JIT News - UEM L/Mulpha/Tebrau,SP Setia,Hubline,Suria C,TC, MasterSkill.. 14/1/2011

UEM Land Bhd, Tebrau Teguh Bhd and Mulpha International Bhd are among Malaysian property companies that will benefit from a “re-pricing” of the land and property values in the southern Johor state. The re-rating of the Johor property play started following the negotiation of the land swap deal between Singapore and Malaysia . The re-rating process was further accelerated by the introduction of the Government’s economic transformation program.

SP Setia: Sources say SP Setia is likely to get a 30-year concession to build and operate the Penang International Convention Centre It has emerged as the leading contender to build the Penang International Convention Centre (PICC) on the grounds of the Penang International Sports Arena ( Pisa ).

Hubline: RAM Rating Services Bhd has reaffirmed the ratings of Hubline’s RM220 million debt notes but revised the outlook on the long-term ratings from stable to negative.The outlook may be revised to stable if Hubline is able to demonstrate sustainable improvement in its financial profile on the back of improved cargo volumes for its dry-bulk shipping services and its ability to command better freight rates for its niche routes. On the other hand, Hubline’s ratings could be downgraded if it experiences prolonged deterioration in its financial metrics.

Suria Capital: It and its partners have secured a RM1 billion contract to build a 300MW power plant in Kimanis, Sabah . Its unit SCHB Engineering Services Sdn Bhd and its partners CTCI Corporation, CTCI Overseas Corporation Ltd, CTCI Malaysia Sdn Bhd and Steamline ( Malaysia ) Sdn Bhd were awarded the contract by Kimanis Power Sdn Bhd.

The contract is expected to contribute positively to the earnings of SCHB Engineering for the financial year ending Dec 31, 2011. The contract does not have any material effect on the net assets per share, share capital and substantial shareholders' shareholding of Suria Capital.

Tan Chong Motor: It saw 4.75 million shares transacted in several off-market deals at an average price of RM5.35 apiece.

Masterskill: FMR LLC and FIL Ltd sold more shares disposed of 2.42 million shares on Jan 6 2011 and 1.33 million shares on Jan 7, 2011, reducing its shareholding to 29.74 million shares or 7.26%.