In Brief

Mintye 3Q net profit up 43%

KUALA LUMPUR: Mintye Industries Bhd’s 3QFY12 ended October net profit rose 43% from a year earlier as the automotive brake pad manufacturer raked in higher sales despite registering higher selling and administration expenses.

Net profit came in at RM1.72 million or 2.83 sen a share for 3QFY12 against RM1.2 million or 1.98 sen a year ago. Revenue rose 21% to RM15.07 million from RM12.49 million previously.

Sequentially, net profit and revenue fell 19% and 2.6%, respectively.

Its cumulative nine-month net profit rose 3% to RM5.12 million from RM3.94 million a year ago as revenue rose 14% to RM43.39 million from RM38.1 million.

Alam Maritim lands Shell job

KUALA LUMPUR: Oil and gas support services company Alam Maritim Resources Bhd has secured a RM29.8 million job from Sarawak Shell Bhd to instal offshore transport modules for the oil major.

In a statement yesterday, Alam Maritim said the nine-month contract commenced in the fourth quarter of this year and is expected to complete by May 2012. The contract is not renewable, but is expected to positively boost earnings and net tangible assets for FY11 ending Dec 31 and beyond, it said.

EONCap pays final dividend

KUALA LUMPUR : Recently de-listed EON Capital Bhd (EONCap) yesterday paid its shareholders a final tax-exempt special dividend of three sen a share, higher than the 2.45 sen apiece that it expected to pay shareholders late September.

The payout was on top of the special dividend and capital repayment made in June and September this year, totalling RM 7.76 per share, the company said in an emailed statement yesterday.

The payout followed the disposal of EONCap’s entire assets and liabilities, including EON Bank Group, to Hong Leong Bank Bhd last May. EONCap was delisted from Bursa Malaysia on Sept 27 this year.


This article appeared in The Edge Financial Daily, December 29, 2011.



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Asian markets remain in the red at mid-day on Eurozone jitters

KUALA LUMPUR (Dec 6): Asian markets extended their losses at mid-day on Tuesday, after Standard & Poor's warned that the credit ratings of top-rated European nations may be cut.

The rating agency’s warning brought to a halt a rally in global equities that began last week and had continued on Monday, when the leaders of France and Germany agreed a plan aimed at guiding the region out of its two-year-old crisis, according to Reuters.

The FBM KLCI was down 9.90 points to 1,480.05 at the mid-day break.

Market breadth was negative with losers leading gainers by 404 to 199, while 268 counters traded unchanged. Volume was 1.36 billion shares valued at RM616.77 million.

The ringgit weakened 0.19% to 3.1380 versus the US dollar; crude palm oil futures for the third month delivery fell RM23 per tonne to RM3,103, crude oil slipped 46 cents per barrel to US$100.53 while gold fell US$10.35 an ounce to US$1,712.65.

At the regional markets, Japan’s Nikkei 225 fell 1.23% to 8,588.66, Hong Kong’s Hang Seng Index lost 1.51% to 18,889.76, Taiwan’s Taiex was down 1.2% to 7,012.63, South Korea’s Kospi lost 0.98% to 1,904.11, Singapore’s Straits Times Index fell 0.97% to 2,739.37 and the Shanghai Composite Index shed 0.78% to 2,315.12.

On Bursa Malaysia, KLK fell 34 sen to RM21.64, Batu Kawan and Nestle lost 20 sen each to RM16.90 and RM53, Aeon and Hong Leong Bank down 14 sen each to RM7.21 and RM10.70, CIMB fell 13 sen to RM7.08 while Proton lost 11 sen to RM4.39.

Among the gainers, Dutch Lady added 20 sen to RM25.10, Orient 19 sen to RM4.67, Tradewinds PLANTATION []s 13 sen to RM4.55, United Plantations 12 sen to RM18.48, UM Land 11 sen to RM1.53, Mintye and LPI Capital up 10 sen each to RM1.30 and RM13, Muda 8.5 sen to 95.5 sen and Nylex eight sen to 63 sen.

Utopia was the most actively traded counter with 115.4 million shares done. The stock added two sen to 12 sen.

Other actives included Sanichi, Compugates, Proton securities and DRB-Hicom securities.



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