Rabu, 19 Mac 2014

The Star Online: Business

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The Star Online: Business

ASNB declares 6.6 sen dividend for ASM investors

Posted: 19 Mar 2014 09:00 AM PDT

KUALA LUMPUR: Amanah Saham Nasional Bhd (ASNB), a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), has announced a 6.6 sen dividend for a unit of Amanah Saham Malaysia (ASM) for the financial year ending March 31.

Last year, it declared 6.5 sen normal dividend and 0.3 sen special dividend per unit.

PNB chairman Tun Ahmad Sarji Abdul Hamid said the income distribution entailed RM947.1mil total payout, up from RM913.85mil last year.

The payment would benefit 530,000 unitholders, who currently held 14.34 billion ASM units, he told a press conference.

President and chief executive officer Tan Sri Hamad Kama Piah Che Othman said the income distribution could have been as high as 8.8 sen per unit, but the group decided to carry forward the remaining 2.2 sen per unit to the next financial year.

Until March 17, ASM had recorded a gross income of RM1.16bil, while profit from the sale of shares contributed 46.8% of the gross income.

Dividend income from investment in companies contributed 37.4%, with the remaining 15.8% coming from investments in short-term instruments.

The income distribution will be reinvested in additional units and be automatically credited into unitholders' accounts on April 1 to enable them to benefit on the return from the growth of the ASM fund units.

ASM transactions at all branches and agents nationwide will be suspended on March 23-31 to facilitate the calculation of income distribution, and unitholders can update their investment books beginning April 1.

On the progress of PNB's Menara Warisan Merdeka that is estimated to be valued at RM5bil, Hamad Kama Piah said piling works were ongoing and that the structure would be completed by end-2018. — Bernama

KLCI falls, Petronas stocks, TM and Sime slip

Posted: 19 Mar 2014 06:15 PM PDT

KUALA LUMPUR: The FBM KLCI came under some selling pressure early Thursday after the overnight fall on Wall Street as sentiment was cautious following as the US Federal Reserve's rate hike comment.

At 9am, the KLCI was down 3.3 points to 1,814.14. Turnover was 36.08 million shares valued at RM13.57mil. There were 105 gainers, 66 losers and 128 counters unchanged.

Hwang DBS Vickers Research said Malaysian equities could face renewed selling pressure.

"On the chart, the benchmark KLCI could pull back towards the psychological support mark of 1,800" it said.

Overnight on Wall Street, major indices fell between 0.6% and 0.7% following the US Federal Open Market Committee meeting outcome.

HDBSVR said the policymakers decided to make a further measured reduction in the pace of its asset purchases by an additional US$10bil per month beginning April.

"Still, a shift in investors' expectations of faster-than-anticipated interest rate hikes in 2015 and 2016 then spooked sentiment," it said.

Petronas Dagangan fell 22 sen to RM29.82 and Petronas Chemicals 10 sen to RM6.62 while Petronas Gas was down eight sen to RM23.

Among plantations, KLKepong fell 18 sen to RM23.54 and Sime Darby six sen to RM9.14. AmBank was the top loser among the bank stocks, falling five sen to RM7.07.

TM lost 10 sen to RM5.80.

Genting Plantations jumped 40 sen to RM11.10  while United Plantations added 26 sen to RM25.26 and SOP 23 sen to RM6.55 while PPB Group gained 18 sen to RM16.48. Trading volume was very thin with 100 shares done for these counters.

Kimlun-WA, which was listed on Wednesday, added 28.5 sen to 59 sen.

EcoWorld rose10 sen to RM4.79 as investors were positive on its purchase of 308.7 acres of land in South Klang for RM470.7mil from Tropicana Corp.

Recovery of S. Sudan oil output to take time; Petronas among producers

Posted: 19 Mar 2014 05:33 PM PDT

JUBA: South Sudan's oil production is steady at about 160,000 barrels per day and will take time to recover to previous levels, an oil ministry official said, after oil facilities in Unity state were burned in fighting between political factions.

Oil firms in South Sudan, a country roughly the size of France, include China National Petroleum Corp, India's ONGC Videsh and Malaysia's Petronas .

Production on Monday was 162,000 bpd from fields in Upper Nile state, said the oil ministry official who asked not to be identified. That level, little changed from the start of the year, is down about a third from the 245,000 bpd recorded before the conflict flared up in mid-December.

Oil facilities in Unity state have been shut since supporters of President Salva Kiir fought defectors who backed his sacked deputy, Riek Machar.

"They set the facility ablaze. It will take long to restart," the official said.

Oil companies evacuated Unity state after some local oil workers were killed in the fighting as the defectors captured the capital Bentiu. Government forces have since recaptured the town.

The firms have yet to resume operations, however, while the government strives to ensure security and to assess the damage, according to a senior official at a foreign oil company.

"Right now the efforts to restart Unity production are going on, but until now the report (on the extent of the damage) is not finished. The paperwork to resume until now is not finished; there is no change there in security," the senior official said.

"They (the government) don't control all the oil fields there, so we hope this can change. But now it remains just a hope because with technical people, without security nobody will go there."

Sporadic battles have been fought since a ceasefire deal was reached on Jan. 23, with some of the fiercest fighting in Malakal, the capital of Upper Nile state. But production from the Upper Nile fields has held steady.

Upper Nile fields produce Dar blend crude, which is a heavy and sour blend. The lighter and sweeter Nile blend produced from the Unity fields tends to sell at a premium to Dar.

The two blends usually go to Chinese and Indian refiners, which can process a variety of crudes. Some Nile blend is also shipped to Japan where it is burned by utilities.

Any variation in production of South Sudan's crudes can impact the price of some other grades such as Indonesian, Angolan and some Australian crudes.

Oil firms in South Sudan, a country roughly the size of France, include China National Petroleum Corp, India's ONGC Videsh and Malaysia's Petronas .

All of South Sudan's exports run via a pipeline through Sudan to the Red Sea. South Sudan split from Sudan in 2011, and the two nations have often argued since then over oil transit fees, border security and other issues. - Reuters

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