How come nobody mention about PARKSON?
Wednesday ex date for Share distribution as dividend. If you buy tomorrow, still entitle.
Share dividend 3 for 50 ex-date on 23rd July.
Business & Markets 2014
Written by Liew Jia Teng of theedgemalaysia.com
Monday, 21 July 2014 20:50
KUALA LUMPUR (July 21): Abric Bhd, security sealing solution provider, announced that it had received a non-binding indication of interest from an interested party to acquire the entire core business of Abric.
“The board of directors had today, deliberated on the interest received and has agreed to offer exclusivity to the interested party, for a due diligence exercise to be conducted for the purpose of determining the definitive terms of the offer,” Abric said in a filing with Bursa Malaysia, today.
The due diligence exercise is expected to be completed, within two months from today.
Spritzer Bhd may continue to draw interest, amidst expectation that the water bottling company will announce an impressive set of quarterly earnings, benefiting from the water rationing that took place during its fourth financial quarter, ended May 31.
Spritzer’s revenue might reach RM250 million in current financial year, ending May 31, 2015 (FY15), said Mercury Securities, which track the stock. The research house also forecasted Spritzer to achieve revenue of RM209.1 million in FY14, generating net profit of RM19.2 million or 14.22 sen per share.
For the first nine months, Spritzer has recorded revenue of RM170.5 million and net profit of RM14.7 million.
The better results were attributed to better bottled water sales, arising from the hot and dry weather conditions.
In an exclusive interview with The Edge in March this year, Spritzer executive director, Dr Chuah Chaw Teo, said the group expects brisk sales amid water rationing in the Klang Valley, which will be reflected in financial year ended May 31 (FY14).
Turnkey contractor, Melati Ehsan Holdings Bhd, saw its net profit jump by 509% to RM6.64 million, in third quarter ended May 31, 2014 (3QFY14), up from 1.09 million a year ago, mainly due to higher operating revenue, contributed from the construction, trading and property development activities.
The group’s revenue increased by 96% to RM108.16 million, from RM55.16 million.
For the first nine months, Melati Ehsan’s net profit grew by 181% to RM16.92 million, from RM6.02 million.
The group also saw its revenue grow by 73.8% to RM252.67 million, from RM145.38 million.
Going forward, the on-going construction works and property development, such as Taman Ehsan Jaya at Pandamaran and Laman Bayu at Bukit Jalil, will continue to contribute positively to the group’s revenue and profitability.
SYF Resources Bhd plans to develop 8.09375 acres of freehold land, located in Sungai Long, Cheras, Selangor, with an estimated gross development value (GDV) of at least RM160 million.
The group’s wholly-owned SYF Development Sdn Bhd, has signed joint venture agreements with Luxmark View Sdn Bhd and Sheeco Properties Sdn Bhd, to develop the land into a residential project, comprising condominiums and Rumah Selangorku.
The total landowners’ entitlement of RM31.08 million (RM500, 000 each) has been paid to the landowners, as an advance.
From the future development proceeds, the landowners will be entitled to RM16.2 million and RM14.88 million, for Luxmark and Sheeco respectively.
The entitlement will be paid progressively, from the collection of sales proceeds, arising from the future development of the land.
IGB Corp Bhd, which has received a conditional take-over offer from Goldis Bhd for RM2.88 apiece last Friday, said its non-interested directors have decided that the group will not seek an alternate person to make a take-over offer.
“The board of directors of IGB, save for Datuk Seri Robert Tan Chung Meng, Tan Boon Seng, Tan Boon Lee, Tan Lei Cheng, Pauline Tan Suat Ming, Tony Tan, Daniel Yong Chen-I and Tan Yee Seng, had at the special board meeting held today, deliberated the offer and decided that the board would not seek another person to make a take-over offer for the offer shares,” IGB said in a filing with Bursa Malaysia, yesterday.
Meanwhile, Hong Leong Investment Bank Bhd has been appointed as the independent adviser to advise the independent board and minority shareholders of IGB, on the offer.
The shareholders of IGB are advised not to take any action, until receipt of the independent advice circular.
Goldis currently has about 32% stake in IGB, and will pay some RM2.64 billion to buy out the remaining shares.