Significance: The government has been selling some of its prized land bank around Kuala Lumpur and the Klang Valley for redevelopment. Should the deal go through, Boustead will benefit from the development opportunities on the strategically located prime area, which is also likely to attract foreign investments.
Sino Hua-An Unlikely To Be Hit By Costlier Coal
Sino Hua-An International, a metallurgical coke manufacturer, is not likely to be significantly affected by the rising international coal prices caused by the floods in Australia’s coal-rich state of Queensland. The company’s metallurgical coke plant in Shandong province purchases and uses most of its coking coal from mines in Shandong, Henan and Shanxi provinces. Sino Hua-An also buys cheaper coking coal in bulk for the winter season. The company’s current coking coal inventory is at 170,000 tonnes, more than triple its usual level at 50,000 tonnes. This inventory level is enough for over a month’s use. Coal prices for delivery in Mar-11 have risen to some US$130 a tonne from around US$100 a tonne at the beginning of Dec-10.
Significance: Coking coal supplies from overseas are likely to be severely restricted, which will in turn push up the selling prices of Sino Hua-An’s by-products further in the near term. The domestic coal price will be pressured to increase as local coal producers are unwilling to sign new coal contracts despite China government’s effort aimed at stabilising coal prices.
Ramunia Eyes Borcos Shipping
Ramunia Holdings, which is without a core business, is in talks to acquire Syarikat Borcos Shipping, according to sources familiar with the matter. Meanwhile, Ramunia has two months to come up with a regularisation plan, and submit it to the authorities. In Apr-10, the company sold its main assets, its fabrication yard and machinery located in Teluk Ramunia, Johor to Sime Darby for RM515m, which left it without a core business, but with sufficient funds to settle its debts and acquire a new core business.
Significance: Ramunia has recently seen its bottom line returning to the black and will be able to attain a core business through the acquisition of Borcos Shipping. The latter has its mainstay in the provision of offshore supply services for the oil and gas sector and barges. For the latest updates PRESS CTR + D or visit Stock Market news Today
Related Post:
Malaysia stock market
- FTSE Bursa Malaysia KLCI outlook week april 2-6 2012
- FTSE Bursa Malaysia KLCI outlook next week march 19-23 2012
- FTSE Bursa Malaysia KLCI trend outlook march 12-16 2012
- Bursa Malaysia KLCI forecast weekly feb 27 - march 2 2012
- ASB Dividend per share december 31 2011
- Malaysia Market factors to watch June 20 june 2011
- Market overview, Crude-oil prices, CPO futures, US soybean may 15 2011
- Malaysia Futures Trading Chart Today
- Ringgit Opens market may 9 2011 Higher In Tandem With Local Bourse
- Malaysia stock market and companies daily report for April 04, 2011
- crude palm oil prices in malaysia 2011
- Malaysia stock market and companies report February 24, 2011
- top picks malaysian stocks markets in february 2011
- Malaysia stock market and companies daily report (January 21, 2011)
- Malaysia stock market is predicted to be bullish for the first half of 2011
- Restructuring the real estate and securities market
- Malaysia stock market and companies daily report January 04, 2011
- Malaysian stocks on bullish sentiment boosted by US data
No comments:
Post a Comment