MPHB Shares Rise At Midday Prior To MPHBC Listing

 

 

MPHB Shares Rise At Midday Prior To MPHBC Listing

KUALA LUMPUR, May 15 (Bernama) -- Multi-Purpose Holdings Bhd's (MPHB) shares advanced to RM4.06 at mid-day break after the company announced the listing of its non-gaming asset, MPHB Capital Bhd (MPHBC).

At 12.30 pm, it was up 10 sen or 2.52 per cent to RM4.06, with 3.03 million shares changing hands.

"With the clearer timeline for listing, we believe demand for MPHB's stock will remain strong and its share price may even surpass our target price of RM4.31 per revalued net asset value share," said Kenanga Research in a note today.

The research house advised investors to hold the stock at least until the entitlement date on May 29.

MPHBC is to be listed on Bursa Malaysia on June 25.

Kenanga Research said strong demand for MPHB stock was likely on the fact that both MPHB and MPHBC would be potentially worth as high as RM6.47.

"The demerger is expected to unlock the group's value while its dividend are set to rise higher on the back of its higher 80 per cent dividend payout policy from 50 per cent currently," it added.

-- BERNAMA

Kenanga Research Kekalkan Saranan 'Neutral' Terhadap Sektor Teknologi

KUALA LUMPUR, 7 Mei (Bernama) -- Kenanga Research mengekalkan saranan 'neutral' terhadap sektor teknologi meskipun jualan separa konduktor dunia dan nisbah pesanan berbanding penghantaran SEMI (Kelengkapan dan Bahan Separa Konduktor Antarabangsa) dilihat terus mencatatkan penambahbaikan sederhana.

"Kami difahamkan bahawa pemulihan akan hanya dapat dilihat dalam kalangan syarikat tempatan dalam masa tiga hingga enam bulan," katanya dalam satu nota pada Selasa.

Ia berkata jualan separa konduktor global terbaru pada Mach bertambah sedikit iaitu 0.9 peratus secara perbandingan tahun ke tahun apabila pertumbuhan yang baik sumbangan segmen Asia Pacific (+6.9 peratus) dan Eropah (+0.7 peratus) agak terhakis oleh kemerosotan mendadak segmen Jepun (-18 ) dan Amerika (-1.5 ).

Secara perbandingan bulan ke bulan, katanya, jualan separa konduktor global pada Mac 2013 meningkat 1.1 peratus daripada asas terendahnya pada Februari.

"Kami mengulangi keyakinan kami sebelum ini bahawa sebarang prospek cerah hanya boleh dilihat dalam enam bulan kedua 2013 ekoran peningkatan permintaan global bagi cip dalam keadaan ekonomi yang lebih baik ketika itu nanti," tegasnya.

-- BERNAMA

 

 

KENANGA RECEIVES NOD ON PRIVATE RETIREMENT SCHEME

MEDIA RELEASE FOR IMMEDIATE ISSUANCE : Kenanga Receives Nod on Private Retirement Scheme 

KUALA LUMPUR, 26 April 2013 - Kenanga Investors Berhad (“Kenanga Investors”) has 
been approved as a Private Retirement Scheme (“PRS”) Provider by the Securities 
Commission today. 

“We will be launching our PRS, known as OnePRS, to the mass retail market and also 
employers as soon as we receive product approvals from the regulators. OnePRS will 
enable participating organisations to enhance their employee remuneration package, and in turn, attract and retain talent,” commented Mr Chay Wai Leong, Group Managing Director, K & N Kenanga Holdings Berhad.

We are excited about OnePRS, and our own Kenanga Group will be participating in the Scheme for our employees to achieve additional retirement savings.”The approval by the Securities Commission is timely following Kenanga Investors’ completion of its acquisition of ING Funds Berhad last Friday. 

PRS, a voluntary long-term investment scheme, is part of the Economic Transformation Programme to address the nation's need to ensure adequate savings among retirees. It is designed to complement the existing mandatory contributions made to the Employees Provident Fund.

KENANGA INVESTORS BERHAD COMPLETED ACQUISITION OF ING FUNDS BERHAD

 

 

 

 K & N Kenanga Holdings Berhad (“KNKH”), through its fund management subsidiary, Kenanga Investors Berhad (“Kenanga Investors”) completed ...the acquisition of ING Funds Berhad (“IFB”). IFB is now a subsidiary of Kenanga Investors, a wholly owned entity of KNKH via Kenanga Investment Bank Berhad (“KIBB”). Group managing director Chay Wai Leong said they expect the integration of the two companies to be implemented over the next few months.

 

KUALA LUMPUR: K&N Kenaga Holdings Bhd has completed its acquisition of ING Funds Bhd which will see the merged entity having over 1,500 agents, a wider branch network and an enlarged customer base.

It said on Friday the acquisition was undertaken by its fund management subsidiary, Kenanga Investors Bhd - a unit of K&N Kenaga Holdings' investment bank Kenanga Investment Bank Bhd.

Group managing director Chay Wai Leong said they expected the integration of the two companies to be implement over the next few months.

He expected the merger of businesses to complete in the second quarter of this year, pending necessary approvals.

"With this acquisition, the merged entity will have over 1,500 tied agents marketing our award winning products, a wider branch network and an enlarged customer base.

"IFB also has a dynamic online presence giving us a platform to generate traction in the digital space," he added.

Post-merger, assets under management of the combined entities would be about RM5bil.

To recap, in December 2012, Kenanga Investors signed a conditional sale and purchase agreement to buy the 100% interest in ING Funds from ING --- which owned a 70% stake -- and its joint venture partner Tab Inter-Asia Services Sdn Bhd's 30% stake.