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Suria Capital, SBC Corp in RM1.8b Sabah JV
CIMB advances in early trade, Dayang in focus
RHB Research downgrades Dayang Enterprise to Neutral

Suria Capital, SBC Corp in RM1.8b Sabah JV

Posted: 21 May 2013 06:40 PM PDT

Published: Wednesday May 22, 2013 MYT 9:40:00 AM

KUALA LUMPUR: Suria Capital Bhd and SBC Corporation Bhd have teamed up to undertake a mixed development project -- Jesselton Waterfront -- in Kota Kinabalu with net sale value (NSV) of RM1.8bil.

Trading in Suria Capital shares on Wednesday was suspended from 9am to 10am.

Suria Capital said the project would be built on its land in Jalan Tanjung Lipat,

"The Jesselton Waterfront Project shall carry a minimum NSV of the developed units of the Jesselton Waterfront Project of RM1.8bil, " it said, adding that 18% would go to Suria Capital and SBC 82%.

"Based on the minimum NSV of RM1.8bil, the Jesselton Waterfront project will carry a minimum guaranteed returns to Suria Capital of at least RM324.0mil," it said.

CIMB advances in early trade, Dayang in focus

Posted: 21 May 2013 06:19 PM PDT

KUALA LUMPUR: Shares of CIMB Group rose in early trade on Wednesday after the release of its first quarter earnings while Dayang Enterprise was in focus after its RM2bil contract win.

At 9.02am, the FBM KLCI was up 2.12 points to 1,789.50. Turnover was 97.56 million shares valued at RM43.82mil. There were 209 gainers, 56 losers and 136 counters unchanged.

Bloomberg reported Asian stocks rose, with the regional benchmark index trading at a five-year high, before the Bank of Japan concludes a two-day policy meeting.

Trading on Hong Kong equity markets will be delayed due to a storm warning.

BIMB Securities Research expects the local market to trend higher today given the positive sentiments from the west and from big-cap companies such as IOI and CIMB reported stronger quarter earnings.

"Immediate resistance is seen at 1,790 followed by 1,800 while support at 1,780 and 1,775," it said.

At Bursa Malaysia, CIMB rose 11 sen to RM8.61. Alliance Research has raised CIMB Group's target price to RM9.64 from RM8.66 as it rolls over its valuation for the banking group to FY2014.

Dayang was in focus, up 22 sen to RM5.11 while the call warrants, Dayang-CD rose 10 sen to Rm2.35 and Dayang-CE gained 7.5 sen to 82.5 sen.

Among the healthcare stocks, Pharmaniaga rose 20 sen to RM9.90 and Apex Healthcare 11 sen to RM4.48.

Plantations were mostly lower, except TH Plantations, which rose 10 sen to RM2.32. However, KL Kepong and United Plantations fell 14 sen each to RM21.60 and RM27.42 while TDM shed five sen to RM5.10 and Kulim three sen lower at RM3.60.

RHB Research downgrades Dayang Enterprise to Neutral

Posted: 21 May 2013 06:04 PM PDT

Published: Wednesday May 22, 2013 MYT 9:05:00 AM

KUALA LUMPUR: RHB Research has downgraded Dayang Enterprise, whose share price has rallied in recent weeks, to Neutral unless it secures a higher-than-expected contract value soon.

The research house said on Wednesday Dayang Enterprise secured a RM2.0bil contract from Sarawak Shell and Sabah Shell Petroleum Company to provide hook-up, commissioning and topside maintenance service.

RHB Research said the recent contract meant Dayang had secured about RM2.3bil worth of contracts year-to-date from the Pan-Malaysia hook-up and commissioning (HUC) tender.

"We make no change to our earnings forecast, as we have already imputed new RM2.5bil worth of contract wins for FY14," it said.

The research house noted there were contracts which had not been awarded in the Pan-Malaysia HUC tender and Dayang was understood to be eyeing another contract win.

"While we are encouraged with the positive news, we believe that there could be weakness in the shares in the short term but we advocate investors to accumulate the shares on weakness," it said.

Kredit: www.thestar.com.my

Selasa, 21 Mei 2013