Mtronic: Its executive vice chairmanDatuk Abd Gani sold a 15.75% equity stake, trimming his shareholding to 9.71%. The share disposal may pave the way for emergence of a major shareholder in the loss making company. However, there was no announcement on new shareholders new shareholders in Mtronic.
On the other had, the selling by an insider also poses a question on the prospect of the company. After divestment, Abd Gani remains the largest shareholder in Mtronic. The company largest shareholder is executive director Liew Chiap Hong who holds 6.28%.
It specializes in IT management systems. Its concession with Lai’An Country Water Utility Board, China ws terminated in Aug 2010 due to a delay by the Water Utility Board in completing the transfer of land title for the project.
The company has been bleeding since 2008 and its financials seem to be no better in FY2010. As at Sept 2010, its total borrowings stood at rm13.71 million with cash and cash bank balances of rm4.67 million.
Faber: Growing concerns on its earnings prospects sparked selling its shares price after its two integrated fcilities in the Gulf was not renewed. The news also raised worries on the renewal of the group’s other contracts locally and abroad resulting in downgrades. However, there may be a ray of hope for Faber to win back the contracts later when the authorities open them for re tendering. Faber will bid for them. Contributions from the UAE is expected to account for some 25% of the group’s total. For nine months period ended Sept 30, 2010, these contracts had contributed some rm200 million to Faber’s revenue.
Faber’s local hospital support services concession will expire in Oct 2011. A renewal of the concession would provide it a major boost for Faber’s especially if it comes with a tariff hike.
Recent news report suggest that several parties are eyeing parts of the concession, namely the Sabah and Sarawak portions. Faber’s 15 year HSS concession covers public hospitals in the northern region of Malaysia , Sabah and Sarawak .
Faber is a GLC and its HSS concession has been run very profitably and efficiently.
Faber: 3.39 (OSK), 2.00 (HDBS), 3.82 (RHB), 3.52 (Inter Pacific), 3.60 (MIDF), 2.90 (S&P)
No comments:
Post a Comment