Friday, 26 April 2013

1Q result may dampen sentiment for DiGi

As compare with maxis, digi only have net debt at RM 350 million while maxis total debt as high as RM 5.8 billion.

Wednesday, 24 April 2013

DiGi mulls business trust, pays 90% of net profit as dividend

PETALING JAYA: DiGi.Com Bhd, which recorded a net profit of RM328.6mil for the first quarter ended March 31, has confirmed it is currently working on setting up a business trust.

“We are working on it (business trust) now and it has not been concluded yet. It is a new framework and it will be the first business trust in Malaysia, so we are evaluating it,” DiGi chief executive officer Henrik Clausen (pic) told StarBiz yesterday.

Asked if DiGi would set up its business trust this year, Clausen said the trust was a new concept and DiGi was working on it without committing to a timeline.

Business trusts are business enterprises set up as a trust structure, managed by a trustee-manager which holds the assets on trust for unit-holders of the business trust. It has hybrid structures with elements of both a company and a trust. Business enterprises with stable growth and cash flow may now consider business trusts as an alternative structure to raise capital through initial public offerings in Malaysia.

The telecom company's revenue in the first quarter ended March 31 rose to RM1.64bil against RM1.56bil a year ago, driven by increased data usage, from a larger mobile Internet subscriber base of 5.8 million and higher sales of smart devices. Its earnings per share rose to 4.23 sen in the second quarter against 4.12 sen a year a go.

“We are on track for our 2013 guidance of 5%-7% revenue growth. Our first quarter revenue grew 5% and we are sticking to our guidance,” Clausen said, adding that it had earlier guided that DiGi was looking at sustaining its earnings before interest, tax, depreciation and amortisation (EBITDA) and cash-flow margin at 2012 levels.

DiGi has also declared its first interim dividend of 3.8 sen, or RM295mil, translating into a 90% payout ratio.

“We are sticking to our guidance of distributing 80% of our net profit as minimum payout ratio. We are paying 90% in the first quarter. We have been consistent,” Clausen said when asked if shareholders could be getting a higher dividend this year.

Clausen said its growth would largely be driven by its initiatives to increase mobile Internet revenues. It is looking to launch its 4G LTE services by the end of the second quarter this year.

He said DiGi was currently modernising its network and expanding capacity to capture a bigger share of data revenues and grow its business in the long term. He added that DiGi had modernised 68% of its network and expanded 3G coverage to 68% of the population from 56% last year.

“In the third quarter, we will have a brand new network,” Clausen said. He explained that the network would be a single Radio Access Network which was capable of delivering multi-spectrum data solution on the 2G, 3G and 4G-LTE bands from a single base station site.

On top of that, DiGi has completed a 800 km joint fibre-optics built with Celcom Axiata Bhd.

In the first quarter, DiGi's total subscriber base was marginally lower at 10.73 million as it embarked on initiatives to drive quality subscribers through higher SIM pack pricing and streamlining of sales acquisition and also higher prepaid rotational churn.

Clausen said DiGi had embarked on initiatives to make people stay longer with the telco. “Our churn rate is at market level with postpaid of about 22% and prepaid of 60%-70%.”

Nevertheless, its mobile Internet subscription recorded a 1.8% quarter-on-quarter increase and 9.1% year-on-year. Its blended average revenue per user remained stable at RM47 in the first quarter.

AirAsia declared final dividend for financial year 2012

Tuesday, 23 April 2013

Malaysian REITs losing lustre

PETALING JAYA: Local real estate investment trusts' (REITs) allure for investors may be waning on a combination of factors, including lower returns due to REIT prices approaching target prices pegged by analysts.

Analysts said that while the industry's longer-term prospects remained positive, REITs were now downgraded to “neutral” as unit prices approached targets.

Maybank Investment Bank Bhd analyst Wong Wei Sum said the average gross yield for Malaysian REITs was a trough of 6.4% compared to 6.6% in January 2013 and 7.4% at January 2012.

She said in a report that investors might be adopting more aggressive strategies post-general election (GE) as some of them had used defensive strategies after close to two years.

“Investors may adopt a more aggressive approach for the property sector favouring the high-beta developers post-GE,” she added.

Other reasons for the change in weighting included competition from business trust and potential higher overnight policy rate (OPR) in the fourth quarter, which was expected to see a 25 basis-point hike in anticipation of a higher inflation rate, she said.

Meanwhile, two other analysts told StarBiz that OPR estimates by their respective research houses were maintained at healthy levels, which would not pressure the profitability of REITs.

Wong also said: “DiGi.Com Bhd, the third-largest telco in Malaysia, is mulling over setting up a business trust, we understand. If it were to materialise, DiGi's net dividend yield would be even more attractive than the current level of 5.3% (financial year 2014) and more competitive than large-cap Malaysian REITs' 4.4% (net yield).

She added that competition could also stem from asset-rich developers like WCT Bhd, Dijaya Corp Bhd and Malaysian Resources Corp Bhd to unlock their assets value through REITs.
A general view of Mid Valley City. Maybank Investment Bank has downgraded IGB REIT to ‘hold’ while it has a ‘buy’ call on CapitaMalls Malaysia Trust.

An Affin Investment Bank Bhd analyst said competition posed by business trust in the near term would be minimal as investors might need time to understand its structure.

An RHB Research analyst said REIT sponsors had to inject at least RM1bil worth of assets to the instruments to achieve decent viability and liquidity.

She said that judging from the current completed assets that some of the developers had, it might take them a few more years to grow the asset sizes before listing them as REITs.

Thus, she did not see stiff competition from the REIT universe in the near term while KLCC Stapled REIT, which was en route to be listed this year was already on investors' radar.

Nonetheless, she was also neutral on the sector.

“Having said that, we will not see a selldown and a steep decline in REIT prices as the sector remains a good dividend play backed by asset value. Besides that, interest rates in the region are considered low,” she said.

The Affin analyst said she maintained an “overweight” for the sector this quarter but might tweak her computation following the financial results REIT players would announce in the coming weeks.

She said yields from REITs had been compressed to historical low and might look to downgrade the sector.

Maybank Investment has, in the report, downgraded Pavilion REIT, KLCC Property Holdings Bhd, Sunway REIT and IGB REIT to “hold” while it had a “buy” call on CapitaMalls Malaysia Trust.

The analyst from RHB Research said the brokerage's top pick was Pavilion REIT due to its location, asset quality and long-term growth prospects.

“When the mass rapid transit is ready, the Golden Triangle (in Kuala Lumpur) will be more vibrant and its growth will be even more attractive,” she said.

DiGi Q1'13 result

Nothing excited from DiGi's Q1'13 result which is released this afternoon.  Just slightly better than Q1'12 and declared 3.8 cents interim dividend with payout ratio 90%.

Starbucks Half-Price Frappuccino Promotion

Monday, 22 April 2013

Waiting for DiGi Q1 result

Tomorrow DiGi is going to release Q1'13 report.  Hope they don't disappoint us for the first quarter result.

Refer to DiGi Quarterly Results Announcement Dates

MISC slides 13.4% after Petronas fails in takeover bid

KUALA LUMPUR: Shares of MISC Bhd fell as much as 13.4% in early trade on Monday after Petroliam Nasional Bhd failed in its takeover.

At 9.03am, MISC had fallen 71 sen to RM4.59 with 1.67 million shares done.

The FBM KLCI fell 3.58 points to 1,702.7. Turnover was 20.63 million shares valued at RM19.32mil. There were 51 gainers, 53 losers and 92 counters unchanged.

Last Friday, Petronas announced acceptance from shareholders amounted to 86.07%, or 3.93% short the 90% shareholding level to make the offer unconditional.

Petronas would return all MISC shares that had been transferred into Petronas' central depository system account to the respective shareholders within 14 days.

Petronas needed to achieve a 90% acceptance level for the offer to become unconditional, thereby paving the way for the stock's delisting. 

Thursday, 18 April 2013


12年前,丹斯里东尼费南达斯(Tony Fernandes)用27美分买下净负债1千100万美元的亚洲航空(Air Asia)时,所有人认为这做法疯得无可救药,可东尼仅用不到两年时间即扑灭所有批评声响,將这家濒临破產的航空公司改造成金光熠熠的传奇企业,“人人都 能飞"字句从此响彻云霄。











我曾接过亚航寄来的取消航班通知,於是依照电邮指示点击衔接网,欲查询可供选择的新航班,却不 小心確认新飞行日期,选上提前半个月起飞的新航班,最后在两家服务中心均自称只是经销商(Vendors)拒绝受理,以及电邮没回覆情况下被迫驱车前往近 百公里外的廉航机场(LCCT),才如愿更换航班。







Ultimate Tax Relief Guide for Malaysians

Below shows the Ultimate Tax Relief Guide for Malaysians [Infographic].


Hektar Asset Mgmt plans RM19m capex to refurbish Kedah malls

KUALA LUMPUR: Hektar Asset Management Sdn Bhd, the manager of Hektar REIT, will invest RM19mil to refurbish two of its malls in Kedah.

Its executive director and chief financial officer Zalila Mohd Toon said on Thursday the malls were Central Square and Landmark Central, which were recently acquired for RM181mil.

"We are going to prioritise the refurbishment of Central Square and RM19m have been allocated to upgrade the two malls," she said after Hektar's AGM. 

Wednesday, 17 April 2013

AirAsia Indonesia to go public in fourth quarter of 2013

MEDAN (Indonesia): AirAsia Indonesia plans to go public in the fourth quarter this year, its president director, Dharmadi, said.

"The company is now processing administrative requirements for the initial public offering," Indonesia's Antara quoted Dhatmadi as saying to newsmen late Tuesday.

He had earlier revealed the company's plan to open new direct routes from Medan, the capital of North Sumatra to various cities in the country and abroad.

He said the company plans to float 20 per cent of its shares in the Indonesia Stock Exchange and has already appointed the underwriters for the IPO.

"We hope the IPO will go well. AirAsia's performance has been good marked by increasing number of its passengers and new planes," he said.

AirAsia initially planned to conduct the IPO in the first quarter last year but it was delayed as it wanted to acquire Batavia Air.

It is optimistic that its earnings would increase in line with its increasing flights from various regions especially Medan.

"Medan is one of the important hubs for AirAsia," he said. - Bernama

Indian skies filling up

Thursday, 11 April 2013

AirAsia X to restart KL-New Delhi, KL-Mumbai routes

NEW DELHI: AirAsia X will re-start KL-New Delhi and KL-Mumbai routes soon, group chief executive officer Tan Sri Tony Fernandes said.

“AirAsia X will be re-starting routes to India very soon. KL-Bombay and KL-New Dehli are around the corner,” he wrote on social media site Facebook yesterday.

The long-haul budget airline axed flights to Mumbai and New Delhi on Jan 31 last year, citing high operating costs. Both routes were commenced in 2010.

The routes could serve as a feeder for its latest venture in India, given that domestic aviation rules did not permit new airlines to operate international routes for the first five years of operations.

The budget carrier has established AirAsia India, a 49:30:21 venture between AirAsia, Tata Sons and Telstra Tradeplace of Indian investor Arun Bhatia.

The airline, to be based in Chennai, will cater primarily to Tier-2 and Tier-3 cities.

Operations are expected to begin by year-end. - Bernama

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Tuesday, 9 April 2013



该公司文告指出,该公司与大股东-Pulau Memutik Ventures有限公司,MBK保健伙伴有限公司及美末阿里艾迪拉(Mehmet Ali Aydinlar)及后者相关人士等签署上述豁免限制合约。


Sunday, 7 April 2013




亚航连同塔塔有限公司(Tata Sons)和Telestra Tradeplace私人有限公司,在3月28日以联营方式设立印度亚航。

亚航、塔塔和Telestra Tradeplace将分别持股49%、30%和21%。各方期望可在4月内签署股权认购协议和股东协议,同时,亚航也将与印度亚航拟定品牌协议书。 

Thursday, 4 April 2013

本报探悉:提名日落421 5月5日投票






AirAsia India eyes international routes

NEW DELHI: The newly formed AirAsia-Tata Group joint venture (JV), AirAsia India, is keen to fly international routes and has drawn up plans to recruit pilots for its wide-bodied, long-haul aircraft, Mail Today reported.

It said although domestic aviation rules restrict new airlines from operating domestic routes for the first five years of their operations, AirAsia India has sounded the government that it wants to fly to major overseas destinations, including the Gulf, Europe, United States and several Southeast Asian countries.

"They (AirAsia) have ambitious plans and want to move forward fast. Sooner or later, we expect changes that could relax the norm of five years experience and 20 aircraft needed for any domestic airline to fly outside India," said a directorate general of civil aviation senior official.

AirAsia has began recruitment for its Indian operation, a joint venture with India’s Tata Group and Telestra Tradeplace.

The airline, to be based in Chennai, would cater primarily to Tier-2 and Tier-3 cities. Operations are expected to begin end of the year.-- Bernama

Read more: AirAsia India eyes international routes

IHH at RM 3.77

Wednesday, 3 April 2013

AEON Member Monthly Specials Promotions

Parliament dissolved today

Finally, our PM announced to dissolve a long wait parliament at 11.30am by today.  But still don't know when is the date for GE.

Weird thing is this morning our KLCI drop as the lowest at 1632 points (i.e. -50), but closed with slightly green today.  How's market going to react tomorrow?  Hmmm...

AirAsia X to add 7 more planes

KUALA LUMPUR: AirAsia X Bhd expects to add seven more aircraft this year and next year, increasing its feet 18 planes. Currently, it has 11 planes.

"We would add seven more in 2014, and this would more than double our capacity without adding a single new country," said CEO Azran Osman-Rani at the MIDF Luncheon talk on Wednesday.

He said the planes would be the A300-330, with 377 seats configuration.

He said the long-haul carrier would not stretch itself thin again but instead add frequency to the bases the airline had created. sees 143.8m shares traded off-market

KUALA LUMPUR: Bhd's 143.81 million shares were transacted in an off-market deal on Wednesday.

Stock market data showed the shares, accounting for a 1.849% stake, were traded at an average price of RM4.57 each. Its paid-up is 7.775 billion shares.

At 3.03pm, DiGi was up two sen to RM4.59.

The FBM KLCI was down 9.08 points to 1,675.92. Turnover was 965.62 million shares valued at RM1.91bil. Losers beat gainers 715 to 131.

DiGi's largest shareholder is Telenor ASA with 3.809 billion shares or 48% followed by the Employees Provident Fund Board with 1.225 billion units while Blackrock holds 87.23 million shares. 

Monday, 1 April 2013

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April Fool

Time is flying fast.  1Q'13 is just past and now heading into 2Q'13.

Today is April Fool.  Luckily our PM didn't announced dissolve parliament, if not I think we all would think that it's just a fool.  Haha....

Happy April Fool!