The week at a glance 28 May 2017

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Sabah & Sarawak

Aiman Group returns to Sarawak’s O&G sector

The Aiman Planet Borneo Group is returning to Sarawak’s  oil and gas scene with six separate memorandum of understanding (MOU) signings between its local subsidiary, Expro Marine Sdn Bhd and various international and local partners. The signing ceremony was officiated by Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan, witnessed by Aiman Group chairman Samat Othman.

 

TM committed to spearhead ICT development in Sarawak

Telekom Malaysia Bhd is committed to spearheading the development and implementation of information and communications technology in Sarawak through TM’s end-to-end integrated solutions and service portfolio.

 

Repsol’s Bunga Pakma, Kinabalu projects on track

Repsol Oil and Gas Malaysia Ltd’s Bunga Pakma development and Kinabalu redevelopment offshore oil platform projects are on track for their transportation and installation phases.

 

Ta Ann’s plantations division to drive growth

Ta Ann Holdings Bhd’s  first quarter of 2017  results came above expectations, driven by its plantations division which is also expected to continue supporting the group’s growth going forward.

 

Bintulu Port’s 1Q17 results broadly within expectations

The first quarter results of 2017 (1Q17) for Bintulu Port Holdings Bhd’s (Bintulu Port) have been viewed by analysts as mostly positive and broadly within expectations.

 

A new high for HSL’s order book in 1Q

Hock Seng Lee Bhd (HSL) has had a productive start to the year in terms of both project execution and procurement, with RM346 million in new works added to HSL’s books in the first quarter of 2017. This brings the value of HSL’s projects in hand to a high of RM2.8 billion, with RM2.4 billion of that unbilled.

 

Bumpy road ahead for Harbour-Link on slowing sectors, cabotage policy scrap

Harbour-Link Group Bhd (Harbour-Link) still faces many challenges ahead due to the slow engineering, procurement, construction, and commissioning market.

Maybank Investment Bank Bhd’s research arm said the outlook for Harbour-Link is also getting tough due to the scrapping of the cabotage policy with effect from June 2017, which may result in foreign shipping operators competing for the niche East-West Malaysia cargoes.

 

TSH’s value emerging, earnings growth to exceed 50 pct in FY17

Sabah-based TSH Resources Bhd is starting to show solid improvements in its earnings and analysts believe the group’s growth could exceed 50 per cent in the financial year 2017.

 

National

CabNet makes firm debut on Ace Market

CabNet Holdings Bhd made an encouraging debut on the Ace Market of Bursa Malaysia on Mondday at 68 sen, a 12 sen premium above its issue price of 56 sen. The total solutions provider for building management solutions, which had an oversubscription rate of 48.32 times during balloting, saw 2.49 million shares changing hands at the opening bell.

 

Lotte Chemical sets ceiling price for US$1.4 billion IPO

Malaysia’s Lotte Chemical Titan Holding Bhd has set a ceiling price of RM8 a share for its planned IPO, giving it a total size of up to RM5.9 billion, IFR Asia reported, citing three sources with knowledge of the deal.

The listing could be one of the biggest IPOs in years in Malaysia, which has not seen any listing of US$1 billion and above since the US$1.5 billion IPO of Astro Malaysia Holdings Bhd back in 2012.

 

Geely to own 49.9 per cent of Proton

DRB-Hicom Bhd has reached an agreement with China-based Zhejiang Geely Holding Group Co Ltd  for the Chinese car group to acquire 49.9 per cent equity in Proton Holdings Bhd.

DRB-HICOM currently owns 100 per cent of the manufacturer of the first national car. The two parties signed the agreement in Putrajaya, witnessed by Datuk Seri Johari Abdul Ghani, the Second Minister of Finance.

 

Maybank on track to recovery this year

Improvements in Malayan Banking Bhd’s results for the first quarter of 2017  indicate that the bank is on track to a recovery.

The research arm of Kenanga Investment Bank Bhd noted that Maybank’s core net profit of RM1702.8 million (an increase of 19.3 per cent year-on-year) was in line with expectations.

 

Malaysia Airlines sees 12.9 pct increase in passenger load in 1Q

Malaysia Airlines passenger bookings continued to accelerate in the first quarter this year, up 12.9 per cent, year-on-year to 3.57 million passengers, despite the challenging environment due to higher fuel prices and adverse foreign exchange.