Daily Archives: March 26, 2016

26Mar
BURSA1

Malaysia : Imbalances in certain segments

Kuala Lumpur :

  • IN its annual report 2015, Bank Negara highlighted in a boxed article the uneven growth in key sub-segments of the Malaysian property market in recent times.
  • The 10-page article underscores the serious issues facing the residential, office and retail markets, which, if left unchecked, could impact the overall economy.
  • It dealt with the crux of the issues, their challenges and made suggestions. Some of these resolutions are not entirely new, they have been brought up by different quarters over the years, but have yet to be seriously studied by the relevant parties, much less acted on.
  • Against the broad issues facing the local property market today, experiences from other economies and how Malaysia may benefit from these were highlighted. The report delved at length on key locations like Kuala Lumpur, Selangor, Johor and Penang.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

26Mar
BURSA

Bursa Malaysia : Turiya sues John Hopkins over terminated medical university deal

KUALA LUMPUR :

  • Turiya Bhd and Chase Perdana Sdn Bhd are suing US-based Johns Hopkins University and its medical education unit Johns Hopkins Medicine International LLC over their 2014 pull-out from a project to set up a medical university and manage a medical degree programme in Malaysia.
  • Turiya, an industrial machinery manufacturer and property investment firm, told Bursa Malaysia that it and Chase Perdana were claiming for general damages, aggravated damages, interests, costs, and any other relief the court deemed fit and appropriate.
  • “The suit is premised upon inter alia the defendants’ breach of contract and/or misrepresentation arising from a collaboration between Turiya and Chase Perdana Sdn Bhd with the defendants towards the establishment of a newly developed medical university, research centre and teaching hospital in Kuala Lumpur, Malaysia and the management of a Johns Hopkins affiliated graduate programme thereat,” it said.
  • To recap, Academic Medical Centre Sdn Bhd (AMC) – which is majority owned by Chase Perdana and the rest by Turiya – signed an agreement with Johns Hopkins University (Baltimore, Maryland), the John Hopkins University School of Medicine and Johns Hopkins Medicine International in November 2010 to develop the four-year graduate medical school and teaching hospital.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

26Mar
bursa-malaysia-360x270

Bursa Malaysia : Tobacco firms say industry in major crisis, call for excise freeze

KUALA LUMPUR:

  • Tobacco manufacturers are appealing to the Government to suspend any further excise duty increase to allow the market to stabilise.
  • In a statement on Friday, the Confederation of Malaysian Tobacco Manufacturers (CMTM) said the industry was facing a major crisis following the “drastic” excise increase of about 40% in November last year to 40 sen per stick.
  • “Legal industry volumes have been severely impacted, registering a significant decline by approximately 30% post the unprecedented excise increase. This would mean that excise revenue collection would be considerably lower than before November 2015,” it said.
  • “The industry is already at a tipping point and will not be able to withstand another excise increase this year. In the current operating environment where consumer sentiment is at a low, another round of excise increase will only produce a no-win situation for both the Government and the legitimate industry as consumers will switch to cheap unregulated illegal alternatives.”

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

26Mar
BURSA1

KLSE : Bursa highlights for Friday

Bursa highlights on March 25 :

  • Oil and gas heavyweight SapuraKencana Petroleum Bhd posted net losses of RM1.28bil in the latest fourth quarter ended Jan 31, 2016, pushing FY16 into the red, on impairments. The net losses were in stark contrast with earnings of RM129.13mil a year ago.
  • Mass Rapid Transit Corp Sdn Bhd has awarded the first viaduct work package for the MRT Sungai Buloh-Serdang-Putrajaya (SSP) Line, valued at RM1.44bil, toAhmad Zaki Resources Bhd’s unit.
  • Public Bank Bhd has received the 100% foreign-owned bank licence from the State Bank of Vietnam and will rename its existing joint-venture bank as Public Bank Vietnam Ltd.
  • Affin Holdings Bhd has received Bank Negara’s nod to negotiate to boost its stake in AXA Affin General Insurance Bhd (AAGI), in which it currently holds 34.51% equity interest.
  • Special purpose acquisition company Sona Petroleum Bhd has proposed a capital repayment of RM80mil assuming none of the shareholders at the March 30 EGM blocks its US$25mil purchase of Stag Oilfield in Australia.
  • Electronic manufacturing services provider EG Industries Bhd plans to list its Thai unit, SMT Industries Co Ltd, on the the Stock Exchange of Thailand’s Market for Alternative Investment (Mai).
  • Integrated engineering solutions provider Destini Bhd has secured a RM16mil contract to supply up to eight units of self-propelled hyperbaric lifeboat to Singapore-based Ultra Deep Solutions Pte Ltd.
  • A consortium that includes RGB International Bhd’s unit RGB (Macau) Ltd has been shortlisted to bid for a 50-year concession to operate a casino hotel in central Laos.
  • Turiya Bhd and Chase Perdana Sdn Bhd are suing US-based Johns Hopkins University and its medical education unit Johns Hopkins Medicine International LLC over their 2014 pull-out from a project to set up a medical university and manage a medical degree programme.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.