The Group operates within the support services for the telecommunication network industry in Malaysia. The Group is expected to benefit from the future plans and strategies as disclosed in the Prospectus of the Company dated 13 December 2017. These include building a new teleport facility, enhancing our operations and maintenance service and fiber optic installation and commissioning capability and sourcing for business opportunities in ASEAN countries, particularly Vietnam, Myanmar and Laos.
Under the deal, PUC will issue 64.6 million new shares — or slightly over 4.5% of its enlarged share capital — at 32.2 sen per share or RM20.8 million, while the balance of RM32 million will be paid on a staggered basis when Pictureworks meets its profit guarantee as outlined in the agreement, according to a filing with Bursa Malaysia.
Pictureworks provisions imagery capture and distribution platforms for major theme parks and other leisure and entertainment sites including the Shanghai Disney Resort in China, Hong Kong Disneyland Resort, Singapore’s Gardens by the Bay, Legoland Malaysia, and Kidzania Kuala Lumpur. It also holds the international licensing of imagery systems including Harry Potter: The Exhibition and Game of Thrones: The Touring Exhibition, among others. Currently, the Pictureworks group’s imagery system services are being offered in more than 30 sites.
The 33% stake in Pictureworks is valued at between RM57.05 million and RM73.3 million by FHMH Corporate Advisory Sdn Bhd, according to the announcement. Cheong has guaranteed that Pictureworks will achieve a PAT of RM14.8 million in FY18 and another RM20.5 million in FY19. Any shortfall will be compensated by Cheong, said PUC. “PUC expects that moving forward, its share of earnings from its 33% equity interest in Pictureworks may contribute 25% or more of the net profits of the PUC group and/or may result in a diversion of more than 25% of the net asset of the PUC Group,” it added.
“Note that due to the time difference between Malaysia and Russia, we can expect one match to kick off at 8pm Malaysian time, every day, during the event.”
Beer excise duty rose to RM175 per 100% volume per litre on March 1, 2016, from RM7.40 per litre previously, while the 15% ad valorem (according to value) tax was removed. “The new regulation on the legal purchasing age for alcoholic beverages, which raised the age from 18 to 21 effective Dec 1 2017, may encourage youngsters to switch to easily-available contrabands.”
“Beer and stout, which are typically of lower alcohol by volume, are taxed at a higher rate than wine and spirits, which contain higher alcohol levels.”
“For starters, TNB wants to know for sure if the Government has a golden share in Broadnet and if they are compelled to collaborate with the company,” said the sources.
“In some ways, Broadnet would be a competitor to TM. So it is only natural for the company to seek clarification as TM itself is indirectly owned by the Government through Khazanah Nasional Bhd,” said a source.
Minister Salleh last week was quoted as saying that the Nationwide Fiberisation Plan would, among other things, leverage TNB’s extensive fibre trunk network. “We do not encourage monopolies or exclusive arrangements as this may slow down the deployment of broadband infrastructure,” Salleh was quoted as saying by Bernama. The NFP, he said, was in line with Prime Minister Datuk Seri Najib Tun Razak’s announcement in this year’s budget, which was to double broadband speeds at lower prices by 2019.
“[With] the new outlets, coupled with the reopening of  outlets [at Genting Highlands] and the stabilisation of the indoor theme park operations at The Top at Komtar Tower in Penang, we should return to our glory days.”
The group’s net profit for FY17 also took a huge hit from the temporary closure of 14 outlets at First World Hotel in Genting Highlands in February this year due to the ongoing redevelopment and transformation of Resorts World Genting. Its earnings for FY17 more than halved from RM12.57 million the previous year.
OWG is building an integrated attraction zone on 70,000 sq ft of land called Ripley’s Believe It or Not Adventure Land within Resorts World Genting, following the closure of its previous site as part of the relocation and renovation works under the Genting Integrated Tourism Plan (GITP).
“If we can reach our target of [holding] 52 weekend events or 108 events a year at The Top, it would see our food service operation equalising if not more than the other segment. This can possibly happen in less than five years because our order book for the banquet hall is filling up,” she said.The group is also reopening its F&B outlets at the Sky Avenue mall, as well as a new food court at Genting Premium Outlets.
“Prospects for the rubber glove manufacturing sector remain strong, with increasing demand arising from switching trends towards nitrile glove. Nitrile glove now accounts for 61% of Malaysian rubber glove export. As overall demand for nitrile gloves increases, the market is seeing a rise in segmentation and differentiation, leading to higher demand for specialty gloves.”