NST Online Business Times : latest
NST Online Business Times : latest |
| RHB cuts APM Automotive fair value Posted: 17 Feb 2013 06:45 PM PST RHB Research lowered its fair value on APM Automotive Holdings Bhd citing an "unspectacular" earnings forecast and a challenging short-term operational outlook. The automotive component maker remains reliant on sales to domestic original equipment manufacturers (OEMs) and has been struggling to break into regional automotive markets, RHB said in a note on Monday. The research house said it expected APM to report steady but unexciting results in the fourth quarter of its financial year ending December 2012, forecasting net profit to rise 10.5 per cent on quarter but dipping 11.9 per cent year-on-year. RHB lowered its earnings estimates for APM by 18.3 per cent to RM123.8 million for 2013, and by 20.2 per cent to RM132.8 million for 2014, after cutting out the wider margins from the weaker Japanese yen and on assumption that APM's customers will claw back gains going forward.
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| Cahya Mata plans plant expansion Posted: 17 Feb 2013 06:48 PM PST Cahya Mata Sarawak Bhd (CMS) is considering a "significant" expansion of its cement grinding capacity after deciding to proceed with a joint-venture development of the billion ringgit ferro silicon smelting plant project at the Samalaju Industrial Park in Sarawak. The company did not state how much additional grinding capacity will be built but it is expected to involve a capital expenditure of up to RM150 million (US$48.48 million). The expansion will be located at its plant adjoining its clinker plant on the outskirts of Kuching. The company's cement production capacity now stands at 1.75 million tonnes per year from plants in Kuching and Bintulu, and in excess of local demand. The expansion signals a fundamental change in the cement market in the state and CMS believes the urbanisation and industrial development in the state will drive up demand-Malaysian Reserve. -- Reuters
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