KLK,TNB,HLB,MAYBANK, SPSETIA,YNH,

BURSA still in the positive zone ,surviving well. even with ---120 points of dows last week........a good sign for the NEW YEAR 2010?
Kuala Lumpur Kepong Bhd (KLK MK, Hold, TP: RM15.22) is looking to expand its plantation and oleochemicalbusinesses this year via acquisitions. With RM1.3bn of cash, this is in line with KLK’s expansion strategy to build strongteams to manage its upstream and downstream activities. KLK is working on increasing synergies between its upstream anddownstream operations by integrating the plantation and oleochemical businesses to reduce earnings volatility, according toplantations director Roy Lim. He added that going forward, KLK expects to improve both plantation and oleochemicalbusinesses due to higher commodity prices, as well as loss-making sectors through reorganisation and restructuring. The lossmaking units are primarily the retailing and neutraceutical businesses. (Financial Daily)
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Two international credit rating agencies, namely Standard & Poor's Rating Services (S&P) and Fitch Ratings, haverevised Tenaga Nasional Bhd's (TNB) (TNB MK, Buy, TP: RM9.90) ratings to better reflect the national utility's currentprofile. S&P has upgraded its corporate credit ratings on TNB to "BBB+" from "BBB". It kept the outlook at stable. The ratingagency has also upgraded TNB's Asean scale ratings to "axA+" from "axA". At the same time, the issue ratings on the seniorunsecured notes issued by TNB and the US$350m (RM1.2bn) senior unsecured note issued by TNB Capital and guaranteedby TNB were also raised to "BBB+" from "BBB". The upgrade reflects TNB's improved standalone credit profile following therecent and more frequent tariff adjustments, which point to an enhanced tariff setting mechanism. (BT)
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The board of EON Capital Bhd (EON Cap), which met last week was advised to seek Bank Negara approval to startnegotiations on an institutional level with Hong Leong Bank Bhd (HLB) (HLBK MK, Hold, TP: RM8.71) on the latter’sproposed buyout offer. Sources indicated that the advice was based on the fact that the board had a fiduciary duty to obtainthe consent of the authorities to commence formal discussions on an institutional level between 2 anchor banking groups.Currently, 2 major shareholders – Rin Kei Mei and Tan Sri Tiong Hiew King – have sought and obtained the nod to negotiateon an individual basis for the sale of their indirect stakes totalling 31.7%. HLB is also believed to have approached BankNegara to talk to EON Cap as an institution, and not to individual or targeted shareholders, on its proposed takeover offer.However, it is believed that the approval is still pending. (Starbiz)
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Malayan Banking Bhd (Maybank) (MAY MK, Buy, TP: RM8.10) kicked off the new year by launching two mortgagepackages – new MaxiHome and MaxiShop Fixed Rate – which offer a variety of three, five or 10-year fixed rates. “Thesetwo exclusive packages are offered from Jan 1 to June 30, 2010,” head of consumer banking, senior executive vice-president,Lim Hong Tat said. The MaxiHome package is aimed at customers seeking interest rates stability and sustainable cashflowduring the initial first few years of property purchase, with less worry on base lending rates (BLR) fluctuation in the near future.The package offered the best in town for fixed-rates home loans starting as low as BLR minus 1.8% for property underconstruction and completed properties, Lim said. As for the MaxiShop, rates are as low as BLR minus 1.40% for those underconstruction and for completed properties. (Starbiz)
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Property developer SP Setia Bhd (SPSB MK, Buy, TP: RM4.05), may build towers and buildings at the multi-billionringgit Setia City commercial hub, its flagship township in Shah Alam, Selangor, by as early as 2012. The 63.2ha Setia Citywill be developed in two phases. Phase 1 comprises the 1.23m square ft Setia City Mall, worth RM750m, and a central park,estimated to cost more than RM10m. Phase 2 will feature more than 20 low- and high-rise buildings, including office towers,corporate towers, serviced apartments, institutions and hospitals. (BT)
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YNH Property Bhd (YNH) (YNHB MK, Hold, TP:RM1.72) expects to start work on Menara YNH within six months. Theproject is to be built on three acres on Jalan Sultan Ismail, Kuala Lumpur. YNH head of corporate strategy Daniel Chan saidthe company was currently making amendments to the project design to improve efficiency of tenant space by 10% to 15%.The green project will have total net lettable space of 1.5m sq ft. Chan said the project was within the company’s target andwould be completed in five years. The project will have two 45-storey office blocks with 600,000sq ft of lettable space each,with a retail podium below. The GDV will be around RM2bn, averaging about RM1,500 per sq ft. Work on the retail podiumwould start first and would be completed within three years. A group of local and foreign investors had early last year signed asale and purchase agreement for 300,000sq ft of retail space for RM300m. (Starbiz)