Bursa KL (Feb 21). As the corporate reporting season picks up pace, it seems that there are mixed results, with banks and plantations [plantation] s, providing mild headache compared with other sectors

AFFIN HOLDINGS BHD [AFFIN] People revenues rose 4.7% to RM132.54 million in the quarter ended December 31, 2011 from RM126.57 million a year ago. Revenues rose 14.4% to RM620.54 million RM709.81 billion. Earnings per share were 8.87 compared to 8.47 sen sen.

For the year ended December 31, 2011, the banking group said it recorded its best performance so far, with a record profit before tax (PBT) of RM709.1 million compared with RM637. 5 million in 2010. This was an increase in% or RM76.1 11.2 million.

SARAWAK PLANTATION BHD [SWKPLNT] posted net profit of RM19.66 million in the fourth quarter ended December 31, 2011, up 139% from RM34.35 million a year ago when was no deterioration losses RM10.60 million. Revenue fell 3.4% to RM115.61 million RM111.62 million a year ago. Its administrative expenses declined to RM18.60 RM8.83 million million

FY11, Affin said earnings rose 139% from RM34.35 million RM82.24 billion. Revenue rose 40.6% to RM340.83 million RM479.36 million following the increase in income from oil palm operations segment.

MITRAJAYA HOLDINGS BHD [MITRA] has won three projects worth RM181.55 million, of which two are for light rail (LRT) contracts and one for a housing project in Putrajaya.

main shareholders Nilai Resources Group Bhd has proposed a capital repayment (SCR) of RM1.50 per share, a premium of 20 sensors above the closing price on February 17 of RM1.30.

The main shareholders are Akarmas Sdn Bhd and Tan Sri Dr Gan Kong Seng, which together with 62.937 million shares or 55.1% equity, which is not entitled to the SCR.

CONCEPT VTEC BHD [notion] has proposed a bond issue of up to 138.91 million new shares on the basis of three bonus shares four existing shares held.

RM4.83million reported net losses in the first quarter ended 31 December 2011 compared with a net profit of RM13.41 million a year ago. Its revenues fell 33.9% to RM59.98 million RM39.63 billion. Its loss per share was 3.13 sen compared to earnings per share of 8.79 sen.

Esso Malaysia Bhd [ESSO] ‘ s revenues fell 71.5% to RM34.58 million in the fourth quarter ended December 31, 2011 from RM121.51 million ago one year. His income was 16.5% higher than RM2.75 billion from RM2.359 million a year ago. Earnings per share was 12.80 sen versus 45 sen.

For the year ended December 31, 2011, was a decrease of 42.9% on revenue of RM153.35 million RM268.58 million in FY10. Revenues, however, increased 33.6% to RM11.26 million RM8.42 million.

POS MALAYSIA BHD [POS] recorded net profit of RM25.06 million in the October-December quarter of 2011 compared with RM6.08 million a year ago mainly due to available for investment and a one-time provision for impairment. It said revenue rose 4.4% to RM277.33 million RM289.63 billion.

In the 12 months from January to December 2011, its profit rose 66.8% to about RM112 million of RM67.11 million. Revenues rose 15.6% from RM1.173billion RM1.014 billion.

group benefits operations increased 38.2% to RM146.0 million (2010: RM105.7 million) for the period ended December 31, 2011, due to the impact year increase in domestic tariffs beginning July 1, 2010, together with realized the benefits of transformation initiatives.

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Bursa KL (Feb 21): Bursa Malaysia blue chips slid in early trading Tuesday as investors awaited the result of a 130 billion bailout for Greece ero

.

Reuters reported the euro zone is expected to finance ministers to approve the rescue plan with strict conditions, after months of uncertainty that has rocked the currency bloc, although work remains to be done to make the numbers add up.

at 9:30 pm, the FBM KLCI fell 1.16 points to 1,559.41. The turnover was 282.20 million shares valued at RM133.63 million. However, the winners led losers 174 to 161, while 238 stocks were unchanged.

Among the losers were Exxon, up 12 sen to RM3.64 after their profits fell. CI Holdings lost seven sen Rm1.26, Top Glove six sen RM4.86, KLK also six sensors Bursa Malaysia RM24.08 and RM7.35 sen five.

Among the lower cladding SPB lost 10 sen to RM3.61, RM2.16 and Jobstreet five sen to RM1.71 KKB four sensors.

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Bursa KL (Feb 21): Shares in Nilai Resources Group Bhd rose in early trade on Tuesday after major shareholder proposed a capital repayment (SCR) of RM1.50 a part

.

9:44 a.m. was 13 sen to RM1.43. There were 35,000 shares transaction.

The FBM KLCI fell 1.16 points

to 1,559.41. The turnover was 371.64 million shares worth RM185.12 million. Carried rose fell from 209 to 189 while 266 counters were unchanged.

On Monday, Nilai Resources announced major shareholders Akarmas Sdn Bhd and Tan Sri Dr Gan Kong Seng – which together have 62.937 million shares or 55.1% of capital – had proposed SCR

.

However, the SCR would be entitled to exercise because of its proposed business could see taking the company private.

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Bursa KL (Feb 21): Shares of plantations [PLANTING] stocks were mixed in early trading Tuesday after crude palm oil (CPO) futures reached an eight-month high of RM3, 260 per ton on Monday The FBM KLCI fell 1.47 points

to 1,559.10. The turnover was 452.59 million shares worth RM232.01 million. There were 203 winners, 253 losers and 292 counters unchanged.

plantations States was the biggest winner, 74 sen RM23.50 after it reported a higher pre-tax RM491.541 million for the year ended December 31, 2011 compared to RM349. 46 million in FY10. Revenue rose to RM1.385 billion RM995.107 million

BLD plantations added 23 sen RM10.06.

However, there was some profit taking, with the chin down 20 sen to RM8.66 Tek.

Batu Kawan and KL Kepong

, which are scheduled to announce earnings this week, as investors locked slipped on earnings. Batu Kawan fell 14 sen RM18.80 KLK and six sensors lowest RM24.08.

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Bursa KL (Feb 21): Plastics BP HOLDING BHD [BPPLAS] the net ‘s fell 23.6% to RM4.27 million in the fourth quarter ended December 31, 2011 from RM5.59 million a year ago

Said Tuesday that its profits almost unchanged at RM55.83 million from RM55.66 million a year ago. Its earnings per share were 2.37 compared to 3.11 sen sen.

“The board of BP Plastics had decided to recommend a 4% second interim dividend tax exempt (2.0 sen per share) for the year ended December 31, 2011″ she said.

Plastics BP said that for FY11, its net profit fell 9.3% to RM17.13 million RM15.53 billion in FY10, mainly due to higher costs of raw materials input and general strengthening of the ringgit against the U.S. dollar in fiscal 2011 compared with the previous year.

Its revenue was 0.6% higher than RM220.75 million RM222.16 million, despite the tsunami in Japan in March 2011 and weaker global demand, the economic world cope with risk risk out of concerns about the impact of on-going debt crisis in the euro area.

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Bursa KL (Feb 21): The Dow staged a mild recovery in the afternoon session on Tuesday, in line with major Asian markets since the feeling was reinforced by the Greek rescue deal

.

15:00, the FBM KLCI rose 1.85 points to 1,562.421. Turnover was 1.06 billion shares valued at RM865.49 million. There were 292 winners, 414 losers and 353 stocks unchanged.

Panasonic Malaysia was the top gainer, adding 68 sen RM21.19, while Maxis gained 19 sen RM6.

Among the plantations [PLANTING] s, the plantations of America added 62 sen RM23.38, RM10.04 sen plantations BLD 21 and Providence Plantations 14 sen to RM3.06 Sarawak.

F & N added 22 sen RM17.80

the minor buying interest after the share price has been affected recently by declining revenues.

Nilai Resources added 14 sen to RM1.55 after major shareholder proposed a capital repayment (SCR) of RM1.50 per share.

YTL Cement and MBM Resources added 13 sensor RM4.73 each to RM4.43 and.

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Bursa KL (Feb 17): blue chips on Bursa Malaysia closed firm on Friday, tracking regional markets registered increases to 1.6% as investors were a bit optimistic that Greece has taken measures sufficient to guarantee that would ensure a second rescue.

The FBM KLCI

closed up 6.66 points at 1,557.17, boosted by gains in Tenaga, Maybank and Genting. Turnover was 2.27 billion shares worth RM1.94 billion. There were 511 winners, 304 losers and 346 stocks unchanged.

All key markets in Asia posted gains. Japan’s Nikkei 225 rose 1.58% to 9,384.17, Hong Kong Hang Seng Index 21,491.62 1.01%. Taiwan Taiex 0.32% to 7,894.36 and South Korea’s Kospi 1.30% to 2,023.47 while Singapore’s Straits Times Index rose 0.79% to 3,000.59. The Shanghai Composite Index was a marginal 0.01% higher 2,357.18, while the other indices closed in the red China.

Reuters reported increased optimism on Friday that Greece has finally done enough to secure a second save despite worsening relations with Germany, but there were still doubts about the claims of lenders to monitor more strict as in Athens, will implement the agreement.

Greek officials say they have done everything asked the ministers of euro zone finance to sign the 130 million euros (170 billion U.S. dollars) rescue package on Monday, a month before Athens needs the money for 14.5 million euros of debt by March 20 or go bankrupt.

At Bursa Malaysia, investors were happy to see the market closed higher after the withdrawal on Thursday. However, for the week, the KLCI lost 4.51 points below 1,561.66 on February 10.

Analysts said positive economic data

of Bank Negara Malaysia on economic growth in the fourth quarter of 2011 helped boost sentiment. The cautious outlook for 2012, BNM forecasts, expected.

Crude futures

palm oil for the third month delivery rose RM54 to RM3, 243 per tonne. The ringgit gained from 0.0162 to 3.0430 against the U.S. dollar.

Tenaga rose 11 sen to RM6.11, pushing the KLCI up 1.41 points. Maybank added six sen RM8.56 and GENTING BHD [GENTING] 12 sen RM10.64, pushing the index by 1.06 points and 1.05 points.

HLFG

rose 20 sen RM11.74, Hong Leong Bank 12 sen RM11.74, public bank of six sensors RM13.70, AMMB four sensors of RM6.14 and RM7.28 CIMB three sen .

Tasek was the biggest winner, up to 47 sensors RM8.47 after announcing its dividend payment. Petronas Dagangan rose 20 sen sen RM18.02 and Petronas Gas 14 to RM16.50.

PDZ was the most active, with 178.9 million shares of fact, the addition of two sensors of 10.5 sen, GPA rose 1.5 sen 10.5 sen tp.

Perisai rose six sen to 98.5 sen. There were 50 million shares crossed in several off-market deals at an average price of 88 sensors.

Among the losers were DiGi, up to eight sensors to RM4.02, Maxis tp pairs at RM5.75 and RM5.41 MMHE three sen.

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Bursa KL (Feb 17): Kumpulan EUROPLUS BHD [kEuro] has proposed raising its stake in the West Coast Highway Sdn Bhd (WCESB) to 80% intend to increase their supervision of WCESB after the said The RM7.07 billion West Coast Highway concession.

kEuro said Friday it would buy a 15% or 4.59 million shares of the prominent WCESB Sdn Bhd Xtreme RM5.33 billion.

kEuro said, along with the current 18.649 million shares, or 64.20%, the acquisition is the conclusion of a 80% shareholding.

“At the start of construction [CONSTRUCTION] on the West Coast Highway, WCESB is expected to contribute positively to revenue and shareholder value kEuro group,” she said.

In short, on Jan 26 2012, WCESB received a letter of approval of the Unit of Public Private Partnership Department of the Prime Minister to carry out the proposed privatization of the highway construction West Coast.

would be based on build-operate-transfer (BOT), with a concession period of 60 years at an estimated project cost of RM7.07 billion.

WCESB existing directors are Tan Sri Chan Ah Chye @ Chan Chong Yoon, Datuk Abdul Hamid Mustapha, Datuk David Frederick Wilson, Loy Boon Chen and Datuk Neoh Soon Hiong.

The company has been in deficit over the past five years. It posted net losses of RM21, 594 in the year ended January 31, 2011.

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TOKYO (Feb 17): The Japanese Nikkei average index rallied nearly 2 percent on Friday, tracking strong gains on Wall Street on solid U.S. economic data, while the growth expectations that Greece ensure a long-awaited rescue plan next week Exporters

and finance were the big winners, with Toyota Motor Corp gained 1.8 percent in high volume, while Mitsubishi UFJ Financial Group rose 2.2 percent.

Financial stocks were boosted by optimism over Greece after Athens found the extra budget savings needed and an official of the euro area, said the rescue package of $ 170 billion must be approved Monday, moving closer to Greece to avoid a disorderly default.

top Japanese brokerage Nomura Holdings, last up 4.2 percent, tops the list of the 30 central Topix the largest percentage gainer and industrial robot maker Fanuc Ltd also outperformed the market and rose 3.6 percent.

Nikkei index rose 1.9 percent to 9,416.02, breaching the 9,400 level for the first time since last August. It rose above its 200 day moving average near 9,047, and went to his 1-year moving average of 9426.

But

market strategists said the benchmark will face stiff resistance at the level of 9.400 to 9.500, where the selling pressure is expected to increase.

“I think we’ve hit our peak for the day around 9400 and the market is likely to trim profits for the rest of the day,” said Yutaka Miura, senior technical analyst at Mizuho Securities.

Miura said the reference to 9600 will join later this month, but the gains will be limited by profit taking and expected a market correction in March.

“I see no fundamental reason for the Nikkei to rise to 10,000, as some others say that although there are a lot of overheating in the market thanks to excessive liquidity,” he said.

The Nikkei is up 11.3 percent so far this year, supported by a run of strong economic data from the United States and massive liquidity European Central Bank other measures of acceleration by the Bank of Japan.

On Thursday, the number of Americans filing for unemployment benefits unexpectedly fell to a near four-year low, while manufacturing and housing data showed new momentum of recovery in the largest economy world.

Wall Street rose overnight

in the data and the S & P 500 climbed to a maximum of nine months. The broader Topix index rose 1.6 percent to 812.76 on Friday.

automakers recently hit Japan and increased electronic charge on the strengthening of the dollar, trading at 79.01 yen last a fresh 3-1/2 months.

Panasonic Corp rose 3.2 percent to a maximum of two months after hitting a more than three decades of low earlier this month. Nissan Motor Co. and Honda Motor Co advanced 2.6 percent and 2.8 percent respectively. – Reuters

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Bursa KL (Feb 17): Shares of CI Holdings Bhd rose at midmorning on Friday after it declared a dividend of RM4.60 per share for a total of RM653.20 million

.

10:32 a.m., CIH is 11 sen to RM1.36 with 6.45 million shares done.

The FBM KLCI rose 8.03

points to 1,558.52. The turnover was 686.25 million shares worth RM474.41 million. There were 382 winners, 150 losers and 310 stocks unchanged.

CI Holdings announced a net profit of RM650.39 million in the second quarter ended December 31, 2011 from RM11.17 million a year ago, driven by the provision of Asahi Group Permanis to RM820.0 million in cash.

Its revenue declined slightly to RM11.35 million RM11.96 million a year ago due to a slowdown in the construction [CONSTRUCTION] sector.

The improvement in profit before tax was mainly due to revenues from the sale of Permanis of RM688.43 million.

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Bursa KL (Feb 17): RAM Rating Bhd will continue to monitor the degree of Silver Bird Group Bhd A2/Negative/P2 [silver] ‘s RM30 million commercial papers and medium term notes program (2005/2012).

The rating agency also said on Friday it had received confirmation that the Silver Bird Group fully redeemed the last leg of its RM70 billion of bonds in series (2005/2012) on Jan 13, ahead expiration date of the credit line of 15 February.

RAM

said the facility has been canceled and no longer has any obligation bond rating of series that had been previously classified A2 with negative outlook.

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NEW YORK

(16 February): World stocks and the euro rose on Thursday in promoting the U.S. economic data and indications that the leaders of the euro area were on track to approve a plan crucial bailout for Greece

.

common European currency erased earlier losses against the dollar after an official said eurozone leaders were finalizing the details of a second bailout for Greece worth it for least 130 million euros.

Development eased fears of a chaotic Greek default, causing prices to retreat to 30-year U.S. Treasury bonds by about 1 point.

investor sentiment also received a boost from data showing that applications for unemployment benefits unexpectedly fell U.S. to nearly four years last week, while the U.S. housing January rose more than expected.

major indexes on Wall Street ended around 1 percent higher. The S & P 500 had its best daily performance in two weeks and ended at its highest level since May 2011.

“We’re getting this incredible flow of good quality data. It is hard not to want to enter the market,” said Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis.

“People are increasingly of the opinion that although Europe still have asthma attacks, it is unlikely to become a calamity for the world economy,” he said.

The Dow Jones rose 123.13 points, or 0.96 percent, to close at 12,904.08. The Standard & Poor’s 500 gained 14.81 points, or 1.10 percent, to 1,358.04. The Nasdaq composite index rose 44.02 points, or 1.51 percent, to 2,959.85.

In Europe, the FTSEurofirst 300 erased losses and closed 0.11 percent higher than the expectations of a Greek bailout grew. World stocks as measured by the MSCI World Index benchmark Any country increased 0.48 percent.

The euro rose 0.5 percent to $ 1.313. Also rose 1.15 percent against the yen, to a maximum of two months of 103.61.

“The possibility that some concrete progress (in the bailout agreement Greece) is a further boost risk appetite and pushing up the euro,” said Kathy Lien, director of research at GFT Forex in Jersey City. “Finally we are walking in the right direction.”

as investors moved into stocks, the reference prices of the notes a 10-year Treasury fell 14/32, sending its yield up to 1.982 percent. Thirty-year Treasury bond was 31/32 in price, its yield to 3.15 percent.

long-dated debt losses Price after the Treasury sold $ 9 billion in Treasury Inflation-Protected Securities (TIPS) in higher yields than expected before the sale.

USA crude futures rose 0.5 percent to settle at $ 102.31 per barrel, driven by concerns about supply disruptions in Iran and North Sea. – Reuters

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NEW YORK

(16 February): The S & P 500 hit a nine-month high on Thursday, boosted by strong U.S. economic data and rising hopes of an agreement on a Greek rescue plan next week

.

The benchmark posted its strongest percentage gain in two weeks, recovering from several sessions. action back and forth

Sectors sensitive to economic growth

paced the market with technology [technology], materials and financial leaders in a day when all the 10 sectors of S & P ended higher.

Even with Thursday’s gains, equity indices remained in tight ranges, with the barrier of 1,360 investors cited for the S & P 500 as an impediment to further gains.

“We really need to beat through this area. We have been here before, we have failed here before,” said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.

The Dow Jones industrial average gained 123.21 points, or 0.96 percent, at 12,904.16. The Standard & Poor’s 500 rose 14.82 points, or 1.10 percent, to 1,358.05. The Nasdaq composite index rose 44.02 points, or 1.51 percent, to 2,959.85.

Bank shares rose, shaking a warning about possible cuts Moody credit ratings of 17 114 global and European financial institutions.

Greece hopes to get approval on Monday euro zone finance ministers to launch a debt swap with private bondholders, a Greek government spokesman said, moving to avoid a public nuisance by default. That led to the rise of the day, especially in financial stocks.

Among the threatened

ratings were those of Goldman Sachs, up 1.4 percent to $ 114.74, and Bank of America, 4 percent to $ 8.09. The KBW bank index rose 2.2 percent.

Actions

of Microsoft reached a 52-week high of $ 31.55, gaining interest for volume purchase. The stock was the most traded on the NASDAQ stock exchange, closing at $ 31.29, up 4 percent.

The CBOE volatility index fell 8.7 percent, its biggest drop since Dec. 9.

USA labor data, manufacturing and housing suggested the sustained momentum in key economic sectors and suggested that the recovery continues at a steady pace.

“We continue to get some economic indicators that reach a 4 and 5 high or low, depending on the indicator. It is quite clear that something is happening out there and the market is reacting to that,” Massocca said.

Apple shares, which largely dictated the direction of the stock market on Wednesday, finished at 0.9 percent, to $ 502.21. Trading in Apple stock exceeded 33 million, above its average of 19.5 million in the last 10 days.

According to a Chinese newspaper website, some cities in China have asked retailers to take the Apple iPad tablets from the shelves as part of a legal battle between a Chinese technology company and Apple for trademark issues.

The S & P closed at its highest level since May 2, while the Nasdaq closed at its highest level since December 2000 and the Dow ended at its highest level since May 2008 .

Volume was solid with about 7.33 billion shares traded on the NYSE, NYSE Amex and Nasdaq, slightly above the daily average of 7 billion.

Advancing stocks outnumbered declining ones on the NYSE by 2,269 to 752, while on Nasdaq, rose fell from 1,927 to 587 won. – Reuters

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Bursa KL (Feb 17):. The decline in Bursa Malaysia and regional markets could see the other investors on the sidelines until and unless the rescue plan for Greece is implemented and completed

Warning of the announcement of Moody’s s Investors threatening to reduce the ratings of 17 banks and securities firms with global capital markets transactions also confounded markets.

On Thursday, the FBM KLCI fell 10.81 points or 0.69% to 1,550.49, the lowest since the 02 February. The turnover was 2.19 million shares worth RM1.97 billion.

Please note the weakness in the broader market, where declining counters beat advancers 668 to 239, the largest margin in recent days, and put a hold on the recent rebound.

However, despite the cloud of uncertainty, there were several positive corporate news on the home front, which could attract a minor buying interest.

Among the actions to follow are Uzma Bhd [Uzma], Tradewinds PLANTATION [plantation] s Bhd, Hibiscus Petroleum Bhd, Tasek CORPORATION BHD [Tasek], CI Holdings Bhd and Maxis Bhd

Uzma

secured a RM350 million Petronas Carigali Sdn Bhd to offer and test equipment and services for drilling projects Petroliam Nasional Bhd. in the west. The contract is for a period of five years from 1 April 2012 to March 31, 2017.

Tradewinds

plantations indirect unit Mardec International Sdn Bhd is selling its 45% to R1 International Pte Ltd for U.S. $ 25.86 million.

R1 core activities are trading in natural rubber latex concentrate and synthetic rubber. R1 is a rubber company that specializes in world trade in commodities of rubber which operates in Malaysia, Thailand, Japan, China and India.

Hibiscus Petroleum has received approval from the Securities Commission for the acquisition of a participation grade of 35% in Lima Petroleum Plc for U.S. $ 55 million.

Tasek

income fell 57.1% to RM33.44 million in the fourth quarter ended December 31, 2011 from RM78.00 million a year ago, as a result of higher production costs.

Despite lower incomes, declared dividends totaling 86%. It consists of a special dividend normal income tax to 50% less than 25%. Preferred dividend of one ordinary dividend of 6% and 30% limit at one level

Revenue increased 25.11% to RM167.24 RM133.67

trillion dollars. Earnings per share was 26.98 sen against 48.88 sen.

CI Holdings Bhd posted a net profit of RM650.39 million in the second quarter ended December 31, 2011 from RM11.17 million a year ago, driven by the willingness of his group of Permanis Asahi to RM820.0 million in cash.

Its revenue declined slightly to RM11.35 million RM11.96 million a year ago due to a slowdown in the construction [CONSTRUCTION] sector. The improvement in profit before tax was mainly due to revenues from the sale of Permanis of RM688.43 million. It declared a dividend of RM4.60 per share for a total of RM653.20 million.

Maxis Bhd has proposed to conduct a RM2.45 billion Sukuk program Musharakah classified with a maturity of 10 years. Income, RM1.45 billion was used to refinance existing loans and RM1.0 billion for capital spending and / or working capital and / or general financing requirements.

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Bursa KL (Feb 16): Shares of COMPUGATES HOLDINGS BHD [COMPUGT], who had seen a very active trading lately, said Thursday he had recently submitted proposals for several solar projects in Sabah worth more than RM2 billion At midday, the stock price rose 0.5 sen to 11.5 sen, with 32.30 million shares done.

The FBM KLCI fell 11.39 points

or 0.73% to 1,549.91. Turnover was 1.16 billion shares valued at RM802.26 million. The broader market was weaker with 590 to 164 winners from the losers and 285 stocks unchanged.

Compugates said the result of the proposals was not yet known “and there is no certainty that the company was awarded the projects.”

issued the statement after a news report said the company hoped to capture more solar energy based projects in Sabah worth over RM2 billion and driving Compugates “growth for its renewable green energy solutions. Compugates The report also said was targeting larger projects in Sabah and would create a plant before about RM30 million.

On the ground, said Compugates Thursday the proposal would depend on securing projects and subject to the conditions of distribution and licensing and manufacturing agreement signed with the ETI Tech (M) Sdn. Bhd

“The board of directors the company has yet to decide on the implementation of the plant is preliminary at this time, “she said.

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Bursa KL (Feb 16): Malaysia’s fiscal deficit was reduced to 5% of gross domestic product (GDP) in 2011 from 5.6% in 2010

.

second finance minister, Ahmad Husni Hanadzlah said Thursday that the reduction in fiscal deficit exceeded government forecasts of 5.4% in the 2011 budget proposals.

He said the deficit reduction was achieved due to the strong financial position of the Federal Government, where revenues rose 16.1% to RM185.40 million in 2011 from RM159.70 million dollars in 2010.

Husni said the higher revenue was due to an increase of 29.4% in collection of direct taxes to RM102.20 million for the Board of Finance in 2011 compared to RM79 million in 2010. The collection was the highest recorded by the agency.

Indirect Tax collection by the Royal Customs Department of Malaysia (JKDM) increased by 7% to RM32.6 million (2010: RM30.5 billion), while income tax increased 0.8% to RM50.5 million (2010: RM50.1 bililon).

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Bursa KL:. Uzma Bhd [Uzma] has secured a RM350 million contract from Petronas Carigali Sdn Bhd to offer and test equipment and services for drilling projects Nasional Bhd Petroliam

Uzma said on Thursday its unit Uzma Engineering Sdn Bhd was awarded the contract to provide services in the West.

“The contract is for a period of five years from 1 April 2012 to March 31, 2017,” she said.

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Bursa KL (Feb 16): Tasek CORPORATION BHD [Tasek] s earnings fell 57.1% to RM33.44 million in the fourth quarter ended December 31, 2011 from RM78.00 million ago years, as a result of increased production costs.

However, despite lower revenues, declared dividends totaling 86%. It consists of a special dividend normal income tax to 50% less than 25%. Preferred dividend of one ordinary dividend of 6% and 30% limit at one level

said on Thursday, revenue rose 25.11% to RM133.67 million from RM167.24 million . Earnings per share was 26.98 sen against 48.88 sen.

Tasek Corp said the higher revenue was due to increased volume in the local cement and ready-mix concrete sales increased 22% and 21% respectively.

Increased average selling price in both segments also contributed to higher incomes. However, the scope for improvement for an average price higher sales was offset by higher production costs as a result of increased coal and electricity costs.

For the 12 months ended December 31, 2011, net profit declined 33.10% to RM154.19 million RM103.16 million a year ago. Revenue rose 3.5% to RM546.76 million RM566.19 billion.

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Sipitang, Sabah (16 February). Prime Minister Datuk Seri Najib Tun Razak said the petroleum products and gas will continue to evolve, it may become a new gold mine for the country

Citing the example of urea, ammonia Sabah (SAMUR) Petronas project, said that urea production would double value-added benefits to the country’s exports.

“When compared to the export of raw natural gas, we lose out on value-added benefits,” he told reporters after officiating the first stone for the project SAMUR today.

Najib, who is also Finance Minister said that 95 percent of the urea plant producing 1.2 million tons per year, would be exported, raking foreign exchange reserves some U.S. $ 4.8 billion annually.

He said under the National Key Economic Area, the oil and gas is expected to contribute an estimated RM241 billion by the GDP of the nation, annually, until 2020.

Najib also said the most complex oil and gas also planned to take off soon in Pengerang, Johor.

He said the project is being carried downstream out as oil and gas reserves deplete one day.

“The Petronas is also trying to increase the extraction rate of oil at more than 50 percent,” he added.

Samur The complex consists of an ammonia plant, urea plant and a granulation plant as well as integrated units of public services and berthing facilities.

The urea plant will produce 1.2 million metric tons per annum (mtpa) of granulated urea, while the ammonia plant produced 740,000 tonnes per year of liquid ammonia.

Today, PCG operates a plant of 750,000 tonnes per year of urea in Bintulu, Sarawak, and a plant of 683,000 tonnes per year of urea in Gurun, Kedah. – Bernama

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Bursa KL (Feb 16): CI Holdings Bhd posted a net profit of RM650.39 million in the second quarter ended December 31, 2011 from RM11.17 million a year ago, driven by the willingness of his group of Asahi Permanis to RM820.0 million in cash.

said Thursday that its revenue fell slightly to RM11.35 million RM11.96 million a year ago due to a slowdown in the construction [CONSTRUCTION] sector.

“The improvement in profit before tax is attributable largely to income received from investment of proceeds from the disposal and win in the elimination group of RM688.43 million,” she said.

CI Holdings said its earnings per share was 458.02 sen compared with 7.87 sen. It declared a dividend of RM4.60 per share for a total of RM653.20 million.

For the first half, earnings came to RM657.74 million from RM22.84 million in the previous corresponding period, while revenues fell 10.9% to RM20.43 RM22 93 million of millions of dollars.

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