MESSAGE FROM THE CEO
Conflicts of Interest – Directors of PLCs Who Sit on Boards of Institutional Investors that Invest in the Directors’ PLCs
The concept of ‘conflict of interest’ is premised on one of the limbs of natural justice…’no man shall sit in judgment of his own course’ (Nemo judex in causa sua in Latin).
When it comes to ‘conflict of interest’, it is equally important to avoid both actual and perceived ‘conflict of interests’. This is because perception shapes reality and sometimes, that very perception becomes the reality.
It is a conflict of interest when directors of Public Listed Companies (PLCs) sit on boards (or committees) of institutional investors, who in turn have shareholdings in the said PLC, from which that director comes from.
It does not matter whether that director can influence the institutional investors’ dealings decisions when it comes to the said PLC’s shares…it is the perception that matters. Of course, that director can abstain from the institutional investors’ deliberations when discussions are held pertaining to that PLC.
But surely, it is much better to completely avoid ‘conflicts of interest’, whether real or perceived, by not accepting any board positions in institutional investors who have interests in their PLC.
Where a director of a PLC sits on the board of an institutional investor, and the institutional investor in turn deals in the shares of the said PLC, minority shareholders are often left wondering whether the share price of the PLC is due to actual market forces, (price discovery), or due to the investment/divestment decisions of the institutional investor. Such wonderings are especially pronounced if that PLC enjoys richer valuations, e.g. higher PE ratios, compared to the PLC’s competitors.
Will there be no conflict of interest if the institutional investor does not invest in the shares of the said director’s PLC? To some extent perhaps, but not completely. The said director may influence his competitors share prices through the institutional investor’s share dealing decisions.
It is better for directors of PLCs to completely avoid sitting on the boards (and committees) of institutional investors so that there is no conflict of interest – whether real or perceived.
It is especially crucial for a director to avoid such directorships at institutional investors where the institutional investor also holds shares in the director’s PLC. In such instances, the conflict of interest becomes so much more obvious and real and breaches the fundamentals of natural justice…nemo judex in causa sua absolutely.
MSWG’S AGM WEEKLY WATCH 19 November – 23 November 2018
For this week, the following are the AGMs/EGMs of companies which are in the Minority Shareholders Watch Group’s (MSWG) watch list.
The summary of points of interest is highlighted here, while the details of the questions to the companies can be obtained via MSWG’s website at www.mswg.org.my.
|
Date & Time |
Company |
Venue |
|
21.11.18 (Wed) |
Sime Darby Plantation Bhd |
Sime Darby Convention Centre, 1A Jalan Bukit Kiara 1, KL |
|
22.11.18 (Thur) |
Imaspro Corporation Bhd |
Kelab Golf Sultan Abdul Aziz Shah, No. 1, Rumah Kelab, Shah Alam |
|
22.11.18 (Thur) |
Mikro MSC Bhd |
Sime UEP Industrial Park, Shah Alam |
|
22.11.18 (Thur) |
Oriental Interest Berhad |
Dewan Bankuet Jubli Emas, Royal Kedah Club, Pumpong, Alor Setar, Kedah |
|
22.11.18 (Thur) |
Lion Forest Industries Bhd |
Lion Office Tower, No. 1 Jalan Nagasari, KL |
|
23.11.18 (Fri) |
Parkson Holdings Bhd |
Lion Office Tower, No. 1 Jalan Nagasari, KL |
|
One of the points of interest to be raised: |
|
|
Company |
Points/Issues to Be Raised |
|
Sime Darby Plantation Bhd |
Segment information on page 265 of the Annual Report shows that the Upstream Liberia registered a loss of RM183.8 million in FY2018. The Group is having 220,000 hectares of landbank in Liberia (Refer to page 51 of the Annual Report) and only 10,549 hectares are planted. 93% of the palm trees are aged between 4 to 8 years as shown on page 46 of the Annual Report. (a) What is the development plan for the landbank in Liberia? (b) With the relative young trees, when will Liberia upstream be expected to turn-around? (c) What are the main challenges and risks for the operations in Liberia? |
|
Imaspro Corporation Bhd |
As disclosed in Note 29 on page 94 of the Annual Report, the revenue from the Vietnam market has decreased from RM3.1 million in FY2017 to RM1.9 million while the revenue from the Indonesian market has decreased from RM16 million in FY2017 to RM11.7 million in FY2018.
|
|
Mikro MSC Bhd |
On page 8 of the Annual Report, it is reported that the Group revenue in FY2018 was lower than that in FY2017 by 5.2%. The decline in revenue was due to lower total sales volume predominantly in the local market. (a) What was the reason for the lower sales volume in the local market and how would the Company be able to address the problem and increase the sales in FY2019? (b) Are there many competitors in the local market and does the Company have strong competitive advantages and how does it rank in market share? (c) Apart from the primary markets in Malaysia and Vietnam, would the Company be able to grow its exports significantly in the remaining 20 over countries and what are the plans? |
|
Lion Forest Industries Bhd (AGM) |
On page 39 of the Annual Report, the Company states that it will continue to identify key growth segments in the business and expect further progress in our existing business operations. What are the key growth segments that the Company has identified and what is the progress that we can expect from its existing business operations? |
|
Oriental Interest Berhad |
The Company recently acquired additional stakes in Aturan Cemerlang Sdn. Bhd (“ACSB”) and Brilliant Alliance Sdn Bhd (“BASB”), thereby raising the Company’s equity interest in ACSB and BASB to 87.63% and 75.36% respectively. (a) Please explain the reasons for the acquisition of ACSB and BASB; (b) What was the basis of valuation of the acquired shares? (c) Who are the sellers of ACSB and BASB shares? |
|
Parkson Holdings Bhd |
As shown on page 33 of the Annual Report (5 Years Group Financial Highlights), the Group has been recording declining gross sales proceeds (though revenue has been increasing) and also continuous net losses since FY2016. (a) It would be good if the Board could explain to shareholders the difference between gross sales proceeds and revenue and why the former decreased while the latter increased? (b) What measures have been taken to address the continuing losses and any concrete results seen and when is the Group expected to turn profitable? |
MSWG’S WATCHLIST
MULTI SPORTS HOLDINGS LTD ("MSPORTS" OR "THE COMPANY")
PRACTICE NOTE 17 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
The Board of Directors of MSPORTS wishes to announce that the 12 months period to submit a regularisation plan under the Company’s PN17 status expired on 13 November, 2018. The Company is now awaiting Bursa Malaysia Securities Berhad (“Bursa Securities”)’s decision on the application for an extension of time of six (6) months to submit a regularization plan which was submitted to Bursa Securities on 31 October 2018.
(Source: MSPORTS’ announcement on Bursa Malaysia’s website on 14 November 2018)
STAR MEDIA GROUP BERHAD (STAR or the Company)
PROPOSED DISPOSAL OF THE COMPANY'S LAND KNOWN AS H.S. (D) 259880, NO. LOT PT 16 SEKSYEN 13, BANDAR PETALING JAYA, DAERAH PETALING, NEGERI SELANGOR TO JAKS ISLAND CIRCLE SDN BHD
[Unless otherwise defined, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 19 August 2011, 20 February 2018, 28 February 2018, 8 March 2018, 12 July 2018, 13 July 2018, 17 July 2018, 23 July 2018, 25 July 2018, 27 July 2018, 30 July 2018, 1 August 2018, 26 September 2018, 7 November 2018 and 8 November 2018]
Reference is made to the earlier announcements as indicated above.
The Court of Appeal has today dismissed both appeals filed by Jaks against the High Court Orders dated 12 July 2018 with costs.
(Source: STAR’s announcement on Bursa Malaysia’s website on 14 November 2018)
MINETECH RESOURCES BERHAD ("MRB" OR "THE COMPANY")
LETTER OF AWARD FROM JSK INDUSTRIES SDN BHD TO MINETECH CONSTRUCTION SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY FOR INFRASTRUCTURE WORK AND ASSOCIATED WORK (SUB-CONTRACT) AT KLANG, SELANGOR DARUL EHSAN
The Board of Directors of MRB (“Board”) is pleased to announce that Minetech Construction Sdn Bhd ("MCSB"), a wholly-owned subsidiary of MRB, had on 13 November 2018, accepted the Letter of Award (“LOA”) to supply labour and material inclusive of all necessary plant, machinery and equipment to construct and complete the infrastructure works located at Klang, Selangor Darul Ehsan at a contract value of RM11,000,000.00 (“Sub-Contract”).
The Sub-Contract commenced from 19 October 2018 and is expected to complete by 18 July 2019.
(Source: MRB’s announcement on Bursa Malaysia’s website on 14 November 2018)
DAIBOCHI BERHAD (formerly known as Daibochi Plastic And Packaging Industry Bhd (Daibochi)
NOTIFICATION OF A PROPOSED DISPOSAL BY A GROUP OF INDIVIDUAL SHAREHOLDERS WHO COLLECTIVELY HOLD 42.41% EQUITY INTEREST IN THE COMPANY (VENDORS) TO SCIENTEX BERHAD (SCIENTEX)
The Board of Directors of Daibochi Berhad (formerly known as Daibochi Plastic and Packaging Industry Berhad) (“Board”) wishes to announce that the Board has today received a letter (“Notification Letter”) from certain shareholders of Daibochi (collectively referred to as the “Vendors”) informing the Board that the Vendors have entered into a heads of agreement (“HoA”) with Scientex Berhad (“Scientex”) for the proposed disposal of 139,062,766 ordinary shares in Daibochi (“Sale Shares”) representing 42.41% of the total number of issued shares in Daibochi to Scientex (“Proposed Disposal”).
(Source: Daibochi’s announcement on Bursa Malaysia’s website on 14 November 2018)
SCIENTEX BERHAD ("SCIENTEX" OR THE "COMPANY")
HEADS OF AGREEMENT IN RELATION TO THE PROPOSED ACQUISITION OF 139,062,766 ORDINARY SHARES IN DAIBOCHI BERHAD (FORMERLY KNOWN AS DAIBOCHI PLASTIC AND PACKAGING INDUSTRY BERHAD) ("DAIBOCHI")
On behalf of the Board of Directors of Scientex, RHB Investment Bank Berhad is pleased to announce that the Company is proposing to enter into a Heads of Agreement ("HOA") with certain shareholders of Daibochi (collectively be referred to as the “Vendor(s)”) for the proposed acquisition of 139,062,766 ordinary shares in Daibochi ("Sale Share(s)"), representing 42.41% of the total number of issued shares in Daibochi from the Vendors for a total purchase consideration of RM222,500,425.60, (equivalent to RM1.60 per Sale Share) to be satisfied entirely by issuance of new ordinary shares in Scientex ("Proposed Acquisition”)
(Source: Scientex’s announcement on Bursa Malaysia’s website on 14 November 2018)
PERDANA PETROLEUM BERHAD (PPB OR THE COMPANY)
LETTER OF AWARD FOR THE PROVISION OF ONE (1) ANCHOR HANDLING TUG SUPPLY (AHTS) FOR PHASE 2 D35 DRILLING CAMPAIGN OFFSHORE SARAWAK
Reference is made to the Company's announcement dated 13 November 2018 where the description of the announcement is erroneous, it should read as "Letter of Award for the Provision of One (1) Anchor Handling Tug Supply (AHTS) for Phase 2 - D35 Drilling Campaign Offshore Sarawak" and not "Letter of Award For The Provision of One (1) Platform Supply Vessel & Two (2) Anchor Handling Tug Supply (AHTS) For Phase 2 - D35 Drilling Campaign Offshore Sarawak"
(Source: PPB’s announcement on Bursa Malaysia’s website on 14 November 2018)
IKHMAS JAYA GROUP BERHAD ("IJGB" OR "THE COMPANY")
SETTLEMENT AGREEMENT DATED 17 APRIL 2017 BETWEEN D.J. DESIGN & SUPPLIERS SDN. BHD. ("DJ DESIGN"), SOLID PROMENADE SDN. BHD. AND IKHMAS JAYA SDN. BHD. ("IJSB"), A WHOLLY OWNED SUBSIDIARY OF IJGB
Further to the announcement dated 1 October 2018, the Company wishes to provide an update on the progress of the debt settlement by DJ Design pertaining to the outstanding amount owing by DJ Design to the Company.
Since our last announcement, DJ Design have paid a further sum of RM2,169,000 towards settlement of the cash portion and agreed that it will make good its other commitment to IJSB as follows:
(a) cash payment of RM15,699,000 by end of this year i.e. December 2018; and
(b) transfer of properties worth RM37,809,000 free from any encumbrances by end of this year i.e. December 2018, failing which IJSB shall proceed to take legal action to recover the outstanding sum.
(Source: IJGB’s announcement on Bursa Malaysia’s website on 13 November 2018)
PERDANA PETROLEUM BERHAD (PPB OR THE COMPANY)
LETTER OF AWARD FOR THE PROVISION OF ONE (1) PLATFORM SUPPLY VESSEL & TWO (2) ANCHOR HANDLING TUG SUPPLY (AHTS) FOR PHASE 2 D35 DRILLING CAMPAIGN OFFSHORE SARAWAK INTRODUCTION
The Board of Directors of Perdana Petroleum Berhad (“PPB” or the “Company”) is pleased to announce that its wholly owned subsidiary, Perdana Nautika Sdn Bhd (“PNSB”) has on 13 September 2018 received the letter of award from ROC Oil (Sarawak) Sdn. Bhd, for the provision of one (1) AHTS for Phase 2 – D35 Drilling Campaign Offshore Sarawak (the “Contract”).
The Contract commenced on 20 September 2018 for duration of three hundred eighty (380) days with extension option of thirty (30) days. The contract value is RM16.195 million, including the contract value for the option period.
The Contract shall enable PNSB to provide the vessels, crews and associated equipment for continuous 24-hour operations.
(Source: PPB’s announcement on Bursa Malaysia’s website on 13 November 2018)
WEIDA (M) BERHAD
SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE OF WEIDA PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 ("SCR")
The terms used herein shall have the same meaning as those defined in the announcement made on 29 January 2018, unless otherwise stated.
We refer to the announcements dated 29 January 2018, 13 February 2018, 5 March 2018, 9 March 2018, 13 March 2018, 12 April 2018, 6 September 2018, 9 October 2018 and 11 October 2018 in relation to the SCR.
On behalf of the Board, RHB Investment Bank Berhad wishes to announce that the High Court of Malaya had on 13 November 2018 granted an order confirming the reduction of share capital in accordance with Section 116 of the Act (“High Court Order”). All the conditions of the SCR have been satisfied.
The SCR will take effect upon the lodgement of an office copy of the High Court Order with the Registrar of Companies in Malaysia pursuant to Section 116(6) of the Act.
The entitlement date in respect of the SCR will be announced in due course.
(Source: Weida’s announcement on Bursa Malaysia’s website on 13 November 2018)
SUNWAY CONSTRUCTION GROUP BERHAD ("SUNCON")
AWARD OF PROJECT BY AKITEK AKIPRIMA SDN BHD ON BEHALF OF SUNWAY VELOCITY TWO SDN BHD
The Board of Directors of SunCon is pleased to announce that Sunway Construction Sdn Bhd (“SCSB”), a wholly-owned subsidiary of SunCon, has on 13 November 2018, accepted the Letter of Award issued by Akitek Akiprima Sdn Bhd on behalf of Sunway Velocity Two Sdn Bhd (“SVTSB”), in respect of the Main Building and Associated External Works for the Proposed Commercial Development of Sunway Velocity Two – Plot A Project which contains the followings:
Phase 1A - Serviced Apartment of 53 storeys (Block B1) and Podium Carpark;
Phase 1B - Serviced Apartment of 53 storeys (Block B2); and
Phase 1C - Office Block of 28 storeys (Block A1)
on Lot No. 135 (PT 486 & PT 487), Jalan Peel, Seksyen 90, Bandar Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, for a total contract sum of RM352,057,869.94 (“Project”). SVTSB is an indirect subsidiary of Sunway Berhad (“Sunway”), which in turn is a major shareholder of SunCon.
The Project is for a period of 37 months from the date of commencement, i.e. 15 November 2018, and is expected to be completed by 14 December 2021. The Project is expected to contribute positively to the earnings of SunCon from the financial year ending 31 December 2019 onwards.
Upon securing the Project, SunCon’s new order book secured to-date amounts to RM1.35 billion.
The Project is subject to normal construction risk of materials price fluctuation. However, with the past experiences and expertise of SCSB in construction projects, this risk could be mitigated.
The Project is a related party transaction by virtue of Evan Cheah Yean Shin being a Director and major shareholder of SunCon as well as director of several subsidiaries and major shareholder of Sunway. Tan Sri Dato’ Seri Dr Jeffrey Cheah Fook Ling, Puan Sri Datin Seri (Dr) Susan Cheah Seok Cheng, Sarena Cheah Yean Tih, Adrian Cheah Yean Sun, Sungei Way Corporation Sdn Bhd and Active Equity Sdn Bhd are major shareholders of both SunCon and Sunway as well as person connected to Evan Cheah Yean Shin. Dato’ Chew Chee Kin is a Director of both SunCon and Sunway.
SunCon has obtained its shareholders’ mandate for such recurrent related party transactions entered into or to be entered into by SunCon and its subsidiaries with Sunway and its group of companies at its last annual general meeting held on 20 June 2018.
(Source: SUNCON’s announcement on Bursa Malaysia’s website on 13 November 2018)
AE Multi Holdings Berhad ("AEM" or "the Company")
PROPOSED DISPOSAL OF PROPERTY BY AE CORPORATION (M) SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF AEM FOR A TOTAL CASH CONSIDERATION OF RM10,000,000.00
Further to the announcement dated 6 June 2018 (“Initial Announcement”) and 8 June 2018 in relation to the above subject matter.
Unless otherwise stated, the definitions used throughout this announcement shall have the same meaning as defined in the Initial Announcement.
The Board of Directors of AEM wishes to announce that the Proposed Disposal has been completed.
(Source: AEM’s announcement on Bursa Malaysia’s website on 13 November 2018)
UNISEM (M) BERHAD ("UNISEM" OR "THE COMPANY") –
PRE-CONDITIONAL VOLUNTARY CONDITIONAL TAKE-OVER OFFER
(Unless otherwise stated, all abbreviations used herein shall have the same meaning as defined in the pre-conditional announcement dated 12 September 2018 in relation to the voluntary conditional take-over offer to be undertaken by Huatian Electronics Group (HK) Limited, Huatian Technology (Malaysia) Sdn Bhd, Mr John Chia Sin Tet, Mr Alexander Chia Jhet-Wern, Jayvest Holdings Sdn Bhd and SCQ Industries Sdn Bhd (formerly known as SCQ Industries Berhad) (collectively referred to as “Joint Offerors") to acquire all the issued shares in the Company, not already held by the Joint Offerors, in accordance with the Rules on Take-Overs, Mergers and Compulsory Acquisitions ("Offer"))
We refer to the announcements dated 12 September 2018, 28 September 2018 and 2 November 2018 in relation to the Offer.
We wish to announce that the Company has today received the attached press notice from Maybank IB, on behalf of the Joint Offerors informing the Company that the following Pre-Conditions to the Offer, have been fulfilled:
(i) issuance by Gansu Department of Commerce, People’s Republic of China (“PRC”) of the Overseas Investment Certificate for Enterprises for the Offer, and
(ii) recordation for the Offer from the National Development and Reform Commission of the PRC.
Please refer to the attached press notice for further details.
This announcement does not indicate or amount to a firm intention by the Joint Offerors to undertake the Offer, and accordingly, there can be no certainty that the Offer will be undertaken even if the remaining Pre-Conditions are satisfied no later than the Long-Stop Date.
(Source: Unisem’s announcement on Bursa Malaysia’s website on 12 November 2018)
ACOUSTECH BERHAD ("ACOUSTECH" OR THE "COMPANY")
PROPOSED ACQUISITION BY TERAS ECO SDN BHD ("TERAS ECO"), A WHOLLY-OWNED SUBSIDIARY OF ACOUSTECH, OF THE DEVELOPMENT RIGHTS AND INTEREST HELD BY JAYA MAPAN SDN BHD ("JAYA MAPAN") IN A BLOCK OF 44-STOREY OF SERVICE APARTMENTS FOR A TOTAL PURCHASE CONSIDERATION OF RM18.0 MILLION TO BE SATISFIED THROUGH A COMBINATION OF CASH AND ORDINARY SHARES IN ACOUSTECH ("PROPOSED ACQUISITION")
We refer to the announcements dated 5 November 2018 and 8 November 2018 in relation to the Proposed Acquisition. Unless otherwise defined, the definitions set out in the previous announcements shall apply herein.
On behalf of the Board, UOBKH wishes to announce that Bursa Securities has, vide its letter dated 12 November 2018, approved the listing and quotation of 12,428,840 Consideration Shares to be issued as part payment of the Purchase Consideration for the Proposed Acquisition.
The approval by Bursa Securities for the issuance of the Consideration Shares is subject to the following conditions:-
Acoustech and UOBKH must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities pertaining to the implementation of the Proposed Acquisition;
UOBKH to inform Bursa Securities upon the completion of the Proposed Acquisition; and
UOBKH to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Acquisition is completed.
(Source: Acoustech’s announcement on Bursa Malaysia’s website on 12 November 2018)
GAS MALAYSIA BERHAD
JOINT VENTURE AGREEMENT BETWEEN GAS MALAYSIA VENTURE 1 SDN BHD AND SIME DARBY ENERGY SOLUTIONS SDN BHD (FORMERLY KNOWN AS SIME DARBY OFFSHORE ENGINEERING SDN BHD) - FULFILLMENT OF CONDITIONS PRECEDENT
This announcement should be read in conjunction with the earlier announcement made on 7 November 2017. Unless otherwise defined, the terms used in this announcement shall have the same meaning as those defined in the announcement dated 7 November 2017.
Reference is made to Gas Malaysia Berhad’s (“Gas Malaysia” or “the Company”) previous announcements dated 7 November 2017 and 9 November 2017, in respect of the Joint Venture Agreement (“JVA”) entered into between Gas Malaysia Venture 1 Sdn Bhd and Sime Darby Energy Solutions Sdn Bhd (formerly known as Sime Darby Offshore Engineering Sdn Bhd) (“SDES”) to undertake the business of provision of electricity, steam, chilled water, hot water, hot air and/or any other utilities to customer through Combined Heat and Power System to industries in Malaysia through the incorporation of a joint venture company.
The Company wishes to announce that the Conditions Precedent under the JVA have been fulfilled on 12 November 2018. Accordingly, the JVA has become unconditional on even date.
(Source: Gas Malaysia’s announcement on Bursa Malaysia’s website on 12 November 2018)
MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB" OR THE "COMPANY")
MUTUAL TERMINATION OF THE CONCESSION AWARDED BY THE GOVERNMENT OF MALAYSIA ("GOM") TO MRCB LINGKARAN SELATAN SDN BHD ("MLSSB") FOR THE DESIGN, CONSTRUCTION, MANAGEMENT, OPERATION AND MAINTENANCE OF THE EASTERN DISPERSAL LINK EXPRESSWAY ("EDL") ("EDL CONCESSION") ("CONCESSION TERMINATION")
On behalf of the Board of Directors of MRCB, CIMB Investment Bank Berhad wishes to announce that MLSSB, a wholly-owned subsidiary of MRCB Prasarana Sdn Bhd, which in turn is a wholly-owned subsidiary of MRCB, has entered into a termination and settlement agreement in relation to the Concession Termination with the GOM today.
(Source: MRCB’s announcement on Bursa Malaysia’s website on 12 November 2018)
MSWG’S VIGILANCE
Listing of PN17 and GN3 companies
PN17 Companies
- AMTEK HOLDINGS BERHAD
- APFT BERHAD
- ASIA KNIGHT BERHAD
- BERJAYA MEDIA BERHAD
- BERTAM ALLIANCE BERHAD
- CHINA AUTOMOBILE PARTS HOLDINGS LIMITED
- DAYA MATERIALS BERHAD
- EKA NOODLES BERHAD
- HB GLOBAL LIMITED
- KINSTEEL BHD
- KUANTAN FLOUR MILLS BERHAD
- MAA GROUP BERHAD
- MALAYSIA PACIFIC CORPORATION BERHAD
- MAXWELL INTERNATIONAL HOLDINGS BERHAD
- MULTI SPORTS HOLDINGS LTD
- PERISAI PETROLEUM TEKNOLOGI BERHAD
- PETROL ONE RESOURCES BERHAD
- STONE MASTER CORPORATION BERHAD
- SUMATEC RESOURCES BERHAD
- TH HEAVY ENGINEERING BERHAD
- UTUSAN MELAYU (MALAYSIA) BHD
- YFG BERHAD
GN3 Companies
- G NEPTUNE BERHAD
- IDIMENSION CONSOLIDATED BERHAD
- WINTONI GROUP BERHAD
Please refer to the link below for the latest status of the company.
http://www.bursamalaysia.com/market/listed-companies/list-of-companies/pn17-and-gn3-companies/
LOCAL NEWS AND DEVELOPMENTS
Malaysian palm oil price struggles near 3-year low as stockpiles swell
Azmin: Foreign investors positive on Malaysia
Sime Plantation ratings affirmed
https://www.thestar.com.my/business/business-news/2018/11/16/sime-plantation-ratings-affirmed/
Crowdfunding platform to cater for some homebuyers
Scientex at 10-month high on positive view on takeover
Sime Darby bullish on industrial division ops
Petron earnings down on low refining margins
Utusan selling KL land for RM18mil
https://www.thestar.com.my/business/business-news/2018/11/16/utusan-selling-kl-land-for-rm18mil/
Nod for National Housing Policy
https://www.thestar.com.my/business/business-news/2018/11/16/nod-for-national-housing-policy/
Economy expands at 4.4% in Q3, slower on-year
Petronas Chemicals Q3 net profit jumps nearly 38% to RM1.25b
US-China trade war could reduce Malaysia's exports by 2.7 percentage pts
Malaysia's external debt fell to 66.2% of GDP at end Q3 2018
Windfall for AirAsia investors? Share rises 13.8%
https://www.thestar.com.my/business/business-news/2018/11/16/windfall-for-airasia-investors/
Mahathir: RM30bil is nothing for Petronas
https://www.thestar.com.my/business/business-news/2018/11/15/pm-rm30bil-is-nothing-for-petronas/
Malaysian palm oil price falls below 2,000 ringgit for 1st time in 3 years
Upside risk for ringgit still remains, says AmBank Research
RAM to withdraw rating of MRCB Southern Link RM845m senior sukuk
Tatt Giap shares rise as new substantial shareholder revealed
Oil, commodities price dampener for Malaysia
https://www.thestar.com.my/business/business-news/2018/11/15/oil-price-dampener/
Faster Malaysian growth seen in Q3
https://www.thestar.com.my/business/business-news/2018/11/15/faster-growth-seen-in-q3/
India's Fortis to buy leased assets with Malaysia's IHH funds
Scientex to make MGO for packaging firm Daibochi
Sarawak plans to build 600 more telecom towers by 2020
SP Setia confident of achieving RM5bil sales target
Columbia Pacific weighs RM8.4bil Asia hospital operator sale
FGV in tie-up with Dalian Commodity Exchange
Bad press on CPO as EU wants to protect own seed oil market
Steady growth anticipated for the glass industry
Industry 4.0 Blueprint on readiness assessment finalised, says Miti
Dialog Group may invest in petrochemical plants
Matrix chalks up RM898mil property sales in the first half
SP Setia achieves sales of RM3.21bil in January to September
GLOBAL NEWS AND DEVELOPMENTS
India's palm oil imports from Malaysia, Indonesia drop on weak rupee
World stocks rebound, Brexit blow-up levels sterling
Oil rebounds on lower US stockpiles, possible drop in OPEC supply
Singapore Oct exports up 8.3% year-on-year, exceeds expectations
Singapore's Wilmar may invest in soybean production in Russia
Morgan Stanley says dollar bull run has ended, time to sell
Thailand dips into cash cows to support economy
Indonesia tightens rules on repatriating revenue from resource exports
Nvidia, Applied Forecasts add to evidence chip bull run ending
Asia crypto-linked stocks fall as bitcoin sinks to one-year low
Billionaire Buffett's Berkshire invests in JPMorgan, Oracle
Singapore Airlines finds premium economy a tougher sell on new non-stop US flights
Goldman Sachs investing in startup that makes paper from stones
Three S. Korean firms to plead guilty to rigging price of US military base fuel
Billionaire Cohen says bear market coming within two years
Rising economic growth seen in Gulf on high oil prices
China can handle trade war just fine, says copper giant
German economy shrinks as auto sector takes a hit
Global oil market faces surplus throughout 2019 as demand slows
China industrial output, investment beat forecasts; retail sales miss
Japan's economy contracts as natural disasters, trade frictions hit hard
MSWG TEAM
Devanesan Evanson, Chief Executive Officer, [email protected]
Lya Rahman, General Manager, [email protected]
Rebecca Yap, Head, Corporate Monitoring, [email protected]
Quah Ban Aik, Head, Corporate Monitoring, [email protected]
Norhisam Sidek, Manager, Corporate Monitoring, [email protected]
Hoo Ley Beng, Manager, Corporate Monitoring, [email protected]
Lee Chee Meng, Manager, Corporate Monitoring, [email protected]
Abdul Halim Alias, Manager, Corporate Monitoring, [email protected]
DISCLOSURE OF INTERESTS
• With regard to the companies mentioned, MSWG holds a minimum number of shares in all these companies covered in this newsletter, except for Muar Ban Lee Group Berhad, Advance Synergy Berhad, and FSBM Holdings Berhad
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