Naim Indah Corporation Bhd (NICorp) is teaming up with Keloil Sdn Bhd to venture into the oil and gas industry, which would focus on the production of household and industrial gas cylinders and bottling of liquefied petroleum gas (LPG).

NICorp said on Friday the JV would be with Keloil's subsidiary Keloil-PTT LPG Sdn Bhd (KPL) and associate company Erawan LMW Industries Sdn Bhd.

The JV would seek businesses in the O&G industry and to promote and brand the LPG cylinders, while also seeking to expand the Keloil group.

According to NICorp, KPL''s core business is the bottling, bulk supply, seller and supplier of LPG gas cylinders. Its current principal market covers peninsular Malaysia.

Currently, KPL has two LPG bottling facility operations in Bukit Kayu Hitam and Bachok. KPL is a joint venture company with Petroleum Authority of Thailand (PTT) where Keloil a 60% stake.

The two bottling facilities have the capacity to bottle up to 6,000 tonnes on a monthly basis.

Erawan manufactures domestic and industrial gas cylinders for both local and export market. Its current principal market covers peninsular Malaysia.

this technical analysis its from RHB today

Technically, yesterday’s volume-driven breakout above the SMAs and the triangle formation is a bullish indication that the stock’s price has ended its consolidation and would continue to trend upwards.Given the positive short-term outlook, we expect the stock’s price to breakout above the 50% FR level of RM1.30 and move towards the next major resistance region of RM1.40-1.47 in the short term. Any further breakout above RM1.47 would then lead to a retest of its all-time high of RM1.61 over the medium term.

loiusecliffe@gmail.com tq

Sent via emailFor davidklfoong@yahoo.com,Roseeu1688@yahoo.com, invest1m168@gmail.com, khan_22463@yahoo.com.my

Pls Check . TQ

Unveiling Potential

We initiate coverage on Kumpulan Fima Berhad (KFima) with an Outperform
recommendation target price RM3.21 based on our sum-of-parts valuation and forward 6x pe multiple, with 33% upside. Our interest in KFima stems from its strong balance sheet coupled with their potential growth which we believe is yet to be unveiled to the market.

Potential M&A synergies. If the group plans to consolidate with its listed subsidiary FIMA Corporation (FIMA Corp), we believe the merger will enhance the overall value of the company as minority shareholding is diluting the actual earnings of the company.

Expansion plans. With current 13,000ha of palm oil plantation, KFima is
actively on the lookout to acquire more landbank to boost earnings further from their plantations segment. For their food division, we expect their mackerel and tuna operations in Papua New Guinea to take-off by 2014 upon stepping up capacity to 100% from their current 40%.

Resilient amidst turbulent markets. KFima‟s sustainability is backed by its well-diversified business structure operating in 5 core segments, which we believe the sum-of-parts valuation for each segment is deserving of a higher valuation.

Bonus earnings. The group sits on a large cash pile with free cash flows for the past 5 years exceeding minimum RM100m.

Outperform with potentially higher dividends. We believe KFima is
undervalued at this price as our sum-of-parts (SOP) valuation measures the company to be of a higher value. Trading at a discount to its peers, we believe there are further upward pricing opportunities, not to mention more dividends which the group could distribute from its growing cash pile.

Sorry i unable to published the whole 13 pages write up on Kfima , if you need the softcopy i can share via email .