Sabah & Sarawak
Drop in Sarawak’s total export of logs, timber products
Sarawak’s total export value of logs and timber products for the first quarter of 2015 has decreased by seven per cent (worth RM1.65 billion) compared with RM1.76 billion during the same period last year.
A statement from the Sarawak Timber Industry Development Corporation (STIDC) said the decrease included logs (four per cent), sawn-timber (two per cent), plywood (14 per cent), dowel (66 per cent), laminated board/flooring (30 per cent), particle board (28 per cent) and woodchips (53 per cent).
CMS’ 1Q pre-tax profit up 44 per cent to RM95.01 million
Cahya Mata Sarawak Berhad reported strong performance for the first quarter ended March 31, 2015 (1Q15) with total revenue of RM491 million for 1Q15, a 32 per cent increase from the preceding year’s corresponding quarter’s (1Q14) revenue of RM373.24 million.
SOP results well below expectations, weak results priced in
Sarawak Oil Palms Bhd (SOP) revealed a core net profit of RM5.5 million which only fulfilled four per cent of Maybank Investment Bank Bhd’s (Maybank IB Research) 2015 forecast, well below expectations.
Sarawak Cable likely to gain from RM4 billion Baram dam
Sarawak Cable Bhd is slated to gain from the government’s plan to proceed with the construction of the Baram dam.
Over the weekend, it was reported that the Sarawak state government will proceed with the construction of the RM4 billion Baram dam with Chief Minister Tan Sri Adenan Satem saying he had secured the support of majority of the community leaders in Baram to proceed with the project.
More property launches expected from Suria Capital this year
Suria Capital Bhd (Suria Capital) is slated to launch more properties in Sabah this year on the back of its upcoming results.
Press Metal likely to overcome latest hurdle in Bintulu plant
Analysts believe Press Metal Bhd (Press Metal) will be able to pull through its latest incident at its subsidiary’s plant in Bintulu given the group’s strong cash flow and management. Press Metal in a statement to Bursa Malaysia said a fire had occurred at its smelting plant belonging to its subsidiary, Press Metal Bintulu Sdn Bhd in Samalaju Industrial Park, Bintulu. This led to a shutdown of the plant.
HSL records pre-tax profits of RM26.26 million
Hock Seng Lee Bhd (HSL) achieved commendable first quarter financial results with net pre-tax profit rising to RM26.26 million on the back of revenue of RM186.46 million for the three months ending 31 March 2015.
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National
EPF says no risk in the 1MDB bond it invested
The RM200 million bonds subscribed by Employees Provident Fund’s (EPF) from 1Malaysia Development Bhd in 2009 is not risky as it is guaranteed by the government.
MEPS establishes ceiling of 50 sen for real-time IBFT service fee
Malaysian Electronic Payment System Sdn Bhd (MEPS), an interbank network provider, set the ceiling for its real-time Interbank Funds Transfer (IBFT) service fee at 50 sen. It is a reduction of 50 per cent to 88 per cent from the current fee range of between RM1 and RM4.
Dolphin’s listing to grow palm oil machineries sector
The coming listing of Dolphin International Bhd (Dolphin) will aid the group’s growth in the the design, development, fabrication and sale of products within the palm oil milling machineries sector.
Dolphin on Wednesday launched its prospectus for its Initial Public Offering (IPO) of 46 million ordinary shares of RM0.20 each in conjunction with its listing on the Main Market of Bursa Malaysia Securities Bhd.
Real GDP to expand five to six pct during 11MP
Real gross domestic product (GDP) is expected to expand between five and six per cent per annum from 2016-2020, resulting in a 7.9 per cent per annum rise in gross national income (GNI) per capita.
Economic growth would be anchored by robust expansion in private consumption and investment, said the Economic Planning Unit (EPU) of the Prime Minister’s Department in the Eleventh Malaysia Plan (11MP).