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The Star Online: Business

Sime, Petronas Chemicals weigh on KLCI
Up to EPF to decide RHBCap privatisation, says group MD
The retail space of Suiwah’s RM50mil Sunshine Bertam mall is fully-booked

Posted: 18 Apr 2013 06:16 PM PDT

Published: Friday April 19, 2013 MYT 9:16:00 AM

KUALA LUMPUR: Malaysia's blue chips fell in early trade on Friday on mild profit taking of index-linked stocks including Sime Darby and Petronas Chemicals.

At 9.03am, the FBM KLCI was down 0.43 of a point to 1,705.83. Turnover was 16.92 million shares valued at RM11.63mil. There were 56 gainers, 43 losers and 80 counters unchanged.

Worries over global growth capped Asian share prices on Friday as more soft U.S. economic data and mixed U.S. earnings results further undermined investor sentiment already hit by a broad sell-off that started earlier in the week, Reuters reported.

At Bursa Malaysia, PetChem fell seven sen to RM6.39 while among plantations, Sime Darby lost five sen to RM9.40 while KL Kepong was down 16 sen to RM21.50 and PPB Group eight sen to RM12.52.

Among consumer stocks, BAT fell 40 sen to RM62.10 and Nestle 20 sen to RM61.50 in thin trade.

The world's biggest glove maker, Top Glove saw its share price slip eight sen to RM6.40 after the recent price surge on the China bird flu outbreak.

On a more positive note, MAHB gained 19 sen to RM5.94 while among the banks, HL Bank rose six sen to RM14.50 and AmBank four sen to RM6.53.

Up to EPF to decide RHBCap privatisation, says group MD

Posted: 18 Apr 2013 06:12 PM PDT

KUALA LUMPUR: There is no plan at the moment to privatise RHB Capital Bhd (RHBCap), its top official said.

"At the present time, there is no plan. We have not proposed any privatisation.

"However, to be fair, this would need to come from the major shareholder," RHBCap group managing director Kellee Kam said.

The major shareholder of the banking group is Employees Provident Fund (EPF), which holds a 41% stake.

Kam's comments were prompted by a business weekly report which said that a potential privatisation of RHBCap could be on the cards as part of a restructuring exercise.

"As an ongoing process, we are always looking at proposals of various nature that can bring value to our shareholders. It is hard to pin down any plan. If a privatisation does happen, it won't be from RHBCap," he added.

Kam, who was speaking to the media in conjunction with the completion of RHB Investment Bank Bhd-OSK Investment Bank Bhd merger, also said that candidates for the post of chief executive officer at the newly merged entity had been shortlisted.

However, he did not reveal names.

StarBiz has recently reported that the search for a new head was gaining traction, with names such as Credit Suisse head of Malaysian equities Stephen Hagger, OSK group founder Tan Sri Ong Leong Huat and his son Ong Ju Yan being rumoured as likely candidates.

Industry sources said a new CEO at RHB Investment was necessary not only as a result of the recently completed merger but also because current RHB Investment officer-in-charge Mike Chan might not want to remain as head honcho of the newly merged entity.

It could also be that Chan's position was only temporary before a suitable CEO was found.

Following the merger, RHB Investment is now the largest investment bank in Malaysia by assets and one of the biggest in Asean with a combined staff strength of about 3,600 and a network of 98 offices across seven countries.

Is it also one of the top three brokerages in Malaysia with about 1,400 brokers and 60 branches. All OSK branches in Malaysia have been rebranded to RHB-OSK while its subsidiaries overseas will undergo a similar branding exercise.

As a result of the merger, Chan said RHB Investment's deal pipeline was very strong.

"Yes, our pipeline is very strong and over the next few months you will see some transactions coming to the market," he said.

The retail space of Suiwah’s RM50mil Sunshine Bertam mall is fully-booked

Posted: 18 Apr 2013 06:03 PM PDT

GEORGE TOWN: Suiwah Corp Bhd's new RM50mil shopping mall in Bertam, Kepala Batas, is expected to open in June.

Group executive director Cynthia Hwang said the tenant-control mixed shopping mall, Sunshine Bertam, located on 2.43ha, would have some 200,000sq ft of lettable area.

"The hypermarket, called Sunshine Bertam, would occupy approximately 50,000 sq ft.

"The remaining floor space would be leased out to shops. The retail space is fully-booked," she added.

Hwang was speaking at a press conference attended by Suiwah directors Datuk Ahmad Osman and Datuk Radzali Hassan, Sunshine Amanjaya's Datuk Rafique Abdul Karim, and Bertam Properties Sdn Bhd's Datuk Roslan Ibrahim.

Hwang said there would be four cineplexes and some 500 carpark bays.

"The size of each retail lot ranges between 200 sq ft and 1,000 sq ft.

"There will be goldsmith, florist, telecommunications, and food and beverage outlets.

"There would also be a karaoke and reflexology centre," she added.

Bertam town has a population of around 100,000 people, upon which the shopping mall could depend for support.

Roslan, meanwhile, said that Sunshine Bertam was in the Bertam Perdana township. "The township is now in the third phase of development, located on a 6.47ha site, which is 60% completed.

"We have sold most of the 70 units of shop-offices in the third phase.

"The third phase should be completed in September 2013," he said.

Roslan said Bertam Properties still had 32.37ha to 36.42ha in Bertam for commercial development, where the plan was to develop some RM200mil worth of commercial properties over a period of eight to 10 years.

"As for residential properties, we still have 202.34ha in Bertam.

"The plan is to develop some RM300mil worth of residential properties over the next eight to 10 years," he said.

Listed in 1995, the group owns Sunshine Square, a pioneer department store and supermarket in Bayan Baru, Sunshine Farlim Shopping Mall, and Sunshine Lip Sin, a supermarket in Gelugor.

It also owns a chain of convenience stores in multi-national companies such as Kobe, Agilent, Lumileds and ASE.

The group has also diversified into manufacturing, property development and international trading.

Kredit: www.thestar.com.my

Khamis, 18 April 2013