Tuesday, December 28, 2010

JAKS wins RM201m construction contract

JAKS Resources Bhd wholly-owned subsidiary, JAKS Sdn Bhd, has secured a construction contract worth RM201 million from MNH Global Assets Management Sdn Bhd.

JAKS Resources in a filing to Bursa Malaysia today said the contract is for the earthworks, retaining wall, piling works and sub-sector works of the proposed commercial development at Jalan PJU 1A/4, Ara Damansara, Petaling Jaya, Selangor.

The work is expected to be completed by March 2012 and is expected to improve the future earnings of the JAKS Group.--BERNAMA

Wednesday, December 22, 2010

PLUS,5052

(吉隆坡22日讯)任何对南北大道(PLUS,5052,主要板贸易)有意的买家,需在明年1月10日前交付5000万令吉现金的订金,分析员一致叫好,赞赏此举有助让浑水摸鱼的人士知难而退。

至于明天(23日)将展延的股东特别大会,预计无法在短期内召开。

侨丰投资研究分析员吴杰敏指出,南北大道董事局拟定的最新献购条件确是好事,有助解清小股东心中的疑团。

他告诉《中国报》,特别是征收5000万令吉现金、但献购遭拒后可退还的订金,更有效抑制存心搅局的有心人士浑水摸鱼。

“否则,任何来路不明的单位都可竞相献购,股价必然水涨船高,最后却宣称融资不足以致计划告吹,但恐怕早已从直线攀扬的股价大赚一笔。”

对Jelas Ulung有所保留

问到这是否马股企业并购的惯例时,他坦言,自己也是第一次听闻。

“市场对Jelas Ulung的背景非常陌生,但必须在23日前提供所有股东和董事、相关人士等的资料,小股东到时会较容易比较。”

大马投资研究分析报告也认同说,对Jelas Ulung的献议始终有所保留,毕竟相关细节并不完整。

“媒体报导Jelas Ulung需筹资高达380亿令吉,其中330亿令吉源自中国银行,余下50亿令吉则是股票融资。”

UEM集团董事经理兼总执行长拿督依查汀另回覆《中国报》询问强调,如今有待南北大道的独立董事展开所有评估工作,所以目前无法置评。

“我们预计,南北大道的股东特别大会相信不能在短期召开,但至少所有事情无需赶在今年底完成,或许仍是件好事。

Friday, December 3, 2010

Two projects lift Glomac Q2 net profit

KUALA LUMPUR: Glomac Bhd posted a higher net profit of RM15.9mil for the second quarter ended Oct 31 against RM9.3mil a year earlier, mainly due to contributions from on-going progress completion from Glomac Tower and Glomac Cyberjaya.

Its pre-tax profit for the period almost doubled to RM32mil from RM16.3mil previously. Revenue for the period was 86.3% higher at RM140.9mil versus RM75.6mil a year ago.

For the six-month period ended Oct 31, Glomac posted a net profit of RM31.4mil on revenue of RM267.2mil.

Glomac said its unbilled sales as at the end of October remained high at RM572mil, and this remained one of the key earnings growth drivers for the group going forward.

We are confident that our sales momentum can be sustained. Glomac is well positioned, having more than RM2.5bil worth of development projects for launch, group executive chairman, Tan Sri F.D. Mansor said in a statement.

Our balance sheet is healthy, giving us the capacity to further seek out landbank acquisition opportunities, he said.

Friday, November 26, 2010

Muhibbah sees profit rise to RM21m in Q3 Read more: Muhibbah sees profit rise to RM21m in Q3


Muhibbah Engineering (M) Bhd posted a higher pre-tax profit of RM21.3 million for its third quarter ended Sept 30,2010 compared to RM5 million in the previous corresponding quarter.

Despite an increase in profit, revenue fell to RM289.13 million from the RM610.94 million recorded previously. In a filing to Bursa Malaysia today, the group said its shipyard and cranes division continues to be the main earnings contributor to the group.

It currently has a total outstanding secured order book of RM2.78 billion which can last until 2013.

For its nine-month period ended Sept 30, 2010, it achieved a lower pre-tax profit of RM49.57 million, compared to RM53.01 million recorded previously.
Revenue declined to RM1.162 billion from RM1.572 billion previously.

The group expects to achieve a satisfactory performance for its current fiscal year on the back of an improving sentiment in the global oil and gas industries.-- Bernama

Tuesday, November 23, 2010

Landed property prices to rise further

Property prices will continue with the uptrend despite speculation of a bubble building up in the property market, said SP Setia Deputy President and Chief Operating Officer, Datuk Voon Tin Yow.

"The market is still very strong. In terms of the uptrend in landed property prices, it is just a matter of catching up, with the higher income individuals are receiving, and other factors related to society," he added, after speaking as a panelist at the launch of the Bursa Malaysia Business Sustainability Programme today.

He added the uptrend seen is due to the supply shortage in landed properties and is an adjustment, rather than a bubble.

"If we analyse the price of a RM1 million landed property, it would be very expensive. But if we analysed in terms of built-up area, it would be worth the price.


"Of course, the uptrend, cannot go on for the next 10 years at this rate," he quipped.

He added the increase in prices are mostly in landed properties, but not strata title developments.

"The trend will continue for sometime but in the foreseeable future, there would not be any bubble forming in the property market," Voon said. - Bernama

Read more: 'Landed property prices to rise further' http://www.btimes.com.my/Current_News/BTIMES/articles/20101123165445/Article/index_html#ixzz167CX7EcW

Thursday, November 18, 2010

IOI Corp 1Q net profit up RM19.7 million

PETALING JAYA: IOI Corp Bhd saw its first quarter net profit increase by 4.13% to RM498.13 million from a year ago while pre-tax profit was 6% higher at RM661.7 million due to higher profits from its plantation unit and higher unrealised translation gain on foreign currency denominated borrowings.

The company told Bursa Malaysia on Thursday that it expects satisfactory performance for its present fiscal year due to strong crude palm oil (CPO) prices and a resilient property market.

For the three-month period ended September 30 2010, the plantation segment recorded a 38% gain in operating profit to RM345.3million from a year ago due to higher CPO prices realised and a marginal increase in fresh fruit bunches production.

Average CPO price realised for the first quarter was RM2,598/MT compared to RM2,294/MT from the previous corresponding period.

IOI Corp's first quarter revenue grew by 7.4% to RM3.52 billion.

Sunday, November 7, 2010

Most Malaysians cannot afford the high price of property

In Kuala Lumpur, land prices have appreciated even more sharply and the recent sale of a piece of land for over RM7,000 per sq ft has raised alarm among some consumer groups and industry players.

They worry that the high price transacted for the land will be used as the bargaining power for other land owners to push their land prices upwards in the surrounding areas.

This will inevitably be an unhealthy prelude to an overheating in the property market as land is the basic commodity in a property development process. When the price paid for a piece of land escalates way beyond the market norm or the last transacted price, it has actually moved ahead of market fundamentals.

The question is who then will have to bear the high cost at the end of the day. Certainly it will not be the developers as they will factor into their total project costing and recoup the cost by pricing the property they build higher.

And if the property is not for sale but for leasing, the rental rates can also be expected to be higher. Although property buyers are not directly or immediately affected by the high land cost, they will also have to share part of the burden when the prices of goods and services are fixed higher (as the business operators who rent the space will factor the high rent into their pricing.)

The Government’s plan to redevelop the 160ha Sungei Besi airport and the 1,320ha Rubber Research Institute land in Sungei Buloh should help to ease the land-scarcity problem.

The initiative should be accorded a top priority and, if possible, a dedicated agency is set up to oversee the whole planning and development process for these large parcels of land, taking into account the real needs of the people.

This will ensure better integration of public transport services and other infrastructure, housing and other commercial property needs that are more long-term and sustainable.

Given the huge need for more affordable housing in the Klang Valley, especially homes priced between RM200,000 and RM350,000, this will be the golden opportunity to plan for such housing projects. Hopefully at least 30% of the land for housing development will be allocated to affordable housing for all eligible Malaysians.

It is indisputable that real estate is an important economic sector, accounting for 50% of the country’s wealth. But the cap on the sector’s growth could be the relatively lower earning and purchasing power of Malaysians compared with those in other high income countries. For the industry to leapfrog to another level of growth, the people’s purchasing power has to grow faster or at least in tandem with the rising property prices as we will need investors who can afford to pay for the high-end properties that are to be built.

The Government’s iniatitives to turn Malaysia into a high income economy will create the platform for the people to earn higher per capital income to support their higher purchasing power.

Expanding the pool of buyers who have the means to absorb the high-end property that are being churned out by developers now will hopefully create a more sustainable property market – one where demand matches supply.

THE STAR

Saturday, October 23, 2010

Karambunai SPV set up


THE controlling shareholder of Karambunai Corp Bhd (KCB), together with a Beijing-based contractor, has set up a Special Purpose Vehicle (SPV) to assess the feasibility of developing an integrated eco-nature resort in Karambunai.

With local and overseas consultants, including its financial consultant China Construction Bank International, the SPV has presented proposals to the government to assess the relevance of developing Karambunai to spearhead tourism growth in the Eastern Corridor.

To date, KCB holds no equity in the SPV, nor has it received any official notification from the government or signed any agreement with the SPV to develop Karambunai, the company noted to Bursa Malaysia yesterday.

Read more: Karambunai SPV set up http://www.btimes.com.my/Current_News/BTIMES/articles/20101023001717/Article/index_html#ixzz139RnkThd

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