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Stocks In Focus MY (Cahya Mata, Halex Hldgs, JCorp) – 05/05/15
Cahya Mata Expands Cement Production Capacity By 60 Percent
Cahya Mata Sarawak (CMS) will raise cement production capacity by almost 60 percent to 2.75 million tonnes per annum when its third grinding plant, currently being built, is commissioned in 1Q16.
The proposed RM190 million plant project located adjacent to the group’s clinker plant in Mambong, Penriseen Road is progressing well, with trial production scheduled by end-2015. CMS had invested RM78 million in the clinker plant to raise its production capacity by 10 percent to 900,000 tonnes per annum, meeting up to 85 percent of the clinker demand.
CMS is Sarawak’s sole cement manufacturer, owning and operating two cement plants with annual combined rated production capacity of 1.8 million tonnes.
Significance : The company will invest another RM17 million this year to enhance its cement distribution capabilities. With a cash pile of some RM800 million, CMS will continue to focus its investment in energy-intensive industries and infrastructure-related projects.
Halex Plans To Sell 120,000 Tonnes Of Fertilisers
Halex Holdings is looking to supply straight fertilisers to a big planter. If the deal succeeds, Halex will be selling 120,000 tonnes of fertilisers compared with the 1,000 tonnes it sells per year.
Halex is in advanced talks with an Asian multinational corporation to get the supply for the straight fertilisers and the discussions are expected to have a conclusion by September 2015.
Acquiring a further 75 percent in developer Kensington Development, Halex will wholly-own Kensington. The company also posted a revenue of RM94.5 million and net profit of RM2.2 million for financial year 2014.
Significance : Halex’s profits have been falling because of higher costs for the past few years and has sought to diversify into property development on top of looking into selling agro-chemical products with higher margins.
JCorp To Boost Presence In O&G Sector
Johor Corp (JCorp) is looking to expand its participation in the oil and gas (O&G) sector through its subsidiary companies.
E.A. Technique is one of the subsidiaries, currently possessing 33 marine vessels including its latest offshore storage vessel namely the FOIS Nautica Tembikai. With the new vessel set to sail along with its six-year contract valued at US$63 million, the company is expanding well.
The US$40 million vessel was formerly an international trading tanker and was acquired on 11 August 2014 after it was converted into a floating storage-offloading unit on 23 July 2014.
Significance : JCorp hopes to meet the demands for infrastructure around the economic corridor, which include proper roads and sufficient water and power supplies. JCorp states its involvement in a wide scope of fields and mentions that E.A. Technique is merely a mid-size investment.
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