SIME, PETRA,AFFIN,LCL,KENCANA, MAGNA,NESTLE

Sime Darby Bhd’s (SIME MK, Hold, TP: RM8.10) unit Sime Darby Property Bhd is selling Caring Skyline Sdn Bhd to
Green Ridge Enterprises for RM68m. Caring Skyline was an investment holding company with a 49% stake in PT
Bhumyamca Sekawan, whose principal activity was in the renting of commercial and industrial space. (Financial Daily)( sell loh)
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Petra Perdana Bhd (PETR MK, Sell, TP: RM1.34) may have found a buyer for a block of its 55% stake in Petra Energy
(PEB). PPB stated that it had appointed TA Securities Holdings Bhd as the placement agent for the disposal of its entire
54.62% shareholding in PEB, comprising 106.5m shares at 50 sen each. PPB added that TA Securities had advised that it
procured a purchaser for up to 58.5m PEB shares (30%) and expected to effect a direct business transaction either yesterday
or today with a local investment bank in which PPB had a term loan facility. PPB would undertake to remit the proceeds of the
share placement into an account kept with the local investment bank. PPB has two term loan facilities with the bank. (Financial
Daily)( big sellloh)
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Affin Bank Bhd expects to maintain loan growth of between 8 to 10% next year. The country’s second smallest lender will
focus on consumer banking and SME lending. The bank also expects its non-performing loan (NPL) ratio to fall in line with the
industry average of 2.5% by the end of the year. Affin’s NPL ratio stood at 2.96% as at June 30 2009, from 3.3% at the end of
last year. Executive director (operations) Shariffudin Mohamad said currently 40% of the bank’s asset is consumer banking,
while the remaining 60% is corporate banking. He also said that its plan to start Islamic banking operations in China, is still
being discussed with its substantial shareholder, Bank of East Asia Ltd, on how best to penetrate the market. (BT)(worth to have look)

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LCL Corp Bhd’s subsidiary has defaulted RM72m of bank loans following the collapse of property prices in Dubai,
making it the first casualty on the local stock exchange in the aftermath of the Dubai debacle. LCL said yesterday it
received notice of demand from Affin Bank Bhd for RM22.76m owed in general lines and RM46.66m owed in blanket contract
financing. Its subsidiary LCL Furniture Sdn Bhd has also defaulted RM2.63m of murabahah working capital financing provided
by Bank Islam Malaysia Bhd. “LCL has been severely impacted by the recent financial turnmoil in Dubai, where property prices
have plunged resulting in delay and non payment of its receivables. Hence, LCL and its subsidiaries have been unable to meet
its repayment obligations,” the company said. LCL added that prior to the notices of demand, it has been in regular
negotiations with the banks to reschedule its loan payment. However, the defaulted bank borrowings will have a consequence
on the on-going bank borrowings of the LCL, which will also be declared default by 12 other banks under the cross default
clause. (Malaysian Reserve)( a gone case,major shareholder already "cabut" !)
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Kencana Petroleum Bhd is bidding for RM4bn worth of projects around the world, says its group chief executive officer,
Datuk Mokhzani Mahathir. He said the company had submitted bids for 15 projects in resource-rich locations such as Malaysia,
India, Australia, the Middle East and Indochina, and expected the results of those bids to be revealed in four months. He said
the integrated solutions and services provider for upstream oil and gas players now had an order book totalling RM800m that
would keep it busy until 2010. (Financial Daily)( wait!)
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Magna Prima Bhd (Magna Prima) unit Twinicon (M) Sdn Bhd has entered into a sale and purchase (S&P) agreement to
acquire a 22,280 sq m parcel of land in Bukit Jalil from Santari Sdn Bhd (Santari) for RM10.7m cash. The acquisition is
part of Magna Prima group’s plan to acquire the premium 10,587.5 sq m plot of land in the centre of the city where wellregarded
national-type Chinese school Lai Meng is currently situated. The Bukit Jalil plot is the new site for the relocation of Lai
Meng Primary School and Lai Meng Kindergarten. (Financial Daily)( sound good)
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Nestle Bhd will replace Parkson Holdings Bhd in the FTSE Bursa Malaysia KLCI (FBM KLCI) following the semi-annual
review approved by the FTSE Bursa Malaysia Index Advisory Committee yesterday. FTSE group and Bursa Malaysia Bhd said
that would take effect from Dec 21, and the next review would take place in June 2010. They said the reviews ensured that the
indices accurately reflected the markets they represented. (Financial Daily( good conservative stock to invest)