PLUS, MTD, Bina Puri, Jaya Tiasa, Time Dotcom, BLand
Tuesday, December 21, 2010
KUALA LUMPUR: Regional markets are likely continue to experience cautious trading on Tuesday, Dec 21, following the ongoing concerns on the European debt crisis as well as simmering tensions on the Korean Peninsula.
On Monday, major Asian markets slumped after South Korea carried out military drills, but some of the losses were minimised after there were no retaliatory actions from North Korea.
However, the bearish momentum is expected to continue for some time, as most regional investors have already begun their year-end holidays.
On Bursa Malaysia, the lack of fresh catalysts coupled with bearish regional sentiment have kept investor sentiment somewhat muted in recent times.
Among the stocks to watch on Tuesday include PLUS EXPRESSWAYS BHD [], MTD CAPITAL BHD [], BINA PURI HOLDINGS BHD [], Jaya Tiasa Bhd, TIME DOTCOM BHD [], BERJAYA LAND BHD [] (BLand).
PLUS has received an offer from Jelas Ulung Sdn Bhd to acquire all of its business undertakings, including assets and liabilities for RM26 billion, or RM5.20 per share cash.
MTD Capital received a buyout offer from its major shareholders Nikvest Sdn Bhd, Alloy Consolidated Sdn Bhd, Alloy Concrete Engineering Sdn Bhd and Alloy Capital Sdn Bhd (joint offerors) to acquire the remaining shares they do not already hold (excluding 27.49 million treasury shares) at RM9.50 apiece.
The joint offerors hold 131.48 million shares of RM1 each in MTD, representing 53.13%.
The joint offers have also made a downstream, take-over offer for the existing and paid-up shares of RM1 each in MTD ACPI ENGINEERING BHD [] not already held by MTD for a cash offer price of 53 sen per share.
Trading MTD and MTD ACPI would resume at 9am on Tuesday, Dec 21. The two companies had requested for a trading halt from 9am on Dec 20 pending the announcement
Bina Puri's unit in Brunei landed a sub-contract worth RM158.36 million to undertake the project known as Skim Tanah Kurnia Rakyat Jati Kampung Lugu: Kerja-kerja Infrastruktur dan Perumahan in Brunei .
Bina Puri said on Monday that Bina Puri (B) Sdn Bhd had entered into a subcontract agreement with Chuon Tzu CONSTRUCTION [] Company Sdn Bhd on Dec 3 to undertake the project.
Jaya Tiasa net profit for the second quarter ended Oct 31, 2010 surged nine-fold to RM30.08 million from RM3.24 million a year ago on higher profit margin from log sales, increase in sales volume and average selling price of fresh fruit bunches as well as doubling of crude palm oil sales volume.
Its revenue for the quarter rose 7% to RM192.21 million from RM180.42 million. Earnings per share was 11.27 sen while net assets per share was RM4.31.
Time Dotcom's wholly-owned subsidiary TT dotCom Sdn Bhd has entered into principal terms of collaboration with MEASAT Broadcast Network Systems Sdn Bhd (Astro) for the provision of IPTV and Broadband services across the Klang Valley and Penang.
BLand net profit for the second quarter ended Oct 31, 2010 fell to RM5.71 million from RM15.16 million a year earlier despite posting revenue RM1.02 billion.
For the six months ended Oct 31, BLand's net profit was RM121.58 million on the back of revenue RM2 billion.
The lower net profit was attributed to the lower profit contribution from the gaming business operated by BERJAYA SPORTS TOTO BHD []'s principal subsidiary company Sports Toto (Malaysia) Sdn Bhd.
It said Sports Toto registered a lower pre-tax profit in the quarter under review due to the increase in Pool Betting Duty from 6% to 8% (effective June 1, 2010) coupled with higher prize payout.
On Monday, major Asian markets slumped after South Korea carried out military drills, but some of the losses were minimised after there were no retaliatory actions from North Korea.
However, the bearish momentum is expected to continue for some time, as most regional investors have already begun their year-end holidays.
On Bursa Malaysia, the lack of fresh catalysts coupled with bearish regional sentiment have kept investor sentiment somewhat muted in recent times.
Among the stocks to watch on Tuesday include PLUS EXPRESSWAYS BHD [], MTD CAPITAL BHD [], BINA PURI HOLDINGS BHD [], Jaya Tiasa Bhd, TIME DOTCOM BHD [], BERJAYA LAND BHD [] (BLand).
PLUS has received an offer from Jelas Ulung Sdn Bhd to acquire all of its business undertakings, including assets and liabilities for RM26 billion, or RM5.20 per share cash.
MTD Capital received a buyout offer from its major shareholders Nikvest Sdn Bhd, Alloy Consolidated Sdn Bhd, Alloy Concrete Engineering Sdn Bhd and Alloy Capital Sdn Bhd (joint offerors) to acquire the remaining shares they do not already hold (excluding 27.49 million treasury shares) at RM9.50 apiece.
The joint offerors hold 131.48 million shares of RM1 each in MTD, representing 53.13%.
The joint offers have also made a downstream, take-over offer for the existing and paid-up shares of RM1 each in MTD ACPI ENGINEERING BHD [] not already held by MTD for a cash offer price of 53 sen per share.
Trading MTD and MTD ACPI would resume at 9am on Tuesday, Dec 21. The two companies had requested for a trading halt from 9am on Dec 20 pending the announcement
Bina Puri's unit in Brunei landed a sub-contract worth RM158.36 million to undertake the project known as Skim Tanah Kurnia Rakyat Jati Kampung Lugu: Kerja-kerja Infrastruktur dan Perumahan in Brunei .
Bina Puri said on Monday that Bina Puri (B) Sdn Bhd had entered into a subcontract agreement with Chuon Tzu CONSTRUCTION [] Company Sdn Bhd on Dec 3 to undertake the project.
Jaya Tiasa net profit for the second quarter ended Oct 31, 2010 surged nine-fold to RM30.08 million from RM3.24 million a year ago on higher profit margin from log sales, increase in sales volume and average selling price of fresh fruit bunches as well as doubling of crude palm oil sales volume.
Its revenue for the quarter rose 7% to RM192.21 million from RM180.42 million. Earnings per share was 11.27 sen while net assets per share was RM4.31.
Time Dotcom's wholly-owned subsidiary TT dotCom Sdn Bhd has entered into principal terms of collaboration with MEASAT Broadcast Network Systems Sdn Bhd (Astro) for the provision of IPTV and Broadband services across the Klang Valley and Penang.
BLand net profit for the second quarter ended Oct 31, 2010 fell to RM5.71 million from RM15.16 million a year earlier despite posting revenue RM1.02 billion.
For the six months ended Oct 31, BLand's net profit was RM121.58 million on the back of revenue RM2 billion.
The lower net profit was attributed to the lower profit contribution from the gaming business operated by BERJAYA SPORTS TOTO BHD []'s principal subsidiary company Sports Toto (Malaysia) Sdn Bhd.
It said Sports Toto registered a lower pre-tax profit in the quarter under review due to the increase in Pool Betting Duty from 6% to 8% (effective June 1, 2010) coupled with higher prize payout.
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