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IPO: Bison Consolidated Berhad
Listing: Main market
Price: RM1.10
Stock name: BISON
Open: 04 Mar 2016
Close: 14 Mar 2016
Ballot: 16 Mar 2016
Allotment: 25 Mar 2016
List: 29 Mar 2016
IAA will require an injection of at least 3,035 billion rupiah to reverse its negative equity position, of for which AirAsia will have to fork out RM419 million due to its 49% shareholding.
IAA has been making losses of up to IDR 531 million in the first quarter of 2015 (1Q15).
Since AirAsia will only recognise its share of profits once future cumulative profits sufficiently offset negative reserves, its current interest in IAA has been reduced to zero.
“This means that if IAA were to cease operations, the P&L impact on AirAsia will be ‘positive’ as AirAsia will not have to recognise its share of IAA’s loss,” Maybank Investment Bank Research analyst Mohshin Aziz said in a note to clients today.
However the long-term business strategy and operational impact would be negative for AirAsia, he said.
“AirAsia has MYR1,600m of cash as at end of 1Q15 and therefore can make this payment.
“However, we doubt the other local shareholders have the ability to pay for the remaining IDR1,548 billion within the next three weeks,” he added.
Mohsin said that the ruling, especially the short three-week time frame for compliance, came as a surprise, although the Ministry was expected to provide concessions for the airlines.
He kept a ‘Buy’ call on AirAsia with a target price of RM2.45 pending the outcome of IAA’s meeting with the MOT.
At 9.48, AirAsia was the second most actively traded stock across the bourse with 26.6 million shares done.
Source: TheEdge
KUALA LUMPUR: Ikhmas Jaya Group Bhd plans to invest approximately RM32mil of its initial public offering (IPO) proceeds to purchase new construction equipment.
Managing director Datuk Ang Cheng Siong said on Tuesday the investment would help the company leverage on many opportunities within the piling and construction industry.
"Being listed will provide the company with a stronger platform to enhance our business and build a stronger corporate identity," he said at the company's prospectus launch.
Ikhmas Jaya plans to invest about RM32mil of its IPO entails a public issue of 182 million shares of 25 sen each. The company intends to list on the Main Market of Bursa Malaysia on July 27.
AmInvestment Bank is the adviser, sponsor, underwriter and placement agent for the IPO.
Since its establishment in 1992, the company has completed projects for both the public and private sectors with a total contract value of RM1.7bil.
Among its projects include the Putra and Prai bridges, Klang Valley Mass Rapid Transit-Kajang line, Kelana Jaya Light Rail Transit extension, Paradigm Mall and KL Eco City.
Source: TheStar
KUALA LUMPUR: Dolphin International Bhd, headed for listing on the Main Market of Bursa Malaysia on June 9, will utilise more than 50 per cent of the RM31.28 million it expects to raise from its Initial Public Offering (IPO), for factory expansion and working capital. The rest will be for establishing a research and development facility and repay bank borrowings, said Group Managing Director Eric Low Teck Yin.
He said the listing would place the company in a stronger position to tap into Malaysia and Indonesia's huge palm oil milling machinery market.
There are over 439 mills in Malaysia and about 608 in Indonesia. Dolphin International is involved in the design, development, fabrication and sale of palm oil machinery.
"We will concentrate on catering to the demand for process integration and automation solutions that enhance productivity, safety and efficiency, while improving our facilities in Shah Alam and Puchong as well as innovating new solutions for customers in both countries," Low said.
He told reporters this after launching Dolphin International's IPO prospectus here today.
Low said the company's market share at present in the palm oil milling machinery sector was 3.2 per cent in Malaysia and 0.5 per cent in Indonesia.
The automation solutions for the palm oil milling machinery industry, he added, ensure production processes run in a more consistent manner.
Dolphin is issuing 46 million new ordinary shares of 20 sen each at an issue price of 68 sen per IPO share.
The public issue of 46 million new ordinary shares comprise 15 million IPO shares available for the Malaysian public and 8.25 million for the company's group directors and employees. It includes 22.75 million IPO shares for private placements, of which 2.5 million shares are for selected investors and 20.25 million for Bumiputera investors, approved by the Ministry of International Trade and Industry.
PETALING JAYA: Petrol and diesel prices will go up by 25 sen litre from March 1, the Domestic Trade, Cooperatives and Consumerism Ministry announced in a statement Saturday.
RON95 petrol will be priced RM1.95 (up from RM1.70), RON97 petrol at RM2.25 (up from RM2) and diesel at RM1.95 (up from RM1.70).
This follows the Ministry's decision to set the market prices of RON95 petrol and diesel on a managed float, starting from Dec 1 last year.
In the statement, Minister Datuk Seri Hasan Malek said prices were determined based on the average cost price of the product during February 2015 and currency exchange rates.
"The Government will monitor the development of the market price of the products' costs and currency exchange rates every time to set the retail price of petrol and diesel for the following months," said Hasan.
The Minister reminded all oil companies and petrol station operators to comply with the new pricing.
"Stern action will be taken against those who violate the rules relating to the new prices set by the Government," he added.
Source: http://www.thestar.com.my/News/Nation/2015/02/28/fuel-price-up-25-sen/
