KLCI stays in the red, lags regional markets

KUALA LUMPUR (Jan 10): The FBM KLCI lagged behind the regional markets and remained in negative territory at the mid-day break on Tuesday, weighed down by select blue chips, with GENTING BHD [] among the major decliners

Asian shares and the euro rose on Tuesday, but concerns over funding of euro zone sovereigns ahead of key auctions this week and of the debt crisis spilling into the wider financial system kept investors cautious about taking riskier positions, according to Reuters.

The FBM KLCI was down 1.58 points to 1,520.15 at the mid-day break. The broader market displayed signs of caution, with losers beating gainers by 352 to 274, while 329 counters traded unchanged. Volume was 955.36 million shares valued at RM788.27 million.

The ringgit strengthened 0.43% to 3.1389 versus the US dollar; crude palm oil futures for the third month delivery added RM11 to RM3,221, crude oil rose 37 cents to US$101.68 while gold gained US$4.25 an ounce to US$1,615.82.

At the regional markets, Japan’s Nikkei 225 was up 0.41% to 8,424.49, Hong Kong’s Hang Seng Index added 0.55% to 18,969.75, the Shanghai Composite Index rose 1.53% to 2,259.88, Taiwan’s Taiex added 1.05% to 7,167.20, South Korea’s Kospi up 1.61% to 1,855.97 and Singapore’s Straits Times Index gained 0.93% to 2,716.18.

On Bursa Malaysia, Genting fell 20 sen to RM10.94, Lafarge Malayan Cement down 19 sen to RM6.71, Ta Ann and BHIC lost 12 sen each to RM5.48 and RM3.67, Nestle, Genting PLANTATION []s, GAB and Tradewinds down 10 sen each to RM55.90, RM8.80, RM12.50 and RM9.68 respectively, KLCCP eight sen to RM3.30 while Goldis fell seven sen to RM1.78.

Takaso was the most actively traded counter this morning with 58.4 million shares done. The stock gained 1.5 sen to 25.5 sen.

Other actives included JCY, KHSB, Versatile, Maybulk and Coastal warrants.

Gainers included Dutch Lady, Cepco, United Plantations, Petronas Gas, KLK, Harvest Court, F&N and Maybulk.



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Trigoh buys out Macro Kiosk for RM15m

The founders of Macro Kiosk Bhd, a multi-country mobile technology enabler, have initiated a management buyout (MBO) of the latter from Goldis Bhd.

In a statement today, Macro Kiosk said the MBO by Malaysian brothers, Kenny Goh, Henry Goh and Goh Chee Seng will be carried out via their corporate vehicle, Trigoh Sdn Bhd.

They are the Chief Executive Officer, Chief Operating Officer and Head of Corporate Affairs of Macro Kiosk, respectively.

"The MBO encompasses the purchase of the 70 per cent stake in Macro Kiosk currently held by Goldis for RM15 million cash.

"Goldis reported that the proposed disposal was a timely opportunity for it to realise and unlock the value of its original investment in Macro Kiosk.

"It will result in an estimated gain of about RM9.5 million derived from the buyout proceeds at the Goldis' Group level," the statement added.

Goh said the acquisition gives the company more control and allows it to be more nimble and flexible in pursuing new opportunities, whilst ensuring that all customers still continue to have the best experience in both services and support.

"We believe we have a successful formula as we are present in 13
countries and our next market will be the United Arab Emirates.

"Our immediate plan is to further strengthen our foothold in the Middle East where we aim to cover the entire region within three to four years," he added. -- BERNAMA



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Goldis disposes of Macro Kiosk for RM15m

KUALA LUMPUR: Goldis Bhd announced yesterday it has accepted an offer from Trigoh Sdn Bhd to dispose of its 70% stake in Macro Kiosk Bhd (MKB) for RM15 million cash.

The proposed disposal will be a management buyout (MBO) by Goh Chee Ken, Goh Chee Heng and Goh Chee Seng who are the chief executive officer, chief operating officer and head of corporate affairs of MKB respectively.

MKB’s principal activity is as a mobile communications technology provider.

The three Gohs will conduct the MBO through Trigoh of which they are also directors and shareholders.

The offer price is about five times MKB’s net cash flow which stood at RM5.04 million for the financial year ended Jan 31, 2011.

The 70% stake in MKB was originally acquired for RM105,000 on Feb 1, 2002.
Goldis reported that the expected gain on disposal of MKB will be about RM9.5 million.

Goldis reported that the total proceeds of the disposal will be “utilised for capital expenditure/future investments.

This includes investing in the equities of private companies operating in various sectors.

Goldis had reported a strong third quarter ended Oct 31 net profit of RM237.41 million of which RM221.23 million could be attributable to the disposal of Goldis’ subsidiary, HEOPharmaHoldings Sdn Bhd, on Aug 1.

On the news of a 9.625 sen dividend and strong quarterly earnings announced on Tuesday, Goldis’ share price closed 5% higher yesterday at RM1.88 up from RM1.79.




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Goldis proposes 9.625 sen dividend

KUALA LUMPUR: Private equity investment company Goldis Bhd has reported a spike in its 3QFY12 results ended Oct 31 with net profit of RM237.41 million, up from RM11 million in the previous corresponding period mainly due to the disposal of assets.

Given the sharp jump in earnings, Goldis declared a second net interim dividend of 9.625 sen for FY12 ending Jan 31.

With 610.37 million shares issued, Goldis’ dividend payout should see roughly RM58.75 million in equity returned to its shareholders.

Proceeds from the disposal of Goldis subsidiary, HOEPharma Holdings Sdn Bhd to Taisho Pharmaceutical Co, which was completed on Aug 1, boosted 3Q earnings by RM221.23 million. Revenue rose nearly 50% to RM75.82 million from RM50.64 million previously.

Adjusting for the disposal of its subsidiary, which should be recorded as an extraordinary item, Goldis’ profits actually stand at RM16.18 million for 3Q, a 35.68% improvement from a year earlier.

Net assets per share jumped to RM2.32 from RM1.93, which can be attributed to the proceeds from the disposal of HOEPharma that boosted cash and bank balances to RM252.32 million as at Oct 31, compared with RM65.26 million at the same time last year. The sale of HOEPharma recorded RM275.32 million in Goldis’ cash flow statements.



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Goldis jumps to 17-year high after payout

Goldis Bhd, a Malaysian investment company with interests in property, jumped to its highest level in 17 years in Kuala Lumpur trading after declaring dividend of 10 sen per share after its quarterly profit jumped to RM237.4 million.

The stock gained 6.2 per cent to RM1.90 at 9.06 am local time, set for the highest close since Dec 29, 1994. -- Bloomberg



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Goldis edges up in early trade

KUALA LUMPUR (Dec 14): GOLDIS BHD [] shares advanced on Wednesday after its net profit for the third quarter ended Oct 31, 2011 surged to RM237.4 million from RM11 million a year earlier, due mainly to the gain on disposal of a subsidiary amounting to RM221.2 million.

At 9.15am, Goldis added 11 sen to RM1.90 with 30,900 shares traded.

Revenue for the quarter rose 49.7% to RM75.82 million from RM50.64 million in 2010.

The company on Tuesday declared a gross second interim dividend of half a sen and 9.50 sen single tier per ordinary share, to be paid Jan 18, 2012.



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HDBSVR sees KLCI facing marginal downward bias

KUALA LUMPUR (Dec 14): Hwang DBS Vickers Research says the benchmark FBM KLCI may continue to swing sideways with a marginal downward bias on Wednesday due a dearth of positive developments abroad.

It said investors were disappointed when the US policymakers did not mention fresh measures that could be taken to stimulate the US economy following a scheduled meeting by the Federal Open Market Committee on Tuesday night.

In reaction, major stock indices on Wall Street lost between 0.6% and 1.3% at the closing bell.

HDBSVR said as for Bursa Malaysia, stocks which could see trading interest were QSR Brands and GoldIS.

The research house said a news report stated Johor Corporation planned to take QSR private. The takeover deal may also involved Kulim, a subsidiary of Johor Corporation that controls QSR Brands and in turn owns KFC Holdings.

It also said GoldIS could also see trading interest after it declared a second interim dividend of 10 sen per share, translating to a yield of 5.6% based on yesterday’s closing price.



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Stocks to watch: DRB-Hicom, Proton, GoldIS, Faber, Mah Sing

KUALA LUMPUR (Dec 13): DRB-HICOM BHD [] and PROTON HOLDINGS BHD [] would continue to be in focus on Wednesday amid the heavy newsflow despite analysts’ caution that DRB-Hicom’s takeover of Proton might not add value.

The latest development was Proton adviser, Tun Dr Mahathir Mohamad that the buyer of Khazanah Nasional Bhd's 42.7% stake in the national car maker might have to inject maybe another RM2 billion more.

Dr Mahathir, the prime mover behind the national car project, said at the moment, Proton cannot make progress, introduce new vehicles and all that, because of shortage of funds.

The call warrants of Proton and DRB-Hicom were very actively traded on Tuesday on expectations of DRB-Hicom’s purchase of the Khazanah stake.

Other counters which could see trading interest are GOLDIS BHD [], FABER GROUP BHD [], MAH SING GROUP BHD [], RAMUNIA HOLDINGS BHD [].

GoldIS’s net profit for the third quarter ended Oct 31, 2011 surged to RM237.4 million from RM11 million a year earlier, due mainly to the gain on disposal of a subsidiary amounting to RM221.2 million. Revenue for the quarter rose 49.7% to RM75.82 million from RM50.64 million in 2010.

It declared a gross second interim dividend of half a sen and 9.50 sen single tier per ordinary share, to be paid Jan 18, 2012.

As for Faber, Al Femah Contracting and Transporting Establishment is seeking RM13.10 million in claims from Faber Group Bhd’s subsidiary and Projek Penyelenggaraan Lebuhraya Bhd (Propel).

Faber said its subsidiary Faber Limited Liability Company (Faber LLC) had received a summons and statement of claim from Al Femah in the UAE.

Ramunia posted net profit of RM112,000 in the fourth quarter ended Oct 31, 2011 compared with RM30.36 million when there was a one-time writeback from a previously concluded scheme of arrangement. Its revenue was RM15.67 million compared with only RM992,000 a year ago. Its earnings per share were 0.02 sen compared with 4.91 sen.

For the financial year ended Oct 31, 2011, its net profit plunged to RM4.66 million from RM65.78 million in the previous financial year. Its revenue fell 45.6% to RM18.95 million from RM34.86 million.

Mah Sing Group Bhd has disputed with the joint venture partners for the proposed development of a piece of prime land along Jalan Tun Razak here and had maintained the agreement is valid.

Mah Sing said on Tuesday the two parties -- Asie Sdn Bhd and Usaha Nusantara Sdn Bhd -- had claimed the joint venture agreement (JVA) for the development of the 4.08 acres site had lapsed “and is of no effect from Dec 2, 2011” as the conditions were not met.

“Mah Sing however, takes a different position and maintains that the JVA has not lapsed,” it said, referring to its Dec 6 announcement that it waived the conditions in the Aug 2 announcement.

S P Setia Bhd’s request for more time to fulfill the conditions in its purchase of 1,010.5 acres of land in Ulu Langat, Selangor for RM330.13 million was rejected by the vendor Ban Guan Hin Realty Sdn Bhd.

S P Setia said Ban Guan Hin Realty did not agree to an extension of the period to fulfill the conditions, including securing the Estate Land Board’s approval for the sale and transfer of the land to the purchaser.



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Goldis posts higher Q3 pre-tax profit

Goldis Bhd posted a significantly higher pre-tax profit of RM237.64 million in the third quarter ended October 31, 2011, compared to RM6.50 million recorded in the same period last year.

In a filing to Bursa Malaysia today, the company attributed the profit to gains from the disposal of a subsidiary amounting to RM221.2 million during the quarter.

There was also higher contribution from the property and investment segment, it said. Goldis' revenue increased to RM75.82 million against the RM50.64 million previously.

"Increase in revenue was due to higher contribution from the property, ICT, paper and hotel segment," it added. -- Bernama



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Goldis 3Q net profit surges to RM237.4m on gain on disposal

KUALA LUMPUR (Dec 13): GOLDIS BHD [] net profit for the third quarter ended Oct 31, 2011 surged to RM237.4 million from RM11 million a year earlier, due mainly to the gain on disposal of a subsidiary amounting to RM221.2 million.

It said on Tuesday that revenue for the quarter rose 49.7% to RM75.82 million from RM50.64 million in 2010.

Earnings per share for the quarter under review jumped to 38.91 sen from 1.80 sen, while net assets per share was RM2.32.

The company declared a gross second interim dividend of half a sen and 9.50 sen single tier per ordinary share, to be paid Jan 18, 2012.

For the nine months ended Oct 31, Goldis posted net profit RM267.45 million compared to RM25.46 million in 2010, while revenue for the quarter increased to RM203.04 million from RM133.59 million.

Reviewing its performance, Goldis said the increase in revenue for the period was due to higher contribution from its property, ICT, paper and hotel segment.

On its prospects, the company said its performance for the financial year ending Jan 31, 2012 would be satisfactory.



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