My Malaysia Stockfolio-From RM10,000 to RM100,000

Hua Yang to raise RM100m to buy land

2012-02-09T23:50:00.002+08:00

Property developer, Hua Yang Bhd, plans to raise RM100 million capital to fund its land acquisition activities this year.

Chief executive officer Ho Wen Yan said the amount was three times the size of capital expenditure (capex) spent last year for buying land.

"With the RM100 million capex, we are hoping to generate RM800 million to RM1 billion in gross development value," he told reporters at a media luncheon here today.

The developer is eyeing to acquire up to 300 acres of land in Penang and Sabah for township development.

However, the fund-raising exercise was still being discussed and has not been determined yet, Ho said.

To date, Hua Yang has a total landbank of 780 acres in Johor, Perak, the Klang Valley and Negeri Sembilan worth RM2.4 billion.

On the company's outlook for this year, he said Hua Yang is
expected to remain strong despite the softening demand for properties in some areas in Kuala Lumpur city centre and Klang Valley.

"Generally, affordable housing, which is our segment, will remain strong in the upcoming year," he said.

Among the factors that would contribute to Hua Yang's performance in 2012 are its ability to maintain low cost structure and the location of its developments, which are not in the high-priced prime areas.

In another development, Ho said the company is expected to declare a better dividend payout this financial year ending March 31 compared to 7.5 sen last year.

"We don't have a fixed dividend policy but typically we return up to 25 per cent of net profit back to shareholders," he said, adding the absence of a fixed dividend policy provides the company the flexibility to grow

SUNREIT Q2 2012

2012-02-09T23:40:00.002+08:00

SUMMARY OF KEY FINANCIAL INFORMATION

31/12/2011

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2011	31/12/2010	31/12/2011	31/12/2010
		$$'000	$$'000	$$'000	$$'000
1	Revenue	110,737	85,333	205,776	157,778
2	Profit/(loss) before tax	50,761	45,236	94,625	355,874
3	Profit/(loss) for the period	50,761	45,236	94,625	355,874
4	Profit/(loss) attributable to ordinary equity holders of the parent	50,761	45,236	94,625	355,874
5	Basic earnings/(loss) per share (Subunit)	1.89	1.69	3.52	13.27
6	Proposed/Declared dividend per share (Subunit)	1.99	1.75	3.74	3.26

		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.0131		1.0151

Warren Buffett Explains Why Stocks Are Obviously Better Than Gold

2012-02-09T22:59:00.000+08:00

Warren Buffett watchers won't be surprised by the news that the Berkshire Hathaway CEO is not a fan of gold, and instead prefers investments in real productive enterprises. In the latest issue of Fortune, Buffett has a "preview" of his upcoming annual shareholders letter, which will come out in late February.
In it he acknowledges his dislike of currency based investments, given the ongoing devaluation of the dollar and so on.
But contra many, who like gold as a hedge against devaluation and instability, Buffett still likes companies.
And he provides a simple argument for why.

Today the world's gold stock is about 170,000 metric tons. If all of this gold were melded together, it would form a cube of about 68 feet per side. (Picture it fitting comfortably within a baseball infield.) At $1,750 per ounce -- gold's price as I write this -- its value would be about $9.6 trillion. Call this cube pile A.

Let's now create a pile B costing an equal amount. For that, we could buy all U.S. cropland (400 million acres with output of about $200 billion annually), plus 16 Exxon Mobils (the world's most profitable company, one earning more than $40 billion annually). After these purchases, we would have about $1 trillion left over for walking-around money (no sense feeling strapped after this buying binge). Can you imagine an investor with $9.6 trillion selecting pile A over pile B?

Beyond the staggering valuation given the existing stock of gold, current prices make today's annual production of gold command about $160 billion. Buyers -- whether jewelry and industrial users, frightened individuals, or speculators -- must continually absorb this additional supply to merely maintain an equilibrium at present prices.

A century from now the 400 million acres of farmland will have produced staggering amounts of corn, wheat, cotton, and other crops -- and will continue to produce that valuable bounty, whatever the currency may be. Exxon Mobil (XOM) will probably have delivered trillions of dollars in dividends to its owners and will also hold assets worth many more trillions (and, remember, you get 16 Exxons). The 170,000 tons of gold will be unchanged in size and still incapable of producing anything. You can fondle the cube, but it will not respond.

Influenza cases expanded by 620,000

2012-02-09T13:57:00.001+08:00

TOKYO, Feb. 5 (NNN-Xinhua) — Influenza cases expanded by 620,000 to hit an estimated 1.73 million in the past week beginning Jan. 29, a major Japanese newspaper reported on Sunday, citing the National Institute of Infectious Diseases.

Patient numbers roared in all 47 prefectures as the nation experienced its first outbreak of H3N2, a subtype of the influenza A virus, in five years, The Japan Times reported.

About 90 percent of the patients were diagnosed with the strain, the paper said.

It added that some 260,000 ****es and infants under 4, who were born after the previous H3N2 outbreak, had been diagnosed with the virus.

According to the institute, flu infections usually peak at this time of the year. — NNN-Xinhua

PAVREIT Income Distribution

2012-02-08T23:10:00.002+08:00

EX-date

20/02/2012

Entitlement date

22/02/2012

Entitlement time

05:00:00 PM

Entitlement subject

Income Distribution

Entitlement description

Final Income Distribution of 0.44 sen per unit for the period ended 31 December 2011, of which 0.44 sen per unit is taxable in the hands of unitholders

Period of interest payment

Financial Year End

31/12/2011

Share transfer book & register of members will be

to closed from (both dates inclusive) for the purpose of determining the entitlements

Registrar's name ,address, telephone no

Tricor Investor Services Sdn Bhd
Level 17, The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Telephone no.: +603-22643883

Payment date

29/02/2012

a.	Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers

22/02/2012

b.	Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit

c.	Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.

Number of new shares/securities issued (units) (If applicable)

Entitlement indicator

Currency

Malaysian Ringgit (MYR)

Entitlement in Currency

0.0044

PAVREIT Q42011

2012-02-08T23:02:00.002+08:00

SUMMARY OF KEY FINANCIAL INFORMATION

31/12/2011

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2011	31/12/2010	31/12/2011	31/12/2010
		$$'000	$$'000	$$'000	$$'000
1	Revenue	22,539	0	22,539	0
2	Profit/(loss) before tax	12,376	0	12,376	0
3	Profit/(loss) for the period	12,376	0	12,376	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	12,376	0	12,376	0
5	Basic earnings/(loss) per share (Subunit)	0.41	0.00	0.41	0.00
6	Proposed/Declared dividend per share (Subunit)	0.44	0.00	0.44	0.00

		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.9600		0.0000

Kimlun wins RM223m MRT job

2012-02-08T22:58:00.002+08:00

Kimlun Corp won a RM223.2 million contract from Mass Rapid Transit Corp to supply segmental box girders to parts of the Malaysian mass rail network project, according to a statement to the Kuala Lumpur stock exchange.

Kimlun was appointed the designated supplier and the contract is expected to spread over a period of about 40 months, the company said

Hua Yang sees profit exceeding RM42m

2012-02-08T22:56:00.000+08:00

Property-based company, Hua Yang Bhd, is confident that net profit for the current year ending March 31, 2012, would be higher than the consensus of RM42 million.

"The consensus for our net profit is RM42 million. I think we should do better than that. It will be a strong year for us," its chief executive officer, Ho Wen Yan told Bernama.

IVORY-Multiple proposal

2012-02-08T11:09:00.000+08:00

Type : Announcement
Subject : MULTIPLE PROPOSALS

Description : IVORY PROPERTIES GROUP BERHAD ("IVORY" OR THE "COMPANY")

(I) PROPOSED PDA;
(II) PROPOSED JOINT VENTURE;
(III) PROPOSED RIGHTS ISSUE;
(IV) PROPOSED BONUS ISSUE;
(V) PROPOSED PROVISION OF FINANCIAL ASSISTANCE;
(VI) PROPOSED ACQUISITION;
(VII) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND
(VIII )PROPOSED AMENDMENTS

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

Announcement Details/Table Section :

We refer to the announcements on 11 November 2011, 5 December 2011, 30 December 2011, 6 January 2012, 9 January 2012 and 30 January 2012 in relation to the Proposals.

On behalf of the Board, OSK wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") has, via its letter dated 3 February 2012, granted its approval for the following:-

(a) Admission to the Official List and the listing and quotation of up to 186.0 million Warrants to be issued pursuant to the Proposed Rights Issue;

(b) Listing of 186.0 million Rights Shares to be issued pursuant to the Proposed Rights Issue;

(c) Listing of 186.0 million new Ivory Shares to be issued pursuant to the exercise of the Warrants;

(d) Listing of 46.5 million Bonus Shares to be issued pursuant to the Proposed Bonus Issue; and

(e) Listing of 40.0 million Consideration Shares to be issued pursuant to the Proposed Acquisition.

The approval by Bursa Securities for the Proposed Rights Issue is subject to the following conditions:-

(a) Ivory and OSK must fully comply with the relevant provisions under the Listing Requirements ("LR") pertaining to the implementation of the Proposed Rights Issue;
(b) Ivory and OSK to inform Bursa Securities upon the completion of the Proposed Rights Issue;

(c) Ivory to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Rights Issue is completed;

(d) Ivory to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of Warrants as at the end of each quarter together with a detailed computation of listing fees payable; and
(e) Ivory to furnish a copy of the approval letter from the Controller of Foreign Exchange (via Bank Negara Malaysia), for the issuance of Warrants to the entitled foreign shareholders pursuant to the Proposed Rights Issue.
The approval by Bursa Securities for the Proposed Bonus Issue is subject to the following conditions:-

(a) Ivory and OSK must fully comply with the relevant provisions under the LR pertaining to the implementation of the Proposed Bonus Issue;
(b) Ivory and OSK to inform Bursa Securities upon the completion of the Proposed Bonus Issue;

(c) Ivory to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Bonus Issue is completed

(d) Ivory and OSK are required to make the relevant announcements pursuant to paragraphs 6.35(2)(a) & (b), 6.35(3) and 6.35(5) of the LR; and

(e) Inform Bursa Depository on the actual number of bonus shares to be issued and the latest issued and paid-up capital of the listed issuer (after the bonus shares) when submitting the allotment information to Bursa Depository for the crediting of the new bonus shares

The approval by Bursa Securities for the Proposed Acquisition is subject to the following conditions:-

(a) Ivory and OSK must fully comply with the relevant provisions under the LR pertaining to the implementation of the Proposed Acquisition;
(b) Ivory and OSK to inform Bursa Securities upon the completion of the Proposed Acquisition; and

(c) Ivory to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Acquisition is completed.

In addition, Ivory is required to ensure full compliance of all the requirements as provided under the LR at all times and to furnish a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposals.

This announcement is dated 8 February 2012

Felda increases presence in North America

2012-02-08T10:59:00.002+08:00

OVERSEAS VENTURE: Unit partners New York-based Bunge for crushing and refining activities in Canada

FELDA Global Venture Holdings Sdn Bhd (FGVH) has made another milestone in spreading its oilseed crushing and refining business in North America by forming a strategic partnership with
Bunge Ltd, a leading global agribusiness and food company.

On December 12, New Yorkbased Bunge, through its North American unit, announced that it has formed a joint venture with the Canadian arm of FGVH, Twin Rivers Technologies-Enterprises
de Transformation Graines Oleagineuses du Qubec (TRT-ETGO), to combine commercial activities related to crushing and refining operations of their plants in Canada.

The joint venture, Bunge ETGO L.P, will handle the buying of oilseeds and selling of products for their crushers at Bunge’s Hamilton, Ontario plant and TRT-ETGO’s plant in Becancour, Quebec.

Bunge country manager in Canada, Rick Watson,said the joint venture creates an organisation that can more effectively serve the growing demand for canola and soy bean meal and oil in
the domestic and export markets.

“Managing the commercial aspects of both facilities as a single company provides a number of efficiencies, reducing the overall cost of running both facilities,” he said in a statement made available to Business Times.

According to the statement, the combined crush capacity of Bunge ETGO is two million tonnes per year and both plants are able to crush either canola seed or soyabeans.

While Bunge and TRT-ETGO will continue to own and operate
their respective facilities, the joint venture will be responsible for all commercial aspects of the business including oil seed procurement, product sales and risk management.

TRT-ETGO acting chief executive officer Wira Adam said the company is excited about the prospect of working with Bunge.

“Bunge will honour all open contracts and the new commercial team is looking forward to providing new marketing opportunities for customers.

"While the new commercial team includes employees from both companies, TRT-ETGO will be closing its trading office in Montreal and relocating a few employees to Becancour or the joint venture's office in Oakville, Ontario," he said.

However, financial terms of the transaction were not disclosed.

A news wire reported last Tuesday that Felda, the state-run plantation operator, is discussing a strategic alliance with five global trading houses, including Bunge, Archer Daniels Midlands Co and Cargill Ltd.

Quoting sources, the report said the strategic tie-up, likely to be in February, is expected to shore up investor interest ahead of Felda's US$2 billion (RM6 billion) listing of agribusiness arm Felda Global by mid-2012, turning it into a trading powerhouse dealing in palm oil and rubber.

Felda, which accounts for 8 per cent of global palm oil output, is keen to tap that growing interest as it seeks to widen market access and monetise its assets.

Read more: Felda increases presence in North America http://www.btimes.com.my/Current_News/BTIMES/articles/20120208010211/Article/index_html#ixzz1lkuNTVth

Forget Europe, U.S. Stocks Will Rise 10% This Year: Ablin

2012-02-07T23:47:00.002+08:00

The news from Europe seems worse by the minute as negotiations between Greece and international lenders continue to drag along, leaving investors to wonder whether stocks can remain oblivious to the overseas situation.

According to Jack Ablin of Harris Private Bank, stocks are actually pricing the European crisis in, and that's the only reason we aren't up even more than we are. By Ablin's math, international turmoil masked a recovery story in the U.S. that should have pushed domestic markets to near double-digit gains in 2011.

"With earnings growth the way it was and revenue growth the way it was, I think the S&P500 should have been up about 9.5% in 2011," says the chief investment strategist in the attached clip. The under-performance on the equity side of the asset class equation has Ablin scratching his head over some dislocations.

Pointing to GlaxoSmithKline (GSK), Ablin points out that the company's debt is actually yielding much less than its 4.8% dividend. This arguably isn't "supposed" to happen, the fact it is has Ablin chomping at the bit to get long. At least to a point.

With the lost gains of 2011 "in our pocket" Ablin says stocks could shoot to double-digit returns with a mere "nudge in profit growth" though he's quick to offer that he'd take gains and declare victory should such a move occur.

In the bigger picture, he's not blind to what's happening in Europe; he simply thinks the U.S. economy is much more able to handle a European recession than is widely believed. He says Europe is less catastrophic meltdown and "more like what happened to Japan over the last 20 years." In other words, it's a serious problem but one that can be factored in without dragging down the rest of the world.

"Economics is a social science; it's an allocation of resources," Ablin says. That being the case, more resources will be coming into the U.S. while the rest of the world struggles through the pain. It may not be a great bullish theme but it should be more than enough to keep the wheels turning over here.

Let us know what you think in the space below.

SC chief to quit over E&O scandal

2012-02-07T23:43:00.002+08:00

Tan Sri Zarinah Anwar will step down as Securities Commission (SC) chief next month after coming under pressure over the market regulator’s role in Sime Darby’s acquisition of a 30 per cent stake in property group E&O last August, The Straits Times reported today.

Wall Street opens higher after payrolls data

2012-02-03T23:00:00.002+08:00

NEW YORK (Reuters) - Stocks jumped at the open on Friday after the January employment report beat the highest expectations, boosting hopes the world's largest economy has turned a corner.

The Dow Jones industrial average (DJI:^DJI - News) gained 93.51 points, or 0.74 percent, to 12,798.92. The S&P 500 Index (SNP:^GSPC - News) rose 11.39 points, or 0.86 percent, to 1,336.93. The Nasdaq Composite Index (Nasdaq:^IXIC - News) added 27.54 points, or 0.96 percent, to 2,887.22.

Indonesia to set up US$5.6b plantation firm

2012-02-03T14:25:00.001+08:00

Indonesia’s government plans to create one of the world’s largest palm oil and rubber firms in March by combining state planters with total assets of US$5.6 billion (RM16.91 billion), a government minister told Reuters today.

A planned listing of the firm will tap investor interest in a country with a recently acquired “investment grade” rating and create a rival to top regional planters such as Malaysia‘s Sime Darby and Singapore‘s Wilmar.

The government will consolidate the assets of 15 state firms, whose revenues last year stood at around 40 trillion rupiah (US$4.45 billion), under parent company PT Perkebunan Nusantara III.

“This holding will become one of the largest plantation firms in the world with one million hectares of palm oil and rubber,” State Enterprises Minister Dahlan Iskan said in an interview.

The sprawling archipelago of 17,000 islands is the world’s biggest exporter of palm oil, second biggest producer of rubber and robusta coffee and third biggest producer of cocoa. The state firms produce all these commodities as well as tea, rice, cassava and sugar.

Analysts said the consolidation of the state firms would produce some economies of scale but would not have a dramatic impact on commodity supply.

“They have been producing. It is not new supply coming into the market. This is just a rationalisation of government linked assets,” said Carey Wong, an analyst with OCBC Bank in Singapore.

The last mega-plantation merger was in 2008 when Malaysia’s government pushed for the tie-up of three state-linked planters to form Sime Darby, which it touted as the largest plantation firm by assets.

Borneo rice bowl

Indonesian state plantation firms will combine to produce an extra 500,000 tonnes of rice from planting 100,000 hectares of new paddy fields in east Kalimantan on Borneo island, Iskan said, without giving a timeframe for the production.

Indonesia, the world’s fourth largest country by population, is trying to become self-sufficient in production of its staple grain. But it surprised regional markets last year with hefty imports from Thailand and Vietnam. Expanding paddies could help its aim not to import again this year.

“I expect Indonesia could produce an additional 280,000-300,000 tonnes of paddy from the newly planted areas of 100,000 hectares,” said Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association.

Plantation firms have been restricted this year from expanding in forested areas such as Borneo by Indonesia‘s two-year moratorium on new forest clearance and land acquisition is in any case seen as a hurdle in a country known for red tape.

Indonesia in December passed a land bill designed to speed up land acquisition for state projects deemed in the public interest and the law could enable the new firm to get access to land for rice.

Top landbank

Iskan said the combined profits of the firms to be amalgamated were around 3.6 trillion rupiah. The government plans to first list one of the firms, PT Perkebunan Nusantara VII, as a unit of the holding firm this year on Jakarta‘s stock exchange.

“After PTPN VII, we’re open for other units to list on the stock exchange but eventually we will list the parent company and I don’t think we should retain a majority stake once it is listed,” Iskan said.

The combined palm oil and rubber landbank of the holding company Perkebunan Nusantara III will be bigger than that of the main existing listed regional planters. Sime Darby currently tops the list with 525,795 hectares for palm oil and has a market value of US$18.2 billion.

Analysts said the new Indonesian merger’s hefty landbank would pull in investors.

“It is massive. They are talking about a million hectares. That would be massive. I’m sure the stock market will be very excited,” said John Rachmat, a palm oil analyst at the Royal Bank of Scotland in Singapore.

Hua Yang plans overseas expansion

2012-02-02T23:20:00.002+08:00

Property developer, Hua Yang Bhd, will explore the overseas market when the company achieves its targeted RM800 million revenue in the next few years, says chief executive officer Ho Wen Yan.

“We hope to grow our revenue to RM800 million by 2018. By then, we will be at a comfortable size and can start looking for opportunities overseas or other high-end segments,” he told Bernama in an interview.

For the nine-month period ended Dec 31, 2011, Hua Yang’s revenue was RM222.13 million.

Ho said the company could bring its affordable housing model and technical expertise to emerging markets like Vietnam, Cambodia and Indonesia.

"Currently, venturing overseas is not in our plan, not within the next three years. The Malaysian market is still very strong, especially for our segment, the affordable housing.

"After three years, we will take a look. At that time, I hope these countries are ready for foreign investors. We are now exploring opportunities,” he said.

Ho said there are ample opportunities in Indonesia and Vietnam and developed countries like Singapore and Australia.

However, his company would have to offer different products for Singapore and Australia, being developed nations.
On the domestic front, Hua Yang plans to launch its next township "Pulai Hijauan" in Johor in April or May.

"Everything is ready now for the official launch of the township," he said.

Pulai Hijauan, with an estimated gross development value (GDV) of RM380 million, is about one kilometre away from the company’s existing township, Taman Pulai Indah, in Skudai.

Ho said the total GDV for the company’s ongoing projects and yet-to-be-developed ones was RM2.4 billion. Of that, the GDV for ongoing projects stands at about RM983 million.

“The rest are undeveloped and some are in the planning stage. These properties will be developed in the next few years. More phases will be developed in our townships, Taman Pulai Indah and Bandar Universiti Seri Iskandar in Perak,” he said.

Ho said the company aims to launch RM800 million worth of properties in Johor, Perak and the Klang Valley next year. -- Bernama

OSK Research retained its Overweight rating on the rubber gloves sector

2012-02-02T21:50:00.002+08:00

OSK Research retained its Overweight rating on the rubber gloves sector with its top pick being Supermax with a target price of RM2.75.

As at 4.55pm, the Supermax share price was unchanged at RM2.14.
In its research report, OSK Research said the high rating on the company was premised on its attractive valuation and the fact that it operated in a recession-resilient industry.

It also said that there had been isolated cases of bird flu in Asia and that although it has not reached alarming levels, healthcare MNCs may prepare themselves by gradually stocking up rubber gloves to avoid buying them at "cut throat" price should there be a pandemic break out.

It said risks included further artificial support of rubber prices by the Indonesian and Malaysian governments, and a rising Ringgit.

It expects latex price to stay above RM7 in the shorter term.
"This is due to the uplift in sentiment for the commodity created by the Thai Government," OSK Research said.
Last week, the media reported that the Thai Cabinet had approved a plan to increase the price of locally-grown natural rubber to THB120 (RM11.84)/kg.

This is done through the Bank of Agriculture and Agricultural Cooperatives offering soft loans of THB5bn to local agricultural institutes and another THB10bn soft loan to the Rubber Estate Organization, both at zero per cent interest to help them purchase natural rubber from local rubber farmers.

The main reasons given for the intervention include the poor rubber prices arising from the global economic slowdown; the flooding crisis in Thailand which had temporarily suspended its production of automobiles and parts, and slower automotive growth in China.

China also slowed down its purchase of Thai natural rubber and instead had switched to the cheaper Indonesian rubber.
"In our view, unless the Thai Government continues to support the price of rubber in the longer run, the price would still be ultimately decided by the forces of demand and supply," OSK Research said.

Hua Yang plans affordable housing projects

2012-02-02T20:52:00.000+08:00

Hua Yang Bhd plans to launch affordable housing projects with a total gross development value (GDV) of about RM500 million in the Klang Valley in its 2014 financial year.

Chief executive officer Ho Wen Yan said: "We are in the midst of securing land bank for these mixed development projects. The first launch will be in the next financial year."

He told Bernama today that the affordable housing projects would be in Selayang, Seri Kembangan and Desa Pandan.

"The company is constantly looking to replenish its landbank with specific areas in the Klang Valley being considered are Selayang, Seri Kembangan and Desa Pandan," he said.

Ho said the projects would take between three and five years to complete.

He also said that the company planned a gated development with a GDV of RM70 million in Perak in its financial year ending March 31, 2013.

According to Ho, the company was currently in the process of purchasing a piece of land, which was strategically located in Perak for the gated development. The project will comprise affordable terrace houses measuring 22x70 feet with price tags below RM400,000.

Ho said the company would continue to focus on affordable houses, a segment which Hua Yang had been getting tremendous response since it started its property business in 1978.

"We've been selling between 30 per cent and 50 per cent of our properties during our launches,” he said.

Hua Yang is in the midst of developing five projects with a total GDV of about RM983 million of which 85 per cent of the properties worth RM835 million have been sold.

Two of the five projects, namely Symphony Heights and One South with GDV of RM205.7 million and RM515.3 million respectively, are in Selangor.

Another project, Senawang Link which carries a GDV of RM17.8 million, is located in Negeri Sembilan. Its other two ongoing projects, Bandar Universiti Seri Iskandar with a GDV of RM56.3 million is in Perak while Taman Pulai Indah which has a GDV of RM187.8 million is in Johor. -- BERNAMA

SARA 1Malaysia Fund?

2012-01-31T10:54:00.001+08:00

SARA 1Malaysia Fund?
Our government launched the Skim Amanah Rakyat (SARA) 1Malaysia which is offering 32.16% return per annum on your investment. Is this too good to be true? 32.16% return is definitely higher than most of the investment vehicles available in the market right now.

How it works?
SARA 1Malaysia is a hybrid of a unit trust investment and a loan product aimed at encouraging low-income earners to save and invest.
1. Invest with your own money.
The investment is limited to RM5000 per household and you’ll receive RM134 dividend every month up to 5 years, according to PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman.
In this case, the effective rate of return is more than 30% per annum!

2. Invest with bank’s money (taking up RM5000 loan)
You’ll still receive a handsome dividend of RM134 a month and after deducting the bank’s monthly repayment of RM84, you get to enjoy a profit of RM50. But in this case you’re not forking out any money so the actual return is “INFINITY”. These is how rich people get rich by using other people’s money to invest.

For how to calculate the actual return, you can refer to this great article by LCF:
SARA 1Malaysia Return Calculation

Are you qualified?
The purpose of this investment scheme is to help the poor to start investing and saving.
You are qualified to invest the fixed amount of RM5000 if

Malaysians aged between 18 and 58 years;
Applicants must have a combined gross household monthly income of between RM500 – RM3,000;
Applicants must not be declared bankrupt throughout the loan funding period
Applicants and / or spouse(s) must not be a beneficiary of other Government special schemes managed by Amanah Saham Nasional Berhad (ASNB) i.e.”Program Pembangunan Rakyat Termiskin (PPRT)”, “ASB Sejahtera” and “ASW2020-Bandar”;
Applicants and / or spouse (s) do not have any investments in ASNB unit trusts, OR, if there is, applicants and /or spouse(s) (household) have a combined aggregate investment totaling RM10,000 or less in all ASNB products;
Only one household is eligible to obtain the loan funding
How to invest?
Apply for loan from any of these 4 banks: Maybank, CIMB, RHB and Bank Simpanan Nasional
Applications open on January 30th 2012 and will extend for a year or upon full subscription. (I think it will be fully subscribed within the first few hours, if not days)
More information: visit the official website: SARA 1Malaysia.

CHINA STATIONERY LIMITED IPO

2012-01-31T09:54:00.002+08:00

Opening of application : 31/01/2012
Closing of application : 10/02/2012
Balloting of applications : 14/02/2012
Allotment of IPO shares to successful applicants : 23/02/2012
Tentative listing date : 24/02/2012

Remarks :
ALL DEFINED TERMS USED IN THIS ANNOUNCEMENT SHALL HAVE THE SAME MEANING AS THOSE DEFINED IN THE PROSPECTUS ISSUED BY CHINA STATIONERY LIMITED.

THIS TIMETABLE IS TENTATIVE AND IS SUBJECT TO CHANGES WHICH MAY BE NECESSARY TO FACILITATE IMPLEMENTATION PROCEDURES.

THE APPLICATION PERIOD WILL BE ACCEPTED FROM 10:00 A.M. ON 31 JANUARY 2012 AND WILL REMAIN OPEN UNTIL 5:00 P.M. ON 10 FEBRUARY 2012 OR SUCH LATER DATE OUR DIRECTORS, OFFERORS AND PROMOTERS TOGETHER WITH M&A SECURITIES SDN BHD IN THEIR ABSOLUTE DISCRETION MAY MUTUALLY DECIDE.

SHOULD THE DATE OF CLOSING OF APPLICATION FOR THE PUBLIC ISSUE SHARES BE EXTENDED, THE DATES FOR THE BALLOTING, ALLOTMENT OF SHARES TO SUCCESSFUL APPLICANTS AND LISTING OF THE ENTIRE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD WILL BE EXTENDED ACCORDINGLY. IN THE EVENT THE DATE OF THE CLOSING OF APPLICATION FOR THE PUBLIC ISSUE SHARES IS EXTENDED, THE PUBLIC WILL BE NOTIFIED OF SUCH EXTENSION BY WAY OF ADVERTISEMENTS PLACED IN A WIDELY CIRCULATED ENGLISH AND BAHASA MALAYSIA NEWSPAPER WITHIN MALAYSIA

SC task force found Sime Darby triggered E&O general offer

2012-01-30T15:31:00.002+08:00

KUALA LUMPUR, Jan 30 — A Securities Commission (SC) task force found that Sime Darby Bhd was obliged to make a general offer for Eastern & Oriental (E&O) Bhd shares after acquiring a 30 per cent stake in the property developer but was superseded by the regulator’s top ruling authority.
Singapore’s The Straits Times reported that the task force was of the view that a general offer obligation had been triggered as a new “concert party” was created between Sime Darby and E&O managing director Datuk Terry Tham, who jointly controlled more than 33 per cent in the property concern after the deal.
Malaysia’s takeover rules stipulate that any party that acquires more than a 33 per cent interest in a publicly-listed entity must carry out a general offer for the remaining shares.
A general offer can also be triggered if a new party buys less than 33 per cent but secures management control of the target company.
But the SC’s final ruling three-member committee ruled “in a majority decision” there was no general offer obligation as Sime Darby and Tham were not acting in concert, according to an affidavit by the agency’s second-most senior commissioner Datuk Francis Tan, which was sighted by the Singapore daily.
The committee also accepted the task force’s recommendation that the three groups which sold the blocks of E&O shares to Sime Darby did not collectively control the company and that the disposal did not trigger a general offer.
Sime Darby purchased its controlling 30 per cent interest from three major shareholders — Tham, Singapore’s GK Goh Holdings and a group of investors led by businessman Tan Sri Wan Azmi Wan Hamzah — at the end of August last year in a deal that valued E&O shares at RM2.30 a piece.
The purchase price represented a 60 per cent premium over the value of the shares in the company on the open market when the deal was announced.
The RM776 million deal triggered unease over the widely perceived coddling by the agency of large state-controlled companies at the expense of minority shareholders when exercising its authority on corporate takeovers.
The SC ruled six weeks after Sime Darby’s purchase of the three blocks that the plantation-based conglomerate did not have to make a general offer, prompting E&O minority shareholder Michael Chow to sue the SC for failing to compel Sime Darby to make a general offer for the rest of the shares.
The legal suit could renew debate over the SC’s handling of alleged irregular trading activities and will put pressure on SC chairman Tan Sri Zarinah Anwar, whose husband, the E&O chairman, raised his personal stock holdings in the company just weeks before Sime Darby announced the acquisition.
The SC has also filed an application to recuse the judge hearing the suit as he used to be with the regulator.

32 Die from Swine Flu Outbreak, Another 40 Die from Cold Weather in Mexico

2012-01-30T11:53:00.001+08:00

The current winter season in Mexico has left 40 people dead from problems derived from cold and another 32 from flu, the Health Secretariat said.

The agency said in a communique that of the fatalities from cold, 30 were due to carbon monoxide poisoning, seven from hypothermia and three from burns, all of which could be directly attributed to the cold itself or attempts to keep warm.

Most of the deaths occurred in the northern states of the country, with 20 in Chihuahua, six in Durango, four in Sonora, two in Baja California, two in Nuevo Leon and one in Coahuila. Of the central states, Hidalgo had two deaths, Guanajuato had one and Puebla one, while the western state of Jalisco had one more.

As for respiratory illnesses, the secretariat said that up to Friday, 1,623 cases and 32 deaths had been caused by the contagion of different flu viruses.

Of that total, in 1,456 cases and 29 deaths the seasonal flu virus AH1N1 was confirmed and has been the principal virus since the beginning of the year. The same virus in 2009 led authorities to declare a state of emergency.

The secretariat said that currently in Mexico there are three seasonal flu viruses that are active: AH1N1, AH3N2, and the B flu, which were identified in Central and South America in 2011, and this winter are affecting North America.

The agency said that to date this year there have been 1.3 million doctor’s visits nationwide for severe respiratory infections, while some 7,801 cases of pneumonia and bronchopneumonia have been treated.

He said that in the second week of this year, eight out of every 1,000 doctor’s visits were for flu-like respiratory ailments.

The Health Secretariat recommended that the population follow preventive procedures such as building up the body’s defenses with food rich in vitamins C and D, as well as drinking abundant liquids, wearing warm clothing and avoiding exposure to environmental contaminants.

People should also see a doctor if they have a fever that lasts more than three days or if they experience breathing difficulties, among other symptoms.

.

Positive outlook for rubber glove sector, says analyst

2012-01-30T00:21:00.005+08:00

KUCHING: The rubber glove sector has a positive outlook for the upcoming quarters as earnings recovery is believed to be at an early-cycle and bound to gain momentum on the back of sustained margin revival.

In a sector update, AmResearch Sdn Bhd (AmResearch) analyst Low Soo Fang opined, “We reckon glove manufacturers are poised to reap higher margins from time-lag induced imperfect price adjustments from lower input costs due to easing latex price and the strengthening greenback against the ringgit exchange rate.

“As it is, quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) margins of glove manufacturers are still two to four percentage points below normalised levels, implying upside potential.

“We expect higher margins to kick-in over the next few quarters as cheaper latex costs are fully reflected in average selling prices (ASPs),” she stated.

Despite a sharp drop of over 40 per cent in latex price from an all-time high of RM10.60 per kilogramme (kg), Low saw a further easing in latex prices as imminent due to a worse-than-anticipated rubber glut and weakening demand.

This would extend support for a sustained improvement in margins for glove makers as it is the single biggest cost determinant for rubber glove manufacturers, constituting up to 56 to 62 per cent of total production costs.

Low gathered that China’s stockpile of natural rubber (NR) had been on a progressive rise since August 2011, leading to an estimated surplus of 365,600 tonnes as at end-December 2011.

Even though global rubber supply for this year was forecasted to rise by only half of 2011’s additional production of 610,000 tonnes, this would inevitably exert further downward pressure on latex prices going forward.

China’s dominance in the global automobile industry (with a 23 per cent market share) was expected to grow at a slower rate this year, in tandem with the country’s slower economic growth outlook.

The country’s vehicle sales grew a mere three per cent last year, compared with a robust 32 per cent in 2010. As the world’s automobile industry consumes about 70 per cent of global NR output, the sluggish outlook for auto sales this year would affect NR demand negatively.

With regards to glove makers’ production mix, Low commented, “In our view, the structural shift from natural rubber (NR) to nitrile gloves will continue alongside industry trends as consumers typically tend to migrate upwards along with rising disposable income.

“However, the rate of switching should become less drastic now, given softening latex price. Most encouragingly, prices of NR gloves are currently at some seven to 10 per cent discount to nitrile variants.

“NR gloves were sold at an estimated 12 per cent to13 per cent premium to nitrile gloves in 2011. The reversal in ASPs resulting in a favourable price differential should thus help NR gloves claw back some lost market share,” she stated.

The analyst raised AmResearch’s earnings forecasts by 35 to 48 per cent for Top Glove Corporation Bhd (Top Glove) and two to 10 per cent for Kossan Rubber Industries Bhd (Kossan).

She also imputed in higher utilisation rates, latex price forecast of RM5.50 to RM6 per kg as well as AmResearch’s latest in-house foreign exchange rate (US$1 = RM3.10) for both Top Glove and Kossan.

Choosing Top Glove as the top pick for the sector as the group was a prime beneficiary of easing latex prices, she pegged a fair value at RM6.15 per share (from RM3.10 per share) based on a higher fair price earnings (PE) of 19 times revised financial year 2012 (FY13) forecasted earnings.

With over 78 per cent of total production (37 billion pieces per annum) in NR gloves, Top Glove was regarded as the ‘purest’ and largest NR glove manufacturer. Based on past trends, the stock had seen an upward PE re-rating of eight to12 times during previous periods of declining latex prices.

Low also bumped up Kossan’s fair value to RM4.31 per share (from RM3.38 per share previously) based on a higher fair PE of 12.5 times revised FY12 forecasted earnings.

Read more: http://www.theborneopost.com/2012/01/20/positive-outlook-for-rubber-glove-sector-says-analyst/#ixzz1kif1Z7qS

Bird flu outbreak sparks duck cull

2012-01-27T20:14:00.002+08:00

AT least 10,000 ducks will have to be destroyed to contain an outbreak of bird flu at two Victorian farms.

The virus found in birds on the two properties is a low pathogenic avian influenza (LPAI) and not the deadlier form of the virus that spread through Asia, threatening humans and leading to a mass cull of poultry.

Dr Andrew Cameron, the state's chief veterinary officer, says there is no risk to the community, but authorities had to act quickly to quarantine the two properties run by a company north of Melbourne to remove any chance the virus could spread.

"This is all about making sure that the virus doesn't one day in the future evolve and mutate into a more serious form," he said.

The source of the latest outbreak has not been confirmed, but officials believe the virus could have been introduced from wild waterfowl known to harbour influenza viruses.

The Department of Primary Industries will work with the farm owner to dispose of all the ducks and disinfect the farms, he said.

The discovery of the virus came from routine testing that is conducted regularly in the hopes of catching outbreaks before they get out of hand.

Bird flu, also known as avian influenza or AI, is a contagious disease that affects all kinds of poultry.

Dr Cameron said transmission of the virus from birds to humans is very uncommon and this recent outbreak was the first time this particular subtype of the virus had been found in Australian poultry.

"It is a rare event, and we want to absolutely make sure it stays that way," he said.

Control of the disease is taking place under a nationally agreed framework which involves industry, the Commonwealth and all state and territory governments.

An incident management team has been assembled and is tracking all movements to and from the infected farms and surrounding areas.

The two farms are about 25km apart in an area north of Melbourne, but officials are keeping the exact location private.

Three previous Australian outbreaks of avian influenza in Victoria - the most recent in 1992 - have been successfully eradicated.

Mexico says swine flu cases up this year, institutes screening program for schools

2012-01-27T20:13:00.002+08:00

MEXICO CITY — Three years after swine flu closed Mexico City and caused an international scare, the Mexican government and local media are at odds over the severity of this season’s flu virus. Newspapers are warning of an alarming increase in cases while the government insists there is no cause for alarm.

Federal and state health officials agree there is an increase, but they say the number of cases is within the range of a normal flu season.

0
Comments
Weigh InCorrections?
The Mexican health ministry, however, has listed confusing numbers on its website and it hasn’t specified the rise in cases despite repeated requests from The Associated Press.

The federal education ministry said Wednesday that it was instituting screening measures in all elementary schools for the H1N1 flu strain, commonly called swine flu when the first outbreak was discovered in Mexico in March 2009. The ministry revised its message later to say screenings are in place only at schools where children exhibit symptoms.

Local media reported a handful of schools in Mexico City have closed. The education ministry said they were private schools shuttered by administrators and parents, not by official government action.

Meanwhile, the U.S. Centers for Disease Control and Prevention said Thursday that while Mexico is seeing more cases of the H1N1 virus, the U.S. is seeing more cases of a different strain, H3N2. Antibodies for both are part of this year’s flu vaccine. H1N1 is now considered a seasonal flu.

“We are not aware of any unusual changes in the virus in Mexico that would be concerning,” CDC spokesman Tom Skinner said in an email to The Associated Press.

Besides the contradicting statements about screenings at schools, the Mexican government has also put out conflicting statistics.

The health ministry on Sunday reported 637 cases of confirmed flu cases so far in 2012 along with 10 deaths — nine of them associated with 573 cases of H1N1.

On Jan. 15, it reported far lower numbers: 181 confirmed cases for all strains of flu and five deaths for 2012, meaning cases would have increased 250 percent in just one week.

The same health bulletin said that for all of last year, there were 870 cases of all strains of flu and 35 deaths.

The World Health Organization in 2009 declared swine flu the first global flu pandemic in 40 years after the outbreak of cases in Mexico that spring and then the strain spread to other countries.

Mexican authorities closed restaurants, schools, museums, libraries and theaters to stop the spread of the disease as initial reports suggested it was killing as many as one in 15 of those infected — a horrifying death rate that would have been more than three times higher than the devastating flu pandemic of 1918-19.

Additional investigation in Mexico suggested that many people had suffered only mild illness. Those cases were not counted in initial reports, meaning the death rate was much, much lower than originally estimated.

By July 2010, the Mexican government reported nearly 76,000 cases of H1N1 and more than 1,300 deaths, the most recent accumulated statistics on its website.

The World Health Organizations estimates that flu causes 3 million to 5 million cases of severe illness worldwide every year, with about 250,000 to 500,000 deaths, primarily among the elderly and the chronically ill.

IJM, Ahmad Zaki wins RM1.74b MRT job

2012-01-27T17:43:00.004+08:00

MRT Corporation has awarded two significant construction packages worth RM1.738 billion for the Sungai Buloh-Kajang My Rapid Transit (MRT) line to IJM Construction Sdn Bhd and Ahmad Zaki Sdn Bhd.

In a statement, it said IJM Construction will be appointed the main contractor for Package V5 which will cover the construction and completion of the Viaduct Guideway and other associated works from Maluri Portal to Plaza Phoenix Station worth RM974 million.

Ahmad Zaki will be appointed the main contractor for Package V6 which covers the construction and completion of the Viaduct Guideway and other associated works from Plaza Phoenix to Bandar Tun Hussein Onn Station with a contract value of RM764 million, it said.

Both awards are subject to the successful tenderers accepting the Letter of Award to be issued by MRT Corp in due course.

"After stringent and comprehensive evaluation by the One Stop Procurement Committee (OSPC) chaired by the Prime Minister, Datuk Seri Najib Tun Razak, MRT Corp is pleased to announce this award to IJM Construction and Ahmad Zaki. Both companies are helmed by an experienced management team and have a solid track record of delivering projects on time and within costs," said the chief executive officer of MRT Corp, Datuk Azhar Abdul Hamid.

"We are confident that with these significant contract awards, the MRT project implementation will gain momentum and continue to provide positive benefits to the economy," he said.

He said MRT Corp will ramp up its efforts to publically announce the tender and award schedule for the various work packages and encourage all qualified contractors to participate.

"It is our intention that all works packages be subject to competitive bidding. All bidders will have equal opportunity in the tender process and the winning bids will be strictly based on merit," he added