The strong flow of positive corporate news will underpin the market sentiment on Wednesday, Aug 17 with stocks like MMC Corp and Sindora seeing trading interest.
Fresh contracts awards would also generate excitement in stocks like DIALOG GROUP BHD [] and MALAYSIAN RESOURCES CORP [] Bhd (MRCB), SUNWAY HOLDINGS BHD [], KUALA LUMPUR KEPONG BHD [] and BERJAYA LAND BHD [].
MMC Corp Bhd and the other shareholders of the profitable Gas Malaysia Sdn Bhd is undertaking a listing exercise which would involve an offer for sale of 26% of Gas Malaysia’s existing stake.
MMC-Shahpadu (Holdings) Sdn Bhd owns 55% or 353.108 million shares of Gas Malaysia, Tokyo Gas-Mitsui &Co (Holdings) Sdn Bhd 25% (160.503 million shares) and PETRONAS GAS BHD [] 20% (128.388 million shares).
Gas Malaysia posted net profit of RM298.27 million in the financial year ended Dec 31, 2010 on the back of RM1.807 billion in revenue.
Kulim Bhd, which owns 74.99% of SINDORA BHD [], is offering RM3 per share in its proposed takeover of the company for the remaining 25.01%.
The RM3 offer price was a premium of 35 sen over the last traded price of RM2.65 before Sindora was suspended at midday on Monday.
Dialog Group Bhd has made its foray into the development and production of marginal hydrocarbon reserves in Malaysia after its joint venture (JV) secured a contract from Petroliam Nasional Bhd.
Petronas had awarded a risk service contract (RSC) for the development and production of O&G from the Balai cluster fields off Sarawak to a partnership of Roc Oil Malaysia (Holdings) Sdn Bhd and Dialog D&P Sdn Bhd in a JV with Petronas Carigali Sdn Bhd.
The Balai Cluster RSC is the second contract to be awarded under Petronas’ new petroleum arrangement.
Malaysian Resources Corp Bhd (MRCB) has secured a RM1.33 billion contract from Syarikat Prasarana Negara Bhd (SPNB) for the Ampang light rail transit line extension.
MRCB said the contract awarded to its unit MRCB Engineering Sdn Bhd was for the CONSTRUCTION [] and completion of facilities works including fabrication and delivery of segmental box girders (Package B).
Sunway Holdings Bhd unit has secured a RM569 million contract from Syarikat Prasarana Negara Bhd to build the facilities for Package B of the Kelana Jaya line extension project.
Kuala Lumpur Kepong Bhd’s (KLK) earnings increased by 31.9% to RM432.76 million from RM243.54 million a year ago, boosted mainly by the PLANTATION []s sector.
Revenue rose at a stronger pace of 62% to RM2.95 billion from RM1.82 billion. Earnings per share were 40.64 sen compared with 22.87 sen.
Berjaya Land Bhd is buying 57 acres of prime freehold land from Penang Turf Club for RM459 million for residential property projects with gross development value (GDV) of about RM1.52 billion.
Berjaya Group chairman Tan Sri Vincent Tan said on Tuesday, Aug 16 the current horse racing activities at the turf club would continue to remain at the club premises in Batu Gantong. The land it is buying is near the club.
TEBRAU TEGUH BHD [], which has fallen under the radar of investors in recent months despite the growing interest in Iskandar Malaysia, Johor, posted net profit of RM118,000 in the second quarter ended June 30, down 84.4% from RM758,000 a year ago.
Revenue was up 7.6% to RM27.83 million from RM25.85 million due to on-going construction activities.
Tebrau Teguh said property development accounted for RM12.97 million and construction RM28.11 million (before elimination of RM1.28 million). Earnings per share were 0.02 sen compared with 0.11 sen.
Fresh contracts awards would also generate excitement in stocks like DIALOG GROUP BHD [] and MALAYSIAN RESOURCES CORP [] Bhd (MRCB), SUNWAY HOLDINGS BHD [], KUALA LUMPUR KEPONG BHD [] and BERJAYA LAND BHD [].
MMC Corp Bhd and the other shareholders of the profitable Gas Malaysia Sdn Bhd is undertaking a listing exercise which would involve an offer for sale of 26% of Gas Malaysia’s existing stake.
MMC-Shahpadu (Holdings) Sdn Bhd owns 55% or 353.108 million shares of Gas Malaysia, Tokyo Gas-Mitsui &Co (Holdings) Sdn Bhd 25% (160.503 million shares) and PETRONAS GAS BHD [] 20% (128.388 million shares).
Gas Malaysia posted net profit of RM298.27 million in the financial year ended Dec 31, 2010 on the back of RM1.807 billion in revenue.
Kulim Bhd, which owns 74.99% of SINDORA BHD [], is offering RM3 per share in its proposed takeover of the company for the remaining 25.01%.
The RM3 offer price was a premium of 35 sen over the last traded price of RM2.65 before Sindora was suspended at midday on Monday.
Dialog Group Bhd has made its foray into the development and production of marginal hydrocarbon reserves in Malaysia after its joint venture (JV) secured a contract from Petroliam Nasional Bhd.
Petronas had awarded a risk service contract (RSC) for the development and production of O&G from the Balai cluster fields off Sarawak to a partnership of Roc Oil Malaysia (Holdings) Sdn Bhd and Dialog D&P Sdn Bhd in a JV with Petronas Carigali Sdn Bhd.
The Balai Cluster RSC is the second contract to be awarded under Petronas’ new petroleum arrangement.
Malaysian Resources Corp Bhd (MRCB) has secured a RM1.33 billion contract from Syarikat Prasarana Negara Bhd (SPNB) for the Ampang light rail transit line extension.
MRCB said the contract awarded to its unit MRCB Engineering Sdn Bhd was for the CONSTRUCTION [] and completion of facilities works including fabrication and delivery of segmental box girders (Package B).
Sunway Holdings Bhd unit has secured a RM569 million contract from Syarikat Prasarana Negara Bhd to build the facilities for Package B of the Kelana Jaya line extension project.
Kuala Lumpur Kepong Bhd’s (KLK) earnings increased by 31.9% to RM432.76 million from RM243.54 million a year ago, boosted mainly by the PLANTATION []s sector.
Revenue rose at a stronger pace of 62% to RM2.95 billion from RM1.82 billion. Earnings per share were 40.64 sen compared with 22.87 sen.
Berjaya Land Bhd is buying 57 acres of prime freehold land from Penang Turf Club for RM459 million for residential property projects with gross development value (GDV) of about RM1.52 billion.
Berjaya Group chairman Tan Sri Vincent Tan said on Tuesday, Aug 16 the current horse racing activities at the turf club would continue to remain at the club premises in Batu Gantong. The land it is buying is near the club.
TEBRAU TEGUH BHD [], which has fallen under the radar of investors in recent months despite the growing interest in Iskandar Malaysia, Johor, posted net profit of RM118,000 in the second quarter ended June 30, down 84.4% from RM758,000 a year ago.
Revenue was up 7.6% to RM27.83 million from RM25.85 million due to on-going construction activities.
Tebrau Teguh said property development accounted for RM12.97 million and construction RM28.11 million (before elimination of RM1.28 million). Earnings per share were 0.02 sen compared with 0.11 sen.
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