OSK Property Holdings Bhd advanced 9 per cent to RM1.33 as of 9:32 a.m. in Kuala Lumpur, set for its biggest gain since May 27. The property developer plans a bonus share issue and a rights offer with free warrants, it said in a statement. -- Bloomberg
Showing posts with label OSKPROP (6661). Show all posts
Showing posts with label OSKPROP (6661). Show all posts
Monday, 19 March 2012
Stocks to watch EP Manufacturing, Pharmaniaga, telcommunications, OSK Property
KUALA LUMPUR (March 17): Shares at the local stock market are expected to trend higher next week in line with the improved sentiment at global markets,
Global stocks advanced on Friday, with a benchmark U.S. equity index trading above an important level reached earlier this week, after news of subdued inflation bolstered investment sentiment and helped fuel a retreat in government debt markets, according to Reuters.
A report on U.S. consumer prices in February eased a hawkish view on interest rates, leading the dollar to fall and helping spur the sell-off in bonds. Improving U.S. economic data had recently sparked speculation the Federal Reserve would raise rates sooner than its time frame of late 2014, it said.
The Dow Jones industrial average was down 5.34 points, or 0.04 percent, at 13,247.42. The Standard & Poor's 500 Index was up 1.24 points, or 0.09 percent, at 1,403.84. The Nasdaq Composite Index was down 1.60 points, or 0.05 percent, at 3,054.77.
Affin Investment Bank vice president and head of retail research Dr Nazri Khan said the FBM KLCI was likely to trend higher on global equity upside momentum (FTSE All-World index at best level since August 2011), drop in oil price and strength in Wall Street (Dow Jones at best level since January 2008 following four year low weekly jobless claims, positive FOMC meeting comments and favorable bank stress test results).
Meanwhile, MIDF Research head of equity Syed Muhammed Kifni said foreign buying of Bursa-listed shares continued unrelenting this past week.
“Bursa data shows that foreign investors had been net buyers for 20 consecutive trading days until last Thursday, and we expect a continuation of the “risk-on” mood in the coming week,” he said.
Syed Muhammed said that in the US, a spate of housing numbers were scheduled to be announced next week and consensus expectations were pointing towards further improvements in the housing sector.
On the domestic front, the CPI number due for release in the middle of next week might also potentially be a key market mover, he said
He said the local inflation barometer was expected to further decline from the 2.7% year-on-year recorded in the earlier month.
“Hence barring ominous developments either internally or from the external front, we are sanguine on the ability of the KLCI to retest its all-time high of 1,597 points.
“Technically, we pegged the resistance and support levels for KLCI next week at 1,600 points and 1,560 points respectively,” he said.
Among the stocks that could be in focus on Bursa Malayssia are EP MANUFACTURING BHD [], PHARMANIAGA BHD [], telecommunications, OSK PROPERTY HOLDINGS BHD [].
EPMB is acquiring highway concession owner Maju Expressway Sdn Bhd for RM1.15 billion as part of its plan tp expand its highway concession business.
The move will see EPMB, an automotive parts manufacturer making a foray into the toll road business, and roping in new shareholders into the company.
The firm will acquire Maju Expressway from Bright Focus Sdn Bhd and Ulimas Sdn Bhd under a cash and stock deal. Bright Focus is a unit under the Maju Group of Companies.
Telcos could be infocus after the Malaysian Communications and Multimedia Commission (MCMC) said that it has not issued a memo to telecommunication industry players instructing them to be prepared for a proposed six per cent tax on prepaid phone subsribers.
The telecommunications regulator issued this clarification la Friday following a news report on a Hong Leong Investment Bank Research note on prospects for the local telecommunications industry.
Pharmananiaga plans to expand its market in the Middle East and Southeast Asia, particularly, Saudi Arabia, Indonesia, Myanmar and Vietnam.
Its chairman Tan Sri Lodin Wok Kamaruddin said the company was looking for growth opportunities in these countries including through mergers and acquisitions.
“We are exploring opportunities in Saudi Arabia as it is a growing market,” he sid last week.
OSK Property will raise some RM 24 million from a proposed rights issue which comes with free detachable warrants to finance its capital needs. Subscribers of the rights shares will also be entitled to bonus units from the company.
Global stocks advanced on Friday, with a benchmark U.S. equity index trading above an important level reached earlier this week, after news of subdued inflation bolstered investment sentiment and helped fuel a retreat in government debt markets, according to Reuters.
A report on U.S. consumer prices in February eased a hawkish view on interest rates, leading the dollar to fall and helping spur the sell-off in bonds. Improving U.S. economic data had recently sparked speculation the Federal Reserve would raise rates sooner than its time frame of late 2014, it said.
The Dow Jones industrial average was down 5.34 points, or 0.04 percent, at 13,247.42. The Standard & Poor's 500 Index was up 1.24 points, or 0.09 percent, at 1,403.84. The Nasdaq Composite Index was down 1.60 points, or 0.05 percent, at 3,054.77.
Affin Investment Bank vice president and head of retail research Dr Nazri Khan said the FBM KLCI was likely to trend higher on global equity upside momentum (FTSE All-World index at best level since August 2011), drop in oil price and strength in Wall Street (Dow Jones at best level since January 2008 following four year low weekly jobless claims, positive FOMC meeting comments and favorable bank stress test results).
Meanwhile, MIDF Research head of equity Syed Muhammed Kifni said foreign buying of Bursa-listed shares continued unrelenting this past week.
“Bursa data shows that foreign investors had been net buyers for 20 consecutive trading days until last Thursday, and we expect a continuation of the “risk-on” mood in the coming week,” he said.
Syed Muhammed said that in the US, a spate of housing numbers were scheduled to be announced next week and consensus expectations were pointing towards further improvements in the housing sector.
On the domestic front, the CPI number due for release in the middle of next week might also potentially be a key market mover, he said
He said the local inflation barometer was expected to further decline from the 2.7% year-on-year recorded in the earlier month.
“Hence barring ominous developments either internally or from the external front, we are sanguine on the ability of the KLCI to retest its all-time high of 1,597 points.
“Technically, we pegged the resistance and support levels for KLCI next week at 1,600 points and 1,560 points respectively,” he said.
Among the stocks that could be in focus on Bursa Malayssia are EP MANUFACTURING BHD [], PHARMANIAGA BHD [], telecommunications, OSK PROPERTY HOLDINGS BHD [].
EPMB is acquiring highway concession owner Maju Expressway Sdn Bhd for RM1.15 billion as part of its plan tp expand its highway concession business.
The move will see EPMB, an automotive parts manufacturer making a foray into the toll road business, and roping in new shareholders into the company.
The firm will acquire Maju Expressway from Bright Focus Sdn Bhd and Ulimas Sdn Bhd under a cash and stock deal. Bright Focus is a unit under the Maju Group of Companies.
Telcos could be infocus after the Malaysian Communications and Multimedia Commission (MCMC) said that it has not issued a memo to telecommunication industry players instructing them to be prepared for a proposed six per cent tax on prepaid phone subsribers.
The telecommunications regulator issued this clarification la Friday following a news report on a Hong Leong Investment Bank Research note on prospects for the local telecommunications industry.
Pharmananiaga plans to expand its market in the Middle East and Southeast Asia, particularly, Saudi Arabia, Indonesia, Myanmar and Vietnam.
Its chairman Tan Sri Lodin Wok Kamaruddin said the company was looking for growth opportunities in these countries including through mergers and acquisitions.
“We are exploring opportunities in Saudi Arabia as it is a growing market,” he sid last week.
OSK Property will raise some RM 24 million from a proposed rights issue which comes with free detachable warrants to finance its capital needs. Subscribers of the rights shares will also be entitled to bonus units from the company.
Friday, 16 March 2012
OSK Property to raise RM24 million from rights issue
KUALA LUMPUR (March 16) : OSK PROPERTY HOLDINGS BHD [] will raise some RM 24 million from a proposed rights issue which comes with free detachable warrants to finance its capital needs. Subscribers of the rights shares will also be entitled to bonus units from the company.
In a statement to the exchange on Friday, OSK Property said the rights issue will involve up to 23.74 million new shares in the company at an indicative price of RM1 each.
OSK Property said the exercise will be undertaken on the basis of one rights share for every ten existing units held while the 71.21 million free warrants will be distributed on the basis of three warrants for every one rights unit held.
The real estate developer also plans to distribute 47.48 million bonus shares on the basis of two bonus units for every one rights share held.
In a statement to the exchange on Friday, OSK Property said the rights issue will involve up to 23.74 million new shares in the company at an indicative price of RM1 each.
OSK Property said the exercise will be undertaken on the basis of one rights share for every ten existing units held while the 71.21 million free warrants will be distributed on the basis of three warrants for every one rights unit held.
The real estate developer also plans to distribute 47.48 million bonus shares on the basis of two bonus units for every one rights share held.
Thursday, 8 March 2012
HDBSVR expects market sentiment to perk up
KUALA LUMPUR (March 8): HwangDBS Vickers Research expects the key regional markets including Bursa Malaysia to perk up on Thursday following the firmer overnight close on Wall Street.
On Wall Street, stocks closed higher on Wednesday following better employment data in the U.S. and news that Greece’s debt-exchange deal with private bond holders is gathering pace. The key indices on Wall Street jumped between 0.6% and 0.9%.
“The positive vibes from Wall Street is expected to lift sentiment in Asia today after the broad sell-off yesterday. Back home, the key FBM KLCI could stage a technical rebound following a decline of 15.1-point or 1.0% since Tuesday. On the chart, the benchmark index may attempt to cross above the support-turned-resistance level of 1,580 ahead,” it said.
HDBSVR said that hoping to ride on a market recovery are beaten down shares like Sime Darby.
Together with other PLANTATION [] companies, they should benefit from a firm CPO price outlook, as forecasted by industry experts at the Palm & Lauric Oils Conference that ended yesterday.
Separately, OSK Property may attract interest after acquiring two pieces of land in Shah Alam for RM45 million while MALAYSIA SMELTING CORPORATION [] could be hit by news that Indonesia want to limit foreign ownership of mines in the country.
On Wall Street, stocks closed higher on Wednesday following better employment data in the U.S. and news that Greece’s debt-exchange deal with private bond holders is gathering pace. The key indices on Wall Street jumped between 0.6% and 0.9%.
“The positive vibes from Wall Street is expected to lift sentiment in Asia today after the broad sell-off yesterday. Back home, the key FBM KLCI could stage a technical rebound following a decline of 15.1-point or 1.0% since Tuesday. On the chart, the benchmark index may attempt to cross above the support-turned-resistance level of 1,580 ahead,” it said.
HDBSVR said that hoping to ride on a market recovery are beaten down shares like Sime Darby.
Together with other PLANTATION [] companies, they should benefit from a firm CPO price outlook, as forecasted by industry experts at the Palm & Lauric Oils Conference that ended yesterday.
Separately, OSK Property may attract interest after acquiring two pieces of land in Shah Alam for RM45 million while MALAYSIA SMELTING CORPORATION [] could be hit by news that Indonesia want to limit foreign ownership of mines in the country.
Wednesday, 7 March 2012
OSK Property to buy 13.7 acres of Shah Alam industrial land for RM45.4m
KUALA LUMPUR (Macrh 7): OSK PROPERTY HOLDINGS BHD [] has proposed to acquire two parcels of adjoining industrial land, measuring 13.73 acres or 598,408 sq. ft in Taman Perindustrian Subang Utama for RM45.42 million.
It said on Wednesday it was acquiring the land from Perniagaan Sri Mujur Maju Sdn Bhd at about RM75.90 per sq ft.
“The land has been approved with development order for 16 semi-detached factories with land sizes and built-up ranging from 17,900 sq ft to 50,800 sq ft and 14,896 sq ft to 60,076 sq ft respectively,” it said.
OSK Property said based on preliminary plans, it proposed to revise and enhance the development plan by offering smaller industrial units to increase affordability and saleability.
It said the proposed acquisition would enable OSK Property to diversify its development portfolio to include small medium industrial factories and to expand its geographical coverage to Shah Alam.
It added there was a demand for supplementary services and smaller semi-detached factories costing RM2 million to RM3 million per unit.
“Subject to the necessary development approvals being obtained, the group targets to launch the development on the land by the fourth quarter of 2012,” it said.
It said on Wednesday it was acquiring the land from Perniagaan Sri Mujur Maju Sdn Bhd at about RM75.90 per sq ft.
“The land has been approved with development order for 16 semi-detached factories with land sizes and built-up ranging from 17,900 sq ft to 50,800 sq ft and 14,896 sq ft to 60,076 sq ft respectively,” it said.
OSK Property said based on preliminary plans, it proposed to revise and enhance the development plan by offering smaller industrial units to increase affordability and saleability.
It said the proposed acquisition would enable OSK Property to diversify its development portfolio to include small medium industrial factories and to expand its geographical coverage to Shah Alam.
It added there was a demand for supplementary services and smaller semi-detached factories costing RM2 million to RM3 million per unit.
“Subject to the necessary development approvals being obtained, the group targets to launch the development on the land by the fourth quarter of 2012,” it said.
Friday, 25 November 2011
The Atria SOFO suites taken up in a day
PETALING JAYA: Property developer OSK Property Holdings Bhd’s The Atria in Damansara Jaya is off to a running start. It sold off all of its The Atria SOFO (Small Office Flexible Office) suites on the first day of launch last Friday.
Eager purchasers lined up at the sales gallery on the eve of the launch, hoping to be the first buyers. The Atria SOFO suites are one of the components of the new The Atria project which replaces the old Atria Shopping Centre, one of the oldest shopping centres in Petaling Jaya. Demolition began in August this year.
Besides the SOFOs, The Atria integrated development also comprises a shopping gallery with a gross floor area of 600,000 sq ft and a net lettable area of 450,000 sq ft, including an entertainment facility.
The 5.5-acre freehold project has a gross development value (GDV) of close to RM1 billion. Currently, only the SOFO suites are for sale as plans for the shopping gallery are still being finalised. The suites are flexible and can be utilised either as work or living space.
The 392 units of SOFO are housed in two 16-storey towers above the retail floors and have a total GDV of RM200 million. Built-ups range from 488 to 1,343 sq ft. Prices range from RM360,800 to RM1 million or RM720 to RM1,000 per sq ft.
The facilities at The Atria SOFO suites include a lap pool, jacuzzi, gymnasium, sun deck, sauna, meeting room, sky lounge and garden. The basic units are fitted with air-conditioning and heater points. There are 1,959 parking bays.
Emily Cheng, OSK Property senior public relations and communications executive, said at the launch that the developer was confident the units would be fully sold in three days. But the units were 100% taken up by 4.30pm on the first day of launch. The purchasers were a mixture of investors and owner-occupiers.
“Homebuyers and investors are very selective given the global economic conditions. But property developments in good locations are still very hot,” she said.
During the launch, purchasers were given an early bird rebate. Construction will begin next month and is expected to be completed in 36 months.
This article appeared in The Edge Financial Daily, November 25, 2011.
Eager purchasers lined up at the sales gallery on the eve of the launch, hoping to be the first buyers. The Atria SOFO suites are one of the components of the new The Atria project which replaces the old Atria Shopping Centre, one of the oldest shopping centres in Petaling Jaya. Demolition began in August this year.
Besides the SOFOs, The Atria integrated development also comprises a shopping gallery with a gross floor area of 600,000 sq ft and a net lettable area of 450,000 sq ft, including an entertainment facility.
The 5.5-acre freehold project has a gross development value (GDV) of close to RM1 billion. Currently, only the SOFO suites are for sale as plans for the shopping gallery are still being finalised. The suites are flexible and can be utilised either as work or living space.
Eager purchasers looking at a model of The Atria during the launch.
The 392 units of SOFO are housed in two 16-storey towers above the retail floors and have a total GDV of RM200 million. Built-ups range from 488 to 1,343 sq ft. Prices range from RM360,800 to RM1 million or RM720 to RM1,000 per sq ft.
The facilities at The Atria SOFO suites include a lap pool, jacuzzi, gymnasium, sun deck, sauna, meeting room, sky lounge and garden. The basic units are fitted with air-conditioning and heater points. There are 1,959 parking bays.
Emily Cheng, OSK Property senior public relations and communications executive, said at the launch that the developer was confident the units would be fully sold in three days. But the units were 100% taken up by 4.30pm on the first day of launch. The purchasers were a mixture of investors and owner-occupiers.
“Homebuyers and investors are very selective given the global economic conditions. But property developments in good locations are still very hot,” she said.
During the launch, purchasers were given an early bird rebate. Construction will begin next month and is expected to be completed in 36 months.
This article appeared in The Edge Financial Daily, November 25, 2011.
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