Sunday, 30 March 2014

嘉德商託續探討收購

嘉德商托(CMMT,5180,主板產業投資信托組)首席執行員林惠俐指出,儘管建議中的收購麗陽廣場、麗陽辦公大廈等計劃並沒有落實,集團繼續探討收購目標,投資的准則是任何新的資產收購,專注在零售業產業,首要條件是坐落在大馬、最好是可帶來租金收入、位於人口密集的地區。

“此外,我們將繼續探討收購迎合投資原則的資產,不論是從第三方或嘉德商托的贊助機構Capital Malls Asia有限公司”。
在過去一年,該集團繼續積極管理與強化嘉德商托的財務地位,資產負債表顯示游資強穩、融資根基保持多元化,2013年3月,3億6千380萬令吉的期限貸款,固定利率定在4.1%為期2年。
2013年12月31日,嘉德商托的總貸款,不包括銀行擔保為9億1千零70萬令吉,相等於28.8%的負債率,讓嘉德商托在未來擁有收購商場的空間,截至2013年杪,嘉德商托的貸款大約是嘉德商托債務的72.9%,以固定利率支領。
擁有超過1350個租約
林惠俐補充,嘉德商托截至2013年杪財務地位持穩,在吉隆坡、雪蘭莪、檳城及關丹,分別擁有4家購物商場,超過1千350個租約,嘉德商托的組合投資提供單位持有人穩定的現金流、收入,焦點專注在大馬具有活力的零售業。
另外,嘉德商托的一個競爭優勢是其與CMA的緊密聯繫,後者是嘉德商托最大的單位持有人,也是其管理人Capital Malls大馬產業投資信託管理私人有限公司的大股東。
雙方的這項聯繫予嘉德商托、善用CMA在零售產業管理模式的優勢,CMA是亞洲其中一個最大的購物商場發展商、業主與管理機構,在新加坡、中國、大馬、日本及印度的53個城市,管理105個購物商場。
2013年,嘉德商托繼續專注在提供單位持有人穩定的收入,通過資產管理、提昇資產價值,積極收購達到預定目標。
她說,2013財政年,嘉德商托營業額達3億零510萬令吉,產業營運開銷為9千650萬令吉,產業凈收入介於2億零860萬令吉,比截至2012年12月31日財政年的產業凈收入1億9千600萬令吉增加6.4%。
產業組合估值
增加4.9%至31億
另外,截至2013年12月31日,嘉德商托的產業組合估值31億令吉,比2012年的29億令吉,增加4.9%或1億4千300萬令吉。
雖然捷運工程影響金河廣場的業務,不過,在組合資產方面,嘉德商托的營運保持蓬勃,出租率達99%、2013年購物者流量共有5千790萬人。
鑒於業績表現穩定,2013年的股息分發一共是1億5千680萬令吉,比之前一年增加5.2%,在2013財政年,單位持有人獲得每單位8.85仙的股息分發,比2012年的8.44仙增加4.9%,這一年結束時,嘉德商托擁有市值25億令吉,資產總值達32億令吉。(星洲日報/投資致富‧企業故事‧文:鄭碧娥)

Tuesday, 11 March 2014

IHH bids for Australia healthcare firm?

SYDNEY: IHH Healthcare Bhd, Asia's largest hospital operator by market value, is considering making a A$5 billion (US$4.5 billion) offer for Australian healthcare firm Healthscope, a person familiar with the matter told Reuters on Tuesday.

 
The purchase would mark Malaysian-based IHH's first foray into Australia, where demand for healthcare services is growing rapidly due to an ageing population.
 
It would also offer a swift and lucrative exit for US buyout firms TPG and Carlyle Group Ltd which paid A$1.99 billion for Healthscope in 2010.
 
Healthscope executives and lead bankers Macquarie Group Ltd  and UBS AG recently met potential buyers in Asia, the person familiar with the matter said, adding that TPG and Carlyle had set a deadline for indicative bids in April.
 
TPG and Carlyle are also considering taking Healthcare public, said the person who declined to be identified due to the confidentiality of the process.
 
News of the potential IHH purchase was first reported by the Wall Street Journal.
 
When asked to comment, IHH said in a statement that it was "always looking at various value accretive opportunities to add to its portfolio". TPG and Carlyle declined to comment.
 
Earlier this year, Healthscope said it was considering several options for a sale process to cash in on strong demand for quality healthcare assets.
 
Stocks in Australian private health operators have surged so far this year, with Ramsay Health Care Ltd up almost 14 per cent and Sonic Healthcare Ltd gaining over seven per cent, compared to a one per cent gain in the broader index.
 
 IHH is 45 per cent owned by Malaysian sovereign fund Khazanah Nasional and joint-listed in Malaysia and Singapore. It operates hospitals across Asia and in Turkey, according to its website.
 
Earlier this year, TPG hired Ganen Sarvananthan, the former head of investments at Khazanah, as a partner and managing director in Asia.
 
Healthscope, which owns 44 private hospitals in Australia and pathology operations in Australia, Singapore, Malaysia and New Zealand, reported A$328 million in operating earnings before finance costs, income tax, depreciation and amortisation (EBITDA) for the year ending June 2013.-- Reuters


Read more: IHH bids for Australia healthcare firm? - Latest - New Straits Times http://www.nst.com.my/business/latest/ihh-bids-for-australia-healthcare-firm-1.507547#ixzz2vf5tA7pg

Saturday, 8 March 2014

Flight MH370 bound for Beijing goes missing

SEPANG: Malaysia Airlines (MAS) confirms that flight MH370 is missing. MAS says Subang Air Traffic Control lost contact with the aircraft at 2.40am, Saturday.

In a statement issued by the airline, flight MH370, operated on the B777-200 aircraft, departed Kuala Lumpur at 12.41am on 8 March 2014. It was expected to land in Beijing at 6.30am the same day.

The flight was carrying 227 passengers (including 2 infants) and 12 crewmembers.

Malaysia Airlines is currently working with the authorities who have activated their Search and Rescue team to locate the aircraft.

Malaysian Airlines vice president of operations, Fuad Sharuji during an interview with CNN said that the aircraft should have run out of fuel by 8.30am Saturday morning as it only had seven hours of fuel on board.

In the interview with Anderson Cooper, Fuad explained that the flight which departed 41 minutes after midnight from Kuala Lumpur was supposed to have arrived in Beijing at 6.20am.

“However the plane carrying 239 passengers, of which 227 were passengers while 12 were crew members lost contact with the Subang Air Traffic Control at 2.40am.

“We have tried to track the flight down by getting in touch with nearby aircrafts and other radars along the route, but there is no luck as of now,” he said.

A report by CCTV news said 160 out of the 227 passengers were Chinese nationals and that China authorities are also in the process of searching for the missing flight.

MAS will provide regular updates on the situation.

The public may contact +603 7884 1234 for further information.

Monday, 3 March 2014

IHH Healthcare falls as investors lock in gains

KUALA LUMPUR: Shares of hospital operator IHH Healthcare Bhd fell to a low of RM3.73 on Monday as investors took profit despite reporting an improved fourth quarter net profit.

At 11.52am, IHH was down 10 sen to RM3.74 with 1.99 million shares traded.

The fall in the share price was also due to the weaker broader market, sparked by rising tensions in Ukraine and weaker Chinese economic data.

The FBM KLCI fell 13.60 points to 1,821.95. Turnover was 999.54 million shares valued at RM733.99mil. There were 177 gainers, 555 losers and 232 counters unchanged.

The biggest healthcare operator in Asia last week reported its fourth quarter net profit rose on-year by 47.03% to RM230.1mil while revenue rose 16.33% to RM1.78bil.

IHH is trading at a price-to-earnings of 48 times while it was trading at a forward 2014 valuation of 38 times, Bloomberg data showed.

Dealers said funds were taking the opportunity to sell into strength on the stock's historically high valuations which were at a huge premium compared with the benchmark FTSE Bursa Malaysia KL Composite Index's 17.2 times.

Public Invest Research, in its research note, said for FY13, revenue was within expectations at RM6.8bil (-3% on-year), accounting for 97% and 98% of its and consensus forecast respectively.

Net profit in FY13 fell 16% on-year to RM631mil (FY12: RM751mil), mainly due to higher staff costs, operating expenses and forex losses.

"Nonetheless, excluding exceptional items such as valuation gains and forex losses, FY13 net profit of RM649mil exceeded our expectations at 107% of full year forecast, albeit within consensus," it said.

However, Public Invest Research said it had an Underperform rating on IHH Healthcare and target price of RM3.52.

IHH expansion on track


Source: The Edge Financial Daily

'Airasia will remain profitable'



Source: The Edge Financial Daily