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Stocks In Focus MY (Amcorp, Datasonic, TRC Synergy) – 30/03/2015
Malaysia Daily Bulletin | 30 March 2015

Amcorp In Joint Venture To Develop London Properties For GDV RM5.5 Billion

  • Amcorp Properties is teaming up with Temasek Holdings, Hotel Properties (HPL) and UK developer, Native Land (NL), in acquiring two London properties (Sampson House and Ludgate House) for GBP308 million and undertaking a mixed-used redevelopment for the property.
  • A joint company (JV), Bankside Quarter (Jersey), will be set up, with Amcorp, Temasek and HPL each holding a 30 percent stake and NL holding the remaining 10 percent.
  • Located in the heart of London’s South Bank, along River Thames, the JV will redevelop the property into a world class residential led mix development complete with state-of-the-art offices, retail and leisure facilities.

Significance:  The estimated gross development value is in excess GBP1 billion  (approximately RM5.5 billion), the completed project is expected to transform the high traffic location on the South Bank into a landmark riverside destination along the River Thames.

Datasonic Group Inks RM32.6m Contract

  • Datasonic Group accepted the letter of award from the Ministry of Home Affairs for a RM32.6 million contract, for the maintenance services for personalisation process at the National Registration Department of Malaysia for two years, commencing from 1 May 2015 to 30 April 2017.
  • Under the award, Datasonic is required to furnish a performance bond of approximately RM0.8 million to the Ministry of Home Affairs, subjected to normal business risks such as increase in cost due to any escalation of material costs and contractual terms including default provisions.
  • The management has said that it would put in place control measures and operational procedures to reduce the impact or likelihood of such events.

Significance: The contract is expected to contribute positively towards future earnings for the financial year ending 31 March 2016 and the following financial years for the duration of the contract.

TRC Synergy Clinches RM53.9m Building Job

  • TRC Synergy clinched another building job thorough its wholly-owned subsidiary, Trans Resources, awarded by Putrajaya Homes, to construct houses in Putrajaya for RM53.9 million.
  • TRC has secured jobs worth approximately RM114 million in the current financial year ending December 2015, expecting to yield roughly RM2.5 million of net profit over the construction period.
  • The new job consisting construction and rectification works of 50 units of three-storey semi-detached houses, 10 units of two-storey semi-detached houses and associated works at Plot 8R7, Precint 8, Malaysia will be completed within a period of 12 months and should start contributing to the group’s earnings in the near term.

Significance: TRC Synergy holds a positive outlook, but is wary for potential margin compressions from cost over-runs and possible delays due to recent site accidents.

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