P Aruna

Recent and archived articles by P Aruna

18 May 2019 | 7:00 AM

Obstacles ahead for MAA’s privatisation plan

A stumbling block appears to have emerged on the path of MAA Group Bhd major shareholders who are hoping to take the company private through a proposed selective capital repayment (SCR) exercise.

11 May 2019 | 7:00 AM

Is Teo Seng undervalued at RM1.32?

AFTER posting an excellent set of quarterly results, and with its substantial shareholder Leong Hup International Bhd returning to the stock exchange for a highly-anticipated initial public offering (IPO) next week, Teo Seng Capital Bhd is in the limelight.

Egg-citing: Teo Seng has drawn investor-attention after recording a  stunning 234% increase in net profit during the first quarter ended March 31.
8 May 2019 | 7:00 AM

Greenfield project awards likely to be disappointing

PETALING JAYA: Mega greenfield project awards in the oil and gas (O&G) sector this year will be disappointing as local capital expenditure (capex) spending is expected to be largely focused on maintenance and brownfield works, said a research house.

Petroliam Nasional Bhd (Petronas) was expected to boost its overseas capex, it said.  “However, the general surge in capex for decommissioning and new greenfield projects will likely be from 2020,”  UOB KayHian Research said.
4 May 2019 | 7:00 AM

CBIP in for a splendid year

OVER the past month, the usually low-profile CB Industrial Product Holding Bhd has been in the news, having announced three back-to-back contract wins.

2 May 2019 | 7:00 AM

HeiTech Padu reorganises to get back on track

PETALING JAYA: After a tough financial year 2018 (FY18), HeiTech Padu Bhd is looking towards FY19 with renewed optimism.

“In light of constant changes and volatility in the social, economic and political climates, the group understands the need for a dedicated team to explore and discover new potential and possibilities,” Heitech Padu said in the report.
1 May 2019 | 7:00 AM

MUI to sell London hotel

PETALING JAYA: In line with its strategy to rationalise the business under its new leadership, Malayan United Industries Bhd (MUI) is looking to sell the Corus Hotel Hyde Park in London, United Kingdom.

MUI, which has been helmed by Andrew Khoo (pic), the son of Tan Sri Khoo Kay Peng since December last year, said the appointment of Rothschild was to assist CHL in exploring strategic options, as well as “to ensure that only credible international investors were shortlisted and considered”.
1 May 2019 | 7:00 AM

Destini announces new deputy CEO, COO

PETALING JAYA: Destini Bhd has announced the appointment of the former head of Export-Import Bank of Malaysia Bhd (EXIM Bank), Norzilah Mohammed, as its group deputy CEO.

“Their appointments will also see a stronger and wider management experience portfolio for the group to leverage on,” the group said in a statement yesterday.  Norzilah(pic) had helmed EXIM Bank as its former president and CEO from 2016 to 2019.
30 Apr 2019 | 7:00 AM

Far East buys oil palm estate from Harn Len

PETALING JAYA: Far East Holdings Bhd has entered into a RM182.99mil deal with another listed company – Harn Len Corp Bhd – to acquire an oil palm estate in Rompin, Pahang.

“The proposed acquisition demonstrates the board’s initiative in pursuing continued growth and sustainability of the business,” Far East said in a filing with Bursa Malaysia.
30 Apr 2019 | 7:00 AM

RHB Research: CIMB on track to meet targets

PETALING JAYA: The operations of CIMB Group remain stable, with the banking group on track to meet its financial year 2019 (FY19) financial targets, RHB Research said.

RHB research, which has maintained its “buy” call on CIMB, said it felt reassured of the group’s prospects after a recent meeting with the management.
27 Apr 2019 | 7:00 AM

Mammoth project, massive questions

ON the face of it, the massive Bandar Malaysia project, to be developed over prime land valued at over RM12bil, seems like the grand prize that any property developer would hope to win. However, the reality is that the developers of the project will have a long, winding path, fraught with challenges.