SMRT Holdings, Masterskill, MAHB, AirAsia, Oriental Interest, Syarikat Takaful Malaysia and IOI Properties

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KUALA LUMPUR (Nov 10): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Tuesday, Nov 11) could be the following: SMRT Holdings Bhd, Masterskill Education Group Bhd, Malaysia Airports Holdings Bhd (MAHB), AirAsia Bhd, Oriental Interest Bhd, Syarikat Takaful Malaysia Bhd and IOI Properties Group Bhd.

Controlling shareholder Siva Kumar M. Jeyapalan will be hiving off his entire 32% stake in ailing Masterskill Education Group Bhd to a subsidiary of SMRT Holdings Bhd (SMRT).

Both Masterskill and SMRT are tertiary education providers.

“SMRT will have a hand in Masterskill’s future. I have offered to sell all my shares in Masterskill to a subsidiary of SMRT. I know that SMRT will be conducting a due-diligence to purchase my stake in Masterskill,” Siva Kumar told TheEdge Markets.com.

The sale of Siva Kumar’s stake in Masterskill should come as no surprise to the market as this is not the first time he has sought to dispose of his stake.

Malaysia Airport Holdings Bhd (MAHB) has proposed a 1-for-5 rights issue to raise RM1.32 billion to fund the acquisition of the remaining 40% stake in Turkish airport ventures, I.stanbul Sabiha Gökçen Uluslararasi Havalimani Yatirim Yapim Ve I.s,letme A.S,. (ISG) and LGM Havalimani I.s,letmeleri Ticaret Ve Turizm A.S,. (LGM).

The airport operator expects the rights issue to be completed in the first quarter of 2015.

Low cost carrier AirAsia Bhd saw a marginal 1% increase in passenger numbers for the third financial quarter ended Sept 30, 2014 (3QFY14) to 10.74 million from 10.61 million a year ago, as capacity dropped 1% year-on-year.

Nevertheless, the group reported that its load factor, or percentage of seats filled with paying passengers, was up two percentage points to 78% from 3QFY13.

In its preliminary operating statistics released today, AirAsia said only four aircraft were added into the system in 3QFY14 (compared with 34 additional aircraft in 3QFY13), bringing the total fleet size of the group to 171 as at Sept 30, 2014.

Meanwhile Oriental Interest Bhd is acquiring two pieces of agricultural land in Kuala Muda, Kedah, for a total consideration of RM19.3 million or RM21.50 psf.

The firm said the land, measuring approximately 20.6 acres, will allow for "synergy of resources" within the group for property development activities in Kedah.

But, it declined to reveal its development plan for the land, citing it is "too premature" before completion of the acquisition.

The acquisition is expected to be completed within nine months.

Syarikat Takaful Malaysia Bhd’s net profit rose 6.2% to RM33.3 million in the third quarter ended Sept 30, 2014, from RM31.6 million in the previous corresponding quarter.

Revenue grew 4.6% to RM394.32 million from RM377.02 million previously.

The higher revenue was attributed to higher gross sales generated by the Group Employee Benefits and Mortgage products and higher net investment income, said Takaful in a filing with Bursa Malaysia.

For the nine-month period, net profit expanded 13.6% to RM110.8 million from RM97.5 million a year ago, but revenue fell 6.2% to RM1.25 billion from RM1.33 billion.

The Takaful operator attributed the higher net profit to lower management expenses and expense reserves and better investment income.

IOI Properties Group Bhd said it plans to undertake a renounceable rights issue of 539.94 million new shares on a 1-for-6 basis to raise up to RM1.025 billion, mainly for its investment properties at IOI Resort City in Putrajaya.