share price


CCM shares up on news to reactivate Pasir Gudang plant

PETALING JAYA: Chemical Company of Malaysia Bhd's (CCM) share price rose two sen or 0.93% this morning, after its subsidiary CCM Chemical Sdn Bhd (CCMC) approved the reactivation of its Pasir Gudang Works 1 plant, in a bid to grow its chlor-alkali business.

As at 10.31am, the stock stood at RM2.18 with 63,400 shares changing hands. CCM has a market capitalisation of RM360 million.

Yesterday, the group said the plant reactivation is expected to increase the production capacity for chlor alkali products by about 50% and thereby increasing CCMC's market share in the chlor-alkali products.

The reactivation will cost the group RM68.5 million, which also includes equipment purchase and installation cost.

Parlo Tours completes RTO, lists on the ACE market

PETALING JAYA: Parlo Tours Sdn Bhd, travel management and services group in Malaysia, via a reverse takeover of Cybertowers Bhd has today joined the ACE Market of Bursa Malaysia Securities Berhad, under the name Parlo Bhd.

The group's share price jumped 8.5 sen or 85% to trade at 18.5 sen as at 3.54pm today, with some 23.9 million shares changing hands.

The Parlo group led by CEO Dani Yap acquired Parlo Tours for RM25.0 million, with a profit guarantee of not lower than RM8.6 million combined, for the financial years ended Dec 31, 2016 and Dec 31, 2017 (FYE16 and FYE17).

Based on the average profit guarantee of RM4.3 million per annum, this translates to a price-to-earnings ratio (PER) of 5.8x. The regularisation plan also included a private placement of 84 million Parlo shares at the issue price of RM0.10 per share, to raise funds, mainly for working capital of the group.

Moving forward, the Parlo group has on-going plans to further develop its leisure and corporate travel business through participation in more trade exhibitions and events, increasing advertising and promotional activities as well as expanding our sales and distribution channels.

In addition, the group has plans to increase their participation in e-commerce platform, enabling online travel reservations. This will allow the group to engage in cross border travels and position themselves for a larger market segment.

According to an Independent Market Research Report by Smith Zander International Sdn Bhd1, the global travel and tourism industry has been experiencing growth as international tourist (overnight visitors) arrivals stood at 1.2 billion in 2016, having grown from 950.2 million in 2010 at a compound annual growth rate (CAGR) of 4.5%, and is projected to increase by 3.3% annually between 2016 and 2030, to reach 1.80 billion visitors.

International tourism receipts, representing the expenditure by international tourists for and during tourism trips, stood at US$1,162.5 billion in 2016, having grown from US$919.0 billion in 2010 at a CAGR of 4.0%.

In Malaysia, tourist arrivals increased from 24.6 million persons in 2010 to 26.8 million persons in 2016, at a CAGR of 1.4%, as tourism receipts increased from RM56.5 billion to RM82.1 billion, at a CAGR of 6.4%, during the same period.

Parlo believes that the group will be able to leverage on the growth potential of the tourism industry to substantially increase its revenue and enhance the overall financial performance of the group.

Malaysia’s Khazanah raises US$320.8m in exchangeable sukuk

KUALA LUMPUR, Jan 18 — Malaysia’s state investor Khazanah Nasional Bhd said today it has raised US$320.8 million (RM1.2 billion) through a sukuk that is exchangeable into CITIC Securities Co Ltd’s Hong-Kong listed H-shares. CITIC…

Wall Street soars yet again; bitcoin crashes below US$10,000

NEW YORK, Jan 18 — Wall Street shot past a fresh set of a milestones yesterday as irrepressible investor appetite returned US stocks to their steady stream of record finishes. Across the Atlantic, however, European equities churned lower as…

Uncertainty surrounds UMWOG’s HWU utilisation

KUCHING: While analysts are mildly positive on UMW Oil and Gas Corporation Bhd (UMWOG) securing ane umbrella contract to provide hydraulic workover units (HWUs) to Petronas Carigali Bhd, uncertainty lies in its HWU utilisation rate. In a corporate update, AmInvestment Bank Bhd (AmInvestment Bank) said the umbrella contract could involve the use of all or […]

Global airline shares rose 29% in 2017, says IATA

KUALA LUMPUR (Jan 18): Global airline share prices rose 29% over the course of 2017, with sizeable gains for European and Asia Pacific airlines, according…

Affin Hwang Capital downgrades Gabungan AQRS, trims target to RM2.14


KUALA LUMPUR (Jan 17): Affin Hwang Capital Research has downgraded Gabungan AQRS Bhd (AQRS) to “Hold” at RM2.02 with a lower target price of RM2.14 (from RM2.16) given the limited upside. In a note today, the research house said the share price reached an all-time high of RM2.16 on Jan 8 January 2018. “Bernard Lim, CFO of AQRS who played an instrumental role in its listing in 2012, has left the company to pursue his other business interests. “Ow Yin Yee, the Financial Controller, was promoted as CFO to replaceRead More

Tenaga Nasional shares dip on nationwide fiberisation plan

PETALING JAYA: Tenaga Nasional Bhd's (TNB) share price fell as much as 10 sen or 0.6% in early trade after announcing its partnership with Telekom Malaysia Bhd (TM) to jointly develop an implementation plan to deliver on the government's nationwide fiberisation plan (NFP).

At 10.30am, the counter dropped 8 sen or 0.5% to RM15.80 on some 1.39 million shares done.

Meanwhile, TM shares were down slightly by 1 sen or 0.2% to RM5.99, with some 144,000 shares changing hands.

The colloboration is in line with the government's aspirations to drive Malaysia's digital economy, as envisioned under both the NFP as well as the High Speed Broadband (HSBB) projects.

A definitive agreement will be signed between TNB and TM upon finalisation of the commercial terms.

GE’s latest blast of bad news has Wall Street bracing for more (VIDEO)

NEW YORK, Jan 17 — General Electric Co’s disclosure of a larger-than-expected US$6.2 billion (RM24.5 billion) charge related to an old portfolio of long-term care insurance triggered the biggest drop in its shares in more than two months. And…

GE’s latest blast of bad news has Wall Street bracing for more

NEW YORK, Jan 17 — General Electric Co’s disclosure of a larger-than-expected US$6.2 billion (RM24.5 billion) charge related to an old portfolio of long-term care insurance triggered the biggest drop in its shares in more than two months. And…