8th March 2013 - Friday

TA ups Perisai’s TP on higher earnings forecasts
Business & Markets 2013
Written by Charlotte Chong of the edgedaily.com
Friday, 08 March 2013 12:01


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KUALA LUMPUR (MAR 8): TA Securities has maintained its ‘buy’ rating on PERISAI PETROLEUM TEKNOLOGI [] Bhd at RM1.07 with a higher target price of RM1.45 (from RM1.39) following its increase earnings forecasts for Perisai.

In a note Friday, TA Securities estimated Perisai’s earnings to be approximately RM19.6 million/RM38.1 million/RM38.8 million in FY13-15 based on management’s guidance and contracted daily chartered rate of US$248,500.

“The net impact is an upwards revision of 2%/32%/91% to our FY13/14/15 earnings estimates,” said the research house.

Despite that Perisai has two contracts expiring in the near term, Perisai has previously said it was fairly confident that Enterprise 3’s (E3) contract would be renewed by TL Offshore on the back of the latter’s strong orderbook.

Meanwhile, Perisai has completed the transfer of its entire fleet of vessels to Labuan-based entities in financial year 2012, therefore, its tax rate would be lower in financial year 2013.

TA Securities anticipates that Perisai will be able to leverage up comfortably to finance Perisai Pacific 101 (PP101) upon its delivery in July 2014, expecting PP101 to derive 30% profit after tax margin from its future drilling contract.

“The company’s profits will not be impacted by asset impairments as was the case in 4Q12 whereby the group recognised impairments totaling RM25 million,” said TA Securities.

Perisai intends to maintain its growth trajectory by adding at lease one new asset to its fleet every year via acquisitions of existing assets or placement of new orders.

Moving forward, it aims to focus on acquiring technically-niche production and drilling assets, instead of generic assets such as offshore service vessel.

Perisai has reported a profit after tax of RM44.4 million for its fourth quarter ended Dec 31, 2012, signifying a growth of more than 250% from the same quarter in 2011.

At 11:37am, Perisai was traded at RM1.06, down 0.9% or 1 sen with 1.2 million shares done.

masih mencari-cari for daytrade only....

hurm glomac suddenly

Cals wrote:hurm glomac suddenly

bursa missed ..hurmmmmm

Anyone using the damn itradecimb?

The old hall is lousy enough
This new trading hall is even lousier.

How to get back the old one -.-

sori...i tak pakai itrade....

aiyaakkk ....miss wct-wb

mahsing vrooom..... Cals

vroom vroom ?

drb vroom!

JF wrote:drb vroom!

congrats holder !

Cals wrote:

JF wrote:drb vroom!

congrats holder !

congrats...

Hot Stocks FACB, Karambunai, Petaling Tin gain ahead of EGM
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Friday, 08 March 2013 13:34


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KUALA LUMPUR (Mar 8): Companies linked to tycoon Tan Sri Dr Chen Lip Keong rose among top gainers and most-active entities till noon. This gains came ahead of an extraordinary general meeting (EGM) where one of his firms will solicit shareholder approval for the sale of crucial assets.

The gains in FACB Industries Inc Bhd, KARAMBUNAI CORP BHD [] and PETALING TIN BHD [] could also be due to the perceived undervaluation of these stocks against their respective book values (BV).

FACB told the exchange yesterday that the company will seek its shareholders' approval on March 25 this year for the disposal of its industrial property and steel products manufacturing arm for a combined RM131.5 million.

At 12.30pm, FACB settled at RM1.20 at lunch break with some 1.7 million shares done. The sixth-largest gainer across the exchange had risen as much as 23 sen or 22% to RM1.28 earlier. Its latest reported BV per share stood at RM1.86.

The firm has proposed to sell its leasehold industrial property in Shah Alam, Selangor for RM97 million to private firm Absolute Deal Sdn Bhd. The price for the tract and factories is more than double the assets’ book value of RM35.47 million, according to FACB’s annual report.

FACB also plans to dispose of its 100% stake in steel products manufacturing arm Kanzen Tetsu Sdn Bhd to Kentzu Steel for RM34.5 million. The steel division had posted losses for the past two financial years.

If these disposals materialise, the combined proceeds will be reflected as extraordinary gains in FACB books. This could help the company register profits in the current financial year ending June 30, 2013 against net losses of RM15.48 million a year earlier.

The proceeds will also increase the debt-free company's latest reported cash pile of some RM30 million.

Dr Chen who owns 20% in FACB, has a 44% stake in Karambunai and a 27% equity portion in Petaling Tin.

FACB manufacturers steel and bedding products while Karambunai and Petaling Tin are property developers and hospitality industry players.

Investors had also chased shares of Karambunai and Petaling Tin which are also loss-making.

At 12.30pm, Karambunai was traded at 11 sen with some 2.4 million shares done. The stock had earlier gained as much as one sen or 10% to 11.5 sen. It latest reported BV per share came to 29 sen.

Petaling Tin which was the sixth most-active stock had settled at 29.5 sen with about 10 million shares changing hands. The stock had earlier climbed six sen or 23% to 32 sen. This compares to a BV per share of RM1.07

HwangDBS: KLAS will contribute to DRB's future growth
Business & Markets 2013
Written by Bernama
Friday, 08 March 2013 12:51


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KUALA LUMPUR (March 8): DRB-HICOM BHD []'s (DRB)future growth is expected to come from Kuala Lumpur Airport Services (KLAS), which is a wholly-owned subsidiary of HICOM Holdings and in turn DRB, says HwangDBS Vickers Research.

KLAS' main scope of business includes ground handling, integrated logistics services (ILS), cargo handling, facilities and equipment maintenance, in-flight catering, aircraft maintenance and engineering.

"While the contribution to DRB's group revenue and pre-tax profit is not significant at two per cent for financial year 2012, we came away feeling there was vast potential for this business.

"This is especially with the impending opening of KLIA2, synergies with DRB (largely for Proton and Pos Malaysia) and also potential new airlines," the research house said in a research note today.

It said for 2012, KLAS made RM171 million in revenue and RM22 million in pre-tax profit. This is in contrast to the revenue and pretax profit of RM148 million and RM21 million respectively for 2011.

KLAS is present in six airports in Malaysia, namely Langkawi, Penang, Subang,Kota Kinabalu, Kuching and the Kuala Lumpur International Airport (KLIA).

It currently has 46 customers, and handled 23,199 flights and 1.8 million meals in 2011.

HwangDBS has maintained a "buy" call on DRB with a target price of RM3.60.

drb mana ada vroom?

still stucked at 0.07

nitezshiro wrote:drb mana ada vroom?

still stucked at 0.07

juznow 0.0 but stop

me eno kena indigestion wor

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Cals wrote:me eno kena indigestion wor

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I think it's a bear flag gua.. it brakes the BB rule.

S1 1.58. I will jump in from there.

aduiiiii.... kuat betul WCT

zz maxis Cg , how come.. ex div comin wor

peanut wrote:aduiiiii.... kuat betul WCT

constuction boom?

JF wrote:zz maxis Cg , how come.. ex div comin wor

got see charta?

rhb cj also kuat

got ppl throw drb-cq @ 65 sia.