Thursday, January 12, 2012

JCY Jan 2012

JCY stated that it is likely to record a surge in earnings for the quarter ended Dec 31, 2011. Based on current available information, the group was likely to record an increase in net profit for the financial quarter ended Dec 31, 2011 of approximately 1900% compared with a year ago when profit was rm7.5 million.

For the quarter ended Dec 31, 2011, it expected net profit to be an increase of 460% compared with the quarter ended Sept 30, 2011’s net profit of rm26.4 million.

It cited the surge in earnings to an increase in selling prices caused by component shortages arising from the Oct 2011 floods in Thailand , effecting product mix, appreciating US dollar against the ringgit and continuous efficient cost management.

To cater for the increase in the component demands from the company’s major customers, the board of directors has approved a capex budget of approximately rm300 million over the next 24 months period, for expansion of its facilities in Malaysia , Thailand and China .

It also said barring any unforeseen factors, the company expects to be able to increase its global market share of HDD mechanical component industry over the next 24 months.

Tuesday, January 10, 2012

Menang Jan 2012

Menang: Menang saw 12 million shares crossed in several off market deals on 05 Jan 2012. Data showed the shares, representing a 4.49% stake were crossed at average price of 22 sen. On Dec 27, 2011, Menang group deputy chairman Datin Mariam increased her shareholding in the company with the recent acquisition of 20 million shares or a 7.48% stake. She bought the shares from the open market at 20 sen on Dec 27, 2011 which increased his shareholding to 26.18% stake.

Sunday, January 8, 2012

BHIC/Bstead jan 2012

BHIC/Bstead: BHIC reiterated that it has not received any indication or direction from its shareholders with regards to any major acquisition of shares in the company. Boustead Holdings Bhd is the major shareholder of BHIC. Earlier market talk of a possible privatization of BHIC. According to reports, while BHIC’s parent Bstead denied talks that it was planning to privatize the former, it then emerged that LTAT could be the vehicle to be used. LTAT’s chief executive did not denied the possibility of the Armed Forces fund taking BHIC private. However, the matter would have to be collectively deliberated on by LTAT’s board of directors. LTAT holds direct 8.15% stake in the company and indirect stake of 65% via Bstead. BHIC’s net asset per share as end of Sept 2011 was rm1.71.