Wednesday, 18 April 2012

Eversendai secures RM134 million Qatar museum job

KUALA LUMPUR (April 18) : South Korea’s Hyundai Engineering & CONSTRUCTION [] Co Ltd has roped in Malaysia’s Eversendai Corp Bhd as a sub contractor for package 2 of the Qatar National Museum project. The package is worth QAR160 million (about RM134 million).

In a statement to Bursa Malaysia on Wednesday, Eversendai said it will fabricate and supply steel structures for the construction of the museum.

“Risk factors affecting the Qatar National Museum package 2 contract include but are not limited to execution risks such as availability of skilled manpower and materials,changes in prices of materials, and changes in political, economic and regulatory conditions.

“The company has throughout the years established its track records and expertise to undertake such projects. As such, the management believes that the company is able to mitigate the abovem-entioned risk factors,” Evesendai said,

The job, due for completion in 2013, is expected to contribute to the firm’s earnings for financial years ending December 31,2012 and 2013, it said. Eversendai had secured the estimated RM81 million package-one portion of the Qatar National Museum last February.

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Century Software gets jobs worth RM5.6m from LHDN

KUALA LMPUR (April 18): Century Software Holdings Bhd’s unit has secured contracts worth a total of RM5.6 million from the Inland Revenue Board (LHDN).

The company said on Wednesday that its unit Century Software (Malaysia) Sdn Bhd ("CSM") had on April accepted two letter of awards from the LHDN for two contracts.

The first is a maintenance contract valued at RM3 million for Standard Accounting System for Government Agencies (SAGA) Century Financials from 2012 until 2014 at the LHDN.

The second contract, worth RM2.6 million was to upgrade and replace equipment for the SAGA system, it said.

Cenrtury Software the projects would contribute positively to its future earnings.

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Positive external vibes prop KLCI higher, but index stays shy of 1,600-mark

KUALA LUMPUR (April 18): The FBM KLCI closed higher on Wednesday, in line with the firmer performance at key regional markets, which saw Japan’s Nikkei 225 rising 2%, but the local benchmark index stayed shy of the 1,600 point level.

Japan's Nikkei index rallied 2.1 percent on Wednesday on robust U.S. corporate earnings, firm demand for Spanish debt and an upbeat German economic sentiment survey, with signals that the Bank of Japan may take more easing steps also providing momentum, according to Reuters.

Mewnwhile, China shares also ended up 2% on Wednesday, the biggest one-day percentage rise in more than two months, led by finance and property sectors on expectations the government would ease monetary policy, it said.

The FBM KLCI was up 2.67 points to close at 1,598.86.

Gainers edged losers by 394 to 350, while 337 counters traded unchanged. Volume was 2.13 billion shares valued at RM1.62 billion.

At the regional markets, Jpan’s Nikkei 225 rose 2.14% to 9.667.26, the Shanghai Composite Inde gained 1.96% to 2,380.85, Hong Kong’s Hang Seng Index was up 1.06% to 20,780.73, South Korea’s Kospi added 0.97% to 2,004.53, Taiwan’s Taiex edged up 0.25% to 7,605.00 and Singapore’s Straits Times Index

Among the gainers on Bursa Malaysia, BAT rose 74 sen to RM55.20, United PLANTATION []s up 40 sen to RM25, Dutch Lady 38 sen to RM34.98, Subur Tiasa 26 sen to RM3.08, Carlsberg 24 sen to RM11.28, SAM Engineering and Can-One 20 sen each to RM3.79 and RM2m, while KESM and Hong Leong Industries added 18 sen each to RM2.18 and RM4.29.

Metronic was the most actively traded counter with 362.76 million shares done. The stock added two sen to 19.5 sen.

Other actives included Ariantec, SuperComNet, Focus, Naim Indah Corp, Sanichi, DVM, CSL, Asral Supreme and Tiger Synergy.

Decliners included Tradewinds, Tan Chong, KLK, Genting, Far East, PMB Tech, Aeon Credit and Tradewinds Plantations.

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SMEs to benefit from RM1b offset projects in phase one of MRT

KUALA LUMPUR (April 18): Small and Medium Enterprises (SMEs) will benefit from about RM1 billion in offset projects from phase one of the MY Rapid Transit Project.

Mohd Yusoff Sulaiman, president and chief executive officer of the Malaysian Industry-Government Group for High TECHNOLOGY [] (MIGHT) said the phase one MRT has about 32 to 40 projects.

"One project can have a few multipliers. We aim to match capable SMEs with the main contractors and original equipment manufacturers (OEMs) identified to undertake the MRT project," he added.

He was speaking to reporters at the one-day offset awareness programme, "Business Opportunities for SMEs: MRT Offset Programme", organised by MIGHT, Mass Rapid Transit (MRT) Corp Sdn Bhd and SME Corp Malaysia here.

The Offset programme is an opportunity to derive a greater benefit for SMEs in three forms — namely, technology transfer, local content and market access by providing a platform for OEMs and main contractors to explore potential SMEs to be linked with.

Mohd Yusoff said among the works and desired components from the SMEs include the manufacture of electric trains, signalling and train control system, power supply and distribution system and track works.

He also said other business opportunities that may arise includes the demand for property or housing, food and other services.

Mass Rapid Transit (MRT) Corp Sdn Bhd and MIGHT have initiated the MRT Offset Programme for SMEs under the RM5 billion MRT project, to equalise the cost.

MIGHT's role as the Offset Management Unit for MRT Corp, is to plan, implement and monitor the programme implementation and it has currently identified nine offset projects for the SMEs.

The awareness programme on Wednesday involved a briefing on opportunities and potential collaboration, followed by business-to-business networking sessions with major companies involved in the project, such as Mitsubishi Heavy Industries Ltd, Konsortium Ansaldo STS Emrail and Meidensha Corporation Japan.

"The programme today will assist SMEs in boosting their visibility and capability among the major companies and we will work together to identify the qualified SMEs," Mohd Yusoff said.

The MRT project will be carried out in three phases, with the first phase being a 51km track from Sungai Buloh to Kajang and involving more than 80 work packages. — Bernama

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Hua Yang to launch The Alder Residences in Johor with RM70m GDV

KUALA LUMPUR (APRIL 18): HUA YANG BHD [] will be soft launching its latest green lifestyle development – The Alder Residences at Taman Pulai Hijauan, Johor on April 22.

In a statement Wednesday, Hua Yang said The Alder Residences, with a gross development value (GDV) of RM70 million, was the first phase of the RM380 million Gross Development Value (“GDV”) township.

Taman Pulai Hijauan is Hua Yang’s second township development in Johor after Taman Pulai Indah with a total GDV of RM818 million.

Hua Yang said the 140 acres Taman Pulai Hijauan was located at Skudai, 20 minutes from Johor Bahru and within close proximity to Universiti Teknologi Malaysia, Senai International Airport and the second link to Singapore.

“The Alder Residences will be affordably priced from RM250,000 onwards catering to the middle income segment and proves that better living does not necessarily come at a premium,” it said.

Residents can look forward to spacious homes consisting of four bedrooms and three bathrooms, with large built-ups from 1,834 square feet. The Alder Residences will also be gated and guarded to provide better safety and security for residents.

“Homeowners will find the contemporary designs and various features appealing. Among these include high ceilings to maximise usage of space and skylight windows to allow natural sunlight into the home.

Hua Yang’s Johor Bahru branch manager Soo Kim Hiang said the company’s had also undertaken extensive landscaping to reflect a greener and natural environment.

“The Alder Residences is ideal for young couples looking to raise a family, first-time homebuyers and up-graders looking for something better that is still affordably priced,” he said.

Hua Yang said that overall, 849 units of double storey terrace, cluster and semi-detached homes will be developed in stages at Taman Pulai Hijauan.

There are also plans for shop-houses and commercial developments as well as various community amenities and facilities, it said.

The company said the Alder Residences will be soft launched to the public this Sunday, April 22.

It said buyers who place bookings during this period would receive a RM5,000 cash voucher while only paying RM500 as an initial commitment.

“In line with the “Go Green” concept, the soft launch activities include: plant adoption, children colouring contest and for the first time ever, a Digital 3D Mapping Show, where show units will actually “come to life” with exciting graphic imaging, it said.

For more information, kindly contact: 07-5591388 or visit: for further details.

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Hock Lok Siew tumbles 26% to lowest since Aug 2000 IPO

KUALA LUMPUR (April 18) : Shares of Hock Lok Siew Corp Bhd (HLS) fell 26% to the stock’s lowest since the audio speaker manufacturer’s listing in August 2000. This follows news that its wholly-owned subsidiary Foremost Audio Sdn Bhd (FASB) has defaulted on RM5.51 million worth of debt obligations.

HLS declined 2.5 sen to seven sen on Wednesday morning before rising to nine sen at 2.58pm with some 4.1 million shares done. The company’s initial public offering had involved 7.8 million shares at RM1.70 each.

HLS said it had on Tuesday received a default notice from CIMB Bank Bhd which plans to take legal action against HLS to recover the outstanding loans. HLS said should CIMB succeeds in its legal action, FASB will be liquidated, and accordingly, HLS will become a Practice Note 17 entity.

The borrower said it will be able to fulfill its debt obligation provided that the audio speaker manufacturer is able to negotiate for a debt-settlement scheme with its lender in the next 12 months.

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Slower takaful growth prompts strategy rethink

DUBAI, April 18 (Reuters) - Growth of the takaful or Islamic insurance business is slowing, industry statistics show, increasing pressure on the sector to boost efficiency, roll out new products and explore new markets.

Takaful, which has its core markets in the Gulf and southeast Asia, is one bellwether of consumer appetite for Islamic finance. But profitability has been hit by fierce competition and rapid growth of workforces at takaful providers in past years.

"A key strategy is to scale up family takaful," Shyam Sankar, regional head of insurance sales through bank channels at Bahrain-based Medgulf Allianz Takaful, told Reuters.

The industry's big challenges include building product awareness and making consumers realise the importance of saving over the long term, he added.

An alternative to conventional insurance, takaful is based on the concept of mutuality; the takaful company oversees a pool of funds contributed by all policy holders, but does not necessarily bear risk itself. In their investments, takaful firms must follow religious guidelines, including bans on interest and pure monetary speculation, and a prohibition on investing in industries such as alchohol and gambling.

Product categories are similar to conventional insurance, however, with family coverage, equivalent to life insurance, and general coverage, equivalent to property insurance, accounting for most business.

The market opportunity is significant, according to a report last year by Swiss RE; conventional insurance accounts for 83.1 percent of all premiums written in Muslim countries, it estimated.


Growth of takaful contributions in Saudi Arabia, which provides about half of the total, slowed to 12 percent in 2010, the most recent year for which data is available, from a compound annual growth rate of 38 percent during 2005-2009, a report by consultants Ernst & Young said this week.

Meanwhile growth in Bahrain and Malaysia, regarded as the most well-developed takaful markets, is also showing signs of flagging, though it still outpaces conventional insurance.

The most recent data from the central bank of Bahrain shows takaful premiums grew 20 percent in 2010, far from the 70 percent increase in 2008. Total assets expanded 12 percent in 2010 against 52 percent in 2007.

Bahrain is a major industry hub - the country was the first to deploy regulation specifically designed for takaful, and it has established a healthy retakaful market, which allows operators to obtain coverage on existing policies to manage their risks.

But Bahrain's takaful sector was hit hard by the 2008 global financial crisis, with assets decreasing 35 percent that year, prompting the reorganisation of one of its flagship operators, Solidarity Group. Also, the continuing social unrest in Bahrain casts a shadow over its financial businesses in general.

Malaysia has proved more resilient but has followed a similar trend, according to data from that country's central bank. Takaful assets grew 18 percent in 2010 against 28 percent in 2007.

The deceleration could be hard to reverse because of shrinking sales force in the industry. The number of employees involved in general takaful sales in Malaysia peaked at 32,997 in 2009, when it soared 107 percent from the previous year; but it contracted 5 percent in 2010, while staffing for the conventional insurance industry fell just 2 percent.

If these patterns continue, the global takaful industry could slow to single-digit growth in coming years. But some operators are determined to tap new markets to prevent this.


Takaful companies are exploring new markets such as Egypt and Jordan; Islamic finance is expected to receive a boost in North Africa from last year's Arab Spring uprisings, which removed authoritarian governments that discouraged or neglected sharia-compliant business for political reasons.

Bahrain's Solidarity has moved into Egypt and Jordan. A consortium of Doha-based institutions tapped the Pakistani market by launching Pak-Qatar Takaful in 2006.

Other firms have seen opportunities in markets such as Lebanon, which posted 102 percent growth in takaful contributions during 2010, and Indonesia. A report by actuarial consultants Milliman forecasts strong growth for takaful in southeast Asia, suggesting it could become three times as large as the Middle East by 2015.

Ernst & Young forecasts Saudi Arabia's share of the global takaful market will drop to 44 percent this year as newer markets grow faster, and the trend of new markets outpacing traditional ones could continue in coming years.

Other companies are focusing on building size in their domestic markets, which could give them economies of scale.

Ghassan Marrouche, chief executive of Takaful Emarat in the United Arab Emirates, said his company was expecting double-digit growth rates in coming years, supported by the launch of several new products including a capital-protected instrument and a "microtakaful" product focused on low-income earners.

"We want to be positioned well in the UAE market before we move outside," he said. "It is a very dynamic market."

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Matrade: Jewellers should look toward China

KUALA LUMPUR (April 18): Malaysian jewellery firms with good and innovative designs should find good footing in the Chinese marketplace, given that the jewellery market in China is expected to grow by 35%, with momentum expected to continue for the next five years as economic growth pushes sales, according to the Malaysia External Trade Development Corporation (Matrade).

Matrade said sales in China — especially of gold, which in 2011 exceeded 750 tonnes — showed that it is overtaking India as the largest gold jewellery market.

In a statement on Wednesday, Matrade said this trend was primarily attributed to thriving domestic demand and increasing disposable incomes, particularly in second- and third-tier cities.

"Jewellery — especially gold — has traditionally been given at weddings and births, and demand has been buoyed with rising awareness of jewellery as an anti-inflation asset," it said.

Matrade, citing China's National Bureau of Statistics, said domestic Chinese jewellery companies also posted their best ever sales in 2011, with figures reaching approximately 183.7 billion yuan (RM90 billion) and growth rates of in excess of 42%.

"Demand for other consumer goods, by comparison, rose 17.1% last year," it said.

It said traditional sources of jewellery imports into China included South Africa, Italy, Switzerland, Hong Kong, United States, France, Australia, Japan, Thailand and South Korea, while Malaysian exports of jewellery to China in 2011 recorded a total of US$900,000 (RM2.75 million) for the first time.

Matrade said that Malaysian companies wishing to export jewellery to China would need to link up with buyers who have permits to import these items.

"It is advantageous to export jewellery from Malaysia, which currently enjoys zero duty for exports of jewellery items under China-Asean Free Trades Area.

"With the substantive tariff reduction, Malaysian jewellery will be competitive, and with good and innovative designs should find good footing in the Chinese marketplace," it said.

Matrade, the external trade promotion arm of the Ministry of International Trade and Industry (Miti), was established to promote, assist and develop Malaysia's external trade, with particular emphasis on the export of manufactured and semi-manufactured products and services, as well as to formulate and implement export marketing strategies and trade promotion activities to promote Malaysia's exports.

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Wijaya gains 3% on Indonesian venture

KUALA LUMPUR (April 18) : WIJAYA BARU GLOBAL BHD [] shares climbed as much as 3% on Wednesday morning after the timber entity said it plans to undertake logging operations and oil palm cultivation in Indonesia.

The stock added two sen to 74 sen before settling lower at 73 sen at lunch break.

Wijaya told the bourse on Tuesday that it is talking to a few interested parties on the feasibility of undertaking logging operations and oil palm cultivation in Indonesia’a Papua province.

“However, all the negotiations are still in the very preliminary stage and nothing has been concluded yet,” Wijaya said.

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Public Bank 1Q profit up 6% year-on-year

KUALA LUMPUR (April 18) : PUBLIC BANK BHD [] says its first quarter (1Q) net profit rose 6% from a year earlier as higher interest and fee-based income, besides lower allowance for impaired loans, mitigated the impact of higher operating expenses.

Public Bank told the exchange on Wednesday that its net profit came to RM940.81 million in the quarter ended March 31, 2012 against RM884.06 million previously. Revenue was up 13% to RM3.37 billion from RM2.99 billion.

“The Public Bank group is expected to sustain its strong market position in the domestic retail operations segment, driven by continued growth in retail lending and customer deposits. The group continues to see growth opportunities for residential and commercial PROPERTIES [], underpinned by steady economic growth, stable inflation, low unemployment and accommodative interest rates.

“While more moderate household loan growth is expected due to various prudential measures introduced since late 2010, this will be balanced by sustained demand for business loans amid growing investment by businesses and ongoing efforts by the government to further promote the growth of the small- and medium enterprises,” Public Bank said.

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KLCI stays put above 1,600-mark at mid-day break

KUALA LUMPUR (APRIL 18): The FBM KLCI stayed put above the crucial 1,600-point level at the mid-day break on Wednesday, up in tandem with its key regional peers that rose on the back of a firmer overnight close at Wall Street.

Asian shares rose on Wednesday as firm demand at Spanish debt sales, positive U.S. corporate earnings and an improvement in a key German sentiment survey boosted investor confidence in riskier assets, according to Reuters.

The FBM KLCI rose 5.05 points to 1,601.24 at the mid-dy break, lifted by key blue chips including Maybank, CIMB, Sime darby, Axiata and Tenaga.

The broader market sentiment improved with 319 gainers, 297 losers and 310 counters trading unchanged. Volume was 1.43 billion shares valued at RM757.83 million.

The ringgit strengthened 0.04% to 3.0642 versus the greenback, crude palm oil futures for the third month delivery fell RM8 per tonne to RM3,495, crude oil added 19 cents per barrel to US$102.39 while gold rose US$3.13 an ounce to US$1,652.70.

At the regional markets, Japan’s Nikkei 225 rose 1.85% to 9,639.36, Hong Kong’s Hang Seng Index up 1.2% to 20,808.80, the Shanghai Composite Index gained 1.33% to 2,366.11, south Korea’s Kospi rose 1.06% to 2,006.31 and Singapore’s Straits Times Index edged up 0.57% to 3,003.63, while Taiwan’s Taiex was up 0.39% to 7,615.42.

Among the gainers in the morning session, BAT rose 54 sen to RM55, Dutch Lady added 38 sen to RM34.98, SAM Engineering up 27 sen to RM3.86, subur Tiasa 22 sen to RM3.04, Carlsberg 20 sen to RM11.24, Hong Leong Industries 18 sen to RM4.29, while Tong Herr, Panasonic and United PLANTATION []s gained 10 sen each to RM2.49, RM21.70 and RM24.70.

Meanwhile, Maybank and CIMB rose six sen each to RM8.87 and RM7.68, Sime Darby, Axiata and Tenaga were up three sen each to RM9.93, RM5.39 and RM6.54 respectively.

Metronic was the most actively traded counter with 291.81 million shares done. The stock rose four sen to 21.5 sen.

Other actives included Ariantec, SuperComNet, Focus, Naim Indah Corp, Sanichi and SCL.

Decliners included Nestle, Far East, Sarawak Oil Palms, APM, PMB Tech, KLK, UMS, HLFG and SMPC.

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Ariantec at 7-year high

KUALA LUMPUR (April 18) : Shares of Ariantec Global Bhd rose to its highest in almost seven years on news that Datuk Raymond Chan Boon Siew has emerged as a substantial shareholder in the information TECHNOLOGY [] firm.

Ariantec, one of the most-actively traded, rose as much as 25% or five sen to 25 sen on Wednesday morning, the highest since May 2005. The stock had traded lower at 22 sen 10.59am with some 195 million shares changing hands.

Updates to the exchange indicate that Chan had acquired 26.5 million shares in the open market on Tuesday. Following the purchase, he has 29 million shares or 5.1% in Ariantec.

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KLCI gains on Spanish bond sale, US corporate earnings

KUALA LUMPUR (April 18) : Malaysian stocks rose on Wednesday morning in tandem with Asian markets on strong demand for Spain government bonds and better US corporate earnings.

Analysts expect the FBM KLCI to register gains on Wednesday following a stronger overnight close across US markets.

“While increased speculation on ACE market and penny stocks lifted trading activity above the two billion shares mark yesterday, the lower traded value implies that the broader market and blue chips are likely to remain in consolidation mode on cautious trade,” TA Securities Holdings Bhd wrote in a note.

At 10.01am, the FBM KLCI added 5.25 points to 1,601.44. Across the exchange, some 519 million shares worth RM227 million were traded, leading to 265 gainers versus 136 decliners.

Top gainers Sam Engineering & Equipment (M) Bhd rose 29 sen to RM3.88 while SUBUR TIASA HOLDINGS BHD [] was up 20 sen to RM3.02.

Decliners SARAWAK OIL PALMS BHD [] fell 11 sen to RM6.77 while PETRONAS DAGANGAN BHD [] was down 10 sen to RM18.68.

Most active was Ariantec Global Bhd which rose two sen to 22 sen with some 157 million shares done.

Among Asian bourses, Japan’s Nikkei 225 climbed 1.64% to 9,619.46 points while Australia’s S&P/ ASX 200 rose 1.38% to 4,347.8. South Korea’s Kospi was up 1.01% to 2,005.43.

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Maybank IB Research downgrades Aeon to Hold from Buy

KUALA LUMPUR April 18): Maybank Investment Bank Bhd Research has downgraded Aeon Co (M) Bhd to a Hold at RM9.6 with an unchanged target price of RM8.70 and said the company’s share price was up an impressive 33% year-to-date and had breached its target price (pegged at 14x 2013 PER).

“With little upside catalyst at this stage and low dividend yield as support, we downgrade our recommendation from Buy to Hold.

“We forecast revenue growth of 6.8% for the group in 2012, in line with the 6% industry growth expected by the Retail Association of Malaysia,” Maybank IB Research said in a note on Wednesday.

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CIMB Research maintains Outperform on PetDag, target price RM21.80

KUALA LUMPUR (April 18): CIMB Research has maintained its Outperform rating on Petronas Dagangan (PetDag) at RM18.78 and target price of RM21.80 and said that unlike Esso stations that ran on empty earlier this month due to a shortage of fuel, PetDag’s pumps were far from dry.

In a note Wednesday, the reach house said that the company’s network expansion was also on track and it had collected the bulk of subsidies receivable from the government.

“We continue to value the stock at 18.2x CY13 P/E, 40% premium over our target market P/E to reflect its earnings visibility and attraction as a growth and dividend stock.

“PetDag remains an Outperform and our big-cap oil & gas top pick,” it said.

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KLCI up in early trade, crosses 1,600-mark

KUALA LUMPUR (April 18): The FBM KLCI opened higher on Wednesday, lifted by key blue chips, in line with the rejuvenated regional markets, following the firmer overnight close at Wall Street.

Asian shares rallied in early trade on Wednesday, with risk appetite rejuvenated by a string of positive earnings from US companies and after Spain saw a fall in debt yields and drew strong demand at its bond auction, according to Reuters the FBM KLCI rose 4.28 points to 1,600.47 at 9am.

The broader market was positive with 112 gainers, 19 losers and 66 counters trading unchanged. Volume was . 41.14 million shares valued at RM16.93 million.

Among the early gainers were SAM Engineering, Tong Herr, Carlsberg, Hong Leong Industries, Maybank, CIMB, Parkson, Genting and MMC Corp

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MIDF Research starts coverage on CMMT with Neutral rating, target price RM1.51

KUALA LUMPUR (April 18): MIDF Research has initiated coverage on Capita Malls Malaysia Trust (CMMT) with a Neutral recommendation, setting a target price of RM1.51 based on the Gordon Growth Model (Required rate of return: 8.20%, perpetual growth rate: 3%, forward DPU: 7.9 sen).

In a note Wednesday, the research house said that in the longer term, CMMT had strong growth potential by leveraging on its sponsor’s management expertise, extensive network of tenants and potential yield-accretive asset injection.

“Even though the 5.7% distribution yield of CMMT in FY12 was much lower as compared to the sector average of 7.03%, investor will be compensated by higher free float (in absolute value) as well as more resilient earnings growth,” it said.

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Stocks to Watch Ariantec, V S Industry, Grand-Flo, United Plantations, APM

KUALA LUMPUR (April 17): External factors may continue to have an upper hand in dictating the direction of Malaysian stocks on Wednesday. For now, dynamics of the European sovereign debt market will be closely watched, on concerns that Spain's rising bond yields could threaten the stability of the region's economy.

That, together with the landscape in the US and China, could have an impact on Asian financial markets, as investors evaluate the effects of these major global importers on emerging exporting nations like Malaysia.

The FBM KLCI of 30 stocks fell 1.32 points to close at 1,596.19 on Tuesday.

Stocks to watch Wednesday include Ariantec Global Bhd, V.S INDUSTRY BHD [], GRAND-FLO SOLUTION BHD [], United PLANTATION []s Bhd, and APM AUTOMOTIVE HOLDINGS BHD [].

Bursa Malaysia has queried information TECHNOLOGY [] firm Ariantec on the unusual trading patterns of the stock. It was the most actively traded stocks in the morning session on Tuesday.

V S Industry shares go ex-dividend on Wednesday. The electronic products contract manufacturer plans to pay a second interim single-tier dividend of two sen a share for financial year ending July 31, 2012.

Grand-Flo, an enterprise data collection and collation system solutions provider, plans to reward shareholders with a final dividend of 1.2 sen a share for financial year ended Dec 31, 2011. The firm said that the dividend proposed is in line with its dividend policy, which aims to distribute to its shareholders a minimum of 20% of the group's net profits for each financial year.

United Plantations plans to reward shareholders with a special and final dividend with a combined value of 60 sen a share for financial year ended December 31, 2011. United Plantations said the special portion comprises a 50% gross payment of the stock's par value of RM1 less 25% tax. This translates into 37.5 sen a share. The final dividend of 30% less tax, translates into 22.5 sen.

APM has established a wholly-owned subsidiary, PT APM Auto Components Indonesia, to undertake production and sale of automotive heat exchange products on an industrial lot at Suryacipta Industrial City in Karawang, West Java. It said the Indonesian authorities had approved the deed of establishment of the subsidiary, and that completion of the facility was expected by the end of 2012. Operations would commence in the second quarter of 2013.

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