<Dutaland: A cash rich entity.>

To recall, following the sale palm oil land in Sabah for RM750 million (the sale was completed on 16 May 2018) , Dutaland’s strong net cash position swelled to RM642.56 million or 75.94 sen per share as at 30 Jun 2018, circa 137% of market cap. The stock traded below its cash balance. This means that the market was effectively putting zero value to its existing properties and ongoing business.

Tan Sri Dato Yap Yong Seong is the company’s largest shareholder with a total stake of 52.64% as at July 31, 2018.

The company has paid out a special dividend of RM0.05 per share for a total sum of Rm42.3 million to the shareholders on 29 June 2018.
The distribution of second special dividend of RM0.05 per share for a total sum of Rm42.3 million to the shareholders will be paid out within 9 months. This translates into a yield of about 18%, based on its stock’s closing price of RM0.555 last Thursday.

While the counter appears undervalued, realistically, what else is appealing about the company besides its cash coffer? Could it be a reverse takeover target since it has a clean balance sheet? For now, only time will tell.

To recall, M-MODE Bhd saw 50.89 million shares, or a 31.3% stake, change hands in eight direct deals for RM29 million in total on June 22. The transaction price of 57 sen each was a 48% premium to the closing price of 38.5 sen that day.

KUALA LUMPUR (25/7/2018): M-Mode Bhd's founder Datuk Lim Thean Keong has stepped down as the group's managing director.

Lim resigned to devote more time to operation matters at subsidiary level, the group said in a filing with Bursa Malaysia.

M-Mode also said its new single largest shareholder, Ong Chee Koen, will be redesignated as chief executive officer from his previous position as executive director.

Ong emerged as the single largest shareholder on June 22 via Ecobuilt (M) Sdn Bhd (18.9 million shares) and E&J Venture Sdn Bhd (4.84 million shares), raising his deemed interest from 14.16% to 20.16% after the deal. He bought the additional shares from Lim (the transaction price of 57 sen each) .

IBHD 1H net profit 46.786 million (increased 11.13%


-The Group’s longer-term earnings visibility is secure and will be underpinned by its current unbilled sales of RM305.4m as at 30/6/18, to be augmented by the fully-sold Hill 10 Residences worth about RM120m and increasing contributions from the 8 Kia Peng project in downtown Kuala Lumpur which is starting to gain strong traction.

-The Group’s RM850m shopping centre built in collaboration with the Central Pattana Group, the latter holding a 60% stake and its first foray outside of Thailand is slated for opening mid-November(spread across 940,000 sqft).

-Dividend yield :4%

The final single tier dividend amounting to 2.13sen per ordinary share will be declared soon.

--A leading supplier of electronic gaming machines and casino equipment in the Asian region--

RGB is a major machine concession programmes provider in Asia. RGB has marked its presence in Malaysia and also operates in Cambodia, Lao PDR, Vietnam, Singapore, Philippines, Macau SAR, Timor-Leste and Nepal.

Datuk Chuah Kim Seah is the single largest shareholder of RGB with 28.2% equity interest. He is the managing director of RGB. He has an extensive experience in the amusement and gaming machines industry.

The fifth major shareholder is a reputable value investor Fong Siling, better known as “Cold Eye” in investing circles.

Datuk Chuah said RGB would supply a wide area progressive jackpot system to Pagcor to link all its 160 gaming machines in 14 casinos nationwide. RGB would also deliver 679 machines and 25 units of card shuffling and chip sorting machines with a value of RM92m to an integrated resort in
Vietnam. These machines will be delivered by mid-April.
RGB is expecting an additional RM50m in turnover this year from five concessions and leasing deals inked last year and the year before.

--Corporate development--
The Company proposes to undertake a proposed bonus issue of up to 194,620,529 Bonus Shares on the basis of 1 Bonus Share for every 7 existing RGB Shares held on the Entitlement Date.

--Net cash--
RGB is in a net cash position of 5.3sen per share as at 31th March 2018.

--Dividends--
RGB has been paying dividend consistently since FY13. Its div. yield has been rising every financial year.

Crest Builder started as a small construction outfit in 1983 with less than 10 staff by the late Yong Soon Chow. Today it is a large builder and property developer with more than 300 staffs.

Total contract wins for 2018 reaching RM596.1 million with the total outstanding orderbook about RM1.3billion as at 31/3/2018, which will last until 2021.

Declared first and final single tier dividend of 4.00 sen per ordinary shares, ex-date: 11/7/2018, which translates into a yield of approximately 4.5%.

----Healthy balance sheet with attractive dividend yield.----

Share Issued 197.596M
Market Cap 118.558M


52w 0.510 - 0.965
ROE (14.46)
P/E (4)
EPS (15.80)
DPS (5.00)
DY (8.33%)

Based on the latest 4QFY17 results, the group does not have any borrowings with a net cash position of Rm0.14/share (23% of market capitalisation).

Declared final single-tier dividend of 5.0 sen per ordinary share, ex-date 30 Apr 2018. DY (8.33%)

It has a 15.8% stake in Willowglen MSC Bhd.

Hot election stock/ government-linked companies (GLCs) ahead of Election with higher dividend payout. Offer a decent 9.8% CY18F yield.

Moving on, based on customers’ feedback and projections, this year should be another double-digit percentage growth year for the group, according to group managing director Alvin Mui.

“For the first quarter 2018, P.I.E expect to ship out over RM130mil worth of PCBA and box-built products.

“Like the first quarter of 2017, this first quarter is not weak.

“Previous first quarters as in 2016 and 2015 were not very strong quarters, as we shipped out less than RM120mil worth of products,” Mui added.

EX-date :16 Jan 2018
Entitlement date: 18 Jan 2018
Entitlement time 04:00 PM
Entitlement subject: Special Dividend
Entitlement description:. Special Dividend of 19 sen

Will Special Dividend ( 19 sen per share) Boost Around the Corner for Selangor Dreging Bhd?

Is a Special Dividend (around 19 sen per share) Boost Around the Corner for Selangor Dreging Bhd?

BIOHLDG have recently just shipped first batch of health supplements to Inner Mongolia. The management is optimistic export sales will continue to expand at double-digit growth rate.

--------TEXCYCLE - Power plant to complement waste management business.--------

Tex Cycle collects contaminated materials directly from companies in the electronic, engineering, automobile, oil & gas, printing and other manufacturing industries.

Tex Cycle is licensed to treat 31 out of 77 type of waste regulated in the country, such as rags, wiper cloths and gloves from companies in various manufacturing sectors.

-It has near to 5,000 customers to nationwide, comprising local multinational companies.

<Investment Catalyst>

-Stable business model.
Revenue derived mainly from waste management locally. Tex Cycle is the hidden beneficiaries from the growth that is being experienced in several industries (from the technology or even the automobile industry for example) in Malaysia. The management expects the company growth will be consistent over the next few years within the waste management industry.

-New power plant.
New power plant project to supply power to TNB which will commencing no later than 28th Jan 2018 for 16 years.The management anticipates the business will generate revenue of Rm7m and profit after tax of Rm4 in FY19.

-Potential transfer to main board.
Tex Cycle could be looking to transfer to main board after having a cumulative of RM20m over the past 3 financial year.

-Healthy balance sheet.
Based on the latest quarterly results, the company is in a net cash position.

Paramount’s 3Q17 results fell below our estimate. The company’s headline net profit was boosted by a MYR77.8m gain on disposal arising from the sale of its Sri KDU campus.

3Q17 new property sales were at MYR213m, vs MYR176m in 2Q17. This brings the 9M17 total to MYR633m. Sales continued to be strong, mainly driven by various incentives and rebates offered for a few projects.

Given the strong sales, the company’s unbilled sales continued to increase to MYR588m (from MYR534m in 2Q17).

As the disposal of the SRI KDU campus was just completed in October,expect the special DPS of MYR0.075 to be paid in the coming months. This, as well as the listing plan for the education division, would continue to drive its share price ahead.

Incident happened at AZRB UDA Legasi, Kampung Baru site.

<Thinking Long Term: A plantation company of double digit FFB production growth for many years to come.>

Innoprise Plantations Bhd (IPB) has planted 12,294 hectares of oil palms in a contiguous piece of land in Tawau, Sabah together with a 60 MT FFB/ hr palm oil mill.

<Good harvest ahead.>

IPB has excellent age profile of overwhelmingly young mature and immature oil palms. About 10,686 hectares or 88 per cent of the plantings are mature of which only about 1,750 ha are in prime age and the balance young mature palms.

IPB has since 2009 started large scale planting of TSH Wakuba clonal oil palms with proven high FFB and oil yield.
As about 20 per cent of the total area has been planted with clonal oil palms, this will accelerate future FFB production growth.
Oil extraction rate achieved over the last two years averaged 24.5 per cent , well above the national average of 20.2 per cent.


<Good dividends ahead.>

IPB's net debt has been dropping rapidly over the last 2 years and will likely fall to below RM25 million by end of 2017 giving a net gearing ratio of 8 per cent.

Cash flow wise the company is in a sweet spot as virtually all planting and development expenditure has been incurred and most infrastructure facilities for staff and employees completed. This bodes well for future dividend pay-out.

A growing plantation company.

Pintaras: Benefit From Big Construction Wave & Appealing dividend yields.

-Strong Balance Sheet.-
As at 30 June 2017, it had liquid assets (86% cash and 14% portfolio investment ) worth a total of MYR 208.5m or MYR1.27/share.

Its net cash of RM179m or RM1.09/share ( c.28% of its current market cap ) should support net DPS of 20 sen (net yield of 5.2%).

-Appealing dividend yields.
DPS of 20 sen was declared in FY17. Given the current low yielding environment, Pintaras stands out as an excellent dividend play with annual dividend yield of 5.2%.

-Potential shortage of piling industry capacity.-
Order book stands at RM50m as at 31 Aug 2017. Although the outstanding order book is low at RM50m, Pintaras has a good chance to win contracts with its readily available capacity, given the potential shortage of piling industry capacity.
The management will be able to secure more new contracts from its current high tender book of RM1.2bn, which includes works for LRT Line 3 and Bandar Malaysia projects. Property developers are focusing on high-density mixed development projects, which require more piling works.
Hence, Pintaras will benefit from higher demand for bore piling services in 2H.

Net cash position. Decent dividen yield.

Many investors said Protasco is not good, but ,EPF is keep collecting.
EPF started making announcement after accumulated >5% of Protasco in May 2017. Back in March 2017 Annual Report, EPF only accumulated 3.4% stake in the company.

Only 5 months, EPF already increased stake in Protasco from 3.4% to 8% as at 17/8/2017.. This means EPF is now the second largest shareholder of Protasco. It looks likes EPF is getting more aggressive in Protasco share acquisition.

The group has shown improvement in cost management, a stronger balance sheet with a growing cash pile, and solid financial track record led by a prudent management team.

But the group’s still in net cash position of RM23.62mn or 11.2sen/share and RM5.59mn cash flow from operation as at FY17. I believe Es Ceramics is a good stock to consider for long-term investment.

Current price:Rm1.33
In filings with Bursa Malaysia, the company said major shareholder DATO' TIONG KWING HEE had acquired of 2million shares, or a 4.977% stake on 4/7/17 at a price of Rm1.50 per share.

An interesting short-term investment.

PESONA-WC(Rm0.415). (Expiry: 27 Jan 2020, Premium: -0.75%; Gearing: 1.61x)
PESONA-WC is in the money......good buy.

A cheaper trading exposure is through PESONA-WC(Rm0.425). (Expiry: 27 Jan 2020, Premium: 2.27%; Gearing: 1.53x

Only 2.27% premium which is consider low among many warrants in the market. Very low......good buy.

Share price will be buoyed by the FY17-19F dividend yields of 5.7-6.1%.

Upside risk: lower-than-expected prize payout ratios and better-than-expected dividend payouts.

Downside risks: further proliferation of illegal gaming operators and worsening NFO sales.

<Potential rerating amid strong orderbook, undemanding valuation and attractive dividend>

-its construction contracts worth RM1.3 billion and a sizeable outstanding balance of contract value approximately RM1.0 billion as at 31 December 2016 (lasting until 2020-2021).

-its existing property development project with ongoing & future GDV stood at ~RM4bn.

-supported by an attractive DY of 4.3%.
First and Final Single Tier Dividend of 4.00 sen. Ex-date:21 Jun 2017

-with the completion of UiTM Tapah concession project and its refinancing exercise, expect better margins moving forward.

-tender book for 2016 exceeded RM2.8 billion and expect tender book to hit RM3.0 billion going forward.

Share prices are likely to witness further re-rating if CRESBLD delivers a stronger showing in FY17.

Declaring final single-tier dividend of 2.0 sen per ordinary share (ex-date 19th April 2017) with 3.96% dividend yield based on current market price of RM0.505.

OSK Ventures has net cash per share of RM0.46, investment securities (RM93.1m) and is trading at a discount below its net assets per share Rm0.95 as at 31/12/2016.

Based on Willow's current market price, the stake (16.17%) is worth RM35.2m.

Coupled with the growth potential in Willow businesses, the OSK Ventures appears to be an attractive stock.

Highlights:

-The Group achieved a lower profit before tax (“PBT”) for the quarter under review of RM3.28 million due to:

*margin compression arising from higher operating costs and resin prices driven by weakening Ringgit Malaysia against US dollar,
*lag-on effect in selling price adjustment.
*RM2.08 million foreign exchange loss and fair value loss of foreign exchange forward contracts.

-BP's balance sheet is clean. Net cash per share stood at RM0.235/share with a positive net cash generation of RM0.081/share as at 31 December 2016.

-BP has declared the fourth interim dividend for FY16: 2sen. EX-date: 15 Mar 2017, bringing FY16 dividend to 8.0sen.

-A brand new cast stretch film machine was successfully commissioned in December 2016. Forecast to see strong earnings growth and margin improvements YoY through its export-driven expansion play (76% export oriented as at 31 December 2016).

<Profit from One-off gain>


Profit/(loss) for the period (Rm38,396,000) after deducted other income (Rm35,389,000)= Rm2,807,000.

If the impact of other income is excluded, profit from operations would be Rm2,807,000.( Earnings per share = Rm0.0195).

Direct Business Transaction: Dir-Vol: 19,820m, Dir-Val: 16.847m, Dir-Avg Price: Rm0.85. Direct share: 2.231%.

1H net profit 24.522 million (increased 165.02%).

--Healthy balance sheet--
Pintaras Jaya has cash and bank balances + deposits + available-for-sale financial assets of Rm202,898,000 as at 31/12/2016.
This translates to net cash per share of RM1.24. (35% of share price).

--Decent dividend yield--
At current price, the projected dividend yield is about 5.5% for FY17 which deem attractive under current low-interest rate environment.

--Strong prospect--
The prospects for the piling/foundation sector are strong underpinned by large-scale infrastructure projects (MRT2,Pan Borneo highway, SUKE, DASH, LRT3, etc), as well as affordable housing (particularly, mid-priced and high-rise residential projects in the urban areas).

-After stripping out the RM65.8m gain on the disposal of the China waste management operations, Taliworks’s FY16 core net profit was 8% above our full-year forecast and 6% above consensus.

-The main deviation arose from 4Q16’s write-down of deferred tax
liability in relation to the change in the amortisation method for highway assets.

-Total full-year DPS of 8 sen was in line (5.2% yield).

-Medium-term catalysts include the resolution to the water deal and new M&A prospects. Downside risks include a prolonged timeline for new M&A plays and further delays in the water deal.

-Water receivables related to its 100%-owned SSP1 stood at RM502m (up 7% qoq, 52 sen/share, about 27% of Taliworks market capitalization.) - classified as a trade receivable owed by Splash and is likely to be recovered once the Splash acquisition issue is resolved, optimistically by mid-2017. The possibility of higher dividends remains intact.

At current price, the projected dividend yield of Taliworks is about 5.4% for FY17 which deem attractive under current low-interest rate environment.

----Boosting cash (and dividends?) from Splash deal----

April remains the next target for the resolution of the sale of Splash.

The final independent valuation on Splash is underway,which could narrow the pricing negotiations to around the RM2.8bn-3.2bn book value of Splash.

Taliworks: A new operator of sizeable infrastructure assets with earnings stream is backed by mature and profitable concession-type model like IJM Corp, Ekovest, AZRB and Gamuda.

--Investment highlights--

Taliworks realigned business model is driven by four main divisions:

----Water treatment and distribution.----
*One of the O&M players in Selangor (Sungai Harmoni (SSP1) - 100% stake) and the sole player in Langkawi. (Taliworks Langkawi - 100% stake).

Sungai Harmoni (SSP1) has a 30-year O&M Agreement which expires in Jan 2030. SHSB charges SPLASH at a bulk sale rate (BSR) of RM0.42/m3 of treated water currently. The BSR is expected to increase by 5% every 3 years with the next hike scheduled in 2017.

Langkawi operations will expire in 2020. Taliworks Langkawi charges for its services at a BSR of RM2.15/m3. The BSR would be revised upward to RM2.24/m3 from 2018 to October 2020.

----Tolled highways – Owns and operates two highways domestically. (Cheras-Kajang Highway - 51% stake, NNKSB Expressway - 37.5% stake)----

Double-digit tariff hikes.
*Cheras-Kajang Highway was granted a 30% toll rate hike in on Oct-15.
*Cheras-Kajang Highway is also scheduled for a 25-45% toll rate increase every five years from 2015.
*NNKSB has not been granted its tariff hike effective 1 Jan 16. Management is pursuing non-tariff compensation, typical for all other highway concessions in the country. NNKSB is scheduled for a 20-30% toll rate increase in 2016, 2020 and 2025.

----Waste and wastewater – new acquisition in Feb 2016: SWM Holdings. (SWM - 38% stake)----

*With a concession tenure expiring in 2033, its earnings is set surge in 2019 driven by the full-year impact of the scheduled 25% tariff hike in Sep 2018. The maiden contribution flows through from 2Q16 with an expected full-year contribution of up to RM30m in FY17.


---Construction and Engineering – water-related infrastructure works specializing in water treatment plants (WTPs)----

Catalyst:

----New dividend policy is no less than 75% of PAT.----

The group’s new dividend payout policy of not less than 75% of its net profit for 2015 onwards remains intact. The group paid out 8 sen for FY15, which translates to a dividend yield of 5.7%.Taliworks’ existing ifrastructure assets are mature, and therefore require minimal capex. Forecasted 8 sen DPS p.a. for FY16-18 is deemed sustainable and implies a payout ratio of 70-90% of net profit.

Water deal extended to Mar 2017 Water receivables related to SSP1’s operations stood at RM471.5m (end-2Q16: RM440.3m). This is classified as trade receivables owed by Splash and are likely to be recovered once the acquisition of Splash, which is the last targeted water asset in the
state, is resolved. The deal has been extended by another six months to Mar 2017 in order to finalise the valuation of Splash. Resolution of this deal would lead to a recovery of SSP1’s receivables and in turn, would increase chances for higher dividends.

Tremendous Value In Order Backlog, Concessions And Plantation

<Highlights>

-A sizeable construction orderbook.
Outstanding construction order backlog of RM4.1bil, which will keep AZRB busy at least for the next 3-4 years.

-Steady income from concession assets.
*Exclusive rights (due for renewal in 2023) to supply marine fuels and
provide other bunkering services to Petronas production sharing contractors at Kemaman Supply Base, Terengganu.
*The RM413mil International Islamic University Malaysia (IIUM) Medical Centre in Kuantan was carried out via a 25-year private finance initiative arrangement with the government and has contributed since 2QFY16.

-Indonesian plantation asset.
Still lossmaking, there is tremendous value in its 15,584-ha oil palm plantations in West Kalimantan, Indonesia, of which 47% or 7,316ha are now planted.
Acquired in 2004, estimate that its market value has easily doubled from RM148mil carried as biological assets in AZRB’s balance sheet as at 30 Sep 2016.

Datasonic remains as RHB Research Top Buy as the research house believes that the commencement of its passport book job in Dec 2016 would propel earnings to a new high in 2017.

Ikhmas --- good proxy to the booming local construction sector.

Ikhmas to register strong growth in FY17, given the low base effect, strong outstanding order book and as some of its construction projects accelerate.

AmResearch project earnings of Ikhmas to contract by -43.6% in FY16F, but more than double by +115.0% in FY17F from a low base.

FY17F earnings forecast is highly achievable, backed by an outstanding orderbook of RM590mil. YTD, its job wins stand at RM438mil.

冷眼：“沒成長，不要買，有成長，不要賣；成長短，短持有，成長長，長持守。
AmResearch projects earnings of Ikhmas to contract by -43.6% in FY16F (versus -19.5% previously), but more than ---double by +115.0% in FY17F(有成長，不要賣)--- from a low base.

<2017, a year with strong prospect>

Earnings visibility is anchored by a sizeable order backlog, coupled with strong prospects for job wins. Outstanding orderbook of RM590mil. YTD, its job wins stand at RM438mil.


Following a recent meeting, AmResearch maintain BUY recommendation but cut FY16F/17F/18F earnings forecasts by 30%, 10% and 1% respectively, and cut
FV by 10% to RM0.76 (from RM0.84), based on 13x revised FY17F EPS of 5.9sen to reflect additional costs to be booked in from the RM278mil Subang Skypark railway track project (95% completion).

Ikhmas is only likely to recover these additional costs upon the handover of the project (which is beyond FY16).

The research house projects earnings of Ikhmas to contract by -43.6% in FY16F (versus -19.5% previously), but more than double by +115.0% in FY17F from a low base.

On a brighter note, Ikhmas is upbeat on new orderbook replenishment over the immediate term. It is hopeful to secure from a reputable private developer a bored piling job and a massive infrastructure package worth >RM500mil in total, as well as design & build government building jobs
worth about another RM500mil in total.

---Emergence of new major shareholder---
**Lembaga Tabung Haji (LTH) has emerged as a substantial shareholder in piling
and engineering specialist Ikhmas Jaya Group Bhd, after purchasing 26.9m
shares or 5.17%( price range between 64sen to 65.5 sen pershare) stake in the company.

** LTH bought the stake via direct transaction on Oct 25. This means LTH is
now the new 2nd largest shareholder of Ikhmas Jaya, after Ikhmas Jaya
Holdings Sdn Bhd, which holds a 65% stake with 338m shares.

** LTH has emerged as a substantial shareholder in Ikhmas Jaya is a sign that of growing confidence in the group’s prospects.

According to HLIB research, Homeritz requires skilled foreign workers to
manufacture its products. However, the government’s decision to temporarily freeze the intake of foreign workers in Feb 2016 has caused a shortage in their manpower.
The company has recently managed to secure the approval to hire and bring in foreign workers which will allow the company to recover its production output especially with new capacity expected to come in by next year. Thus, the research house expect sales volume to recover and EBITDA margin to
normalize gradually in FY17.

TGL declared first and final single-tier dividend of 7.5 cents
Ex-Date: 29 Nov 2016
Payment Date: 01 Dec 2016

Teo Guan Lee Corp Bhd is a Penang-based wear maker who specialist in the marketing of baby and children apparels segment in the Malaysia.

-Teo Guan Lee Corp Bhd is a wear maker of the well-known house brands “Kiki Lala”, “Cuddles” and character brands “Tom and Jerry”, “Baby Tom and Jerry”, “123 Sesame Street” , “Garfield”, “Popeye” and “The Powerpuff Girls” of baby and children apparels segment.

-The company’s affordable pricing is expected to continue attracting interest from consumers. Valuation is undemanding at 10x of FY16F EPS. FY16F dividend yield is decent at 5.43%.

-The children’s wear market is reported to be one of the most lucrative segments in the global apparel industry, and was not much affected by the meltdown in the global economy.

HOMERIZ : A good proxy to high dividend yield seekers.


The less favourable result for Q4FY2016 was attributed to the reduction in volume sold of 8% compared with Q4FY2015.

The volume sold declined, arising from reduction of manpower (the shortage of foreign workers) stemming from the government’s decision to temporarily freeze the intake of foreign workers for all sector announced in February 2016.

1)The company would benefit from strong US$.

2)Strong balance sheet with healthy net cash position of 18.8sen/share as at 31 August 2016 to support progressive dividend payment.

3)Dividend yield for HOMERIZ is one of the highest in the sector.
The total dividend declared for FY16 to 5sen (FY15:4sen), implying an attractive yield of 5.2% ( share price 95.5sen), based on more than 50% payout ratio.
Expect the share price to be supported by the group’s dividend yield of 5%.

--------Look beyond 2018, an exciting year.--------


-The decline in 3Q16 and 4Q16 earnings should not be a concern as it could simply be a result of seasonality.

-In 3Q16, the Board of Directors is of the opinion that the business and performance of the Group is expected to be robust and strong for the current and coming years.
-------------------------------------------------------------------------------------------------------

Potential of robust earnings growth in FY18, driven by the full scope of RE revenue from its Ladang Tanah Merah (LTM) project.

-To recap, SMART WTE project in Ladang Tanah Merah, Negri Sembilan ( a 25-year concessionaire period project), has completed phase 1 of its sanitary landfill development, and currently contributes income in the form of tipping fees of the landfill.

-Currently, the renewable energy sector generates RM40 million revenue for the company. (3Q16, Rm35.6million).

-SMART WTE project will have a total generation of RM100 million a year upon completion.

-By the end of 2017, Cypark expects to generate annual revenue of up to RM140 million to RM 150 million from its renewable energy sector (RE), supplemented by its SMART waste-to-energy (WTE) project and other contracts.

-Cypark has set a target for the sector (RE) to contribute more than 60% to its revenue by the end of 2017.

-For its dividend policy, possibly seeing an increased payout of 30% to 40%, from the current 25% due to the stronger cash flow from projects.

-In the longer term, Cypark’s earnings will benefit from its participation in more WTE projects in Malaysia. Cypark has an advantage in future waste-to-energy (WTE ) project bids as it is the only WTE concession owner in Malaysia. It is building a WTE plant in Negeri Sembilan, which is expected to be completed in late 2017.

-The shares of Hap Seng Plantations is trading at an earnings multiple of 20 times respectively compared to the plantation index which is currently valued at 26 times earnings.

-The latest data by the Malaysian Palm Oil Board (MPOB) shows that spot prices for CPO had hit RM2,899 on Sept 21, which is the highest in more than two years.

-During the third quarter period from July 1 to Sept 22, CPO prices have averaged RM2,604 per tonne according to Bloomberg data.

-Its average cost of production was RM1,376/tonne in 1H16.

-Beneficiary of rising CPO price in 3Q.

The group is a beneficiary of the 17% CPO price spike from end-June to RM2,899/tonne currently as it sells most or all of its palm products on a spot basis.

Its 2Q16/1H16 average CPO price achievement of RM2,661/RM2,510 per tonne is also better than the Sabah’s avg. CPO price of RM2,584/RM2,483 per tonne.

This is due mainly to the price premiums of US$20-30/tonne (or RM80-120/tonne) that it received from its CSPO products. Every RM100/tonne change in CPO price impacts its FY16 net profit by 13%.

Steel prices have eased from a peak of RM2,800/t in 2Q16 to RM1,900/t currently. Any good catalyst?

Steel prices have eased from a peak of RM2,800/t in 2Q16 to RM1,900/t currently. Any good catalyst?

Steel prices have eased from a peak of RM2,800/t in 2Q16 to RM1,900/t currently. Any good catalyst?