JIT News - MPHB, Lion Group, Genting, YTL Pwer ...

MPHB: The MCA is said to be keen on buying MPHB’s Menara MPHB. It is learnt that the price tag could be in the range of rm350 million to rm400 million. The agreement is being drafted now. Should the deal be sealed, MPHB may be able to sprung a surprise by declaring generous dividend to shareholders.

Lion Group: Tan Sri Rafidah Aziz is expected to be named Megasteel Sdn Bhd’s new chairman as the company seeks an additional 35% duty of imported HRC, which currently have zero duty when imported from within Asean. If sourced elsewhere, a 25% tariff is levied.

One of the key electricity transmission projects in Sarawak is the 500kV Bunut-Kuching line, which will connect all the smaller transmission lines there. SCB is part of a consortium bidding for the roughly rm2.5 billion job to build transmission lines and substations on the 600 km line. The consortium has reached the pre qualification stage and that the winner will be announced later 2011.

Genting Bhd bought some 2.63 million shares at between RM10.02 a share and RM10.22 a share. In total, Genting spent more than RM26.8 million to buy back its own shares in 09 Aug 2011. IOI Corp Bhd bought 1.77 million of its own shares at between RM4.68 and RM4.81 a piece. In total, the company had spent some RM8.4 million in 09 Aug 2011.


YTL Power: The Employees Provident Fund (EPF), the second largest shareholder of YTL Power, disposed of 30.13 million shares from June 30 up to Aug 4 2011.Filings with Bursa Malaysia showed the EPF’s stake was reduced to 729.17 million shares or 10.09% from 759.31 million units or 10.51%. The 30.13 million shares accounted for 0.42%. The share price was trading from RM2.20 to RM1.97 as at Aug 4 2011. The largest shareholder is YTL Corp with 44.98% or 3.275 billion shares.

JIT News - Genting SP/Genting Bhf,Premium,PUC,kencana,BHIC ... 8/2/2011

Genting Bhd/Genting SP: Concerns of a possible reduced volume in its VIP customers at Genting SP resort caused its share prices to fell. A leading research house revised Genting’s performance forecasts came after Sands Corp reported q-to-q drop in its VIP gaming business in its Singapore casino Marina Bay Sands, sparkling concerns that RWS could see similarly weak performance.

Genting SP: S$1.55 (JP Morgan), S$1.75 ( Macquarie ), $3.00 (CLSA), CITIgroup $2.60, $1.01 (Nomura), S$2.38 (OCBC), S$2.55 (RHB), S$1.73 (Goldman Sachs), S$2.60 (AMResearch)


Premium Nutrients: It has received an offer from Indonesia incorated Agro Asia Pacific Ltd to take over Premium’s core businesses for a total rm118 million. Should Premium accept the offer, it would be formalized in the form of a share sale agreement. The current offer values each share at about 35 sen. This does not take into account long and short term borrowings of rm194 million. It has cash of rm42 million and receivables of rm95 million as at Sept 30, 2010.


PUC: London ’s AIM RedHot Media Intl Ltd’s move to take control of PUC will enable it to tap the latter’s major shareholder’s presence in China ’s media and advertizing industry. The corporate exercise would see RHM disposing of three subsidiaries to PUC for rm95 million. In return PUC would issue 950 million new shares of 10 sen each to RHM.

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.


BHIC: Expectations the ship builder could secure more government defence contracts. Defence Minister Datuk Seri Dr Ahmad Zahid Hamidi said the government has agreed to allocate RM6 billion to build six second generation patrol vessels for the navy. Construction of the ships will boost the economy while benefiting 632 vendor companies. Thus, the government will ensure that at least RM2 billion of the allocation will benefit these vendor companies which are strategic partners of Boustead Naval Shipyard Sdn Bhd. The project is due to start next year (2012).

BHIC: 5.50 (AMResearch), 4.40 (HDBS)

Just-In-Time News - Genting Bhd/Genting Mal, 31/1/2011

Genting Group: The Genting group is making a bid for Pan Malaysian Pools Sdn Bhd. It is not known the price that Genting group is paying, sources said its bid is in the highest end among bids that have been submitted.  The next question is which company in the group will be the vehicle to acquire the asset? From the balance sheet, it appears Genting and Genting Malaysia should have no difficulty in financing the purchase since the two listed entities can afford to gear up.

Genting’s cash and cash equivalent stood at rm15.3 billion while it had borrowings of rm14.5 billion. Genting Malaysia is in a net cash position. Its cash pile stood at rm4.5 billion against borrowings of rm619 million.