The Star Online: Business

Blue chips slip in thin trade, PetDag, plantations weigh
MPHB advances on approval for demerger, repayment
RHB Research: Felda Global eyeing plantation land in Indonesia?

Blue chips slip in thin trade, PetDag, plantations weigh

Posted: 14 Feb 2013 06:18 PM PST

Published: Friday February 15, 2013 MYT 10:18:00 AM

KUALA LUMPUR: Blue chips fell in thin trade early Friday as investors took profit on index-linked stocks including Petronas Dagangan and plantations ahead of the weekend and uninspiring overnight close on Wall Street.

At 9.55am, the FBM KLCI was down 2.9 points to 1,627.99. Turnover was 132.47 million shares valued at RM141.37mil. There were 109 gainers, 148 losers and 179 counters unchanged.

Reuters reported Asian shares eased on Friday with investors turning cautious as weak euro zone growth data presaged the G20 meeting in this session and on Saturday in Moscow. The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%.

At Bursa Malaysia, consumer stocks were among the top losers, with Dutch Lady down 68 sen to RM42.10 and BAT lost 28 sen to RM57.92 but Nestle gained 14 sen to RM59.70.

Petronas Dagangan fell 28 sen to RM22.50 while HL Industries lost 38 sen to RM3.98 and UMW 12 sen to RM12.24.

Among the plantations, BLD Plantations fell 25 sen to RM8.10, KL Keponmg 24 sen to RM21.46 and Tradewinds Plantations 11 sen to RM4.43 but United Plantations rose 46 sen to RM26.46 with 100 shares done and PPB Group edged up six sen to RM12.08.

KHSB fell three sen to 65.5 sen with 25.62 million shares done on profit taking after it hit limit-up on Thursday on Kumpulan Darul Ehsan's plans to acquire a 56.57% stake for 76 sen each for RM193.46mil.

MPHB rose seven sen to RM3.38 after the Securities Commission conditionally approved its corporate exercise.

MPHB advances on approval for demerger, repayment

Posted: 14 Feb 2013 05:46 PM PST

Published: Friday February 15, 2013 MYT 9:47:00 AM

KUALA LUMPUR: Shares of Multi-Purpose Holdings Bhd (MPHB) advanced in early trade on Friday after the Securities Commission conditionally approved its corporate exercise.

At 9.26am, it was up 11 sen to RM3.42. There were 778,300 shares done.

The FBM KLCI fell 4.45 points to 1,626.44. Turnover was 66.59 million shares valued at RM65.75mil. There were 72 gainers, 116 losers and 121 counters unchanged.

The corporate exercise involved the proposed demerger of MPHB and its subsidiaries and a proposed capital repayment to MPHB shareholders.

MPHB said on Thursday the SC had approved its appeal to allow the valuation of the group's property assets to be included in the listing prospectus based on the independent valuers' assessments.

However, the conditions were the valuers had to update their valuations to a more current date which must not be more than six months from the date of the listing prospectus; and the corresponding valuers' reports were to be made available for inspection.

RHB Research: Felda Global eyeing plantation land in Indonesia?

Posted: 14 Feb 2013 05:22 PM PST

KUALA LUMPUR: RHB Research Institute says Felda Global Ventures (FGV) is close to securing some acquisitions, likely to be upstream plantation land in Indonesia.

"We believe FGV would prefer to buy a combination of greenfield and brownfield land, which would add to earnings immediately and generate positive cashflows," it said on Friday.

RHB Research said on the downstream front, FGV could be eyeing to expand via collaboration or strategic alliances with partners, and possibly exploring the setting up of downstream plants in China and India.

"Besides this, we believe FGV continues to identify non-core assets (held at FHB level) to divest, which could include its travel, IT, livestock and cocoa businesses, amongst others," it said.

Following its company visit, RHB Research said FGV's fresh fruit bunches (FFB) production was better than expected for FY12 and estimates were lowered for FY13.

The research house said FGV was also expecting better crude palm oil (CPO) prices in the second half of 2013.

It added that unit production costs were expected to be flattish in FY13. Meanwhile, FGV replanted more than original target in FY12.

As for the downstream refineries, they had started to turn around operationally in Q4, 2012.

"Upstream plantation acquisitions are most likely, while non-core asset divestment and downstream collaborations are being considered," it said.

Kredit: www.thestar.com.my

Khamis, 14 Februari 2013