Selamat Hari Raya !
KUALA LUMPUR 2017
29TH SEA GAMES
KUALA LUMPUR 2017
29th SEA GAMES
RIMAU
Respect, Integrity, Move, Attitude and Unity.
We're super excited to reveal all of our #happinessinthecity trucks!! Thank you to all the students who have contributed and made this possible! Don't forget to head to our Facebook page to VOTE for your favourite design! #LafargeMalaysia
Selamat Hari Raya !
Thursday, 9 March 2017 | MYT 11:41 AM
Eco World International to raise about RM2.58b from IPO
BY JOSEPH CHIN
KUALA LUMPUR: Eco World International Bhd (EWI), which is the largest initial public offer (IPO) this year, expected to raise about RM2.584bil from the issuance of 2.153 billion news shares.
The prospectus issued on Thursday showed that the retail offering is RM1.20 a share while the bulk of the shares offered to insitutions at the institutional offering would be decided via a book-building as it seeks a listing on the Main Market of Bursa Malaysia.
The 2.153 billion new shares would comprise an institutional offering of up to 449.459 million shares to Malaysian and foreign institutional and selected investors at the institutional price to be determined by bookbuilding.
It said the retail offering of 408 million shares would be offered to the directors and eligible employees of EWI and its subsidiaries and joint ventures, directors of Eco World Development Group Bhd (EW Bhd) and the eligible employees of EW Bhd and its subsidiaries; entitled shareholders of EW Bhd and the Malaysian public, at the retail price of RM1.20 per IPO share.
“The final retail price will equal to the lower of the retail price of RM1.20 per IPO share; or the institutional price; and bonus issue of two free warrants in EWI (warrants) for every five EWI shares held after the IPO,” it said.
EWI said that out of the RM2.584bil to be raised from the IPO, a total of RM1.367bil or 52.9% would be used to repay bank borrowings and repayment of advances. Another RM1.126bil or 43.6% would be used for working capital and/or future land acquisitions.
EWI would also issue up to 960 million warrants and assuming all the warrants are converted into shares at the exercise price of RM1.45, this would enable it to raise RM1.39bil.
EWI recently signed three key agreements as part of its IPO process.
The first was a share subscription agreement with GuocoLand Limited for a strategic 27% stake in EWI’s enlarged issued and paid-up share capital.
Secondly, it signed a retail underwriting agreement with the six banks to fully underwrite the retail offering.
Thirdly, it signed cornerstone placement agreements with the Employees Provident Fund Board, Permodalan Nasional Berhad and Kumpulan Wang Persaraan (Diperbadankan) (KWAP) , which have agreed to subscribe for 212,400,000 Shares in the aggregate.
President and CEO of EWI, Datuk Teow Leong Seng said: “We are pleased with the interest shown by the cornerstone Investors and we look forward to the opening of the retail offering and the institutional offering today.”
The retail offering of 408 million IPO shares is fully underwritten by CIMB Investment Bank Bhd (CIMB), Maybank Investment Bank Bhd (Maybank) and Hong Leong Investment Bank Bhd, as joint managing underwriters and joint underwriters, and Alliance Investment Bank Bhd, AmInvestment Bank Bhd and RHB Investment Bank Bhd, as joint underwriters.
EWI said the projects being undertaken now include three sites in the UK. Through its joint-venture company, EcoWorld-Ballymore, EWI is developing three waterside residential projects in the east and west of London: Embassy Gardens in Nine Elms, London City Island in Leamouth Peninsula, East London, and Wardian London in Canary Wharf.
EWI is also developing a project in Australia called West Village in Parramatta – a suburb and major business district in the metropolitan area of Sydney.
Based on valuation reports prepared by Jones Lang LaSalle and m3property, the total estimated gross development value for all four projects is about RM12.96bil.
Lafarge earnings expected to rebound in 2H17
Published on The Edge Markets (http://www.theedgemarkets.com)
Feb 15, 2017 | Written by Affin Hwang Capital | 0
This article first appeared in The Edge Financial Daily, on February 15, 2017.
We gather that domestic
cement demand fell another 6% year-on-year (y-o-y) in 2016, after posting a 3% y-o-y decline in
2015. As a result, domestic cement production fell 10% y-o-y to 20 million tonnes.
We believe the weak demand is due to ongoing large-scale infrastructure projects such as the mass
rapid transit (MRT) Line 1 being at the tail end; new projects awarded in 2016 such as the MRT Line
2, Sungai Besi-Ulu Kelang Elevated Expressway and Damansara-Shah Alam Highway, being still at a
preliminary stage of implementation; and fewer new property launches as the market remains
lethargic.
We gather that cement-selling prices have stabilised recently after stiff price competition was seen
last year due to the oversupply situation. Installed cement production capacity grew 15% in 2016
while demand declined by 6% y-o-y. New cement players were aggressive in lowering effective
selling prices by offering higher rebates to expand their market share.
We maintain our earnings forecast at this juncture, pending the release of fourth quarter of financial
year 2016 (4QFY16) results on Feb 22. We expect the upcoming 4QFY16 results to disappoint the
market.
Our FY16 net profit forecast of RM57.5 million is 38% below consensus estimate of RM92.8 million.
We expect core earnings per share to decline 77% y-o-y in FY16 due to subdued cement demand
and stiff pricing pressure.
We maintain our “sell” call with a dividend discount model-derived TP of RM6.40. We are concerned
with the earnings volatility in the near term and FY17 price-earnings ratio remains expensive at 45
times.
There is also the risk that no dividends are declared in 4QFY16 if earnings remain depressed. Hence,
actual FY16 dividend per share (DPS) could come in below our net DPS forecast of 6.6 sen and
consensus estimate of eight sen (DPS of five sen in the nine months of FY16).
However, we expect earnings to rebound in the second half of 2017 (2H17) when work progress on
large-scale infrastructure projects accelerate since this segment contributes a third to Lafarge’s
revenue. With the recovery in cement demand, we expect price competition to ease in 2H17. — Affin
Japanese road reopens one week after vast sinkhole appeared
Friday, 11 November 2016 | MYT 5:59 PM
First motorsport-themed township with GDV of RM15bil to be built in Gopeng
GOPENG: The first modern, integrated motorsport themed township with a gross development value (GDV) of RM15.1bil will be established here.
Known as T-City, the international level mega project will be undertaken by Goodland Group Ltd, a company listed on the main board of the Singapore Stock Exchange and Citrine Capital Pte Ltd, on a 184.5ha site.
Mentri Besar Datuk Seri Dr Zambry Abd Kadir said the development of the township would enhance Perak’s status and at the same time, speed up the its economic growth, as well as that of the country.
He said the project, planned over the past three years, was supported by the National Economic Council and Prime Minister Datuk Seri Najib Tun Razak himself wanted it to succeed.
“T-City will embody the smart city concept and involves three development phases with five key components, including the motorsport facilities and an entertainment hub.
“The other components are an automotive centre, retail and food industry outlets, a hotel and serviced apartments, alongside condominiums,” he told reporters in Gopeng after officiating the groundbreaking for the T-City project on Friday.
Zambry also said T-City would be equipped with comprehensive facilities and infrastructure, including a land transport terminal, petrol stations, parks, schools and a hospital.
He said the first phase of the project was expected to be completed in 10 years and cover 80.9ha, while embracing the first Formula 2 (F2) racing circuit in Malaysia and which is projected to be ready next June.
Meanwhile, Goodland Group executive chairman Tan Chee Beng hoped that T-City when completed in 15 to 20 years could adapt to the global changes.
“We are targeting to bring together automobile fans, motor racing enthusiasts, as well as car lovers from throughout the region under one roof,” he added.
Goodland Group is a 23-year-old property development company that has extensive holdings in the residential, commercial and industrial segments.
Citrine Capital is a specialised investment company focused on motorsport themed commercial development. - Bernama.
What is a supermoon, when can I see the largest moon in 69 years and will it be cloudy where I live?
http://www.telegraph.co.uk/news/0/what-is-a-supermoon-and-when-can-i-see-the-largest-moon-in-70-ye/
Look to the Malaysian skies on 14th November 2016, 7.24pm - 9.54pm
Enjoy ! Take some photos !
Rio 2016 Olympics. Go for Gold. Congrats to our badminton men's doubles team for winning silver. Watch men's single final tonight at 8.20pm. August 20th, 2016.
Happy Morning ! Good Morning !
Cement Selling Price RM 12.60 per bag delivered
for North and Central area.
RM 13.50 per bag delivered for South area.
RM 15.50 per bag delivered for East area.
* Prices offered are for order date 28th July 2016. Please contact us today for placing your order and visit us again on 29th July 2016 for updates. Delivery for 1st week August 2016.
August prices will be revised upwards. Do place your orders latest by 29th July 2016. Be early too before our offer price quota is completed.