Redtone: Redtone’s China ’s operations contributed 16% to Redtone’s top line in 2010 and was the most profitable segment, posting. Now into 2QFY2011, China looks set to contribute more to Redtone’s bottom line.
Maybank: Maybank has sent out a request for proposals for the secondary placement of at least 17% block in BII, which could net some rm2.35 billion in proceeds. Maybank has until June 2011 to reduce its stake in BII to 80%, hence the placement are likely to be done in the next few months (Feb 2011-June 2011).
Kencana: Kencana plans to finance the US$200 million required to jointly develop and operate the Berantai oil and gas field through an equity/debt fund raising exercise. The detailed breakdown between the various sources of funding has yet to be determined at this juncture, pending completion of the company’s proposed fund raising exercises in its entirety.
Sarawak & General Election: Najib meets Umno division leaders in mod Feb 2011 ahead of polls. Prime Minister Najib Abdul Razak starts his meet with the Umno division leaders in Kuala Lumpur this morning with the Kedah contingent kicking off the proceedings. Prime Minister Najib Abdul Razak in mid Feb 2011 hinted at the Sarawak state elections are around the corner, saying that Chief Minister Abdul Taib Mahmud is “inspired”. The Prime Minister says the Sarawak Chief Minister Abdul Taib Mahmud has received a "certain inspiration" on when to call for polls.
Meanwhile key infrastructure works in SCORE will be intensified with the award of several major road projects said to be worth some RM2bil. These projects include access roads to the proposed hydroelectric dams in Kapit and Limbang and to a coal mine in Kapit. Tenders for these projects were closed between August and October 2010. It is understood that leading construction firms from Sarawak and Peninsular Malaysia were among the bidders. Sarawak Infrastructure Development andCommunications Minister Datuk Michael Manyin said the Public Works Department was evaluating the various tenders. It is learnt that Hock Seng Lee Bhd (HSL) and Naim Holdings Bhd are among the bidders for the road projects.
HSL: 2.32 (OSK), 1.90 (MBB), 2.28 (AMResearch), 2.30 (MBB)
Naim: 5.09 (AMResearch), 3.52 (OSK), 4.10 (Kenanga)
The Sarawak Election Stocks: CMSB, KKB Eng, Naim, Dayang, TA Ann, Sarawak Plantations, Encorp, Zecon, Sarawak Cable, Sarawak Consolidated, SIG Gases, Petra Energy
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