jan 14th -Companies in the news HeveaBoard, Pintaras Jaya, CIMB Group, Dufu, PUC Founder, Scanwolf, Bina Puri, UEM Edgenta and UEM Sunrise

by **Cals** Thu 14 Jan 2016, 01:42

Companies in the news

[size=28]HeveaBoard, Pintaras Jaya, CIMB Group, Dufu, PUC Founder, Scanwolf, Bina Puri, UEM Edgenta and UEM Sunrise

By Tan Siew Mung / theedgemarkets.com | January 13, 2016 : 10:56 PM MYT

KUALA LUMPUR (Jan 13): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Thursday, Jan 14) could include the following: HeveaBoard, Pintaras Jaya, CIMB Group, Dufu, PUC Founder ([You must be registered and logged in to see this image.] Valuation: 1.10, Fundamental: 1.70), Scanwolf, Bina Puri, UEM Edgenta and UEM Sunrise.

HeveaBoard Bhd ([You must be registered and logged in to see this image.] Valuation: 1.10, Fundamental: 2.70) has again refuted allegations against the company that was posted on several articles on an online stock investor portal, and said it reserves all rights to take legal action against the portal.

In a bourse filing, HeveaBoard termed the contents of those articles as "untrue, defamatory and malicious in nature".

Pintaras Jaya Bhd ([You must be registered and logged in to see this image.] Valuation: 1.80, Fundamental: 1.95) will be undertaking a RM27.5 million job in relation to the construction and completion of piling and pilecap works for a proposed mixed development project in Bandar Bestari, Klang, Selangor.

In a filing with Bursa, Pintaras Jaya said its wholly-owned subsidiary Pintaras Geotechnics Sdn Bhd received a letter of award from Khoo Soon Lee Realty Sdn Bhd yesterday to undertake the 10-month project from Feb 1.

It said the contract is expected to contribute positively to the group's future earnings.

CIMB Group Holdings Bhd chief executive Tengku Datuk Seri Zafrul Aziz will take on an additional role of chief executive officer (CEO) of CIMB Bank Bhd from Jan 20.

In a statement today, CIMB Group said Zafrul will step down from his position as CEO of CIMB Investment Bank Bhd ([You must be registered and logged in to see this image.] Valuation: 1.65, Fundamental: 0.55) with effect from the same date.

In the interim, the board of directors of CIMB Group has elected Datuk Kong Sooi Lin, who is now the deputy CEO of CIMB Investment Bank, as the person in charge.

Dufu Technology Corp Bhd ([You must be registered and logged in to see this image.] Valuation: 2.40, Fundamental: 1.70) said it is unaware of any corporate development, rumour or possible explanation to account for the recent unusual trading of its shares.

Dufu's share price rose 12 sen or 23.53% to 63 sen today for a market capitalisation of RM89.5 million. The trading volume also spiked to 46.48 million shares.

In a filing to Bursa today, Dufu said, after making due inquiry with all the board members and major shareholders, it is not aware of any corporate development relating to the Group's business and affairs that has not been previously announced that may account for the unusual market activity including those in the stage of negotiation or discussion.

PUC Founder (MSC) Bhd (PUCF) said it is eyeing government-linked renewable energy (RE) projects as it aims to secure contracts via its joint venture (JV) with Malaysian Green Technology Corp (GreenTech Malaysia).

At a signing ceremony today, PUCF inked a JV and shareholder agreement with GreenTech Malaysia Alliance (GTMA), a wholly-owned subsidiary of GreenTech Malaysia, which will see GTMA subscribing for a 20% stake in the JV company (JV Co), PUC Founder Technology Sdn Bhd, to bid for RE contracts in government or government-linked corporations.

PUCF will hold the remainder 80% equity stake in the JV Co.

Scanwolf Corp Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 0.55) is selling a 1.5ha (3.72 acre) portion of its 59-acre land at Kampar, Perak, to public transport operator The Combined Bus Services Sdn Bhd for RM1.62 million, for the latter to build an integrated bus terminal complex (IBTC).

Scanwolf told Bursa today that with the IBTC, Scanwolf Properties will be able to command a higher premium in the selling price for future projects and will definitely improve the marketability of these properties.

Scanwolf said it expects to complete the land transaction within three months.

Bina Puri Holdings Bhd ([You must be registered and logged in to see this image.] Valuation: 2.00, Fundamental: 0.15) is aiming to secure construction projects worth RM1 billion this year, from both overseas and the domestic market.

The group's executive director Matthew Tee told pressmen at a briefing today that the management is confident of securing RM1 billion worth of construction projects, based on the company's previous track record.

Bina Puri has ongoing projects worth RM3.4 billion and an outstanding orderbook of RM1.89 billion. Out of this, he said 87% of these ongoing projects are from Malaysia, while the remaining are from overseas.

UEM Sunrise Edgenta TMS Sdn Bhd (UEMSET) and a wholly-owned unit of Medini Iskandar Malaysia Sdn Bhd, Township Management Services Sdn Bhd (TMS), have formed a JV Co that is set to be Malaysia's first holistic township management service operator.

The JV Co — in which UEMSET will hold a 70% stake, and TMS the remaining 30% — will focus on township management services comprising facilities management, estate management and security management for building owners and residents of the Medini and Nusajaya townships in Iskandar Malaysia, Johor.

UEM Edgenta Bhd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 2.50)'s wholly-owned unit Edgenta Township Management Services Sdn Bhd owns 70% of UEMSET, while UEM Sunrise Bhd ( Valuation: 2.60, Fundamental: 1.50) holds 30%.

UEM Edgenta's CEO Azmir Merican said the JV will be Malaysia's first holistic township management services operator and allow each party to not only focus on their respective core business, but also to collaborate and share their resources in the provision of holistic, end-to-end township management services.

"It also allows UEM Edgenta to expand our facilities management services in the southern region, where our presence is not that strong yet, and we will also be servicing UEM Sunrise's developments in Iskandar Puteri; this will probably kick off in the second quarter of this year," he told reporters after a shareholders' agreement was inked between UEMSET and TMS today.

Medini Iskandar's managing director and CEO Datuk Ir Khairil Anwar Ahmad said the JV is also set to provide services for developments in Medini this year.

"Our marketing team is currently engaging with developers in Medini. Needless to say, we are looking at finalising our business plan, sometime in 2016.

"Our partnership with UEMSET will definitely contribute further to our vision and aspiration to enhance the liveability and attractiveness of Medini," said Khairil Anwar.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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