Tuesday, September 6, 2011

MRCB

Tuesday, August 23, 2011



Monday, August 22, 2011

MRCB 22/8/11



Tuesday, August 2, 2011

Property bubble burst unlikely in Malaysia

A property bubble burst is unlikely to happen in the Asia Pacific, including Malaysia, as there are no signs to indicate such a trend in the next two years, says AmInvestment Bank Group.

Director for Retail Funds Ng Chze How said real estate investment trusts (REITS) would also not experience a burst including those acquired by the group.

"I don't see a burst or a crash in the property market. "You have high wages, ample liquidity, small percentage of non-performing loans and these plus steps taken by the government to prevent the economy from
overheating, augur well for the property market.

"I don't see a property burst (happening) in the next six months, one year or two years down the line," he told reporters at the launch of Malaysia's first


Asia Pacific REITs fund, AmAsia Pacific REITs, here today.

He said with these factors in place coupled with an economic recovery, there
would be more upside in the market. AmAsia Pacific REITs invests in a diversified portfolio of REITs listed in the Asia Pacific region.

Ng was optimistic the REITS selected by the group would see high occupancy
rate and increasing rental.

"Selected Asian properties have yet to reach their previous peak, as such,
there is room for potential growth," he said, adding that properties were seen
as a good hedge during the current inflationary period. -- Bernama



Saturday, July 16, 2011

Bina Puri keen to build the 'last mile' Read more: Bina Puri keen to build the 'last mile'

Kuala Lumpur: Bina Puri Holdings Bhd plans to propose building the last section of the Kuala Lumpur Outer Ring Road (KLORR) project for between RM50 million and RM60 million, says a top executive of the company.


The group is preparing to submit a proposal to the Economic Planning Unit (EPU) soon and it will include a plan on how it will complete the last section of KLORR, stretching from Gombak to Karak, its executive director Matthew Tee told Business Times.

"We would be keen to submit our papers for consideration. As we have just completed the Kuala Lumpur-Kuala Selangor Expressway (Latar), it is a logical progression to go for the last piece of the puzzle," he said.

Tee said in building Latar, Bina Puri has established its capability and strengths, enough for the government to consider it for the job.

"With the Latar experience, we have proven ourselves as a capable and highly reliable road builder, therefore a better choice than others.


"We would like to think that we would be given the opportunity to do the stretch between Gombak and Karak," he said.

The 33km Latar forms part of KLORR and connects Ijok near Kuala Selangor to Templer's Park near Rawang.

Latar was built by KL-Kuala Selangor Expressway Bhd (KLS), a 50:50 joint venture between Bina Puri and privately-held company Arena Irama Sdn Bhd, under a build-operate-transfer system for RM958 million.

KLS holds a 40-year concession, starting 2008, to collect tolls on the road which started on June 23.

Latar completed 75 per cent of KLORR, an orbital ring road within the Greater Kuala Lumpur area, which serves as an alternative route to the existing Middle Ring Road 2 already reaching its capacity.

Ahmad Zaki Resources Bhd was given a concession in 2008 to construct a stretch of KLORR from Karak to Hulu Langat for RM300 million.

Sunday, July 10, 2011

First MRT line likely to cost RM20bil

KUALA LUMPUR: Although the actual cost of the country’s first mass rapid transit (MRT) system will be disclosed in September due to a 50% reduction in land acquisition and other tweaks to the initial alignment, estimates have put the price tag for the first of three lines at around RM20bil.

Land Public Transport Commission (SPAD) CEO Mohd Nur Kamal said more time was needed to finalise the cost as the revised alignment was only recently approved given the changes to accommodate public feedback.

“We have done a lot of changes as we are responsive to public feedback and are looking at August or September to nail down the actual cost,” he told reporters after the launching of the MRT, dubbed My Rapid Transit, which was officiated by Prime Minister Datuk Seri Najib Tun Razak yesterday.


The launch revealed the final alignment of the 51km Sungai Buloh-Kajang MRT line, of which 9.5km will be underground. The line will have 31 stations.

The final alignment not only reduced land acquisition cost, has led to better integration with existing rail network and reduced the number of stations but has become more cost effective than the initial alignment.

A SPAD official said the new alignment would run across 70% of road reserve land. The remaining 30% of the line will traverse private land which will be acquired to build the tracks.

“The tweaking of the alignment concentrates mainly on Taman Tun Dr Ismail, Bukit Bintang, Cheras and Kajang,” said the official.

An analyst familiar with the matter estimated the cost of the first MRT line could be around RM20bil. “And the cost of the underground works may be RM7bil to RM8bil,” he said.

The MRT’s project delivery partner (PDP), MMC-Gamuda Joint Venture Sdn Bhd, in which Gamuda Bhd and MMC Corp Bhd hold equal shareholdings, will be responsible for managing the project and its cost.

The analyst that was present at the event was also surprised that the remaining two lines were still under study.

The initial joint-proposal by MMC-Gamuda called for three MRT lines, including one circle line to be built at a then price tag of RM36.6bil.

“We need to see the whole picture and integration. But, the cost of the three lines that was quoted in 2009, could have ballooned up to a total of RM50bil by now, considering the increase in construction raw material prices,” he said.

It was reported the Government might plan to sell as much as RM30bil Islamic bonds under a programme to help finance the MRT. A special financing vehicle would be formed by the Government to raise the funds which would be used for the country’s biggest infrastructure project to date.

Meanwhile, Najib foresaw that the MRT would improve existing real estate value and should be a catalyst to new property development adjacent to the MRT line.

“It is estimated that new real estate development along the line could reach as much as RM15bil to be completed in a decade.

“Additionally, gross national income (GNI) of about RM3bil is expected to be churned out based on the 20% increase in gross real estate value in terms of commercial and residential property in the 1.2 million sq ft of area in the radius of 0.5km to 1km from the MRT line in 10 years time,” he said in his speech at the launching.

Residential and commercial property earmarked for development along the MRT lines are located in Cochrane, Rubber Research Institute land in Sungai Buloh, Menara Warisan as well as Bandar Malaysia Sg Besi.

Also, Najib added that the GNI derived from the construction works of the MRT was expected to be RM3bil to RM4bil annually starting from this year to 2020.

By SHARIDAN M.ALI


Wednesday, July 6, 2011

马来西亚房价其实并不贵,现在才开始有贵起来的苗头。

在欧洲很多国家,由于有城市历史建筑保护法令,所以旧区是不能起新建筑物的。所有的屋子,都必须改造。所以,很多法国,德国,荷兰这些首都地区的房子,外 面是石头和砖头,里面楼板全部是木,踩在上面叽叽声的。而且浴室防水一般做得暴差。随便一层楼这样的房子就卖300千-400千euro,上下6层,基本 就2.4million euro了。在台北,600-700sf的condo,马币就卖过百万。其实这种condo规格,也就等于这里的flat,不过是新版的,外观由于台湾是 地震和飓风区,所以都是shearwall structure,简简单单,实实在在,和本地的flat外观比稍好,至少有个露台,除了下面有景观,基本无差别。要知道台湾人的薪水平均只比本地人高 50%。
至于在美国,其实也好不到那里。这就是为什么欧美设计师的设计作品搞很多attice,搞很多loft,或者很多仓库改造的原因。这是旧区昂贵房价下的城市改造产品。

kl其实充斥着不少价格低廉,有待改造的建筑物。如果放到欧美设计师那里,就是改造了,基本上市场不会说什么卖不出,或者格局限制。kl也有这个趋势。很多高价卖旧区屋子,然后改造。本地嘛,就是个跟随外国潮流的市场。

很多人错误的以个人的负担能力和意愿来揣测本地房价的走势。这是不对的。
就好像目前kl适婚女性70%未嫁那样,我们不能说,因为这样,马拉西亚人就要灭绝了。不是这么一回事。

世界变了。很多东西都不同了。以前女孩子只要嫁得出去就好。以前的大公司只要请到人开工就好。以前的人只要读到大学就很好。以前的人有工开就好。以前,屋子只要能住就好,卖得出就好。
现在,女孩子认为不能因为婚姻降低生活品质。现在的公司,不只要大学毕业,还要3-5年工作经验,最好特定知名企业浸过。现在不只要看读到什么成绩,还要 看出自哪一家recognized university。现在的人,不只要选优雅的工作环境,最好还要固定花红。现在的屋子,新起的没有说不种树。不做景观的。现在的人,一个中古屋卖不 出,就不要卖。不管多么差,多么远,多么烂,只有一个价格,要买就买,不买,继续挂,三个月后提价。

时代变了。

马来西亚在转型。工业国是做不到,信息化大国也做不到,马来西亚会变成一个冰岛那样的国家。非常高的金融杠杆,非常高的消费水准,非常高的人均收入。
很多不懂金融的人说,房价高,有金融风险。其实,就是因为要房价高,那么金融企业的规模才能扩张!那么在retained earnings高情况下,才能对外大肆并购。所以人民负债越多,等于金融产业越发达。没有人欠钱,哪里来金融产业。而政府是要把马来西亚打造成金融强国 的。

由于本地的工业开始瘫痪,现在的步伐是马币不断升值。债务规模不断扩张,物价不断上升。
10年后,或者会看到本地社会前20%人的生活形态是大学去外国参加夏令营,参观国际赛事和户外活动。到处去品尝michelin美食。穿着是换月,不是换季换年的。大部分人平常是坐公车和地铁,偶尔驾贵车。
kl一栋双层排屋400-600万马币。一碗面15-20块。人均年收入72000,美元兑马币1:2。

如果一碗面不升到15-20块,双层排屋不升到400-600万块,面粉商员工,面档小贩,原有屋主,这么多人,哪里来钱扩充企业,自身都不能达到年收入72000,又怎样给一个普通员工72000的年薪呢?

这是个很现实的问题。不管白领的薪水去到多少,小贩档价格不升,人均收入就被拉住后腿,不能升了。
最后,说一句可能会被人群殴的。。。。结论
如果日本的房价崩溃后不是本地的10多倍,物价不是本地的5倍。而是由于它伟大的政府高明的政策导致房价物价比本地还要便宜的话,那么日本一定有很多低素 质的非法移民。城市会完全塞到不能动。因为人人都买得起车,也付得起停车费。路上还会有很多流浪汉。。。跑去日本行乞。。因为乞讨收入高。。而物价低,性 价比高!

http://cforum.cari.com.my/viewthread.php?tid=2399386

Saturday, June 18, 2011


KUALA LUMPUR: TOP GLOVE CORPORATION BHD [] net profit for the third quarter ended May 31, 2011 fell 60.3% to RM25.60 million from RM64.48 million a year earlier due mainly to higher latex price and weakening US dollar.

Revenue for the quarter dropped 3.7% to RM535.36 million from RM555.85 million in 2010. Earnings per share was 4.14 sen.

The glove maker declared a first single tier net interim dividend of 5 sen, payable on July 21, 2011.

For the nine months ended May 31, Top Glove’s net profit fell to RM87.06 million from RM200.22 million a year earlier, while revenue was also lower at RM1.51 billion compared to RM1.54 billion in 2010.

In a statement Friday, June 17, Top Glove chairman Tan Sri Lim Wee Chai said the result for 3Q ended May 31, 2010 was an anomaly as the influenza A (H1N1) virus outbreak caused a surge in demand, and latex prices and the US dollar exchange rate were also more favourable then.

He said average latex price had increased by 39% year-on-year in 3Q ended May 31, 2011 while the US dollar had weakened against the ringgit 7.4%.

Lim said the company’s average selling prices (ASPs) were regularly revised to reflect the increase in costs.

However, due to an oversupply situation in the glove industry, it was difficult for Top Glove to pass on the rise in costs to its customers in full, he said.

“Up until now in this fiscal year, we have only been able to pass on around 70% to 80 % of the increase. Furthermore, there is a time lag in the cost pass-through that we have to contend with.

“Latex price has declined about 14% in the past one month from its all-time high of RM10.99 on 11 April 2011 to around RM9.40 in recent weeks. As latex price stabilised, we expect customers who had adhered to minimum inventory holding before, to resume buying,” he said.

Lim said that although business conditions had been challenging, he was confident that the company’s strong balance sheet and cash flow position would allow it to make the necessary investments and improvements to stay competitive and counter the headwinds.

“Besides, Top Glove has been rebalancing its product mix by producing more nitrile gloves to avoid over reliance on natural rubber gloves.

“However since nitrile is also dependent on crude oil, which is depleting and competing with other types of usage, our new production lines have been built to be inter-switchable between producing natural rubber gloves and nitrile gloves,” he said.

Lim said Top Glove’s new factory in Klang, the F21, had 16 lines dedicated to produce nitrile gloves and was already up and running.

Two additional new factories, F22 and F23, which are slated to be completed by October 2011 and March 2012 respectively, will also be installed with nitrile glove production lines, he said, adding that the expansion would increase Top Glove’s capacity from 35.25 billion pieces per annum to 41.55 billion pieces.

Lim said the company has also been investing more heavily in R&D in order to continue innovating new products, to further enhance its product quality and to improve productivity and cost efficiency.

“Top Glove believed the glove industry still remains resilient, for gloves are a necessity especially in the medical and healthcare industry.

“The increased awareness of healthcare and hygiene in developing countries also helps sustain the demand for rubber gloves,” he said.

Written by Surin Murugiah of theedgemalaysia.com


Tuesday, May 31, 2011

MMC Corp 1Q net profit up 29.5% to RM43.04m




KUALA LUMPUR: MMC CORPORATION BHD [] net profit for the first quarter ended March 31, 2011 rose 29.5% to RM43.04 million from RM33.23 million a year earlier, due mainly to higher contributions from most of its divisions.

Revenue for the quarter increased to RM2.23 billion from RM2.06 billion in 2010. Earnings per share was 1.41 sen while net assets per share was RM2.19.

Reviewing its performance on Tuesday, May 31, MMC Corp said its energy and utilities division’s profit rose by 39.1% or RM85.1 million due to higher volume of gas sold, lower other operating expenses, improved associates performance and lower finance cost following repayment of loan during the period.

The transport and logistics division’s higher earnings were higher driven by the increase in throughput volume, it said.

Meanwhile, the engineering and CONSTRUCTION [] division earnings were higher mainly due to the absence of profit revisions for the double track project despite the project losses of Zelan Berhad, an associate company of the group, it said.

However, its corporate division’s contribution was lower was due to no gain on disposal of investment recorded as in the corresponding financial period, it said.

On its prospects, MMC Corp said that in line with the improvement in its businesses, the company expects its current year results to be better than that for the year ended Dec 31, 2010.

Written by Surin Murugiah of theedgemalaysia.com

Tuesday, May 17, 2011

MMC plans to list Gas Malaysia, Malakoff, Johor Port

KUALA LUMPUR: MMC CORPORATION BHD [] plans to list its subsidiaries -- Gas Malaysia Sdn Bhd and Malakoff Bhd -- and also its unit Johor Port.

MMC group managing director Datuk Hasni Harun said on Monday, May 16 the first company to be likely listed would be its 51% owned Gas Malaysia.

He said the three companies were ready for listing but it would hinge on factors such as timing and the growth of the respective company.

Hasni said its 51% owned independent power producer Malakoff was going through price discovery process at the moment. It was previously listed and then taken private.

According to Hasni, Malakoff is worth about RM7 billion currently while Gas Malaysia and Johor Port are worth RM5 billion and RM1.5 billion respectively.

However, he was non-committal when asked if the listing would take place this year.

He denied Gas Malaysia had obtained approval to list from the Securities Commission (SC) as reported by a newspaper on Monday.

“It is not true. In order for us to list Gas Malaysia, we have to get approval from our partners namely PETRONAS GAS BHD [] and Tokyo Mitsui Gas Holding. We have yet to get shareholders approval,” he said adding that MMC has yet to submit any application to the SC.

On whether there are discussions with Gas Malaysia’s other partners on the possibility of listing, Hasni said there are discussions at board level but is yet to be brought to the shareholders.

On MMC’s bid for the extension of the 1,000 MW coal-fired generation capacity in Tanjung Bin, Johor, Hasni said the company was informed that its bid is technically and commercially competitive.

He said MMC and Malakoff have its financing in place already should it win the bid.

Hasni also said that MMC would bid for the tunnelling work for the mass rapid transit (MRT) project, which is slated to begin in July, through a Swiss challenge.

He said at least 10 international companies were likely to bid for the tunnelling based on their experience in casting limestone and the diameter of the tunnel.

On its port business, Hasni said Johor Port and Port of Tanjung Pelepas (PTP) constituted 40% of the country’s throughput.

“Based on our growth that we have seen this year, we are quite confident that we will be hitting our maximum capacity of PTP of 8.5 million TEUs soon,” he said, adding that an expansion plan is in order.

He said there are currently 12 berths in PTP and the expansion will include the CONSTRUCTION [] of an additional two berths.

“The land has already been reclaimed. It will be the equipment cost and wharf which we need to construct and will cost us about RM1 billion,” said Hasni.

Malakoff and PTP expected RM150 million and RM170 million in capital expenditure this year.

Written by Sharon Tan of theedgemalaysia.com


Thursday, May 5, 2011

CIMB Research has Buy on Mudajaya at RM4.51



KUALA LUMPUR: CIMB Equities Research has a Buy on MUDAJAYA GROUP BHD [] at RM4.51 where it is trading at FY12 price-to-earnings of 5.8 times and a price-to-book value of 2.6 times.

It said on Thursday, May 5 the stock appears to be on its last leg of a huge triangle consolidation pattern. Prices are also now testing the 200-day SMA at RM4.56. As long as prices remain above the RM4.42 levels, the triangle pattern holds.

CIMB Research said the technical indicators are still in consolidaiton mode. MACD is still trickling lower while RSI is also on an easing trend.

“A breakout above RM4.78, its 30-day SMA would likely signal that the bulls are back in business. For now, aggressive traders may opt to buy on weakness with a stop placed below RM4.40. Upside resistance is seen around RM5.05, the triangle resistance and RM5.44,” it said.

Written by theedgemalaysia.com


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