EASTERN Pacific Industrial Corp, a Malaysian oil and gas services provider, said its biggest shareholder has no plan to take the company private, denying a report in local business daily.
The paper had reported today that a buyout plan by Terengganu Inc, the main shareholder, has hit a snag because Ahmad Zaki Resources Bhd, the second-biggest shareholder of Eastern Pacific, wants a higher price of RM2.50 a share compared with RM2.10.
“Both shareholders have denied the contents of the article,” Eastern Pacific said in a statement today. The announcement was made after the market close.
Shares of Eastern Pacific jumped the most in 18 months in Kuala Lumpur trading before the announcement. - Bloomberg.
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Another drama in bursa malaysia. I thought only politicians interested in drama, our businessmen and financial providers also love drama ke.Not the first time i've heard this BS.Remember Astro, MBSB,Gamuda,Zelan,Ranhill and the list goes on. On the other hand, its indeed a good news to speculators and shareholders who want to cut loss at better price. I'm neutral on this.
Management team at Zelan has to date successfully completed the construction of 16 power plants mostly on Design & Build (EPC) basis, 14 of which are located through Malaysia, one each in Singapore and India. Zelan's expertise also includes the design & construction of airports, highways and interchanges as well as commercial and industrial buildings.
Though relatively new compared to the other Business Units, has fast built a reputation for timely delivery whist maintaining quality and value. This unit has positioned itself as a lifestyle developer and has carved a niche in the market with projects such as the Hampshire Residence and Riviera Courtyard Homes.
Specializes in the manufacturing of roofing and cladding systems that focuses on specific client needs. Mentionable projects taken on are the building envelope systems for the Kuala Lumpur Convention Centre, Changi Airport Terminal 3, Singapore, Customs, Immigration & Quarantine (CIQ) Complex, Johor and many others.
This Unit is relatively new which aims to source and secure IPP investments to generate long term recurring income for the Group. Such investments would mainly focus on greenfield and/or brownfield equity participation in IPPs.
current price RM0.805
cash ps RM0.27
other investments ps RM0.099
net cash ps RM0.11
total assets ps RM3.37 (+1.25%)
short term borrowing +110%(43.5m to 92.2m)
total liabilities ps RM2.01 (+9.5%)
payables to liabilities 88.7% (-0.04%)
NTA RM1.28
Stake in IJM Corporation ps RM0.54 (IJM closed RM3.60)
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My presentations went well,thank god! Anyway, back to the topic, Zelan closed 0.805 closed 0.015 sen or 1.8% lower from my purchase price. Maybe too early to say but zelan has performed so much better than KLCI and DJ index last week. Already in coma state or could be another bear trap, only time will tell.I'm waiting for their next (3rd) financial result, should be out next week. Total book order as at sept 30 was around RM3.5bn and balance sheet looks healthy. However, Zelan's NTA value decreased from RM1.80 as at July 30 2007 to RM1.28. Though the short term borrowing increased by 110% or RM48m, overall balance still backed by a healthy net cash per share at RM0.11.Zelan has 9% stake in IJM Corporation(RM3.60) valued at RM306m or 0.54 sen per share!
36% or RM1.26bn of Zelan's order book alone derived from UAE. looking at property crisis there, should i be worry? Should be ok..i hope so. The rest from Saudi Arabia (IWPP),Indonesia (power plant) and others. Need to be more realistic because construction sector is said among the worst performer during recession time.So, hit and run should be the best strategy.hmm..
Total dividend last year was 0.12 sen and zelan already paid their interim dividend last november, 0.05 sen per share and still trading below its NTA value. TA wise, next support level should be around 0.75 sn and 0.60 sen.I'm looking forward to see their latest cash flow and balance sheet. Can't wait!
Company current price PE 52ws high 52ws low 52ws loss recent rally from 52 ws low
| 通貨名 | T.T.S. | ACC. | CASH S. | T.T.B. | A/S | D/P・D/A | CASH B. | |
| 001 | USD (米ドル) | 93.27 | 93.40 | 95.07 | 91.27 | 91.14 | 90.84 | 89.27 |
| 002 | GBP (イギリスポンド) | 135.54 | 135.77 | 143.54 | 127.54 | 127.31 | 126.61 | 119.54 |
| 004 | CAD (カナダドル) | 74.66 | 74.78 | 81.66 | 71.46 | 71.34 | 71.06 | 64.46 |
| 005 | CHF (スイスフラン) | 79.91 | 80.02 | 83.91 | 78.11 | 78.00 | 77.94 | 74.11 |
| 020 | EUR (ユーロ) | 117.70 | 117.91 | 120.20 | 114.70 | 114.49 | 114.24 | 112.20 |
| 061 | AUD (オーストラリアドル) | 60.86 | 61.00 | 68.56 | 56.86 | 56.72 | 56.32 | 49.16 |
| 062 | HKD (香港ドル) | 12.33 | 12.35 | 14.33 | 11.47 | 11.45 | 11.35 | 9.47 |
| 071 | KRW (韓国ウォン)（*） | 6.51 | **** | 7.81 | 6.11 | **** | **** | 4.81 |
| 072 | SGD (シンガポール・ドル) | 61.18 | 61.28 | 66.18 | 59.52 | 59.42 | 59.27 | 54.52 |
| 074 | NZD (ニュージーランド・ドル) | 48.91 | 49.03 | 55.61 | 44.91 | 44.79 | 44.43 | 38.21 |
Last Updated: February 17, 2009: 8:42 PM ET
Dear Mr. Buffett
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NEW YORK (CNNMoney.com) -- Berkshire Hathaway Inc., the holding company run by legendary investor Warren Buffett, saw its overall investment portfolio shrink by 25% in the fourth quarter, according to regulatory forms filed Tuesday with the Securities and Exchange Commission.
In the the three months ended Dec. 31, the Omaha, Neb.-based company's overall holdings decreased to $51.87 billion from $69.89 billion at the end of September.
The bulk of the paper losses were tied to Berkshire's investments in financial services sector, which has been battered by the credit crisis and volatile markets.
Berkshire's stake in Bank of America (BAC, Fortune 500), for example, had a market value of $70.4 million as of Dec. 31, down from $175 million at the end of September, according to the regulatory forms. The value of its holdings in Wells Fargo & Co. (WFC, Fortune 500) and Atlanta-based Sun Trusts Banks Inc (STI, Fortune 500) also decreased.
The company sold more than 16 million shares of the ratings agency Moody's (MCO) retaining about 48 million shares in the firm.
Meanwhile, Berkshire took a new position worth more than $100 million as of Dec. 31, in water treatment company Nalco Holding Co. (NLC), according to the SEC forms.
Berkshire acquired 19 million shares of Constellation Energy Group (CEG, Fortune 500), and sold roughly 4 million shares of energy giant ConocoPhillips (COP, Fortune 500). It increased its stake in NRG Energy Inc. (NRG, Fortune 500), a diversified electricity producer.
Berkshire's (BRK.A) class A stock closed $4,140 lower at $84,000 a share on the New York Stock Exchange Tuesday.
http://money.cnn.com/2009/02/17/news/Berkshire_Hathaway/?postversion=2009021720
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woaa!
AMMB Holdings Bhd (1015) registered higher net profit of RM247.96 million for the third quarter ended December 31 2008 from RM197.85 million in the previous corresponding quarter.
Revenue, however, was lower at RM1.54 billion from RM1.62 billion previously.
For the nine months ended December, the group reported RM681 million net profit on the back of RM4.39 billion revenue, compared with RM451.05 million net profit and RM4.5 billion revenue in the previous corresponding period.
AMMB attributed the nine-month profit performance to the growth in net interest income and net income from Islamic banking business of RM144.8 million and RM35.4 million, respectively.
AMMB chief executive officer and managing director Cheah Tek Kuang said the group is on track to deliver record net profit performance for the financial year 2009.
"AMMB group is well positioned to weather global, regional and national volatilities, leveraging on the strategic partnership with Australia & New Zealand Banking Group (ANZ).
AMMB is investing in and implementing strategies to build sustainable growth, Cheah said in a statement.
As at December 31 2008, AMMB group's total assets stood at RM86.5 billion, an increase of 9.4 per cent from the previous corresponding period. The group's risk-weighted capital ratio was at 14.3 per cent.
Total risk-weighted assets of RM70 billion complies with standardised Basel II requirement, it said.
AMMB's retail and business banking divisions were the largest contributors to the group's profits in the first three quarters, reporting a combine post-tax profit of RM577.1 million.
Investment banking division posted a reasonable after-tax profit of RM36 million, despite being affected from tough conditions in capital and stock markets.
The relationship and regional banking division recorded RM33.7 million profit, 28.3 per cent lower than the previous corresponding period, mainly in its international stock broking businesses. Insurance operations contributed RM33.8 million to group profits.
