The Star Online: Business
The Star Online: Business |
- Malaysian NGV, Jeffa Holdings to fund RM6b regasification plant
- RHB Research lowers VS Industry fair value to RM1.56
- China factory profit growth quickens in November
| Malaysian NGV, Jeffa Holdings to fund RM6b regasification plant Posted: 27 Dec 2012 06:21 PM PST Published: Friday December 28, 2012 MYT 10:22:00 AMKUALA LUMPUR: Natural gas provider, Malaysian NGV Sdn Bhd, and its investor, Jeffa Holdings Sdn Bhd, will fund a mega green infrastructure distribution channel called 1Gas Clean Energy For All. The project would see a total investment of RM6bil, of which, RM3.6bil will be used to fund a regasification plant and storage plant in Tanjung Langsat in Pasir Gudang, Johor. The remaining RM2.4 billion will be set aside for phase one of the construction of a network of 1GasStation outlets. Malaysian NGV president and chief executive officer Rahmat Ahmad said the regasification plant project in Tanjung Langsat would have a capacity of three million tonnes per annum to support the initial 200 1GasStation outlets nationwide as well as other industrial off-takers. - Bernama |
| RHB Research lowers VS Industry fair value to RM1.56 Posted: 27 Dec 2012 06:06 PM PST Published: Friday December 28, 2012 MYT 10:07:00 AMKUALA LUMPUR: RHB Research Institute is maintaining its Market Perform call on VS Industry but lowered the fair value to RM1.56 from RM1.65. It said on Friday the lower fair value was based on a target price-to-earnings ratio (PER) of 9.0 times (previously 8.0 times) on its CY13 earnings. "While we believe VSI will face margin compression and increased competition, its relatively attractive dividend yield should provide support to its share price," it said. RHB Research said the company's net profit of RM7.70mil for the first quarter ended Oct 30, 2012 (down 33.9% on-year or down 20.3% on-year on continuing operations basis) accounted for only 21.0% of its full-year estimate. "Net profit for the quarter was below our expectations mainly due to weaker-than-expected gross margin of 10.4% (1QFY12: 12.8%, 4QFY12: 11.8%); and higher losses of RM2.9mil (1QFY12: losses of RM2.1mil) from its China-based associates," it said. |
| China factory profit growth quickens in November Posted: 27 Dec 2012 05:37 PM PST BEIJING: Annual growth of China's industrial profits quickened to 22.8% in November from October's 20.5%, official data showed, reinforcing signs of a steady economic recovery thanks to pro-growth policies. Chinese industrial firms made 638.5 billion yuan (US$102.4bil), China's National Bureau of Statistics (NBS) said in a statement published on its website. A second month of strong double-digit profit growth reinforces the view of analysts that China's economy has gathered momentum in the fourth quarter. Factory profits rose only 7.8% in September from a year earlier. Industrial profits in the first 11 months of 2012 totalled 4.66 trillion yuan, up 3% from a year earlier, the bureau said. For the January-October period, profits had been up only 0.5% from a year earlier. Among 41 sectors surveyed by the bureau, 30 reported rising profits in the first 11 months, led by a 62.9% jump for power generation firms, a 16.6% rise for food processing firms and 11.5% for telecommunications equipment makers. But some sectors are still struggling, with profits of ferrous metal smelting firms tumbling 47.9% while earnings of chemical companies falling 10.1%. In the first 11 months of this year, losses among oil processing, coking and nuclear fuel processing firms were more than four times larger than what they lost a year earlier. China's economy is strengthening in the fourth quarter, following seven straight quarters of slower growth, thanks to new pro-growth policies rolled out by the government in recent months, including approvals for US$157bil worth of infrastructure projects. According to a Reuters poll, China is on course to achieve growth of 7.7% in 2012, the slowest full year of expansion since 1999. Chinese leaders have promised to maintain a "prudent" monetary policy and proactive fiscal policy next year, leaving room for manoeuvre in the face of global economic risks while deepening reforms to support long-term growth. - Reuters |
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