Wednesday 9 May 2012

News Highlights - Malaysain Airline System, PPB Group, Telekom Malaysia, Power Sector


Malaysian Airline System Bhd (RM1.23/share)
Troubles at MAS worsen
The troubles at national air carrier Malaysian Airline System Bhd (MAS) are deepening. Skytrax, the world’s largest airline and airport reviewer, has placed the company’s vaunted five-star airline ranking on watch following consistently poor feedback from passengers. The downgrade on the much sought-after premier status, which is listed on Skytrax’s widely followed website, comes at a time when the airline’s future is becoming increasingly uncertain. Last week, MAS and budget carrier AirAsia Bhd announced that they were scrapping their RM1.1bil share-swap deal after protests from the powerful unions at the beleaguered national carrier. – The Edge

PPB Group Bhd (RM16.72/share)
PPB-Wilmar gets more China approvals
PPB Group Bhd yesterday announced the receipt of two more approvals from the Chinese government on its proposed 20.0% stake purchase in Wilmar International Ltd’s China flour milling units. In a statement, PPB said to date, the company has announced that four of the seven selected seven China subsidiaries have received relevant regulatory authorities’ approvals. The approval for the investment in Dongguan Yihai was received on May 7 while the approval for Yihai Kerry Shenyang was received on May 8. – The Edge

Telekom Malaysia Bhd (RM5.47/share)
Yet to decide on role in digital TV plan
Telekom Malaysia Bhd (TM), the country’s biggest fixed broadband operator, has yet to decide on which area of the country’s digital terrestrial television broadcasting (DTTB) project it wants to take part in. Bidding documents are already out and TM will have until July 24 to submit its proposal. The proposal to build and operate the infrastructure and network facilities for digital terrestrial television, which will run on the 470MHz to 742MHz spectrum bands, involves the conversion of analogue technology to digital technology for all terrestrial TV stations.

Under the current setup, TV stations are individually licensed as content application service providers, whereby they install their own equipment at transmission sites. By going digital, the players will need to migrate to a different band, which requires new infrastructure. Therefore, terrestrial TV stations could be offering their contents by riding on the infrastructure built by the eventual bid winner. – Business Times

Power Sector
Cabinet to decide on gas, power tariff hike, says Chin
Energy, Green Technology and Water Minister Datuk Seri Peter Chin said there is a need to raise gas and electricity tariffs but it is for Cabinet to decide. He also said that the six-month interval of tariff revision for gas and electricity has not changed. The last price hike in gas and electricity was on June 1 2011. At that time, natural gas price sold to the power sector was raised 28 per cent to RM13.70/mmBTU from RM10.70/mmBTU. The average electricity tariff went up 2.23 sen/kWh (kilowatt hour), or seven per cent, to 33.54 sen/kWh. – Business Times

Source: AmeSecurities 

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