Wednesday, 29 May 2013

Matrix Concepts aims for 30pc growth in net profit

KUALA LUMPUR, May 28 — Main Market debutant, Matrix Concepts Holdings Bhd, expects more than 30 per cent growth in net profit for its financial year ending Dec 31, 2013, driven by ongoing projects and unbilled sales of RM445.1 million as at end-March.

“Last year we registered a net profit of RM103 million and are confident of doing better this year,” its group managing director/chief executive officer Datuk Lee Tian Hock told reporters after the company’s listing ceremony here today.

He said the group is currently developing Bandar Sri Sendayan, its flagship integrated township in Seremban, Negeri Sembilan with a RM5 billion Gross Development Value (GDV), and slated for completion in 2019.

“Although, ongoing projects will sustain us up to 2019, the group does not intend to relax and will continuously seek new land acquisitions,” he added.

For this year the group intends to launch close to RM680 million in new projects in Negeri Sembilan and Johor, with an outstanding landbank of 930 hectares(2300 acres).

On future prospects, Lee said the group is eyeing the Klang Valley for its expansion plan.

“The time is now right for us to venture into the Klang Valley as we position ourselves to enter the big league,” he added.

Meanwhile, in its debut, the shares of Matrix Concepts rose 24 per cent to RM2.70, a premium of 50 sen over its initial offer price of RM2.20, with 2.166 million shares changing hands.

“We believe in terms of performance and delivery, we will move into higher gear to achieve sustainable results,” company chairman Datuk Mohamad Haslah Mohamad Amin said.

At noon break, Matrix Concepts rose 38 sen to RM2.58 with 18.856 million shares changing hands.

At Matrix Concepts’ initial price, it had a market capitalisation of RM660 million. – Bernama


Monday, 27 May 2013

Kenanga: 3 countries to drive IHH Healthcare's growth

KUALA LUMPUR: Kenanga Research expects IHH Healthcare Bhd's growth for the next five years to be driven by its operations in Singapore, Malaysia and Turkey.

In a research note today, it said in Singapore, the first phase of Mount Elizabeth Novena hospital, comprising of 150 beds of the 333-bed capacity and 13 operation theatres had commenced operations in July last year.

In Malaysia, it said the company was currently undertaking expansion projects in four hospitals -- Gleneagles Medical Centre Penang, Pantai Hospital Kuala Lumpur, Pantai Hospital Klang and Gleneagles, Kuala Lumpur -- and greenfield projects namely Gleneagles Kota Kinabalu, Pantai Hospital Manjung and Gleneagles Medini.

"The three greenfield projects will add an estimated 500 beds to its network by 2014," it said.

Meanwhile, in Turkey, the company through its subsidiary, Acibadem, is currently undertaking expansion projects in two hospitals, Acibadem Sistina Skopje Clinical Hospital and Acibadem Maslak Hospital, while undertaking two greenfield projects, Acibadem Ankara and Bodrum Hospitals.

AmResearch, in a separate note, said a growth frontier for the group would be Hong Kong, making its foray via winning a site for a greenfield project in the former British colony, which is scheduled for commencement in financial year 2016.

"This acts as a platform to penetrate deeper into the large and underserved market of Hong Kong," it said.

Nevertheless, it said IHH Healthcare was expected to continue its efforts to intensify revenue and exposure in its three key markets, Malaysia, Singapore and Turkey, to propel growth further underpinned by strong franchise value.

Kenanga has maintained its "market perform" call on the stock and raised the target price to RM4.04 from RM3.51 previously.

AmResearch re-affirmed a "hold" recommendation with an unchanged fair value of RM3.25. -- BERNAMA

Read more: Kenanga: 3 countries to drive IHH Healthcare's growth

AirAsia's worrisome JVs and associates

Friday, 24 May 2013

Happy Wesak Day

Happy wesak day! Have a nice day!

[转帖] 收购程序,知多少?- 雨文

一般的少数股东(minority shareholders)在收到献购书时,都会很茫然,那么一本书,里面都是一堆密密麻麻很难明白的字。在这个情况下,小股东们最担心就是自己的资本, 所以就直接翻到最后一页,把自己的股转给献购者(offeror)。有多少人会真正翻开,一页一页地去了解呢?那么你又如何知道,做为一个股东,到底有什 么权利?让笔者在这里慢慢为你解开各种各样的迷思。

AirAsia shares down after fall in Q1 profit

Shares in AirAsia Bhd, Southeast Asia’s biggest budget airline by passenger traffic, were down in early trading on Thursday after the company’s quarterly profit fell sharply.

Late on Wednesday, the airline reported a 39.23 per cent drop in first-quarter profit, hurt mainly by higher finance costs and a foreign exchange loss on borrowings.

Kenanga Research said the results were within its expectations and reflects a seasonally slower part of the year. The research house expects better earnings in coming quarters.

"We would expect better earnings from AirAsia in the upcoming quarters due to public holidays, post effect from the recently concluded election and also positive from its associates," it said in a research note on Thursday.

Kenanga downgraded AirAsia to 'market perform' from 'outperform', but raised the target price to RM3.36 per share from RM3.23.

Earlier this month, AirAsia said its passenger numbers in the quarter were up 19 per cent at some 9.8 million.

At 9.31am in Kuala Lumpur, shares in AirAsia were down 0.31 per cent at RM3.23, while the benchmark composite index was up 0.06 per cent at 1785.09.-- Reuters

Thursday, 23 May 2013

IHH Q1'13

Revenue for Q1'13 growth 29%.  Sadly, no dividend declared in this quarter.  But they are expanding their business aggressively.  It's good and we will be rewarded in near future.



Wednesday, 22 May 2013

AirAsia Q1'13

Foreign exchange loss reduced its increased net operating profit compared to the contribution of Q1'12.  Although this quarter's net profit is lower, but most of the business in Indonesia, Thailand, Philippine, and Japan are improved.  It's a good sign.

Monday, 20 May 2013

HEKTAR at RM 1.64

 Hektar surges for few weeks and perform quite well recently.  Today, it hits a new high and closed at RM 1.64.  Cheer!

Target Price of MATRIX IPO

Below are the target price given by researchers.

RM 2.59 (Hong Leong)
RM 2.75 (Kenanga) 
RM 2.85 (HwangDBS)
RM 2.88 (Maybank)

Sunday, 19 May 2013

Hektar REIT quietly carving a niche market

SAFE havens like real estate investment trusts (REITs) are always in demand during tumultous times, but let's face it, it will never be as sexy as growth and penny stocks. In fact, the instrument itself was never attractive but just stable until the emergence of mega REITs that dominated the local scene.

One of these local REIT players, Hektar REIT has been silently but surely carving a niche for itself.

Controlling its three-plus-two malls currently at its headquarters nestled in Solaris Dutamas in Kuala Lumpur, Hektar REIT is going on a defensive stance to fortify its resilience even further by going for neighbourhood malls that nobody sees value in.

Speaking to StarBizWeek recently, executive director and chief financial officer Zalila Mohd Toon says it is just the starting point for Hektar although it has recorded a set of improved numbers for its first quarter, after recognising the additional rental rates from its newly-acquired two Kedah malls, namely Central Square in Sungai Petani and Landmark Central in Kulim.

“The bumped up revenue are based on legacy rental rates and the rental rates would definitely be higher after we complete our asset enhancement initiatives (AEI),” she says.

Looking at a timeframe of one-and-a-half years to complete its AEIs, she says the rental rates could be bumped up significantly like how the company had rebranded the relatively small Wetex Parade mall in Johor.

“Currently, the majority of tenants in the two Kedah malls comprises of mom and pop retailers, and our ambition is to replicate the success of our earlier malls. We plan to attract more international and national retailers who have the appetite for higher rentals,” she says.

Taking a feather out of its earlier success like Wetex Parade, she says Wetex was among the smallest out of its five malls, but it has been a case study for the company.

“Wetex is like a baby to us, and when we bought it in 2008, it was already 10 years old. It was pretty runned down and filled with tenants like bootleg DVD operators, but once we conducted our AEI, the rental rates had gone up substantially,” she says.

She says with capital expenditure of about RM25 per sq ft for its AEI, it is the optimal amount for the company to create the essential positive spillover effects that would generate shopper traffic and also attract international and national retailers to the malls.

Based on the net lettable area (NLA) of 300,046 sq ft and 281,716 sq ft of Central Square and Landmark Central, it would entail the company to fork out about RM15mil to conduct its AEIs.

“Once we conduct our AEIs, we believe we can double up the rental rates from the existing rates we are collecting right now. The previous owners were mostly just property developers with no experience in handling a mall. For us, we have the network, expertise and the value added advantage to turn these malls around,” she says.

Specifically for Central Square, she says the AEIs would entail the remixing of tenants, and also to upgrade the mall's facilities and infrastructure due to the age of the mall, while the focus on Landmark Central would be to expand its NLA as the mall is still new.

According to her, getting the right tenant mix is fundamental in attracting shopper traffic, which for instance, the aging Central Square has a cinema with just three screens, and expanding it to nine screens would pull shopper traffic similar to its flagship mall Subang Parade that has doubled its shopper traffic after the introduction of cinema operator MBO.

“The population catchment for Central Square is about 400,000, while Landmark Central is similar to Wetex Parade with a catchment of about 200,000. We are positive that these two malls would fly just like what we have done in Muar,” she says. Although the company is pumping more cash to transform its malls, it has pledged to shareholders that it will at least maintain its dividend per unit, as there are concerns that the company would encounter some sort of income disruption with the downtime in the malls and also its high gearing ratio.

Based on its dividend payout of 10.5 sen per share last year, it is still giving a commendable yield and is among the top-yielding REITs on Bursa Malaysia. It is the highest yielding when compared to the other REITs focused on the retail sector.

“There would be no major disruption to the operation of the mall as we are prudent that the AEIs would not interrupt the malls' operations. These initiatives can be executed at night after business hours,” she says. Its current gearing ratio stood at 41%, which is above the recommendation of analysts and fund managers, but still below the 50% threshold set by the Securities Commission.

“The gearing ratio is at an acceptable level. And we gear up relatively more than other REITs instead of issuing new units simply because it is more cost effective and more efficient. Over the last six years, Hektar REIT's EBITDA has improved year-on-year due to our leasing strategy, tenancy remixing and scheduled asset enhancement initiatives. With a stable cap rate of an average of 7%, the value of Hektar REIT's assets is expected to rise steadily in the coming years,” she says.

On consumer patterns, she says that one should never underestimate the spending power of people in small towns, as what has happened in Wetex Johor, where the company tried to introduce international retailers like Baskin Robbins, which is well-received by the local community.

“It was a gamble that paid off when we offer giveaway rates to Baskin Robbins on the terms of an additional turnover rent provision. It was similar when we introduced Sushi King,” she says.

She says the company is also encouraging local entrepreneurs to step up the value chain and set up their own franchises that can rival the quality of international and national retailers.

Hektar currently has a total NLA of 1.7 million sq ft with an occupancy rate of 96.3% coming from 506 tenants throughout its malls.

It derives 40% of its net property income from its flagship mall Subang Parade, by virtue that it is located in the Klang Valley, which commands a higher rental rate. The rest are from Mahkota Parade, Wetex Parade and the two new Kedah malls.

It has not stopped in its expansion after its recent acquisition.

“While we are busy with our AEIs, we are constantly looking at proposals. There's a misconception that Hektar will be in the mood for acquisition every three years, but it doesn't work that way. The proposals are opportunistic in nature, and if we see a potential mall that meets our criteria and promises good yield, we will go for it,” she says.

“We took six years to reach RM1bil in terms of asset size under our management, and our next target is to expand this to RM2bil. I definitely hope we would be able to achieve this in a shorter time,” she says.

With its strategy to spread its wings throughout the country, Zalila says not only would this carve out its own niche, it would also spread out any risk of income disruption.

For its first quarter ended March 31, 2013, the company recorded a higher net profit of RM11.06mil from a revenue of RM30.07mil compared to RM9.72mil from a revenue of RM24.45mil recorded in the previous corresponding quarter. It closed 10 sen higher at RM1.62 on Friday.

Friday, 17 May 2013

Matrix IPO ballot results

Overall oversubscription rate = 11.32 times
For bumiputera portion, oversubscription rate = 7.20 times
For public portion, oversubscription rate =15.43 times

Chance to get is damn low, especially for public portion!.  One lot chance is higher than the others.

AirAsia X offers free tickets under IPO

PETALING JAYA: Tan Sri Tony Fernandes will be on a roadshow to meet retail investors and remisiers across the country in early June for the AirAsia X (AAX) initial public offering, whose shares are likely to be priced at RM1.10 to RM1.30 a share.

The airline is offering a larger retail portion than most companies in recent times, comprising 252 million shares or 10.6% of its enlarged share capital compared to 2%-5% offered by other companies to retail investors.

To lure retail investors to subscribe to the IPO, AAX is dangling a zero fare return air ticket to any destinations flown by the airline to investors that buy 10,000 IPO shares, and three tickets for those who buy 100,000 IPO shares as part of its shareholder benefit programme.

“It was my idea that we should meet retail investors because when I was young and was in England, I saw a lot of retail-based IPOs such as British Gas, British Telecoms and even that of my good friend Sir Richard Branson's Virgin group. It was for the public.

“Since we have benefited from Malaysians that fly with us, and rather than just the institutional investors benefiting from the IPO, we thought it was good to let Malaysians benefit by offering them free tickets if they subscribe to the shares,'' AAX director Fernandes told StarBiz yesterday.

While Fernandes said he would do his ceramah-style talks to retail investors in Malaysia, AAX CEO Azran Osman-Rani would meet institutional investors here and abroad.

The retail roadshow would be for a week and Fernandes (pic) claimed it was “something not done before. We will do the unconventional by talking directly to retail investors instead of sticking to just the traditional way of meeting only institutional funds.''

“Normally the public allocation is small, about 2% but we are offering a lot more shares for the public portion as we want them to be involved in the airline (as shareholders),'' he said.

He added that “we are always giving out free seats, so why not give them to those that subscribe to our shares. And if you keep the shares, you will get free tickets every year (for a maximum of three years).''

AAX, which is a sister company of AirAsia Bhd, plans to sell 790.12 million shares to raise US$300mil and and part of the funds will be used to finance new aircraft purchases. The airline is expected to take delivery of seven Airbus A330 this year.

AAX is headed for the Main Market of Bursa Malaysia and the listing is scheduled for July 10. It plans to start taking orders from institutional investors from June 10.

Fernandes declined to give any numbers, but analysts are valuing the company at RM1.50-RM1.70 a share. Those very bullish say it is about RM2 a share. Though analysts are looking at the IPO of RM1.30-RM1.40 a share, others think it could be lower at RM1.10 a share. But these are early days and the final pricing would be known later.

“AAX is a growth story. There is demand for budget air travel across the region and it wants to tap into that. It is tripling its fleet in three years. But of course like any airline, it is sensitive to exchange rates and fuel prices, and yields can come under pressure with excess demand but it is be able to keep a high and stable path with loads of about 80% in the medium term,'' said an analyst.

After the IPO, the major investors of AAX are Aero Ventures Sdn Bhd with 34.4%, AirAsia 13.7%, and both Orix Airline Holdings Ltd and Manara Malaysia Ltd with 6.4% each.

Apart from the retail portion of 10.6%, the others making up the 790 million shares are Miti bumiputra investors with 11% and local and foreign institutional funds with 11.7%.

AAX currently serves 14 destinations with 11 aircraft across Asia and it plans to expand further into North Asia and Australia.

CIMB Group Holdings Bhd, Malayan Banking Bhd, Credit Suisse Group AG and Morgan Stanley are joint global coordinators for the offering. Barclays Plc, BNP Paribas SA, Citigroup Inc, CLSA Ltd and HSBC Holdings Plc are helping manage the offering.

Thursday, 16 May 2013

为亚航X上市造势 东尼下月全国巡回见散户

财经新闻 财经 2013-05-15 08:45

东尼费南德斯向《星报》指出:“我的想法是要与散户会面,当我年轻时和身在英国期间,就见到许多以散户为主的IPO如英国天然气(BritishGas)、英国电讯(British Telecom)和我挚友———理察布兰森的维珍(Virgin)集团。”








  • 米都查迪亚
(吉隆坡15日讯)亚洲航空(AirAsia,5099,主板贸服股)发布新闻稿指出,印度亚航董事局已委任米都查迪亚(Mittu Chandilya)为总执行长,6月1日起生效。

米都在Egon Zehnder担任亚太区主管,并负责旅游休闲业务,主要专注航公公司和航空业。


塔塔有限公司(Tata Sons Limited)名誉主席拉丹塔塔对米都相当有信心,并冀望他能将在印度亚航发挥其领导才能,带动这家在印度航空的新航线增长。



Wednesday, 15 May 2013

















Monday, 13 May 2013

AirAsia X eyes up to US$300m IPO

HONG KONG: Long-haul carrier AirAsia X, founded by entrepreneur Tony Fernandes, began meeting investors on Monday to gauge interest for an initial public offering (IPO) in Malaysia worth up to US$300 million, according to a term sheet of the deal seen by Reuters.

The company and its shareholders are offering 790.1 million shares, with 75 per cent of the offering coming from new shares, according to the terms. The deal is slated to be priced on June 24, with its debut set for July 10.

AirAsia X plans to use 44 per cent of the proceeds to repay bank loans, with another 22 per cent set for capital expenditures, the terms said.

CIMB, Credit Suisse, Maybank and Morgan Stanley were hired as joint global coordinators on the IPO.-- Reuters

Read more: AirAsia X eyes up to US$300m IPO

Sunday, 12 May 2013

42.66 million AirAsia RCPS converted

PETALING JAYA: AirAsia Bhd has converted 42.66 million redeemable convertible preference shares (RCPS) in AirAsia X Bhd (AAX) into 42.66 million new shares.

In a filing with Bursa Malaysia, the low-cost carrier said the conversion was on a one-to-one basis.

To recap, AAX was incorporated in Malaysia on May 19, 2006 with a paid-up capital of RM266.66mil comprising 224 million ordinary shares and 42.66 million RCPS prior to the conversion.

Happy mother's day

To all pretty mothers,

Happy mother's day!

Have a nice day!

Friday, 10 May 2013

扶持数据业务增长 数码网络投资7.5亿










此外,该集团与天地通已完成兴建长达800公里的光纤(Fibre Optic)工程,现在最重要的就是提高网络流量和数据,这是他们过去一直在做的事情。









该集团的网络素质是受到小股东关注的,因为该集团因为经常发生通讯中断(Drop Call),所以蒙受10万令吉的罚款,是罚款最高的通讯业者。











寻找更多收购目标 贺达产托提升吉打新广场



她说,根据研究,双溪大年的Central Square的人流量约40万,是Wetex Parade的一半。

拟增Landmark NLA

“柔佛的购物广场将是我们的参考对象,进行提升工程后,Wetex Parade的平均租金翻了一倍。”

另外,莎莉拉表示,贺达产托有意增加Landmark Central的净租用面积(NLA),前者开业3年,比营业13年的Central Square广场新颖很多。


Thursday, 9 May 2013

DiGi.Com still exploring business trust (Update)

KUALA LUMPUR: DiGi.Com Bhd is still looking into the possibility of setting up of a business trust. Its chief executive officer Henrik Clausen said on Thursday the telco was still exploring the possibility.

DiGi was also looking at a 5% to 7% revenue growth this year, he told reporters after the AGM.

Meanwhile, Bernama reports is allocating RM750 million for capital expenditure this year, out of which 80% is for the construction of long-term evolution or 4G and 3G networks.

"DiGi will further beef up the investment this year to spur mobile Internet business and we also expect to launch the 4G network by the end of June," Clausen said.

He said although Maxis and Celcom had already launched their 4G services, DiGi viewed this as a 10-year game.

"We are not worry about the kick-off time for 4G services as we think end of the second quarter is ample time for us to launch the service, but most importantly is to do it in the right way," he added.

Last year, the company had swapped more than 3,200 sites or about 60 per cent of its total network to the 4G spectrum and expanded its 3G network to more than 67 per cent of populated areas in Malaysia, from 54 per cent a year ago.

On site sharing and fibre build initiative with Celcom Axiata, he said the project saw good progress with the near completion of a combined 1,000 km of owned and joint fibre infrastructure in the north and south of Peninsular Malaysia.

With a total of 10.5 million customers currently, DiGi is among the top three players in the telecommunications industry with a 28%t market share in Malaysia.

To recap, in the first quarter ended March 31, its earnings rose 2.5% to RM328.64mil from RM320.63mil a year ago. Revenue rose 4.9% to RM1.64bil from RM1.57bil.

DiGi's higher revenue was mainly driven by mobile Internet revenue which grew 55% on-year, from a larger base of 5.8 million mobile Internet customers, including 3.0 million smartphone users.

Wednesday, 8 May 2013


Stock name: MATRIX
Listed: Main market
A property developer based in Negeri Sembilan.

Timetable for IPO
Opening of application    08/05/2013
Closing of application      15/05/2013
Balloting of applications   17/05/2013
Allotment of IPO shares  27/05/2013
Tentative listing date        28/05/2013

AirAsia set to venture into shared services

AirAsia Bhd is set to venture into the global shared services business, via the establishment of a new subsidiary, AirAsia Global Shared Services Sdn Bhd (AGSS).

In a filing to Bursa Malaysia today, AirAsia said the objective of establishing AGSS is to provide shared business, support and outsourcing services, develop or use multimedia technologies in producing or enhancing products and services, and for process development and provision of training.

The authorised share capital of AGSS is RM100,000 divided into 100,000 ordinary shares of RM1.00 each, while the issued and paid-up capital of the company is RM2, comprising two ordinary shares of RM1.00 each.

"For the purpose of incorporation, AirAsia subscribed to one ordinary share of RM1.00 and Aireen Omar subscribed to one ordinary share of RM1.00.

"Aireen will be transferring one ordinary share of RM1.00 held by her to AirAsia, making AGSS, a wholly-owned subsidiary of AirAsia," the carrier said.

Aireen is the chief executive officer of AirAsia, overseeing the low-cost carrier's Malaysian operations.

Together with Aireen, Andrew Robert Littledale and Chan Suit Fong, are the directors of AGSS.-- Bernama

Read more: AirAsia set to venture into shared services

Tuesday, 7 May 2013


Surprisingly, Hektar announced their Q1'13 report today as I expected might be last week of May.

The Q1'13 net income increases 13.7% mainly due to net income arising from the two new shopping malls in Kedah.
Cash at end of Q1'13 stood at RM 25.4mil as compare to RM17.6mil Q1'12.

Sunday, 5 May 2013

Election Day

Finally, 5th of May 2013 is election day for Malaysia.

For ourselves or our next generation, ini kalilah...Ubah!

Fingers crossed...

Thursday, 2 May 2013

AirAsia X posts strong growth in Q1

AirAsia X Bhd, the low-cost, long-haul affiliate of AirAsia Bhd, recorded a strong growth in the first quarter (Q1) of this year, carrying 650,000 passengers, a growth of 20.9 per cent in the same period in 2012.

AirAsia X Chief Executive Officer Azran Osman-Rani said the airline would continue to focus on increasing capacity this year in identified core markets including Australia, China, Taiwan, Korea and Japan.

"The addition of seven aircraft this year will see AirAsia X expanding further in the long-haul segment across Asia Pacific," he said in a statement today.

In terms of passenger traffic, AirAsia X recorded 3.3 billion
Revenue-Passenger-Kms (RPKs) in Q1 2013 while capacity was at 3.9 billion, resulting in a load factor of 84 per cent and solidifying its position as the second-largest low-cost carrier in Southeast Asia after AirAsia.

Its RPKs and Average-Seat-Kms (ASKs) increased by 21.7 per cent and 26.7 per cent, respectively, compared with Q1 2012 for continuing routes.

"AirAsia X is also seeking ways to maximise passenger revenue and develop new ancillary revenue streams.

"We aim to grow our fleet of new fuel efficient aircraft to meet passenger demand, expand route mix and continue to implement initiatives to strengthen operations quality and cost structure," Azran said.

On cargo operations, he said AirAsia X carried 7,482 tonnes of freight in Q1 2013, registering a growth of 47 per cent from 5,106 tonnes in Q1 2012 for its continuing routes.

Its aircraft fleet as at March 31 this year remains at nine Airbus A330s and two Airbus A340s while the 10th A330 was delivered last month.-- Bernama

Read more: AirAsia X posts strong growth in Q1

Interbank GIRO fee at 10 cents

Start from today (i.e. 2nd May 2013), all the interbank GIRO fund transfer to other bank will be charged at 10 cents only!

Below shown few banks with the announcement of GIRO fee with 10 cents.

Wednesday, 1 May 2013

Happy Labour Day

A long waiting public holiday since CNY 2013!  Finally, I can have a rest day on labour day, i.e. 1st of May 2013.