Chin Well Holdings
Bhd (RM1.28/share)
Expanding ops
Chin Well Holdings Bhd, armed with a strong cashflow of
RM22.9mil, is expanding its range of range of steel fastener products into
South-East Asia and Europe despite the weakening global economic climate. Group
director Tsai Chi-yun said the European market, which Chin Well was
traditionally strong, was expected to generate less than 45% of the group’s
revenue for the fiscal year ending June 30, 2013 (FY13). According to Tsai, as
a result of the slower demand, the price of essential raw material for
fasteners, wire rod, had dropped to US$760 per tonne, compared with US$800 per tonne
about six months ago. – Starbiz
Tadmax Resources Bhd
(40.5 sen/share)
Tadmax plans land
sale
Tadmax Resources Bhd is planning to sell some of its
landbank to help pare down debts, chief executive officer Datuk Faizal Abdullah
said. “We want to clean up the balance
sheet and move forward. For the past four years, our shareholders have had a
tough time,” said Faizal in an interview with Business Times. Tadmax, formerly known
as Wijaya Baru Global Bhd, was taken over late last year by low-profile businessman
Major (rtd) Anuar Adam. Anuar bought a 32.02 per cent stake in Tadmax, then
known as Wijaya, from Datuk Tiong King Sing at 95 sen a share. –Business Times
Timber sector
Mill wastes used to
feed biomass plants
Major plywood mills in Sarawak are increasingly using wood
residues to generate energy for their operations, according to Sarawak Timber
Industry Development Corp (STIDC) industrial planning manager Nicholas Andrew
Lissem. He said there were now 14 biomass plants in Sarawak, which supplied
energy for use in the mills. In fact, major timber groups such as Shin Yang,
Samling, Rimbunan Hijau, Ta Ann Holdings and KTS all owned biomass plants. “The
volume of wood residues consumed by these biomass plants is about 1.1 million
tonnes last year,” Andrew told StarBiz. – Starbiz
Source: AmeSecurities
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