These are some of important news in Malaysia
1. DELEUM BHD has recently acquired Rotary
Technical Services Sdn Bhd, which provides
servicing, repair, modification, upgrading
and installation of machinery and equipment
for RM10.7m. Deleum specialises in
providing a diverse range of products and
services for the O&G industry, particularly
the exploration and production of oil and
gas. The group had tendered for jobs worth
RM300m and a total of RM1bn worth of
contracts in hand which would keep it busy
until 2015.
2. NOTION VTEC BHD's wholly-owned unit
Notion Venture Sdn Bhd (NVSB) has
entered into two agreements to buy 60% of
nickel plating firm Autic Mekki Sdn Bhd for
RM3.4m. The acquisition was a costeffective
measure to keep the value of the
nickel plating process within the group and it
was expected to yield returns in two years.
Autic Mekki will be a wholly-owned
subsidiary of Notion Vtec upon the
completion of the purchase.
3. GLOBETRONICS TECHNOLOGY BHD
recorded a net profit of RM6.15m in
1QFY10, which is a significant jump
compared to RM204,000 in the
corresponding period last year. Its revenue
almost doubled to RM60.2m for the same
quarter from RM38.1m a year earlier. Basic
EPS rose to 2.33 sen versus 0.08 sen a
year earlier. The increase in net profit and
revenue is due to higher volume loadings
from all the group's customers as a result of
global economic recovery. The group
incurred shutdown and impairment loss
when it's China factory ceased operations in
the previous year.
4. ANCOM BHD's net loss narrowed to
RM1.05m for its 3QFY10 from RM10.54m a
year ago. Ancom attributed the smaller
quarterly net loss to higher selling prices, in
its industrial chemicals division. The
increase in product prices was reflected on
the 30% jump in revenue to RM373.73m
from RM286.68m in the previous corresponding period. Loss per share
shrunk to 0.48 sen from 4.87 sen a year
earlier. For the 9 months ended Feb 28,
2010, Ancom posted a net profit of
RM1.76m against a net loss of RM1.4m in
the same period last year. But revenue was
15% lower to RM1.13bn from RM1.33bn.
5. GENERAL CORPORATION BHD’s major
shareholders, Tan Sri Low Keng Huat and
his son Datuk Marco Low Peng Kiat, have
offered to acquire the group's entire
business and undertaking including its
assets and liabilities for RM505m,
representing RM1.70 per share.
-Jupiter
1. DELEUM BHD has recently acquired Rotary
Technical Services Sdn Bhd, which provides
servicing, repair, modification, upgrading
and installation of machinery and equipment
for RM10.7m. Deleum specialises in
providing a diverse range of products and
services for the O&G industry, particularly
the exploration and production of oil and
gas. The group had tendered for jobs worth
RM300m and a total of RM1bn worth of
contracts in hand which would keep it busy
until 2015.
2. NOTION VTEC BHD's wholly-owned unit
Notion Venture Sdn Bhd (NVSB) has
entered into two agreements to buy 60% of
nickel plating firm Autic Mekki Sdn Bhd for
RM3.4m. The acquisition was a costeffective
measure to keep the value of the
nickel plating process within the group and it
was expected to yield returns in two years.
Autic Mekki will be a wholly-owned
subsidiary of Notion Vtec upon the
completion of the purchase.
3. GLOBETRONICS TECHNOLOGY BHD
recorded a net profit of RM6.15m in
1QFY10, which is a significant jump
compared to RM204,000 in the
corresponding period last year. Its revenue
almost doubled to RM60.2m for the same
quarter from RM38.1m a year earlier. Basic
EPS rose to 2.33 sen versus 0.08 sen a
year earlier. The increase in net profit and
revenue is due to higher volume loadings
from all the group's customers as a result of
global economic recovery. The group
incurred shutdown and impairment loss
when it's China factory ceased operations in
the previous year.
4. ANCOM BHD's net loss narrowed to
RM1.05m for its 3QFY10 from RM10.54m a
year ago. Ancom attributed the smaller
quarterly net loss to higher selling prices, in
its industrial chemicals division. The
increase in product prices was reflected on
the 30% jump in revenue to RM373.73m
from RM286.68m in the previous corresponding period. Loss per share
shrunk to 0.48 sen from 4.87 sen a year
earlier. For the 9 months ended Feb 28,
2010, Ancom posted a net profit of
RM1.76m against a net loss of RM1.4m in
the same period last year. But revenue was
15% lower to RM1.13bn from RM1.33bn.
5. GENERAL CORPORATION BHD’s major
shareholders, Tan Sri Low Keng Huat and
his son Datuk Marco Low Peng Kiat, have
offered to acquire the group's entire
business and undertaking including its
assets and liabilities for RM505m,
representing RM1.70 per share.
-Jupiter
