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Posted by on in Business
UMW Oil & Gas may buy more rigs to expand in Southeast Asia

(Apr 23): UMW Oil & Gas Corp., a Malaysian oil and gas services provider, may buy more jack-up rigs to tap rising demand as it bids for $1.1 billion worth of contracts in Southeast Asia this year.

The company has four drilling rigs, which will be doubled to eight by 2015, President Rohaizad Darus, 49, said in a Bloomberg interview yesterday. It expects delivery of its fifth as early as next week, he said.

UMW Oil & Gas completed a 2.36 billion ringgit ($722 million) initial public offering, the biggest in Malaysia last year, to finance its rig expansion. It is seeking to tap a surge in orders spurred by countries in Southeast Asia looking to develop domestic marginal oilfields which were once considered commercially unattractive.

“There is still some more room for growth,” Rohaizad said in Kuala Lumpur. “We would only buy if a great opportunity presents itself.”

The stock advanced 1.5 percent to a two-week high as of 9:20 a.m. in Kuala Lumpur. It has risen for a fourth day, poised for the longest rally since Feb. 10. It has surged 45 percent since its IPO in November, compared with a 3.4 percent gain for the FTSE Bursa Malaysia KLCI Index in the same period.

The company is bidding for 20 potential contracts and expects some tender results to be known within a month, Rohaizad said. Charter rates in Southeast Asia are expected to reach $180,000 per day for short-term contracts compared with average rates of $150,000 because of rising demand, he said.

Potential Growth

The company expects Vietnam and Myanmar to be potential growth areas in the region, Rohaizad said.

“We have established warm ties with PetroVietnam based on our past and current work,” he said, referring to Vietnam Oil & Gas Group. “Myanmar has been aggressive in the oil and gas sector, where the country has issued about 20 new licenses. This would entail more exploration and development activities which would be utilizing jack-up rigs.”

The company will add 100 more employees this year to support the new rigs, compared with as many as 30 in 2013, he said. It has 60 percent of the IPO proceeds left to be used for more rig purchases, Rohaizad said. Each rig can boost revenue by at least $57 million a year, he said on Nov. 1.

The jack-up rig business is a “straight-forward business, and we can easily double our bottom line based on the additional four rigs,” he said. “Revenue for 2015 could be an increase of more than 50 percent, in line with estimates.”

Revenue is expected to rise 47 percent to 1.47 billion ringgit in 2015, from an estimated 997.8 million ringgit this year, according to 12 analysts surveyed by Bloomberg.

“We quite like the company because we think that it’s fairly stable,” Thomas Yong, chief executive officer of Fortress Capital Asset Management, which manages 1 billion ringgit of assets, said in a phone interview in Kuala Lumpur on April 21. He owns shares in the company.

UMW Oil & Gas was spun off by UMW Holdings Bhd., controlled by Permodalan Nasional Bhd., Malaysia’s biggest state-owned asset manager. The parent company, UMW Holdings, assembles cars for Toyota Motor Corp. in Malaysia and manufactures industrial equipment.

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Posted by on in Business

Asia Motor Works eyeing exports to de-risk business

With the domestic trucking industry on a slow lane, Kutch-based heavy commercial vehicle maker (AMW) is now turning its focus towards exports markets.

Having cracked six international markets in around a year’s time, the company is now looking at newer markets in West Asia and Africa.

“We have very recently appointed a partner in Indonesia, and just opened Kenya,Tanzania and Bangladesh. We are looking at expanding our presence in more Middle Eastern and African countries during this year. As for South Asia, we are already present in Myanmar, Vietnam and Malaysia. We would be looking at Sri Lanka too in the near future,” said Anirudh Bhuwalka, managing director and CEO of AMW adding that it is actively looking at exports markets in order to mitigate the risks in the domestic market which is going through a slowdown.

The company, which enjoys a four per cent market share nationally, has sold around 5,000 trucks last year.

“The overall industry has dropped by 25 per cent and we are in line with that. The industry volumes have come down. However, the truck cycle has bottomed out, and the second half of this fiscal should see some revival in demand. A lot depends on the outcome of the elections,” Bhuwalka explained. As of now, exports contribute to around five per cent of its total sales.

On another hand, Bhuwalka is also expecting to clock a significant growth in the auto component business as well, which has been clocking a compounded annual growth rate of 20-25 per cent on the export front.

AMW had de-merged the auto component business into a separate entity last year for better management and attracting investments. Following a nod from the Gujarat High Court in end 2012, AMW had demerged into AMW Motors Ltd (AMWML) and AMW Ltd (AACL). AMW manufactures wheel rims for cars, trucks, tractors and several other vehicle categories. AMW’s wheel rim plant has an installed capacity of 15 million wheel rims per year for a range of automobiles.

“We had sold around 1.8 million wheel rims last year, and this year we are looking at doubling it. Exports constitute nearly 25 per cent of the overall sales in the component business,” Bhuwalka said. He is upbeat on exports of autocomponents as he feels the weakening rupee has given an advantage to Indian players vis-a-vis the Chinese competition.

“While the rupee has weakened vis-a-vis the dollar, the Chinese yuan has strengthened. This helps us to crack new markets. We are already exporting to countries in Europe, Latin America and the US,” he said.

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Posted by on in Business

Expansion of JCDecaux’s Executive Board

Emmanuel Bastide and Daniel Hofer appointed to the Executive Board of JCDecaux

Regulatory News:

JCDecaux SA (Paris:DEC), the number one outdoor advertising company worldwide, has announced the appointment to its Executive Board of Emmanuel Bastide, in his capacity of CEO for Asia, and Daniel Hofer, who will join JCDecaux on 1 September 2014 as CEO for Germany, Austria, Central and Eastern Europe and Central Asia. Both appointments will take effect on 1 September 2014.

Emmanuel Bastide (45) is a graduate of the Ecole des Mines de Paris (ENSMP). He began his career as a Civil Engineer at Saur in 1994, before joining JCDecaux in 1998 as Deputy Regional Director for the Greater Paris Eastern area. In 1999, he was named Head of Development for Northern Asia excluding Japan, a position based in Hong Kong. In 2001, he was promoted to Senior Vice-President of MCDecaux in Japan (a joint venture between JCDecaux SA and Mitsubishi Corporation), and was subsequently named President in 2002. On 1 January 2007, he was appointed CEO for Asia with overall responsibility for Japan, Korea, China, Hong Kong, Macao, India, Thailand, Singapore, Malaysia, Indonesia, Vietnam, the Philippines, Mongolia and Myanmar.

Daniel Hofer (50) holds an MBA from the University of Rochester (New York) and a Doctorate in Business Administration from the University of South Australia (UniSA) in Adelaide. Daniel Hofer held various senior management functions in the media marketing industry before joining NZZ Group (Neue Zuercher Zeitung), a leading Swiss media company, serving as a member of the Executive Board between 2006 and 2010. Since 2010, he has been CEO of APG|SGA, the outdoor advertising market leader in Switzerland. From 1 September, as CEO for Germany, Austria, Central and Eastern Europe and Central Asia, Daniel Hofer will assume overall responsibility for activities in the following countries: Germany, Turkey, Austria, Czech Republic, Slovakia, Croatia, Slovenia, Hungary, Bulgaria, Poland, Ukraine, Kazakhstan, Uzbekistan and Azerbaijan.

Following a recommendation by the Remuneration and Nomination Committee and the Supervisory Board’s decision of 22 April 2014, Emmanuel Bastide and Daniel Hofer will join JCDecaux's Executive Board from 1 September 2014.

Jean-François Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, and Jean-Charles Decaux, Co-CEO of JCDecaux, said: "We are delighted that Emmanuel Bastide and Daniel Hofer are joining our Executive Board. With his in-depth knowledge of the Group and his success in overseeing JCDecaux's development in Asia for 15 years, Emmanuel Bastide will bring, among other things, his vision of the media industry in fast-growing markets. Daniel Hofer, who successfully turned around APG|SGA in Switzerland under the Chairmanship of Jean-François Decaux, will bring 25 years of experience in the media and advertising industry in Switzerland as well as on an international level. Their experience, professionalism and dynamism are attributes that will contribute to the growth of our activities around the world."

Key Figures for the Group

2013 revenues: €2,676m JCDecaux is listed on the Eurolist of Euronext Paris and is part of the Euronext 100 index No.1 worldwide in street furniture (480,400 advertising panels) No.1 worldwide in transport advertising with more than 145 airports and more than 276 contracts in metros, buses, trains and tramways (379,000 advertising panels) No.1 in Europe for billboards (191,000 advertising panels) No.1 in outdoor advertising in the Asia-Pacific region (211,400 advertising panels) No.1 in outdoor advertising in Latin America (30,000 advertising panels) No.1 worldwide for self-service bicycle hire 1,082,400 advertising panels in more than 60 countries Present in 3,700 cities with more than 10,000 inhabitants 12,000 employees

JCDecaux SA
Communications Department:
Agathe Albertini, +33 (0) 1 30 79 34 99
This email address is being protected from spambots. You need JavaScript enabled to view it.
or
Investor Relations:
Nicolas Buron, +33 (0) 1 30 79 79 93
This email address is being protected from spambots. You need JavaScript enabled to view it.

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Rocket Internet’s Carmudi, A Car Classifieds Site, Grabs $10M In New Funding To Expand In Asia

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Carmudi, a car classified ads site backed by Rocket Internet, has raised $10 million to expand its operations in Asia. Investors include Tengelmann Ventures, the investment arm of the German retail giant. The site’s network currently operates in eleven countries, six of which are in Asia (Bangladesh, Indonesia, Myanmar, Pakistan, the Philippines, and Vietnam).

Carmudi, which launched last year, claims that the number of its listings is growing 200% a month and will soon reach a total of 100,000 around the world.

In Asia, Carmudi competes with local operators as well as Malaysia-based iCar Asia, which is backed by Australian sites Carsales.com. iCar Asia is currently the largest network of car classifieds sites in Southeast Asia, though its rapid expansion has come at a cost. BRW reported that in the fiscal year ending June 30, the company lost $2.78 million, far above its revenue of $551,00. Its CEO Damon Reilly said, however, that iCar Asia’s current focus is rapid expansion.

That is similar to Rocket Internet’s business strategy of launching in emerging markets, especially those with high mobile penetration, and growing as rapidly as possible with support from major investors like Tengelmann. This has the added benefit of allowing Rocket Internet’s portfolio companies, which include Easy Taxi and fashion retailer Zalora, to lay down groundwork for a logistics network that benefits all of the Berlin-based incubator’s properties.

In a statement, Carmudi co-founder and global managing director Stefan Haubold said, “The funding will help us drive our growth even further, enabling us to become the number one online vehicle marketplace in Asia. Eventually, I envision Carmudi to be a one-stop shop for all car-related topics, be it car reviews, news, tips or simple advice.”

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Thailand’s SCCC to beef up overseas expansion

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Thailand's second biggest cement producer, Siam City Cement (SCCC), intends to set up a factory in Myanmar and perhaps invest in Cambodia as well.

The company hopes that overseas expansion will offset the slow cement demand in the Thai market, which is expected to rise by 2%-3% only in 2014 following the ongoing political crisis.

In 2013, SCCC's local cement business expanded by 7%, whereas its other new businesses, including the waste managing unit Geocycle and wood replacement building materials unit Coonwood, recorded a combined growth of over 20%.

For 2014, SCCC will invest THB 100 million (€2.23 million) to expand Conwood's product range to tap on the growing demand.

By mid-2015, the fourth production line at Conwood's factory in Saraburi is due to come online.

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Wednesday, April 23, 2014
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