Tuesday, June 7, 2016

金務大置地潛在發展額550億

金務大置地潛在發展額550億

    
(吉隆坡6日訊)金務大(GAMUDA,5398,主板建筑組)房產業發展臂膀金務大置地在未來兩年將陸續推介多項房產項目,並翼望藉此提昇營業額貢獻於金務大。
金務大置地首席營運員顏志明在661 Chapel Street房產媒體匯報會上表示,金務大置地目前貢獻金務大三分一營業額,並放眼未來可增加至40%。

顏志明說,金務大置地目前有潛在發展總值逾550億令吉的項目,可供發展15至20年。

今年杪推介萬撓70億房產
“公司將於今年杪,推介一項靠近萬撓的房產,發展總值逾70億令吉。”

他說,在接下來的2年裡,將會推介更多的房產項目。

他透露,在過去2至3年裡,該公司已投入24億至25億令吉在房產業務上。所推出的房產項目包括可負擔房屋及豪華房產。

顏志明認為,目前豪華房產依然擁有市場。
“部份中產階級者已經可以負擔起較昂貴的房屋,甚至有能力購買價格70萬至80萬令吉的房產。”

他說,該公司目前在越南、新加坡及澳洲皆有房產項目,當中越南市場貢獻顯著營業額。
“公司已經接近達成海外市場貢獻40%營業額的目標。”

他補充,亞洲經濟不斷在增長,因此,亞洲市場將是金務大置地主要進軍的目的地。

墨爾本辦房產銷售活動

金務大置地將於本月18及19日,舉行墨爾本的661 Chapel Street房產銷售活動。
金務大置地銷售經理馮慧瑩表示,該公司選擇在墨爾本建設房產,是因為當地房產市場相對較穩定。

顏志明則認為,澳洲地理位置要比歐洲及英國靠近大馬,而且,屬於適合投資房產的發達國家。

馮慧瑩說,公司的銷售目標是70%來自澳洲當地人,30%則是澳洲以外的投資者。
“目前,30%房產已出售於大馬投資者。”

該房產項目發展總值逾1億5千400萬澳元(約4億6千200萬令吉)。(星洲日報/財經)

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Monday, June 6, 2016

風險服務合約續獲利‧必達能源或轉淨現金公司


風險服務合約續獲利必達能源或轉淨現金公司

2016-06-03 19:36



(吉隆坡3日訊)必達能源(PENERGY,5133,主板貿服組)核心維修服務雖放緩,但分析員預期盈利可獲風險服務合約(RSC)支撐,有望今年轉為淨現金公司。

維修服務業務料仍放緩

興業研究表示,必達能源與澳洲Costal能源公司在西馬岸外KapalBanangMerantiKBM)油田聯營RSC,必達能源持有30%股權。該聯營項目也是大馬首個RSC計劃,預期2016財政年KBM油田每天的產量為1萬桶,相信該聯營項目可支撐必達能源2016財政年的淨利。

必達能源今年首季維修訂單低於前期,因此預料其維修服務業務仍放緩。

早前,必能能源攫獲Semarang重新發展2期計劃的合約,項目為工程、採購、施工和調試(EPCC),預期今年可開始對必達能源做出貢獻。

此外,興業也表示,今年首季,該公司負債比從0.23倍降低至0.14倍,相信今年可轉身為淨現金公司,並預期必達能源憑藉大筆現金,將物色盈利甚佳的業務,如生產共享合約 (PSC)。

該公司管理層在早前的股東大會上表示,公司有意多元化至再生能源業務。

興業提醒,油價的波動將會影響該公司的淨利。

綜合上述看法,興業預期RSC項目可支撐該公司盈利,因此維持該公司買進評級不變,但目標價則從1令吉63仙微降至1令吉57仙,相等於2016財政年的本益比為11.9倍。( 星洲日報/財經‧報道:謝汪潮
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Tuesday, May 24, 2016

Why I reported my shareholdings Late







Why I reported my shareholdings LaBy

Key officials delayed their announcements on dealings in securities

Key officials of other companies have also delayed their announcements on dealings in securities
HIGH profile investor Koon Yew Yin has been creating headlines for all the wrong reasons recently.
The 83-year-old, who has amassed a huge following among the investing fraternity, is in the hot seat for his late disclosures of the disposal of his shares in a number of companies namely V.S. Industry Bhd, Latitude Tree Bhd and most recently plywood firm Focus Lumber Bhd.
To be fair, Koon who is the founder of construction groups IJM Corp Bhd, Gamuda Bhd, and Mudajaya Group Bhd, is not the only one.
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While the rules state that substantial shareholders must notify a company within seven days of the date of change in his or her shareholdings, there have been cases in which this has not happened.
Koon and his trades aside, one case in point is Chinese edible oil company XingHe Holdings Bhd.
Recent filings to Bursa Malaysia show that disclosures by the company’s controlling shareholders and directors were made way after the stipulated seven-day requirement.
Last month, XingHe said its director Ng Min Lin had disposed a total of 21.4 million warrants on April 1, 2015, but notice on this was given to the company on Apr 29 this year - a year after the selling was done.
The stock had shed over 30% over the one-year period.
Another two directors of the company, Ma Guoliang and Li Hui Jun, also traded in the firm’s warrants between the period of April 1, 2015 to June 8 2015, but only gave notice of the trades recently.
It remains to be seen what action will be taken.
It is understood that the Companies Commission of Malaysia (CCM) is the authority on this, given that the obligation of a substantial shareholder to notify the company of the changes in his shareholdings within seven days is set out under sections 69E, 69F and 69G of the Companies Act, 1965.
In terms of the rules, once a substantial shareholder informs the company of his shareholding changes, the company must make an immediate announcement to Bursa Malaysia pursuant to paragraph 9.19 (17) of the Listing Requirements.
If there is no compliance, the onus is on the CCM to take rightful action.
In 2011, Datuk Low Tuck Choy, a substantial shareholder of Ho Hup Construction Bhd was charged with failing to notify changes in his interest in the company within seven days as required under the Com­panies Act 1965.
Notably, the Securities Commission also monitors changes regarding interest in securities held by directors and CEOs of public listed companies.
Besides XingHe, a random search on Bursa Malaysia’s website also revealed another example of a company where its substantial shareholder did not comply with the disclosure ruling, namely timber and wood-based product company Priceworth International Bhd.
According to its most recent filings to Bursa Malaysia, it appears that its substantial shareholder, Lim Nyuk Foh, had missed announcing his latest acquisition within the necessary disclosure period, announcing the purchase of 4.5 million shares made last December, only earlier this month.
Lim, who had prior to this made announcements of his buying and selling of shares in the firm accordingly is the managing director and founder of Priceworth.
In April 2015, he emerged as a substantial shareholder in property company Bertam Alliance Bhd after he bought an estimated 12 million shares from the open market.
He has since become managing director at Bertam.
Coincidentally, filings to Bursa Malaysia show that Lim also missed announcing his latest purchase of shares in Bertam within the required time frame.
On Jan 7, he acquired 3 million shares in the firm but only disclosed the buying on March 15.
In Koon’s case, V.S. Industry had on May 4 announced to Bursa that he had ceased to be a substantial shareholder in the firm after having sold some 44.08 million shares between March 18 and April 11.
Prior to that announcement which was made only several weeks later after the stake sale, Koon was the third-largest shareholder of the electronics manufacturing services provider with an 8.8% interest.
As for furniture manufacturer Latitude Tree, Koon started accumulating its shares starting in October 2014 and finally emerged as a major shareholder with a 5.01% stake.
He ceased to be a substantial shareholder in the firm at end-November 2015 but only gave notice of his disposals two months later.
Finally, on Wednesday, Bursa filings showed that Koon had bought a 6.71% stake or some 6.93 million shares in Focus Lumber on April 11 with the company saying that it only received notification from Koon on May 9 regarding the purchase.
The Focus Lumber stock is up about 13% since the announcement of Koon’s emergence in the firm.
Shorter disclosure time frame
Areca Capital fund manager and CEO Danny Wong notes that timely disclosure is very important to ensure fairness and transparency across the market.
“It improves market efficiency for timely decisions and an inefficient market will discourage investors as it will only benefit insiders,” he says.
Wong also suggests that there should be a more robust system for disclosure here.
“It should be automated.”
Another observer who is well-versed with the local capital market concurs.
“In order to protect minority shareholders, substantial shareholders who are often the controlling shareholders should make the disclosure within 24 hours as opposed to the current seven market days so at least the minorities are aware that they (the substantial shareholders) have sold in the case of a disposal,” he says.
He points out that after seven days, a stock may have already lost a lot of value without the minorities being aware of what had actually happened.
In neighbouring Singapore for instance, the disclosure period requirement is much shorter, that is within two business days.
Fortress Capital Asset Management CEO Thomas Yong shares the same view as the rest.

“Trade actions of company insiders or even substantial shareholders are generally considered as material price sensitive information and as such require timely disclosures in the interests of protecting other minority shareholders and smaller-scale investors.”