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.
Post a Comment