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Bursa highlights on May 25
* Sime Darby Property Singapore Ltd, an indirect unit of Sime Darby Bhd, has sold two property investment firms, whose assets are Sime Darby Centre (commercial and retail building) and Sime Darby Enterprise Centre (light industrial building), to Aster Investment Holding Pte Ltd for S$206.3mil (about RM612mil) in cash, subject to certain additional purchase price adjustment. In February, Sime Darby president and group CEO Tan Sri Mohd Bakke Salleh had said that it planned to raise RM1.8bil by selling or leasing back its assets in Singapore and Australia.
Meanwhile, Sime Darby Bhd’s earnings jumped 60% to RM663.5mil in the third quarter ended March 31, 2016, boosted by its asset monetisation exercise. Read more
* Telekom Malaysia Bhd earnings for its first quarter surged 150% to RM322.43mil versus RM128.91mil a year ago as Internet services contributed higher revenue and TM managed costs better. Read more
* Boustead Holdings Bhd slipped into a loss attributable to shareholders of RM21.5mil for the first quarter ended March 31, 2016. The conglomerate’s heavy industries division made a loss of RM73mil versus a pre-tax profit of RM3.6mil a year earlier mainly due to downward revision of margin for the littoral combat ship project and increase in operating costs. Read more
* Barakah Offshore Petroleum Bhd’s unit, PBJV Group Sdn Bhd, in consortium with Macfeam Sdn Bhd, has received a letter of award from PRPC Utilities and Facilities Sdn Bhd for a contract worth RM84.1mil. Read more
* Rubber and baby product maker O & C Resources Bhd (formerly Takaso Resources Bhd), replying to Bursa Securities’ unusual market activity query, says it is unaware of any corporate development not announced previously, or any rumour or report, that may have contributed to the rise in its share price. Over the last two weeks, its share price has climbed nearly 35%. On Wednesday, the counter closed 9.5 sen up at 69 sen, with 27.7 million shares traded for the day. At an EGM on May 16, the company’s shareholders approved its proposal to diversify into property development. Read more
* Axiata Group Bhd saw 37% lower earnings at RM368.3mil for the first quarter ended March 31, 2016, on the back of stiff competition for Celcom in the postpaid and overseas foreign workers segments. Its performance was also impacted by higher depreciation and amortisation charges, higher net finance.
* RHB Capital Bhd reported a 15.9% increase in its earnings to RM552.02mil in the first quarter ended March 31, 2016, boosted by net interest income growth and cost improvement efforts.
* CIMB Group Holdings Bhd has issued RM1bil in nominal value Basel III-compliant additional Tier 1 capital securities. The proceeds were used to subscribe for RM1bil Basel III-compliant additional Tier 1 capital securities issued by its 99.99% owned subsidiary, CIMB Bank Bhd.
* I-Bhd saw its earnings rise by 50% to RM15.36mil in its first quarter ended March 31, 2016, boosted by further sales in its property development segment. Read more
* Cliq Energy Bhd received on Tuesday a notice of application for stay of proceedings from the lawyers of its major shareholder and promoter Best Oracle Sdn Bhd which seeks to halt winding-up proceedings pending hearing and disposal of Best Oracle shareholders’ appeal to the Court of Appeal.
* Brahim’s Holdings Bhd expects further diversification into non-airline catering businesses will help it return to the black this year, its executive chairman Datuk Seri Ibrahim Ahmad Badawi told reporters after the company’s AGM. Read more
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