Thursday 25 Apr 2024
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KUALA LUMPUR (Mar 12): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Friday, Mar 12) could include the following: Yinson Holdings Bhd, Fraser & Neave Holdings Bhd, Matrix Concepts Holdings Bhd, Tanjung Offshore Bhd, Quill Capita Trust, Malaysian Resources Corp Bhd, Berjaya Media Bhd, Lee Swee Kiat Group Bhd, CIMB Group Holdings Bhd, and Wintoni Group Bhd.

Integrated offshore services provider Yinson Holdings Bhd announced today that its wholly-owned subsidiary Yinson Production (West Africa) Pte Ltd has secured a US$780 million term loan facility.

The facility is to partly finance a floating, production, storage and offloading vessel (FPSO) contract awarded by Eni Ghana Exploration Production Limited (Eni Ghana) on Jan 27, 2015, which has an estimated aggregate value of US$2.54 billion (about RM9.4 billion).

Yinson (fundamental: 1.5; valuation: 1.5) said the five banks providing the facility are CIMB Investment Bank Bhd, Maybank Kim Eng Securities Pte Ltd, Oversea-Chinese Banking Corp Ltd, Standard Chartered Bank, and United Overseas Bank Ltd.

Yinson closed 8 sen or 2.81% higher today, at RM2.93 a share, for a market capitalisation of RM2.94 billion.

Food and beverage outfit Fraser & Neave Holdings Bhd (F&N) has acquired a 21.3-acre parcel of land for RM26 million in Kota Kinabalu, Sabah to build a new beverage plant worth RM85 million to cater for growing demand in Sabah and Sarawak.

F&N (fundamental score: 2.1; valuation score: 0.9) said the plant is scheduled to be operational within the next six years, with capacity to double its current output.

With an annual capacity of four million cases of polyethylene terephthalate (PET) beverages to service Sabah and Sarawak markets, F&N said its current plant in Kota Kinabalu is nearing its full capacity.

F&N shares closed unchanged at RM18.40 today, for a market capitalisation of RM6.74 billion.

Matrix Concepts Holdings Bhd's wholly-owned unit BSS Development Sdn Bhd has acquired 15 parcels of freehold agricultural land in Negeri Sembilan for RM27.5 million cash.

In filing with Bursa Malaysia today, the acquisition of these land happened between June 18, 2014 and March 12, 2015, by entering into separate sale and purchase agreements with the land owners.

Matrix Concepts (fundamental: 2.6; valuation: 2.4) also said the purchase of the lands totalling 79 acres will be funded by internally generated funds.

The counter appreciated two sen or 0.69% to RM2.92, for a market capitalisation of RM1.33 billion.

Oil and gas (O&G) engineering equipment and services provider Tanjung Offshore Bhd has filed a defamation suit against its suspended director Tan Sri Tan Kean Soon and six others seeking damages of RM100 million for remarks Tan made in articles published in the media on Feb 9.

Apart from Kean Soon, the other defendants are Datuk Dr Nik Norzrul Thani N. Hassan Thani, Datin Norhafizah Mohd Nordin, Datuk Rosman Hassan, Datuk Norazman Hamidun, Datuk Maheran Mohd Salleh and Tan Sam Eng.

In a statement today, Tanjung Offshore (fundamental: 1.85; valuation: 0.6) said the suit was filed on Feb 24 and served on the seven defendants' respective solicitors on Mar 12 by the company and its three independent non-executive directors namely George William Warren Jr, Datuk Ab Wahab Ibrahim and Shahrizal Hisham Abdul Halim.

Apart from monetary award, Tanjung Offshore is also seeking an apology from the seven defendants to be published in the newspapers concerned and online media.

Tanjung Offshore shares fell one sen or 1.9% to close at 51.5 sen today, giving it a market capitalisation of RM196.96 million.

Quill Capita Trust has obtained unitholders' consent to acquire Platinum Sentral from major shareholder Malaysian Resources Corp Bhd (MRCB) at RM740 million.

Subsequent to the unitholders' general meetings today, Quill Capita Management Sdn Bhd's acting chief executive officer Yong Su-Lin told pressmen that the acquisition would increase Quill Capita (fundamental: 0.55; valuation: 3.0)'s assets to RM1.6 billion, from RM868 million, making the group the eighth largest listed real estate investment trust (REIT) in Malaysia.

Yong also said the REIT currently has an appetite to double its property assets to RM3.2 billion in the next two years.

The expansion, according to Yong, would be done via the acquisition of commercial buildings from MRCB (fundamental: 0.6; valuation: 0.6) and Quill Group.

Quill Capita's unit rose one sen or 0.82% to RM1.23 today, valuing the REIT at RM475.96 million.

MRCB's share prices fell three sen or 2.26% to RM1.30, with 1.64 million shares traded. It has a market capitalisation of RM2.38 billion.

Berjaya Media Bhd, which publishes theSun newspaper, posted a net loss of RM5.2 million for the third financial quarter ended Jan 31, 2015 (3QFY15) compared with a net profit of RM1.44 million a year ago, on lower advertising income.

Berjaya Media's (fundamental: 2.35; valuation: 1.2) revenue for 3QFY15 fell 17.8% to RM13.29 million from RM16.17 million in 3QFY14.

For the nine-month period (9MFY15), it recorded a net loss of RM3.23 million compared with a net profit of RM3.96 million a year ago; revenue was 6.62% lower at RM42.61 million in 9MFY15 from RM45.63 million in 9MFY14.

The group's shares closed unchanged at 41.5 sen apiece today, with a market capitalisation of RM97.56 million.

Mattress maker Lee Swee Kiat Group Bhd today received an unusual market activity (UMA) query from Bursa Malaysia on the recent sharp rise in its share price and traded volume.

Subsequent to the UMA, the group announced that its wholly-owned subsidiary had on Mar 3 entered into an agreement to purchase several intellectual property from one of its products' licensor Englander Sleep Products LLC for US$1.25 million (RM4.57 million).

As the sales of this brand make up about 20% of the group's total turnover, Lee Swee Kiat Group (fundamental: 1.7; valuation: 1.8) is of the view that such an outright acquisition is expected to contribute positively in the medium and long term of its progress.

In its third filing to the bourse today, the company said that it is not aware of any rumour or possible explanation that may have contributed to the unusual market activity other than the agreement with Englander Sleep Products.

Lee Swee Kiat Group had seen its share prices skyrocket since early March this year.

From 18.5 sen on Mar 4, the stock has risen 86.5% to close at 34.5 sen today for a market capitalisation of RM52.9 million. A total of 54.15 million shares of the company were traded today.

CIMB Group Holdings Bhd (fundamental: 1.05; valuation: 2.1), the country's second largest lender by assets, has announced senior management changes within its group.

Tigor Siahaan, who possessed over 20 years of experience with Citi Indonesia, has been nominated to head up CIMB's 97.9%-owned Indonesian unit PT Bank CIMB Niaga. Upon receiving all approvals, he will be replacing Arwin Rasyid who has expressed his intention to retire.

Effendy Shahul Hamid, who joined CIMB since 2004, will assume the role of chief executive officer (CEO) of CIMB group asset management and investments.

Kwan Keen Yew, meanwhile, has been named group chief compliance officer. Kwan has over 15 years of legal and compliance experience and was most recently the head of legal and compliance at Standard Chartered Bank Malaysia.

CIMB shares closed five sen or 0.86% higher at RM5.85 today, with 10.67 million shares done, giving it a market capitalisation of RM48.86 billion.

Wintoni Group Bhd's shareholders were advised to exercise caution in the trading their shares and warrant stock, WINTONI-WA, following the recent sharp rise in the prices of both counters.

Wintoni (fundamental: 2; valuation: 0.3) is a business solution provider and designer of automation systems.

Bursa Malaysia had on Feb 26 issued a UMA query to the group, to which the company replied it was unaware of any corporate development or explanation for the unusual trading in its shares.

Compared with the group's share price of 8.5 sen back in Feb 12, the counter has gained 31 sen or 365% to the closing price today.

Wintoni rose five sen or 14.5% today to close at 39.5 sen, bringing its market capitalisation to RM176.99 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

 

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