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Berjaya Sports Toto (BToto) will go ex-dividend and treasury share distribution (1:14) on 13 Jul 09. Dividend payment and share transfer will be made on 27 Jul 09. In addition, the new Power Toto 6/55 game, which replaces the existing Toto 6/42 Jackpot game, will be launched in Nov 09. All the necessary approvals have been obtained from the Ministry of Finance (MOF).Power …
WCT has secured four contracts worth RM766.5m, awarded by Iskandar Investment Berhad (subsidiary of Khazanah), to undertake infrastructure works in Medini, Iskandar Malaysia. The works com …
The seasonally weak first quarter results are likely to be lifted by the utilisation of three special draws during 1QFY10. We expect revenue and net earnings to rise 8-9% and 12-14% yoy respectively. Maintain BUY. Target price: RM4.90.Berjaya Sports Toto (BToto) will report its 1QFY10 results in the second week of Sep 09. We expect net earnings to grow 8-9% yoy but to come in …
As expected, BToto declared a hefty net interim DPS of 30 sen (for FY09 and FY10) plus distribution of treasury share for every 14 shares held. Future payouts may be less spectacular. FY09 results beat our expectation by 2.4%.BToto reported a net profit of RM107.2m in 4QFY09, +10.4% qoq, despite having six draws less than the preceding quarter. This was attributed to a lower …
Reversing the declining trend in the past five quarters, Bursa Malaysia’s (Bursa) 2Q09 net profit went up 22.3% yoy and 125.9% qoq to RM35m. Revenue from the equity market soared 145.8% qo …
Astro's 1H FY10 net profits were 47% of our FY10E forecast and 31% of street. 1H FY10 Pay TV revenues for Malaysia were up by 6% YoY, driven by higher subscription revenues (growing subscriber base but lower ARPU). Net adds were tracking in line with full-year guidance. ARPU was lower YoY due to lower yielding new subs, although a price hike for the sports package is expected …
The 14-fold rise in 2Q09 net profit is impressive considering this was achieved by cutting ticket prices by 19% to RM160 per pax and with no fuel hedging yield. This has paid off as EBIT …
BToto’s 1QFY01 revenue went flat yoy as revenue per draw unexpectedly declined 6.6% due to weak ticket sales. No dividend was declared for the current quarter. The annualised net earning i …
Stronger upcoming quarterly results but recent sales trend has softened. SP Setia’s 3QFY09 net profit could have increased 10-13% qoq and yoy due to an across-the-board higher sales in Kla …
Brazil's Vale lands Manjung deal. Vale International SA, the world's second largest diversified metals and mining company, has agreed to buy 409 acres in Lumut (Manjung), Perak from KYM Holding Berhad for RM101.9m. In its filing to Bursa, KYM has also granted Vale the right to purchase 756 acres of adjacent land for RM93.7m cash. According to StarBiz, the deal is believed to …
Overwhelming response for Southgate project since its launch in 1Q08. To date, three of the blocks within Southgate, namely Vox, Vivo and Vertex have achieved 90% sales. Adding the en-bloc …
Carlsberg Malaysia has entered into an MoU with parent, Carlsberg A/S, to acquire 100% of Carlsberg Singapore for RM370 mn. This related party transaction will be put up for minority share …
KLK, via its subsidiary PT. Steelindo Wahana Perkasa (SWP), has entered into agreements to acquire 95% of the issued and paid-up share capital of PT. Bumi Makmur Sejahtera Jaya (PT BMS) for a total cash consideration of Rp6.7b (or RM2.3m). Through 2 conditional agreements (the S&Ps), SWP will acquire a 94% equity stake in PT BMS from Tjong Hasan Agus …
A potential sale of 10% stake could temporarily re-rate Sime Darby, perhaps to RM10 assuming the 26x PE peak valuation fetched during Synergy Drive initiative. However, actual synergy and share-based dilution are our concerns. Maintain SELL.The Malaysian Insider reported that Sime Darby (Sime) was mulling a plan to offer up to 10% of its equity in new shares to an entity …
Share price dips on concerns of forex losses, which have already been factored in the consensus forecasts, provide buying opportunity. Strong core earnings in 2010. Maintain BUY and target …
Slight improvement in 2Q. 2Q09 results likely to grow marginally qoq, vs 1Q09 net profit of RM589.3m. 2Q09 results will be supported by better-thanexpected performance from Public Mutual (6%-7% of group PBT) on higher fee income generated from new unit trust sales and also higher management fees from record net asset value of RM29b in Jun 09. Meanwhile, net interest income …
Timely expansion in China combined with global demand recovery ensure an impressive CAGR of 90% for 2009-11. Catalysts are above-consensus earnings, IPO-worthy Unisem Chengdu and cheap val …
Greater opportunities in non-interest income, driven by: a) improvement in equity trading volume – a boost to brokerage income, b) removal of 30% bumiputera requirement in initial public o …
Public is targeting mid-teens loan growth over FY09, aiming to outpace the broader sector for the eighth year in a row and build on its current loan market share of 15% (FY01: 6.4%). The f …
We expect Sime Darby’s (Sime) 4QFY09 and FY09 results to meet our expectations. Any surprise would be on the downside, coming from potential provisioning/losses at its projects in Qatar.Lo …
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