DOCSLIB.ORG

Ppb Group Berhad (“Ppb” Or “Company”)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Ppb Group Berhad (“Ppb” Or “Company”) PPB GROUP BERHAD (“PPB” OR “COMPANY”) I PROPOSED ISSUANCE OF 55,781,250 NEW ORDINARY SHARES OF RM1.00 EACH IN FFM BERHAD (“FFM”) (“FFM SHARES”), A WHOLLY-OWNED SUBSIDIARY OF PPB, TO PGEO GROUP SDN BHD (“PGEO”), A WHOLLY-OWNED SUBSIDIARY OF WILMAR INTERNATIONAL LIMITED (“WILMAR”) (“PROPOSED FFM SHARE ISSUANCE”); AND II POTENTIAL ACQUISITION(S) BY WAIKARI SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF FFM, OF 20% EQUITY INTEREST(S) IN SELECTED SUBSIDIARIES OF WILMAR IN THE PEOPLE’S REPUBLIC OF CHINA (“CHINA”) (“SELECTED COMPANIES”) (“POTENTIAL ACQUISITION(S)”) (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) 1. INTRODUCTION On behalf of PPB, CIMB Investment Bank Berhad (“CIMB”) is pleased to announce that FFM has entered into a subscription agreement dated 2 December 2010 with PGEO for the Proposed FFM Share Issuance (“Subscription Agreement”). On this even date, FFM has also entered into a memorandum of understanding with Wilmar for the Potential Acquisitions (“MOU”). 2. DETAILS OF THE PROPOSED FFM SHARE ISSUANCE 2.1 Pursuant to the Subscription Agreement, FFM proposes to issue 55,781,250 new FFM Shares, equivalent to 20% of FFM’s total enlarged issued and paid-up share capital to PGEO at an issue price of RM6.7786 per new FFM Share or a total cash subscription sum of approximately RM378 million (“Subscription Sum”). Both parties have agreed that the basis of the determination of the issue price of the new FFM Shares shall exclude certain identified assets and investment holdings held or previously held by FFM or its subsidiaries and / or associated companies (“Excluded Assets”), which shall accordingly be transferred or distributed to PPB or its subsidiary(ies) (if not already done), notwithstanding the completion of the Proposed FFM Share Issuance under the Subscription Agreement (“Completion Date”). 2.2 The Subscription Sum was determined after taking into consideration, amongst others: (i) FFM’s consolidated net assets based on its audited financial statements for the financial year ended 31 December 2009 (after adjusting for the Excluded Assets) of RM1.29 billion; (ii) the historical and future performance and earnings potential of FFM (after adjusting for the Excluded Assets); and (iii) the intention of FFM to declare a special dividend up to the amount of the Subscription Sum prior to the Completion Date (“Proposed FFM Special Dividend”). 2.3 The new FFM Shares to be issued pursuant to the Proposed FFM Share Issuance will, upon allotment and issue, rank equally in all respects with the existing FFM Shares, save and except that PGEO shall not have any rights, interests, entitlements and benefits whatsoever in and to any dividends declared on and from the date of the Subscription Agreement up to the Completion Date, provided such dividends (before taking into account any dividends arising from the Excluded Assets) shall not exceed the amount of the Subscription Sum, and it irrevocably waives and renounces all of its rights, interest, entitlements and benefits to any dividends in respect of or arising from the Excluded Assets on and from the date of the Subscription Agreement. 1 2.4 The Proposed FFM Share Issuance is conditional upon the approval of: (i) the Ministry of International Trade and Industry (and any conditions, if imposed, to be acceptable to both FFM and PGEO); and (ii) the shareholders of FFM and PGEO. 3. EFFECTS OF THE PROPOSED FFM SHARE ISSUANCE 3.1 Share capital and substantial shareholders’ shareholding The Proposed FFM Share Issuance will not have any effect on the issued and paid- up share capital of PPB and the substantial shareholders’ shareholdings in PPB. 3.2 Earnings Assuming the Proposed FFM Share issuance is completed in the first quarter of 2011, the Proposed FFM Share Issuance is not expected to have any material effect on the earnings and earnings per share of the PPB group for the financial year ending 31 December 2010. 3.3 Net assets (“NA”) and gearing Based on the latest audited consolidated financial statements of PPB as at 31 December 2009 and on the assumption that the Proposed FFM Share Issuance had been completed on 31 December 2009, the proforma effects of the Proposed FFM Share Issuance on PPB group’s NA and gearing are set out below: Audited as at After the Proposed FFM 31 December 2009 Share Issuance* RM 000 RM 000 Share capital 1,185,500 1,185,500 Reserves 12,901,042 13,099,617 Shareholders’ funds / NA 14,086,542 14,285,117 No. of ordinary shares in issue 1,185,500 1,185,500 (000) NA per ordinary share (RM) 11.88 12.05 Total borrowings (RM 000) 120,467 120,467 Gearing (times) 0.009 0.008 Note: * After taking into account the Proposed FFM Special Dividend of approximately RM378 million. 3.4 Shareholding structure of FFM Upon completion of the Proposed FFM Share Issuance, FFM will be 80% owned by PPB and 20% owned by PGEO. 4. INFORMATION ON THE PARTIES INVOLVED IN THE PROPOSED FFM SHARE ISSUANCE 4.1 Information on FFM FFM, a wholly-owned subsidiary of PPB, was incorporated in Malaysia in 1962. It was listed on the then Kuala Lumpur Stock Exchange on 11 August 1982 and was subsequently privatised and delisted on 14 October 2004. 2 The principal activities of FFM and its subsidiary companies consist of investment holding, grains trading, flour milling and animal feed manufacturing. FFM, its subsidiaries and associated company own and operate four (4) flour mills in Malaysia and one (1) each in Vietnam, Indonesia and Thailand respectively. The FFM group is currently constructing its fifth flour mill in Malaysia. 4.2 Information on PGEO PGEO was incorporated on 1 June 2000 and is held by Wilmar (65.76% directly), and the balance 34.24% held by PPB Oil Palms Berhad (a wholly-owned subsidiary of Wilmar). The principal activities of the PGEO group are the trading and marketing of edible oils and investment holding. Its subsidiaries and associated companies are engaged in the processing and marketing of edible oils and related products, manufacturing of animal feed ingredients, generation and sale of steam energy, broker in commodity futures, and investment holding. 4.3 Information on Wilmar Wilmar was incorporated in the Republic of Singapore on 14 August 1999 and was listed on the Singapore Exchange Securities Trading Limited on 20 July 2000. The principal business activities of the Wilmar group include oil palm cultivation, oilseeds crushing, edible oils refining, specialty fats, oleochemicals and biodiesel manufacturing and grains processing, the manufacture and distribution of fertilisers, and shipping. Wilmar has established an integrated agribusiness model that captures the entire value chain of the agricultural commodity processing business, from origination and processing to the branding, merchandising and distribution of a wide range of agricultural products. 5. ESTIMATED TIME FRAME FOR COMPLETION Barring any unforeseen circumstances, and subject to the relevant approvals being obtained, the Proposed FFM Share Issuance is expected to be completed in the first quarter of 2011. 6. MAJOR SHAREHOLDERS’ AND DIRECTORS’ INTERESTS To the best of the knowledge of the Directors, none of the Directors and / or major shareholders of PPB or persons connected to them have any interest, direct or indirect, in the Proposed FFM Share Issuance. 7. SALIENT TERMS OF THE MOU On this even date, FFM has also entered into the MOU with Wilmar to set out the intentions of the parties and facilitate discussions and negotiations for the Potential Acquisition(s). The Selected Companies pursuant to the Potential Acquisition(s) operate substantially in the same core business as FFM namely grains trading and processing and sale of flour and feed products and are spread over a large geographical area in China. It is the understanding of FFM and Wilmar that the purchase price for the sale and purchase of equity interests in the Selected Companies shall be negotiated and determined on a willing buyer and willing seller basis, after taking into account the net assets, capital contribution, holding cost and incremental land value. Further details of the Potential Acquisition(s) will be announced upon signing of the respective sale and purchase agreement(s). 3 8. RATIONALE AND BENEFITS OF THE PROPOSALS The Proposed FFM Share Issuance represents an opportunity for the FFM group to tap on the distribution network of the Wilmar group in countries in which the FFM group does not yet have a presence (i.e. China), and other countries in which the FFM group already operates (i.e. Vietnam and Indonesia). FFM would have an opportunity to expand into fast-growing economies, especially in countries where the per capita flour consumption is still relatively low and is expected to increase in future. Further, FFM would be able to gain a larger market share outside Malaysia more easily. There will be an immediate increase in access points to potential customers via the Wilmar group’s network, thus achieving greater economies of scale. The Proposed FFM Share Issuance will also result in an inflow of funds to the PPB group which could be used to finance its expansion plans downstream into the food processing segment including making ready-to-eat products for the Malaysian market and / or for the purpose of financing the Potential Acquisition(s). The Potential Acquisition(s) would enable FFM to be able to gain immediate access to the infrastructure and customer base in a country which may be difficult and time-consuming to build from scratch. Further, some of the Selected Companies have local entities as shareholders. These local partners may help navigate the complexities of operating in numerous regions which may have different regulations, hence potentially reducing the market risk of entering a new market in a foreign country.
Load more

Recommended publications
  • PPB GROUP (PEP MK, PEPT.KL) 11 Dec 2020
    CONSUMER PPB GROUP (PEP MK, PEPT.KL) 11 Dec 2020 Proxy to recovery in consumer sector Company report HOLD Gan Huey Ling, CFA (Initiation) [email protected] 03 2036 2305 Rationale for report: Initiation Investment Highlights Price RM18.74 Fair Value RM20.30 52-week High/Low RM19.96/RM15.00 We initiate coverage on PPB Group with a HOLD recommendation and fair value of RM20.30/share. Our fair Key Changes value of RM20.30/share for PPB is based on an FY21F PE Fair value Initiation of 22x. Although we like PPB for its sound fundamentals, EPS Initiation we believe that the group’s PE valuations are fair. YE to Dec FY19 FY20E FY21F FY22F Our PE assumption of 22x for PPB is 15% lower than the Revenue (RMmil) 4,683.8 3,952.6 4,492.0 4,691.0 FY21F PEs of 25x to 27x of some of the larger consumer Net profit (RMmil) 1,152.6 1,239.8 1,310.8 1,404.1 companies in Malaysia (Exhibit 1). We have applied a EPS (sen) 81.0 87.1 92.1 98.7 discount as PPB’s consumer operations are smaller than EPS growth (%) 7.2 7.6 5.7 7.1 the likes of F&N Holdings and Dutch Lady Milk Industries. Consensus net (RMmil) 0.0 1,152.0 1,291.0 1,345.0 DPS (sen) 31.0 33.0 34.0 35.0 PE (x) 23.1 21.5 20.3 19.0 We forecast PPB’s gross DPS to increase to 33.0 sen in EV/EBITDA (x) 58.8 78.9 55.8 51.2 FY20E from 31.0 sen in FY19 in line with the rise in the Div yield (%) 1.7 1.8 1.8 1.9 group’s net profit.
    [Show full text]
  • Simplified Consolidated Statements of Financial Position
    SIMPLIFIED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION Expansion Consistency THE VALUE PROPOSITION STORY OF PPB GROUP is about how PPB Group’s heritage of values and culture translate to growth, Growth consistency and care. The enduring passion of everyone within the Group has helped build a strong customer base and supportive stakeholders. Today, we are equally proud and humbled to tell the story of PPB Group’s value proposition. Quality Passion Care The Corporation 001 OUR PRODUCTS, OUR VALUE PROPOSITION. CONTENTS THE CORPORATION 008 Chairman’s Statement 016 Group Financial Highlights THE 017 Simplified Consolidated Statements FINANCIALS Of Financial Position 018 Directors’ Profiles 054 5-Year Group Financial Statistics 022 Group Corporate Structure 056 Segmental Analysis 024 Corporate Information 057 Share Performance 025 PPB’s Corporate Events And Investor Relations Activities 058 Additional Financial Information 026 Financial Calendar 059 Directors’ Responsibility 027 Corporate Governance Statement Statement 036 Audit Committee Report 060 Directors’ Report 039 Statement On Risk Management And Internal Control 041 Corporate Sustainability Statement 050 Additional Compliance Information THE FINANCIAL STATEMENTS 066 Consolidated Income Statement 067 Consolidated Statement Of Comprehensive Income 068 Consolidated Statement Of Financial Position THE 070 Consolidated Statement Of Changes In Equity PROPERTIES & SHAREHOLDINGS 072 Consolidated Statement Of Cash Flows 074 Income Statement 164 Properties Owned By PPB And Its Subsidiaries 074
    [Show full text]
  • Malaysian Invited Companies Company Name Country Robecosam Industry AMMB Holdings Bhd Malaysia BNK Banks Astro Malaysia Holdings
    Malaysian invited companies Company_Name Country RobecoSAM_Industry AMMB Holdings Bhd Malaysia BNK Banks Astro Malaysia Holdings Bhd Malaysia PUB Media Axiata Group Bhd Malaysia TLS Telecommunication Services Batu Kawan Bhd Malaysia CHM Chemicals British American Tobacco Malaysia Bhd Malaysia TOB Tobacco Bumi Armada Bhd Malaysia OIE Energy Equipment & Services CIMB Group Holdings Bhd Malaysia BNK Banks Dialog Group Bhd Malaysia CON Construction & Engineering Digi.com Bhd Malaysia TLS Telecommunication Services Felda Global Ventures Holdings Bhd Malaysia FOA Food Products Gamuda Bhd Malaysia CON Construction & Engineering Genting Bhd Malaysia CNO Casinos & Gaming Genting Malaysia Bhd Malaysia CNO Casinos & Gaming Hong Leong Bank Bhd Malaysia BNK Banks Hong Leong Financial Group Bhd Malaysia BNK Banks IHH Healthcare Bhd Malaysia HEA Health Care Providers & Services IJM Corp Bhd Malaysia CON Construction & Engineering IOI Corp Bhd Malaysia FOA Food Products IOI Properties Group Bhd Malaysia REA Real Estate Kuala Lumpur Kepong Bhd Malaysia FOA Food Products Lafarge Malaysia Bhd Malaysia COM Construction Materials Malayan Banking Bhd Malaysia BNK Banks Malaysia Airports Holdings Bhd Malaysia TRA Transportation and Transportation Infrastructure Maxis Bhd Malaysia TLS Telecommunication Services MISC Bhd Malaysia TRA Transportation and Transportation Infrastructure Nestle Malaysia Bhd Malaysia FOA Food Products Petronas Chemicals Group Bhd Malaysia CHM Chemicals Petronas Dagangan BHD Malaysia OIX Oil & Gas Petronas Gas BHD Malaysia GAS Gas Utilities
    [Show full text]
  • Financial Hegemony, Diversification Strategies and the Firm Value of Top 30 FTSE Companies in Malaysia
    Asian Social Science; Vol. 12, No. 3; 2016 ISSN 1911-2017 E-ISSN 1911-2025 Published by Canadian Center of Science and Education Financial Hegemony, Diversification Strategies and the Firm Value of Top 30 FTSE Companies in Malaysia Wan Sallha Yusoff1, Mohd Fairuz Md. Salleh2, Azlina Ahmad2 & Norida Basnan2 1 School of Business Innovation and Technopreneurship, Universiti Malaysia Perlis, Malaysia 2 School of Accounting, Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Malaysia Correspondence: Wan Sallha Yusoff, School of Business Innovation and Technopreneurship, Universiti Malaysia Perlis, Malaysia. E-mail: [email protected] Received: August 8, 2015 Accepted: January 18, 2016 Online Published: February 23, 2016 doi:10.5539/ass.v12n3p14 URL: http://dx.doi.org/10.5539/ass.v12n3p14 Abstract This study investigates the relationships between financial hegemony groups, global diversification strategies and firm value of the Malaysia’s 30 largest companies listed in FTSE Bursa Malaysia Index Series during 2009 to 2012 period. We chose Malaysia as an ideal setting because the findings contribute to the phenomenon of the diversification–performance relationship in the Southeast Asian countries. We apply hegemony stability theory to explain the importance of financial hegemony groups in deciding international locations for operations. By using panel data analysis, we find that financial hegemony groups are significantly important in international location decisions. Results reveal that the stability of financial hegemony in BRICS and G7 groups enhances the financial value of the Malaysia’s 30 largest companies, whereas the stability of financial hegemony in ASEAN groups is able to enhance the non-financial value of the firms.
    [Show full text]
  • Corporate Earnings Improved in 2Q
    Headline Corporate earnings improved in 2Q MediaTitle The Malaysian Reserve Date 03 Sep 2021 Language English Circulation 12,000 Readership 36,000 Section Companies Page No 10 ArticleSize 399 cm² Journalist S BIRRUNTHA PR Value RM 12,569 Corporate earnings improved in 2Q Expectations of a more robust commented the FBM KLCI component stocks delivered a set of 2Q21 results that recovery in the coming quarters had yet to show meaningful improvement could be on hold sequentially. He views this as due to the reintroduc- by S BIRRUNTHA tion of various pandemic restrictions against a backdrop of surging Covid-19 THE corporate sector's second-quarter infections which weighed on corporate (2Q) financial results reporting season financial performance. appears to be healthier in terms of face According to Ng, six FBM KLCI compo- value, with the number of companies nent stocks, namely, CIMB Group Holdings meeting and/or exceeding expectations Bhd (lower operating expenditure), Sime trumping those that missed, Public Invest- Darby Group Bhd (stronger vehicle and ment Bank Bhd (Publiclnvest) stated results heavy equipment sales), Sime Darby Plan- from the banking, plantation and consu- tation Bhd (higher crude palm oil prices), mer sectors exceeded expectations. IHH Healthcare Bhd (Covid-19-related "A closer look into the results will reveal patients and effective cost-saving initia- some extremes. Be it a function of over- •S^SL, * tives), Petronas Chemicals Group Bhd pessimism or under-estimation, results (higher product prices) and Tenaga Nasional
    [Show full text]
  • Ac 2021 61.Pdf
    Accounting 7 (2021) 1033–1048 Contents lists available at GrowingScience Accounting homepage: www.GrowingScience.com/ac/ac.html Can investors benefit from corporate social responsibility and portfolio model during the Covid19 pandemic? Ternence T. J. Tana* and Baliira Kalyebarab aFaculty of Business, Economics and Social Development, University of Malaysia Terengganu, Kuala Nerus, Terengganu, Malaysia bDepartment of Accounting and Finance, School of Business, American University of Ras Al Khaimah, United Arab Emirates C H R O N I C L E A B S T R A C T Article history: Since late 2019 and throughout 2020, the global economy has been experiencing difficult times due Received: November 15, 2020 to the outbreak of the lethal Coronavirus (COVID-19). This study looks at the financial impact of Received in revised format: this epidemic on the global economy using Malaysian market index i.e., FTSE Bursa Malaysia KLCI January 28 2021 before and during COVID-19. Measuring the financial impact of this epidemic on the Malaysia Accepted: March 2, 2021 Available online: economy may help policy makers to develop measures to avert similar financial catastrophic impacts March 2, 2021 on the global economy. The study uses Sharpe optimal and naïve diversification model to solve a scenario that factors in the level of corporate social responsibility (CSR) exhibited before and during Keywords: Corporate Social Responsibility the epidemic to measure the financial impact on the stock portfolio. The results show that the Naïve Diversification emergence of COVID-19exacerbated the already weak Malaysian economy. Our findings may help Optimal Portfolio the policy makers in Malaysia to develop and maintain techniques and policies that may mitigate the Sharpe Ratio negative financial impact and handle similar epidemics in the future.
    [Show full text]
  • FTSE Publications
    2 FTSE Russell Publications 28 October 2020 FTSE Malaysia Indicative Index Weight Data as at Closing on 27 October 2020 Constituent Index weight (%) Country Constituent Index weight (%) Country Constituent Index weight (%) Country AirAsia Group Berhad 0.16 MALAYSIA Hong Leong Bank 1.83 MALAYSIA Press Metal Aluminium Holdings 2.07 MALAYSIA Alliance Bank Malaysia 0.48 MALAYSIA Hong Leong Financial 0.66 MALAYSIA Public Bank BHD 9.5 MALAYSIA AMMB Holdings 1.1 MALAYSIA IHH Healthcare 2.99 MALAYSIA QL Resources 1.31 MALAYSIA Astro Malaysia Holdings 0.22 MALAYSIA IJM 0.87 MALAYSIA RHB Bank 1.3 MALAYSIA Axiata Group Bhd 2.49 MALAYSIA IOI 2.73 MALAYSIA Sime Darby 1.65 MALAYSIA British American Tobacco (Malaysia) 0.27 MALAYSIA IOI Properties Group 0.31 MALAYSIA Sime Darby Plantation 3.39 MALAYSIA CIMB Group Holdings 4.14 MALAYSIA Kuala Lumpur Kepong 2.05 MALAYSIA Sime Darby Property 0.38 MALAYSIA Dialog Group 3.3 MALAYSIA Malayan Banking 8.28 MALAYSIA Telekom Malaysia 0.93 MALAYSIA Digi.com 2.8 MALAYSIA Malaysia Airports 0.74 MALAYSIA Tenaga Nasional 7.53 MALAYSIA FGV Holdings 0.41 MALAYSIA Maxis Bhd 2.65 MALAYSIA Top Glove Corp 8.82 MALAYSIA Fraser & Neave Holdings 0.64 MALAYSIA MISC 1.9 MALAYSIA Westports Holdings 0.8 MALAYSIA Gamuda 1.48 MALAYSIA Nestle (Malaysia) 1.69 MALAYSIA YTL Corp 0.72 MALAYSIA Genting 1.34 MALAYSIA PETRONAS Chemicals Group Bhd 3.28 MALAYSIA Genting Malaysia BHD 1.11 MALAYSIA Petronas Dagangan 1.18 MALAYSIA Hap Seng Consolidated 0.93 MALAYSIA Petronas Gas 1.79 MALAYSIA Hartalega Holdings Bhd 5.25 MALAYSIA PPB Group 2.49 MALAYSIA Source: FTSE Russell 1 of 2 28 October 2020 Data Explanation Weights Weights data is indicative, as values have been rounded up or down to two decimal points.
    [Show full text]
  • ESG Ratings of Plcs Assessed by FTSE Russell# in Accordance with FTSE Russell ESG Ratings Methodology
    ESG Ratings of PLCs assessed by FTSE Russell# in accordance with FTSE Russell ESG Ratings Methodology Definition Top 25% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Top 26-50% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Top 51%- 75% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Bottom 25% by ESG Ratings amongst PLCs in FBM EMAS that have been assessed by FTSE Russell Stock Company Name Sector F4GBM ESG Grading Code (sorted By Alphabetical) Index Band 6599 AEON CO. (M) BHD CONSUMER PRODUCTS & SERVICES ** 5139 AEON CREDIT SERVICE (M) BHD FINANCIAL SERVICES Yes *** 7078 AHMAD ZAKI RESOURCES BHD CONSTRUCTION *** 5099 AIRASIA GROUP BERHAD CONSUMER PRODUCTS & SERVICES *** 5238 AIRASIA X BERHAD CONSUMER PRODUCTS & SERVICES ** 2658 AJINOMOTO (M) BHD CONSUMER PRODUCTS & SERVICES Yes *** 2488 ALLIANCE BANK MALAYSIA BERHAD FINANCIAL SERVICES Yes *** 5293 AME ELITE CONSORTIUM BERHAD CONSTRUCTION * 1015 AMMB HOLDINGS BHD FINANCIAL SERVICES Yes **** 6556 ANN JOO RESOURCES BHD INDUSTRIAL PRODUCTS & SERVICES * 6399 ASTRO MALAYSIA HOLDINGS BERHAD TELECOMMUNICATIONS & MEDIA Yes **** 6888 AXIATA GROUP BERHAD TELECOMMUNICATIONS & MEDIA Yes *** 5106 AXIS REITS REAL ESTATE INVESTMENT TRUSTS ** 3395 BERJAYA CORPORATION BHD INDUSTRIAL PRODUCTS & SERVICES ** 1562 BERJAYA SPORTS TOTO BHD CONSUMER PRODUCTS & SERVICES ** 5248 BERMAZ AUTO BERHAD CONSUMER PRODUCTS & SERVICES Yes **** 2771 BOUSTEAD HOLDINGS BHD INDUSTRIAL PRODUCTS & SERVICES ** 4162 BRITISH AMERICAN
    [Show full text]
  • TA Securities Monday, December 19, 2016 FBMKLCI: 1, 637.79 a Member of the TA Group
    TA Securities Monday, December 19, 2016 FBMKLCI: 1, 637.79 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 WWeeeekkllyy SSttrraatteeggyy Market View, News In Brief: Corporate , Economy , a n d Share Buybacks THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Kaladher Govindan Tel: +603-2167 9609 [email protected] www.taonline.com.my Market View Modest Year-end Window Dressing Could be on the Cards The local benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) stayed range bound last week, after earlier gains evaporated as the US Federal Reserve raised interest rates by 25 basis points as expected, for the second time in nearly a decade. However, the Fed guided for three rate hikes next year instead of two as earlier expected, forcing a weaker ringgit as foreign selling persisted to dampen local sentiment. Week-on-week, the FBM KLCI eased 3.63 points, or 0.22 percent to 1,637.79, with gains on Petronas Dagangan (+30sen), Hap Seng Consolidated (+21sen) and Public Bank (+18sen) overshadowed by losses on BAT (-RM1.54), Petronas Gas (-48sen), Hong Leong Financial Group (-40sen) and PPB Group (-22sen). Average daily traded volume and value last week mildly improved to 1.32 billion shares and RM1.66 billion, compared to the 1.12 billion shares and RM1.45 billion the previous week. So, as widely expected, the US interest rate went up by 25 basis points last week but the market was taken aback by the US Federal Reserve’s more hawkish stance now.
    [Show full text]
  • Ppb-Investor-Update-2018-2Qtr.Pdf
    INVESTOR UPDATE QUARTERLY REPORT • 30 JUNE 2018 FROM THE DESK OF THE CHAIRMAN Dear Shareholders, We are pleased to report that PPB Group Berhad’s (“PPB”) pre-tax profit increased by 14% to RM546 million in 1H2018. The increase was mainly due to higher contribution by our 18.5% associate, Wilmar International Limited and higher profits fromGrains & Agribusiness and Environmental Engineering & Utilities segments. Group revenue increased by 7% to RM2.23 billion in 1H2018 due to higher contribution from the Grains & Agribusiness and Environmental Engineering & Utilities segments. Profit for the period was higher at RM507 million compared with RM443 million in 1H2017. Accordingly, PPB recorded earnings per share of 34.7 sen for 1H2018 compared with 30.3 sen for 1H2017. INTERIM DIVIDEND The Board of Directors has declared an interim dividend of 8 sen per share for the financial year ending 31 December 2018, payable on 4 October 2018 to shareholders whose names appear in the Record of Depositors on 18 September 2018. REVIEW OF OPERATIONS The results of PPB’s business operations for 1H2018 are summarised as follows :- • Grains & Agribusiness segment’s revenue for 1H2018 increased by 6% to RM1.54 billion mainly attributable to higher sales volume from all flour mills. Segment profit increased by 30% to RM73 million mainly due to lower raw material costs and improved product margins from the feed division. • Consumer Products segment revenue for 1H2018 was RM333 million, down 3% from 1H2017 mainly due to lower sales of in-house products. Segment profit decreased by 46% to RM10 million for 1H2018 mainly due to the one- time gain in 1H2017 of RM8.0 million on sale of land and building, and weaker performance by the bakery division.
    [Show full text]
  • Ppb Group Berhad Investor Handbook 2005 Contents
    PPB GROUP BERHAD INVESTOR HANDBOOK 2005 CONTENTS 4 introduction 36 edible oils refining 5 corporate profile 38 engineering services 6 mission statement 40 environmental engineering, 7 corporate history waste management & utilities 9 corporate objectives 42 flour milling 10 corporate structure 44 glove manufacturing 12 board of directors 46 livestock farming 17 group management team 48 oil palm plantations 21 activities 50 packaging 22 amusement centre operations 52 property development 24 animal feed milling 54 sugar refining 26 chemicals manufacturing 56 group financial highlights 28 cinema operations 58 5-year group statistics 30 commodity trading 60 financial performance 32 consumer products distribution 62 movements in share capital 34 contract manufacturing 64 dividend record 65 investor relations schedule for 2006 ACTIVITIES 22 55 INTRODUCTION As part of PPB’s investor relations programme, we are publishing our fifth Investor Handbook to keep shareholders and the investing public informed of PPB Group’s diversified activities. The Investor Handbook is updated yearly and distributed with the Annual Report. We trust it will serve as a convenient reference guide for the reader to better understand PPB, to interpret its results and to appraise its future growth and direction. Through this better understanding, both the corporation and its shareholders are able to work together to build and grow PPB to enable it to provide increasing returns to its shareholders. PPB Group is constantly seeking to expand its core businesses and to invest in businesses which are synergistic to its existing operations in order to maintain its competitive edge in the market and to provide sustainable shareholder value growth.
    [Show full text]
  • Growth & Sustainability
    PPB GROUP BERHAD www.ppbgroup.com PPB GROUP BERHAD (8167-W) 17th Floor Wisma Jerneh 38 Jalan Sultan Ismail 50250 Kuala Lumpur Malaysia T +603 2117 0888 F +603 2117 0999 GROWTH & SUSTAINABILITY ANNUAL REPORT ANNUAL REPORT 2010 2010 The theme of ‘Growth and Sustainability’ reflects PPB Group’s vision and expansionary approaches in delivering quality products and services to customers as well as delivering optimum investment returns to shareholders and stakeholders. CONSUMER PRODUCTS THE FINANCIALS 5-Year Group Financial Statistics 46 THE CORPORATION Segmental Analysis 48 Share Performance Chart 49 Chairman’s Statement 08 Additional Financial Information 50 Group Financial Highlights 14 Directors’ Responsibility Statement 51 Simplified Consolidated Statements Of Financial Position 15 Directors’ Report 52 Directors’ Profiles 16 Financial Statements 59 Corporate Structure 20 Consolidated Income Statement 60 Corporate Information 22 Consolidated Statement Of Comprehensive Income 61 Group’s Corporate Events In 2010 23 Consolidated Statement Of Financial Position 62 Financial Calendar 24 Consolidated Statement Of Changes In Equity 64 Corporate Governance Statement 25 Consolidated Statement of Cash Flows 66 Audit Committee Report 32 Income Statement 69 Statement On Internal Control 35 Statement Of Comprehensive Income 69 Corporate Social Responsibility Statement 37 Statement Of Financial Position 70 Additional Compliance Information 42 Statement Of Changes In Equity 71 Statement Of Cash Flows 72 Notes To The Financial Statements 74 Supplementary
    [Show full text]