Malaysia Airports Holdings Bhd (MAHB) may grab analysts' interest after klia2, the new terminal for low-cost carriers, obtained the Certificate of Completion and Compliance (CCC) from UEMC-Bina Puri JV, the main contractors.
The issuance of the CCC not only certifies the safety of the project but is also a go-ahead for all relevant authorities to occupy the terminal building. This also means airlines can start operating from the airport.
"We obtained the CCC on April 17," MAHB Senior General Manager (Operations Services) Datuk Azmi Murad told Bernama on Friday.
MAHB conducted a mock run of the Operational Readiness and Airport Transfer (ORAT), a trial on functionality and operational aspects, in early February.The final ORAT will take place on April 30.
Flight operations at klia2 will begin on May 2 and the current low-cost carrier terminal (LCCT) is scheduled to close on May 9. However, many analysts believed there would be a delay.
Malindo Air, Cebu Pacific Air, Tiger Airways Singapore, Lion Air, Mandala Airlines and AirAsia have announced they will move to klia2 by May 9.
Datasonic Group Bhd has clinched two contracts with a combined value of RM292.2 million from the Home Ministry. The contracts involve the supply of 14 million Malaysian identity cards or MyKad to the government.
The first contract, valued at RM72 million, will see Datasonic supplying four million new raw MyKad with 100% polycarbonate material and new security features to the national registration department (NRD). The six-month contract which began on January 1 this year expires on June 30.
The second contract, which is worth RM220.2 million, involves the supply of 10 million similar cards, and an equal number (10 million) of consumables to the NRD. The two-year contract starts from July 1, 2014 and ends on June 30, 2016.
"The contracts are expected to contribute positively towards the future earnings and net assets per share of Datasonic group for the financial period ending 31 March 2015 and the financial periods thereafter."
Datasonic share price had risen sharply ahead of this announcement.
Kian Joo Can Factory Bhd (KJFC) announced that its executive director Datuk Anthony See Teow Guan had purchased KJFC shares on the open market on April 14, 15 and 16, totalling 376,000 units.
Yesterday, KJCF announced that Datuk See had changed his mind and was against the proposed disposal of KJFC to Aspire Insight “in light of the letter of interest that was received from Toyota Tsusho Corporation (TTC)”
TTC’s offer is at a tentative maximum price of RM3.74 per share, versus Aspire Insight’s RM3.30 per share. The EGM to decide on Aspire Insight’s offer falls on May 23.
At market close today, KJFC’s share price rose 10 sen or 3% to end at RM3.39.
CIMB Group Holdings Bhd's Thailand unit CIMB Thai Bank PCL's net profit rose 41% to 440.7 million baht (RM44 million) in the first quarter ended March 31, 2014. This compares to 313.1 million baht a year earlier.
CIMB Group said CIMB Thai's interest income climbed to 3.35 billion baht from 2.8 billion baht.
CIMB Thai President and CEO Subhak Siwaraksa said "the increase in income was mainly attributed to a growth in other income, net interest income and net fee and service income of 106.0%, 27.1%, and 23.1% respectively. Operating expenses grew at 21.4% whilst there was a 120.2% year-on-year increase in provisions."
UEM Sunrise Bhd is planning on expanding its property development activities to Indonesia, said its Chief Marketing Officer Siti Mariam Mohd Desa.
According to Siti, the plan is part of the property developer's diversification, stating that the company cannot depend on the Malaysian market for future growth.
Apart from Malaysia, UEM Sunrise has existing property development projects in Vancouver, Canada and Melbourne, Australia.
C.I Holdings Bhd has received its shareholders' nod for the acquisition of Continental Resources Sdn Bhd (CRSB), said group Managing Director Datuk Johari Abdul Ghani after the company's Extraordinary General Meeting held today.
"The shareholders have waited for almost a year to see when CI Holdings will acquire a new business. Today, we have concluded the deal and with the acquisition of CRSB, we are looking at expanding our business capacity," he said.
Johari also said CRSB, which is mainly involved in packaging and blending of edible oil products, has recorded a turnover of RM200 million and net profit of RM6 million.
"We see the acquisition as an opportunity to expand our business. Currently, global consumption of edible oils stood at about 185 million metric tonnes, while for local consumption, it is at 2.5 million metric tonnes," he added. CRSB's capacity of producing edible oil is 120,000 metric tonnes.
He noted the company was in the midst of building a new plant to double CRSB's capacity in the production of edible oil.
"We are investing a total of RM30 million for land, building and machinery for the new plant, which is situated next to our existing plant in Port Klang. It will be completed in a year," he added.
The new plant would double the current capacity of CRSB, said Johari, adding that the company would also maximise the capacity of its existing plant, from 85 per cent or 120,000 metric tonnes currently to full production capacity, estimated at about 300,000 metric tonnes.
On its future prospect, he said the company was considering to tap into a similar line of business such as peanut oil, corn oil, canola oil, soya bean oil and coconut oil as part of its third phase expansion.
Engtex Group Bhd is seen as a frontrunner for the RM200 million pipe contract following the award of the Langat 2 water treatment plant contract to the joint venture (JV) entity of Salcon Bhd, MMC Corp Bhd and Ahmad Zaki Resources Bhd, according to CIMB Investment Bank.
Yesterday, the JV received the letter of acceptance from Pengurusan Aset Air Bhd for the RM993.9 million Langat 2 water treatment plant and reticulation contract.
Following this, CIMB said the JV company might put out a pipe contracts tender estimated at 20% (RM200 million) of the project value. This is seen happening within the next three months.
“Engtex should command a good chance of winning,” CIMB analyst Sharizan Rosely wrote in a note. Engtex is the only listed firm, which has been a supplier to all three winning contractors.
Formosa Prosonic Industries Bhd’s first quarter (1QFY14) net profit fell 39% y-o-y to RM1.1 million from RM1.8 million.
Revenue declined by 6% to RM98.4 million during the quarter, from RM105.0 million in the previous year’s same quarter.
Going forward, the group expects the remainder of its financial year to be challenging.
Written by Ho Wah Foon of theedgemalaysia.com
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