Dataprep Holdings Bhd
What’s Up? … dated Sept 2010
Its subsidiary has accepted the letter of award (LOA) from Syarikat Prasarana Negara Bhd for the implementation of a cashless bus ticketing system for Rapid KL Buses.
Its 55% owned Solsis (M) Sdn Bhd, had received the LOA dated Sept 7 2010 for a contract value not exceeding RM34.99 million. The scope of works include to design, installation and commissioning of the cashless bus ticketing system for Rapid KL Buses. The duration for the job was six months from the date of the LOA, and that the project would contribute positively to its earnings.
Its pre-tax loss for FY ended March 31, 2010 rose to RM5.683 million from RM5.456 million in FY2009. For FY2008, it suffered a pre-tax loss of RM3.202 million. Revenue fell by 18 per cent to RM44.595 million for FY2010 from RM54.164 million in FY2009.
Its transformation efforts had allowed them to focus on high value-added projects and they have managed to secure many projects compared to its focus on low-margin projects a few years back. Its new projects are network integration, managed services, security, technology integration areas.
Currently, the company has an order book of over RM90 million mostly from projects received in the first six months 2010.
On international projects, the company was actively looking for merger and acquisitions abroad, along with continuous focus on the domestic market going forward. Currently, they are in talks with several companies.
Johor Corp
Johor Corp group of Companies/Assets
Johor Corp
Public Listed Assets:
l Kulim (51.28%)
n NBPO (50.75%)
l KPJ (48.35%
n QSR (59.79%)
u KFC (51%)
Privately Held Assets
l 26000ha of oil palm plantations valued at RM1.2 billion
l Others
What’s NEXT! … dated Sept 2010
With a new captain at helm (Its president and CEO Tan Si Muhammad vacated his post), will JCorp attar more institutional funds?
For now, it appears JCorp has the right assets in the food business. The plantation segment and quick service restaurant business remains the largest contributors to JCorp, both of which are resilient sectors.
However JCorp must gear down to be able to undertake any further corporate exercise in the near future. The debts it incurred from the 1998 economic crisis are still hanging over the group.
In 1998, JCorp’s debts stood at more than RM10 billion and it had enlist the help of CDRC to help it fend off creditors. JCorp managed to restructure the debts and a bif repayment is coming due in two years time.
A sum of RM3.6 billion is due in 2012. To pay u. JCorp is expected to dispose of some of its assets, amounting to RM13 billion as at Dec 2009. Included in the assets are quoted securities worth some RM6 billion.
Johor Corp’s borrowings are well backed by the value of its listed assets.
Kulim has been disposing its assets to raise funds to help lower its gearing.