Tuesday 4 September 2012

News Highlights - Gas Malaysia, KKB Engineering, Parkson Holdings, DRB-Hicom


Gas Malaysia (RM2.64/share)
Gas Malaysia: 80% of gas taken up, additional volume to be delivered via extended pipeline
Gas Malaysia Bhd has officially secured contracts for more than 80% of the additional natural gas volume that is coming on stream next year. Most of the 40 million standard cu ft per day (mmscfd) increased allocation by Petronas next year had been allocated for new customers and existing ones that were undertaking expansion of their facilities. The volume of gas is just waiting to be delivered via our extended pipeline.

Some of the pipelines are in the midst of construction while some are in the design process. Target is to complete these pipelines as quickly as possible so that when the gas becomes available by Jan 1, it can be deliver it to our customers.

Gas Malaysia had recently signed an agreement with Petronas Gas Bhd to increase the natural gas supply by 110 mmscfd to 492 mmscfd from its current 382 mmscfd capacity on a step-up basis, with 40 mmscfd for 2013, 30 mmscfd for 2014 and 40 mmscfd for 2015 – The Star

KKB Engineering (RM1.51/share)
KKB Engineering subsidiary gets RM74m CMSB job
KKB Engineering Bhd’s subsidiary has secured a RM74.40mil contract from Cahaya Mata Sarawak Bhd (CMSB) to supply concrete-lined steel pipes and steel mechanical couplings. Its subsidiary, Harum Bidang Sdn Bhd had signed a two-year contract with CMSB’s unit CMS Infra Trading Sdn Bhd to supply the products. CMSB is a major shareholder of KKB. The contract was expected to contribute positively to the group’s earnings and net assets for the financial years ending Dec 31, 2012 to 2014 – The Star

Parkson Holdings (RM4.67/share)
Parkson plans new outlet
Parkson Holdings group plans to develop another shopping mall in Malacca. Its wholly owned subsidiary Megan Mastika Sdn Bhd has signed a conditional agreement to buy 15 acres in Malacca from Dimensi Andaman Sdn Bhd for RM98mil in cash. In line with the group’s objective of owning key shopping malls, the proposed acquisition represent an opportunity to develop a shopping mall at strategic location in Malacca among the famous tourist attractions and in an area  planned for mixed development with the advantage of frontage of the sea – The Star

DRB-Hicom (RM2.55/share)
Razeek likely to head DRB-Hocom property division
Malaysia Resources Corp Bhd’s (MRCB) ex-CEO, Datuk Mohamed Razeek Md Hussain Maricar, will be joining DRB-Hicom as the chief operating officers, with focus on revitalizing the company’s property division. His role is to unlock values in the group’s vast land banks. Razeek would take on a senior ole in DRB-Hicom, likely to head its property division – The Star 

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