CIMB Daybreak - 17 April 2015
HIBISCS (5199), SASBADI (5252), FARMBES (9776), MTOUCHE (0092), AAX (5238), CBIP (7076), KENANGA (6483), HEKTAR (5121), VS (6963), KPJ (5878), MRCB (1651), RHBCAP (1066), KLCC (5235SS),
Hibiscus's JCE farms into North Sea license
April 17, 2015 11:15:00 am
Hibiscus Petroleum's jointly-controlled entity, Lime Petroleum Norway, has signed an agreement to acquire a 30% interest in Production Licence 544 (PL544) from Lundin Norway AS. The license is located in the North Sea, in water depth of about 100 metres. The independent oil and gas producer, however, did not disclose its purchase price. (Star) Source: CIMB Daybreak - 17 April 2015...
Lundin, Petronas strike first oil in Bertam field offshore Pahang
April 17, 2015 11:08:00 am
Swedish independent oil & gas company Lundin Petroleum struck first oil on 5 Apr from the Bertam oilfield 160km offshore Peninsular Malaysia. Lundin, which is the operator, has a 75% working interest and partner Petronas Carigali holds the rest. The Bertam field, Lundin’s first development project in Malaysia, has begun production from four pre-drilled development wells. The plan of development for the Bertam field, which is located on Block PM307 offshore in Pahang, was approved by Petronas in Sep 2013, and first oil was achieved within 18 months from the approval. “The Bertam field project has been delivered on time and on budget, amounting to approximately US$400m (RM1.5bb) gross,” Lundin said. (Star) Source: CIMB Daybreak - 17 April 2015...
BMW lowers car prices thanks to GST
April 17, 2015 11:08:00 am
BMW Group Malaysia is revising the prices of all BMW and MINI vehicles lower by up to 1.9% as well as BMW Motorrad to be lower by up to 18% to transfer the benefits gained from the implementation of the GST to its customers. (Sun) Volkwagen Group Malaysia Sdn Bhd, a unit of Volksagen AG, will open two more technical service centers this year to strengthen its after-sales services. Volkswagen Malaysia managing director, Armin Keller said the centres would be opened in north Puchong and Batu Caves. The first centre was opened in Taman Tun Dr Ismail, Kuala Lumpur. (BT) Source: CIMB Daybreak - 17 April 2015...
Tesco Malaysia is planning to boost its online business operations
April 17, 2015 11:07:00 am
Tesco Malaysia is planning to boost its online business operations by adding two more stores to its list of outlets making deliveries within six months. "We have 3m Clubcard holders in Malaysia and we will continue to invest in Tesco's online 'Grocery Home Shopping' services, especially in Selangor," said chief executive officer Datuk Gorg Fischer after launching the "Lebih Jimat" campaign. There are six Tesco stores in the Grocery Home Shopping network. (BT)Source: CIMB Daybreak - 17 April 2015...
Search Results Sasbadi wins contract to publish Form 5 BM literature textbook
April 17, 2015 10:59:00 am
The Education Ministry has awarded a RM2.3m contract to Sasbadi Holdings to publish and supply the textbook for the literature component of the subject of Bahasa Malaysia for Form 5 to national schools throughout Malaysia. The contract’s period was from April 15, 2015, to Dec 31, 2017. SSB is expected to deliver the first batch of the textbooks worth about RM1.95m in 1Q16. (StarBiz)Source: CIMB Daybreak - 17 April 2015...
SC rejects Farm's Best takeover plan
April 17, 2015 10:59:00 am
The SC has rejected integrated poultry producer Farm’s Best's application for a series of corporate proposals, which include a reverse takeover by a China poultry player. The regulator was of the opinion that the company, its directors and advisers had “failed to undertake a critical assessment of the information being reviewed and submitted, judging from the numerous inconsistencies, mistakes, omissions and poor quality disclosures contained in the application as well as in the responses to the SC. (StarBiz) Source: CIMB Daybreak - 17 April 2015...
Penang Sky Cab study to be completed in five to six months
April 17, 2015 10:59:00 am
Penang Sentral Sdn Bhd, which will develop the RM2bn Penang Sentral mixed project, will take about 5-6 months to complete a study on the proposed Penang Sky Cab linking Penang island to the mainland. The cable car project, touted to be ready by 2018, is a brand new idea that was not featured in the RM27bn Penang Transport Master Plan, which has a 15-year completion period. (Financial Daily) Source: CIMB Daybreak - 17 April 2015...
Perodua to grow after-sales business
April 17, 2015 10:57:00 am
Perusahaan Otomobil Kedua Sdn Bhd (Perodua), which launched a new accessories brand called GearUp yesterday, aims to grow its accessories business to make up 15% of its after-sales business by next year, from 10% currently. President and CEO Datuk Aminar Rashid Salleh said the after-sales business contributes 10% to its total revenue and represents 40% of its gross profit. The after-sales business consists of service, parts and accessories, as well as body and paint. Meanwhile, Aminar said it is maintaining its sales target of 208,000 units this year. (Sun) Source: CIMB Daybreak - 17 April 2015...
mTouche inks deal with Celcom Axiata
April 17, 2015 10:56:00 am
mTouche Technology Bhd, through its subsidiary MTB Securenet Sdn Bhd, signed a Master Application and Content Provider Agreement with Celcom Axiata Bhd via Celcom Mobile Sdn Bhd. In a filing to Bursa Malaysia, mTouche said the agreement was to provide subscribers with its fully Malaysian developed encrypted and secured mobile communication application with a range of features including email. "The increasing number of data breaches, hacking and cyber intrusions making headlines around the world today clearly reflects the need for an application like this," said mTouche Group Chief Executive Officer Zakhir Mohamed. (Bernama) Source: CIMB Daybreak - 17 April 2015...
Former AirAsia X CEO Azran joins Patrick Grove’s iflix
April 17, 2015 10:55:00 am
Catcha Group has announced that former AirAsia X Bhd CEO Azran Osman-Rani has been appointed CEO of iflix Malaysia, and COO of the iflix Group. Azran served as CEO of AirAsia X from its inception in 2007. iflix is dotcom pioneer Patrick Grove’s new video-on-demand venture was announced in early-March, about a month after Singapore Telecommunications Ltd (Singtel) unveiled its own Netflix-type service in partnership with Sony Pictures Television and Warner Bros. Entertainment. (Digital News Asia) Source: CIMB Daybreak - 17 April 2015...
CB Industrial Product bags RM41.1m palm oil mill contract
April 17, 2015 10:54:00 am
CB Industrial Product Holding Bhd (CBIP) has secured two contracts valued at RM25.5m for its modipalm continuous sterilisation milling system from Indonesia’s PT Niagamas Gemilang. CBIP said on Thursday the contracts are collectively the 100th system order placed by its clients, which was the most significant milestone of its patented technology since its inception a decade ago. (StarBiz) Source: CIMB Daybreak - 17 April 2015...
Palm oil prices will likely trade at RM2,200 by end-June
April 17, 2015 10:51:00 am
Palm oil prices will likely trade at RM2,200 by end-June, leading analyst Thomas Mielke said on Thursday, and may rise to 2,300 ringgit by end-2015, partly supported by weaker output of rival oils. However, prices would continue to hold a fairly narrow range and were unlikely to break below 2,000 ringgit, Mielke, editor of Hamburg-based newsletter Oil World, said at an industry seminar in Malaysia. "That is the major message I wanted to give: don't panic," he said. (Reuters) Source: CIMB Daybreak - 17 April 2015...
Oil turns higher, rallies to 2015 high on Yemen conflict
April 17, 2015 10:51:00 am
Crude oil prices jumped to fresh 2015 peaks, turning higher on news that a tribal group made up of former Al Qaeda militants took control of a major southern oil terminal in Yemen. The terminal is one of the major hubs for the Hadramout region exporting an average of 120,000 to 140,000 barrels per day (bpd) of crude from fields in the area. Brent crude for June delivery was up $1.18 at $64.50/barrel yesterday rallying from a $62.00 low and reaching a 2015 peak for front-month Brent of $64.95. (StarBiz) Source: CIMB Daybreak - 17 April 2015...
GreenTech appoints Peter Chin as new chairman
April 17, 2015 10:50:00 am
Former Energy, green technology and Water Minister Tan Sri Peter Chin Fah Kui is now the new chairman of Malaysian Green Technology Corp (GreenTech Corp). GreenTech Corp said the appointment is for two years, effective from April 7 2015. Prior to this, Chin served as the special adviser to GreenTech. He will now play a decisive role in the growth of the company. Chin will continue to advise on the Green Malaysia Plan, Green Procurement, Electric Mobility and Sustainable Living. (BT) Source: CIMB Daybreak - 17 April 2015...
Kenanga Group partners association of certified fraud examiners
April 17, 2015 10:50:00 am
K&N Kenanga Holdings has partnered the Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organisation, to increase anti-fraud knowledge and certification among its employees. It was also intended to drive higher levels of corporate governance and more robust internal controls. “Kenanga takes its role in the fight against fraud seriously as this is one of the pivotal keys to firmly maintain the overall confidence of investors in the financial system,” said Group MD Datuk Chay Wai Leong. (BT, Bernama) Source: CIMB Daybreak - 17 April 2015...
Hektar REIT Expects To Maintain Performance
April 17, 2015 10:49:00 am
Hektar Asset Management Sdn Bhd expects it Hektar Real Estate Investment Trust (REIT) earnings to improve in 2015 following its asset enhancement initiative (AEI) the company undertook in 2014 to refurbish one of its malls, said its chairman and CEO Datuk Jaafar Abdul Hamid. Jaafar said Hektar REIT is currently almost done with its AEI on its Central Square in Sungai Petani, which has cost the company about RM23m and the refurbishment will be completed by the second quarter of this year. "This will definitely translate to a higher rental income and we hope to attract better tenants once the AEI has been completed," Jaafar told reporters at the press conference after its third AGM in Kuala Lumpur yesterday. (Malaysian Reserve) Source: CIMB Daybreak - 17 April 2015...
VS Industry's associate firm joins solar power plant industry
April 17, 2015 10:46:00 am
VS Industry Bhd’s Hong Kong-listed associate VS International Group Ltd (VSIG) is diversifying into the solar photovoltaic power plant business. The electronics manufacturing services provider told Bursa Malaysia on Thursday that VSIG was buying Zhuhai Deyuan Energy Conservation Technology Co Ltd for 20 million yuan (RM11.8m) and, as part of the acquisition deal, would have to inject a capital of 40m yuan (RM23.6m).Zhuhai Deyuan Energy is engaged in developing solar photovoltaic power plants and energy conservation technology. VSIG, which is 44% owned by VS Industry, told the Hong Kong stock exchange on the same date that the group had been operating under very challenging environment in its current business and was seeking to diversify its income and asset base. (StarBiz)Source: CIMB Daybreak - 17 April 2015...
Malakoff Corporation Bhd sets tight bookbuilding range on its IPO
April 17, 2015 10:44:00 am
Malakoff Corporation Bhd sets a tight bookbuilding range for its initial public offering, two people with direct knowledge of the process said, with solid support from domestic cornerstone investors. The top end of the range set on Thursday values the IPO at up to RM2.74bn (US$750m), the largest in Malaysia in almost three years. (Reuters) Source: CIMB Daybreak - 17 April 2015...
KPJ Healthcare issues RM800m Sukuk
April 17, 2015 10:43:00 am
KPJ Healthcare has issued RM800m Islamic MTNs under its proposed RM1.5bn programme. Its unit Point Zone (M) Sdn Bhd had made the first issuance of RM800m which would be used for Shariah-compliant purposes. They include to refinance and or partially refinance its existing outstanding facilities, including the bridging loan facility and to advance to the company to finance the working capital requirements of the KPJ group’s healthcare and healthcare related businesses. (StarBiz) Source: CIMB Daybreak - 17 April 2015...
Palm buyers delaying purchases for cheaper cargoes next month
April 17, 2015 10:42:00 am
Malaysia's move to scrap its crude palm oil export tax in May will likely prompt India and China, the biggest buyers of the edible oil, to delay purchases to next month to get cheaper cargoes, industry sources said yesterday. Malaysia's reduction of the export tax back to zero comes just as its biggest rival Indonesia, the top producer of the tropical oil, moves closer to laying on additional levies to its own palm exports to fund biodiesel subsidies and ambitious mandates rolled out earlier this year. (Reuters) Source: CIMB Daybreak - 17 April 2015...
Palm stocks to rise in H2 on strong output, poor biodiesel demand-analyst Fry
April 17, 2015 10:42:00 am
Stronger crude palm oil (CPO) output coupled with poor demand for biodiesel will drive up stocks of the tropical oil in the second half of the year, weighing on prices, leading industry analyst James Fry said. But as prices of palm - a biodiesel feedstock - continue to decline, that may narrow its premium over crude oil and, for a time, revive margins for blending biodiesel in the non-subsidised sector, Fry said. In March, Fry forecast prices would average RM2,260 a tonne in the first half of 2015 but warned the average could drop to more-than-six-year lows of RM1,770 later in the year if demand from the biodiesel sector did not pick up. (Reuters)Source: CIMB Daybreak - 17 April 2015...
MRCB has won RM1.25bn KVDT job
April 17, 2015 10:40:00 am
Malaysian Resources Corporation Bhd (MRCB) has won a RM1.25bn job for Phase 1 of the Klang Valley Double Track (KVDT) rehabilitation project. It is understood that MRCB will partner little-known BMIA Sdn Bhd to rehabilitate the 40km stretch from Rawang to Salak South in Sungai Besi. According to sources, the letter of award was given to the MRCB-DMIA joint-venture less than two weeks ago. Interestingly, MRCB had entered into a share-swap agreement with DMIA on April 1, where it will transfer to the latter its 100% equity in Lotus Terrain Sdn Bhd, which will undertake the construction work of the KVDT rehabilitation project. in exchange, DMIA will transfer its 30% stake in Country Annexe Sdn Bhd to MRCB. (BT) Source: CIMB Daybreak - 17 April 2015...
Moody's: RHB Bank to benefit from new capital injection and internal restructuring
April 17, 2015 10:33:00 am
The injection of new capital and internal restructuring of RHB Capital is seen as credit positive for the group’s banking arm, RHB Bank, which will benefit from the move, says Moody’s Investors Service. Last Monday, RHB Capital announced that it would issue new shares through a rights issue of up to RM2.5bn and inject the capital into its main operating entity, RHB Bank, which is rated at a stable A3/A3.“This plan is credit positive for RHB Bank because it will enhance the bank’s capital buffer and improve the bank’s ability to retain capital through the repayment of debt at the holding company level,” the rating agency said. Source: CIMB Daybreak - 17 April 2015...
KLCC Stapled Group eying 2 properties in heart of KL
April 17, 2015 10:30:00 am
KLCC Stapled Group, which comprises KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust, is looking to acquire two multi-billion ringgit assets from parent company, KLCC Holdings Sdn Bhd, over the next three to five years. The two properties are mixed development projects code-named Lot 185 and Lot 91 sprawled over 4.5m sq ft and 1.5m sq ft, respectively. "We are not only eyeing the project but have the first right of refusal on the said properties, as well as, any other development projects owned by KLCC Holdings," KLCC Stapled Group Chief Executive Officer Datuk Hashim Wahir said. (Malay Mail)Source: CIMB Daybreak - 17 April 2015...
51 local firms participate InvestKL 2015
April 17, 2015 10:28:00 am
Themed "Asean's Multinational Marketplace", Bursa Malaysia Bhd's annual flagship event Invest Malaysia Kuala Lumpur (IMKL) this year will see the participation of 51 local companies as well as 13 firms from the Asean region. Speaking at IMKL's pre-event media briefing here yesterday, Bursa Malaysia's director of securities market Ong Li Lee said the event will provide a platform for the participating companies to expose themselves to the global investors. She noted that a total of 50 foreign funds will be attending IMKL, to be held on April 23 and 24 at Mandarin Oriental KL. IMKL 2015 is co-organised and co-sponsored by CIMB Investment Bank. (Sun)Source: CIMB Daybreak - 17 April 2015...