Versus the CI

  • Business
  • Saturday, 01 Mar 2003

  • Plus: LISTED last year, the highway concessionaire hasn't created too many waves in the investment community. The company may attract more interest following the completion of its debt-restructuring scheme last December that would put it in a stronger financial position. 

    A 10% toll hike earlier in January last year and a 2.3% increase in traffic growth boosted its revenue by 36% to RM1.7bil in the financial year ended December 2002.  

    Beginning this year, PLUS is expected to declare a dividend payout ratio of 40% to 60% of its net profit, which represents a gross dividend yield of some 3% to 4.4%. 

  • Tien Wah: THE little traded KLSE second board printer saw active trade recently after British American Tobacco (M) Bhd (BAT) said it plans to dispose of its entire equity stake of 25% in the company to AMB Packaging Pte Ltd for RM33mil. Tien Wah's share price was boosted to a high of RM1.66 but has dipped since. 

    The company derives 75% of its revenue from the cigarette packaging products printing business and BAT is its major client. It was one of the top 20 KLSE second board performers last year in terms of percentage gain.  

  • PacificMas: THE banker turned insurer seems to be accelerating its insurance plans. It has entered into negotiations with Great Eastern Holdings Ltd on the possibility of merging their insurance businesses. 

    It has also begun talks with Koperasi Angkatan Tentera (KAT) to integrate the insurance business of its wholly owned unit, The Pacific Insurance Bhd, with KAT-owned Malaysia & Nippon Insurans Bhd. 

    PacificMas has also gone into venture capital, investing in a biotechnology firm Spring Hill Bioventures Sdn Bhd, together with its partners, Great Eastern Life Assurance (M) Bhd and Khazanah Nasional Bhd. 

  • Park May: THE bus operator is up for grabs, according to its parent Renong Bhd. The problem, however, is finding a buyer following the abortion of an earlier plan by Kumpulan Kenderaan Malaysia Bhd to take over the company. 

    The company and counter are languishing and the downgrade by Rating Agency Malaysia of its 2002/2007, RM120mil debt papers to non-investment grade quality puts it in a further dilemma. 

    At this stage, most expect a rescue – if any – is likely to be by the government. 

  • YTL e-Solutions: LISTED on the Mesdaq Market last July, shares of the IT company are holding around its offer price of RM1.10 per share. In its half year ended December, it saw the doubling of net profit to RM4.6mil and revenue to RM12mil.  

    The better performance was due to the higher demand for communications technology such as Voice Over Internet Protocol (VoIP) and telephony services. 

    The company was also active in acquiring IT firm, YTL Info Screen Sdn Bhd, a news, information and advertising content producer, which uses cutting-edge digital technology such as plasma and liquid crystal display screens. 

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