Fair value has been raised to RM2.94 (from RM2.69previously). Yesterday Faber closed at RM1.66 and the chart is uptrend all the way but too gradual (slow)!
8 months ago
Friday, February 26, 2010
FABER GROUP BERHAD Quarterly results
Quarterly profit has more than doubled, but year to year the profit is half of 2008... alamak.
Fair value has been raised to RM2.94 (from RM2.69previously). Yesterday Faber closed at RM1.66 and the chart is uptrend all the way but too gradual (slow)!
Fair value has been raised to RM2.94 (from RM2.69previously). Yesterday Faber closed at RM1.66 and the chart is uptrend all the way but too gradual (slow)!
Thursday, February 25, 2010
AmResearch keeps Axiata Group (6888.KU) at Buy with MYR4.17
AmResearch keeps Axiata Group (6888.KU) at Buy with MYR4.17 fair value. Company's FY09 net profit at MYR1.75 billion vs MYR471 million in FY08; says results "excellent," following generous contribution from XL - which swung into black with MYR1.7 trillion in net profit. Expects Celcom's total subscriber base to climb to 11.1 by FY11, slicing 34% market share of Malaysia's mobile industry. "This would put Celcom still behind Maxis - whose market share should remain at above 39% throughout the same period." Broker also expects XL's further earnings enhancement, following successful turnaround plan focusing on yield. "In its pursuit to retain only revenue generating subscriber, this business unit has been able to achieve a revenue growth of 14.2% in FY09." Shares last +6.3% at MYR3.72
Axiata Records Profit Of RM1.65 Billion For 2009
KUALA LUMPUR, Feb 24 (Bernama) -- Axiata Group Bhd reported a 232 per cent increase in profit after tax and minority interests (PATAMI) to RM1.65 billion for the year ended Dec 31, 2009 from RM498 million in 2008.
Group revenue grew 15 per cent to RM13.1 billion, driven by continuous improvement in performance from all operational companies.
Its President and Group Chief Executive Officer, Datuk Seri Jamaludin Ibrahim, said the continuous improvement could be seen across the board, particularly PT XL Axiata Tbk and Axiata (Bangladesh) Ltd, which returned to black compared to losses in 2008 on the back of relentless cost management.
The group also turned free cash flow positive for the first time, up 265 per cent to RM2.1 billion, he said during a media briefing on the group's 2009 financial results here Wednesday.
When asked on any dividend announcement, Jamaludin said the group was not planning to announce a dividend as it wanted to use the funds for further growth.
For the current financial year ending Dec 31, 2010, the group would be spending between RM4 billion and RM4.5 billion in capital expenditure (CAPEX) to boost its expansion programme.
"We plan to spend RM4 billion to RM4.5 billion on information technology to build a new model which can help reduce cost and synergise the five countries' operations," he said.
He said the group was expecting "good growth" on the back of improved macro economic condition.
"But we expect the competitive environment in some countries will be heating up. We have to balance the competition pressure from all countries," said Jamaludin.
To drive future profits, he said the group was looking at subscriber growth, mobile broadband as well as non-voice services from all the countries where it operates.
Jamaludin said the group expected to come out with the target for its current financial year by May this year.
Currently, the group, including its subsidiaries and associates, has over 120 million mobile subscribers in Asia and 511,000 mobile broadband subscribers.
Meanwhile, commenting on plans to dispose non-core assets, its Group Chief Financial Officer, Datuk Yusof Annuar Yaacob, said the disposal of some of these assets would be finalised by the first quarter of this year.
-- BERNAMA
Group revenue grew 15 per cent to RM13.1 billion, driven by continuous improvement in performance from all operational companies.
Its President and Group Chief Executive Officer, Datuk Seri Jamaludin Ibrahim, said the continuous improvement could be seen across the board, particularly PT XL Axiata Tbk and Axiata (Bangladesh) Ltd, which returned to black compared to losses in 2008 on the back of relentless cost management.
The group also turned free cash flow positive for the first time, up 265 per cent to RM2.1 billion, he said during a media briefing on the group's 2009 financial results here Wednesday.
When asked on any dividend announcement, Jamaludin said the group was not planning to announce a dividend as it wanted to use the funds for further growth.
For the current financial year ending Dec 31, 2010, the group would be spending between RM4 billion and RM4.5 billion in capital expenditure (CAPEX) to boost its expansion programme.
"We plan to spend RM4 billion to RM4.5 billion on information technology to build a new model which can help reduce cost and synergise the five countries' operations," he said.
He said the group was expecting "good growth" on the back of improved macro economic condition.
"But we expect the competitive environment in some countries will be heating up. We have to balance the competition pressure from all countries," said Jamaludin.
To drive future profits, he said the group was looking at subscriber growth, mobile broadband as well as non-voice services from all the countries where it operates.
Jamaludin said the group expected to come out with the target for its current financial year by May this year.
Currently, the group, including its subsidiaries and associates, has over 120 million mobile subscribers in Asia and 511,000 mobile broadband subscribers.
Meanwhile, commenting on plans to dispose non-core assets, its Group Chief Financial Officer, Datuk Yusof Annuar Yaacob, said the disposal of some of these assets would be finalised by the first quarter of this year.
-- BERNAMA
Monday, February 22, 2010
OSK Research upgrades Supermax, TP RM10
KUALA LUMPUR: OSK Research upgraded its FY10 earnings for Supermax Corp Bhd by 15% in line with the company’s solid performance, strong rubber glove demand and management’s internal net profit target of RM168 million.
"Maintain Buy with higher target price of RM10.00 from RM7.94 previously," said the research house on Monday, Feb 22.
It said Supermax's FY09 results were above expectations, mainly boosted by higher selling prices of gloves and persistently strong demand from the Latin American markets, especially Brazil.
Although the 4QFY09 numbers took a hit from a one-off interest expense of RM5.4m, Supermax’s net profit still sprang up by 10.0% q-o-q.
"We have upgraded our FY10 earnings by 15% in line with the company’s solid performance, strong rubber glove demand and management’s internal net profit target of RM168m. Maintain Buy with higher target price of RM10.00 from RM7.94 previously," it said.
"Maintain Buy with higher target price of RM10.00 from RM7.94 previously," said the research house on Monday, Feb 22.
It said Supermax's FY09 results were above expectations, mainly boosted by higher selling prices of gloves and persistently strong demand from the Latin American markets, especially Brazil.
Although the 4QFY09 numbers took a hit from a one-off interest expense of RM5.4m, Supermax’s net profit still sprang up by 10.0% q-o-q.
"We have upgraded our FY10 earnings by 15% in line with the company’s solid performance, strong rubber glove demand and management’s internal net profit target of RM168m. Maintain Buy with higher target price of RM10.00 from RM7.94 previously," it said.
Friday, February 19, 2010
Supermax full year profit jumps to RM152m
SUPERMAX Corporation Bhd registered a significantly increased pre-tax profit of RM152.139 million for the financial year ended Dec 31, 2009, compared with RM51.998 million in 2008.
In a statement here today, the glove manufacturing company said its net profit jumped almost three folds to an impressive RM129.7 million from RM47 million in the previous year.
Its revenue rose to RM814.836 million from RM811.823 million previously.
Supermax said the increase in manufacturing margins and the management's main focus on inventory management, receivable management, production efficiency management and financial management were main contributors to the higher profit level which rose over 176 per cent from previous year.
Profits from associate companies which increased substantially also contributed to the net profit, it said.
The company has proposed a final dividend of eight per cent tax exempt amounting to RM10.8 million to be paid out on June 28, 2010.
It also declared a special dividend of nine per cent tax exempt amounting to RM12.2 million.
The final dividend is subject to shareholders' approval at the company's annual general meeting on May 19.
For the fourth quarter ended Dec 31, 2009, Supermax's revenue increased by 7.4 per cent to RM196.417 million from RM182.825 million in the corresponding quarter of 2008 on the back of strong global demand, increased output from refurbished lines and higher prices for its rubber gloves.
Its pre-tax profit also advanced to RM50.602 million from RM4.092 million previously.
BERNAMA
In a statement here today, the glove manufacturing company said its net profit jumped almost three folds to an impressive RM129.7 million from RM47 million in the previous year.
Its revenue rose to RM814.836 million from RM811.823 million previously.
Supermax said the increase in manufacturing margins and the management's main focus on inventory management, receivable management, production efficiency management and financial management were main contributors to the higher profit level which rose over 176 per cent from previous year.
Profits from associate companies which increased substantially also contributed to the net profit, it said.
The company has proposed a final dividend of eight per cent tax exempt amounting to RM10.8 million to be paid out on June 28, 2010.
It also declared a special dividend of nine per cent tax exempt amounting to RM12.2 million.
The final dividend is subject to shareholders' approval at the company's annual general meeting on May 19.
For the fourth quarter ended Dec 31, 2009, Supermax's revenue increased by 7.4 per cent to RM196.417 million from RM182.825 million in the corresponding quarter of 2008 on the back of strong global demand, increased output from refurbished lines and higher prices for its rubber gloves.
Its pre-tax profit also advanced to RM50.602 million from RM4.092 million previously.
BERNAMA
Supermax - Distributing more angpows?
Potential profit jump; maintain BUY. Yesterday, Business Times penned an article on its interview with Supermax’s managing director, Dato’ Seri Stanley Thai. His comments were very much in line with our view but his forecasts of industry demand and supply differ from our estimates which are based on information gathered from our industry contacts. Also noteworthy was management’s confirmation of a special dividend if it exceeded its net profit target for FY09. We retain our earnings forecasts pending Supermax’s release of its 4Q results next week. We expect its core net profit to be stronger on both qoq and yoy basis. As industry prospects remain favourable, we maintain our BUY call on Supermax. Our target price remains intact at RM7.96, still pegged to a 20% discount to Top Glove’s target P/E of 16.5x. Potential re-rating catalysts include the anticipated strong 4Q results, continuing uptick in glove demand and upcoming capacity expansion. Supermax remains one of our top picks for the rubber glove sector.
Read more...
Read more...
Thursday, February 18, 2010
OSK Research Sees Positive Prospect For Leader
KUALA LUMPUR, Feb 18 (Bernama) -- Sarawak Energy Bhd (SEB)'s plan to build five more hydroelectric dams, is a positive catalyst for Leader Universal Holdings Bhd (Leader), as it will lead to higher demand for cables and wire products.
The supply of cable and wires will benefit Leader directly and indirectly, said OSK Investment Research, in a research note today.
OSK Research said,the company could directly supply to the project sites while its 26 per cent owned associated company, Sarawak Cable, can be an indirect supplier.
Leader's prospects are positive given that energy-related projects in Sarawak are moving towards implementation, said the research house.
As reported, Sarawak plans to build five more hydro-electric dams, with a combined power capacity of more than 3,000 MW, over the next five years.
Sarawak Public Utilities Minister Datuk Amar Awang Tengah Ali Hasan yesterday said, technical studies on the proposed dams by SEB, had been completed.
The five new dams are in Balleh (1,400 MW), Pelagus (410 MW), Baram (1,200 MW), Limbang (245 MW) and Lawas (100 MW).
-- BERNAMA
The supply of cable and wires will benefit Leader directly and indirectly, said OSK Investment Research, in a research note today.
OSK Research said,the company could directly supply to the project sites while its 26 per cent owned associated company, Sarawak Cable, can be an indirect supplier.
Leader's prospects are positive given that energy-related projects in Sarawak are moving towards implementation, said the research house.
As reported, Sarawak plans to build five more hydro-electric dams, with a combined power capacity of more than 3,000 MW, over the next five years.
Sarawak Public Utilities Minister Datuk Amar Awang Tengah Ali Hasan yesterday said, technical studies on the proposed dams by SEB, had been completed.
The five new dams are in Balleh (1,400 MW), Pelagus (410 MW), Baram (1,200 MW), Limbang (245 MW) and Lawas (100 MW).
-- BERNAMA
Supermax (7106.KU) may post 4Q net profit of MYR46 million
Supermax (7106.KU) may post 4Q net profit of MYR46 million vs MYR1.5 million year earlier, says CIMB Research's analyst Terence Wong; cites robust demand, stronger margins as reasons for substantially improved 4Q earnings. "Although no new capacity came onstream for Supermax last year, excess demand has given glove manufacturers including Supermax pricing power and boosted their margins," says Wong; adds 4Q net profit forecast +15% on quarter; takes FY net profit to MYR132 million (vs MYR46.5 million year earlier), which exceeds glovemaker's target of MYR117 million. Wong thinks Supermax may also surprise with special dividend of 5-sen/share. Keeps Buy call with unchanged target of MYR7.96. Company expected to release 4Q earnings at 0500 GMT Monday.
Tuesday, February 16, 2010
Analysts: Rubber glove firms offer tremendous upside
STOCK analysts are staying bullish on the prospect of rubber glove makers this year after a sterling 2009, convinced that the strong demand seen last year can be sustained.
Rubber glove companies including Supermax Corp Bhd (7106) have far outperformed the FTSE Kuala Lumpur Composite Index last year, having soared between 94 per cent and 540 per cent compared to a 45 per cent gain in the local benchmark.
"Despite the strong performance, their price earnings multiples remain at a discount to the market instead of the premium that they historically traded at," CIMB Research wrote in a note on January 6.
The sector stands at an average financial year 2010 price earnings multiples of 9.4 times, or just half the valuations during their peak at the end of 2006 and early 2007, it noted.
"We believe that the rubber glove companies are still undervalued and offer tremendous earnings upside due to their expansion programmes," CIMB said.
The stockbroker kept its overweight stance on the sector, with Adventa and Supermax remaining its top picks in the industry.
Its target price for Supermax was pegged at RM7.96, representing a 56 per cent potential upside from its last traded price of RM5.12. Adventa's target price was put at RM5.44.
"Many of the companies under our coverage are undertaking major capacity expansion, which will ensure earnings growth that is superior to the market," CIMB said, adding that factors that could extend the re-rating for the sector include the continued rising demand from the healthcare industry, ongoing capacity expansion and strong earnings growth.
Capital gains aside, Affin Investment Bank believes that shareholders may potentially be rewarded by another round of bonus issue or special dividends.
"Judging from past track record, glove manufacturers have been generous in rewarding shareholders via at least two to three rounds of bonus issues since their initial public offerings, backed by continued profitability and swelling retained earnings," Affin pointed out in a January 11 report.
Affin estimates that companies under its coverage, namely Kossan Rubber, Supermax and Top Glove, have enough share reserves to give out bonus shares.
"While this will not have any fundamental impact, any bonus issue exercise is positive to sentiment and share price," Affin said.
Rubber glove companies including Supermax Corp Bhd (7106) have far outperformed the FTSE Kuala Lumpur Composite Index last year, having soared between 94 per cent and 540 per cent compared to a 45 per cent gain in the local benchmark.
"Despite the strong performance, their price earnings multiples remain at a discount to the market instead of the premium that they historically traded at," CIMB Research wrote in a note on January 6.
The sector stands at an average financial year 2010 price earnings multiples of 9.4 times, or just half the valuations during their peak at the end of 2006 and early 2007, it noted.
"We believe that the rubber glove companies are still undervalued and offer tremendous earnings upside due to their expansion programmes," CIMB said.
The stockbroker kept its overweight stance on the sector, with Adventa and Supermax remaining its top picks in the industry.
Its target price for Supermax was pegged at RM7.96, representing a 56 per cent potential upside from its last traded price of RM5.12. Adventa's target price was put at RM5.44.
"Many of the companies under our coverage are undertaking major capacity expansion, which will ensure earnings growth that is superior to the market," CIMB said, adding that factors that could extend the re-rating for the sector include the continued rising demand from the healthcare industry, ongoing capacity expansion and strong earnings growth.
Capital gains aside, Affin Investment Bank believes that shareholders may potentially be rewarded by another round of bonus issue or special dividends.
"Judging from past track record, glove manufacturers have been generous in rewarding shareholders via at least two to three rounds of bonus issues since their initial public offerings, backed by continued profitability and swelling retained earnings," Affin pointed out in a January 11 report.
Affin estimates that companies under its coverage, namely Kossan Rubber, Supermax and Top Glove, have enough share reserves to give out bonus shares.
"While this will not have any fundamental impact, any bonus issue exercise is positive to sentiment and share price," Affin said.
Friday, February 12, 2010
Leader eyes second Cambodia power plant
SIHANOUK VILLE: Leader Universal Holdings Bhd may build a second power plant in Cambodia after it completes the country's first coal-fired plant in 2012.
The Penang-based company, which yesterday broke ground for the construction of its 100-megawatt (MW) coal-fired power project in Sihanouk Ville in southern Cambodia, is eyeing a 700MW facility, managing director and chief executive officer Datuk Sean H'ng Chun Hsiang said yesterday.
"Our plan hinges on demand for power and we are currently in talks for this with our joint venture partner," he told Malaysian reporters after the signing ceremony for a US$140 million (RM479 million) syndicated loan for the first coal-fired plant.
The event, witnessed by Cambodia's Deputy Prime Minister Keat Chhon and its Minister of Industry, Mines and Energy Suy Sem, is a 80:20 joint-venture project between Leader and Cambodia International Investment Development Group Co Ltd (CIIDG).
CIIDG is a group of Cambodian individuals.
Also present were Leader's chairman Tan Sri Razali Ismail and deputy executive chairman Datuk Seri H'ng Bok San.
The group's wholly-owned unit Leader Infrastructure (Labuan) Ltd has secured a US$140 million syndicated term-loan from a group of lenders, led by OCBC Bank (Malaysia) Bhd.
OCBC is the sole bookrunner and joint mandated lead arranger with Malayan Banking Bhd. Ambank (M) Bhd and Bank of China are the joint-lead managers.
"We are pleased to be able to once again lead-arrange a landmark cross-border transaction for a Malaysian corporate with an innovative and cost-efficient project financing and is well participated by renowned regional banking group," OCBC Bank's head of investment banking Tan Ai Chin said after the signing ceremony.
Meanwhile, H'ng said the coal-fired electric power plant project in Sihanouk Ville is estimated to cost US$170 million (RM581 million).
"The introduction of a coal power plant technology currently is timely," he added, saying that coal prices are normally lower than oil prices, which means it could translate into a lower tariff for the Cambodian people.
Leader's presence in Cambodia dates to 1995 when it developed its first independent power producer project in Phnom Penh.
Last month, it inked a deal for a build-own-transfer power transmission project with state-owned power company Electricite du Cambodge (EDC). Under that deal, Leader will build a 230Kv power transmission system from north Phnom Penh to Kampung Cham.
Leader will manage and maintain the transmission line for 25 years before returning it to the government.
The Penang-based company, which yesterday broke ground for the construction of its 100-megawatt (MW) coal-fired power project in Sihanouk Ville in southern Cambodia, is eyeing a 700MW facility, managing director and chief executive officer Datuk Sean H'ng Chun Hsiang said yesterday.
"Our plan hinges on demand for power and we are currently in talks for this with our joint venture partner," he told Malaysian reporters after the signing ceremony for a US$140 million (RM479 million) syndicated loan for the first coal-fired plant.
The event, witnessed by Cambodia's Deputy Prime Minister Keat Chhon and its Minister of Industry, Mines and Energy Suy Sem, is a 80:20 joint-venture project between Leader and Cambodia International Investment Development Group Co Ltd (CIIDG).
CIIDG is a group of Cambodian individuals.
Also present were Leader's chairman Tan Sri Razali Ismail and deputy executive chairman Datuk Seri H'ng Bok San.
The group's wholly-owned unit Leader Infrastructure (Labuan) Ltd has secured a US$140 million syndicated term-loan from a group of lenders, led by OCBC Bank (Malaysia) Bhd.
OCBC is the sole bookrunner and joint mandated lead arranger with Malayan Banking Bhd. Ambank (M) Bhd and Bank of China are the joint-lead managers.
"We are pleased to be able to once again lead-arrange a landmark cross-border transaction for a Malaysian corporate with an innovative and cost-efficient project financing and is well participated by renowned regional banking group," OCBC Bank's head of investment banking Tan Ai Chin said after the signing ceremony.
Meanwhile, H'ng said the coal-fired electric power plant project in Sihanouk Ville is estimated to cost US$170 million (RM581 million).
"The introduction of a coal power plant technology currently is timely," he added, saying that coal prices are normally lower than oil prices, which means it could translate into a lower tariff for the Cambodian people.
Leader's presence in Cambodia dates to 1995 when it developed its first independent power producer project in Phnom Penh.
Last month, it inked a deal for a build-own-transfer power transmission project with state-owned power company Electricite du Cambodge (EDC). Under that deal, Leader will build a 230Kv power transmission system from north Phnom Penh to Kampung Cham.
Leader will manage and maintain the transmission line for 25 years before returning it to the government.
Thursday, February 11, 2010
Next Year Will Be Profitable Year For Green Packet, Says CEO
PETALING JAYA, Feb 11 (Bernama) -- Green Packet Bhd, developer of mobile wireless networking technologies, expects next year to be a profitable year for the company.
Group managing director and chief executive officer Puan Chan Cheong said the company would reach earnings before interest, taxes, depreciation and amortisation (EBITDA) positive this year but still making losses.
"This year will be the key year on the group level which try to be EBITDA positive. Only in 2011, we expect net profit after tax to contribute to the real bottom line," he told a media briefing on its financial results ended Dec 31, 2009 Thursday.
Green Packet has two core businesses -- deployment of WiMAX broadband through its subsidiary, Packet One Networks (M) Sdn Bhd (P1), and development and manufacture of WiMAX communications solutions products.
The company's revenue had increased nearly three-fold to RM235 million in the financial year ended Dec 31, 2009 from RM87 million achieved in the previous year.
-- BERNAMA
Group managing director and chief executive officer Puan Chan Cheong said the company would reach earnings before interest, taxes, depreciation and amortisation (EBITDA) positive this year but still making losses.
"This year will be the key year on the group level which try to be EBITDA positive. Only in 2011, we expect net profit after tax to contribute to the real bottom line," he told a media briefing on its financial results ended Dec 31, 2009 Thursday.
Green Packet has two core businesses -- deployment of WiMAX broadband through its subsidiary, Packet One Networks (M) Sdn Bhd (P1), and development and manufacture of WiMAX communications solutions products.
The company's revenue had increased nearly three-fold to RM235 million in the financial year ended Dec 31, 2009 from RM87 million achieved in the previous year.
-- BERNAMA
DJ MARKET TALK: Fajar Baru Likely Higher, Lands MYR69.9M Contract
0015 GMT [Dow Jones] Fajar Baru (7047.KU) likely higher, may test recent high of MYR1.16, says dealer with local brokerage; this, after unit Fajar Baru Builder lands MYR69.9 million contract to undertake civil works for aquaculture farm in Terengganu; says contract will take 12 months to complete. "The contract accounts for about 15% of the total orderbook and should enhance bottomline as gross margins are higher than other contracts," says dealer; estimates contract could contribute close to MYR7 million gross profit for fiscal years ending June 2010, June 2011. (ECH)
Wednesday, February 10, 2010
Daibochi's Pre-Tax Profit Triples To RM27 Million In FY09
KUALA LUMPUR, Feb 10 (Bernama) -- Daibochi Plastic and Packaging Industry Bhd's pre-tax profit for the financial year ended Dec 31, 2009 more than tripled to RM27.141 million from RM9.01 million registered the previous year.
Revenue was also higher at RM221.79 million compared with RM217.17 million recorded in 2008, Daibochi said in a statement today.
The group attributed the excellent performance to higher overseas sales, improved operations, larger customer base and product mix.
Managing Director Thomas Lim said Daibochi's new product innovations such as metallised packaging and new sealing films saw greater acceptance among its customers.
"We have also seen initial success in growing our premium customer base both locally and regionally," he added.
Moving forward, Lim said the group planned to tap opportunities in the emerging new market of healthcare.
"We believe this strategy will effectively broaden our revenue base and go a long way in adding substance to our business model," Lim added.
Revenue was also higher at RM221.79 million compared with RM217.17 million recorded in 2008, Daibochi said in a statement today.
The group attributed the excellent performance to higher overseas sales, improved operations, larger customer base and product mix.
Managing Director Thomas Lim said Daibochi's new product innovations such as metallised packaging and new sealing films saw greater acceptance among its customers.
"We have also seen initial success in growing our premium customer base both locally and regionally," he added.
Moving forward, Lim said the group planned to tap opportunities in the emerging new market of healthcare.
"We believe this strategy will effectively broaden our revenue base and go a long way in adding substance to our business model," Lim added.
Tuesday, February 9, 2010
P1 Expects Subscriber Base To Double This Year
PETALING JAYA, Feb 9 (Bernama) -- Packet One Networks (Malaysia) Sdn Bhd (P1) expects its subscriber base to double this year with the launch of new products and expansion of coverage.
As at October last year, its subscriber base stood at around 100,000, its chief executive officer Michael Lai said at a media briefing on the company's strategy for 2010 here Tuesday.
He said the WiMAX (Worldwide Interoperability for Microwave Access) telecommunications company planned to launch several WiMAX-embedded devices, including WiMAX-embedded netbooks, later this year.
Lai said the company had been working closely with original device manufacturers (ODMs) to develop the WiMAX-embedded netbook.
On network coverage, Lai said P1 aimed to further strengthen its leadership position by expanding its WiMAX coverage to 45 per cent of the Malaysian population, including Sabah and Sarawak, this year.
He said since the company started rolling out its services in August 2008, P1 had extended WiMAX service to about 35 per cent of the population in Peninsular Malaysia as of 2009.
According to Lai, the company has improved its network to facilitate the strong demand for its services.
He said the company managed to improve on congested sites by a massive 78 per cent so far.
-- BERNAMA
As at October last year, its subscriber base stood at around 100,000, its chief executive officer Michael Lai said at a media briefing on the company's strategy for 2010 here Tuesday.
He said the WiMAX (Worldwide Interoperability for Microwave Access) telecommunications company planned to launch several WiMAX-embedded devices, including WiMAX-embedded netbooks, later this year.
Lai said the company had been working closely with original device manufacturers (ODMs) to develop the WiMAX-embedded netbook.
On network coverage, Lai said P1 aimed to further strengthen its leadership position by expanding its WiMAX coverage to 45 per cent of the Malaysian population, including Sabah and Sarawak, this year.
He said since the company started rolling out its services in August 2008, P1 had extended WiMAX service to about 35 per cent of the population in Peninsular Malaysia as of 2009.
According to Lai, the company has improved its network to facilitate the strong demand for its services.
He said the company managed to improve on congested sites by a massive 78 per cent so far.
-- BERNAMA
Monday, February 8, 2010
25 M'sian stocks that are expected to outperform the FBM KLCI
Standard & Poor’s recently issued a comprehensive report on Malaysia and the 25 top stocks it was looking to outperform the market in the Year of the Tiger. Below is an excerpt of that report.
AS we enter the Year of The Tiger, we can expect more volatility, especially with the current market valuations providing lesser room for disappointment.
Stock picking is likely to be more important this year, with fewer bargains available particularly as headwind builds.
Although share prices are not as cheap as in early 2009, forward price-to-earnings ratios (PERs) remain undemanding and we believe equities will remain favourable, given the limited alternatives.
We have selected 25 Malaysian stocks that we expect to outperform the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) this year.
Read more..
AS we enter the Year of The Tiger, we can expect more volatility, especially with the current market valuations providing lesser room for disappointment.
Stock picking is likely to be more important this year, with fewer bargains available particularly as headwind builds.
Although share prices are not as cheap as in early 2009, forward price-to-earnings ratios (PERs) remain undemanding and we believe equities will remain favourable, given the limited alternatives.
We have selected 25 Malaysian stocks that we expect to outperform the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) this year.
Read more..
WCT wins RM467m contract in Bahrain
WCT Bhd, a Malaysian construction company, said its joint venture unit signed a RM467 million contract for the “fit-out works” for a hotel in Bahrain.
WCT signed the contract with MAF Investments Bahrain BSC, it said in a statement today.
Bloomberg
WCT signed the contract with MAF Investments Bahrain BSC, it said in a statement today.
Bloomberg
Thursday, February 4, 2010
DJ Bursa Malaysia 4Q Net Profit At MYR96.3 Mln Vs MYR13.5 Mln
KUALA LUMPUR (Dow Jones)--Bursa Malaysia Bhd. (1818.KU) said Thursday its fourth-quarter earnings rose more than seven times from a year earlier mainly due to a one-off gain from a stake sale in its derivatives unit.
The Malaysian stock and derivatives exchange operator's net profit for the three months ended Dec. 31 was MYR96.3 million compared with MYR13.5 million a year earlier.
Bursa said in a filing that excluding the MYR76 million one-off gain from the disposal of a 25% stake in Bursa Malaysia Derivatives, operational profit was MYR20.3 million, a 50% rise from a year earlier, as more favorable investor sentiment boosted trading activity.
Fourth-quarter revenue more than doubled to MYR157.4 million from MYR71.1 million a year earlier.
- By K.P. Lee ; Dow Jones Newswires; (603) 2026 1233; kwan-por.lee@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=3CA7nGHkXXgBSMEavifO%2Bg%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
February 04, 2010 00:11 ET (05:11 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.
The Malaysian stock and derivatives exchange operator's net profit for the three months ended Dec. 31 was MYR96.3 million compared with MYR13.5 million a year earlier.
Bursa said in a filing that excluding the MYR76 million one-off gain from the disposal of a 25% stake in Bursa Malaysia Derivatives, operational profit was MYR20.3 million, a 50% rise from a year earlier, as more favorable investor sentiment boosted trading activity.
Fourth-quarter revenue more than doubled to MYR157.4 million from MYR71.1 million a year earlier.
- By K.P. Lee ; Dow Jones Newswires; (603) 2026 1233; kwan-por.lee@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=3CA7nGHkXXgBSMEavifO%2Bg%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
February 04, 2010 00:11 ET (05:11 GMT)
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Wednesday, February 3, 2010
Iris JV wins RM259.7m tender in Bangladesh
IRIS Corporation Bhd's joint venture with Data Edge Ltd and Polish Security Printing Works has been awarded a tender for the introduction of Machine Readable Passport and Machine Readable Visa in Dhaka.
In a filing to Bursa Malaysia today, Iris said the company was notified of the tender award to the joint venture by the Bangladeshi government yesterday.
The notification of tender award constituted the formation of a contract with an estimated price of Tk5,261.47 million or US$76.09 million (RM259.70 million), it said.
It said the contract agreement would be binding upon the joint venture furnishing a payment of Tk.101.53 million or US$1.47 million (RM5.02 million) as performance security to the Bangladeshi government within 21 days and upon signing the final contract agreement within 28 days.
The agreement would contribute positively to the earnings and earnings per share of the ICB Group in the future, it added.
-- BERNAMA
In a filing to Bursa Malaysia today, Iris said the company was notified of the tender award to the joint venture by the Bangladeshi government yesterday.
The notification of tender award constituted the formation of a contract with an estimated price of Tk5,261.47 million or US$76.09 million (RM259.70 million), it said.
It said the contract agreement would be binding upon the joint venture furnishing a payment of Tk.101.53 million or US$1.47 million (RM5.02 million) as performance security to the Bangladeshi government within 21 days and upon signing the final contract agreement within 28 days.
The agreement would contribute positively to the earnings and earnings per share of the ICB Group in the future, it added.
-- BERNAMA
Tuesday, February 2, 2010
Credit Suisse keeps Bursa Malaysia (1818.KU) as Outperform with unchanged MYR11.0 target
STOCK CALL: Credit Suisse keeps Bursa Malaysia (1818.KU) as Outperform with unchanged MYR11.0 target, which represents 42% potential upside. "We continue to believe 2010 will be a better year for capital markets, driven mainly by structural reforms made in June 2009, says CS; adds already see evidence of doubling trading volumes, stronger IPO pipeline, and increased capital raising and M&A activities. "And we expect further upside to market volumes arising from government sell down of GLC, and 15 to 17 GLC listings, and expectations of higher derivative income with CME tie up," says CS; notes Bursa's share price flat despite increased market activity post reforms. "At 21x FY10E P/E, Bursa's premium versus the market, and peers, is close to its recent low (seen in March 2009), despite its stronger growth outlook (two-year CAGR at 37.5%)," says CS. Stock last +0.8% at MYR7.75. (ECH)
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