Jimmy Song

JimmySong | Joined since 2012-12-27

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General

2014-12-01 08:24 | Report Abuse

TITIJAYA LAND BERHAD DELIVERS IMPRESSIVE Q1FYE2015
PAT INCREASES BY 34%

PETALING JAYA, 28 NOVEMBER 2014 – TITIJAYA LAND BERHAD (“Titijaya” or the “Group”, “帝亿置地”), a growing property developer today marked its first year as a listed company on the Main Market of Bursa Malaysia Securities Berhad. The Group announced its first quarter results for its financial year ended 30 June 2015 (“Q1FYE2015”) with total revenue of RM87.7 million, representing an increase of 31.5% compared to the corresponding quarter in the last financial year (“Q1FYE2014”).

During the quarter under review, the Group reported a profit before tax (“PBT”) and profit after tax (“PAT”) of RM31 million and RM23 million, representing an increase of 29% and 34% respectively compared to Q1FYE2014.

In tandem to the results announcement, shareholders have also approved the Group’s decision to pay out a final single tier dividend of 4.0 sen per share at its second Annual General Meeting today. The dividend will be paid on 23 December 2014.

“Today marks the Group’s first year being listed on the Main Market and we have certainly fared well throughout the year by delivering strong earnings for the Group. Our strong cash position and healthy balance sheet will be a key factor for us as we continue to scout for more lucrative and strategically located land banks.” Mr. Lim Poh Yit (“林保亿”), the Group’s Deputy Managing Director commented.

Since listing, the Group has secured two major developments located in Penang and KL Sentral.

More recently the Group acquired additional 70,000 ordinary shares of RM1.00 each in Tenang Sempurna Sdn. Bhd. (“TSSB”) for a total cash consideration of RM70,000 resulting in a total shareholding of 105,000 ordinary shares of RM1.00 each representing 70% of the equity in TSSB. The acquisition of TSSB was in line with the Group’s strategic direction as TSSB was awarded a Joint Development Agreement to undertake a development located in Kuala Lumpur.

Since IPO, the Group increased its total GDV of RM4.0 billion to a total GDV of RM8.6 billion.

During the quarter under review, the Group has launched two developments which are Emery @ Kemensah and Phase 3 of Zone Innovation Park.

“We will continue to strengthen our position with strategically located land banks in the Klang Valley. At the same time, we will not hesitate to seize any good opportunities that may arise in the future. The Group is vigilant in every step of the way to achieve our vision of being a premier property developer in Malaysia.”

The Group has also successfully passed all 8 resolutions at the 2nd Annual General Meeting today.

For more information about the Group please go to http://www.titijaya.com.my/

***

About Titijaya Land Berhad

Titijaya Land Berhad was founded in 1997 the Group’s Managing Director Tan Sri Dato’ Lim Soon Peng. The Group’s business is focused in three segments namely residential, commercial and industrial property developments.
Since it undertook its first property development in 2001 to date, the Group has completed more than 3,000 units of properties totaling a GDV of approximately RM1.14 billion.
Recently the Group was successfully listed on the Main Market of Bursa Malaysia on the 27 November 2013.

General

2014-11-25 09:35 | Report Abuse

SIGNATURE’S PAT INCREASES BY 2 FOLDS FOR Q1FY2015
The Group Experiences 131.9% growth For Its Kitchen and Wardrobe Systems

PETALING JAYA, 24 NOVEMBER 2014 – SIGNATURE INTERNATIONAL BERHAD (“Signature” or the “Group”), announced its first quarter results for its financial year ended 30 June 2015 (Q1FY15) with a revenue of RM 59.35 million; representing an increase of 119.65% as compared to its preceding year corresponding quarter (Q1FY14) of RM27.02 million. The increase in the Group’s revenue has resulted an increase in its profit before tax (PBT) of RM9.29 million and a profit after tax (PAT) of RM6.96 million, reflecting an increase of 220.5% respectively as compared to Q1FY14.

In terms of the Group’s segmental performance to date, its kitchen and wardrobe segment remains to be its core profit contributor with a PBT of RM6.5 million, making up approximately 43% of the Group’s total PBT. This segment reported a 131.9% revenue growth as compared to Q1FY14. This growth was largely due to the higher sales volume deriving from the Group’s project segment’s higher order book leading to improved revenue recognition for the quarter under review. The Group newest business segment, interior fit-out reported a PBT of RM1.4 million. Signature’s white goods and built-in kitchen appliances PBT delivered a staggering 627.3% growth with RM1.0 million as compared to Q1FY14, whilst the glass and aluminium product segment reported a PBT of RM0.2 million.

“The management believes that our improving financial performance is a testament of our commitment and effort in delivering product quality, customer satisfaction and prompt delivery to our clients and business partners. This has led to our business growth in our industry which has been evidently reflected with increased project works for the Group.” commented Mr. Tan Kee Choong, Group Managing Director.

The Group’s current order book continues to remain strong with an unbilled value of approximately RM200 million. Moving forward, the Group will continue to invest in improving production facilities through increasing automation within the manufacturing processes and workflows. Signature is also progressing with its five-year business plan with the opening of Signature Kitchen Lifestyle Galleries with two (2) galleries opened in 2014 located in Puchong Selangor and Danga Utama, Johor. Signature is working towards in deploying new solutions such as online production process tracking and customer relationship management (CRM) systems to improve efficiency and enhance customers’ experiences.

For more information about the Group please go to www.signaturekitchen.com.my

***

About Signature International Berhad
Signature International Berhad was incorporated in 1994 by Group Managing Director, Mr.Tan Kee Choong and Group Executive Director, Mr. Chooi Yoey Sun. Signature is an established one-stop solutions provider of Kitchen and Wardrobe systems. Bearing over 20 years of industry experience, Signature is involved in the manufacturing, design and distribution of kitchen and wardrobe systems to both retail and project market. For the project market, Signature has been working with many reputable developers such as Sime Darby, UEM Sunrise, Tropicana and Malton.

General

2014-10-31 10:43 | Report Abuse

SIGNATURE FULL YEAR NET PROFIT SOARS 287%
DELIVERS 287.4% INCREASE IN EARNINGS

PETALING JAYA, 30 OCTOBER 2014 – SIGNATURE INTERNATIONAL BERHAD (“Signature” or the “Group”), an established one stop provider of kitchen and wardrobe systems listed on the Main Market of Bursa Malaysia announced its full year audited financial year ended 30 June 2014 (“FYE2014”) results with a total revenue of RM178.7 million representing a 47.9% increase compared to its financial year ended 30 June 2013 (“FYE2013”). As a result, the Group delivered pre-tax profit (“PBT”) of RM25.5 million and net profit (“PAT”) of RM19.6 million, an increase of 190.0% and 287.4% respectively compared to FYE2013.

The Group’s Design, Manufacturing and Retail of Kitchen and Wardrobe Systems operating segment remains as the core revenue and earnings contributor for the group, making up 88.5% of total revenue and 83.1% of the consolidated PBT. The Projects Division within this core segment contributed more than 60% to the Group’s revenue.

The Group’s balance sheet remains very healthy as at 30 June 2014 with total shareholders’ equity of RM120.7 million. As at the financial year-end, the Group has total cash balance of RM33.7 million. Net asset per share as at 30 June 2014 is RM1.04 per share.

The Group has also proposed a first and final single tier dividend of 5 sen per ordinary share for FYE2014, subject to shareholders’ approval at the upcoming Annual General Meeting.

Highlights for FYE2014
Signature has achieved several new milestones throughout the course of the financial year and these events have played an important role in the Group’s strategy to further strengthen the Signature brand and presence as an international player in this market.

On April 2014, Signature Academy Sdn Bhd (“The Academy”) was incorporated. The Academy has embarked on the Installers Apprentice Programme as an initiative to meet the increasing demand of technically competent and qualified work force in this industry. The programme targets to not only train skilled workers but to develop qualified technical professionals to meet industry demand. The Installers Apprentice Programme provides an opportunity for lower academically qualified individuals to improve their capabilities and skillsets, and potentially earn a higher income resulting in an improved livelihood. Malaysia currently has 434 public skills training institutes and 753 private skills training institutes producing the potential skilled workers in various industries but none of them are involved in training for the kitchen systems industry. Signature Academy is the first in Malaysia to specialise in the kitchen systems industry.

In June 2014, Signature launched its very first lifestyle gallery located at The Cube in Puchong which is a uniquely planned development designed as a fashionable corporate and lifestyle hub. Subsequently, the Group continued to launch its second lifestyle gallery in Johor Bahru in September 2014. The Johor Bahru gallery is located in a modern and stylish 3 storey commercial building at Danga Utama, the latest prime location with excellent accessibility along the prominent Jalan Skudai and Jalan Sutera Danga (Sutera Mall). The Group plans to launch more of its lifestyle galleries in strategic locations in the near future.

In September 2014, Signature Realty Sdn Bhd (“SRSB”), a wholly owned subsidiary of Signature, entered into a conditional sale and purchase agreement ("SPA") with Lembaga Tabung Haji and THP Enstek Development Sdn Bhd for the proposed acquisition of five parcels of land covering a cumulative area of 38.86 acres worth RM50.78 million (“the Land”). The Land is earmarked for the future development of a new manufacturing facility which is intended to be a larger and more comprehensive production facility to cater for the Group’s long term business expansion plans. Currently, the Group’s existing factory in Kota Damansara is mainly used for the production of kitchen cabinets and wardrobes catering for its retail segment, which represents 35% to 40% of the Group’s total revenue. In order to ensure consistency in the quality of the final products and have more control over the supply chain, the Group aims to expand its manufacturing capacity and eventually produce all products within its facility. The proposed development will take place in several phases over five years with the construction of the first phase expected to commence in second half of 2016. The proposed acquisition is pending approval from the Group’s shareholders.

For more information about the Group please go to www.signaturekitchen.com.my

General

2014-09-17 18:26 | Report Abuse

GEORGE KENT DELIVERS BETTER EARNINGS
Announced Q2 Results and Interim Dividend

PUCHONG, 17 SEPTEMBER 2014 – GEORGE KENT (MALAYSIA) BERHAD (“GKENT” or “the Group”) today announced its financial results for the second quarter of its financial year ending 31 January 2015 (“Q2FYE2015”) with total revenue for the quarter of RM75.0 million.

The Group also reported a profit before tax (“PBT”) and profit after tax (“PAT”) of RM8.5 million and RM6.1 million, an increase of 1.3% and 19.2% respectively compared to its corresponding quarter for its previous fiscal year (“Q2FYE2014”).

For its first half of FYE2015 (“H1FYE2015”), the Group reported accumulated revenue of RM139.9 million which translates to a decrease of 16.5% compared to its corresponding period of FY2014 (“H1FYE2014”). However, the Group also reported a 5.4% and 18% increase in PBT and PAT to RM17.2 million and RM12.6 million respectively. The improved margins achieved for H1FY2015 was due to lower operating expenses.

In addition to the increase in PAT, the Group also recorded a once off gain of RM28.2 million from the revaluation of its properties.

Commenting on the Group’s financial results, its Chairman, Tan Sri Dato’ Tan Kay Hock said, “We are continuing efforts to improve efficiencies and reduce production and operation costs in all areas. We have continued to invest and build our skills and technical competence to ensure that we maintain our competitive edge. We will intensify our efforts to increase our current order book, which will contribute to our future earnings.”

On 29 August 2014, the Group rewarded its shareholders with a bonus issue of 1 share for every 3 existing shares held. This has effectively increased the Group’s issued and paid up share capital to RM150.2 million comprised of 300,410,168 shares of RM0.50 each from RM112.7 million comprised of 225,307,626 shares of RM0.50 each. With the enlarged share base, the Group hopes to improve the liquidity of its shares in the market.

Furthermore, the Group continues to reward its shareholders by declaring an interim single-tier dividend of 2.0 sen per ordinary share, which amounts to a total pay-out of RM6.0 million based on the 300,410,168 enlarged numbers of shares issued. In monetary terms, this interim dividend represents a 77% increase compared to the net sum of RM3.4 million interim dividend pay-out in H1FYE2014.

“George Kent will continue to evolve and grow as a company. With the continued support of our shareholders, and our highly competent team, we are optimistic that we can continue to deliver strong earnings for the foreseeable future.” concluded Tan Sri Tan.

_________________________________________________________________________________

About George Kent (Malaysia) Berhad

George Kent is an established engineering company with core businesses focused on the water industry and the delivery of specialised infrastructure projects. For the past 78 years, we have provided a broad range of water metering solutions for households, industrial and plant use. Known for our agility and engineering excellence, we have a proven track record of successfully completing high value projects in the water and other infrastructure sectors. George Kent also undertakes technology-critical projects in the healthcare and rail transportation sectors and is currently carrying out the Ampang LRT line extension works. We are the trusted partner to our stakeholders, delivering quality and excellence locally and across the region.

For more information, please visit www.georgekent.net

General

2014-08-29 09:44 | Report Abuse

WEIDA (M) BHD ANNOUNCES Q1 RESULTS
Credible start for FYE2015

PETALING JAYA, 28 AUGUST 2014 – WEIDA (M) Bhd (“Weida” or the “Group”), today announced its first quarter results for the period ended 30 June 2014 (“Q1FYE2015”) with a revenue amounting to RM69.2 million. This marks a respectable start for the financial year ending 31 March 2015 (“FYE2015”) towards the Group’s quest to exceed the revenue achieved in the previous financial year (“FYE2014”). Similarly, the profit before tax (“PBT”) of RM6.1 million is a credible start for FYE2015.

The Group’s manufacturing segment reported a RM2.7 million increase in revenue to RM50.2 million for the quarter as compared to preceeding quarter (“Q4FYE2014”). This resulted in a 54.1% increase in the earnings contributed by this segment for the quarter compared to the preceding quarter. The increase in the performance of the Group’s manufacturing segment was due to increased demand from government projects during the quarter. The Group also achieved better profit margins due to the product and customer mix during the period.

The Group’s works segment comprising telecommunication towers, water, wastewater treatment and other infrastructure contributed lower segmental revenue and profit due to lower progress claims on construction works of certain projects, which are nearing completion, and also due to the fact that some projects were completed in the last financial year (“FYE2014”). The Group is optimistic that being a leading player in East Malaysia, they will be well positioned to capitalise on the Malaysian Communications and Multimedia Commissions’s (“MCMC”) plans to roll out the next phase of telecommunications infrastructure construction soon.

The Group’s property segment registered declined revenue and profit against Q4FYE2014. In the preceding quarter, revenue and profit contribution from the property segment comprised of the initial revenue recognition based on percentage of completion of works and sales achieved from the Group’s maiden property project, Urbana Residences. Urbana Residences is at its initial development stage and construction works and the project is progressing smoothly and is on schedule.

Furthermore, the Group is actively preparing to launch its next property development project which resulted in higher overheads during the quarter under review.

“We believe that we are on track to deliver Urbana Residences to our property buyers by 2nd Half of 2016. Our next property development project will be a RM330 million GDV residential development called Ardena in Mont Kiara, Kuala Lumpur. We are also planning to embark on more residential developments within the Klang Valley in the near future.” commented the Group Managing Director, Dato’ Lee Choon Chin.

“Building up a premier property development arm is in line with WEIDA’s strategy to achieve continuous growth in a balanced and sustainabile manner. We also believe that the upcoming Sarawak Corridor of Renewable Energy and the Sabah Development Corridor will result in lucrative opportunities that the Group can capitalise on in the foreseeable future.” Continued Dato’ Lee Choon Chin.

The Group’s balance sheet remains very healthy with total shareholders’ equity of RM362.4 million and a formidable cash balance of RM241.1 million. The Group is currently in a net cash position due to its relatively low borrowings. The net asset per share is RM2.79 as at 30 June 2014.

General

2014-08-29 09:40 | Report Abuse

SIGNATURE INTERNATIONAL BERHAD ANNOUNCES 4TH QUARTER RESULTS
Q4 Net Profit Soars 95.3% to RM8.4 million

PETALING JAYA, 28 AUGUST 2014 – SIGNATURE INTERNATIONAL BERHAD (“SIB” or the “Group”), today announced its fourth quarter results for its financial year ended 30 June 2014 (“Q4FYE2014”) with revenue of RM63.6 million, an increase of 51.6% as compared to the preceding quarter (“Q3FYE2014”). The Group recorded profit before tax (“PBT”) of RM10.3 million and profit after tax (“PAT”) of RM8.4 million, representing a staggering increase of 82.6% and 95.3% respectively as compared to Q3FYE2014.

The Group’s revenue and earnings were boosted substantially by its key business segment - Kitchen and Wardrobe Systems. Revenue for this segment increased significantly by 67.6% to RM61.2 million from the preceding quarter. Subsequently, this increased the segment’s pre-tax earnings by a remarkable 63.1% to RM9.4 million from Q3FYE2014.

The Group services both property development projects and the retail markets with its kitchen and wardrobe systems. While the Group reported significant improvement in sales from both market segments, the sales to property development projects registered an exceptional increase. This is from numerous projects completed and fully recognised during the quarter under review.

For the financial year ended 30 June 2014 (“FYE2014”), SIB reported stellar performance with a 260% increase in earnings to RM18.2 million for the year on the back of RM175.4 million in revenue. Earnings Per Share (“EPS”) rose to 15 sen for FYE2014 compared to 3.9 sen for FYE2013.

The strong improvement in the Group’s revenue and earnings for the financial year is attributable to a strong performance by the Group’s Kitchen & Wardrobe segment, which makes up 88.3% and 81.0% of the Group’s total revenue and pre-tax profits respectively.

The Group’s balance sheet remains healthy with total shareholders’ equity (before minority interest) of RM119.3 million, and cash reserves of RM15.3 million. The Group’s net assets per share increased to RM1.00 as at 30 June 2014.

“The property sector looks promising for Signature as many residential developments enter their later phases of development which involves fittings and furnishings. Meanwhile, furnishings of kitchens have become more popular for new property developments. In the past, this was mostly limited to high-end developments but the same trend has spilled over to mid-end developments in recent years.” Mr. Chooi Yoey Sun commented, Group Executive Director.

During the financial year under review, Signature Interiors Sdn Bhd was incorporated to venture into the business of design and build, interior fit-out work, focusing on the hospitality industry, hotels and commercial buildings. Since its first year of incorporation, it has successfully secured a sizeable RM34.0 million worth of interior fit-out works and the Group is optimistic that more projects will be awarded for the coming years.

In addition, as part of its corporate social responsibility initiative, the Group has also incorporated Signature Academy Sdn Bhd during the financial year. Signature Academy will be involved in developing and training skilled workers in the field of installation work to equip them with the necessary knowledge and skills in order to gain employment opportunities in the industry. This initiative will also increase the number of installers available in the workforce in order to meet the current and future demands.

“We believe we have the responsibility as a corporate citizen to assist in the well-being of our society and we hope this initiative will work out well and create better employment opportunities.” Concluded Mr Chooi.

General

2014-08-29 09:35 | Report Abuse

OCK GROUP ANNOUNCED Q2FYE2014
OCK GROUP DELIVERS 30% INCREASE IN REVENUE

PUCHONG, 28 August 2014 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider announced its second quarter results for the financial year ending 2014 (“Q2FYE2014”), with a revenue of RM43.4 million representing a 30.35% increase in comparison to its corresponding quarter last year (“Q2FYE2013”).

The Group recorded a profit before tax (“PBT”) of RM4.6 million, representing an increase of 10.68% as compared to its corresponding quarter FYE2013. The profit margin for this quarter has shrink slightly to 8% as compared to its preceding quarter due to higher staff cost, as more projects are being deployed this year.

In respect to the Groups’ 1st half result for FYE 2014, the Group delivered a revenue of RM80 million representing a 25.13% increase in comparison to its corresponding period FYE2013. The Group also recorded a PAT of RM6.8 million as compared to corresponding period FYE2013 of RM5.5 million.

Segmental Revenue
The Group’s two core businesses, telecommunication network services segment and network facilities provider (“NFP”) and green energy and power solution (“GEPS”) segment delivered revenue of RM26.5 million and RM11.1 million respectively, an improvement of close to 29% growth in top line as compared to its corresponding quarter. The main increase in GEPS segment was due to recurring income from it solar farm in Kelantan and also the completion of the 10MW solar farm in Sepang which was completed.

The trading and M&E engineering services segment delivered steady revenue of RM5.8 million.

Corporate Exercise
In June this year, the Group completed a private placement, issuing a total of 56,980,000 new shares at RM1.30 per share that raised a total gross proceed of RM74.1 million. The contribution of the proceeds has brought the Group into a net cash position of RM21.6 million for further capital expenditure.

The proposed 85% acquisition of PT Putra Mulia Telecommunications; in Indonesia for a total purchase consideration of RM21.3 million is currently pending approval from shareholders during the upcoming Extraordinary General Meeting.

“The Telco market is usually more active in the 2nd half of the year according to historical financial numbers, thus, we are pleased that our two core revenue streams have shown resilience through the first half of the year. We are confident that with our current healthy financial position, we will be able to win more projects in the coming months.” Commented by Mr. Sam Ooi, Group Managing Director.

“With the completion of our Indonesian acquisition, we believe the division will contribute positively to our group earnings going forward.” He added.

General

2014-08-28 10:24 | Report Abuse

TITIJAYA MEETS FULL YEAR EARNINGS CONSENSUS
Doubling Total Land Bank GDV To RM8.2 Billion Since IPO

PETALING JAYA, 28 AUG 2014 – TITIJAYA LAND BERHAD (“Titijaya” or the “Group”, “帝亿置地”), a growing property developer listed on the Main Market of Bursa Malaysia announced its full year results for its financial year ended 30 June 2014 (“FYE2014”) with a total revenue of RM283.8 million. As a result, the Group delivered pre-tax profit (“PBT”) of RM96.4 million for the year under review, and net profit (“PAT”) of RM71.3 million. This is the Group’s first full year financial results since its listing on the Main Market of Bursa Malaysia on 27 November 2013.

The Group’s fourth quarter for its financial year ended 30 June 2014 (“Q4FYE2014”) reported revenue of RM82.8 million representing a 32.5% increase compared to its preceding quarter ended 31 March 2014 (“Q3FYE2014”). The Group also delivered a PBT and PAT of RM25.8 million and RM20.1 million respectively for Q4FYE2014. The main earnings drivers for the current quarter under review are the Group’s property developments such as Galleria, Subang Parkhome Phase II, Seri Alam Industrial Park and 3 Elements.

The Group’s balance sheet remains very healthy as at 30 June 2014 with total shareholders’ equity of RM392.1 million. As at the financial year-end, the Group was in a net cash position, with total cash balance of RM144.6 million. Net asset per share as at 30 June 2014 is RM1.15 per share.

Mr. Lim Poh Yit (“林保亿”), the Group’s newly appointed Deputy Managing Director commented, “It has been an eventful year for Titijaya and we are proud of our financial performance for our debut financial year since our listing in November last year. Our land banking strategy has proven to do good for the Group. During our IPO, the Group had a total GDV from on-going and upcoming projects of RM4.2 billion. Over a period of 9 months, this has doubled to RM8.2 billion. We will endeavour to continue and secure strategically located land and enhance our land bank in the foreseeable future. Our existing land bank will keep us productive and busy until 2023, but we cannot be complacent and will need to maintain our competitive edge”

Highlights for FYE2014
In April 2014, the Group announced its Joint Venture Agreement (“JVA”) with Bina Puri Construction Sdn Bhd, a wholly owned subsidiary of Bina Puri Holdings Berhad, to develop a mixed development project located on a parcel of land owned by Prasarana in Brickfields, Kuala Lumpur. This development is conveniently located only 300m away from KL Sentral monorail station and 80m from Tun Sambanthan monorail station along with other amenities in its vicinity. The project has an estimated gross development value (“GDV”) of RM1.4 billion.

In May 2014, the Group, via its wholly-owned subsidiary City Meridian Development Sdn Bhd (“CMD”) also announced that it has entered into a conditional sales and purchase agreement (“SPA”) with Titijaya Group Sdn Bhd (“TGSB”) in relation to a proposed acquisition of a 20.4 acre leasehold land on Penang Island for a total purchase consideration of RM126.0 million. The parcel of land is located within walking distance to the 2nd Penang Bridge, also known as Sultan Abdul Halim Mua’dzam Shah Bridge, which was opened to the public on 1 March 2014. The Group is proposing a mixed development with an estimated GDV of RM2.6 billion, which will be launched approximately in the tail end of 2015.

As at 30 June 2014, the Group’s on-going projects such as Subang Parkhomes 2, Seri Alam Industrial Park, Zone Innovation, The Galleria, 3 Elements & Embun Kemensah has an average take up rate of approximately 75%. The Group’s Mutiara Residence in Klang hit a 100% booking rate within 2 weeks of its recent launch. In addition, the Group’s first block (Block A) of its H20 project in Ara Damansara has been fully booked.

More recently, the Group appointed Y. Bhg. Laksamana Tan Sri Dato’ Sri Mohd Anwar Bin Hj Mohd Nor as the Group’s Independent Non-Executive Chairman. Tan Sri Dato’ Sri Mohd Anwar is also currently the Chairman of Lembaga Tabung Angkatan Tentera (“LTAT”) and has held this position since 2007.

As of today, the Group has proposed on a final single-tier dividend of 4.0 sen per ordinary share for the financial year ended 30 June 2014 which will be subject to approval during the upcoming Annual General Meeting.

General

2014-08-28 10:12 | Report Abuse

CREST BUILDER Q-O-Q EARNINGS UP 104%
CREST BUILDER DELIVERS LEAP IN EARNINGS


PETALING JAYA, 27 AUGUST 2014 – Crest Builder Holdings Berhad (“CBHB” or the “Group”) announced its second quarter results for its financial year ended 31 December 2014 (‘Q2FY2014’) with revenue of RM55.7 million representing a 20.2% increase as compared to its corresponding quarter last year (‘Q2FY2013’)

The Group reported profit before tax (‘PBT’) of RM16.6 million, representing a 152.0% increase compared to its last quarter (‘Q1FY2014’). This increase in PBT was mainly due to higher sales from the Group’s development projects and growing property division.

In terms of the Group’s half-year (‘1HFY2014’) segmental performance, its construction and property development division achieved earnings before interest and tax (“EBIT”) of RM8.3 million and RM24.5 million respectively. The property development division has delivered an EBIT of RM24.5 million due to higher sales recognised for the period from its development projects.

The significant decrease in PBT amounting to RM33.1 million for the quarter under review as compared to the corresponding quarter last year was largely due to the fair value gains on the Group’s property investments recognised in Q2FYE2013.

“I am pleased with this quarter’s results and looking forward to the various opportunities we have for the coming quarters. The recent and continuing volatility in raw material prices poses a challenge to us. However, I am confident that we will remain profitable due to the strength of our construction segment and the upcoming property launches that we have in the pipeline.” commented Mr. Eric Yong, Executive Director of CBHB.

General

2014-08-21 09:00 | Report Abuse

STRONG TRAJECTORY GROWTH FOR KANGER

KUALA LUMPUR, 20AUGUST2014 – Kanger International Berhad (“Kanger” or the “Group”), a global integrated bamboo product manufacturer and supplier has announced its second quarter results (“Q2FYE2014”) for the financial year ending 2014, with revenue and profit after tax (PAT) of RM13.16 million and RM2.15 million respectively representing a 3.5% and 52.7% increase in comparison to previous quarter(“Q1FYE2014”).

For the Group’s first half(“1H FYE2014”) performance, it has recorded revenue of RM25.88 million and PAT of RM3.56 million. Gross profit margin and profit before tax margin stood at 20.0% and 16.8% respectively. The Group’s revenue were derived from three main products comprising horizontal and vertical bamboo flooring, strand woven bamboo flooring and other strand woven bamboo products with a reported revenue of RM8.1million, RM1.5 million and RM3.6 million respectively.

“Our sales have been on the surge since our listing in December last year, and our customer base has also broadened. Listing in Bursa Malaysia has granted us a better future, I must say”, Mr. Leng Xingmin, Group Managing Director commented.

Corporate Development
KAR ACE project is one of Kanger’s high-end flooring brands with technical support from Krono from Germany and BKB from Malaysia. KAR ACE also acquired rights from Krono and BKB to become their dealer for their products in China. Since July 2014, Kanger has awarded 8 KAR ACE dealerships, and by end of the year the number may increase to 20 dealerships. KAR ACE will also be sold in 39 B&Q outlets by end of the year. Kanger is expecting positive sales in 2H FY2014 for KARACE.

The Group will be relocating to their new corporate office in NanShan Chi Yuen, Shenzhen, scheduled to be completed and delivered by end of August 2014. It is an improved working environment with rational layout and fully functional facilities providing staff a more comfortable environment to work in.

“Moving forward, we are looking at expanding our market into different regions. Currently, we have our products distributed in several countries around Europe, Middle East, Asia and South America.” Mr. Leng added. 

Proposed Bonus Issue
The Group has received approval from its shareholders during the EGM for the proposed issuance of 86 million Bonus Shares on the basis of one (1) Bonus Share for every five (5) existing Kanger Shares.

The rationale for the Proposed Bonus Issue is to reward existing shareholders for their support and loyalty to Kanger by enabling them to have greater participation in the equity of the Company in terms of number of Shares held and also to enhance the marketability and trading liquidity of Kanger Shares on Bursa Securities by way of a larger share base.

In addition, the Group also proposed to increase itsauthorised share capital to facilitate the issuance of the Bonus Shares as well as any future issuances of Kanger Shares.

For more information please visit www.krbamboo.com

About Kanger International Berhad
Kanger International Berhad (“Kanger”) is a global integrated bamboo product manufacturer and supplier covering the industry value chain from conceptualization, R&D, manufacturing and production to sales and distributions of bamboo flooring and related products. They are the sole authorised bamboo flooring supplier of B&Q China.

General

2014-06-30 07:35 | Report Abuse

YINSON’S OFFSHORE PRODUCTION AND SUPPORT SERVICES PROFIT INCREASES MORE THAN 3 FOLDS
THE GROUP’S FPSO PTSC LAM SON HAS PRODUCED ITS FIRST OIL IN VIETNAM

KUALA LUMPUR - YINSON HOLDINGS BERHAD (“Yinson”, “the Group” or “云升控股有限公司”) announced its first quarter for its financial year ending 31 January 2015 (“Q1FYE2015”) with revenue of RM294.1 million which represents a 28.8% increase compared to its corresponding quarter in the last financial year (Q1FYE2014).For the current quarter under review, Yinson reported a profit before tax (“PBT”) and profit after tax (“PAT”) of RM37.9 million and RM31 million which translates to an increase of 110.7% and 93.5% respectively, compared to Q1FYE2014.

On a quarter-on-quarter performance, the Group delivered a stable increase in revenue, PBT and PAT of RM40.6 million, RM5.5 million and RM3.6 million respectively. The increase in profits are partly due to the increase in profit contribution from the commissioning of the Group’s floating production, storage and offloading vessel (“FPSO”) – PTSC Lam Son.

The Group’s offshore production & support services segment delivered earnings before interest and tax (“EBIT”) of RM51.7 million which represents a staggering growth of 251% as compared to its corresponding quarter last year. The significant growth is mainly due to the contribution from the Group’s new subsidiary, Yinson Production As (“YPAS”), which was acquired in December 2013.

HIGHLIGHTS FOR 2014

On 6 June 2014, the Group’s FPSO, PTSC Lam Son, produced its first oil ahead of schedule. The total contract value for this project amounts to USD737.3 million over a fixed period of seven (7) years, with an optional extension period of up to three (3) years.

On 9 June 2014, The Group successfully completed the acceptance and payment of its rights issue. The Group received a total of 278.9 million subscriptions which represents an over subscription of 20.7 million shares or approximately 8.03% over the total of 258.2 million rights shares. The exercise raised a total gross proceeds of RM568 million, which will be utilised for the Group’s expansion activities and repayment of borrowings.

On 26 June 2014, The Group successfully executed their share split exercise resulting in the subdivision of 2 ordinary shares for every 1 ordinary share held.

“We would like to thank our shareholders for your continued support and trust in the Group throughout our corporate journey. We are optimistic that we will be able maintain our growth trajectory in the foreseeable future and continue to create more value for our shareholders.” said Mr. Lim Han Weng, Group Executive Chairman.

For further information, please log onto http://www.yinson.com.my/ or http://www.bursamalaysia.com.my.

General

2014-06-09 08:14 | Report Abuse

YINSON’S FPSO PTSC LAM SON: FIRST OIL AHEAD OF SCHEDULE
THE GROUP’S FPSO WHICH SAILED OFF TO VIETNAM WATERS IN MARCH 2014 HAS PRODUCED ITS FIRST OIL WEEKS AHEAD OF SCHEDULE

KUALA LUMPUR, MALAYSIA 06 JUNE 2014 - YINSON HOLDINGS BERHAD(“Yinson”, the “Company” or “云升控股有限公司”), a leading international independent offshore production and support services provider, is proud to announce that the Group’s latest floating production storage and off-loading vessel (“FPSO”), PTSC Lam Son has produced its first oil today ahead of its original schedule. This achievement follows its earlier accomplishment in August 2013 when the Group’s first floating storage and off-loading vessel (“FSO”) PTSC Bien Dong 01, produced its first condensate within the schedule of client.

“Since we have expanded our business into the oil and gas industry, our journey has been a remarkable experience thus far. Despite the hard work involved, the fruits of our efforts are starting to show and it is exciting to witness our successful transformation from a simple logistics company to an international oil and gas player within four (4) years,” commented Mr. Lim Han Weng, Group Executive Chairman of Yinson.

The Lam Son project is a 49:51 joint venture between Yinson and PetroVietnam Technical Services Corporation (“PTSC”), respectively for the provision and chartering of the FPSO with a total contract value of up to USD737.3 million (approx. RM2.35 billion). This bareboat contract is for a firm period of seven (7) years with an extension option of up to three (3) years. Yinson expects the activites of Lam Son to start contributing positively to its profits for its financial year ending 31 January 2015.

“In spite of our recent business growth, the management does not plan to ease off any of our plans and efforts for further growth, including plans for strategic expansion,” Lim added further.
On the 16 May 2014, the Group had announced a Renounceable Rights Issue of 258,199,610 new ordinary shares of RM1.00 each in Yinson on the basis of one (1) rights share for every one (1) existing share at an issue price of RM2.20 per rights share. The exercise will raise approximately RM568 million in which the Group will utilise the rights issue proceeds for expansion activities and repayment of borrowings to reduce their current net gearing.

For further information, please log onto www.yinson.com.my orwww.bursamalaysia.com.my

General

2014-05-29 20:15 | Report Abuse

ASIA BRANDS DELIVERS LEAP IN EARNINGS
74% increase in net profit to RM30 million for FY2014

PETALING JAYA, 29 MAY 2014–Asia Brands Berhad (“Asia Brands” or the “Group”) announced its fourth quarter results for its financial year ended 31 March 2014 (Q4FY2014) with a revenue of RM76.7 million, 8% lower as compared to RM83.7 million in the last quarter (“Q3FY2014”) mainly due to seasonal fluctuations in sales. However, the Group’s net profit for Q4FY2014 increased to RM7.1 million as compared to RM6.8 million in the preceding quarter.The improved bottom-line was mainly due to the significant cost reduction measures taken by the Group as well as the Group’s ability to capitalise on economies of scale.

For the financial year ended 31 March 2014 (“FY2014”), the Group delivered a staggering 70% leap in revenue to RM320 million as compared to RM189 million in the previous financial year (“FY2013”). The Group’s gross margins have also improved year-on-year from 47% in FY2013 to 52% in FY2014. The increased revenue and improved gross margins were attributed to the consolidation of its new subsidiary companies that were acquired from Asia Brands Corporation Berhad in December 2012. During FY2014, the Group also had an one-off gain from the disposal of its non-core assets as part of its efforts to streamline its balance sheet. As a result, the Group’s net profit increased from RM17.4 million in FY2013 to RM30.2 million in FY2014.

“FY2014 was a year of consolidation for the Group. We are pleased with the results and we believe that we are heading in the right direction. We will continue to streamline our operations to maximise efficiency and earnings in order to remain competitive and keep our eyes on our vision of becoming a leading brand conglomerate.” commented Mr. Cheah Yong Hock, Chief Executive Officer.

General

2014-05-29 20:10 | Report Abuse

STRONG TRAJECTORY GROWTH FOR OCK GROUP WITH 41.3% PROFIT INCREASE

PUCHONG, 29 MAY 2014 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider announced its first quarter results for the financial year ending 2014 (“Q1FYE2014”), with revenue of RM 36.6 million representing a 19.4% increase in comparison to its corresponding quarter last year (“Q1FYE2013”)

The Group recorded a profit after tax (“PAT”) RM3.4 million, of and profit before tax (“PBT”) of RM4.5 million, representing an increase of 41.3% and 39.7% increase respectively as compared to Q1FYE2013.

Segmental Results

The Group’s telecommunication network services segment and network facilities provider (“NFP”) segment reported a revenue of RM18.1million and RM3.1million respectively, the green energy and power solution segment reported a revenue of RM12.5 million, trading segment reported a revenue of RM1.5 million, M&E engineering services reported a revenue of RM1.1million.

Commenting on the segmental results, Mr. Sam Ooi, Group Managing Director said, “We’re excited as our NFP revenue is now classified on its own. This segment is contributed from the rental revenue of our telecommunication towers. In addition, our green energy and power solution operations are also performing well in line with the Group’s expanding plans. The increase in profits of our green energy is largely due to the completion of our 10MWp solar farm construction works in Sepang.”

“2013 kicked off our strategic expansion plans in extending our green energy services to solar power farms when we successful built our first 1MWp megawatt solar farm in Kelantan, which has been fully generated to the power grid. We foresee that our green energy segment will continue growing in the coming financial year moving forth.” Mr. Ooi further commented.

Over the past year, OCK has seen an increase in demand in telecommunication sector in the regional countries. Capitalising on this market demand, the Group has been actively venturing into the regional countries such as Myanmar, Cambodia, and China. Most recently the Group has also announced it proposed acquisition of 85% equity interest in PT Putra Mulia Telecommunications in Indonesia for a purchase consideration of RM21.3 million.

“With all the active regional activities going on, OCK still remains focus on strengthening our presence in the Malaysian market.” Mr Sam added.

Corporate Exercises
The Group announced a 20% private placement, which is expected to raise approximately RM71 million. The main portion of the proceeds will be utilised for the Group’s business expansion, followed by working capital, renovation cost of the new office and expenses for the proposed private placement.

The Group is currently in preparations and submission for all documents to Securities Commission (“SC”) and Bursa Malaysia Securities Berhad (“Bursa Securities”) for their proposed transfer from the ACE Market to the Main Market of Bursa Securities.

Along with the transfer to main market, the Group has also announced a proposed bonus issue on the basis of 1 bonus share for every 2 existing OCK shares held.

“The Group is excited for the year ahead as we will have many new milestones installed for us. We will seek to raise funds from the private placement of up to 20%, which will be utilised mainly for the business expenditure. We are also thrilled that we have qualified for a transfer to the main market, we hope that this will enhance the Group’s recognition in the regional market.” Mr. Ooi added.

For more information please visit www.ock.com.my

General

2014-05-29 08:11 | Report Abuse

PETALING JAYA, 26 MAY 2014 – WEIDA (M) BERHAD (“Weida” or the “Group”), announced its 4th quarter results for its financial year ended 31 March 2014 (“Q4FYE2014”) with a revenue of RM81.5 million, an increase of RM1.0 million in the current quarter as compared to the preceding quarter (“Q3FYE2014”).

The Group recorded a pre-tax profit (“PBT”) and profit after tax (“PAT”) of RM11.3 million and RM8.6 million respectively in the current quarter. This represents a quarter-on-quarter growth of 131% and 87% respectively compared to Q3FYE2014. In comparison to the same quarter of the previous financial year (“Q4FYE2013”), the Group’s core earnings from continuing activities has increased by a staggering 378% from RM1.8 million in Q4FYE2013 to RM8.6 million in Q4FYE2014. The significant improvement was due to the earnings contribution from the Group’s property segment and higher interest income earned for the period, compounded by lower borrowing costs.

For its financial year ended 31 March 2014 (“FYE2014”), Weida reported total revenue of RM321 million, a 22% drop compared to the last financial year (“FYE2013”). The decline in revenue was due to a lower contribution from the Group’s works segment. In addition, it is to be noted that in the last financial year the performance was exceptional because of one-off project supplies driven by government development programs.

As a result of the lower revenue for the year under review, the Group reported a PAT of RM23 million which is lower than RM150 million reported in FYE2013 which also included a one-off gain from the disposal of the Group’s oil palm plantation segment of RM125 million. Excluding this one-off gain, the Group current year PAT of RM23 million was marginally lower compared to last financial year of RM25 million.

The decline in the Group’s core earnings was mainly attributed to lower progress claims for construction works, which were in their completion stage and one-off constructions costs. The Group also incurred significant marketing expenses in relation to their maiden property development project in Ara Damansara, which was successfully launched during the financial year.

The Group’s balance sheet remains very healthy with total shareholders’ equity of RM363 million, and cash of RM245 million. Due to its relatively low borrowings compared to its cash war chest, the Group is currently in a net cash position, with a net asset per share of RM2.86 as at 31 March 2014.

During the year, the Group issued a total dividend of RM5.2 million in respect of FYE2013.

Property Segment

The Group ventured into property development during the financial year, launching its maiden development in Ara Damansara called Urbana Residences in early October 2013 with an estimated Gross Development Value (“GDV”) of RM231 million. To date, the take-up rate of this development is in excess of 90%. This division is expected to broaden our earnings base which will enhance our growth catalyst in the foreseeable future.

Currently, the construction schedule for Urbana Residences is on track, with substructure works in active progress.

“Weida has always believed in uplifting the standards of our society in everything we do. Over the last 30 years, we have achieved this through our strong values, commitment to excellence and our time honoured tradition of quality. We believe that we are able to embody this philosophy in our property development” commented Dato’ Lee Choon Chin, Group Managing Director.

Further to the success of its maiden property development project, the Group is currently planning to launch its next premier residential development in Mont Kiara in the second half of this year. With an estimated GDV of RM350 million, this project will focus heavily on lifestyle themes, landscaping, value as well as our time honoured tradition of delivering quality.

“In order to remain relevant in this market and in line with our aspirations to be a leading boutique property developer offering exciting concepts, quality and value, we will have to continue to acquire and accumulate strategic land banks and develop properties that will fit market demands.” continued Dato’ Lee.

For the foreseeable future, the Group believes that its manufacturing business segment will continue to grow in line with the sector as a whole and contribute to the Group’s earnings. It will also capitalise on the Tenth Malaysia Plan particularly in areas of water supply, sanitation facilities, housing and general infrastructure works.

The Group also believes that the Government’s budget and plans to increase the number of telecommunication towers by another 1,000 units throughout the country will be another growth catalyst for the Group. Towards that, the Group is bidding for building 164 new towers for Sarawak and Sabah. To date, the Group has successfully built 362 telecommunication towers in East Malaysia.

General

2014-05-27 08:04 | Report Abuse

CENSOF DELIVERS RM4.3 MILLION PROFITS
FOR THE 15-MONTHS PERIOD ENDED 31 MARCH 2014


PETALING JAYA, 26 MAY 2014 – Censof Holdings Berhad (“Censof” or the “Group”) today announced its results for its period ended 31 March 2014(“Q5FY2014”) with a revenue of RM30.3 million, a 70.7% increase compared to its previous quarter (“Q4FY2014”).

The Group delivered a pre-tax profit (‘PBT’) of RM4.3 million, an increase of RM7.1 million compared to the RM2.9 million losses before tax reported in Q4FY2014. The Group has turned around from a net loss of RM3.0 million in Q4FY2014 to a net profit of about RM3.0 million for Q5FY2014, resulting in net earnings attributable to its shareholders (“PATMI”) of RM1.3 million.

The Group has recently changed its financial year from 31 December 2013 to 31 March2014. In relation to the Group’s cumulative financial performance for the 15-months ended31 March 2014 (“FY2014”), Censof has reported a total revenue of RM80.1 million, an increase of 79.0% compared to its previous financial year (“FY2012”) of RM44.8 million. This significant increase was due to the five quarter accumulated results and also a substantial contribution from the Group’s 45.03% equity stake in Dagang Nexchange Berhad (previously known as Time Engineering Berhad), which the Group acquired in November 2013. However, due to the expenses related to the acquisition of Dagang Nexchange, compounded with the increased borrowing costs incurred during the period under review, the Group delivered a PAT of RM4.2 million, a decrease of 56% compared to FY2012.

During the 15 month period ended 31 March 2014, the group issued 34.4 million new ordinary shares via a private placement raising RM17.3 million. In addition, the Group has also received shareholders’ approval for the issuance of Redeemable Convertible Notes (“RCN”) worth RM100 million. To date, they have only drawn down a total of RM7.5 million of the RCN. The funds rose from the private placement and the RCN were partly used to pare down the Group’s borrowings which were utilised for the acquisition of Dagang Nexchange. As at 31 March 2014, the Group’s net gearing is 0.6 times.

“Despite our lower earnings for this period, we are confident that we can deliver significant growth in our bottom-line for the foreseeable future due to our healthy outstanding order book. We believe that our substantial stake in Dagang Nexchange will bear fruit and further contribute to our earnings. We are also continuously and proactively looking for opportunities both locally and regionally. In addition to replenishing our order book, we are also focusing on increasing our recurring maintenance income once our existing order book is completed.” commented Datuk Samsul Hj Husin, Group Managing Director.



About Censof Holdings Bhd

Incorporated in 1997 as a specialist for financial management solutions, Censof is today at the forefront of the industry in Malaysia and the global business arena. Together with our sister companies, the Censof Group of Companies has established presence in Malaysia, Indonesia and the United States, with financial management solutions, e-payment gateway services, training solutions and investment/asset management solutions.

Our primary business operations include system design, development geared towards its implementation in installation, maintenance, and support; certified by the ISO 9001:2008 standards, established by a Bureau Veritas Certification.

General

2014-05-22 07:56 | Report Abuse

TITIJAYA CONTINUES TO EXPAND ITS PORTFOLIO WITH NEW PROJECTS WORTH RM3.3B GDV
Titijaya delivers a pre-tax profit of RM25.1 million for its Q3FYE2014

PETALING JAYA, 21 MAY 2014 – TITIJAYA LAND BERHAD (“Titijaya” or the “Group”,“帝亿置地”),a newly listed property developer announced its financial results with a revenue of RM62.5 million for thethird quarter of its financial year ending 30 June 2014 (“Q3FYE2014”).

The Group delivered a pre-tax profit (“PBT”) of RM25.1 million for the quarter under review, and a net profit (“PAT”) of RM18.4 million representing a quarter-on-quarter bottom-line growth of 18.1% compared to its preceding financial quarter (“Q2FYE2014”). The earnings reported for Q3FYE2014 is largely contributed by the completion and sales from the Group’s property development projects, namely The Galleria, Subang Park homes Phase II and Seri Alam Industrial Park.

In light of the financial performance for the financial quarter under review, the Group has achieved cumulative revenue and PAT for the first nine-months of its financial year ending 30 June 2014 (“FYE2014”) of RM201.0 million and RM51.2 million, respectively.

There are no comparative figures for the preceding year’s corresponding period as the Group was listed on the Main Market of Bursa Malaysia on the 27 November 2013.

“I am pleased that the Group has been performing well financially and operationally since we listed on Bursa Malaysia. We foresee that we will be able to maintain our growth momentum and continue to deliver positive financial performance for the rest of our financial year and the foreseeable future barring any unforeseen circumstances.” Commented Mr. Lim Poh Yit(“林保忆”), COO of Titijaya.

EXPLORING AND SECURING NEW DEVELOPMENT PROJECTS

PROPOSED ACQUISITION IN PENANG

On the 21 May 2014, the Group, via its wholly-owned subsidiary City Meridian Development Sdn Bhd (“CMD”)also announced that it has entered into a conditional sales and purchase agreement (“SPA”) with Titijaya Group Sdn Bhd (“TGSB”) in relation to a proposed acquisition of a 20.4 acre leasehold land in Penang Island for a total purchase consideration of RM126 million. The parcel of land is located within walking distance to the 2nd Penang Bridge, also known as Sultan Abdul Halim Mua’dzam Shah Bridge, which was opened to the public on 1 March 2014. The Group is proposing a mixed development with an estimated GDV of RM2 billion which will be launched approximately in the tail end of 2015.

TGSB is a related company to the Group due to common directors and shareholders and is also substantial shareholder of the Group. The said parcel of land is to be acquired by TGSB from its current owner, Lembaga Kemajuan Ikan Malaysia (“LKIM”) for a sum of RM126 million and is expected to be completed by November this year. The SPA between the Group and TGSB will run concurrently.

“This marks an exciting new milestone for the Group for our first venture outside of Klang Valley. We are exploring this proposed acquisition in Penang due to its strategic location and development opportunities that is anticipated from its surrounding catchment area. It is also one of the few available locations with water frontage and enjoys an unobstructed view. At the moment, we are in the midst of planning and exploring the right mix of development products that will best fit market demands and trends.” commented by Mr. Lim.

BRICKFIELDS

On 18 April 2014, the Group has also announced its Joint Venture Agreement (“JVA”) with Bina Puri Construction Sdn Bhd, a wholly owned subsidiary of Bina Puri Holdings Berhad, to develop a mixed development project located on a parcel of land owned by Prasarana in Brickfields, Kuala Lumpur. The project has an estimated GDV of RM1.3 billion.

This deal is an opportunity with excellent prospects for the Group’s property development footprint in Kuala Lumpur. The development is strategically located within the vicinity of KL Sentral and is well accessible to the Brickfields monorail station. Additionally, the most recent Nu Sentral Mall is also within the vicinity, which adds value to the proposed development.

“We are ecstatic with the two new upcoming projects and they should keep us busy and contribute to our earnings growth as we continue to search for more strategic land bank.” added Mr. Lim

For more information about the Group please go to http://www.titijaya.com.my/
***

AboutTitijaya Land Berhad

Titijaya Land Berhad was founded in 1997 the Group’s Managing Director Tan Sri Dato’ Lim Soon Peng. The Group’s business is focused in three segments namely residential, commercial and industry property developments.
Since it undertook its first property development in 2001 to date, the Group has completed more than 3,000 units of properties totaling a GDV of approximately RM1.14 billion.
Recently the Group was successfully listed on the Main Market of Bursa Malaysia

General

2014-04-28 19:43 | Report Abuse

NEXGRAM PLANS TO ACQUIRE SENSORLINK GROUP
Signs an MoU to acquire 70% stake


KUALA LUMPUR, 28 APRIL 2014 – Nexgram Holdings Berhad (“NEXGRAM”), a diversified investment holding company listed on the ACE Market of Bursa Securities Malaysia, today announced that it has executed a Memorandum of Understanding (“MoU”) with the vendors of Sensorlink Holdings Sdn Bhd (“SENSORLINK”), one of the leading security surveillance service companies in Malaysia, to acquire 70% equity stake in the latter subject to the terms and conditions stipulated in the definitive sale & purchase agreement (“SPA”) for a total consideration of RM28.6 million.

“We believe that the proposed acquisition of SENSORLINK will contribute positively to our Group, not only through earnings but also through synergistic and intangible benefits. We will be investing in significant upgrades to our system platforms and infrastructures in order to remain relevant in our industry and maintain a competitive edge. We also have an upcoming property development project in Cyberjaya, which will consist of a niche mixed property development accompanied with an in-house data centre. SENSORLINK, specialising in security and video surveillance equipment, willnot just be an important addition to us in order to safeguard our assets, it will also leverage on our infrastructure and business network, especially in bringing new customer base to our big-data services. This deal will be beneficial for both NEXGRAM and SENSORLINK since we can both leverage on our existing customer base.” commented a spokesperson from NEXGRAM.

According to sources familiar with the security and surveillance industry, the proposed acquisition will be an excellent opportunity for NEXGRAM to tap into a RM120 billion (US$40 billion) global video surveillance market. SENSORLINK currently has an approximate US$10 million market share, which is a tiny fraction of the global market, despite being one of the top players in the Malaysian market. This means that there is a huge potential for substantial growth.

“There is definitely a huge upside potential which we can capitalise on.” continued NEXGRAM.

NEXGRAM global business provides SENSORLINK instant access to regional expansion, especially in emerging markets such as Indonesia, Thailand and Vietnam. Many of these markets are right at the beginning stage of surveillance technology transition from analogue to IP based system.

The global security market, which includes surveillance, electronic access control systems, intruder alarm and others, was a mere US$16 billion market in 2008. Asia Pacific holds approximately 16%, or US$2.6 billion market share. Malaysia’s video surveillance market was estimated at over US$65 million in 2008, the company believes today the market has exceeded beyond most analyst expectations.


About Nexgram Holdings Berhad
Nexgram is a diversified investment holding company with interest spanning across different industries. The company provides infrastructure, resources, investment and industrial products & services across telecommunication, information technology, property, mineral resources and various private & public sectors. Nextnation Network, a subsidiary of Nexgram, is a leading end-to-end mobile application service provider connecting to international mobile networks, supporting thousands of developers and distributors worldwide. Godynamic Investments is the venture arm of Nexgram, which has a mandate to specifically invest in start-ups and businesses in their incubation stage, ranging from mobile software, Internet, social media and information technology sectors. Nexgram Venture Partners focuses in growth investment, particularly high growth companies, including public listed companies (PLC), Government linked companies (GLC) or venture-backed pre-IPO portfolios.

For more information, please visit www.nexgram.com



About Sensorlink Holdings Sdn Bhd
Sensorlink principal activities are investment holding, design, develop, import and distribution of security and video surveillance equipment, systems and technologies. The company provides maintenance and surveillance outsourcing contracts as part of recurring services to clients especially in banking, property development and various private and public sectors. Sensorlink owns 100% equity interest in Sensorlink Sdn Bhd (“SLSB”), 49% equity interest in Sensormax Sdn Bhd (“SMSB”) and 51% equity interest in Centrix Security Sdn Bhd (“CSSB”).

For more information, please visit www.sensorlink.com.my

General

2014-04-10 08:05 | Report Abuse

DATASONIC’S PROPOSED STRATEGIC ACQUISITION

KUALA LUMPUR, 9 APRIL 2014 – Datasonic Group Berhad (“DSONIC” or “the Group”) has entered into a Share Sale Agreement (“SSA”) with Formosa Prosonic Industries Berhad (“FPI”) for the acquisition of 24,861,790 ordinary shares of RM1.00 each (“Shares”) representing 99.45% of the equity interest in Asia Pacific Card & System Sdn Bhd (“APCS”) together with its wholly-owned subsidiary, Constant Ahead Sdn Bhd (“CASB”) for a total cash consideration of RM21.9 million.

Upon completion of the Proposed Acquisition, APCS shall become a 99.45% subsidiary of DSONIC and CASB shall remain a wholly-owned subsidiary of APCS.

Rationale for the Proposed Acquisition

The proposed acquisition of APCS is expected to provide synergies to DSONIC and help the Group to achieve greater economies of scale in order to meet the demands for its polycarbonate cards. At the same time, it will also improve the Group’s financial and operational performance through effective cost control measures.

In addition to the above, this proposed acquisition is in line with the Group’s long-term strategy to safeguard one of the Group’s sources of supplies and increase its competitive edge within its industry. Through this acquisition, the Group would be in a better position to protect its technological expertise, supply chain and processes in the smartcard business.

The cash only purchase consideration of RM21.9 million was arrived at based on a willing-buyer willing-seller basis after taking into consideration the prospects and earnings potential of APCS.

The Group targets to complete the proposed acquisition by 3rd quarter of 2014.

Information on FPI, APCS and CASB
FPI
FPI is a public listed company incorporated in Malaysia with authorised and paid-up share capital of RM200,000,000.00 and RM123,679,133.00 respectively. The principal activities of FPI are assembly of high quality speaker systems.

APCS
APCS is a company incorporated in Malaysia with authorised and paid-up share capital of RM25,000,000.00 respectively. The principal activities of APCS manufacturing of electrical integrated circuit (I.C.) cards, or commonly known as smart cards and its related products.

The existing majority shareholder of APCS is FPI, with a 99.45% equity stake. Upon completion of acquisition, DSONIC will own 99.45% of APCS.

CASB
CASB is a company incorporated in Malaysia with authorised and paid-up share capital of RM500,000.00 and RM300,000.00 respectively. CASB is currently a dormant company and a wholly-owned subsidiary of APCS.

General

2014-03-28 08:04 | Report Abuse

YINSON WRAPS UP ITS FINANCIAL YEAR WITH A REVENUE OF
RM946 MILLION

GROUP DELIVERS 95% GROWTH IN BOTTOM LINE Y-O-Y

KUALA LUMPUR - YINSON HOLDINGS BERHAD(“Yinson”, “the Group” or “云升控股有限公司”)announced its fourth quarter ended 31 January 2014 (Q4FY2014) with a profit after tax (“PAT”) of RM27.4 million, representing an increase of 422% compared to its corresponding quarter in the previous financial year (“Q4FY2013”). The increase in the bottom line for the quarter under review waslargely due to earnings contribution from the FSO, PTSC Bien Dong 01, which commenced operations in Q3FY2014and also from the Group’s newly acquired subsidiary, Yinson Production AS (“YPAS”, formerly known as Fred. Olsen Production ASA). For Q4FY2014, Yinson reported a revenue of RM253.5 million and a profit before tax (“PBT”) of RM32.3 million.

On a quarter-on-quarter (QoQ)basis, the Group’s revenue increased to RM253.5 million compared to its last quarter (“Q3FY2014”) of RM236.8 million i.e. an increment of RM16.7 million. The Group’s Q4FY2014 PBT also reported an improvement of RM15.5 million, an increase of 91.9% as compared to its last quarter. The better PBT is mainly attributable to strong contributions from the marine and transport segments, a negative goodwill of RM49 million arising fromthe acquisitionof YPAS notwithstandingthe acquisition expenses of RM16 millionand the Group having to account for an impairment of available-for-sale investments of RM19.2 million.

The Group’s full financial year ended 31 January 2014 (“FY2014”) recorded a revenue of RM945.9 million and a PAT of RM70.9 million compared to its corresponding FY2013 of RM865.2 million and RM36.3 million respectively.

“In line with the management’s strategic plans in successfully completing the acquisition of YPAS, we are confident that with the Group’senhanced global presence and heightened positioning in the oil and gas industry, the Group will be able to maintain its growth trajectory going forward and capitalise on future opportunities in this area.” said Mr. Lim Han Weng, Group Executive Chairman.

Yinsonheld a naming ceremony for its Vietnam bound FPSO, PTSC Lam Son at Keppel Shipyard, Singapore earlier this month and the first oil of this FPSO is scheduledfor the second half of the next financial year.With this additional FPSO, Yinson is now the 6th largest FPSO operator globally.

Yinson had earlier announced its proposal for a Renounceable Rights Issue of new ordinary shares of RM1.00 per share par value to raise proceeds of up to RM600 million. The proceeds raised from the proposed exercise will be used to pare down the Group’s financial borrowings and for future expansion.

For further information, please log onto http://www.yinson.com.my/ or http://www.bursamalaysia.com.my.

General

2014-03-03 09:12 | Report Abuse

NEWLY LISTED TITIJAYA LAND ANNOUNCES RM21.5 MILLION PRETAX PROFIT FOR ITS Q2FY2013
THE GROUP REPORTS A REVENUE INCREASE OF 8%

PETALING JAYA, 28 February 2014 – Titijaya Land Berhad (“Titijaya” or the “Group”), a newly listed property developer delivered revenue of RM71.8 million for its 2nd quarter of the financial year ending 30 June 2014 (“Q2FY2014”), reporting a 8% increase compared to its previous quarter (“Q1FY2014”). The main contributors to the Group’s revenue were from property development activities, making up 99.6% of the total revenue while rental income contributed approximately 0.4%.

The Group recorded profit before tax (“PBT”) of RM21.5 million and profit after tax (“PAT”) of RM15.6 million for Q2FY2014.

In light of the financial performance for the quarter, the Group has achieved cumulative revenue, PBT and PAT for the first half of the current financial year (“H1FY2014”) of RM138.5 million, RM45.5 million and RM32.8 million respectively.

“We are happy with our financial results for the first half of this financial year and we believe that we will be able to deliver strong earnings for the second half barring any unforeseen circumstances. We recognise the challenges in the industry and we are optimistic in the Group’s strengths and ability to persevere through these challenges and propel Titijaya to a higher level. We are committed in delivering innovative products that meet market demands and will continue to stretch beyond our comfort zone in order to continuously grow as a property developer and maintain a competitive edge.” commented by Mr. Lim Poh Yit, COO of Titijaya Land Berhad.

Calendar year 2014 will be an exciting year for Titijaya as the Group has a portfolio of property development projects in the pipeline to be launched. These anticipated project launches with an estimated total gross development value (“GDV”) of RM2.6 billion, comprise of Embun low density, gated and guarded landed property in Kemensah, H2O serviced apartments in Ara Damansara, an integrated development dubbed Trio in Shah Alam , Mutiara Residence landed property, and the subsequent phases of Zone Innovation industrial park both located in Klang. The Group also plans to leverage on its completed and on-going developments to further strengthen its position within the Klang Valley area and at the same time explore opportunities in other hot spot areas such as Penang.

Titijaya’s developments target the mass market, owner occupiers and genuine investors. The Group believes that their future developments will cater to the needs of the Gen Y and Gen Z population. Affordability, lifestyle and convenience would be the main factors in the purchasing decision of this particular market.

The Group was successfully listed on the Main Market of Bursa Malaysia on 27th November 2013 which raised RM122.56 million from the IPO. The Group intends to utilise a portion of the IPO proceeds for acquisition of strategic landbanks.

For more information about the Group please go to http://www.titijaya.com.my/

General

2014-03-03 09:08 | Report Abuse

CREST BUILDER HOLDINGS BERHAD has announced its Q4FY2013 for its financial year ended 31 December 2013. The Group has announced a full year revenue of RM223.4 million with a PAT of RM58.78 million.

General

2014-03-03 08:51 | Report Abuse

DATASONIC DELIVERS STAGGERING EARNINGS GROWTH
NET PROFIT OF RM81.9 MILLION FOR FY2013

KUALA LUMPUR, 28 FEBRUARY 2014 – Datasonic Group Berhad (“DSONIC” or the “Group”) financial result surpassed the Group’s result in FY2012. The Group achieved a record net profit after tax of RM81.90 million on a turnover of RM260.74 million. This compares favourably with the previous financial year where the Group achieved net profit after tax of RM28.12 million on a turnover of RM178.73 million. Correspondingly, the basic earnings per share improved to 12.13 sen in FY2013 as compared to 4.91 sen in the previous year, representing an increase of 7.22 sen or 147%.

The Group's performance for FY2013 reflects the proven ability of its management to leverage resources and harness operational efficiencies to achieve an impressive organic growth. This growth was complemented by carefully planned and well executed corporate proposals which were aligned to the Group’s strategy to maintain its reputation for consistently adding value, and achieving operational excellence, thus meeting the expectations of its long-term investors.

Prospects
The global demand for polycarbonate-based smart cards and solutions and laser engraving technology is growing at an unprecedented rate. As such, the prospects for growth are positive and the Group is expected to continue to perform better in the next financial year ending 31 December 2014, barring any unforeseen circumstances.

Setting its goals on expansion, Datasonic plans to expand its capacity and technical competency in multi-application secure ID with the establishment of a new manufacturing plant and personalisation center.

With its eyes on the emerging markets in Asia, particularly Myanmar and Vietnam, Datasonic seeks top-calibre industry partners as it aims to market its integrated solutions overseas in the following years.

Dividends
In respect of FY2013, the directors had on 30 August 2013 declared the first interim single-tier tax exempt dividend of 7.5 sen per share, amounting to RM10.125 million based on the issued and paid up share capital as at 30 August 2013.

The directors had on 28 February 2014 declared the second interim single-tier tax exempt dividend of 2.0 sen per share, amounting to RM 13.50 million based on the issued and paid up share capital as at 28 February 2014.

The total dividend paid out in FY2013 is RM23.625 million, representing a dividend pay-out of 28.8% of total Profit After Tax of RM81.90 million.

Change of Financial Year End
The Group has also announced that its Board has approved the proposed change of financial year end from 31 December to 31 March, by which its next set of audited financial statement shall be for a period of fifteen (15 months), made up from 1 January 2014 to 31 March 2015. The Group has authorised its Company Secretary to release the relevant announcement to Bursa Securities.

Bonus Issue
The Group has also announced its proposal to undertake a bonus issue of 675,000,000 new ordinary shares of RM0.10 each on the basis of one (1) Bonus Share for every one (1) existing Datasonic Shares held at a date to be determined and announced later (“Entitlement Date”) upon receipt of all relevant approvals for the Proposed Bonus Issue. An application will be made to Bursa Securities within one (1) month for the listing of and quotation for the Bonus Shares on the Main Market of Bursa Securities.

To recap, in July 2013, Datasonic carried out a bonus issue of 45 million new ordinary shares of RM0.50 each credited as fully paid-up on the basis of 1 bonus share for every 2 existing ordinary shares. Subsequently, the Group had on 30 August 2013 announced its first interim single-tier tax exempt dividend of 7.5 sen per ordinary share for the financial year ending 31 December 2013 and implemented a share split exercise which involved the subdivision of every one (1) existing ordinary share of RM0.50 each into five (5) ordinary shares of RM0.10 each which was completed on 27 December 2013.

Commented by General Tan Sri (Dr) Mohamed Hashim Bin Mohd Ali (RTD), Chairman of Datasonic Group Berhad.

For more information about the Group please go to http://datasonic.com.my/

General

2014-03-03 08:44 | Report Abuse

DAYA MATERIALS BERHAD has announced its Q4FY2013 for its financial year ended 31 December 2013. The Group has announced a full year revenue of RM513.537 million.

General

2014-02-27 09:26 | Report Abuse

WEIDA (M) BERHAD ANNOUNCED ITS 3QFY2014 RESULTS

REPORTING RM80.5MILLION REVENUE

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1549309

General

2014-02-27 09:12 | Report Abuse

CENSOF MAINTAINS STRONG TOP LINE PERFORMANCE
DELIVERS A 13.6% INCREASE YEAR ON YEAR

PETALING JAYA, 26 FEBRUARY 2014 – Censof Holdings Berhad (‘Censof’ or the ‘Group’) announces the Group’s results for its financial quarter ended 31 December 2013 with revenue of RM17.72 million, a substantial increase of 132% compared to the preceding quarter ended 30 September 2013. This was mainly due to the higher billings to the Government sector. However, despite an increase in the Group’s topline, Censof reported a net loss after taxation of RM3.05 million for the quarter under review. The main factor for the negative bottom line for the quarter under review was primarily due to once-off expenses relating to the Group’s acquisition of 45.03% equity stake in Time Engineering Berhad. This deal was successfully completed on 27 November 2013.

“We have achieved a significant milestone with our substantial equity stake in Time Engineering Berhad. We strongly believe that the acquisition will generate significant synergies for both Censof and Time Engineering which we are confident will materialise and contribute to our earnings growth in the future.” commented Datuk Samsul Husin Group Managing Director for Censof Holdings Berhad.

In terms of the Group’s financial performance for the twelve (12) months ended 31 December 2013, Censof delivered revenue of RM50.85 million, a 13.6% increase compared to the preceding 12 months period of RM44.77 million. This favourable increase was attributed to the recognition of revenue from the Perkeso project and increased billings recognized during the financial period. However, due to the acquisition costs relating to the Time Engineering deal at the tail end of the financial period under review, the Group reported a lower bottom line compared to the preceding 12 months.

The Group had announced a change of their financial year end to 31 March.

General

2014-02-27 09:07 | Report Abuse

OCK GROUP BERHAD DELIVERS REVENUE OF RM150.4 MILLION FOR FY2013

PUCHONG, 26 February 2014 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider announced its fourth quarter results for its financial year ended 31 December 2013 (“Q4FY13”) delivering revenue of RM46.2 million which translates into an increase of 14.8.% compared to its preceding quarter (“Q3FY13”).

The Group delivered a profit before tax (“PBT”) of RM7.3 million and profit after tax (“PAT”) of RM4.9 million for the quarter under review representing an increase of 48.6% and 20.6% respectively as compared to Q3FY13.

As for OCK’s segmental performance, its telecommunication network services segment recorded revenue of RM25.1 million representing an increase of 28.3% against its preceding quarter. This was mainly due to the increase in execution work required by the telecommunication operators during the quarter under review. The Group’s green energy and power solutions, trading, and M&E Services segments reported revenue of RM14 million, RM1.8 million and RM5.2 million, respectively.

OCK’s Full Year Performance

OCK’s full year financial results (“FY2013”), reported revenue of RM150.4 million translating into an increase of RM11.8 million compared to its preceding year (“FY2012”). The Group also delivered a PBT of RM19.7 million and PAT of RM14.4 million, representing an increase of 3.3% and 3.2% respectively.

The Group’s segmental performance review for FY2013 showed that its green energy and power solution segment delivered revenue of RM42.9 million which translates into a staggering 128.3% jump compared to its preceding year due to the construction of the 10MW Solar Farm Project in KLIA. Additionally, the Group also showed strong and steady contributions from the telecommunication network services, trading, and M&E engineering services segments, each contributing RM85.8 million, RM10.6 million and RM11.1 million respectively.

Mr. Sam Ooi, Managing Director of the Group said, “The Group is happy to have delivered a steady growth in 2013. Besides the telecommunication network services segment, we now have the green energy and power solution segment contributing to the Group’s earnings. The Group is optimistic to further expand these two businesses to strengthen the Group’s recurring income.”

Overall, 2013 was a fruitful year for OCK. The Group’s telecommunication network services segment met its target for ownership of telecommunication sites. The Group hopes to further increase the amount of towers under its portfolio. The Government 2014 Budget shows that the Government has also taken initiatives to improve the telecommunication sector with their plans to build 1,000 new telecommunications towers in Sabah and Sarawak over the next 3 years with an allocated budget of RM1.5 billion.

The Group also achieved an increase in its green energy and power solution segment. OCK was the engineering, procurement and construction (“EPC”) contractor for the 10MW solar farm in KLIA, Sepang. The Group has also fully developed its first 1MW solar farm, which was energised at the end of 2013. Going forward, the Group hopes to secure more opportunities in this sector.

In respect to its regional expansion, the Group has been acquiring and incorporating new subsidiaries. Its most recent incorporation was a 51% owned subsidiary company called “Fuzhou 1-net Solutions CO., Ltd.” in the People’s Republic of China. The Group believes in preparing for future opportunities in the telecommunication network services overseas.

“Moving forward we are anticipating an exciting year for 2014 as the Group expands and grows.” added Mr. Ooi.

For more information please visit www.ock.com.my

General

2013-12-31 08:18 | Report Abuse

YINSON DELIVERS POSITIVE THIRD QUARTER

KUALA LUMPUR, 30 DEC 2013 – Malaysia’s premier integrated offshore services provider, YINSON HOLDINGS BERHAD (“Yinson”, the “Company” or “云升控股有限公司”) reported revenue of RM236.78 million for the quarter ended 31 Oct 2013 (“Q3FY2014”), which represents a 22.97% increase compared to RM192.55 million in its corresponding quarter ended 31 October 2012 (“Q3FY2013”).

Yinson recorded a profit before tax (“PBT”) of RM16.85 million which translates into an increase of 46.77% compared to Q3 FY2013 of RM11.48 million. The Company also recorded a profit after tax (“PAT”) of RM16.23 million which translates into a jump of 74% compared to Q3 FY2013 of RM9.33 million.

In respect of the 9 months ended 31 October 2013 cumulative results, the Company recorded total revenue, PBT and PAT of RM692.43 million, RM48.03 million and RM43.42 million respectively.

For the 9 months ended 31 October 2013, the Company’s marine business segment reported a revenue of RM70.05 million compared to RM53.59 million for the corresponding period of FY2013. This increase was due to the increase in contribution from the charter of their two new vessels during the period under review. The Company’s transport and trading business segments reported revenue of RM80.23 million and RM541.34 million for the 9 months respectively. This translates to a decrease of RM5.01 million and RM11.62 million respectively as compared to the corresponding period in FY2013. The decline in revenue for these segments was due to the decrease in demand for the transport and trading services compounded with a decline in the average unit price of trading materials.

The Company also reported a segmental profit from other operations of RM2.99 million which comprised of a once-off capital gain, unrealised foreign exchange gains and recovery of bad debts previously provided for.

Commenting on the latest financial results, Yinson’s Chairman and Managing Director, Mr. Lim Han Weng (“林汉荣”), said, “We are grateful that Yinson has been growing steadily and delivering results. The Company will continue to strive to sustain our performance for the rest of the current financial year. We are looking forward to a promising year ahead”


The Company had, on 20 December 2013, announced the completion of the acquisition of Fred Olsen Production (“FOP”) and the Company now owns 102,823,421 FOP shares, which translates to 97.1% of FOP’s outstanding shares.

“The completion of this acquisition exercise marks a material milestone in Yinson’s corporate journey and will contribute to the Company’s future growth and success.” Mr. Lim added.

General

2013-12-26 09:16 | Report Abuse

KANGER INTERNATIONAL BERHAD DEBUTS ON BURSA MALAYSIA
TENTH CHINA-BASED COMPANY TO BE LISTED ON ACE MARKET


KUALA LUMPUR, 23 DECEMBER 2013 – Kanger International Berhad (“Kanger” or the “Company”), a global integrated bamboo product manufacturer and supplier became the 10th China-based company to be listed on Bursa Malaysia Securities Berhad (“Bursa Securities”) on 23 December 2013. The Company debuted on Malaysia’s Stock Exchange this morning with an opening price of RM0.39 and 3.11 million shares traded.

The market presented strong demand for Kanger’s Shares on the 16 December 2013, when its balloting results of its Public Issue where the 11,000,000 Shares which were made available for application by the Public had been oversubscribed by 60.57 times. The 69 million new Kanger Shares that were made available for placement to selected investors were fully placed out. The listing of Kanger Shares at an issue price of RM0.25 raised RM20 million for the company. Approximately 10% of the proceeds raised will be utilised for the Company’s R&D expenditure which will enable Kanger to further develop its R&D facilities in Malaysia pursuant to its R&D collaboration with the Forest Research Institute of Malaysia (FRIM).

Speaking at the listing ceremony, Manager Director of Kanger, Mr Leng Xingmin said, “Our listing on Bursa Malaysia would serve as a platform to expand our business potential to the next level, it will enable us to raise our capacity and capability to manage bigger operations and business projects, create a stronger company profile and provide easier access to the capital markets when required.”

“Going forward, with stronger avenues for our Group’s growth, this in turn will contribute to better value creation for both our Group and our shareholders.” he continued.

Kenanga Investment Bank Berhad is the Advisor, Sponsor, Underwriter and Placement Agent for the listing of Kanger.

General

2013-12-23 08:11 | Report Abuse

YINSON COMPLETES FRED. OLSEN ACQUISITION
______________________________________________________
KUALA LUMPUR, MALAYSIA 20 DECEMBER 2013 - YINSON HOLDINGS BERHAD (“Yinson”, the “Company” or “云升控股有限公司”), has announced this evening that it has fully completed the settlement to the shareholders of Fred. Olsen Productions ASA (FOP) who had accepted the Offer in respect of the 100% acquisition of the ordinary shares of NOK1.00 each in FOP (“FOP Shares”) for NOK9.40 (equivalent RM5.20) in cash per FOP Share (“Acquisition”)
Subsequent to the settlement and completion of the Offer, Yinson now owns 102,823, 421 FOP Shares translating to 97.1% of the outstanding FOP shares and votes in FOP.
The Acquisition sees Yinson increasing its current offshore services fleet size to four (4) Floating Production, Storage and Off-Loading Facility (“FPSOs”), one Floating Storage and Off-Loading Facility (“FSO”). These additional assets with its attaching long term contracts will increase the Company’s order book to approximately RM7.5 billion in total.
Upon the completion of the Offer, Yinson intends to initiate a compulsory acquisition of the remaining FOP Shares not owned by YHB, and to propose that FOP applies for a delisting of FOP Shares from the Oslo Stock Exchange. It is expected that a compulsory acquisition of the remaining FOP Shares will be effected mid-January 2014.

General

2013-12-23 08:06 | Report Abuse

CREST BUILDER HOLDINGS BERHAD ("CBHB" or the "Company"), announced that it has received a Letter Of Acceptance (LOA) from Syarikat Prasarana Negara Berhad ("Prasarana") on a Proposed Joint Venture (Proposed JV) development of Kelana Jaya LRT Station at Lot PT161 Seksyen 39 Daerah Petaling, Bandar Petaling Jaya on a land size measuring approximately 4.95 acres.

The Proposed JV is a mixed commercial development which will comprise of serviced residential suites and offices with a Gross Development Value projected at approximately RM1 billion.

General

2013-12-20 09:09 | Report Abuse

KNM ENTERS INTO CREDIT FACILITY TO SETTLE BORSIG ACQUISITION TERM LOAN

SELANGOR, 19 DECEMBER 2013 – KNM Group Berhad (“KNM” or the “Group”) announced today that the Group’s wholly-owned subsidiaries, Deutsche KNM GmbH and Borsig GmbH had on the 18 December 2013 entered into and executed a Facility Agreement with UniCredit Bank AG (as Arranger), UniCredit Luxembourg S.A. (as Agent) and other participating financial institutions for credit facilities of up to EUR220 million. (approx. RM995 million) comprising a term loan of EUR60 million and bank guarantee facilities of up to EUR160 million.

The term loan will be applied towards the full discharge and settlement of the Group’s existing term loan for the Borsig Group acquisition while the Guarantee Facilities of up to EUR160 million will facilitate the general corporate and working capital requirements of the Borsig Group of companies.

KNM further announced that the full discharge and settlement of the Group’s existing term loan for the Borsig Group acquisition will enhance the financial debt maturity profile of the Group, improve its financial ratios and provide substantial savings in terms of lower financing costs for KNM.

General

2013-12-06 19:33 | Report Abuse

2013 FIRST ACE MARKET LISTING
KANGER INTERNATIONAL BERHAD LAUNCHES ITS PROSPECTUS

KUALA LUMPUR, 06 DECEMBER 2013 – Kanger International Bhd. (“Kanger” or the “Group”), a global integrated bamboo product manufacturer and supplier launched its IPO Prospectus today at Hilton Hotel Kuala Lumpur, pursuant to its public issue of 80 million new ordinary shares of RM0.10 each in Kanger (“Kanger Shares”). Kanger is scheduled to be listed on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 23 December 2013.

The Group’s public issue comprises an issuance of 11 million new Kanger Shares to be offered to public applicants and 69 million new Kanger Shares to be offered via placement to selected investors at an issue price of RM0.25 per Share, which will raise approximately RM20 million upon the listing.

“The listing of Kanger International Berhad marks a major milestone for the Group and it provides a definite sense of achievement for all who have been involved in building Kanger to what it is today. The forthcoming listing on Bursa Malaysia would serve as a platform to expand our business potentials to the next level,” said Leng Xingmin, Managing Director of Kanger International Berhad.

“As part of our strategic plans going forward and for our business expansion efforts in and out of China, we plan to increase the number of appointed dealers and increase our distribution channels across all four continents. We hope that this will expand Kanger‟s brand awareness and build our corporate image within the industry on an international level.” he further added.

Head of Corporate & Institutional Coverage for Kenanga Investment Bank Berhad Mr Leong Yew Loong said, “Kanger International will be the first and only company to be listed on the ACE Market of Bursa Malaysia this year, and we are pleased to be part of this exercise.”

Kenanga Investment Bank Berhad is the Advisor, Sponsor, Underwriter and Placement Agent for the listing of Kanger.


Event Dates
Issuance of Prospectus/ Opening of application for our IPO 6 December 2013
Closing of application for our IPO 13 December 2013
Balloting of applications for our IPO Shares 16 December 2013
Allotment for our IPO Shares to successful applicants 20 December 2013
Listing on Ace Market 23 December 2013






About Kanger International Berhad

Established in 2004, Kanger’s principal activity is the trading bamboo flooring and related products. The Group is recognised as the sole authorised bamboo supplier of B&Q China (one of the largest western home improvement retailers in China with currently approximately 40 stores across China and which is part of the Kingfisher PIc Group, Europe's largest home improvement retailer.)

In 2008, the Group started to venture upstream into manufacturing of bamboo flooring. The Group was soon capable of manufacturing various types’ products. At this point of time, the Group also expanded its sales market into the European Union. In 2011, the Group entered into bamboo research and development (“R&D”) with Forest Research Institute Malaysia (“FRIM”) on utilization of suitable Malaysian bamboo species for strand woven bamboo products. To date, the Group has
31 appointed “Kanger” retail stores which are mainly located in the Guangdong Province of China.

The Group has the capability of upstream and downstream production of bamboo products. The Group is fully equipped with R&D, manufacture, and distribution into the market for sales.

For more information, please visit www.krbamboo.com

General

2013-12-02 09:41 | Report Abuse

CENSOF PROFITS GAINING MOMENTUM
Censof sees strong double-digit growth for its Q3FY2013

PETALING JAYA, 29 NOVEMBER 2013 – Censof Holdings Berhad (‘Censof’ or the ‘Group’) announces the Group’s results for its financial quarter ended 30 September 2013 with a revenue of RM7.65 million seeing a 43.5% increase compared its corresponding quarter last financial year. Censof’s current quarter under review reports a profit before tax (“PBT”) of RM1.35 million and a profit after tax (“PAT”) of RM1.23 million which represents a profit growth of 75.7% and 66.9% respectively as compared to its last quarter ended 30 June 2013: with its PBT translating to basic earnings per share of 0.33 sen.

In terms of the Group’s cumulative financial performance to-date for the financial period ended 30 September 2013, Censof has recorded a revenue of RM33.1 million and a PAT of RM4.2 million. The Group has announced today that there will be change of its financial year from year ending 31 December 2013 to the 31 March 2014.

Earlier this morning the Board held its Extraordinary General Meeting (“EGM”) in respect of its Proposed Redeemable Convertible Notes (“RCN”) Issue. The Proposed RCN Issue involves the issuance of an aggregate principal amount of up to RM100 million nominal value of RCN in four (4) tranches with multiple sub-trances in each tranche, which will mature on the date falling 36 months from the closing date of the first sub-tranche for the RCN first tranche.

“The proceeds raised from the Proposed RCN Issue will be used to fund strategic acquisitions and to repay any borrowing undertaken to fund such acquisition.” commented Datuk Samsul Husin Group Managing Director for Cenosf Holdings Berhad.

Earlier this week on the 27 November 2013, Censof had announced that the TIME Engineering Berhad acquisition has been completed pursuant to the successful transfer of the remaining 170,155,958 Sale Shares representing 21.95% equity interest in TIME Engineering Berhad from Khazanah Nasional Berhad to Censof. Hence, with this completion of the acquisition, TIME Engineering Berhad is now a 45.03% owned subsidiary company of Censof Holdings Berhad.

“Now with the acquisition completed, we will focus on creating value for both companies and capitalise on the business synergies and maximise on the newly combined services and assets to its full potential.” Datuk Samsul said.

General

2013-11-29 18:53 | Report Abuse

DATASONIC 3Q PROFIT INCREASES BY 188%
Revenue of RM69.9 million and Profit After Taxation of RM23.4 million

PETALING JAYA, 29 NOVEMBER 2013 – Datasonic Group Berhad (“DSONIC” or the “Group”) reported a revenue of RM69.90 million for its third quarter results for its financial year ending 31 December 2013 (‘Q3FY2013’). For its current quarter under review it delivered a profit before tax (‘PBT’) of RM28.09 million and a profit after tax (“PAT”) of RM23.44 million, representing an increase of 129% and 188% respectively, as compared to its preceding year corresponding quarter.

On a segmental performance analysis, the Group’s smart cards and consumables contributed approximately 53% of the Group’s total revenue with a revenue of RM37.04 million reported for Q3FY2013. DSONIC’s other core revenue generating streams being the supply of datapages, personalisation solutions and site preparation for personalisation centres generated a revenue of RM26.19 for its current quarter under review.

“The Group have been able to maintain sustainable profit growth quarter on quarter due to effective cost measures and strategic operation management implemented by our management. We believe that the Group is expected to deliver a better performance for the remaining period of the financial year.” commented Tan Sri (Dr) Mohamed Hashim, Chairman of DSONIC.

“Our efforts in the past nine months has seen promising contributions to our steady growth and it gives us the assurance that our business focus and investment efforts have been strategically driven on the right track.” Tan Sri further commented.

On 01 November 2013, the Group had announced a First Interim Single-Tier tax exempted dividend of 7.5 sens per ordinary share for the financial year ending 31 December 2013.

General

2013-11-28 10:36 | Report Abuse

SENARI SYNERGY INK USER OFFTAKE AGREEMENT WITH PETRONAS AND SHELL FOR CODT, TANJUNG MANIS, SARAWAK

KUALA LUMPUR, 27 November 2013 – Senari Synergy Sdn Bhd (“Senari Synergy”) has today signed a Share Sale Agreement with PETRONAS Dagangan Berhad (“PDB”) and Shell Timur Sdn Bhd (“STSB”), pursuant to an operational realignment, for the divestment of their respective entire 20% equity interest each in Assar Chemicals Dua Sdn Bhd (“ACDSB”) for an aggregate RM13 million cash consideration. ACDSB is a special purpose company which owns a central oil distribution terminal (“CODT”) and provides oil storage for petroleum products and terminal handling services to PDB and STSB as the CODT offtakers / users at Tanjung Manis, Sarawak. The commercial operations date for CODT was on 3 February 2012.

The other agreement executed are the Founding Users Agreement between ACDSB and the original / founding users, namely PDB and STSB, being the offtakers for CODT, for a period of 30 years from the said commercial operations date.

Concurrently, Senari Synergy, PDB and STSB also signed a Shareholders Agreement to establish a joint venture company named Tanjung Manis Oil Terminal Management (“TMOTM”) in which they will hold a shareholding proportion of 60:20:20 respectively. The management, operation and maintenance of CODT is governed by the Operating Services Agreement, executed between ACDSB, TMOTM, PDB and STSB.

YBhg Dato Sri Ahmad Tarmizi Bin Haji Sulaiman, the Group Chairman of Senari Synergy and the State Financial Secretary of Sarawak, said “The conclusion of these Agreements with PDB and STSB represents the biggest milestone for Senari Synergy, achieving a long term sustainable business model for the Tanjung Manis development.” He added “We value the opportunity in partnering PDB and STSB forming strategic alliance with State related entities, bring significant economic benefits to Sarawak and the Sarawak Corridor of Renewable Energy (“SCORE”) region”.

Tanjung Manis is one of the key identified areas for the southern SCORE region of Sarawak. Astramina Advisory Sdn Bhd is the appointed Financial Advisor for Senari Synergy.

..........................................................................................................................................

About Senari Synergy Sdn Bhd

Senari Synergy Sdn Bhd (“Senari”) was incorporated in Malaysia under the Companies Act 1965 on 29 July 2010 as a private limited company limited by shares. It is an investment holding company, which was formed to undertake and manage businesses in the oil, gas and chemicals related industries. The subsidiaries of Senari Synergy are involved in activites such as provisioning of centralised storage facilities for the major oil companies, the palm oil refinery business and property development.

General

2013-11-28 08:32 | Report Abuse

FITTERS Q3 PROFITS INCREASES BY 100%

KUALA LUMPUR, 27 November 2013 – FITTERS DIVERSIFED BERHAD (“FITTERS” or the “Group”), Malaysia’s largest fire protection and preventions solutions provider and manufacturer announced its financial results today for the quarter ended 30 September 2013 (“Q3FY2013”) with a revenue of RM131.82 million, which shows an increase of 32.7% in comparison to its corresponding quarter of its preceding year (“Q3FY2012”) of RM99.36 million.

The Group recorded a profit before tax (“PBT”) of RM13.36 million and a profit after tax (“PAT”) of RM10.06 million representing a staggering increase of 101.51% and 111.72%, respectively as compared to is preceding corresponding financial quarter of Q3FY2012.

In terms of the Groups business segmental performance its fire services division recorded a revenue of RM40.86 million, an increase of 16.66% compared to Q3FY2012 of RM35.02 million. The increase was mainly due to additional profit recognised from the project variation from the KL Sentral project.

It’s property development & construction reported a revenue of RM94.14 million which presents a staggering increase of 233.74% compared to Q3FY2012 of RM28.21 million. The increase was mainly due to increase of sales units for the Group’s ZetaPark development, which was largely due the sales units from the “LOFT” service apartments.

Renewable & waste-to-energy recorded a revenue of RM41.88 million showing a decrease of 20.82% compared to Q3FY2012 of RM52.9 million. The decrease was mainly due to the temporary cease in production for upgrading and expansion works to be carried out in the first quarter. This segment is estimated to pick up pace in the near future as full operations with increased capacity has been fully recommenced since April 2013.

The Group’s cumulative results for the nine months of the financial year ending 31 December 2013 reported a revenue of RM312.9 million translating into an increase of 5.5% in comparison to its corresponding period for the preceding year 2012 of RM296.7 million. The Group reported a cumulative PBT and PAT of RM41.46 million and RM30.84 million, an increase of 73.71% and 73.55% respectively compared to its corresponding period in FYE2012 of RM23.87 million and RM17.77 million.

Commenting on the results Dato’ Wong Swee Yee, Managing Director and Founder of the Group said,” The Group is contented with the results achieved so far given that the company was slightly affected by our temporarily ceased green mill operations earlier in the year. We are growing steadily in our fire services division and the Group’s property division is enjoying very good returns and we are looking forward for our next launch, which is ZetaPark DeSky Residence.”

The Group additionally announced it has today entered into a Memorandum of Understanding (“MOU”) with Molecaor Technologia S.L. (“MOLECOR”) to invest in Molecor (SEA) Sdn. Bhd. (“MSSB”) (Formerly known as FITTERS Industries Sdn. Bhd.) a subsidiary of the Group, together with Ricwil (Malaysia) Sdn. Bhd. (“Ricwil”). The Group is venturing into the market of PVC pressure Pipes in Malaysia and progressively into other South East Asian markets (“Project”). FITTERS will emerge as the major shareholder owning 65% stake.

“The management has studied and taken all business elements into consideration and believes that there is significant potential for PVC (“PVC-O”) pipes in the Malaysian market and South East Asian countries and this will provide positive business ventures for the Group going forward. We are very excited to embark on this business venture that we foresee bring the Group to the next phase of growth.” commented Dato’ Wong.

General

2013-11-28 08:28 | Report Abuse

CONTINUED DOUBLE DIGIT PROFIT GROWTH FOR OCK’S Q3 RESULTS

PUCHONG, 27 NOVEMBER 2013 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider announced its third quarter results for its financial year ending 31 December 2013 (“Q3FY13”) with a revenue of RM40.1 million reflecting an increase of 20.4% increase as compared to its previous quarter of RM33.32 million.

The Group delivered a profit before tax (“PBT”) of RM4.9 million and profit after tax of (“PAT”) of RM4.0 million for the quarter under review representing a profit increase of 19.2% and 29.4% respectively as compared to its previous quarter.

As for OCK’s segmental performance, its telecommunication network services and green energy and power solutions remain to be the Group’s key profit contributors with reported revenues of RM19.6 million and RM15.6 million, respectively for Q3FY2013. Telecommunication network services PBT of RM3.7 million delivered a profit increase of 16.3% against its preceding quarter due to better margins on projects being delivered. OCK’s green energy and power solutions segment delivered a revenue growth of RM6.7 million for its quarter under review due to contributions being recognised from its on-going solar farm contract project in Sepang.

In respect to its cumulative financial performance to date for the financial period ended 30 September 2013, the Group has reported a total revenue of RM104.0 million and a PBT of RM12.3 million.

Commenting on the results Mr. Sam Ooi, Managing Director of the Group said, “Overall the Group’s financial performance thus far has been very encouraging. We are optimistic and will do our very best in securing the best interest of the Group.”

The Group has completed and energized its 1megawatt solar farm and will be expecting revenue contributions in the near future. OCK is anticipating active deployments of 4G LTE from major telecommunication companies in future, which will be a promising opportunity for the Group to capitalise on in the near future.

Tracking on OCK’s regional business developments, the Group will be expecting Cambodia to commence operations and anticipating positive revenue contributions in the future.

General

2013-11-20 08:44 | Report Abuse

DAYA MATERIALS Q3 REVENUE SOARS 95%
Revenue of RM142.4 million and PAT of RM7.1 million for the Q3FY2013

KUALA LUMPUR, 19 NOVEMBER 2013 – Daya Materials Berhad (“DMB” or the “Group”) announced its third quarter results for its financial year ended 30 September 2013 (Q3FY13) with a revenue of RM142.4 million, representing an increase of 95% as compared to financial year ended 30 September 2012 (Q3FY12) of RM 72.9 million. The Group’s Q3FY2013 profit after tax (PAT) of RM7.1 million recorded a growth of 13% against its Q3FY12 of RM6.3 million. The increase in revenue, the largest ever recorded by the Group, was mainly due to continued strong contributions from subsea and E&C businesses.

DMB’s financial performance to date for its nine months of its financial year ended 31 December 2013 (FY2013) has registered a revenue and PAT of RM373.6 million and RM19.3 million respectively, representing an increase of 109% and 29% which shows a tremendous growth, compared to the preceding nine months of its financial year ended 31 December 2012 (FY2012) of RM178.6 million and RM15 million respectively.

In terms of the Group’s segmental performance to date, the Group has recorded higher revenue in the Oil & Gas Segment of RM85.5 million for the quarter ended 30 September 2013, indicating a significant increase in revenue by 515% from RM13.9 million recorded in the previous year corresponding quarter. Higher revenue in the current quarter in the Oil & Gas Segment was mainly due to sales recognition on the offshore cable laying project. The revenue on the Polymer Segment for the quarter ended 30 September 2013 was recorded at RM 4.5 million, an increase of 13% from RM 4.03 million recorded in the previous year corresponding quarter. Consequently, the increase in revenue in the Polymer Segment has resulted in a segment profit of RM 121 thousand for the quarter ended 30 September 2013. The Group achieved lower revenue on Technical Services segment of RM 52.3 million for the quarter ended 30 September 2013, a slight decrease of 5% as compared to RM 54.9 million recorded in the previous year corresponding quarter.

The Group is expecting delivery of its second OSCV, Siem Daya 2 in December 2013.

General

2013-11-20 08:36 | Report Abuse

CREST BUILDER DELIVERS STRONG 3Q RESULTS
CREST BUILDER HAS REPORTED A REVENUE OF RM67.3 MILLION FOR ITS Q3FY2013

PETALING JAYA, 19 NOVEMBER 2013 – Crest Builder Holdings Berhad (“CBHB” or the “Group”) announced its third quarter results for its financial year ending 31 December 2013 (‘Q3FY2013’) with revenue of RM67.3million. The Group’s current quarter under review reported a profit before tax (‘PBT’) of RM9 million, representing an increase of 29% compared to RM7 million from the corresponding third quarter of the preceding year (“Q3FY2012”). The Group recorded a profit after tax (‘PAT’) of RM6 million which translates into an increase of 31.6% compared to RM4.50 million from Q3FY2012.

The Group’s revenue is contributed by its construction division, investment division, and property division in which recorded revenue of RM46.4 million, RM2.3 million, and RM18.6 million respectively.

The overall accumulated 3 quarters performance for the financial year ending 31 December 2013 recorded revenue of RM243.38 million. The Group delivered strong as they recorded a PBT of RM40.22 million which is a 113.35% increase compared to the accumulated 3QFY12 of RM18.85 million. PAT for the accumulated 3QFY13 amounts to RM32.41 million of which approximately RM14.6 million is from the fair value gain of Tierra Crest. This translates into a staggering increase of 151.09% compared to its preceding accumulated 3QFY12 of RM12.91 million.

“We are very happy with the third quarter result which is in line with the management’s internal target. The Group is very optimistic and we are motivated to close this year on a strong note.” commented Mr. Eric Yong, Executive Director of CBHB.

For more information about the Group please go to www.crestbuilder.com.my

General

2013-11-17 23:45 | Report Abuse

ASIA BRANDS DELIVERS ANOTHER DOUBLE DIGIT GROWTH
Recording A Revenue Of RM 90.11 Million

PETALING JAYA, 15 NOVEMBER 2013 – Asia Brands Berhad (formerly known as Hing Yiap Group Berhad) (“ABB” or the “Group”) announced its second quarter results for its financial year ended 31 March 2014 (“Q2FY14”) with a revenue of RM 90.11 million, a staggering increase of RM 20.12 million or 28.75% compared to its first quarter for its financial year ended 31 March 2014 (“Q1FY14”)

For its current quarter under review, the Group recorded a profit before tax (“PBT”) of RM 7.9 million. In comparison to the Group’s Q1FY14, it shows a decrease in PBT, but this is due to the gain on disposal of property that was recorded in Q1FY14.

This also marks the first half of the Group’s financial year ended 31 March 2014 (“H1FY14”), and the Group has achieved a revenue of RM160.11 million, with a PBT of RM21.66 million. The surge in both revenue and PBT for H1FY14 compared to H1FY13 which reported a revenue and PBT of RM58.73 million and RM7.67 million respectively, was due to the contribution from the Group’s new business segments – babywear and innerwear – as a result of a successful acquisition of the subsidiary companies of Asia Brands Corporation Berhad in 14 December 2012.

Commenting on the financial results, Mr Cheah Yong Hock, Group Chief Executive Officer (“Mr. Cheah”) said “The acquisition of leading brands such as Anakku and Audrey allowed us to expand our business into babywear and innerwear segments, making us a brand conglomerate with an increased market share, enlarged customer base and more distribution channels within the apparel industry.”

On the 24 October 2013, the Group paid a final dividend of 5% less income tax amounted to RM2.97 million for the financial year ended 31 March 2013 (“FYE13”).

“We greatly appreciate the continuous support of our shareholders and we will continue to do our best in taking the company to the next level.” commented Mr Cheah.

General

2013-11-04 19:45 | Report Abuse

FULL STEAM AHEAD FOR PFCE’S MAHA TOWER
PFCE TODAY HOSTED ITS PILING CEREMONY OFFICATED BY
FORMER PRIME MINISTER,
Y.A.BHG TUN DR MAHATHIR MOHAMAD

LANGKAWI, KEDAH, 04 NOVEMBER 2013 – PFCE Integrated Plant and Project (“PIPP” or the “Company”) held its piling ceremony for the MAHA Tower and its 28.5 acres of integrated tourism development project today. The event was officiated by the Former Prime Minister of Malaysia - Y.A.Bhg Tun Dr. Mahathir Mohamad.

PIPP is a special purpose vehicle incorporated to undertake the development of the MAHA Tower and the commercial developments surrounding the said tower. The Company had been in talks and working very closely with Lembaga Pembangunan Langkawi (“LADA”) for an extensive period of time for the proposed development before it was eventually fully awarded to PIPP.

The project was originally proposed by PIPP’s team with a vision to further enhance the inflow of tourist and once again place Langkawi Island on the world map as one of the tourist hotspots. The proposed iconic tower - MAHA Tower - will stand at a height of 138 metres with a telecommunication control room at 111 metres and an observation deck at 102 metres and above sea level with a view of Pulau Dayang.

The site of the proposed development project is in the process of reclamation with approximately over 2 acres of the land being reclaimed thus far by Dekinjaya Builders Sdn. Bhd. who is also the appointed construction company for this upcoming project.

PIPP targets to complete the construction for the MAHA Tower by mid-2015. In addition to the tower there will be a surrounding commercial developments, which will comprise of service apartments, hotels, multi-storey retail units etc. The estimated GDV for this integrated tourism development project will be approximately RM300 million

“In addition to being a major landmark in Langkawi, I believe that this development will also attract positive economic activities for Langkawi and Kedah” commented by Dato’ Abu Hassan Bin Mohamed, Special Adviser to PFCE Integrated Plant & Project Sdn. Bhd.

Upon the completion of the MAHA Tower, PIPP will be the legal owner of the tower and shall be responsible for the property management and commercial activities of the tower until the expiry of the lease.

“I believe that the development of Langkawi will have a positive impact as a result of an increase in tourist numbers and also an increase in investment from the private sector towards future projects.” commented Ybhg. Tan Sri Khalid bin Ramli, Ketua Pegawai Eksekutif LADA.

General

2013-10-22 18:34 | Report Abuse

CENSOF LAUNCHED CPAY MOBILE APPLICATION

KUALA LUMPUR, 22 OCTOBER 2013 – T-Melmax Sdn. Bhd. (“T-Melmax”), a wholly-owned subsidiary of Censof Holdings Berhad (“Censof” or the “Group”) today launched the T-Melmax’s Cpay Mobile Application which was held at Istana Hotel early this morning. The launch was initiated by Yang Bahagia Datuk Badlisham Ghazali, Chief Executive Officer of Multimedia Development Corporation Sdn. Bhd. and Mr. Ameer Shaik Mydin, Chief Executive Officer of T-Melmax Sdn. Bhd. and was witnessed by Datuk Samsul Hj Husin, Group Managing Director of Censof Holdings Bhd. and Yang Berusaha En. Abdul Manap Din, Executive Director of Tax Operations Department, Inland Revenue Board of Malaysia.

“Cpay Mobile App was developed with the sole intention of providing ease in Business Payment Approval to all Business Owners/CEOs/FCs, 24x7, irrespective of location. These Executives will be able to view all the transactions before proceeding with their approvals, with the confidence of our stringent technical securities in place to avoid any potential fraud that may occur,” said Ameer Shaik Mydin. “We, at T-Melmax, holding on to our Corporate tagline ‘driving business solutions’, will constantly integrate and innovate our Cpay Payment & Collection Gateway to launch businesses to greater heights,” he further added.

With the advancement of technologies, businesses are preparing themselves in order to walk side-by-side with the pace of such transformation. As time move on, consumers too have significantly changed to follow the augment of e-commerce and the increasing of the smart phones has presented new ways towards their management.

“New technologies are expanding possibilities in the ways that seemed unimaginable only a decade ago. Now, payment providers are seeking ways to bring mobile technology to payments to compliment with the significant change in the consumers payment habits over the recent past” said Datuk Badlisham Ghazali. “Such technology is very important as Malaysia today is still very much a cash-based society with 91% of transaction done using cash, thus it will minimize the expenditure” he further added.

“The mobile application was developed with the sole intention of providing SMEs and enterprises ease in business payment and I am confident that Cpay Payment and Collection Gateway will launch Malaysian SMEs and business to greater heights,” said Datuk Badlisham Ghazali.


About T-Melmax Sdn Bhd
T-Melmax Sdn Bhd (T-Melmax) a wholly-owned subsidiary of Censof Holdings Berhad is a Bumiputera-Status ICT company registered with the Ministry of Finance & is also an active MSC status company. It is an investee company of Malaysia Venture Capital Management Berhad (MAVCAP). This company was established with the purpose to develop innovative technology solutions for various industries with special focus on financial applications.
The focus of T-Melmax is on development of web based electronic banking solutions to facilitate retail and wholesale transaction processing. The solutions are equipped to handle processing of bulk payment, bulk collection, retail payment and other variety of payments with interface to IBG (Inter Bank Giro), FPX (Financial Processing Exchange – Payment Gateway in Malaysia) and Statutory bodies such as EPF (Employee Provident Fund), SOCSO (Social Security) and LHDN (Income Tax).

For more information, please visit www.censof.com.my

General

2013-10-21 20:22 | Report Abuse

Datasonic Group Berhad(“Datasonic”) has this evening announced its wholly-owned subsidiary, Datasonic Technologies Sdn. Bhd. (DTSB) has accepted the Letter of Award (LOA) from Majlis Perbandaran Pulau Pinang (MPPP) for the installation of CCTV cameras on the Penang Island for a contract sum of RM5,786,595.00.

Link to Bursa Announcement for further details: -

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1438445

General

2013-10-21 20:02 | Report Abuse

CENSOF CONTINUES TO EXPAND OVERSEAS
CENTURY SOFTWARE SIGNS MOU WITH LEADING MYANMAR IT COMPANY

YANGON, MYANMAR, 21 OCTOBER 2013 – Century Software (Malaysia) Sdn. Bhd. (“CSM”), a wholly-owned subsidiary of Censof Holdings Berhad (“Censof” or the “Group”) today signed a Memorandum of Understanding (“MOU”) with Myanmar Information Technology PTE Ltd. (“MIT”) in Yangon, Myanmar - where the International Myanmar ICT Exhibition was held. The MOU was signed by Tamil Selvan Durairaj, CEO of CSM and Ni Ni Tun, Director of Business Development Department, MIT and was witnessed by Ng Wan Peng, COO of MDeC and Dr. Tun Thura Thet, CEO of MIT.

The collaboration between CSM and MIT will enable the latter to sell, license, market and distribute CSM products and services. It will also allow both parties to combine their diverse but complimentary capabilities to carry out and execute future projects.

“Due to the diverse capabilities and operational strengths from both parties the collaboration will provide synergistic benefits to develop the best management and technical approach and support for the specified projects and clients in Myanmar” commented Mr. Tamil Selvan Durairaj. “There are definitely promising business potentials ahead of us and we look forward to developing a long-term business partnership with MIT” he further added.

MIT one of the largest System Integrator in Myanmar with 300 staff strength currently has a client portfolio with over 3000 clients covering a wide range of industries including the banking sector, retail, enterprise systems, healthcare and hospitality. Under its information systems development segment MIT services banks and financial institutions in Myanmar including its largest bank, Kanbawza Bank (KBZ). Additionally, MIT has tapped into overseas markets such as Singapore, the United Kingdom, Spain, Malaysia and Cambodia. Hence, this business collaboration will not only provide CSM with extensive business prospects in Myanmar but also provide CSM an opportunity to further expand overseas.

“Censof is a prominent and popular organisation in Malaysia and both companies are government linked in their respective countries, this collaboration would be an effective venture in the region” commented Tun Ni Ni during the signing last Friday.



About Censof Holdings Bhd

Incorporated in 1997 as a specialist for financial management solutions, Censof is today at the forefront of the industry in Malaysia and the global business arena. Together with our sister companies, the Censof Group of Companies has established presence in Malaysia, Indonesia and the United States, with financial management solutions, e-payment gateway services, and investment/asset management solutions.

Our primary business operations include system design, development geared towards its implementation in installation, maintenance, and support; certified by the ISO 9001:2008 standards, established by a Bureau Veritas Certification.

In January 2011, the Group was listed on the Main Market of Bursa Malaysia. In 2011, Censof successfully acquired a 60% stake in PT. Praisindo Teknologi and one year after, the Group acquired a 80% of stake in Knowledgecom Corporation Sdn. Bhd. In Year 2013, the Group announced a First and Final Single Tier Dividend of 1.0 sen per ordinary Share for the Financial Year Ended 31 December 2012. At the same time, Censof signed a MoU with Estemarat Services from UAE to pursue business potential in United Arab Emirates, Middle East and Africa.

General

2013-10-16 18:19 | Report Abuse

DAYA’S SIEM DAYA 1 SECURES ADDITIONAL CONTRACT
Daya Offshore Construction Secures Charter Party Contract with Allseas UK Ltd.

KUALA LUMPUR, 16 October 2013 – Daya Materials Bhd. (“DMB” or the “Group”) announced today that it has secured a second Charter Party Contract (the “Contract”) with Allseas UK Ltd. DMB will be deploying Siem Daya 1 for this Contract with the Charter scheduled to commence in October 2013. The estimated total contract value is worth up to RM11.8 million for a contract period of 20 – 30 days.

Daya Offshore Construction Sdn. Bhd. (“DOC”) (formerly known as SD Equipment Sdn. Bhd.), a wholly-owned subsidiary of DMB is the entity contracted for the provision of offshore walk to work subsea construction vessel, together with a range of offshore services for the United Kingdom North Sea Region (“Charter”).

Siem Daya 1, the Group’s newly built offshore subsea construction vessel (“OSCV”), had on the 16 August 2013 secured its first contract with Technip Norge AS, Norway with a total contract value of up to RM440.0 million. Thus, with the two abovementioned contracts secured to date Siem Daya 1 currently has a combined order book of up to RM451.8 million.

“We are working hard on continuously bidding for additional contracts for Siem Daya 1 and having these two contracts secured thus far, it is providing us with a promising outlook that we are progressively building the company’s profile within the oil and gas industry not only in Malaysia but globally.” commented Dato’ Mazlin, Group CEO of DMB.

The Group is expecting delivery of its second OSCV, Siem Daya 2 in December 2013.

About DOC
DOC provides specialised subsea construction, installation, engineering, inspection repair and maintenance services that involve complex engineering to the offshore energy industry worldwide. It operates a fleet of vessels in a safe, efficient and effective manner, coupled with technically advanced equipment, survey systems, Remotely Operated Vehicles (“ROVs”) and modulated diving systems (“MHS”) complimented by a fully integrated in-house engineering and project management capability.




About Allseas UK Ltd.
Allseas UK Ltd. is a key unit of the Swiss-based Allseas Group. The group was founded in 1985 and is a global leader in offshore pipeline installation and subsea construction. It employs over 2,300 people worldwide and operates a versatile fleet of specialised pipe-laying and support vessels, designed and developed in-house.
***

About Daya Materials Berhad

Daya Materials Berhad (“DMB” or the “Group”) was established in 1994 with the vision of creating an integrated oil & gas company based in Malaysia with a global reach. We are now a major player in the regional oil & gas industry with operations throughout the Asia Pacific region. DMB is listed on Bursa Malaysia with a stock symbol "DAYA" and stock code "0091".
DMB’s business is predominantly involved in downstream and upstream O&G sectors, engineering & construction and investments. Our O&G services encompass pipe-laying, submarine cable-laying, automated welding, subsea installation, OSCV/AHTS charter & marine services, offshore manpower, well intervention & completion, downhole services, marine HVAC, upstream & downstream chemicals, cranes & lifting, FPSO installation, mooring and desludging. The oil & gas sector is the key focus direction in which the company has developed various strategic partnerships to venture into marginal oilfields and brownfield developments, drilling services, fabrication, EPCIC, testing & inspection as well as hook-up & commissioning.


For more information, please log on to http://dayagroup.com.my/

General

2013-10-09 19:32 | Report Abuse

CENSOF GETS SC’S NOD FOR TIME DEAL
Acquisition of 45.03% in Time Engineering Berhad

PETALING JAYA, 9 October 2013 – Censof Holdings Berhad (‘Censof’ or the ‘Group’) a brand synonymous with innovative and dependable solutions for both the government and corporate sectors across a myriad of industries, today announced that it has received confirmation from the Securities Commission Malaysia (“SC”) of its concurrence that the proposed acquisition of 45.03% equity interest in TIME Engineering Berhad (“TEB”) (“the Acquisition”) and the subsequent mandatory general offer for the remaining shares in TEB (“MGO”) by Censof would not result in a significant change in the business direction or policy of Censof, and therefore are not subject to SC’s approval under Section 214(1) of the Capital Markets and Services Act, 2007 (“CMSA”). Prior to this, Censof received approval from Bursa Malaysia Securities Berhad (“Bursa Malaysia”) to waive from complying with the requirement to obtain the approval of its shareholders subject to the condition that it will procure shareholders’ ratification for the AcquIsition and the MGO within two months from the date of completion of the Acquisition. In light of these developments, the conditional share sale and purchase agreement dated 12th September 2013 in relation to the Acquisition has become unconditional resulting in Censof being deemed to have beneficial interest over the 349,112,731 ordinary shares of RM0.20 each in TEB.

Khazanah Nasional Berhad (“Khazanah”) first announced its intention to divest its entire 45.03% equity interest in TEB on 19th December 2012 as part of its continuing effort to assist the Government in promoting entrepreneurship and raising Bumiputera equity participation in the Malaysian corporate sector. The selection process involved three stages and Censof succesfully won the bid and sealed the deal last month to acquire the 349 million equity shares at a price of RM0.20 each, resulting in a total consideration of nearly RM70 million.

This acquisition will result synergies that will enable both Censof and TEB to strengthen their value proposition, capitalise on an enlarged customer base, and at the same time delivering a more comprehensive product offering, therefore enhancing shareholder’s value in the long run.



About Censof Holdings Bhd

Incorporated in 1997 as a specialist for financial management solutions, Censof is today at the forefront of the industry in Malaysia and the global business arena. Together with our sister companies, the Censof Group of Companies has established presence in Malaysia, Indonesia and the United States, with financial management solutions, e-payment gateway services, and investment/asset management solutions.

Our primary business operations include system design, development geared towards its implementation in installation, maintenance, and support; certified by the ISO 9001:2008 standards, established by a Bureau Veritas Certification.

In January 2011, the Group was listed on the Main Market of Bursa Malaysia. In 2011, Censof successfully acquired a 60% stake in PT. Praisindo Teknologi and one year after, the Group acquired a 80% of stake in Knowledgecom Corporation Sdn. Bhd. In Year 2013, the Group announced a First and Final Single Tier Dividend of 1.0 sen per ordinary Share for the Financial Year Ended 31 December 2012. At the same time, Censof signed a MoU with Estemarat Services from UAE to pursue business potential in United Arab Emirates, Middle East and Africa.

For more information, please visit www.censof.com.my

General

2013-10-01 08:17 | Report Abuse

KUCHING, SARAWAK, 30 SEPTEMBER 2013 – Sarawak Timber Industry Development Corporation (“STIDC”) has today signed the Reorganisation & Rationalisation (“R&R”) Agreement with PUSAKA Capital Sdn Bhd (“PUSAKA Capital”), a special purpose vehicle, incorporated by STIDC to spear head the initiative to reorganise and rationalise the Group (“Proposed R&R Exercise”). This governance structure (see Appendix A) which led to the implementation of the Proposed R&R Exercise was recently approved by the Board of STIDC, led by YB Datuk Amar Haji Awang Tengah Ali Hasan, Chairman of STIDC and Minister in charge of STIDC in Sarawak.

The Proposed R&R Exercise clearly segregates STIDC’s regulatory function for timber industry from its other roles. The more focus role allows STIDC to spear head the transformation journey in the advancement of innovative timber industry which requires a lot of financial resources in delivering a more effective facilitation role and provision of comprehensive supporting eco-system.

On the other hand, the commercial functions would help generate more diversified sources of revenue to sustain its regulatory role, minimizing the need to depend on government funding and promote financial self-sustainability.

As part of the Proposed R&R Exercise, STIDC will transfer real properties with land areas of approximately 1,280 hectares in Tanjung Manis and several of its key operating companies, such as Tanjung Manis Integrated Port Sdn Bhd, Tanjung Manis Development Sdn Bhd etc to PUSAKA Capital which will be satisfied via the issuance of new PUSAKA Capital ordinary shares together with warrants. In addition, STIDC will subscribe up to RM100 million investment instruments which carry coupon of 4% to be issued by PUSAKA Capital.

The identified projects for PUSAKA Capital, which range from the development of Palm Oil Industry Cluster (“POIC”) and related ports and logistic infrastructure investment such as the Independent Operating Terminals as well as the establishment of new Administrative Centres and Townships for Tanjung Manis and various timber related initiatives within the State of Sarawak etc, are estimated to generate an estimated project values of at least RM3.8 billion and will contribute significant economic impacts to Sarawak and the Sarawak Corridor of Renewable Energy (“SCORE”) region. Tanjung Manis is one of the key identified areas for the southern SCORE region of Sarawak.

The Chairman of STIDC, YB Datuk Amar Haji Awang Tengah Ali Hasan, said, “The Proposed R&R Exercise is an important milestone for STIDC as it serves to institutionalise the various investments and business opportunities of STIDC and its group of companies in order to have a clearer segregation of regulatory functions of STIDC from its commercial arms to operate various commercial related projects as well as to segregate risks and required returns on various investments made within the STIDC Group.”

Within the PUSAKA Capital, four (4) wholly-owned subsidiaries have been set up (Appendix B) to serve the four targeted business segments as follows:-
- PUSAKA Palm Oil Industry Sdn Bhd
- PUSAKA Logistics & Services Sdn Bhd
- PUSAKA Realty & Construction Sdn Bhd
- PUSAKA Timber Industries Sdn Bhd

The Chairman added “With the establishment of PUSAKA Capital, it will transform STIDC Group from a Statutory Body mandated to develop the timber industry in Sarawak into a more diversified group via its commercially operated arms ie: PUSAKA Capital, to further complement and diversify the earnings platform for STIDC and hereby establish a sustainable and long term business model for STIDC Group.”

Datu Haji Sarudu Bin Haji Hoklai, the General Manager of STIDC further added that I am very delighted that STIDC have finally taken the necessary steps to implement the Proposed R&R Exercise which is expected to be completed by end of this year”.

He further added that, “As there will be four (4) subsidiaries with different unit functions, it will enable the Group to have a clearer direction going forward. The clear segregation of functions would enable each core segment to increase their overall value contribution, and for PUSAKA Capital to capture avenues of new growth for the STIDC Group.”

This Proposed R&R Exercise will provide PUSAKA Capital with a strong business structure and offer the Group with better access to larger scale business opportunities and funding commitments required to meet the projects identified by PUSAKA Capital. As such, with the completion of the Proposed R&R Exercise, PUSAKA Capital will be financially and operationally prepared for mega projects in the region going forward.

“Most importantly, with this Proposed R&R Exercise, we are also proud to be able to give all the staff in STIDC with the right knowledge, skill and experience and further opportunities for career enhancement in PUSAKA Capital Group,” added by the Chairman.

Astramina Advisory Sdn Bhd is the appointed Independent Financial Adviser.

General

2013-09-27 00:50 | Report Abuse

YINSON MAINTAINING HEALTHY RESULTS FOR Q2FY2014
Yinson records RM227.4 million for its Q2 revenue


KUALA LUMPUR, 26 SEPT 2013 – Malaysia’s premier integrated offshore services provider, YINSON HOLDINGS BERHAD (“Yinson”, the “Company” or “云升控股有限公司”) reported a revenue of RM227.4 million for the quarter ended 31 July 2013 (“Q2FY2014”), which represents a decrease of 3.6% compared to RM235.8 million for the corresponding quarter of the previous year (“Q2FY2013).

The Company also reported a pre-tax profit (“PBT”) of RM13.2 million for the quarter under review, and net profit after tax (“PAT”) of RM11.2 million. This translates to an increase of 2.3% and 4.7% for PBT and PAT respectively as compared to Q2FY2013.

Looking at the first half of the financial year 2014 (“H1FY2014”), the Company reported an increase in PBT of 15.6% to RM31.2 million compared to the corresponding period in the last financial year (“H1FY2013”). The improvement in pre-tax earnings was mainly due to the contribution from the Company’s marine business segment as well as the recognition of its share of income from a joint venture company of RM15.7 million for the six months period. It was partly offset by the decrease in contribution from the trading and transport segments, an increase in net borrowing expenses and share of loss in an associate of RM1.6 million and RM1.5 million respectively, and an increase in foreign exchange losses of approximately RM3.3 million due to the weakening of Ringgit Malaysia.

In terms of the Company’s segmental revenue, its marine business segment achieved revenue of RM45.5 million for H1FY2014, an increase of 40% compared to H1FY2013. The reason for the higher revenue was mainly due to the increased contribution from the charter of its two new vessels. The Company’s transport, trading and other operations segments contributed RM54.1 million, RM355.5 million, and RM0.5 million respectively to the top line.

Commenting on the latest financial results, Yinson’s Chairman and Managing Director, Mr. Lim Han Weng (“林汉荣”), said, “We are optimistic that we will maintain and deliver better results for the rest of the financial year.”

On the 31st of July 2013, the Company hosted their Twentieth Annual General Meeting (“AGM”) and subsequent to that it held an Extraordinary General Meeting (“EGM”) on the 28th of August 2013. At the EGM, the Company received approval from its shareholders for its proposed acquisition for all ordinary shares of Norwegian Krone (“NOK”) RM1.00 each in Fred Olsen Production ASA (“FOP”), a company listed on the Oslo Stock Exchange. The Company also received shareholders’ approval for the proposed issuance and allotment of 37,809,000 new ordinary shares of RM1.00 each at an issue price of RM2.82 per New Issue Share to Kencana Capital Sdn Bhd, which will be satisfied in cash.

On the 3rd of September, the Company announced that it had received acceptance for a total of 102,797,421 shares in FOP, which amounts to approximately 97% of FOP’s outstanding shares.

Mr. Lim added, “We are glad to have Fred Olsen on board and we will be on the lookout for more golden opportunities that lies ahead.”

General

2013-09-05 10:22 | Report Abuse

Daya Materials Berhad has today announced that it has secured a contract for the provision of a SECOND OFFSHORE SUBSEA CONSTRUCTION VESSL (dubbed Siem Daya 2) with the option to purchase 51% of the vessel. Daya Materials have also secured a long-term charter contract with Technip Norge AS Norway worth up to RM176 million for the Siem Daya 2 vessel.


CHARTER PARTY CONTRACT WITH TECHNIP NORGE AS, NORWAY
The Board of Directors of Daya Materials Berhad (“DMB”) is pleased to announce that its sub-subsidiary, Daya OCI (Labuan) Limited (“DOCIL”) (formerly known as Daya OCI (Labuan) Berhad) had on 3 September 2013 entered into another Charter Party Contract (the “Contract”) with Technip Norge AS of Norway in relation to the appointment of DOCIL as a contractor for the provision of second offshore subsea construction vessel which is to be named the Siem Daya 2 together with a range of offshore services on a long-term charter basis for the North Sea and North Atlantic Regions (the “Charter”). Daya Offshore Construction Sdn. Bhd. (“DOC”) (formerly known as SD Equipment Sdn. Bhd.), a wholly-owned subsidiary of DMB will be executing the Charter on behalf of DOCIL.

Link to announcement 1: -
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1400177

CHARTER FOR OFFSHORE SERVICE VESSEL FROM SIEM OFFSHORE REDERI AS
The Board of Directors of Daya Materials Berhad (“DMB”) is pleased to announce that its sub-subsidiary, Daya OCI (Labuan) Bhd. (“DOCIL”) had on 3 September 2013 entered into a charter agreement with Siem Offshore Rederi AS for one of their DP2 Offshore Subsea Construction Vessels (“OSCV”) which is to be named the Siem Daya 2 (“the Vessel”) (“the Charter”) for five (5) years with an option to purchase.

Link to announcement 2.: -
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1400165