Wednesday, November 4, 2009

Scomi Marine, Faber, Bina Puri, Time Engineering

Higher earnings for Scomi Marine
KUALA LUMPUR: Scomi Marine Bhd reported a 25.1% increase in net profit to RM25.52mil on revenue of RM116.11mil for the third quarter ended Sept 30. The company attributed the improved profit margin to the lower operating expenses, including bunker costs.In a statement, it said revenue dropped 4.6% to RM116.108mil from RM121.66mil in the previous corresponding quarter. President Mukhnizam Mahmud said the long-term fundamentals of the oil and gas and coal industries were still intact.


Faber profit up 46% in Q3
Faber Group Bhd posted a 46% increase in net profit to RM19mil for its third quarter ended Sept 30 (FY09), compared with RM13mil in the previous corresponding period.Revenue stood at RM197.8mil against RM163.1mil previously.In a statement, Faber attributed the growth to improved revenue and pre-tax profit contributions from its integrated facilities management division.


Bina Puri unit wins RM20mil job
Bina Puri Construction Sdn Bhd has secured a RM19.7mil project in Mabpai, Kota Kinabalu, to build a seven-storey apartment block, a clubhouse and related infrastructure facilities.The wholly-owned subsidiary of Bina Puri Holdings Bhd received the letter of award from Arkitek Oma Sdn Bhd for the Taman Tiara Phase One project.Bina Puri said in a statement the construction of the 30 apartments was expected to be completed in 18 months.Currently, the group’s order book stands at RM2.39bil as it managed to secure new projects worth RM1.41bil this year.


Time Engineering seeks removal of PN17 status
KUALA LUMPUR: TIME ENGINEERING BHD has sought the approval of Bursa Malaysia Securities Bhd for the lifting of its Practice Note 17 (PN17) status of the Main Market Listing Requirements. The company said on Tuesday, Nov 3 that it had fully addressed its financial and operational viability following the completion of its debt and capital restructuring. It said that it had written to Bursa Securities for the lifting of its PN 17 status and also withdrawal of an application not to go ahead with its private placement. "As such, with the notification to the SC today on the discontinuance of the proposed private placement, Time had completed all proposals for its restructuring exercise," it said. The share price fell six sen to 44.5 sen with 85.7 million shares done.

Source: The Edge

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