IJM Prop eyes 50pc of Larut Leisure
By BUSINESS TIMES
IJM Corp Bhd's subsidiary, IJM Properties Sdn Bhd (IJMP), plans to buy a 50 per cent stake in Larut Leisure Enterprise (Hong Kong) Ltd (LLE) from Talam Group for HK$1 (HK$100 = RM44.40). The deal will also see IJMP assuming a loan of RM25.63 million from the Talam group to LLE. LLE owns a 60 per cent interest in Jilin Dingtai Enterprise Development Co Ltd, which owns a partially completed "Yin Hai Complex" in Jilin Province, China. The gross sales value of the proposed 35-storey commercial cum residential complex is estimated at RM340 million. LLE is a wholly-owned subsidiary of Larut Overseas Ventures Sdn Bhd, which is a wholly-owned subsidiary of Talam.
Showing posts with label IJM. Show all posts
Showing posts with label IJM. Show all posts
Saturday, June 30, 2007
Friday, June 29, 2007
IJM agress to buy 50% of Leisure
IJM agress to buy 50% of Leisure
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PETALING JAYA: IJM Corp Bhd unit IJM Properties Sdn Bhd has agreed to buy a 50% stake in Larut Leisure Enterprise (HK) Ltd, which owns a partially completed commercial and residential complex in Changchun, north-east China.
IJM told Bursa Malaysia that IJM Properties would buy 1.52 million shares in Larut Leisure from Larut Overseas Ventures Sdn Bhd. Larut Overseas is a subsidiary of Talam Corp Bhd.
For the deal, IJM Properties will pay HK$1 and assume RM25.63mil of loans from the Talam group to Larut Leisure.
Larut Leisure has a 60% stake in Jilin Dingtai Enterprise Development Co Ltd, which owns the Yin Hai Complex.
IJM said the gross sales value of the 35-storey complex was estimated at 745 million yuan (RM340mil).
Digg this story Add to your del.icio.us account
PETALING JAYA: IJM Corp Bhd unit IJM Properties Sdn Bhd has agreed to buy a 50% stake in Larut Leisure Enterprise (HK) Ltd, which owns a partially completed commercial and residential complex in Changchun, north-east China.
IJM told Bursa Malaysia that IJM Properties would buy 1.52 million shares in Larut Leisure from Larut Overseas Ventures Sdn Bhd. Larut Overseas is a subsidiary of Talam Corp Bhd.
For the deal, IJM Properties will pay HK$1 and assume RM25.63mil of loans from the Talam group to Larut Leisure.
Larut Leisure has a 60% stake in Jilin Dingtai Enterprise Development Co Ltd, which owns the Yin Hai Complex.
IJM said the gross sales value of the 35-storey complex was estimated at 745 million yuan (RM340mil).
Monday, March 26, 2007
Stockwatch
Stockwatch
IJM:Analysts are upbeat on IJM's prospects seeing that its unit IJM (India) Infrastructure Ltd is likely to contribute RM800mil to RM1bil revenue in its current financial year (FY) ending March 31, 2007, representing a 30% increase to 2006. The management plans to list its Indian unit next year and expand operations to Pakistan. IJM is currently doing a feasibility study on a RM830mil toll road project in Karachi. It also has 230 acres for residential and commercial development in Hyderabad and plans to have more joint ventures with landowners.
Tebrau Teguh:The Johor property developer is eyeing major construction works in anticipation of the Ninth Malaysia Plan for projects in the South Johor Economic Region. An analyst said it could also benefit from higher land prices since Tebrau had vast land assets in South Johor, which was expected to undergo rapid infrastructure development due to private initiatives and government spending worth over RM10.2bil. He said Tebrau had been actively traded the last three months hitting a 12-month high of 72.5 sen per share (July 10) before settling at 53 sen last Friday.
Hock Seng Lee:HSL has indicated that it is close to securing a RM120mil building job in Sarawak, and also eyeing a portion of the RM1bil flood mitigation project in Kuching and Sibu worth RM1.1bil. Dealers said the company, involved in marine engineering and infrastructure projects, was trying to make inroads into Sabah, while bidding for the RM300mil Sepangar Bay project in Kota Kinabalu and other projects on a direct negotiation basis. A broker said pending an update with the management, he maintains FY Dec 31, 2007 and 2008 net profit forecast of RM39mil and RM44.7mil respectively.
AirAsia: THE budget airline recently secured a RM846mil Islamic financing from Kuwait Finance House (M) Bhd for the purchase of six A320-200 aircraft. An analyst said the Islamic facility would help AirAsia cushion the impact of volatility in foreign exchange rate and risk exposure (over a 12-year period) since the loan was fixed at a premium. He said the financing solution augured well for AirAsia's growth plan and expansion after seeing that the airline aimed at buying 100 aircraft over a few years to service the region.
UMW: WHILE the company's automotive division has performed below expectations in the first half (H1) of its current financial year ending Dec 31, 2006, UMW's overall performance has been offset by its oil and gas sector division, which had done well posting RM106mil, accounting for about a third of operating profits for H1. The analyst said the division's profit margin continued to impress with 14% versus 10% in H1of 2005. The significant increase in oil and gas profit margin helped to more than offset a reduction in contribution from the equipment and manufacturing divisions.
IJM:Analysts are upbeat on IJM's prospects seeing that its unit IJM (India) Infrastructure Ltd is likely to contribute RM800mil to RM1bil revenue in its current financial year (FY) ending March 31, 2007, representing a 30% increase to 2006. The management plans to list its Indian unit next year and expand operations to Pakistan. IJM is currently doing a feasibility study on a RM830mil toll road project in Karachi. It also has 230 acres for residential and commercial development in Hyderabad and plans to have more joint ventures with landowners.
Tebrau Teguh:The Johor property developer is eyeing major construction works in anticipation of the Ninth Malaysia Plan for projects in the South Johor Economic Region. An analyst said it could also benefit from higher land prices since Tebrau had vast land assets in South Johor, which was expected to undergo rapid infrastructure development due to private initiatives and government spending worth over RM10.2bil. He said Tebrau had been actively traded the last three months hitting a 12-month high of 72.5 sen per share (July 10) before settling at 53 sen last Friday.
Hock Seng Lee:HSL has indicated that it is close to securing a RM120mil building job in Sarawak, and also eyeing a portion of the RM1bil flood mitigation project in Kuching and Sibu worth RM1.1bil. Dealers said the company, involved in marine engineering and infrastructure projects, was trying to make inroads into Sabah, while bidding for the RM300mil Sepangar Bay project in Kota Kinabalu and other projects on a direct negotiation basis. A broker said pending an update with the management, he maintains FY Dec 31, 2007 and 2008 net profit forecast of RM39mil and RM44.7mil respectively.
AirAsia: THE budget airline recently secured a RM846mil Islamic financing from Kuwait Finance House (M) Bhd for the purchase of six A320-200 aircraft. An analyst said the Islamic facility would help AirAsia cushion the impact of volatility in foreign exchange rate and risk exposure (over a 12-year period) since the loan was fixed at a premium. He said the financing solution augured well for AirAsia's growth plan and expansion after seeing that the airline aimed at buying 100 aircraft over a few years to service the region.
UMW: WHILE the company's automotive division has performed below expectations in the first half (H1) of its current financial year ending Dec 31, 2006, UMW's overall performance has been offset by its oil and gas sector division, which had done well posting RM106mil, accounting for about a third of operating profits for H1. The analyst said the division's profit margin continued to impress with 14% versus 10% in H1of 2005. The significant increase in oil and gas profit margin helped to more than offset a reduction in contribution from the equipment and manufacturing divisions.
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