DRB Hicom: Proton received 11,310 units booking for Proton Preve model since its launch two months ago

In just two months after launch, Proton Prevé has commanded a total booking of 11,310 units, making it the most popular 1.6-litre sedan in the market.

"With more than 10,000 Prevé booked to date, and with the numbers increasing every day, it has quickly established itself as the consumer's preferred choice of compact sedan," said Proton Holdings Bhd Executive Chairman Datuk Seri Mohd Khamil Jamil.

"This is a very positive sign for us and further proof that Proton can engineer and manufacture world class products," he said.

A total of almost 1,000 units were booked by eager customers as early as March, a month before the launch while another 4,893 units were booked in the month of April, he said.

"It was a vehicle that was eagerly anticipated by the market and continues to be well received, not only because it is affordable and offers owners a low cost of ownership, but excels in the terms of styling, performance, safety and equipment level," Mohd Khamil said.

The Prevé was officially launched on April 16 and is offered in three variants. The Premium with 1.6 charged fuel efficiency or CFE (turbocharged) engine mated to Proton's 7-speed ProTronic CVT, and two Executive variants utilising the 6-speed CVT transmission, and 5-speed manual transmission – both coupled with the IAFM+ engine.

The all-new Proton Prevé can be viewed and test driven at all authorised Proton showrooms nationwide. -- Bernama

Source: www.btimes.com.my

Starhill Real Estate Investment Trust (Starhill REIT) acquires the Sydney Harbour Marriott Hotel, Brisbane Marriott Hotel and Melbourne Marriott Hotel from Commonwealth Managed Investments Ltd, 30 Pitt Street Pty Ltd, 515 Queen Street Pty Ltd and Lonex Pty Ltd in Australia for A$415mil (RM1.3bil) cash

Starhill Real Estate Investment Trust (Starhill REIT) is acquiring the hotel properties and business assets of three Marriott hotels in Australia for A$415mil (RM1.3bil) cash.

YTL Corporation Bhd managing director Tan Sri Francis Yeoh Sock Ping said on Wednesday the acquisition of these hotels would enlarge the trust's portfolio to about RM3bil from RM1.58bil now.

Starhill REIT had on Wednesday inked the agreements to acquire the Sydney Harbour Marriott Hotel, Brisbane Marriott Hotel and Melbourne Marriott Hotel from Commonwealth Managed Investments Ltd, 30 Pitt Street Pty Ltd, 515 Queen Street Pty Ltd and Lonex Pty Ltd.

Yeoh, who is also CEO of Pintar Projek Sdn Bhd, the manager of Starhill REIT, said the acquisitions would result in more than half of Starhill REIT's property value constituted by its hotel assets in Australia and Japan.

He said the acquisitions would make this the largest portfolio of overseas property investments of any Malaysian REIT.

"The acquisition represents a yield accretive opportunity for the trust, generating two income streams, firstly, stable fixed lease rentals arising from its existing property portfolio and, secondly, variable income from the three Marriott hotels, increasing the potential for distribution per unit growth and variations.

Source: www.thestar.com.my

The Employees Provident Fund (EPF) has emerged as a substantial shareholder in YNH Property Bhd with an effective interest of 5.04%, bought 20.74 million of YNH's shares on June 6

The Employees Provident Fund (EPF) has emerged as a substantial shareholder in YNH Property Bhd with an effective interest of 5.04% in the property company.

The EPF bought 20.74 million of YNH's shares on June 6, circulars issued to Bursa Malaysia showed.

Scotland-based Aberdeen Asset Management PLC had also acquired an additional 588,500 shares of YNH on June 5, increasing its stakes to 12.81%, documents showed.

Source: www.thestar.com.my

Exports of natural rubber fell 33.6% year-on-year and 5.9% month-on-month to 65,778 tonnes in April

The production of natural rubber in April fell by 4,569 tonnes (7% year-on-year) to 60,888 tonnes.

Compared with March, production fell by 6,488 tonnes (9.6% month-on-month).

According to the Statistics Department, the level of stocks in April was 118,214 tonnes, which meant a decrease of 6.4% year-on-year and 17.2% month-on-month.

Meanwhile, exports of natural rubber fell 33.6% year-on-year and 5.9% month-on-month to 65,778 tonnes in April.

The main export destinations were China (40.2%), followed by Germany (13.6%), South Korea (4.5%), Brazil (3.9%), Portugal (3.4%), the United States (2.9%), Netherlands (2.8%), Finland (2.3%) and UK (2.0%).

However, imports of natural rubber in April increased by 15,066 tonnes (32.6%) year-on-year to 61,245 tonnes.

In terms of month-on-month comparison, there was a decrease in imports by 3,596 tonnes (5.5%). Almost half of the total imports comprised latex concentrate (43.6%).

Natural rubber was imported mainly from Thailand (65.8%), followed by Vietnam (8.3%), the Philippines (5.4%) and Myanmar (3.5%).

As for the domestic consumption of natural rubber in April, this increased 11.8% or 3,799 tonnes year-on-year to 35,979 tonnes.

However, month-on-month, domestic consumption of natural rubber dropped 3,224 tonnes (8.2%) in April.

In April, the overall average monthly price of natural rubber showed a decrease.

The average price of latex concentrate was recorded at 751.87 sen, and had dropped 31.04 sen (4.0%) from the previous month,

whereas year-on-year, the average price of latex concentrate was reduced by 292.73 sen (28%).

The average price of Standard Malaysian Rubber 20 that was recorded at 1,100.47 sen, also dropped 19.78 sen (1.8%) and 389.91 sen (26.2%) when compared with the previous month and year.

Source: www.thestar.com.my

Astro IPO in the works?

Malaysian tycoon Ananda Krishnan has mandated CIMB Investment Bank to advise him on the initial public offering (IPO) of Astro All Asia Networks plc in a deal expected to raise around US$1 billion (RM3.17 billion), in the fourth quarter, a source with direct knowledge of the deal said yesterday.

The IPO plan by Ananda, Malaysia's second-richest man, comes on the heels of a US$2.8 billion sale of his power assets and proposal to hive off a stake in his satellite operator Measat Global in March.

The listing of pay-TV firm Astro will consist only its domestic operation rather than a combination of both the domestic and overseas operations, said the source, who declined to be named as the talks are private.

"Other banks haven't come on board yet," the source said.

"And the listing won't happen that early, likely to be around the fourth quarter of this year."

Astro officials declined to comment when contacted.

The IPO could well become the third largest in Malaysia this year after palm oil giant Felda Global Ventures Holdings Bhd's US$3.4 billion deal and IHH Healthcare Bhd's US$2 billion planned flotation.

Malaysia's IPO market has defied a trend in other financial markets such as Singapore, where motor racing firm Formula One decided to postpone its near US$3 billion IPO due to volatile markets.

Shares of Gas Malaysia Bhd rose as much as 15 per cent in their debut trading yesterday after a US$230 million listing, overcoming negative sentiment surrounding a slump in global market flotations.

CIMB led Astro's delisting in 2010, in a deal that valued it at around US$2.8 billion. The investment bank also handled its original IPO in 2003, along with Goldman Sachs, DBS and UBS. Reuters

Source: www.btimes.com.my

Malaysia Airlines (MAS) announces code-share arrangement with Japan Airlines (JAL)

Malaysia Airlines (MAS) is targeting to complete code-sharing arrangements with four more oneworld member airlines, a day after announcing the signing of similar agreement with another member of the global alliance, Japan Airlines (JAL).

To date, MAS has signed 23 code-sharing agreements with various airlines and is looking at signing more as a strategy to extend its reach without having to mount its own flights.

The national carrier is now in discussion to have code-sharing arrangement with oneworld members, namely American Airlines, British Airways, Qantas and Finnair.

"Discussion with Finland's Finnair is closing and the code-sharing agreement may be concluded by year-end," MAS senior vice-president of international affairs Germal Singh Khera told Malaysian reporters here.

MAS announced the agreement with JAL at a press conference held on the sidelines of the two-day International Air Transport Association (IATA) annual general meeting, which started here yesterday.

A code-share agreement is an aviation business arrangement where two or more airlines share the same flight. A seat can be purchased on one airline but is actually operated by a cooperating airline under a different flight number or code.

Under the code-share, which will commence on July 1, JAL will begin marketing MAS flights between Malaysia and Japan, as well as five other domestic points and seven regional destinations such as Bangalore, Chennai, Hyderabad and Mumbai.

Conversely, MAS will place its flight indicator MH on JAL-operated flights connecting Tokyo (Narita) and Fukuoka, Nagoya and Sapporo in Japan, as well as to nine international cities including Hong Kong, Taipei, Seoul, Guam, Honolulu and across the Pacific to Boston, Chicago and New York.

Covering up to 347 weekly flights of 51 sectors, the selling of the MAS-JAL code-share service will begin today. The code-share on the Malaysia-Japan trunk route covers MAS' 11 times weekly Kuala Lumpur-Tokyo return flights and the six times weekly Kuala Lumpur-Osaka return flights as well as JAL's daily Tokyo-Kuala Lumpur return flights.

"The code-share between Malaysia and Japan will offer the travelling public in both countries more choices of flight. It will offer flexibility to passengers as under the code-share, the frequency of flights is effectively increased," Germal said.

MAS head of commercial Dr Hugh Dunleavy, who represented the national carrier in exchanging aircraft models with JAL's chairman Masaru Onishi as a symbolic gesture of the code-share, said it is on track to become a full member of oneworld by year-end.

"As much as we want to sign code-share agreements with more oneworld members, our focus now is to ensure that we become a full member of the alliance by year-end," he said.

Meanwhile, in a statement released here, MAS group chief executive officer (CEO) Ahmad Jauhari Yahya said the partnership with JAL provides the national carrier the opportunity to expand its reach without having to mount its own flights to cities in Japan and beyond in North Asia and the US.

"This code-share is expected to greatly contribute towards increased tourist arrivals into Malaysia. As one of the most affordable tourist destinations in the Asia Pacific region, we are confident that more tourists from other parts of Japan will take the opportunity to use this code-share and visit Malaysia."

Earlier, when opening the meeting, IATA director- general and Tony Tyler said the global airline industry profits for 2012 are projected to be US$3 billion (RM9.5 billion), unchanged from the last update in March.

While the recent fall in oil prices, stronger-than-expected growth in passenger traffic and a bottoming out of the freight market are driving improvements in the outlook, these are being offset by the deepening European sovereign debt crisis, he said.

Source: www.btimes.com.my

Gas Malaysia rose 15% to day-high of RM 2.52 and closed at RM 2.42 on first day trading, 87 million shares traded

Gas Malaysia Bhd, an energy distributor linked to Malaysian billionaire Syed Mokhtar Al-Bukhary, jumped on its first day of trading in Kuala Lumpur today after completing the Southeast Asian nation’s biggest share sale so far this year.

The stock surged as much as 15 per cent to RM2.52 from an IPO price of RM2.20, the second-strongest debut in Malaysia this year. It pared gains to close at RM2.42 and was the exchange’s most-active counter with 87 million shares changed hands.

“This is one of the major oil and gas IPOs,” said Teh Kian Yeong, an analyst at K&N Kenanga Holdings Bhd in Kuala Lumpur by phone. “Its share price was also supported by above-average dividend yield.”

Its RM734 million offering comes amid a resurgence in Malaysian share sales, even as volatility in global stock markets has seen offerings delayed or canceled elsewhere. Oil palm planter Felda Global Ventures Holdings Bhd drew orders from institutional investors for more than 15 times the stock available to them in its RM10.5 billion offering this month, two people with knowledge of the matter said June 7.

IHH Healthcare Bhd, Asia’s biggest hospital operator, plans to raise more than RM6 billion in an initial public offering in Kuala Lumpur, two people familiar with the matter said on June 1. Six other companies also currently have prospectuses posted with the Securities Commission for public disclosure.

Others Delayed

Malaysian stocks have withstood the global selloff, with the KLCI index little changed last month compared with a 10 per cent drop in the MSCI Asia Pacific Index. EITA Resources Bhd, an elevator manufacturer, made this year’s strongest debut, rising almost 16 per cent on its first day of trading.

Gas Malaysia, which counts Syed Mokhtar’s MMC Corp as its biggest shareholder, is the sole licensed seller of natural gas in Peninsular Malaysia, according to its listing document. The Selangor-based company also has rights to supply liquefied petroleum gas.

It plans to pay at least 75 per cent of profit as dividends from 2013, according to the prospectus. The company intends to distribute all the earnings net of tax this year as dividend, Gas Malaysia said.

Malayan Banking Bhd managed the share sale, helped by Bank Muamalat Malaysia Bhd and Kenanga Investment Bank Bhd.

Graff Diamonds Corp, the London-based jeweler, and China Yongda Automobiles Services Holdings Ltd. shelved share sales in Hong Kong last month. Formula One Chief Executive Officer Bernie Ecclestone said June 2 the auto racing series’ planned Singapore offering may not take place until later this year because of time pressures and a volatile equity market. -- Bernama

Source: www.btimes.com.my

Gas Malaysia Bhd opened at RM2.47, which was 27 sen above its offer price of RM2.20 when it made its debut on the Main Market of Bursa Malaysia on Monday.

At 9.01am, it was up 26 sen to RM2.46. There were 13.79 million shares done.

The FBM KLCI jumped 9.65 points to 1,580.27. Turnover was 21.97 million shares valued at RM45.88mil. There were 80 gainers, 17 losers and 48 stocks unchanged.

Under Gas Malaysia's initial public offering, 25.68 million shares were offered to the public, which was oversubscribed by 21.64 times. The institutional offering of 303.31 million shares was offered to institutions at RM2.20 per share.

A total of 44,561 applications for 581,390,300 Offer Shares were received from the Malaysian Public for a total of 25,680,000 Offer Shares available for public subscription, which represents an oversubscription rate of 21.64 times.

Last Thursday, it reported that its earnings fell 53.5% to RM34.54mil in the first quarter ended March 31, 2012 from RM74.41mil a year ago as its profit was affected by margin compression. Its revenue increased 9.2% to RM506.58mil from RM464.06mil.

Source: www.thestar.com.my

Yinson Holdings Bhd has sealed a US$737.30mil (RM2.35bil) agreement with Petrovietnam Technical Services Corporation to provide a floating production, storage and off-loading over a 10 year period

Yinson Holdings Bhd has sealed a US$737.30mil (RM2.35bil) agreement with Petrovietnam Technical Services Corporation to provide a floating production, storage and off-loading (FPSO) unit.

Yinson said on Monday the agreement involved the engineering, procurement, construction and installation (EPCI) and also a bareboat charter contract.

The indicative value of the bareboat charter contract was for seven years with an option to extend on an annual basis for another three years.

"The total contract value is US$737.30mil (RM2.35bil) for 10 years (US$516.11mil or RM1.65bil) for the firm period and US$221.19mil (RM705.49mil) for the extension period)," it said.

Source: www.thestar.com.my

Octagon Consolidated Bhd defaulted on the credit facility extended by Amanah Raya Capital Sdn Bhd, now classified as PN 17

Octagon Consolidated Bhd's share price fell sharply on Monday after it was declared an affected listed when it defaulted on the credit facility extended by Amanah Raya Capital Sdn Bhd.

At 11.25am, it was down four sen to 4.5 sen. There were 4.79 million shares done.

However, the FBM KLCI was up 9.03 points to 1,579.65. Turnover was 260.99 million shares valued at RM406.51mil. There were 277 gainers, 196 losers and 247 counters unchanged.

Last Friday, Octagon announced had defaulted on the payment and it expected this would have substantial impact on its business, operations and financials of Octagon.

It cautioned the coatings business turnover might be reduced as existing customers could defer new orders.

Other factors were that the material suppliers might request for cash payments for purchases while debtors might likely to prolong the payment of receivables and bankers may recall of existing trade facilities.

Since it has been classified as a Practice Note 17, it had to announce within three months whether the regularisation plan would result in a significant change in its business direction or policy.

Source: www.thestar.com.my

Rollover overdue trades got dealer's representative fined RM 10,000 and reprimanded

Bursa Malaysia Securities Bhd has publicly reprimanded a dealer's representative Peer Mohd Abdul Aleez and also fined him RM10,000 for false trade trading activities.

It said on Monday that Peer Mohd was also suspended for three months for false trading activities involving the securities of Excel Force MSC Bhd and LNG Resources Bhd in his two clients' accounts.

It said Peer Mohd, was a commissioned dealers' representative of Inter-Pacific Securities Sdn Bhd at its Johor Bahru branch when he committed the offences.

Bursa Securities said he had executed trades in the securities of Excel Force and LNG in his two clients' accounts, which did not involve any change in the beneficial ownership.

He had first entered sell orders in his clients' accounts. Within a short span of time, most of which were less than a minute, he had entered the corresponding buy orders for the same clients' accounts to buy from the sell orders entered by him earlier, resulting in the matching of his buy and sell orders.

It said Peer Mohd executed the trades to rollover the trades to the next trading cycle to prolong the holding period. In some instances, he had executed trades to rollover all overdue trades to the next trading cycle, which were repeated in the clients' accounts for several months.

Bursa Securities said although these trades were not significant vis-a-vis the overall market impact and/or price impact, his false trading was to maintain or raise the prevailing market price of the two counters.

"His actions gave rise to the false or misleading appearance of the securities, and did not reflect the fair and orderly dealing activities," it said.

Source: www.thestar.com.my