Sabah & Sarawak
Jumbo sukuk swells Malaysia’s infrastructure bond pipeline
The Pan-Borneo Highway in East Malaysia, a jumbo project estimated to cost RM27 billion, is finally starting to take shape as the federal government prepares to launch initial funding to kick off formal construction. A group of banks has been selected for the first issue. Although names have not been disclosed as the mandate has yet to be formalised, the group includes the four top Malaysian lender – CIMB, AmInvestment Bank, Maybank and RHB.
Core logistics division continues to boost Tiong Nam
Tiong Nam Logistics Holdings Bhd (Tiong Nam) is poised to benefit from the rising logistics outsourcing and growing e-commerce fulfilment demand as Malaysia’s largest total logistics solution provider. This comes as Affin Hwang Investment Bank Bhd initiate coverage on the group with a buy call and a target price of RM2.10 per share.
Bintulu Port inks MOU for integrated O&G supply facility
Bintulu Port Authority on Wednesday entered into a joint venture agreement with Bintulu Supply Base Sdn Bhd to develop an integrated oil and gas supply facility that will increase the state’s participation in the O&G industry. The first phase of the Bintulu Integrated O&G Supply base Complex will begin next year and is scheduled to be completed by the third quarter of 2019.
Labuan landscape to evolve, change, says MP
The Labuan landscape is expected to evolve and change significantly with the implementation and completion of a development blueprint. Member of Parliament for Labuan, Datuk Rozman Isli said the Labuan Corp was preparing the comprehensive and detailed blueprint and Prime Minister Datuk Seri Najib Razak was expected to launch it towards the year-end.
Jaya Tiasa records highest FFB production for June
Jaya Tiasa Holdings Bhd (Jaya Tiasa) achieved a new record as its fresh fruit bunches (FFB) production reached a new high of 103,074 metric tonnes (MT) in June this year.
AmInvestment Bank Bhd said the highest FFB production has brought the company’s financial year 2016 (FY16) ended June 2016 harvest to a total of 932,000MT.
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National
Turkey’s failed military coup create headwinds for MAHB as shares fall
Shares in Malaysia Airport Holdings Bhd (MAHB) fell following news of an attempted military coup on Friday night, whereby clashes happened in major city Istanbul and Ankara, leaving nearly 200 death and 1,000 wounded.
France wants to be fair to palm oil, soyaoil producers
The French government wants to be fair to palm oil and soyaoil producers, said France’s Ambassador to Malaysia, Christophe Penot. The move followed objections from Indonesia and Malaysia, the world’s largest crude palm oil (CPO) producers, to France’s plan to impose an additional tax on CPO imports and other palm oil-based products by 2017.
Indonesia moratorium on new palm planting to include existing plantations
Indonesia plans to issue in August a five-year moratorium on new palm plantations that will include a halt to approvals to extend planting into forested areas inside existing concessions, threatening output growth and palm oil investment. The moratorium will cover around 3.5 million hectares, according to the Environment and Forestry Ministry, starting with 950,000 hectares that are being proposed by plantation companies for expansions.
PPB shares fall after Wilmar issues profit warning
PPB Group Bhd’s share price declined after its Singapore associate, Wilmar International Ltd, issued a profit warning for its second quarter of 2016 (2Q16) result. PPB’s 18 per cent-owned associate Wilmar International Ltd (Wilmar), has issued a profit warning based on unaudited second quarter of 2016 (2Q16) results that the group is expected to report net losses of approximately US$230 million for the quarter.
Dancomech debuts at 80 sen on main market, premium of five sen
Main market debutante, Dancomech Holdings Bhd opened at 80 sen, for a premium of five sen on Thursday, over its issue price of 75 sen per share with 3.072 million shares traded. The company, mainly involved in trading and distribution activities of the Process Control Equipment (PCE) and Measurement Instruments market, planned to raise RM18 million from its initial public offering.
Perodua’s market share to rise to 37.2 pct with Bezza
Perusahaan Otomobil Kedua Sdn Bhd’s (Perodua) market share is poised to rise to 37.2 per cent from the current 35.5 per cent, underpinned by the launch of the new ‘Bezza’, as well as the expected softness of the Total Industry Volume (TIV) this year.
President and chief executive officer Datuk Dr Aminar Rashid Salleh said Perodua expects to maintain its total sales this year at 216,000 based on demand for the new sedan.