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RHB Research said it was positive on Press Metal Bhd’s plan to double its Samalaju, Sarawak, plant’s capacity, which would lift the company’s total smelting capacity to 760,000 tonnes per annum (tpa) that was about 1.5% of global primary aluminium consumption.
PETALING JAYA: The slowdown in deposit growth to almost a three-year low is expected to put further pressure on banks’ net interest margins (NIM) which have been compressed in the last few years. The lower margins have to an extent impacted earnings due to the low interest rate environment.
Puncak Niaga Holdings Bhd has formalised a sale and purchase agreement (SPA) for the divestment of its two water concessions for the cash offer of RM1.6bil by the Selangor government. “The group has set aside RM534mil from the total proceeds to be distributed to shareholders as special dividends,” CIMB Research said.
The slowing deposit growth in the country to an almost three-year low is reflective of the environment of rising costs that has been building up.
Ta Ann Holdings Bhd’s log production for first eight months of 2014 surged 28.1% year-on-year (y-o-y) to 338,061 cu m, according to Affin Hwang Capital. It said the improvement was partly attributed to better weather conditions, which have helped to increase the log supply.
KUALA LUMPUR: Affin Hwang Capital Research has downgraded the brewery sector to Underweight from Neutral, with a Reduce call on both Guinness and Carlsberg, saying the ongoing subsidy rationalisation measures by the Government are continuing to dampen consumer sentiment.
COASTAL Contracts Bhd announced that it had secured contracts for the sale of seven offshore support vessels (OSVs) for an aggregate value of RM444mil. This takes its order book to a record RM2.6bil. Of this, the OSVs amount to RM1.4bil while the remainder RM1.2bil is for a gas compression unit to be chartered to Mexico’s Pemex starting mid-2015 for eight years.
PETALING JAYA: The reversal of an earlier cigarette price hike by tobacco companies British American Tobacco (M) Bhd (BAT) and JT International Bhd (JTI) surprised the market, but did not do much to reverse the bearish view analysts have on BAT.