with launches only when market conditions improve, cost pressures stabilise and expected returns that meet the group’s requirements can be forecast with greater certainty,” he said.

“As such, EWI’s target for FY2024 is to sell out all our remaining completed and near completed stocks with the aim of distributing the excess cash generated back to our shareholders, net of the amounts required for the group’s pared down operational requirements,” he added.

Shares of EWI closed up half a sen or 1.41% at 36 sen on Wednesday, giving the group a market capitalisation of RM864 million.

QR very good, dividend 0.25 cent, company keep growing.

Suddenly up so much. Good sign

Not yet goreng, after big boss coming, still waiting, how long?

个人觉得好戏陆续有来，等待，期待。

Good result

Invest in counter MYEG, AGMO, CUSCAPI. SAME BOSS,?

Dividend 1.25 not yet announce EX date right?

what meaning of 3328, 1672 haha

tambah 0.530

KUALA LUMPUR: RHB Research has reduced Ranhill Utilities Bhd's profit projections for the fiscal years 2023 to 2025 (FY23F-FY24F) by 11 per cent, nine per cent, and nine per cent as it adjusts its assumptions upward.

The investment bank said it expects stronger earnings in the coming quarters due to recognition of backdated billings of the water tariff hike from August to December 2022 in the first half of 2023 (1H23), as well as increased recognition of its engineering services projects such as the RM210 million detailed engineering design job for Saipem in Qatar.

It added that moving forward, prospects for Ranhill include the Indonesian Djuanda source-to-tap water project, whereby the company-led consortium may participate in a public tender via initiator status once feasibility studies are approved.

"Rerating catalysts include a potential boost in FY23F dividend payout if Ranhill partly utilises cash proceeds from the non-revenue water reduction incentive in FY22, coupled with opportunities to participate in more power plant projects in Sabah, with 200 megawatts (MW) of generating capacity expected to come on stream in 2024 and 2025.

"Ranhill has two existing combined-cycle gas turbine (CCGT) power plants with a capacity of 190 MW, in addition to the latest bid secured in March for a 100 MW CCGT on Sabah's West Coast," it said in a note today.

Meanwhile, RHB Research said Ranhill's first quarter ended March 31, 2023 (1Q23) core profit of RM11.1 million, which was an increase of 61 per cent year-on-year (y-o-y) was below its estimates but met Street's – making up 19 per cent and 21 per cent of full year projections, respectively.

It added that the negative deviation was partly due to a higher-than-expected cost of sales.

RHB Research has maintained a "Buy" call on Ranhill, with a new sum of parts (SOP)-derived target price of RM0.72.

It said risks to its call include lower-than-expected water consumption, developer contributions, and failure to secure new contracts under the services arm.

“GDEX 2.0 is an ecosystem for the future. It entails building a complete logistics ecosystem of technology partners and synergistic businesses in Malaysia and South-East Asia,” said Teong.

HAVING seen its Malaysian last-mile delivery business badly impacted by cut-throat pricing driven by the entry of foreign giants, GDEX Bhd has set in motion a pivot which holds promise.

Dubbing its new venture GDEX 2.0, the move is one that aims to morph the group into a provider of technology-based solutions from cybersecurity, to eCommerce and payment solutions for businesses.

OTHERS ECO WORLD INTERNATIONAL BERHAD ("ECOWORLD INTERNATIONAL" OR THE "COMPANY") PROPOSED REDUCTION OF THE ISSUED SHARE CAPITAL OF THE COMPANY PURSUANT TO SECTION 117 OF THE COMPANIES ACT, 2016 ("PROPOSED CAPITAL REDUCTION")

KUALA LUMPUR (April 20): Property developer OCR Group Bhd has maintained that there is no operational impact on the group arising from the lawsuit filed by a former contractor over alleged payment default of RM30.93 million in relation to projects in Kuantan and Petaling Jaya.

The claims by the ex-contractor, Kencana Amanjaya Sdn Bhd, are baseless and frivolous, said OCR in a statement on Thursday (April 20), adding that it has instructed its solicitors to contest the matter to fully defend its interest.

On Wednesday, OCR said Kencana is claiming alleged outstanding debt of RM16.38 million from its 90%-owned subsidiary, OCR Properties (Kuantan) Sdn Bhd, relating to the PRIYA Kuantan project.

The group said Kencana was appointed as the contractor for this project in January 2018 but was terminated in April 2021.

OCR added that Kencana is similarly claiming alleged outstanding debt of RM14.55 million from the group's wholly-owned subsidiary, OCR Construction Sdn Bhd, relating to the YOLO Signature Suites project, for which Kencana was appointed as contractor in May 2019 but terminated in April 2021.

In its statement on Thursday, OCR said PRIYA Kuantan is the largest affordable housing scheme in Kuantan, comprising 1,124 units of single-storey terrace houses and semi-detached homes within the RM125,000 to RM254,000 price range.

The project is a 50:50 joint venture between OCR Properties and Yayasan Pahang to develop the 100-acre land in Kuantan.

The RM166 million gross development value (GDV) project has been fully sold since its launch, with OCR set to deliver vacant possession of the first phase of 394 units in the second quarter of 2023. The balance 730 units are slated for vacant possession in the third quarter of 2023.

On the YOLO Signature Suites in Bandar Sunway, Petaling Jaya, OCR said it is cmpleting construction in the second quarter of 2023, having marked the topping up in December 2022.

The group said the low density 40-storey high-rise features 395 exclusive units, and the contract value amounts to RM159.6 million.

“We are tracking the market-appropriate timing for new launches of residential properties in the mid-term in strategic locations across diversified segments, from affordable housing and exclusive sub-urban condominiums, to condominiums,” said OCR Group managing director Billy Ong Kah Hoe.

He added that the group was simultaneously diversifying its property segment coverage to include the commercial segment, initially through the integrated e-commerce logistics hub which will also build a platform for sustainable earnings for the group.

OCR shares closed unchanged at 8.5 sen, valuing the group at RM84.15 million.

OCR Group Bhd’s units are being sued by their contractor over alleged payment default of RM30.93 million in relation to projects in Kuantan and Petaling Jaya. Kencana Amanjaya Sdn Bhd is suing OCR’s 90%-owned subsidiary OCR Properties (Kuantan) Sdn Bhd relating to a residential project involving 979 terrace houses and 130 units of semi-detached houses in Kuantan.

OCR said that Kencana was appointed as contractor in January 2018 for this project via a letter of award, which was terminated in April 2021. Kencana’s claims include RM16.38 million of outstanding debt and general damages arising from breach of contract.

SNS Network executive director Kelvin Pah (left) and Samsung Malaysia Electronics president Denny Kim (right).

PETALING JAYA: SNS Network Technology Bhd’s subsidiary SNS Network (M) Sdn Bhd has been awarded the Enterprise Business Strategic Partner (Education Segment) by Samsung Malaysia Electronics (SME) Sdn. Bhd.

In a statement, SNS said the award acknowledged its commitment to advancing education through technology and collaborations with Samsung Malaysia on various projects. This recognition highlights the group's efforts and dedication to promoting digital education.

Executive director Kelvin Pah said partnering with Samsung Malaysia on initiatives to provide tablets to students could enhance digital literacy and encourage students to familiarise themselves with technology that will be useful to their future.

“We believe our collaboration with Samsung Malaysia will pave way for new and innovative approaches to education, and we look forward to working together to transform the lives of students in Malaysia,” he said.

Samsung Malaysia Electronics president Denny Kim said: “We appreciate SNS for selecting us as their partner for this significant project. We believe that the project's objective is to equip the younger generation with the skills necessary to navigate an increasingly digital world.”

PETALING JAYA: Hiap Teck Venture Bhd anticipates steel demand in Malaysia to be driven by private consumption this year and is hopeful mega projects such as the Mass Rapid Transit 3 will be given the green light, which would help the recovery of the construction industry.

The company saw its net profit drop 20.6% year-on-year (y-o-y) to RM22.4mil for the second quarter ended Jan 31, 2023 despite an 8.2% y-o-y growth in revenue to RM360.6mil on a higher sales volume.

Cumulatively, for the six months ended Jan 31, it recorded a net loss of RM26.7mil, a 127% y-o-y reversal from the RM99.3mil net profit gained in the same period of the preceding financial year. In a similar vein to its quarterly performance, the loss was posted despite a 2.5% increase in revenue to RM758.4mil.

KUALA LUMPUR: SNS Network Technology Bhd says its wholly owned SNS Network (M) Sdn. Bhd has signed a collaboration agreement with Kumon Education (Malaysia) Sdn Bhd to supply Apple iPad products and accessories to Kumon Malaysia's students and parents.

Kumon Malaysia is part of the largest established after-school enrichment programme in the world with over four million students currently enrolled across 50 countries and regions.

The collaboration agreement covers over 200 Kumon learning centres and can benefit more than 37,000 students in Malaysia.

As part of the agreement, SNS will create and maintain a portal from which Kumon Malaysia's parents and students can access while also undertaking all services related to the supply of Apple iPad products and accessories.

SNS managing director Ko Yun Hung said the collaboration enabled Kumon Malaysia to gain access to a range of Apple products and accessories offered by it in a seamless manner.

"It also allows us to better serve and communicate with parents and students through the dedicated portal. These products will enrich students' after-school learning experience, providing them access to tools to stimulate their minds and enabling them to interact with each other," Ko added,

Kumon Malaysia general manager Atsushi Hasegawa said the supply of iPad products and accessories through the collaboration with SNS was part of Kumon Connect feature launched in January 2023 to encourage students to enjoy the learning process together online.

"We believe that digital learning is increasingly an important part of the entire learning process for students and we would like them to have a great head start."

why panic selling ?

drop drop drop

Tiger wan to fly higher, catch it

业绩好

发了一场梦

KUALA LUMPUR (May 23): theedgemarkets.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon close on Monday (May 23). One stock displayed positive momentum, while eight showed negative momentum.

The stock with positive momentum was:

Sapura Energy Bhd— up two sen at nine sen

The stocks with negative momentum were:

Ajiya Bhd — up three sen at RM1.19

CAB Cakaran Corporation Bhd — up two sen at 55 sen

Gas Malaysia Bhd — down nine sen at RM3.01

Global Oriental Bhd — up 4.5 sen at 28 sen

KNM Group Bhd — down 0.5 sen at 19.5 sen

Malaysia Marine and Heavy Engineering Holdings Bhd — up 1.5 sen at 43 sen

MPHB Capital Bhd — down 8 sen at RM1.49

Padini Holdings Bhd — up 0.4 sen at RM3.49

The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum.

This list is not a buy or sell recommendation. It merely tells you which stocks are seeing higher-than-normal volume and price movements.

The share price may move up or down from this point. But the “+ve” (suggesting a rising price trend on volume) and “-ve” (suggesting a falling price trend on volume) indicators should give readers a better idea of what the market is buying and when to sell. Note also that momentum generally only persists for a short period of time.

However, each stock has an accompanying fundamental score and valuation score to help readers evaluate the attractiveness of the stocks if they want to ride the momentum.

KUALA LUMPUR: Evergreen Fibreboard Bhd is well-positioned to weather near-term headwinds, driven mainly by adverse weather and global macro events, Hong Leong Investment Bank Bhd (HLIB) said.

The bank-backed research firm said this was due to the wood-based manufacturer's well-integrated operations and its diversified production bases.

While the company has noted some tightness in log supply in Malaysia due to the longer than usual wet season since the end of 2021, which caused two major floods, it has diversified into using mixed tropical wood and wood chips instead of solely using rubberwood to help alleviate the shortage in rubberwood log supply.

HLIB Research said this had helped Evergreen to maintain near-full utilisation of its particleboard (PB) and ready-to-assemble (RTA) plants except for the medium density fibreboard (MDF) plant due to log supply shortage.

"We are not overly concerned about this as these challenges are not structural or permanent in nature.

"Overall, the company is still riding on a positive momentum driven by recovering demand in the panel board and furniture market," it said in a note.

Meanwhile, HLIB Research said Evergreen was also in the midst of installing solar panels across three of its major Malaysian plants.

"The structure for installing these solar panels is 'zero capex' whereby Evergreen does not incur any cash outflows.

"The solar panel operators entirely bear the installation and maintenance costs.

"Evergreen only pays a fixed tariff for the next 25 years at a substantially lower rate than Tenaga Nasional Bhd's standard tariff, thus resulting in cost savings for the company," it added.

HLIB Research has maintained its 'Buy' call on Evergreen with an unchanged target price of 94 sen.

Resume trading at 3.30pm

KUALA LUMPUR: Caely Holdings Bhd has announced that the authorities have frozen the operations of all the bank accounts of its group of companies.

It said in a bourse filing that it expects an impact on the financial and operational aspects of the group, although it is unable to ascertain the extent of the impact at this juncture.

"The Board is not aware of any wrongdoing and will seek further clarification from the authorities on the issue.

"The Company will make the necessary announcements to Bursa as and when there are further developments on the matter," it said.

Before the midday break, shares in Caely were last traded up one sen or 2.17% at 47 sen.

Its warrants were up 0.5 sen or 3.7% to 14 sen a unit.

KUALA LUMPUR (March 24): The Malaysian Anti-Corruption Commission (MACC) officer who recorded the final statement of the late Ewein Bhd founder Datuk Ewe Swee Kheng agreed with Lim Guan Eng's defence in court that there are contradictions in the statement he recorded by hand with the businessman compared with Ewe's prior statements.

There are a total of six statements recorded from Ewe before he plunged to his death in the early hours of the morning from his condominium in Penang last Oct 5.

Four of them were recorded by Superintendent Muhammad Nazree Mansor, one of which is the final controversial one that Nazree took down by hand. The remaining two were recorded by another MACC officer.

Nazree, the 15th prosecution witness in Lim's undersea tunnel graft trial, initially disagreed with Lim's lead counsel Gobind Singh Deo that there were contradictions in the statements when he was quizzed on the matter and shown Ewe's previous statements.

However, as the senior lawyer highlighted the contradictions one by one, Nazree eventually agreed there were differences. At times, he said he had no knowledge of it when a perceived contradiction was pointed out to him.

Officer agrees Ewe's claim that Lim 'no longer untouchable' is illogical
One of the points raised by the defence to which Nazree agreed did not make sense was how Ewe had, according to Nazree's hand-written statement, described Lim as “no longer untouchable” because of the collapse of the Pakatan Harapan (PH) government, which the late businessman had cited as one of the reasons he was allegedly willing to give the additional statement.

Nazree agreed with Gobind that this was 'tak masuk akal' (illogical) because Ewe's final statement had been recorded on Aug 14, 2021, while the PH government had already fallen much earlier — in February 2020. Ewe's first statement to the MACC, given on July 3, 2021, was also after the PH government collapsed.

Below is part of their exchange:

Gobind: In the five statements recorded before Aug 14, [do you agree that] the witness had given evidence which is in contradiction with the one that you recorded on Aug 14?

Nazree: I disagree.

Gobind: Can you see that in Ewe's previous statements, he had mentioned that he got to know about the purported land that he wanted [to develop] from one Datuk Lee Chee Hoe, while in your handwritten statement he said he saw the said property from his house?

Nazree: I disagree.

Gobind: In Ewe's statement recorded in July 2021, he denied dealing with Lee or Consortium Zenith BUCG Sdn Bhd (CZBUCG) director Datuk Zarul Ahmad Mohd Zulkifli for the land?

Nazree: I agree.

Gobind: In that statement, Ewe agreed that [neither] Lim nor his wife had bought any house or property in the City of Dream project?

Nazree: Agree.

In the handwritten statement, Ewe said he wanted to offer units from the condominium he planned to build on the said land to Lim or his wife, if he obtained the plot.

The defence was questioning why Ewe did not relate in the handwritten statement that he had met several deputy public prosecutors earlier, to which Nazree said he could not comment as he had earlier been recording the statement of another witness.

Ewe's final statement was taken when MACC officers from the headquarters in Putrajaya went to Penang last August to meet him and several other witnesses. Ewe reportedly went to meet the MACC officers at 10am on Aug 14, but his statement was only recorded at 3pm.

Nazree also said he had taken down Ewe's final statement by hand as he had left his laptop at the hotel.

“However, procedurally I do not see any problems with recording the statement by hand,” Nazree further said during his cross-examination by Gobind.

It should be noted that Nazree had, in his court testimony just a day before, said he travelled from Putrajaya to Penang with several other MACC officers to meet Ewe in the state MACC office, and that they had not brought a laptop.

He also said he could not access any computer or laptop in the Penang MACC office as it was not a working day in the state when he met with Ewe on Aug 14, 2021, which was a Saturday.

Meanwhile, Nazree, in his Thursday testimony, further said he did not use the video recording room to record Ewe's final statement as he had to ask permission from the MACC security to do that.

“As Ewe is a witness, I decided to use one of the interrogation rooms,” he replied when Gobind asked him why the video recording room was not used.

Before the day's hearing ended with Nazree, Gobind told Sessions judge Azura Alwi that the defence was considering filing an application to call Nazree back due to his inconsistent testimony.

Lim's graft trial will continue before Sessions Court judge Azura Alwi on April 1.

Read also:
Late Ewein founder said Guan Eng no longer ‘untouchable’ after collapse of PH govt

Eco World International Bhd president & CEO Datuk Teow Leong Seng

KUALA LUMPUR: Eco World International Bhd (EcoWorld International) achieved sales of RM685mil in the first quarter ended Jan 31, 2022, 68% higher than the sales recorded in the same period a year ago.

The developer also has a strong reservation pipeline of RM393mil - total sales including reserves as at Feb 28 adds up to a total of RM1.077bil.

It said Embassy Gardens and London City Island were the biggest contributors to sales, generating

RM240mil and RM229mil sales respectively based on contracts exchanged.

“EcoWorld International had a good start to FY22 as the attractive incentive packages being offered to customers led to a resurgence in buying interest, particularly for our London City Island and Embassy Gardens projects.

“Local demand in Australia has also been recovering steadily which contributed to the RM685mil sales secured in the first four months of this financial year,” president and CEO Datuk Teow Leong Seng said in the statement.

In the first quarter to Jan 31, 2022, EcoWorld International posted a net loss of RM14.66mil on revenue of RM49.24mil.

The gross and net gearing levels of the group remain low at 0.29 times and 0.21 times respectively as borrowings have been significantly pared down following the completion of major projects in London, Sydney and Melbourne, it said.

Teow said its projects in Australia are fully completed and its major projects in London under the EcoWorld-Ballymore joint venture are very close to achieving full completion.

“The impact of an inflationary environment could therefore favour us as our selling prices stand to benefit from rising property prices while our costs on the completed and near-completed projects are largely shielded from inflationary pressure,” he said.

“We do however acknowledge the uncertain market environment caused by rising geopolitical tensions – against such a backdrop the strategic decision we made at the end of 2021 to accelerate cash recoupment via the sale of our completed units, remains very sound,” Teow said.

He added that it continued to see good interest from investors, both institutional and retail, for its projects in both the UK and Australia.

“This includes several large offers which we are currently assessing. Should we decide to proceed with these offers, our plans to repatriate the capital which we have invested in our completed projects could be accelerated,” he said.

Teow said that it remained the Board’s intention to sell the remaining units in the EcoWorld-Ballymore and Australian projects in the next two to three years with a key goal of making further distributions to shareholders after setting aside a portion of the capital recouped from these completed projects to be reinvested for future growth.

Invest wrong oil counter.

Wah, why QR so good

Jump to the other counter

Get up soon

Why QR not yet?

It will pay div 1st, after tat bonus issue at next year 1st quarter.

Yea, bonus coming

Wednesday hv game

Round for ewint now!

So, guys keep or sell?

Waiting QR, should be good

Ewein 的业绩还没出，我认为要等业绩出才做决定要不要买或卖。

When perdana will become next knm? Waiting...

I think late qr maybe got good news. Hold on