【MUHIBAH 5703 交流专区】睦兴旺

yanyansam

pinfung 发表于 12-8-2013 10:34 PM
又跌。。。。。

不要怕！戏还没做完。

pinfung

希望！！！

icy97

睦兴旺次季赚2073万

财经新闻 财经  2013-09-01 11:43
（吉隆坡31日讯）睦兴旺（Muhibah，5703，主板建筑股）2013财年次季（截至6月30日）净赚2073万1000令吉，比上财年同期净赚的1705万7000令吉，高出21.54%。

至于营业额则按年减少34.98%，至4亿660万2000令吉，低于上财年同期的6亿2533万6000令吉。

从首半年业绩来看，睦兴旺净利按年增20.69%，至4053万2000令吉，上财年同期为3358万3000令吉。

集团可取得较好的业绩表现主要是因为建筑、造船厂及特许经营业务表现胜于上财年首半年。

而营业额则从上财年同期的10亿4453万9000令吉，按年减少24.10%，至7亿9281万1000令吉。

单季每股盈利为5.09仙，高于上财年的4.20仙；首半年每股盈利则从8.26仙，提高至9.96仙。

根据文告指出，截至8月22日，睦兴旺持有20.2亿令吉的未入账订单合约，这些合约期限长达2016年。

其中，有10.5亿令吉的订单合约来自基建业务、8.32亿令吉来自起重机业务，而造船厂则有1.36亿令吉。[南洋网财经]

SUMMARY OF KEY FINANCIAL INFORMATION 30/06/2013

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/06/2013	30/06/2012	30/06/2013	30/06/2012
		$$'000	$$'000	$$'000	$$'000

1	Revenue	406,602	625,336	792,811	1,044,539
2	Profit/(loss) before tax	30,500	28,826	60,427	53,523
3	Profit/(loss) for the period	25,983	26,751	48,263	47,864
4	Profit/(loss) attributable to ordinary equity holders of the parent	20,731	17,057	40,532	33,583
5	Basic earnings/(loss) per share (Subunit)	5.09	4.20	9.96	8.26
6	Proposed/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 ($$)	1.2300		1.1200

icy97

攫取合約動力大‧睦興旺後市看俏

2013-09-24 17:30      
（吉隆坡24日訊）睦興旺工程（MUHIBAH,5703,主板建筑組）將從建築訂單擴充攫取更多工程計劃，同時也有望獲其他國油合約，而黃氏唯高達研究稱，該公司目前是估值最低的油氣領域相關股項，因此是累積買進的機會。

黃氏唯高達披露，自曼德勒機場特許經營競標計劃蒙損與提煉及石油化學綜合發展計劃（RAPID）遭展延後，該公司股價即從其高峰下滑17%。

“然而，我們認為這是累積該股的良好時機，因該公司是估值最低的油氣領域相關代理公司。＂盈利方面，黃氏唯高達稱，該公司今年首6個月盈利成長21%，主要受其20億令吉訂單以及柬埔寨機場特許經營的穩健經常性收入所帶動，並預料下半年盈利表現將更強勁，因下半年工程入賬進展轉佳。

黃氏唯高達表示，RAPID計劃遭展延至2017年杪，然而，該公司或在2014上半年可攫取一些合約。

“該公司與兩海外聯營夥伴在獲取國油製造執照之前即已獲RAPID計劃的預審資格，因此，我們相信該執照也可讓該公司獲得國油其他的岸內與岸外製造工程，而該公司的製造場擴充工作正進行中。＂“同時，鑑於該公司在緬甸已獲大量工作，我們相信該公司將持續競標更多的合約。＂至於該公司的近期催化因素，黃氏唯高達表示，該公司將從目前的11億令吉建築訂單擴充而獲得數項工程合約，進而讓盈利能見度推至2016年。

“同時，我們預期該公司目前僅達3分之1產能的船廠因受惠於良好供需動力而能夠攫取更多工程。＂黃氏唯高達重申睦興旺工程“買進＂評級，並維持目標價3令吉10仙。

截至今日下午4時，睦興旺工程無起落，掛2令吉33仙。（星洲日報／財經）

icy97

睦興旺工程 組財團獲近2.8億合約

企業財經6 Nov 2013 23:00
（吉隆坡6日訊）睦興旺工程（MUHIBAH，5703，主要板建築）的聯營財團獲頒總值8700萬美元（約2億7600萬令吉）機場翻新合約。

睦興旺工程向馬證交所報備，睦興旺工程與Vinci Construction Grands Prijects（簡稱VCGP）組成的聯營財團，即Societe Concessionnaires De L’Aeroport（簡稱SCA），獲頒兩項總值8700萬美元（約2億7600萬令吉）合約，建設和擴充終端建設和翻新柬埔寨金邊和暹粒機場。

根據報備文件，金邊和暹粒兩項合約的期限，分別為28個月和23個月，預計這兩項合約將在2015年底完成。

睦興旺工程預計，上述合約將為目前和未來財年的盈利和淨資產作出正面貢獻。

睦興旺工程持有該財團的30%股權。[中国报财经]

MUHIBBAH ENGINEERING (M) BHD

Type	Announcement
Subject	OTHERS
Description	AWARD OF DESIGN AND CONSTRUCTION CONTRACTS FOR THE TERMINAL BUILDING AND THE REFURBISHMENT OF THE PHNOM PENH AND SIEM REAP AIRPORTS IN CAMBODIA TO THE JOINT VENTURE COMPRISING MUHIBBAH ENGINEERING (M) BHD (“MUHIBBAH” OR “THE COMPANY”) AND VINCI CONSTRUCTION GRANDS PROJECTS (“VCGP”)
INTRODUCTION SOCIETE CONCESSIONNAIRE DE L’AEROPORT (“SCA”) is a joint venture consortium of Muhibbah and Vinci with the concession rights for the Built - Operate - Transfer contracts of three  international airports in Cambodia, i.e., Phnom Penh, Siam Reap, and Sihanoukville International Airports. In view of the rapid growth of airports passengers arrivals over the years and expected increasing trend of airports business, SCA has embarked on this capital expansion program to further extend and upgrade the international airports of Cambodia. The Board of Directors of Muhibbah (“the Board”) is pleased to announce that SCA had on 4 November 2013 awarded two contracts totalling USD87 million (equivalent to RM276 million) to a joint venture formed by VCGP and Muhibbah, of which Muhibbah has 30% interest, to construct and expand the terminal building and the refurbishment of the Phnom Penh and Siem Reap Airports in Cambodia (“the Contracts”). DURATION OF CONTRACTS The Contracts duration for the Phnom Penh Airport and Siem Reap Airport is 28 months and 23 months respectively and both are expected to be completed by the end of 2015. FINANCIAL EFFECTS The Contracts are expected to contribute positively to the earnings and net assets of Muhibbah Group for the current and future financial years. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS None of the Directors and/or major shareholders and persons connected to the Directors and/or major shareholders of Muhibbah have any interest, direct or indirect, in the Contracts. The Contracts do not have any impact on the share capital and/or shareholding structure of Muhibbah. DIRECTORS’ STATEMENT The Board, after considering all the relevant factors, is of the opinion that the Contracts are in the best interest of Muhibbah Group. This announcement is dated 6 November 2013

icy97

獲2.8億機場合約 睦興旺工程經常收入看升

財經股市7 Nov 2013 20:35
（吉隆坡7日訊）睦興旺工程（MUHIBAH，5703，主要板建築）獲柬埔寨金邊和暹粒機場合約，料可為公司帶來更高經常收入，該股早盤一度高漲9仙或4%，報2.44令吉，可惜漲勢未獲支撐，隨后收窄漲幅。

睦興旺工程開盤即揚6仙，以2.41令吉迎市，隨后一度上漲9仙至2.44令吉。休市時，該股收窄漲幅至4仙，報2.39令吉，半日成交量錄得149萬5400股。

閉市時，該股起6仙，報2.41令吉，成交量錄得226萬9200股。

睦興旺工程獲聯營財團Societe Concessionnaires De L’Aeroport頒發兩項總值8700萬美元（約2億7600萬令吉）合約，建設和擴充終端建設和翻新上述兩座機場。

這2座機場都由該財團經營管理，睦興旺工程擁有該財團30%股權。

肯納格證券研究指出，這2座機場在過去3年遊客人數增長迅速，因此財團宣佈擴展與翻新機場的消息，並沒有太大驚喜。

完成工程后，相信機場將會再度提高旅客流量，並可為睦興旺工程未來貢獻高可見性經常收入，預估公司每年可獲得1500萬令吉至2500萬令吉收入。

另外，該公司打算以8300萬令吉，增購聯營財團30%股權，該行認為，以公司目前財務狀況，這項收購不成問題。截至今年6月底，該公司共有3億5350萬令吉資金。

該行給于“跑贏大市”評級，目標價為3令吉。[中国报财经]

yanyansam

icy97 发表于 8-11-2013 12:34 AM
獲2.8億機場合約 睦興旺工程經常收入看升

財經股市7 Nov 2013 20:35

該行給于“跑贏大市”評級，目標價為3令吉。

好势料，还有上升潜能可以继续炒到3.20令吉

icy97

睦兴旺首3季净利涨15%

财经新闻 财经  2013-12-01 10:56
（吉隆坡30日讯）睦兴旺（MUHIBAH，5703，主板建筑股）现财年首9个月净利按年涨15%，至6063万8000令吉或每股盈利14.82仙，上财年同期为5270万7000令吉或每股盈利12.97仙。

前3季营业额则下跌21.9%，报12亿6825万令吉，上财年同期为16亿2471万4000令吉。

睦兴旺表示，净利交出增长表现，归功于对子公司--辉高（FAVCO，7229，主板工业产品股）增持股权至61.3%。

单看第3季业绩，睦兴旺净利扬5.1%至2010万6000令吉或每股盈利4.86仙，上财年同期为1912万4000令吉或每股盈利4.71仙；营业额则跌18%，报4亿7543万9000令吉，上财年同期为5亿8017万5000令吉。

展望未来，睦兴旺董事部表示，随着获国家石油公司（Petronas）颁发“岸外设备建设和主要岸内制造”的认证供应商执照，该集团已被邀请参与接下来的油气计划，预期将为未来财年带来贡献。[南洋网财经]

SUMMARY OF KEY FINANCIAL INFORMATION 30/09/2013

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/09/2013	30/09/2012	30/09/2013	30/09/2012
		$$'000	$$'000	$$'000	$$'000

1	Revenue	475,439	580,175	1,268,250	1,624,714
2	Profit/(loss) before tax	27,117	36,460	87,544	89,983
3	Profit/(loss) for the period	29,225	29,644	77,488	77,508
4	Profit/(loss) attributable to ordinary equity holders of the parent	20,106	19,124	60,638	52,707
5	Basic earnings/(loss) per share (Subunit)	4.86	4.71	14.82	12.97
6	Proposed/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 ($$)	1.2700		1.1200

icy97

挑战UEM 索偿案 睦兴旺无需接受仲裁

财经新闻 财经  2013-12-28 12:44
（吉隆坡27日讯）针对睦兴旺（MUHIBAH，5703，主板建筑股）不愿就UEM集团索偿接受仲裁，并且挑战该要求一事，已接获最终裁决，无需接受仲裁。

睦兴旺指出，该公司在12月23日从国际仲裁庭亚洲办事处的秘书处接获最终裁决。新加坡仲裁庭声明，该庭并没有权力审判UEM集团的要求———即要求睦兴旺就UEM集团索偿而接受仲裁。

尽管如此，睦兴旺及UEM集团仍需承担仲裁费用。睦兴旺早前向马交所报备，不愿就UEM集团索偿一事接受仲裁，并且挑战上述要求，同时也针对此事寻求法律咨询。

早前文告指出，睦兴旺是UEM集团在卡塔尔Salwa路建筑项目的次级承包商，该项目已在几年前完成。

睦兴旺去年收到来自国际仲裁庭亚洲办事处发出的通知，要求公司就UEM集团2650万令吉的索偿，接受仲裁。[南洋网财经]

Type	Announcement
Subject	MATERIAL LITIGATION
Description	UEM Group Bhd ("UEM") vs Muhibbah Engineering (M) Bhd (“MEB” or “Company”)
Further to the announcement dated 8 October 2012 and our last update pertaining to this case in the third quarterly result on 29 November 2013, the Board of Directors of MEB is pleased to announce that MEB had on 23 December 2013 received a Final Award (“Award”) from the Secretariat of the ICC International Court of Arbitration – Asia Office pursuant to MEB’s challenge to the Request for Arbitration ("Request") from UEM. The Arbitration Tribunal (“Tribunal”) in Singapore has declared that they have no jurisdiction to decide the dispute sets out in UEM’s Request and has awarded costs to MEB and UEM is to bear the costs of the Arbitration. This announcement is dated 26 December 2013.

icy97

買進劵商心頭好．油氣海港業務帶動 睦興旺工程轉盈可期

財經股市9 Jan 2014 20:43

券商 ：聯昌證券研究
目標價：3.05令吉

睦興旺工程（MUHIBAH，5703，主要板建築）旗下船塢、海港與基建工程業務穩，有望引領公司轉虧為盈，首半年若再獲新合約，可推升股價。

對于睦興旺工程來說，油氣與海港相關工程，是推動訂單成長的主力推手，從該公司週三（8日）在我們第6屆大馬企業日的業務匯報來看，整體表現可期。

該公司一直以來都積極競標油氣相關基建工程合約，目前競標的合約達40億至50億令吉，旗下船塢、海港與基建工程業務料可持續欣欣向榮穩步成長。

隨著馬石油聚焦國內市場，每年發展開銷600億令吉用以推動本地油氣發展，這將有利睦興旺公司起重機與船塢業務，我們雖維持每股盈利預估不變，但看好仍有上升空間。

目前，我們仍維持該公司目標價在3.05令吉不變，但首半年若再獲訂單，中短期內將成催升股價利好。

應適時累積持股

除了積極參與私人界工程，睦興旺也參與競標包括西海岸大道（West Coast Expressway）等政府工程，相信今年轉盈可期，該公司競標柬埔寨油氣基建工程更是意外驚喜。

該公司無論在海內外市場，都有穩定業務表現，投資者應適時累積持股，睦興旺工程仍是我們小型承包商中，最有吸引力股項。

週四（9日）閉市時，睦興旺工程收2.39令吉，起1仙，成交量161萬3700股。[中国报财经]

icy97

獲看好合約不斷 睦興旺工程盈利前景佳

財經股市22 Jan 2014 23:00
（吉隆坡22日訊）睦興旺工程（MUHIBAH，5703，主要板建築）近期股價走勢顯示，市場開始看好公司盈利前景，管理層確認上半年獲強勁合約，並持續從國內建築上升週期和油氣開銷受惠。

睦興旺工程招標書在本月增至40億到50億令吉之間，主要為油氣相關合約，包括柔佛石油提煉和石油化學綜合發展計劃（RAPID）潛在配套和再氣化工廠，乃至西海岸大道（WCE）工程和南巴生谷大道（SKVE）擴展計劃。

聯昌證券研究分析師認為，該公司起重機訂單，料可突破10億令吉歷史新高紀錄，船廠訂單在國內需求增長下亦獲得提振。

同時，睦興旺工程管理層對今年工程流充滿信心，分析師預計今年獲取基建工程將有所提升，由馬石油每年達600億令吉資本開銷油氣相關工程提振。

今年料貢獻逾60%

該公司油氣相關盈利預計在2014財年貢獻超過60%，對比去年為50%，由潛在油氣鋼鐵製造工程推動。睦興旺工程在去年取得馬石油鋼鐵製造執照，讓公司簡介與其他純油氣業者看齊。

睦興旺工程在小資本承包商中最具吸引力，加上油氣領域開銷增長具最大曝光率，因此可進行重估。

分析師維持睦興旺工程“增持”評級和3.05令吉合理價，該公司在今年兌現強勁訂單流，將成為每股重估凈資產值（RNAV）和每股盈利催化劑。

不過，睦興旺工程週三走跌，早盤一度挫至2.46令吉，休市報2.50令吉，跌3仙。睦興旺工程以2.49令吉掛收，跌4仙，有123萬7800股易手。[中国报财经]

icy97

睦兴旺工程　获3000万合约

财经 2014年2月4日
（吉隆坡4日讯）睦兴旺工程（Muhibah，5703，主板建筑股）获得价值3000万令吉的民都鲁国油液化天然气Train 9计划的钢铁供应合约。        

睦兴旺工程子公司--睦兴旺钢铁工业私人有限公司，在1月30日接获JGC（马）私人有限公司的合约通知书，为国油液化天然气在砂拉越民都鲁的Train 9计划的钢铁结构建造工作，提供人力、工厂及设备。

JCG是国油液化天然气9计划主承包商。

这项合约从2月开始生效，预计將在2015年第2季完工。[东方网财经]

Type	Announcement
Subject	OTHERS
Description	MUHIBBAH ENGINEERING (M) BHD (“MUHIBBAH” OR “THE COMPANY”) - AWARD OF CONTRACT FOR STEEL STRUCTURE ERECTION WORK FOR PETRONAS LNG TRAIN 9 PROJECT IN BINTULU, SARAWAK, MALAYSIA
INTRODUCTION The Board of Directors (“the Board”) of Muhibbah is pleased to announce that its wholly owned subsidiary, Muhibbah Steel Industries Sdn Bhd has on 30 January 2014, accepted the Letter of Award from JGC (Malaysia) Sdn Bhd ("JGC") for Steel Structure Erection Work to supply manpower, plant and equipment to erect structural  steel work for pipe rack, equipment supporting structure, platform and access way, stanchion and shelter for PETRONAS LNG Train 9 Project in Bintulu, Sarawak for a total contract sum of RM30 Million (“The Contract”). JGC is the main contractor of PETRONAS LNG 9 Sdn. Bhd., a wholly-owned subsidiary of PETRONAS for the Engineering, Procurement, Construction and Commissioning work for the construction of the 9th LNG Train and its associated facilities in the PETRONAS LNG Complex (“Complex”), in Bintulu Sarawak, Malaysia. Upon completion, PETRONAS LNG Train 9 will include gas receiving facilities, acid gas removal unit, dehydration and mercury removal unit, fractionation and liquefaction unit, LNG rundown unit and all the associated utilities and facilities. The LNG produced from the new train will be exported via the existing storage and loading facilities within the Complex. DURATION OF CONTRACT The Contract is scheduled to commence in February 2014 with a target date of completion by second quarter of 2015. FINANCIAL EFFECTS The Contract is expected to contribute positively to the earnings and net assets of Muhibbah Group for the current and future financial years. The Contract does not have any impact on the share capital and/or shareholding structure of Muhibbah. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS None of the Directors and/or major shareholders and persons connected to the Directors and/or major shareholders have any interest, direct or indirect, in the Contract. DIRECTORS' STATEMENT The Board, after considering all the relevant factors, is of the opinion that the acceptance of the Contract is in the best interest of Muhibbah Group. This announcement is dated 4 February 2014.

icy97

睦兴旺工程末季净赚2455万

财经 2014年3月1日
（吉隆坡1日讯）睦兴旺工程（MUHIBAH，5703，主板建筑股）2013財政年末季（截至12月31日止）营业额从10亿零81万令吉，按年跌36.89%，至6亿3157万令吉；同时取得2455万令吉净利，2012財政年同期净亏1亿4595万令吉。       

该公司2013財政年全年营业额从26亿2553万令吉按年下挫27.64%，至18亿9982万令吉；並取得8519万令吉净利；2012財政年蒙受9324万令吉净亏损。

派4.3仙股息
董事局建议派发每股4.3仙股息，比2012年同期的每股2.5仙高出2仙或80%。【东方网财经】

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

1	Revenue	631,569	1,000,811	1,899,819	2,625,525
2	Profit/(loss) before tax	46,453	-124,960	133,997	-34,977
3	Profit/(loss) for the period	37,429	-138,591	114,917	-61,083
4	Profit/(loss) attributable to ordinary equity holders of the parent	24,551	-145,948	85,189	-93,241
5	Basic earnings/(loss) per share (Subunit)	5.85	-35.91	20.69	-22.94
6	Proposed/Declared dividend per share (Subunit)	4.50	2.50	4.50	2.50
		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 ($$)	1.3300		1.1200

Type	Announcement
Subject	OTHERS
Description	MUHIBBAH ENGINEERING (M) BHD ("MEB" or "the Company") - Proposed First and Final Dividend
The Board of Directors of MEB is pleased to recommend a first and final tax exempt dividend of 9% (4.50 sen) per ordinary share of RM0.50 each in respect of the financial year ended 31 December 2013. The declaration of the first and final tax exempt dividend is subject to the approval of the Company's shareholders at the forthcoming Annual General Meeting of the Company. The dividend entitlement and payment dates will be determined by the Board of Directors at a later date. This announcement is dated 28 February 2014.

icy97

合約訂單料放緩‧睦興旺財測維持

2014-03-03 17:30      
（吉隆坡3日訊）睦興旺工程（MUHIBAH,5703,主板建筑組）2013財政年轉虧為盈獲利8千520萬令吉，肯納格研究維持2014年獲利8千740萬令吉財測，調高2015年財測14%至1億零100萬令吉。

分析員指出，睦興旺工程目前總訂單達18億3千萬令吉，主要為建築7億1千900萬令吉、起重機10億6千萬令吉、船塢業務4千700萬令吉，這可忙碌至2016年。

“預料訂單會放緩（各大訂單今年完工），仍積極新訂單，新近獲國油執照，相信可獲很多國內國際油氣訂單。”

放眼的訂單包括邊佳蘭綜合提煉與石化中心（RAPID）計劃、國內海事工程、海外造船業等。

全年轉虧為盈，2012財政年則受柔佛亞洲石油中心（APH）主要承包商所累，基於A P H因無力還債被大馬會計公司BBDOBinder接管，導致睦興旺工程蒙受龐大註銷和虧損，並虧損達9千320萬令吉。

按季計，第四季淨利增長22%，主要是建築與起重機驅動，預期這些訂單今年便完成，可獲更高賺益。起重機業務方面，子公司輝高（FAVCO,7229,主板工業產品組）淨利增長29%，主要受10億令吉新訂單驅動。

第四季派發單一與終期股息4.5仙，或週息率1.9%；預計2014與2015財政年派5仙股息，或達2.1%週息率。

維持睦興旺“超越大市”評級，目標價3令吉不變。（星洲日報／財經‧報道：張啟華）

yanyansam

我准备开始放所有的票鸟huat啊。。。。

icy97

Notice of Interest Sub. S-hldr (29A)

MUHIBBAH ENGINEERING (M) BHD

Particulars of Substantial Securities Holder

Name	Employees Provident Fund Board
Address	Tingkat 19, Bangunan KWSP Jalan Raja Laut 50350 Kuala Lumpur
NRIC/Passport No/Company No.	EPF ACT 1991
Nationality/Country of incorporation	Malaysia
Descriptions (Class & nominal value)	Ordinary shares of RM0.50 each
Name & address of registered holder	Citigroup Nominees (Tempatan) Sdn Bhd Level 42, Menara Citibank 165 Jalan Ampang 50450 Kuala Lumpur

Date interest acquired & no of securities acquired
Currency	Malaysian Ringgit (MYR)
Date interest acquired	28/02/2014
No of securities	4,026,900
Circumstances by reason of which Securities Holder has interest	Purchase of shares
Nature of interest	Direct Interest
Price Transacted ($$)
Total no of securities after change
Direct (units)	21,766,100
Direct (%)	5.17
Indirect/deemed interest (units)	0
Indirect/deemed interest (%)	0
Date of notice	03/03/2014

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Acquired	03/03/2014	407,600	0.000

Circumstances by reason of which change has occurred	Transaction of securities by substantial shareholder
Nature of interest	Direct Interest
Direct (units)	22,173,700
Direct (%)	5.26
Indirect/deemed interest (units)	0
Indirect/deemed interest (%)	0
Total no of securities after change	22,173,700
Date of notice	04/03/2014

icy97

18億訂單在手‧睦興旺淨利有望破億

2014-03-20 16:33      
（吉隆坡20日訊）睦興旺工程（MUHIBAH,5703,主板建筑組）截至2月獲逾18億令吉訂單，未來在油氣、建築起重機等業務再添訂單機會高，柬埔寨機場每年有約2千500萬令吉稅前盈利，黃氏唯高達預測今年淨利增長32%至突破1億令吉。

截至今年2月獲，該公司共有訂單18億3千萬令吉，58%或10億6千400萬令吉來自起重機，其餘39%或7億1千900萬令吉來自建築業，只有3%來自船塢業務。

分析員說：“柬埔寨金邊與暹粒機場搭客去年按年增長18%至510萬令吉，一半營收來自搭客機場稅，預料今明兩財政年可獲2千300萬至2千500萬令吉稅前盈利。”

輝高起重機業務表現不錯

至於該公司旗下輝高（FAVCO,7229,主板工業產品組）起重機業務，可在油氣主導10億令吉訂單再添10%至15%，其岸外起重機需求具活力。

分析員說：“新加坡計劃把轉運港口搬遷至西部的大士（Tuas），以其卓越紀錄意味可能獲更多工程；該公司曾參與也門液化天然氣碼頭和新加坡裕廊島地平線儲油終站。”

國油綜合提煉與石化中心（RAPID）計劃料第二季頒佈工程，有信心從該計劃獲建築工程。萴競標10至20億令吉道路工程，也競標西海岸大道（WCE）工程，之前在建南巴生河流域大道（SKVE）具專精工藝。旗下船塢組訂單目前只達4千700萬令吉，有望增三倍。

建築業與船塢業務獨資擁有，起重機業務持股62%，機場與道路佔21%，黃氏唯高達維持“買進”評級，目標價維持3令吉20仙。（星洲日報／財經‧報道：張啟華）

limkiwi

Muhibbah Engineering - An Old Name With a New Angle

Author: kiasutrader   |   Publish date: Fri, 28 Mar 09:34

http://klse.i3investor.com/blogs/rhb/49103.jsp

We  initiate  coverage  on  Muhibbah  with  a  BUY  call  and  SOP-based MYR3.35  FV.  The  group  has  become  more  O&G-centric  following  the awarding  of  an  onshore fabrication license by Petronas. We believe it will  be  one  of  the  beneficiaries  of  the  RAPID  project.  We  forecast earnings  to  grow  at  a  three-year  CAGR  of  24.5%  on  the  back  of  a healthy orderbook from Muhibbah’s construction and crane division.

• Background.  Largely  an  infrastructure  construction  group,  Muhibbah Engineering (Muhibbah)’s operations include:  i) crane manufacturing via a  61.8%-owned  subsidiary,  Favelle  Favco  (FFB  MK,  NEUTRAL,  FV: MYR3.70), ii) shipbuilding and services,  and iii) airports and federal road management concession.
• Look  past  the  Asia  Petroleum  Hub  (APH).  Management  has  fully provided for the APH project that failed to take off in 2009. Muhibbah has recognised MYR400m  in total  as  at  FY12 and is cautious  on  any writeback in the future.
• Getting more oil & gas (O&G)-centric.  With the award of the offshore facilities  construction  –  major onshore fabrication  (MOF)  license in June 2013,  we  believe  it  opens  up  doors  for  Muhibbah  to  bid  for  onshore fabrication works directly rather than being sub-contracted or through a consortium.
• A new chapter.  From the aftermath of  the  APH and the last provision being fully provided for in FY12, we believe earnings are set to grow by a 3-year  CAGR  of  24.5%  on:  i)  major  onshore  fabrication  works  and infrastructure  construction  opportunities  in  both  the  domestic  and international  markets,  ii)  healthy  demand  for  offshore  cranes ,  and  iii) offshore support vessel (OSV) renewal.
• Initiate  with  BUY,  SOP-based  MYR3.35  FV.  We  initiate  coverage  on Muhibbah  with  a  BUY  call.  Our  SOP-based  MYR3.35  FV  is  based  on target FY14 P/Es  of  10x on its infrastructure construction segment, 11x to its crane manufacturing business and 11x to its shipbuilding division. The concession segment is valued via DCF and is worth an estimated MYR0.80/share.  Upside  risk  include:  i)  its  federal  road  maintenance concession  being  extended  another  10  years,  and  ii)  garnering  more infrastructure construction contracts, exceeding our MYR3bn  estimate.
  

Corporate Background

Four  major  business  segments:  i) infrastructure  construction,  ii)  crane manufacturing,  iii)  shipbuilding,  and  iv) concession  rights  to  manage  and  maintain airports  in  Cambodia  and  federal  roads  in four states in Malaysia

The jack of all trades. Muhibbah was established in 1972 by Mac Ngan Boon. It was listed  on  Bursa  Malaysia  22  years  later  and  has  grown  into  a  major  infrastructure construction group in Malaysia.

Muhibbah’s  infrastructure  construction  division  provides  engineering,  procurement,construction  and  commissioning  (EPCC)  capabilities  for:  i)  liquefied  natural  gas (LNG) jetties,  ii)  oil terminals,  iii)  oil storage tanks,  iv) laying  gas pipes,  v)  bunkering facilities,  vi)  ports,  vii)  bridges,  viii)  dams,  ix)  marine  facilities,  and  x)  infrastructure works.

The  group  holds  a  61.8%  stake  in  Favelle  Favco,  a  crane  manufacturer  that constructs offshore pedestal cranes for the O&G exploration and production (E&P) industry as well as the onshore construction market.

Through its wholly-owned subsidiary, Muhibbah operates a shipyard that constructs various types of offshore support vessels (OSVs) such as anchor handling tug boats (AHTS)  and supply vessels. It also offers ship maintenance services for  the  offshore O&G industry.

Muhibbah’s  concession  division  generates  revenue  through  its  right  to  receive income  from  managing  two  international  airports  and  one  domestic  airports  in Cambodia as well as federal road maintenance concessions in four Malaysian states.

Corporate Milestones

Muhibbah’s  legacy  spans  across  an impressive 42 years since its establishment in 1972

Establishing  a  presence  since  1972.  Muhibbah  was  incorporated  in  1972  as  a marine  construction  specialist  in  Malaysia.  It  subsequently  established  itself  as  an international  O&G  and marine engineering  player and was listed on Bursa Malaysia in 1994.

Crane  manufacturer with  a niche.  Muhibbah  ventured beyond  Malaysia  when  its acquired Favelle Favco Cranes in 1995.  The group  proceeded to set up a facility in the  US,  ie  Harlingen  Port,  Texas,  in  1996.  It  further  established  itself  in  the  crane manufacturing industry when it acquired Kroll in 1997. The latter  specialises in allelectric  hammerhead  cranes,  including  pedestal,  ship,  wharf  and  special  purposed variants. Both crane manufacturer have their respective niche and are not competing head-to-head on with each other. Muhibbah  ventured into the shipbuilding and repair services segment in 1996 and now owns a shipyard in Port Klang, Selangor.

Concession rights to airports in Cambodia.  A successful partnership with Francebased Vinci Construction provided Muhibbah with an inroad into Cambodia. It has the concession  rights  to  manage  three  Cambodian  airports  through  a  21%  stake  in Societe  Concessionnaire  de  L’Aeroport  (SCA)  since  2001.  That  same  year,Muhibbah’s 21% associate Roadcare (M) SB was granted a 15-year concession to maintain federal roads in four states in Malaysia.

The  group  was  recently  awarded  the  license  to  construct  offshore  facilities  by Petronas

Shareholder Composition
Shareholder  composition  remains  intact.  Muhibbah  remains  tightly  held  by  the same  group  of  shareholders, ie  co-founder  Mac  and  Malaysian  Government-linked funds  Lembaga Tabung Haji (LTH)  and  the  Employees Provident Fund (EPF),  as of four years ago. Back then, all three held approximately 41.8%  collectively. Currently, the three parties hold approximately 36.0%.

Source: RHB/servlets/staticfile/236477.jsp

icy97

Notice of Person Ceasing (29C)

MUHIBBAH ENGINEERING (M) BHD

Particulars of substantial Securities Holder

Name	Lembaga Tabung Haji
Address	201, Jalan Tun Razak, Peti Surat No. 11025 50732 Kuala Lumpur
NRIC/Passport No/Company No.	ACT 5351995
Nationality/Country of incorporation	Malaysian (Government Agency)
Descriptions (Class & nominal value)	Ordinary shares of RM0.50 each
Date of cessation	15/04/2014
Name & address of registered holder	Lembaga Tabung Haji 201, Jalan Tun Razak Peti Surat No. 11025 50732 Kuala Lumpur CIMB-Principal Asset Management Berhad Level 5, Menara Milenium 8, Jalan Damanlela, Bukit Damansara 50490 Kuala Lumpur
Currency	Malaysian Ringgit (MYR)
Number of securities disposed	1,382,600
Price Transacted ($$)	0.000
Circumstances by reason of which a person ceases to be a substantial securities Holder	Transaction of securities by substantial shareholder
Nature of interest	Direct Interest
Date of notice	05/05/2014

icy97

睦兴旺董事变动

财经新闻 财经  2014-05-17 12:37
（吉隆坡16日讯）睦兴旺（MUHIBAH，5703，主板建筑股）宣布数项人事变动，现年89岁的主席莫哈末泰益依布拉欣及数名董事将退休。

该公司向马交所报备，莫哈末卸任后，主席之位将由现任副主席丹斯里查卡利亚阿都哈密接棒。

根据该公司文告，非独立非执行董事林德兴（译音），和执行董事刘平麟（译音）与拿督斯里拉惹阿莫博士等人，已为公司服务超过9年。

因此，他们将根据马交所2012年企业监管条例要求退休。

同时，睦兴旺将委任其总财务长李宝娟为执行董事，拿督莫哈末卡玛鲁丁哈山为独立非执行董事。【南洋网财经】

1	15 May 2014	MUHIBBAH ENGINEERING (M) BHD	Change in Boardroom
2	15 May 2014	MUHIBBAH ENGINEERING (M) BHD	Change in Boardroom
3	15 May 2014	MUHIBBAH ENGINEERING (M) BHD	Change in Boardroom
4	15 May 2014	MUHIBBAH ENGINEERING (M) BHD	Change in Boardroom
5	15 May 2014	MUHIBBAH ENGINEERING (M) BHD	Change in Boardroom
6	15 May 2014	MUHIBBAH ENGINEERING (M) BHD	Change in Boardroom
7	15 May 2014	MUHIBBAH ENGINEERING (M) BHD	Change in Boardroom
8	15 May 2014	MUHIBBAH ENGINEERING (M) BHD	Change in Boardroom
9	15 May 2014	MUHIBBAH ENGINEERING (M) BHD	Change in Boardroom
10	15 May 2014	MUHIBBAH ENGINEERING (M) BHD	Change in Boardroom