MClean rides on robust hard disk drive demand

KUALA LUMPUR: Singapore-based company MClean Technologies Bhd expects its business to grow by double digits this year as rising global demand for computers would boost the hard disk drive (HDD) industry.

Read more: MClean rides on robust hard disk drive demand

Stocks Jump to New Highs

By JONATHAN CHENG And BRENDAN CONWAY

NEW YORK—Stocks powered to fresh multiyear highs, boosted by consumer optimism and strong earnings from industrial heavyweights.

The Dow Jones Industrial Average soared 115.49 points, or 0.9%, to finish at 12595.49, a fresh three-year high. The Standard & Poor's 500-stock index rose 11.99 points, or 0.9%, to 1347.24, while the Nasdaq Composite added 21.66, or 0.8%, to 2847.54.

The broad advances put the S&P 500 at its highest point since June 2008, while the Nasdaq Composite is just several points off a 10-year high. The Russell 2000 index of small-capitalization stocks, meanwhile, rose 1% to 853.04, a few points from its July 2007 record close.

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This Bull Market Has Some Fight Left in It: Chartist

Boilermech's Public Tranche Oversubcribed 66.32 Times

Read it in Bernama

The Dow is leading the rise, sell in May?

Focus Lumber IPO oversubscribed 64 times

Focus Lumber Bhd which is enroute to a listing on the Main Market of Bursa Malaysia, registered an oversubscription of 63.92 times for the six million shares offered for public subscription.

Read more: Focus Lumber IPO oversubscribed 64 times

28.04.11 Listing day performance!

MClean to rake in RM8m from IPO

MClean Technologies Bhd, en-route for listing on the ACE Market of Bursa Malaysia next month, expects to rake in RM8 million from its initial public offering.

Chief Executive Officer Bert Chow said 30 per cent of the proceeds would be utilised for capital expenditure and 41 per cent for working capital purposes while the rest for listing expenses.

"Part of the proceeds is for expansion of our China investment, to boost up our capacity by double digit," he told reporters at the launch of the company's prospectus here today.

Under its IPO, the company will undertake a public issue of 15.4 million new ordinary shares of 25 sen each together with 7.7 million free new warrants at an issue price of 52 sen per share.

Of this, 2.7 million new shares with 1.35 million warrants would be offered for public subscription, 8.6 million new shares with 4.3 million warrants for private placement and 4.1 million new shares with 2.05 million warrants for business associates of MClean Technologies.

MClean Technologies is the leading precision cleaning service provider for hard disk drives (HDD) in Singapore controlling a 37.6 per cent market share there.

It is also involved in plastic injection moulding for components of HDDs such as filters, media cassettes and trays.

The company too is the second largest player in the HDD cleaning industry in China with a 25.98 per cent market share. - Bernama

Read more: MClean to rake in RM8m from IPO

MClean Technologies plans for another plant in China latest!
SINGAPORE: Micro contamination control services provider for the hard disk drive (HDD) industry MClean Technologies Bhd (MClean Technologies) plans to further expand its existing plant in China.

Read it in Borneo Post

Bursa Q1 profit up 44%

Strong performance due to higher revenues from securities, derivatives trading

PETALING JAYA: Bursa Malaysia Bhd registered profit after tax and minority interest of RM40.5mil for the first quarter ended March 31, 44% higher than the RM28.1mil in the previous corresponding quarter.

Read more in The Star

AmResearch maintains Buy on Bursa Malaysia, unch FV RM9.60

KUALA LUMPUR: AmResearch said Bursa Malaysia’s earnings in the first quarter ended March 31, 2011 was boosted by strong volume and high velocity.

“We maintain our BUY rating on BURSA MALAYSIA BHD [] with an unchanged fair value of RM9.60. Our fair value is still pegged to fair P/E of 30x,” it said on Wednesday, April 20.

Bursa reported strong net earnings of RM40.5mil in 1QFY11, chalking up a robust 35.9% QoQ and 41.9% YoY growth.

“Annualised net earnings came in -4.2% below our estimate but was +2.5% above consensus forecast of RM157mil. The top line surpassed the RM100mil-mark, registering overall revenue of RM107.8mil in 1QFY11.

“This is the first time the quarterly revenue has surpassed the RM100mil level since almost three years ago in 3QFY07’s RM111.3mil,” it said.

Read it in The Edge

RM45 million will be invested to provide the Radio Frequency Identification (RFID) infrastructure

To enhance the efficiency of container clearance by reducing the queuing time at Customs checkpoints, improving security through the automatic detection of a compromised or open container, and optimising human resources for better services, RM45 million will be invested to provide the Radio Frequency Identification (RFID) infrastructure.


The RFID will enable security and automation of paperless Royal Malaysian Customs checkpoints throughout Malaysia.
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Read more: Najib unveils 7 new ETP projects

Smartag named as part of The Security and Trade Facilitation System using Radio Frequency Identification (RFID) (“Project”) for the Royal Malaysian Customs Checkpoint throughout Malaysia Smartag aims to set up same system for transborder customs clearance

Announcement Details/Table Section :
Pursuant to the speech given by the Prime Minister of Malaysia, YAB Dato’ Sri Mohd Najib bin Tun Abdul Razak at the Economic Transformation Programme (“ETP”) Progress Update Conference on 19 April 2011, the Board of Directors of Smartag wishes to inform that Smartag was named to be a part of the Project to provide security and trade facilitation system for the Royal Malaysian Customs at its checkpoints throughout Malaysia.


The ETP is a comprehensive effort under the Performance Management & Delivery Unit (“PEMANDU”) to spearhead growth areas in various industries with the objective of raising Malaysia’s overall gross national income. The PEMANDU’s main role and objective is to oversee the implementation, assess the progress, facilitate as well as support the delivery and drive the progress of the ETP.


At this juncture, no memorandum of understanding or agreement has been signed in respect to the Project. Further announcements on the progress of the Project will be released in due course once the Company receives further details on the Project.


This announcement is dated 19 April 2011.

Read it in Bursa

KUALA LUMPUR: Smartag Solutions Bhd, which was listed on Bursa Malaysia yesterday, is aiming to set up a common platform for customs clearance of goods at key land checkpoints in Malaysia, Thailand, Laos,Vietnam and southern China.



Read it in The Star

Stocks Tumble on U.S. Debt News; CAT Sinks

Ta Ann reaping fruits of labour as palms mature

Kuala Lumpur: Ta Ann Holdings Bhd's (5012) move to aggressively plant more oil palms in the last five years is literally bearing fruit now.

"The palms are maturing and bearing more fruit bunches. This year, we are aiming to harvest 380,000 tonnes of fresh fruit bunches, about 25 per cent more than previously," said group managing director and chief executive officer Datuk Wong Kuo Hea.

Read more: Ta Ann reaping fruits of labour as palms mature

Elelction Effect B4 and After (coming)

Johor MB approves Mastel-KUB RM1.23b intra-city commuter train service plan

KUALA LUMPUR: The Johor government has approved the proposed RM1.23 billion intra-city commuter train service in Iskandar Malaysia, which would involve 100km rail network.

Menteri Besar Datuk Abdul Ghani Othman had on Friday, April 15 given the approval to Metropolitan Commuter Network Sdn Bhd - a joint venture between KUB MALAYSIA BHD [] and Malaysia Steel Works (KL) Bhd (Masteel).

A joint statement by Iskandar Regional Development Authority (IRDA) and Metropolitan Commuter Network said the intra-city train service would involve the building of seven new stations and 16 halts connecting all major suburbs in Iskandar Malaysia.

The commuter service would cover over 100km of rail network and serve all major upcoming Tipping Point developments such as the Johor Premium Outlet, Legoland Malaysia, Educity, Hi-Tech Park-Senai, and Lake Hill Resort City.

Read it in The Edge

RHB Research initiates coverage on DRB-Hicom with outperform rating

KUALA LUMPUR: RHB Research has initiated coverage on DRB-HICOM BHD [] with an outperform recommendation at RM2.30 with a fair value of RM3.15 and said the company had significant dealflow potential that could continue to yield new business contracts going forward.

Read it in The Edge

Local fund style, in FULL control - Is it time for CHANGE next change?

Mah Sing plans industrial park in Johor, GDV RM610m

KUALA LUMPUR: MAH SING GROUP BHD [] is buying nine parcels of land in Tanjung Kupang, Johor Bahru measuring 205.72 acres for RM54.7 million for an industrial park.

Read it in The Edge

Mah Sing confident of hitting RM2b goal

KUALA LUMPUR: Mah Sing Group Bhd (8583), having chalked up sales of RM738 million in the first 15 weeks of this year, is optimistic of achieving its RM2 billion target by year-end as housing demand is still strong.

Read it in The Business Times

Harbour-Link unit gets RM75.2m jobs from Bintulu Port

KUALA LUMPUR: HARBOUR-LINK GROUP BHD [] unit Harbour-Link Logistics Sdn Bhd (HLL) has secured contracts worth RM75.2 million from Bintulu Port Sdn Bhd to supply gantry cranes.

It said on Monday, April 11 that the contracts comprised the supply of eight units of rubber tyred gantry crane and two units Panamax Class gantry crane to Bintulu Port.

It said the contracts were expected to be completed by April 2012.

“The contract is one of the main stream businesses of HLL.

“The contract is expected to contribute positively to the future revenue and earnings of Harbour-Link,” it said.

Read it in The Edge

The Dow, Breaking Out?

Nippon Steel may raise stake in Tatt Giap unit

KUALA LUMPUR: Nippon Steel Corp, the world’s fourth largest steelmaker, says it intends to raise its stake in Tatt Giap Group Bhd subsidiary Nippon EGalv Steel Sdn Bhd, which manufactures electro-galvanised steel.

According to a Reuters report yesterday, Nippon Steel planned to increase its stake in Nippon EGalv to 50.1% from 10% for US$6.5 million (RM19.7 million) by end-June.

Read it in The Edge

OSK buys 26.9% stake in DBE

PETALING JAYA: OSK Holdings Bhd unit OSK Investment Bank Bhd has become a substantial shareholder of poultry firm DBE Gurney Resources Bhd after buying 181 million shares, or a 26.9% stake, in the company.

Read it in The Edge

Dow Touches a 3-Year High