In the News: Supermax, Maybank, MRCB, POS, MPHB

Supermax Corp, a Malaysian rubber glove maker, said it raised its internal after-tax profit target to RM168 million for 2010 from RM136 million, to reflect higher demand for its products, following US healthcare reforms.

Malayan Banking Bhd's (Maybank) dividend re-investment plan, expected to be effective in 2Q 2010, is a better option compared with the rights issue in strengthening its share capital base and capital position, said its chief executive officer, Datuk Seri Abdul Wahid Omar. He said Maybank’s policy was to pay between 40 and -60 per cent of its profit after tax and minority interest as dividend.

Chief executive officer Mohamed Razeek Hussain Mericar said Malaysian Resources Corp (MRCB) wants to participate in a plan by the government and the Employees Provident Fund to form a venture to promote the development of 3,000 acres of government land in Sungai Buloh, outside Kuala Lumpur.
The comment comes after Prime Minister Datuk Seri Najib Razak said yesterday that the government and the Employees Provident Fund, the biggest shareholder of Malaysian Resources, will form a joint venture to promote the development of the land.

The government's investment arm, Khazanah Nasional Bhd, hopes to conclude the divestment of a 32.2 per cent stake in Pos Malaysia Bhd within this year. It was reported that the 32 per cent Pos Malaysia stake is worth about RM390 million.

Shares of Multi-Purpose Holdings Bhd, a Malaysian betting and financial services group, are worth as much as RM3.24 each to reflect its plan to roll out property projects this year, CIMB Investment Bank Bhd said. -- Bloomberg