Posted by bnmacai > 2020-09-13 23:03 | Report Abuse
Poic is a direct competitor, not a complement. You may check what POIC offers. Unless one day Suria come up and say they gonna acquire POIC bla bla... but it won’t happen. Not for now. Taiwanese is holding certain % is Poic.
================================================== Posted by human > 2020-09-14 16:03 | Report Abuse
Poic is Palm Oil Industrial Cluster (POIC). The current Poic is new 28++ acres development of palm oil processing industries with port facilities.
Suria Capital has 4 main business segments, one of them is port operations which operate under subsidiaries Sabah Ports Sdn Bhd. SPSB main revenue is from 7 ports and 1 oil terminal. One of SPSB ports Lahad Datu Port is serving existing developed palm oil industries.
Poic Lahad Datu ports facilities is meant to support industries under the new Poic development while SPSB Lahad Datu ports facilities is serving existing Lahad Datu developed palm oil industries.
These ports are not meant to compete with each other.
Suria Capital major shareholder is Warisan Harta Sabah (Sabah State government investment arm) while POIC is setup by Sabah state government to attract investment to Sabah.
They are different and not conflicting. =======================================
I re-read and re-read the above comments..still give me a impression that POIC is a direct competitor of Suria. Only if Suria acquire POIC, if not..Suria further growth is restricted..
Any latest and updated news regarding POIC? How is POIC now..?
While there were concerns among analysts about how Affin Bank would plug the earnings hole left by AHAM — the latter accounted for 20% to 30% of group earnings — it was nevertheless seen as a deal too good to be passed up.
The offer from CVC came at a time when the group urgently needed funds to feed its fast-growing Islamic banking business.
“We felt if we didn’t take the offer, we might never get another offer with similar valuations,” president and group CEO Datuk Wan Razly Abdullah Wan Ali said in a recent interview with The Edge.
The divestment, which was completed on July 29, enabled Affin Bank to recognise a net gain of RM1.063 billion, the bulk of which will be used to fund its core banking activities and for working capital.
It also helped lift its common Equity Tier-1 ratio, a key indicator of capital strength, to 16.3% as at end-September, from 13.4% three months earlier, well above the industry’s 15.1%.
Affin Bank was then able, in the third quarter, to strengthen its loan loss coverage ratio to 112.25%, from a mere 80% three months earlier, putting it more in line with the industry.
Renewal of Bintulu Port’s concession underway. The concession will expire on 31 Dec 2022, with the option to extend for another 30 years to 2052. The extension has been approved in principle, and BiPort as well as Bintulu Port Authority are in the midst of finalising the terms and conditions for the new concession agreement. An interim agreement was signed for 6 months from 1 Jan 2023. We expect the terms to be finalised by the expiry of this interim agreement. We believe that would be a hike in tariffs upon the renewal of the concession. Bintulu Port’s average terminal handling charges are significantly lower than Samalaju Industrial Port (Exhibit 7). Likewise, Bintulu Port’s terminal handling charges for its containers are also lower than peers (Exhibit 8). Recall that Bintulu Port’s general cargo tariffs were last revised 39 years ago in 1983 while container tariffs were raised 23 years ago in 1999.
Details of corporate proposal Dividend reinvestment plan applicable to the special dividend and interim dividend in respect of the financial year ending 31 December 2022 ("5th DRP") No. of shares issued under this corporate proposal 61,559,377 Issue price per share ($$) Malaysian Ringgit (MYR) 1.8500 Date of listing: 30 Dec 2022