Sunday, August 22, 2010

Operator is expected to report the case of revision of policies or the automobile industry ‧ equity restrictions relaxed

Troubles for a long time opening up the domestic auto industry is expected to dispute the case in 2010, considered "issued", analysts believe that concerns about the protection under a domestic vehicle sales suggest a completely open, but limited equity cooperative or tied off, and allow foreign cars corporate strategy with the local car assembly partners.

Material integrated auto parts supplier and distribution networks

Even if these expectations come to nothing, cities have also optimistic the government will switch to integrated auto parts supplier and distribution networks, seek to lower the domestic car business more efficient way to deal with future challenges.

Trade and Industry Minister Datuk Mustapa Mohamed Thursday (Sept. 10) that the national automotive policy review will probably be announced until October, as there are many fields need to be adjusted. Policy review scheduled in September baked.

City, Prime Minister and Finance Minister Najib Razak will be measured in the October 23 count case of the 2010 amendment to the national auto policy announced (NAP) content.

OSK research analyst Emomafu believe that the new administration over the past few months as far as opening up competition in the domestic automotive domain program "about right", including the opening direction to allow foreign car companies and local assembly become strategic partners, and co-operation may involve equity.

"As the VW (Volkswagen) and General Motors (General Motor) plans to play for the automotive manufacturing center in Malaysia, is conducive to stimulate domestic economic hub, the government may limit cooperation with foreign investors looking forward to changes . "

He pointed out that the demand for foreign partners to a very important strategy in addition to adjustable targets and monitoring technology to achieve sharing, to prevent any form of intellectual property infringement. However, if the local partner can successfully form an alliance with foreign capital, will be shared through technology to improve their cars competitive, and to share resources and achieve cost efficiency, economy.

If the relaxation can bring parts industry

City, was recently rumored that VW may be in the coming months in Kuala Lumpur in an auto parts sourcing center, now with several local car companies such as Proton, multi-resource industries (DRBHCOM, 1619, board of industrial products group) and some local parts manufacturing companies to discuss cooperation plans to expand the loading rate of 40% of the local rental.

"If the government relaxed restrictions on foreign investment negotiations, in addition to the industry by, it can promote the local parts industry such as British martyr (INGRESS, 7112, board of industrial products group), EP system (EPMB, 7773, board of industrial products group ) with TSM Global (TSM, 8842, board and trade services group) performance of growth. "

In addition, he considered that the Government would put Proton (PROTON, 5304, board of consumer goods group) changes the future development advantages as a major consideration. If continuing to open up competition, may be compressed Proton local market share, and finally over the past few months, made from the second car (Perodua) away advantage.

Proton material open and cooperative relations strategy

"If the Government hopes to continue to maintain Proton market share is expected to remain with the spread of foreign cars, import cars in this city look forward to reducing the domestic tax should be wishful thinking did not turn out."

However, he prefers the Government may open Proton strategic partnership, "platform equally shared" mode, so that Proton can interoperate with each other and foreign resources, indirectly, from partner Gong allow Proton to enter a foreign market.

Nevertheless, as the Government has not yet issued a revised Foreign suggested that this Emomafu real economic benefits which can not be assessed. However, he prefers to be integrated automobile manufacturing industry, especially the low-end tier auto parts manufacturing business may be integrated to address the ever-present "adequate" problem.

Is not expected to significantly open

Kenner analyst who asked not to be named, said that the recent results to the city to get an industry, most do not think the Government will substantially open the auto industry to survive still suffer the pressure of local cars.

"Car license (AP) issue expected to continue stalemate, not expressly amend the draft. Although I believe the government will gradually relax the auto industry, but the material will be a gradual process, in particular, the domestic auto industry still can not get rid of stress, in order to protect local the interests of the automotive industry, the Government will not fully open the door competition. "

She believes that even if the Government to open restricted stock cooperative, limited stock is still expected to sell no more than 50%. "Because of the wide issue of shares involved, including the introduction of the directors may take the opportunity to interfere in the direction of business operations, the government should try not to touch this piece of sensitive issues, even if there will be many restrictions on open shares."

However, she optimistic about domestic sales will be integrated with the parts distribution network, for this long outstanding matter is the government, the not involve foreign investment, while economic nascent recovery O'clock this whole reasonable.

Market share of 36.7% ‧ ‧ government crackdown cigarettes British American Tobacco: Operators should not re-class tobacco tax case

Royal Malaysian Customs Authority disclosed earlier, Malaysia cigarettes accounted for 36.7% of the domestic cigarette market, so that the tobacco industry called on the Government to address market cigarettes and to take more effective measures against the proliferation of illicit activities.

Malaysia British American Tobacco (BAT, 4162, board of consumer goods group) managing director plot Kebaoweisi that the fight against illicit cigarettes, the government will soon announce the 2010's Budget should only modest growth rates, and strong law enforcement, heavier sanction cigarettes more dangerous action and awareness, are all effective action against illicit cigarette activities.

Among the 36.7% of smuggled cigarettes, 80% of Peninsular Malaysia, a year ago, Malaysia among the pack of cigarettes every 4, there is a package that smuggling of cigarettes, the current situation worse, that there is a pack of cigarettes every 3 package is cigarettes.

Product Kebaoweisi a statement that illegal cigarettes the tobacco industry has become the largest operator in Malaysia. In the first six months, legitimate tobacco market share of 11%, have been smuggling cigarettes away.

He said that almost all of the illegal cigarettes are smuggled from overseas, imported, counterfeit cigarettes does not appear local. Illegal use of foreign and domestic criminal organizations, large cigarette price gap for illicit cigarette activities.

He said many believe that will crack down on cigarette smuggling is only the legitimate cigarette makers, in fact, the impact is more deep, including the Government's annual loss of about 1.5 billion ringgit in revenue, if a good use of Fu 人民. Global government lost tax cigarettes, estimated to reach over 40 billion U.S. dollars annually.

"If the lack of effective response measures, cigarette smuggling activities of these materials will continue to grow, making them the Malaysian tobacco industry's biggest operators. The tobacco industry who hope that the Government is serious about implementing the tax increase due Ji Zhu Jian Fang Shi. Facts have proved that tax increase, with cigarette smuggling activities directly related to the new Singapore and Hong Kong is a good example. "

The growth rate of illicit cigarette activities tax

He said that since 2002, the tobacco industry increased the tax each year, one on the last 2 years of growth accounted for 50% of the peak of Dian Da Dao to the level of the tobacco industry to speed cigarette smuggling cigarettes to replace the legal status, but City did not increase overall consumption.

He pointed out that cigarette smuggling syndicate may make further use of the money funding other criminal activities. Mere monetary fine is not sufficient to curb illicit cigarette activities. When present, the Government is considering more stringent and imposed heavier penalties against smuggling of cigarettes, wholesalers, retailers and even consumers.

According to lead, cigarettes, nicotine and high levels of unknown substances, it will be more seriously affected the health risks of smoking.

He pointed out that the first quarter of 2009, the Government take the cigarettes by 76%. The government departments in tackling cigarette smuggling gratifying.

Slow expansion of sales expected to slow next year ‧ Bardini

Bardini Holdings (PADINI, 7052, board consumer groups) as the rate of expansion slowed in 2010, the annual total sales growth will slow.

Bardini Holdings executive director Chen Guixing accept the "Reuters" Access said: "The original plan for additional retail space will be halved."

Bardini Holdings as of June 30, 2009 fiscal year sales jumped 24% to 400 million 77 million ringgit, while net profit rose 19% to 49.5 million ringgit.

He said the current fiscal to maintain the same growth may be a little bit, to increase the retail space has slowed.

"And the 2008 fiscal year and an additional 90,000 square feet in fiscal year 2009, an additional 140,000 square feet of retail space compared to Bardini holding only intend to introduce in fiscal 2010, 40,000 square feet of retail space."

Malaysia in the first quarter grew 6.2% contraction in the second quarter continued to decline by 3.9%.

Introduction of new products and creating more outlets

Despite the economic downturn, Bardini owned business still achieved growth. In addition, Bardini Holdings also introduced new products and open more stores.

Chen Guixing said: "The sales increase was mainly dependent on the new addition of retail space."

Bardini Holdings was founded in 1971 OEM brands of clothing, since the late 80s to early 90s the booming economy to stimulate domestic consumption, Bardini they came to build their own brand.

Bardini Holdings currently in Southeast Asia and Middle East sales in 12 countries 9 brand fashion goods, including clothing and women's shoes and accessories.

Chen Guixing said that despite the increasingly competitive local city, but the company has no plans to further strengthening the export market. Currently, overseas sales accounted for only 10% of total turnover.

Domestic retail market is still profitable

He said: "We do not enter the export markets Di relevant plans or strategies, for us, Guo Nei's retail market Rengran profitable, Erqiegongsi in Ci it well. Here, we will continue to focus on local City. "

Bardini stock price rose 14.63 percent so far this year, performance has surpassed the competition, but still lags behind the market's 37% increase.

Competitors take fashion (VOIR, 7240, board and trade services group) dropped 10.56 percent this year, Baoli institutions (BONIA, 9288, board of consumer goods group) were down 12.28%.

8 changed 3 ‧ merger business integration of the region to promote the profitability of CIMB

Bumiputra renamed CIMB Group (CIMB, 1023, board financial group), reaching the securities that the CIMB Group, the completion of the regional business integration operations to save costs and boost sales potential, facilitate strong profit performance group .

CIMB Group has completed the Malaysia, Indonesia, Thailand and Singapore and 8 to 5 business integration, including investment banking, asset management and insurance, treasury, credit cards, and the Islamic bank, a regional platform for business for their enterprise resources, information technology and operations, Group Risk and Group strategy and financial operations.

Business contribution to the 70 million U.S. dollars in Indonesia

CIMB Group's management has revealed that the Indonesian Lippo and commercial bank mergers of 平均 Operation Rate Xiezuo, annual pre-tax profit for the Group's contribution to 70 million U.S. dollars, including savings Cheng Benyue 21.3 million U.S. dollars and Ying Yee collaboration benefits to 48.7 million dollars.

Pacific Securities, said material CIMB Group in Q3 2009, will target regional bad debt on schedule the implementation of an enterprise; "bad bank" is that this group of individual companies, including Malaysian and regional business can be transferred all the bad debts, the last Provision for doubtful debts of 1.1 billion ringgit approved.

This regional "bad bank" special tool company, will improve the "good bank" of the bad loans ratio to 1.3% level (the second quarter of 2009, 2.4%), and the recovery of loan losses increased to 120.7 percent, the second quarter of 2009, compared with only 90.3%.

Foreign ownership rose to 39.5%

CIMB Group as of 2009 only 8 Yuemiao foreign ownership rose to 39.5%, compared to 34.9% 7 Yuemiao. Shares in August from 12-month high price of 10 ringgit fell back 80 cents. However, share price performance so far this year, or beyond the FTSE and other banks in Malaysia the KLCI peers.

Group net profit up to test the Securities couplet Chang unchanged 2009/2011 year net profit growth were 16.3,19.1 and 21.4%, respectively, to 2.2 billion 70 million, 27 billion and 3.2 billion 80 million ringgit.

"The above scenario will include the average loan growth of nearly 12%, higher non-interest income and a more significant contribution to Islamic banking, in particular market conditions and improvement in financial market sentiment, strong efficiency and credit rate of approximately 90 basis points so too. "

Pacific Securities, said CIMB Group's management believes that the operating environment of 2009, even optimistic than the period. Despite signs that consumer sentiment improved thread, the second half of 2009, increase trading activity. However, CIMB Group is to maintain sound management approach, the global economic recovery is still fragile.

"CIMB there will still be formed behind the effect of bad debts is expected in the second half. This business integration is still the main catalyst to promote the profitable performance."

The Securities couplet Cheung Holdings price target maintained at 10 ringgit 20 cents, to to "sell" rating. Shares the main landing catalysis, including the region, particularly Indonesia and Thailand, business performance, will be 50 branches in the rationalization of the potential cost savings arising from the cross within the strategy's performance, disposal Sime Darby (SIME, 4197, board trade Services Group) shares of potential profits, capital market continued to rebound and the emergence of more trading opportunities and trends in foreign investment portfolio (inflow or outflow) and so on.

Wednesday, August 18, 2010

Chen sang gorgeous mountain setting foot overseas subsidiaries

Shan Chen gorgeous singing (WARISAN, 5016, motherboard Trade Services Group) announced the establishment of a new subsidiary-ATM Labuan to involved in overseas operations in the future, the new subsidiary of a registered capital of 10 million U.S. dollars (approximately RM 35,064,600 RM).

Chen Sing-fat message magnificent mountain that has been involved in setting up new subsidiaries to overseas business, registered capital of 10 million U.S. dollars.

The establishment of the new subsidiary will not profit as at 12 Yuemiao into effect.

Assessment and more timely business advice ‧ Kulim announced

Kulim (KULIM, 2003, board cultivation group) received several companies to corporate and commercial arrangements, Kulim in evaluating the proposals will be announced when appropriate.

Kulim in answer exchange company has received inquiries about the proposed offer to acquire Papua New Guinea, New Britain Palm Oil (NBPOL) lead the company's equity made the answer.

Kulim said that its own companies, in addition to NBPOL, there are Kentucky Fried Chicken (KFC, 3492, board and trade services group), QSR Brands (QSR, 9415, board and trade services group) and so on, and continue to make all parties received 3 business and commercial arrangements, this company is expected to increase in shareholder value, assessing the Jian Yi, once any proposal has for precision inspection, or demand the company Board of Directors approved, will make timely publication.

130 000 000 signed purchase Borcos shipping up to 40% ‧ Ocean Engineering 2.0 billion bid for next year

Dayang Enterprise (DAYANG, 5141, board and trade services group) look at next year's bid for 4 to 8 about 20 million ringgit worth of contracts, and plans to purchase another 10 vessels by 2012 only.

Up to foreign enterprises in China will focus on contracts for the time being will not tender an overseas project.

Dayang Enterprise Wednesday (September 9) announced that 32.08 million ringgit to 100 million cost of AWH Equity Holdings Sdn Bhd to acquire Borcos Shipping Pte Ltd 40%.

With this acquisition, up to foreign businesses from 11 am to suspend stock trading, shares rose 10 cents at one time to 46 sen of RM1, suspension of trading before the last trading price of 40 sen of RM1, rose 4 cents, midday resumption , price momentum less, 39 cents to close at RM1 hanging, rose 3 cents a day.

Dayang Enterprise managing director Tengku Yusof said after the signing ceremony in the acquisition, the company will bid for 4 to 8 next year, local contract, worth 2.0 billion ringgit.

In addition, the company also plans in 2012 from the original five vessels increased to 15.

He said: "The foreign companies have been completed up to 1.2 billion ringgit worth of contracts, currently holds 700 million ringgit in order to meet a busy 2012."

Early in December to open large shareholders

On the other hand, he said the company will be held early in December large shareholders to seek shareholder proposals through the acquisition of Borcos shipping, and taking into account the acquisition will be completed by year end.

"As the company holding a 100 million ringgit in cash flow, this 20% will be paid in cash, the remaining 80% and borrow."

Tengku Yusof said that through this acquisition program can be expanded up to foreign companies in the oil and gas industry's growing availability of development activities, and offshore shipping services provider dedicated work of integration. It can also participate in major marine transportation and support services companies.

"At present, foreign enterprises only have up to 5 boats, but it has more than 33 Borcos shipping vessels. Here, the strategic acquisition will create synergies with complementary business up to foreign businesses."

He said, Borcos shipping seized in 2010 provided 65 million ringgit after-tax profit guarantee, up to a 40% stake in foreign companies will help the strong profit performance.

Asked to expand their business plans to Brunei, he said, is still in the preliminary stages of negotiation, it is estimated the next 6 months there will be results.

Borcos shipping or for horse-share listed

Borcos Shipping Pte Ltd may seek in Malaysia Stock Exchange.

Dayang Enterprise chairman Datuk Wan Ali Wan Hamzah said after the signing ceremony in the acquisition, Borcos shipping orders since the total value of 300 million ringgit, and in the after-tax profit of 48 million made last year, the ringgit, but the listing will depend on City status.

He said: "Companies listed on the original plans in 2005, but not good for the market but do stop, switch to another way of funding."

With the current market situation, up to foreign enterprises do not rule out the resumption of the listing.

Wan Ali Wan Hamzah said the company management, including crew boats, security guard ships, special vessels offshore work, the port tugs, general craft, air boats, landing craft and general-purpose vessels.

6 vessels to receive year-end

6 vessels to receive year-end addition to the above 33 vessels, the up to foreign companies this year-end account to receive six vessels, including two general-purpose boats, and four private boats offshore work, namely, from now until the year -end delivery.

He said another project for the deep sea, equipped with dynamic positioning capabilities of the dedicated work of two offshore vessels, currently under construction which, total delivery in 2011.

Set up 28 years of Borcos shipping, is the second largest private shipping work offshore suppliers, specifically for the offshore oil and gas industry to provide maritime transport and support services. Currently, Borcos shipping operations in the Middle East, but in the domestic market is also occupied a great rate.