February 19, 2014

Company announcements: GDEX, MYETFDJ, CIMBA40, CIMBC25, TEBRAU, BJASSET, KIANJOO

GDEX - Change in Principal Officer

Announcement Type: Change in Principal Officer
Company NameGD EXPRESS CARRIER BERHAD  
Stock Name GDEX  
Date Announced19 Feb 2014  
CategoryChange in Principal Officer
Reference NoCC-140219-55190

Date of change19/02/2014
NameLim Chee Seong
Age47
NationalityMalaysian
Type of changeAppointment
DesignationChief Financial Officer
QualificationsFellow Member (FCCA) of The Association of Chartered Certified Accountants
Chartered Accountant (CA) of Malaysian Institute of Accountants
Certified Accounting Technician (CAT) of The Association of Chartered Certified Accountants
Diploma in Taxation from HELP Institute
Working experience and occupation Accumulated > 25 years working experiences, in auditing, taxation, financial and management reporting, treasury and cash management, human resource and general management as well as corporate exercise.

Joined GDEX in May 2011 as General Manager, Finance.
Family relationship with any director and/or major shareholder of the listed issuerNil
Any conflict of interests that he/she has with the listed issuer or its subsidiariesNil
Details of any interest in the securities of the listed issuer or its subsidiariesDirect shareholding of 60,000 Ordinary Shares of RM0.05 each in the Company.

Remarks :
Mr Lim Chee Seong is appointed as Acting Chief Financial Officer of the Company.


GDEX - Quarterly rpt on consolidated results for the financial period ended 31/12/2013

Announcement Type: Financial Results
Company NameGD EXPRESS CARRIER BERHAD  
Stock Name GDEX  
Date Announced19 Feb 2014  
CategoryFinancial Results
Reference NoCC-140219-54177

Financial Year End30/06/2014
Quarter2
Quarterly report for the financial period ended31/12/2013
The figureshave not been audited
  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/12/2013
31/12/2012
31/12/2013
24/12/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
40,304
34,244
77,408
66,250
2Profit/(loss) before tax
6,563
4,890
11,678
9,771
3Profit/(loss) for the period
8,722
3,463
12,405
6,961
4Profit/(loss) attributable to ordinary equity holders of the parent
8,722
3,463
12,405
6,961
5Basic earnings/(loss) per share (Subunit)
1.08
0.44
1.55
0.89
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
0.1000
0.2500
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


GDEX - Change in Principal Officer

Announcement Type: Change in Principal Officer
Company NameGD EXPRESS CARRIER BERHAD  
Stock Name GDEX  
Date Announced19 Feb 2014  
CategoryChange in Principal Officer
Reference NoCC-140219-54985

Date of change19/02/2014
NameTung Sook Wah
Age47
NationalityMalaysian
Type of changeOthers
DesignationChief Financial Officer
QualificationsFellow Member of Association of Chartered Certified Accountants
Member of Malaysia Institute of Accountants
Diploma of Accountancy from London Chamber of Commerce and Industry
Working experience and occupation Ms Tung Sook Wah has a total of 18 years of working experience in accounting, auditing, taxation and management consultancy. She started her career as External Auditor with Messrs KPMG Peat Marwick in 1992 and joined the commercial sector two years later. Prior to joining GDEX, she was a director in JPK Holdings till November 2008.

She joined the Company as Head of Finance in May 2006, taking charge of the overall accounting and financial management of the Group. In 2008, she assumed the position of Chief Financial Officer, overseeing the Biiling Department and has been involved in the strategic planning of the Group.
Family relationship with any director and/or major shareholder of the listed issuerNil
Any conflict of interests that he/she has with the listed issuer or its subsidiariesNil
Details of any interest in the securities of the listed issuer or its subsidiariesDirect shareholding of 75,900 Ordinary Shares of RM0.05 each in the Company.

Remarks :
Ms Tung Sook Wah was redesignated as Advisory Division and hence relinquish her position as Chief Financial Officer.


MYETFDJ - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE

Announcement Type: General Announcement
Company NameMYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25  
Stock Name MYETFDJ  
Date Announced19 Feb 2014  
CategoryGeneral Announcement
Reference NoMD-140219-66745

TypeAnnouncement
SubjectNET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
DescriptionMYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25 - Valuation Point as at 19-02-2014
Fund: MYETFDJ
NAV per unit (RM): 1.1410
Units in Circulation (units): 255,100,000
Manager's Fee (%p.a): 0.40
Trustee's Fee (%p.a): 0.05
License Fee (%p.a): 0.04
DJIM25 Index: 1,025.71

 

Attachments

Daily Fund Values190214.pdf
55 KB



CIMBA40 - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE

Announcement Type: General Announcement
Company NameCIMB FTSE ASEAN 40 MALAYSIA  
Stock Name CIMBA40  
Date Announced19 Feb 2014  
CategoryGeneral Announcement
Reference NoOB-140219-67274

TypeAnnouncement
SubjectNET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
DescriptionFund: CIMB FTSE ASEAN 40 Malaysia
Date: 19-Feb-2014
NAV per unit (RM): 1.6749
Units in circulation (units): 1,350,000.00
Management Fee (% p.a.): 0.00
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.00
FTSE/ASEAN 40 Index: 10,483.28

Attachments

A40.pdf
10 KB



CIMBC25 - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE

Announcement Type: General Announcement
Company NameCIMB FTSE CHINA 25  
Stock Name CIMBC25  
Date Announced19 Feb 2014  
CategoryGeneral Announcement
Reference NoOB-140219-67217

TypeAnnouncement
SubjectNET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
DescriptionFund: CIMB FTSE China 25
Date: 19-Feb-2014
NAV per unit (RM): 0.9666
Units in circulation (units): 9,750,000.00
Management Fee (% p.a.): 0.60
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.04
FTSE/Xinhua China 25 Index: 15,955.91

Attachments

C25.pdf
25 KB



TEBRAU - Quarterly rpt on consolidated results for the financial period ended 31/12/2013

Announcement Type: Financial Results
Company NameTEBRAU TEGUH BERHAD  
Stock Name TEBRAU  
Date Announced19 Feb 2014  
CategoryFinancial Results
Reference NoCJ-140219-64427

Financial Year End31/12/2013
Quarter4
Quarterly report for the financial period ended31/12/2013
The figureshave not been audited
  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/12/2013
31/12/2012
31/12/2013
31/12/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
82,358
30,857
253,058
180,711
2Profit/(loss) before tax
22,084
-4,850
34,614
16,145
3Profit/(loss) for the period
17,201
-4,786
26,661
13,026
4Profit/(loss) attributable to ordinary equity holders of the parent
17,201
-4,786
26,661
13,026
5Basic earnings/(loss) per share (Subunit)
2.57
-0.71
3.98
1.94
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
0.8100
0.7800
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


BJASSET - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS

Announcement Type: General Announcement
Company NameBERJAYA ASSETS BERHAD  
Stock Name BJASSET  
Date Announced19 Feb 2014  
CategoryGeneral Announcement
Reference NoBA-140218-34960

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionPROPOSED ACQUISITION OF PROPERTY IN ISLINGTON, LONDON FOR A TOTAL CASH CONSIDERATION OF 39.00 MILLION
1. INTRODUCTION
      The Board of Directors of Berjaya Assets Berhad (“BAssets” or the “Company”) wishes to announce that its 70% owned subsidiary, Cardiff Asset Limited (“CAL”), has on 18 February 2014 entered into an agreement for sale (“Agreement”) with Frasers Islington Limited (“FIL”) and Frasers Islington Properties Limited (“FIPL”) (collectively referred to as the “Sellers”) for the proposed acquisition of freehold land with leasehold building erected thereon known as “Islington On The Green” (“Property”) in Islington, London, United Kingdom (“UK”) for a total cash consideration of 39.00 million (about RM213.25 million*) (“Proposed Acquisition”).

    * Assume exchange rate of 1.00 = RM5.468

2. THE PROPOSED ACQUISITION

2.1 Details of the Proposed Acquisition

2.1.1 Details of the Property are as follows:
Seller
Type of Property/
(Tenure)
Property Details
Title Nos.
Consideration
’million
FIL
Freehold land (perpetuity)
The parcel of land on which the Leasehold Property (as defined herein) is erected thereon
NGL766338, NGL764180, NGL642953 and AGL222447 (“Freehold Land”)
0.68
FIPL
Leasehold building erected on Freehold Land (150 years from 1 January 2009)
5-storey (1 to 3 rooms) residential lots totaling 70 units with a total net lettable area of about 46,000 sq ft
AGL263792 and AGL262049 (“Leasehold Property”)
38.32
Total
39.00

2.1.2 The salient terms of the Agreement include, amongst others, the following:-
      (i) The total cash consideration of 39.00 million (“Consideration”) for the Proposed Acquisition is paid/ payable as follows:

          (a) 3.90 million (about RM21.32 million) representing 10% of the Consideration was paid on the Agreement date;
          (b) 35.10 million (about RM191.93 million) representing the balance 90% of the Consideration (“Balance Sum”) shall be payable on 19 May 2014 (“Completion Date”). CAL may elect to defer the completion to 18 August 2014 (“Deferred Completion Date”) subject to interest charges.

      (ii) the Property will be acquired free from any financial encumbrances with all rights and benefits attaching thereto save for those matters affecting the Property such as right of free passages of services through conduits and right of access at reasonable times to carry out maintenance etc.
2.2 Information on the Property, FIL, FIPL and CAL

2.2.1 The Property
      The Property which comprises the Freehold Land and the Leasehold Property erected thereon is situated on the freehold land at and known as 1-5 (odd) and 11-17 (odd) Essex Road, 13 to 17 (inclusive) Islington On The Green, northwest side of Essex Road, London N1 2XH. The Leasehold Property is the leasehold building with 5 levels above ground and 3 basement levels. On the ground floor is a retail space with A3 class license (for restaurants and cafes), above which reside 70 units of luxury residential apartments. The total gross lettable area of the leasehold building is about 46,000 square feet comprising 1-bedroom to 3-bedroom apartments with floor sizes ranging from 452 square feet to 1,521 square feet.

      At basement level, there is a 600-seat capacity theatre with commercial units and 10 car park bays (“Commercial Property”) acquired by CAL in 2012. The theatre was modeled on the original Rose Theatre. Both the retail space and theatre are in shell condition. FIL is the registered proprietor of the Freehold Land and had leased the entire Leasehold Property i.e. the building to FIPL.
2.2.2 FIL
      FIL was incorporated on 21 March 2005 in England and has an issued share capital of 3 divided into 6 ordinary shares of 0.50 each. The principal activity of FIL is trading of real estate. The shareholders of FIL are Frasers Property (UK) Ltd (holding 83.33% equity interest) and Frasers (UK) Pte Ltd (holding 16.67% equity interest). The current Directors of FIL are Dr Stanley Quek Swee Han, Mr Chia Khong Shoong and Mr Simon John Patrick Lear.

2.2.3 FIPL
      FIPL was incorporated on 19 November 2008 in England and has an issued share capital of 1 divided into 1 ordinary share of 1.00 each and is a wholly-owned subsidiary of FIL. The principal activity of FIPL is letting and operating of real estate. The current Directors of FIPL are Dr Stanley Quek Swee Han, Mr Chia Khong Shoong and Mr Simon John Patrick Lear.

2.2.4 CAL
      CAL was incorporated on 5 April 2012 in England and has an issued share capital of 8.00 million divided into 8.00 million ordinary shares of 1.00 each. The principal activity of CAL is investment holding. The current Directors of CAL are Mr Chan Chiek Min, Mr Lim Meng Kwong, Ms Koh Huey Min, Ms Chryseis Tan Sheik Ling, Mr Li Kai Sing and Broad Ample Resources Limited.
      CAL is a 70% owned subsidiary of BTS (Cayman) Limited, which in turn is a wholly owned subsidiary of BAssets.

2.3 Basis of arriving at the Consideration for the Proposed Acquisition

The cash consideration was arrived at on a willing-buyer willing-seller basis after taking into consideration inter-alia, the conditions of the Property, the surrounding developments, potential capital appreciation and the valuation carried out by Messrs Aitchison Raffety (“Surveyor”) on 11 February 2014 of 39.00 million.

2.4 Source of funding and expected completion date for the Proposed Acquisition

      The consideration will be funded by internally generated funds and borrowings, the actual composition of which will be determined later.

      The Proposed Acquisition is expected to be completed by the 1st quarter of the financial year ending 30 June 2015.

2.5 Prospects
      According to a recent analysis report by Savills, a real estate firm in UK, 2013 saw a revival in the housing market in UK due to low lending rates. Property prices are expected to grow largely driven by strong buyer sentiment underpinned by an overall improved economic outlook. However, beyond price growth, prospects for property markets will be dependent on earnings growth given an erosion of mortgage affordability due to rate rises. The demand for rental accommodation is likely to continue to be underpinned by a lack of accessibility to home ownership. Households in the private rented sector are expected to grow by one million in the UK over the next five years presenting a significant opportunity for institutional investment. Prime Central London has been the best performing residential market since 2005, fuelled by wealth from the financial services sector and strong overseas demand. The recovery will be driven by improving business confidence on the back of better domestic and global economic outlook.
      The positive outlook of the property market sector in London augurs well for the Proposed Acquisition, which involves the acquisition of residential property in a prime location in London.

2.6 Risk factors
      As in any property acquisition, the Proposed Acquisition is exposed to normal inherent risks in the property market sector due to the overall macroeconomic environment cyclical or otherwise. The property market is exposed to factors such as liquidity and credit risks as well as inflationary pressures such as increase in lending rates. The Board is aware of such inherent risks and will take appropriate measure to mitigate them as and when necessary.

3. RATIONALE
      The Proposed Acquisition represents an opportunity for the BAssets Group to acquire the remaining property blocks (i.e. the freehold land and residential blocks) in Islington On The Green not already owned by the Group, which are located in a prime and strategic location in UK. The Property is expected to have good capital appreciation.
      The purchase consideration of 39.00 million for the entire Property is equivalent to an average of about 848 per sq ft based on the net lettable area of about 46,000 sq ft. The average price of 848 per sq ft is deemed attractive as individual apartment units for sale are expected to be priced much higher.
4. EFFECTS OF THE PROPOSED ACQUISITION

4.1 Share Capital and Substantial Shareholdings
      The Proposed Acquisition will not have any effect on the issued and paid-up share capital and substantial shareholders' shareholdings in BAssets.

4.2 Consolidated Net Earnings, Net Assets and Gearing
      For the purpose of determining the financial effects of the Proposed Acquisition, it is assumed that the entire consideration is funded through bank borrowings.

      The Proposed Acquisition is not expected to have any material impact on the consolidated net earnings and consolidated net assets of BAssets for the current financial year ending 30 June 2014. The Proposed Acquisition is expected to contribute positively to the future earnings of the BAssets Group from the lease rentals and/or sale of the Leasehold Property.

      The Proposed Acquisition will increase the gearing from 0.24 times to 0.33 times based on the last audited accounts of the BAssets Group as at 30 June 2013.
4.3 Liability To Be Assumed

      There are no liability to be assumed by the BAssets Group arising from the Proposed Acquisition.
5. CONDITIONS OF THE PROPOSED ACQUISITION
        Save for the approval from Bank Negara Malaysia for the remittance of funds, the Proposed Acquisition is not subject to approval of the shareholders of BAssets or any other relevant authorities in Malaysia.
    6. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
        None of the Directors and major shareholders of BAssets and/or persons connected to them has any interest, direct or indirect, in the Proposed Acquisition.
    7. DIRECTORS’ RECOMMANDATION
        The Board of Directors of BAssets is of the opinion that the Proposed Acquisition is in the best interest of the BAssets Group.
    8. HIGHEST PERCENTAGE RATIO

        Pursuant to Chapter 10, Paragraph 10.2(g) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the highest percentage ratio that is applicable to the Proposed Acquisition is approximately 9.65%.

    9. DOCUMENTS AVAILABLE FOR INSPECTION
        The Agreement and the Surveyor’s letter are available for inspection during the normal business hours at the Registered Office of the Company at Lot 13-01A, Level 13 (East Wing), Berjaya Times Square, No.1, Jalan Imbi, 55100 Kuala Lumpur, during normal office hours from Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this Announcement.

    This Announcement is dated 19 February 2014.


    KIANJOO - Quarterly rpt on consolidated results for the financial period ended 31/12/2013

    Announcement Type: Financial Results
    Company NameKIAN JOO CAN FACTORY BERHAD  
    Stock Name KIANJOO  
    Date Announced19 Feb 2014  
    CategoryFinancial Results
    Reference NoKJ-140213-69707

    Financial Year End31/12/2013
    Quarter4
    Quarterly report for the financial period ended31/12/2013
    The figureshave not been audited

    Attachments

    KJCF 4Q2013 Announcement.pdf
    221 KB

    • Default Currency
    • Other Currency

    Currency: Malaysian Ringgit (MYR)

    SUMMARY OF KEY FINANCIAL INFORMATION
    31/12/2013

     
    INDIVIDUAL PERIOD
    CUMULATIVE PERIOD
    CURRENT YEAR QUARTER
    PRECEDING YEAR
    CORRESPONDING
    QUARTER
    CURRENT YEAR TO DATE
    PRECEDING YEAR
    CORRESPONDING
    PERIOD
    31/12/2013
    31/12/2012
    31/12/2013
    31/12/2012
    $$'000
    $$'000
    $$'000
    $$'000
    1Revenue
    334,853
    311,313
    1,284,863
    1,162,845
    2Profit/(loss) before tax
    22,720
    45,577
    147,392
    143,959
    3Profit/(loss) for the period
    24,419
    48,935
    123,739
    128,410
    4Profit/(loss) attributable to ordinary equity holders of the parent
    23,753
    47,032
    118,288
    120,901
    5Basic earnings/(loss) per share (Subunit)
    5.35
    10.59
    26.63
    27.22
    6Proposed/Declared dividend per share (Subunit)
    6.25
    6.25
    12.50
    12.50


    AS AT END OF CURRENT QUARTER
    AS AT PRECEDING FINANCIAL YEAR END
    7
    Net assets per share attributable to ordinary equity holders of the parent ($$)
    2.3300
    2.1900

    Remarks :
    The Board of Directors of Kian Joo Can Factory Berhad (“the Company”) is pleased to recommend a final tax exempt (single-tier) dividend of 10% (2.50 sen per ordinary share) amounting to RM11.1 million and a special tax exempt (single-tier) dividend of 15% (3.75 sen per ordinary share) amounting to RM16.7 million in respect of the financial year ended 31 December 2013, subject to shareholders' approval at the forthcoming Annual General Meeting of the Company.
    Definition of Subunit:

    In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
    Example for the subunit as follows:

    CountryBase UnitSubunit
    MalaysiaRinggitSen
    United StatesDollarCent
    United KingdomPoundPence


    KIANJOO - OTHERS KIAN JOO CAN FACTORY BERHAD ("KIAN JOO" OR "THE COMPANY") Proposed final tax exempt (single-tier) dividend of 10% (2.50 sen per ordinary share) and a special tax exempt (single-tier) dividend of 15% (3.75 sen per ordinary share) in respect of the financial year ended 31 December 2013

    Announcement Type: General Announcement
    Company NameKIAN JOO CAN FACTORY BERHAD  
    Stock Name KIANJOO  
    Date Announced19 Feb 2014  
    CategoryGeneral Announcement
    Reference NoKJ-140213-70637

    TypeAnnouncement
    SubjectOTHERS
    DescriptionKIAN JOO CAN FACTORY BERHAD ("KIAN JOO" OR "THE COMPANY")
    Proposed final tax exempt (single-tier) dividend of 10% (2.50 sen per ordinary share) and a special tax exempt (single-tier) dividend of 15% (3.75 sen per ordinary share) in respect of the financial year ended 31 December 2013

    The Board of Directors of Kian Joo ("Board") is pleased to recommend a final tax exempt (single-tier) dividend of 10% (2.50 sen per ordinary share) amounting to RM11.1 million and a special tax exempt (single-tier) dividend of 15% (3.75 sen per ordinary share) amounting to RM16.7 million in respect of the financial year ended 31 December 2013 ("Proposed Dividends"), subject to shareholders' approval at the forthcoming Annual General Meeting of the Company.

    The Board has on 19 February 2014 written to Aspire Insight Sdn Bhd (“Aspire”) to request for a waiver of paragraph 2.2 of the Letter of Offer dated 26 November 2013 (“Letter”) from Aspire in respect of the Proposed Dividends.

    Pursuant to paragraph 2.2 of the Letter, payment of any dividend or distribution by the Company after the date of the offer shall be deducted from the purchase consideration for the proposed acquisition by Aspire of the entire business and undertaking including all of the assets and liabilities of the Company.

     

    This announcement is dated 19 February 2014.

     

     

     

     

     



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