Thursday, May 31, 2012

Why GENTING MALAYSIA Net Profit DOWN 35%

GENTING MALAYSIA BERHAD ( GENM )
- First Quarter ended 31/03/2012
- Announcement date 30/05/2012

Genting Malaysia's net profit was down more than 35% for 1Q, it was mainly due to its development of Resorts World Casino New York City (PRWCNYC) and lower revenue from its leisure and hospitality business in Malaysia.

Thursday, May 24, 2012

MPHB is planning to have a major restructuring

MPHB is planning to have a major restructuring that will separate the non-gaming and gaming units. By doing so, a new entity will appear to house its non-gaming assets and leaving Magnum Corporation Bhd the cash-cow and profitable numbers forecast operator alone.


Below are news extracted from Theedgemalaysia.com:

KUALA LUMPUR: Multi-Purpose Holdings Bhd (MPHB) is planning a major restructuring that will feature the creation of a new entity to house its non-gaming assets, a move that will turn the group into a pure proxy for the gaming sector.

Under the plan, MPHB is proposing to inject its interests in properties, hotels and financial services into a special purpose vehicle and leave the group with one asset, Magnum Corp Bhd, the profitable numbers forecast operator.

Financial executives familiar with the corporate proposal said shares in the new entity that will house the group’s non-gaming assets will be distributed to shareholders before a public listing.

MPHB is considering presenting the plan to shareholders at the company AGM today, according to a financial executive familiar with the exercise.

“The purpose of this exercise is to make MPHB a pure gaming outfit while creating another new listed company focusing on properties, hotels and financial services. It’s better to separate the gaming and non-gaming businesses into two listed entities to unlock the values for shareholders,” he said, adding that the listed companies would have greater appeal to different sets of institutional investors.

A restructuring at the MPHB group has been expected since it acquired a 47% stake in Magnum from private equity firm CVC Asia Pacific Ltd and another 2% from certain members of Magnum’s management for a total consideration of RM1.64 billion. That transaction was financed via the issue of new MPHB shares and cash.
In a nutshell, the exercise made Magnum a 100% subsidiary of MPHB, while CVC realised some RM600 million cash from its Magnum stake and received new shares in MPHB. CVC held an 11.21% stake in MPHB as at April 4, making it the second largest shareholder after Casi Management Sdn Bhd, which holds 28.35% equity interest. Casi is a vehicle controlled by Datuk Surin Upatkoon, who effectively owns a 33% stake in MPHB.

While the 2011 exercise mainly benefited CVC, the latest restructuring plan could benefit other MPHB shareholders, who would have shares in the new listed company in addition to their current holdings in MPHB, said a market observer.

Shareholders can either cash out from the new listed company containing the non-gaming assets or stay on to reap the growth of its property development plans.

MPHB entered into a deal with Bandar Raya Developments Bhd (BRDB) last year to jointly develop land in Penang, Rawang and Mimaland (Gombak) in Selangor. The joint development deal covers a total of 670 acres (271ha) and is expected to generate a combined gross development value of around RM4.25 billion.

However, it remains to be seen if the group wishes to further grow its financial services business, which comprises a general insurance business under Multi-Purpose Insurans Bhd and stockbroking outfit A A Anthony Securities Sdn Bhd. It has been reported that MPHB is looking to divest Penang-based A A Anthony through a management buyout.

This article appeared in The Edge Financial Daily, May 23, 2012.

Wednesday, May 23, 2012

Tuesday, May 22, 2012

Monday, May 21, 2012

JCY Earning Increased 130%

JCY INTERNATIONAL BERHAD
- Second Quarter ended 31/03/2012
- Announcement date 17/05/2012


Saturday, May 19, 2012

Friday, May 18, 2012

Wednesday, May 16, 2012

MSC Disastrous 1Q

MALAYSIA SMELTING CORPORATION BERHAD ( MSC )
- First Quarter ended 31/03/2012
- Announcement date 11/05/2012

Tuesday, May 15, 2012

Monday, May 14, 2012

CSCSTEL Earning Drop 76%

CSC STEEL HOLDINGS BERHAD ( CSCSTEL )
- First Quarter ended 31/03/2012
- Announcement date 11/05/2012

Friday, May 11, 2012

HARTA Earning Drop Slightly

HARTALEGA HOLDINGS BERHAD ( HARTA )
- Fourth Quarter ended 31/03/2012
- Announcement date 09/05/2012


Thursday, May 10, 2012

Tuesday, May 8, 2012

MPHB is moving up again


MPHB share price has been moving up steadily for last few days. The price had gone up from RM2.70 to RM3.02.

MPHB had been aggressively selling their non-gaming businesses, meaning there are to transform the group into a gaming company. Magnum Corporation Sdn Bhd a numbers forecast operator (NFO) is under MPHB group.

There are also planning to dispose their insurance company, Multi-Purpose Insurance.

Another reason for the share price to move up is the company may pay-out special dividend to investors.
For last few years, the company had been consistently paying out 10% dividends to shareholders.

Kenanga Investment Research target price for MPHB is RM3.72.

Friday, May 4, 2012

Wednesday, May 2, 2012

A Good Result from PANTECH

PANTECH GROUP HOLDINGS BERHAD (PANTECH)
- Fourth quarter ended 29/02/2012
- Announcement date 30/04/2012


Tuesday, May 1, 2012

City in front

Man City are back to the top of Premier League table after beating Man Utd 1:0 last night. The only goal of the match was contributed by Kompany right before half time.

The expectation on the match was high but it was a disappointing match. Both goalkeepers hardly being tested. Man Utd did not played to their usual attacking football and the ball was mostly held by Man City.

Man City deserved to win this match. With two matches remaining for both teams, meaning this season winner will be decided at the very last match.

The final two matches are favor to Man Utd. There are playing Swansea at home then followed by Sunderland away. Both opponents are mid-table team and are saved from relegation. There are nothing to play for except to finish their scheduled matches.

For Man City, there have to fight hard to win the remaining two matches. Their opponents are fighting for European Champion League place and also relegation survivor team.

Man City will be away against Newcastle and at home to QPR.

With two tough matches ahead. It will not be surprised to see Man Utd win the championship for their 20 league title.
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