Kimlun Corporation Bhd announced that its wholly-owned subsidiary, SPC Industries Sdn Bhd, has been awarded a supply contract in Singapore worth S$17.13 (about RM43 million).
The contract from SK Engineering & CONSTRUCTION [] is for the supply and delivery of precast concrete tunnel segment linings to the East-West Transmission Cable Tunnel Project EW2, Singapore.
The supply contract is expected to spread over a period of 33 months and it is expected to contribute to the earnings and net asset to Kumlun group in the financial years during the supply period, the company said.
TA ENTERPRISE BHD [] rose 7.5 sen or 13% to 64.5 sen or more than a year high following market speculation it is selling its stockbroking business and possibly giving out a special dividend of 40 sen per share to shareholders.
The company has yet to respond to theedgemalaysia.com’s query on the speculation.
But meanwhile, its improved first quarter results could also be catalyst for the share rise. TA posted a net profit of RM33.9 million for its first quarter to end-April 2013, up from RM20.5 million a year ago. Its net asset per share was RM1.72.
Hwang DBS Vickers Research has maintained a 'buy' call on TA with a target price of RM1.
TA’s share price could fall if the stock succumbs to profit-taking or if the company denies the speculations. But if it confirms the rumour, there could be further climb in price.
In the past 52 weeks, TA stock had traded between 49 sen and 62.5 sen.
KLCC PROPERTY HOLDINGS BHD [] is eyeing 6-8% growth in operating profit for the current financial year, chief executive officer Datuk Hashim Wahir said.
He said the revenue growth would be driven by the restructuring in its Real Estate Investment Trust (REIT) and higher contribution from its office segment, Bernama reported.
"We expect revenue contribution from the office segment to exceed 50% by year-end from the current 44%.
"This follows the completion of Menara 3 Petronas and the acquisition of a 49.5% share in Petronas Twin Tower from KLCC Holdings Sdn Bhd," Hashim told reporters after the company's annual general meeting today.
Censof Holdings Bhd, which chalked up a revenue of RM44.8 million last year, expects to increase revenue by 20% for the financial year ending Dec 31, 2013, driven by its ongoing and existing projects.
Group Managing Director Datuk Samsul Husin said the company had secured multiple projects from the Ministry of Finance and the Social Security Organisation worth RM22.5 million and RM33.08 million respectively.
"We are confident of achieving a better performance this year based on market developments and business trends," he told reporters after the company's annual general meeting here today.
Apart from these projects, the group has also clinched a contract from the Inland Revenue Board worth a total of RM5.6 million for the maintenance of SAGA Century and its related hardware.
Samsul said the company is always on the lookout for joint ventures and acquisitions. This year its subsidiary Century Software Sdn Bhd is exploring opportunities in the United Arab Emirates, Middle East and Africa.
Felda Global Ventures Holdings Bhd (FGV) said it is cautiously optimistic on outlook in the second half of 2013, and expects crude palm oil (CPO) prices to hover between RM2,400 and RM2,800 per tonne during the period.
FGV Group president Tan Sri Sabri Ahmad said the good demand for the commodity for the upcoming Ramadan would boost the CPO market.
FGV, the third largest oil palm PLANTATION [] operator in the world based on planted area, has about 350,000 hectares of oil palm plantation estates in Malaysia and produced 5.2 million metric tonnes of fresh fruit bunches in 2012.
The group has operations in 10 countries across four continents and is principally engaged in three main business segments, namely, plantations, downstream and sugar business.
"We spend about RM300 million a year for replanting. The average age of our palm trees is about 16 to 17 years old," Sabri said at a media briefing after FGV's first annual general meeting (AGM) as a public listed company.
SAPURA INDUSTRIAL BHD [] said its net profit for the first quarter to end-April 2013 fell 64% year-on-year to RM2.1 million, from RM5.8 million a year ago.
This came on the back of a fall in its revenue, which stood at RM60.3 million in the first quarter of the current financial year -- down from RM65.6 million a year ago.
In its explanatory notes to Bursa Malaysia, Sapura Industrial said net profit was lower due to “low domestic volume and product mix”.
On outlook, it said market conditions will continue to be challenging for the automotive sector in view of the uncertain global economic outlook.
In a separate announcement, Sapura Industrial said its controlling shareholder, 81-year old Tan Sri Shamsuddin bin Abdul Kadir, has been appointed the chairman and director of the company. He holds 46.8% stake in the company.
Written by Ho Wah Foon of theedgemalaysia.com
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