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Posted: 28 Sep 2012 05:18 PM PDT

PETALING JAYA: Scomi Group Bhd chief executive officer Shah Hakim Zain (pic) was the initiator behind the Scomi Group Bhd-IJM Corp Bhd tie-up, and discussions about possible alliances have been going on for the past few years, said a spokesperson for Scomi.

"There have been discussions and interest shown about this possible alliance over the past few years, from time to time. However, this time it was concluded," said the spokesperson.

Scomi closed Friday higher, with Scomi continuing to be heavily traded. IJM, which has been sold down 11% since the deal was first announced on Monday, gave up its gains yesterday after its 21 sen rebound on Thursday. IJM finished the day down 2 sen at RM4.72 on volume of 7.25 million shares. Scomi was up 2 sen at 39 sen on volume of 84.5 million shares.

To recap, IJM on Monday announced it was taking up a 25.08% stake in Scomi for a cash consideration of RM149.3mil via the subscription of 119.1 million new shares, or 10% of Scomi shares, for RM39.3mil cash. Another 15% is via new Scomi redeemable convertible secured bonds for RM110mil in cash.

When asked whether Shah Hakim was planning to make his big comeback to the oil and gas sector, the spokesperson said Shah never left the sector.

"The oil and gas business has always been the group's mainstay with transport solutions as the future business growth driver. We will continue to harness our strengths and skill sets to grow the business in the areas of our core competency in the markets that we have strong presence globally," said the spokesperson.

Scomi is in the oil and gas industry. Through its subsidiaries and associates, Scomi is involved in transport solutions businesses such as rail infrastructure, and energy logistics businesses such as coal transportation and vessels services to the oil and gas industry.

Many analysts felt that Scomi would benefit from the marriage to IJM, but not the other way around. In fact, the initial reaction from the investing community was that it was more of a bailout for Scomi given that RM150mil out of Scomi's total outstanding bonds of over RM500mil were due by month-end. However, it is understood that this debt repayment is now deferred pending this deal.

"Post the restructuring and the merger of the oil and gas business with the marine services into Scomi Marine Bhd, the group's oil and gas business will be on a strong keel with a sustained earnings path.

"Over the past three years we have restructured our costs, enhanced our product lines and improved our deliverables to customers.

"We have exited from weak difficult markets with poor margins and refocused into high growth and higher margin markets in the eastern hemisphere. This has been evident in the results over the past few quarters."

"The coverage by the analyst and investment community had not been high and we are now seeing more interest over the last four quarters and expect this to improve.

"Going forward we believe they will have more interest and coverage, and therefore a better appreciation of the businesses that we are in," said the spokesperson from Scomi.

The spokesperson added that the Scomi-IJM tie-up was not a merger but a strong strategic fit and alliance between two complementary businesses with a shared vision and goals.

The spokesperson said Scomi had several key technologies that it owned and was also developing more applications for both these segments over the coming years.

"In oil and gas, it has the technology for the various drilling solutions and drilling waste management that makes it one of the leaders in that field. In the transport solutions, the monorail technology makes Scomi Engineering Bhd among the three global players in a growing market worldwide," said the Scomi spokesperson.

GO Comm buys major Cambodian PR agency

Posted: 28 Sep 2012 05:18 PM PDT

GO Communications Group has acquired Active Event Management, one of Cambodia's leading public relations and events agencies.

The buyout of Active follows the acquisition of Thai public relations (PR) agency DC Consultants in May, says GO Communications in a statement.

Active will continue to be led by managing director Sisopheak Siet.

The Phnom Penh-based agency has a staff of over 25 and 180 field work support staff with clients that include Beeline, Ford, Coca-Cola, LG, Colgate Palmolive, Manulife, Aeon Micro Finance, British American Tobacco, Dumex and Phnom Penh Security.

GO Communications chief executive officer Michael de Kretser says: "Part of our blueprint strategy is to have a solid network within the Mekong Delta, and it is now coming together very quickly.

"The group is also currently in serious negotiations to acquire PR agencies in Laos, Vietnam and Myanmar, seeing its fast growth and vast potential. The game plan is to complete the network by mid 2013."

GO Communications chairman Bob Chua says Cambodia has one of the fastest growing economies in Asean with gross domestic product growth averaging over 8% for the last three years.

"Cambodia has a population of over 15 million people, its tourism is growing with over three million visitors a year and foreign direct investment is rapidly increasing. China alone is planning to invest over US$8bil with 360 new projects over the next year".

The Cambodian acquisition is another step in the GO Communications' plans to create Asia's largest independent PR network.

Speaking about the group's plans, Chua says: "Communications has today become a critical component of every company's marketing plans, and our regional and vertical depth are increasingly well placed to cater to Asia's increasingly sophisticated communications demand.

"Both multinational and local companies in the region are beginning to understand that communications is a cost effective and potent tool to build brands, awareness, create promotional campaigns and most importantly, increase the bottom line."

Earlier this month, the Miss Universe Malaysia Organisation appointed GO Communications to handle all publicity and promotions for the Miss Universe Malaysia contest. The account was awarded to the PR agency without a pitch.

Marketers still in cautious mood

Posted: 28 Sep 2012 05:18 PM PDT

MARKETERS continued to remain cautious as ad spend in Malaysia, despite maintaining a growth trajectory, still fell below expectations.

According to data and information and measurement firm Nielsen, year-on-year advertising expenditure (adex) rose marginally by 0.8% to RM988.75mil in August.

This was lower than the 6.3% growth seen for July, which had benefited from the London Olympics.

For the entire January-August period, adex rose 2.3% to RM7.1bil (see table).

Starcom Mediavest Group Malaysia chief executive officer Ranga Somanathan says the August's 0.8% growth was below expectations and did not reflect Malaysia's consumer confidence level.

"August's adex was below expectations and my forecast was actually higher. The numbers did not align with Malaysia's consumer confidence level. This just shows that marketers are cautious," he tells StarBizWeek.

According to the latest data from Nielsen, consumer confidence in Malaysia rose to a six-year high while more than two-thirds of Malaysians were optimistic about their job prospects and personal finances.

Based on the Nielsen Global Consumer Confidence Survey, it says Malaysia's consumer confidence was up four points to 111 in the second quarter of 2012.

"Optimism towards local job prospects and personal finances continue to boost confidence," the survey says.

The index last hit its 111 level in the first quarter of 2006. Malaysia advanced to fifth place from seventh among the 56 countries surveyed in terms of confidence level, after Indonesia (120), India (119), the Philippines (116) and Saudi Arabia (115).

Citing the survey, Ranga notes that Malaysia's latest adex numbers "was not aligned" with the country's consumer levels.

"In terms of consumer confidence, Malaysia is among the top five in the world!"

IPG Mediabrands president (Asia World Markets) and chief executive officer (Malaysia) Prashant Kumar also agrees that Malaysia's latest adex figures came in below expectations.

"I actually expected it to be slightly better, especially in light of the recently concluded Olympics and Hari Raya holidays."

A media analyst also says that August adex was "a little bit disappointing."

"We expected a boost to adex, driven by activities done in conjunction with the Olympics.

"We believe it (less than stellar adex numbers) could be due to the cautious sentiment, in light of the uncertainty in the United States and shaky situation in Europe," she says.

Adex growth in August was led by cinema, which surged 177% year-on-year. Cinema ad spend jumped 121.4% year-on-year in July after posting a 29.6% contraction the month before.

Adex growth in August was also led by outdoor and pay television, which grew 19.1% and 11.5% respectively.

Newspapers still continued to command the lion's share of total ad spend, accounting for 39.6% of total adex in August and 40.3% in the January-August period.

For the eight-month period ended August 2012, the product/service categories with the highest ad spend were local Government institutions, mobile line services, women's facial care, fast-food outlets and universities.

Prashant is hopeful that ad spend will pick up in the final quarter of the year.

"I think everyone is expecting a booster, especially with the impending General Elections," he says.

Ranga is also hopeful that adex will improve. "Going forward, it is doubtful that adex will improve significantly, but I do hope it picks up."

A media analyst with a local bank-backed brokerage says he is optimistic about the adex outlook for the remaining of 2012.

"The Christmas period and New Year are periods that encourage consumer spending and this will spur ad spend.

"Consumer spending is also boosted during this period in light of their year-end bonuses," he says.

Kredit: www.thestar.com.my

Jumaat, 28 September 2012

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