Supermax eyes 1-for-1 bonus issue
KUALA LUMPUR: Supermax Corp Bhd has proposed a one-for-one bonus issue and a share buyback scheme.
The company said yesterday the bonus issue will add 340.07 million new shares to its paid-up capital.
It said the proposed share buyback, if implemented, would enable it to utilise its surplus financial resources, which is not immediately required for other uses, to purchase its own shares from the market.
“The proposed share buyback is expected to stabilise the supply and demand, as well as the price of the Supermax shares,” it said.
Scomi to exit US, Mexico, sells US$35m assets
KUALA LUMPUR: Scomi Group Bhd is selling its waste management business in the US and Mexico for US$35 million (RM108.8 million) as it seeks to refocus on Asia.
The company said yesterday the assets would be disposed off to National Oilwell Varco Inc’s subsidiaries. Scomi said it was repositioning itself in Malaysia by increasing its products and services portfolio within the upstream oil and gas industry.
DiGi on track for payback to shareholders
KUALA LUMPUR: Digi.Com Bhd is expected to distribute about RM509 million to its shareholders by the first half of 2012 (1H12) under the proposed capital distribution.
It said yesterday its unit DiGi Telecommunications Sdn Bhd (DiGiTel) had issued 100,000 redeemable preference shares (RPS) to DiGi.
The RPS will be redeemed by DiGiTel on March 7, 2012. Upon redemption of the RPS, DiGi will receive about RM509 million and is expected to distribute such amount (less expenses) to DiGi shareholders by 1H12.
SunREIT 1Q net profit at RM43.86m
KUALA LUMPUR: Sunway Real Estate Investment Trust (SunREIT) posted net profit of RM43.86 million in 1QFY11 ended Sept 30 on revenue of RM95.04 million.
SunREIT proposed an interim income distribution of about 100% of the realisable income amounting to RM47.1 million or 1.75 sen per unit. This amount includes surplus cash arising from 50% manager’s fee payable in units of RM2.7 million.
SunREIT said the revenue was an increase of 31.2% from RM72.44 million a year ago.
“The initial portfolio of eight properties and Sunway Putra Place contributed to the increase by RM14.4 million and RM8.2 million respectively,” it said.
SunREIT said the retail properties from the initial portfolio had contributed an increase of RM9.8 million compared with 1Q11 mainly due to rental revision from Sunway Pyramid Shopping Mall.
This article appeared in The Edge Financial Daily, November 2, 2011.
KUALA LUMPUR: Supermax Corp Bhd has proposed a one-for-one bonus issue and a share buyback scheme.
The company said yesterday the bonus issue will add 340.07 million new shares to its paid-up capital.
It said the proposed share buyback, if implemented, would enable it to utilise its surplus financial resources, which is not immediately required for other uses, to purchase its own shares from the market.
“The proposed share buyback is expected to stabilise the supply and demand, as well as the price of the Supermax shares,” it said.
Scomi to exit US, Mexico, sells US$35m assets
KUALA LUMPUR: Scomi Group Bhd is selling its waste management business in the US and Mexico for US$35 million (RM108.8 million) as it seeks to refocus on Asia.
The company said yesterday the assets would be disposed off to National Oilwell Varco Inc’s subsidiaries. Scomi said it was repositioning itself in Malaysia by increasing its products and services portfolio within the upstream oil and gas industry.
DiGi on track for payback to shareholders
KUALA LUMPUR: Digi.Com Bhd is expected to distribute about RM509 million to its shareholders by the first half of 2012 (1H12) under the proposed capital distribution.
It said yesterday its unit DiGi Telecommunications Sdn Bhd (DiGiTel) had issued 100,000 redeemable preference shares (RPS) to DiGi.
The RPS will be redeemed by DiGiTel on March 7, 2012. Upon redemption of the RPS, DiGi will receive about RM509 million and is expected to distribute such amount (less expenses) to DiGi shareholders by 1H12.
SunREIT 1Q net profit at RM43.86m
KUALA LUMPUR: Sunway Real Estate Investment Trust (SunREIT) posted net profit of RM43.86 million in 1QFY11 ended Sept 30 on revenue of RM95.04 million.
SunREIT proposed an interim income distribution of about 100% of the realisable income amounting to RM47.1 million or 1.75 sen per unit. This amount includes surplus cash arising from 50% manager’s fee payable in units of RM2.7 million.
SunREIT said the revenue was an increase of 31.2% from RM72.44 million a year ago.
“The initial portfolio of eight properties and Sunway Putra Place contributed to the increase by RM14.4 million and RM8.2 million respectively,” it said.
SunREIT said the retail properties from the initial portfolio had contributed an increase of RM9.8 million compared with 1Q11 mainly due to rental revision from Sunway Pyramid Shopping Mall.
This article appeared in The Edge Financial Daily, November 2, 2011.
