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Property segment drives Tadmax to RM4.45m net profit in Q3

PETALING JAYA: Tadmax Resources Bhd reported a net profit of RM4.45 million for the third quarter ended Sept 30, 2018 compared with a net loss of RM19.82 million a year ago, driven by the property business segment.

In a filing with Bursa Malaysia, the group said its property business reported a pre-tax profit of RM8.43 million during the quarter. It was the only segment that reported a profit during the quarter.

Revenue for the quarter rose 79.20% to RM46.17 million from RM25.76 million a year ago, due mainly to contribution from the property business segment, which in turn was attributed to the higher percentage completion achieved by its Mizumi Residences project in Kepong.

For the nine-month period, the group's net profit plunged 90.34% to RM2.66 million from RM27.56 million a year ago while revenue jumped 86.36% to RM120.22 million from RM64.51 million.

Moving forward, Tadmax said the final quarter of the financial year ending Dec 31, 2018 will see contribution from the continued progress and performance of Mizumi Residences, which has already been 80% taken up.

However, the group said the energy business will not contribute to its near-term profitability as it would take about four years before commercial operation begins. Submission of the final technical and commercial proposal was made to the Energy Commission on July 31, 2018.

Recall that the company had entered into a heads of agreement on Sept 14, 2018 with Selangor government-linked Worldwide Holdings Bhd and Korea Electric Power Corp, which is expected to augur well for the group's power plant project in Pulau Indah.

As for the industrial supplies business, the group said the anticipated reduced activity in the construction market will be a challenge for the segment's revenue growth potential for the rest of 2018 and next year.


KLK shares dip as much as 20 sen after reporting lower net profit

PETALING JAYA: Kuala Lumpur Kepong Bhd (KLK), whose net profit halved in the fourth quarter ended Sept 30, 2018, saw its share price fall as much as 20 sen this morning.

The stock fell 20 sen to trade at a low of RM24.72 from its last adjusted closing price of RM24.92, making it one of the top losers in early trade. At midday, the stock was 6 sen or 0.24% lower at RM24.86 with 45,100 shares traded.

Yesterday, the plantation firm reported a 58.1% decline in net profit to RM101.5 million during the quarter from RM242.12 million a year ago, dragged by weak crude palm oil price.

Revenue was also down by 18.8% to RM4.19 billion from RM5.16 billion.


QSR teams up with KIP for drive-thru KFC outlets

KUALA LUMPUR: QSR Brands (M) Holdings Bhd, which has inked two agreements with Kepong Industrial Park (KIP) Group to develop new KFC drive-thru restaurants, plans to open a minimum of 67 new KFC outlets and another 60 Pizza Hut outlets nationwide over the next three years.

Speaking at the memorandum of understandings (MoUs) signing ceremony yesterday, QSR Brands managing director Datuk Seri Mohamed Azahari Mohamed Kamil said the group also planned to upgrade close to 20% of its stores for a fresh new look.

The group has over 810 KFC and 460 Pizza Hut outlets across Malaysia, Singapore, Cambodia and Brunei.

Moving forward, Mohamed Azahari said the group intends to continue collaborating with the renowned developer to keep the momentum of its restaurant growth across its retail centres going, adding it is now in talks with seven property developers.

Under the MoUs, the parties will jointly develop two new KFC drive-thru restaurants at KIP Group’s retail outlets, namely KIP Mall Desa Coalfields in Sungai Buloh and KIP Mart Lavendar in Senawang.

KIP Group’s CEO Valerie Ong said the partnership is expected to boost KIP Real Estate Investment Trust’s (KIP Reit) occupancy rate and footfall to 1,500 visitors per day once it opens its doors to the public in December next year.

She said with the extension of the new KFC drive-thru restaurant, the group’s KIP Mart Lavendar is expected to increase its occupancy rate by 4% to about 85%.

“The addition of KFC restaurants to the present tenant mix will increase our array of food and beverage outlets that will inevitably take both QSR Brands as well as KIP Group to the next level. We look forward to more successful collaborations in the near future,” Ong added.

To recap, QSR Brands and KIP Reit formed its first strategic collaboration last month via a tenancy agreement to establish a KFC restaurant at KIP Mart in Kota Tinggi, Johor.

KIP Reit, which has total assets under management of RM614.9 million as at Sep 30, 2018, is expected to surpass the RM1 billion mark by 2019.

KIP Reit’s portfolio consists of five KIP Marts properties located at Masai, Tampoi, Kota Tinggi, Senawang and Malacca as well as a retail mall in Bangi known as KIP Mall.

Asked to update on the group’s RM2 billion initial public offering (IPO) plans slated by this month, Mohamed Azahari said “work is in progress”.

According to a draft prospectus submitted to the Securities Commission Malaysia, QSR Brands is offering a total of 1.465 billion shares for sale in its IPO, which includes a public issue of 70 million new shares.

Proceeds from the IPO will mainly be used for the expansion of KFC and Pizza Hut businesses across the country within 12 months.


QSR inks deals with KIP for KFC drive-thru outlets

KUALA LUMPUR: QSR Brands (M) Holdings Bhd, which has inked two agreements with Kepong Industrial Park (KIP) Group to develop new KFC drive-thru restaurants, plans to open a minimum of 67 new KFC outlets and another 60 Pizza Hut outlets nationwide over the next three years.

Speaking at the memorandum of understandings (MoUs) signing ceremony yesterday, QSR Brands managing director Datuk Seri Mohamed Azahari Mohamed Kamil said the group also planned to upgrade close to 20% of its stores for a fresh new look.

The group has over 810 KFC and 460 Pizza Hut outlets across Malaysia, Singapore, Cambodia and Brunei.

Moving forward, Mohamed Azahari said the group intends to continue collaborating with the renowned developer to keep the momentum of its restaurant growth across its retail centres going, adding it is now in talks with seven property developers.

Under the MoUs, the parties will jointly develop two new KFC drive-thru restaurants at KIP Group’s retail outlets, namely KIP Mall Desa Coalfields in Sungai Buloh and KIP Mart Lavendar in Senawang.

KIP Group’s CEO Valerie Ong said the partnership is expected to boost KIP Real Estate Investment Trust’s (KIP Reit) occupancy rate and footfall to 1,500 visitors per day once it opens its doors to the public in December next year.

She said with the extension of the new KFC drive-thru restaurant, the group’s KIP Mart Lavendar is expected to increase its occupancy rate by 4% to about 85%.

“The addition of KFC restaurants to the present tenant mix will increase our array of food and beverage outlets that will inevitably take both QSR Brands as well as KIP Group to the next level. We look forward to more successful collaborations in the near future,” Ong added.

To recap, QSR Brands and KIP Reit formed its first strategic collaboration last month via a tenancy agreement to establish a KFC restaurant at KIP Mart in Kota Tinggi, Johor.

KIP Reit, which has total assets under management of RM614.9 million as at Sep 30, 2018, is expected to surpass the RM1 billion mark by 2019.

KIP Reit’s portfolio consists of five KIP Marts properties located at Masai, Tampoi, Kota Tinggi, Senawang and Malacca as well as a retail mall in Bangi known as KIP Mall.

Asked to update on the group’s RM2 billion initial public offering (IPO) plans slated by this month, Mohamed Azahari said “work is in progress”.

According to a draft prospectus submitted to the Securities Commission Malaysia, QSR Brands is offering a total of 1.465 billion shares for sale in its IPO, which includes a public issue of 70 million new shares.

Proceeds from the IPO will mainly be used for the expansion of KFC and Pizza Hut businesses across the country within 12 months.


QSR Brands to invest RM1b for new KFC, Pizza Hut outlets

KUALA LUMPUR: QSR Brands (M) Holdings Bhd, which today inked two agreements with Kepong Industrial Park (KIP) Group to establish new KFC drive-thru restaurants, plans to invest over RM1 billion within the next five years for new KFC and Pizza Hut outlets nationwide.

Speaking at the memorandum of understandings (MoUs) signing ceremony today, QSR Brands managing director Datuk Seri Mohamed Azahari Mohamed Kamil said the group is looking to open 67 new KFC outlets and another 60 Pizza Hut outlets over the next three years.

Currently, the group has over 810 KFC and 460 Pizza Hut outlets across Malaysia, Singapore, Cambodia and Brunei.

Under the MoUs, QSR Brands will develop two new KFC-drive thru restaurants at KIP Group’s retail outlets, namely KIP Mall Desa Coalfields in Sungai Buloh and KIP Mart Lavendar in Senawang.

KIP Group’s CEO Valerie Ong said the partnership is expected to boost KIP Real Estate Investment Trust’s (KIP Reit) occupancy rate and footfall to 1,500 visitors per day once it opens its doors to the public in December next year.

KIP Reit currently has total assets valued at RM614.9 million as at end September and is expected to surpass the RM1 billion mark by 2019.


Still not a good quarter for planters

KUCHING: Malaysian-based planters are likely to see continued earnings pressure in the third quarter of 2018 on weaker crude palm oil (CPO) price and production. Integrated players with oleochemical divisions will fare relatively better, said researchers with Maybank Investment Bank Bhd (Maybank IB Research), benefiting from low raw material costs. To note, Malaysia Palm Oil […]


KLCI tumbles 2.63%, falls below 1,700-level

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KUALA LUMPUR (Oct 11): The FBM KLCI tumbled 2.63% in early trade this morning and slipped below the crucial 1,700-point threshold , tracking widespread losses at most regional markets. At 9.05am, the FBM KLCI lost 44.51 points to 1,690.67. The top losers included Nestle (M) Bhd, Kuala Lumpur Kepong Bhd, British American Tobacco (M) Bhd, Panasonic Manufacturing Malaysia Bhd, United Plantations Bhd, Petron Malaysia Refining & Marketing Bhd, Tenaga Nasional Bhd, Hong Leong Bank Bhd, Malaysian Pacific Industries Bhd and Dutch Milk Industries Bhd. Asian share markets sank on ThursdayRead More


Construction stocks hit, Gamuda falls the most

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KUALA LUMPUR: Construction stocks took a hit on Monday with Gamuda taking the brunt of the selling pressure as the government revised the Mass Rapid Transit (MRT) 2 project. At 5pm, the KLCI was down 1.4 points or 0.08% to 1,775.75. Turnover was 2.37 billion shares valued at RM1.82bil. Decliners beat advancers nearly four to one with 745 losers to 195 gainers and 323 counters unchanged. Adding to the doom and gloom was the selloff of the China markets, which resumed trading after a week-long break. Shanghai’s main index resumedRead More


Six OCBC branches in the Klang Valley to open on Saturdays

KUCHING: B eginning today, selected OCBC Bank (Malaysia) Berhad (OCBC Bank) and OCBC Al-Amin Bank Berhad (OCBC Al-Amin) branches in the Klang Valley will open every Saturday from 10am to 2.30pm for all banking services except cheque clearance and remittances. The six participating branches for the Saturday at OCBC initiative – OCBC Bank in Kepong, […]


Wall Street worries weigh on KLCI, broader market cautious

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KUALA LUMPUR:  The overnight decline on Wall Street pushed the FBM KLCI deeper into the red early Friday with the broader market turning more cautious but the firmer crude oil prices could support oil and gas stocks. At 9.10am, the FBM KLCI was down 8.42 points or 0.47% to 1,781.69. Turnover was 146.23 million valued at RM68.61mil. Decliners beat advancers 258 to 70 while 162 counters were unchanged. Kenanga Research said chart-wise, the KLCI had broken below the 50-day SMA on Thursday which “we believe there might be more short-termRead More