Wednesday, February 5, 2014

Brahim’s Holdings Bhd

2014 may see Datuk Ibrahim Ahmad Badawi, who holds an indirect 54.89% stake in Brahim’s Holdings Bhd, injecting more assets via privately held Dewina Holdings Sdn Bhd into the listed in-flight caterer-cum-restaurant operator.

The exercise could happen in the next few months from Feb 2014.

Datuk Ibrahim did not discount a separate listing for Desatera Sdn Bhd, a JV between Dewina and Koperasi Angkatan Tentera Malaysia Bhd, which has been awarded a contract to operate military cookhouses up till 2026.

Other ventures under Dewina, which might be potentially acquired by Brahim’s, were Dewina Food; a plant manufacturing meals in Jordan in a 50:50 JV with a Jordanian government agency, an upcoming plant in Saudi Arabia, and a plant with a farm, including an abattoir and facilities for value-added products, in Ningxia, China, in which Dewina has a 49% stake.

Early October 2013, KPF emerged as a substantial shareholder in Brahim’s with a 5.2% stake, while pilgrimage fund LTH, already a major shareholder with a 5.3% stake, acquired another 366,500 shares in early January 2014.

KPF has a 20% stake in MSM Malaysia Holdings Bhd, which operates a sugar duopoly in the peninsula together with Central Refinery Sdn Bhd, part of the Tradewinds group.

Brahim’s RM150mil sugar refinery near Kuching would be completed by the end of 2015. The company plans to initially provide 180,000 tonnes of refined sugar in Sabah and Sarawak, where annual demand has been estimated to be around 300,000 tonnes.

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