PETALING JAYA, 22 MAY 2013 – Today, Crest Builder Holdings Berhad (‘CBHB’ or ‘the Group’) announced its financial results for the first quarter of its financial year ended 31 December 2013 (‘Q1FY2013’) with a revenue of RM107.2 million. The Group reported a profit before tax (‘PBT’) of RM9.0 million – an increase of 44.4% compared to its preceding year quarter of RM6.2 million. The Group’s profit after tax (‘PAT’) recorded an increase of 39.5% with RM6.3 million, compared to its preceding year quarter of RM4.5 million; this translates to earnings per share of 4.7 sen.

Under CBHB’s segmental performance for Q1FY2013, its construction division makes up 92% of its total revenue for the quarter with a revenue of RM99.0 million, which is mainly due to the Unitapah project that has been recognised for the quarter under review. The Group’s construction division reported a PBT of RM7.3 million representing an increase of 45% compared to its corresponding first quarter last year.

The property development division recorded a revenue of RM5.9 million and a PBT of RM1.6 million, a comparative decrease from the results of its corresponding quarter last year of RM12.2.million and RM2.8 million respectively. This decrease in profit is due mainly to cost required for the completion of one of the Group’s property development projects, Alam Idaman, serviced apartments towards the end of the previous financial year.

With regards to its property investment, the division reported a revenue of RM2.3 million and a PBT of RM0.1 million. The Group’s Tierra Crest development office towers will physically be occupied in September 2013 with UNITAR’s scheduled student intake.

In the pipeline for 2013 is the Group’s RM1.04 billion Dang Wangi project which aims to kick-off its physical works during the second half of FY2013. “We have officially signed the Joint Land Development Agreement with Prasarana for this mixed development project. So with final administration underway everything should be in order and set to go within the next few months” commented Eric Yong, Executive Director of Crest Builder Holdings Berhad.

“The management is confident that the Group will continue to deliver healthy financial performances for FY2013, with our various projects advancing along smoothly.. We are actively bidding for projects from various opportunities available to the Group with an estimated tender book of RM6.0 billion,” he added.

SUNG DONG, SOUTH KOREA, 29 APRIL 2013 - YINSON HOLDINGS BERHAD (“Yinson”, the “Company” or “云升控股有限公司”), Malaysia’s premier integrated offshore services provider had its official Naming Ceremony for its Floating Storage and Off-Loading Vessel (“FSO”) this morning at Sung Dong Shipyard, South Korea, where the vessel was built. Yinson’s 49% equity owned FSO vessel, now officially named “PTSC Bien Dong 01” will set sail on the 04 May 2013 to Vietnam waters, where the oil field that PTSC Bien Dong 01 has been assigned for is located.

The Naming Ceremony was attended by the CEO of PetroVietnam and PetroVietnam Technical Services Corporation (“PTSC”) with speeches delivered hearing the CEO of PTSC expressing thanks to all involved. “Sincere thanks to all parties involved, including lenders UOB and OCBC, Singapore and the project management team of Sung Dong Shipyard”

PTSC Bien Dong 01 baring a total construction cost of USD150 million was fully completed and launched ahead of its schedule last year in September 2012.

PTSC Bien Dong 01 is to facilitate the bareboat charter contract worth USD331 million (approx. RM1.03 billion) that was secured by the Company in May 2011 for a firm period of ten (10) years, with the option to extend for another (5+2+2+1) years. The contract is a joint-venture (“JV”) partnership between Yinson and PTSC forming the operating subsidiary PTSC South East Asia PTE Ltd. PTSC South East Asia (Yinson 49% and PTSC 51%) will charter the FSO vessel onwards to Bien Dong Petroleum Operating Company with its first condensation date scheduled for June 2013.

Commenting on the occasion, Mr. Lim Han Weng (“林汉荣”), Managing Director of Yinson said: “Today’s naming ceremony is an event highlight for Yinson, as it effectively stamps a mark for the Company’s first FSO vessel. It is also a fulfilling moment of evidence that we have achieved our next level of success since we first started structuring our business transformation.”

Further to KNM’s announcement yesterday(23 April 2013) whereby KNM had filed an injunction against Mission Biofuel - The Group would like to inform that today the Court has granted an interim injunction to restrain Mission Biofuel from proceeding further with the petition upon hearing of KNM Process Systems Sdn Bhd (“KNMPS”) ex-parte application earlier this morning.

The application will be heard inter-parteson 8 May 2013.

http://www.thesundaily.my/news/678170

PETALING JAYA (April 24, 2013): KNM Group Bhd's subsidiary KNM Process Systems Sdn Bhd (KNMPS) has filed an injunction to restrain Mission Biofuels Sdn Bhd – a subsidiary of Australia-based Mission NewEnergy Ltd – from proceeding further with a winding-up petition served to KNMPS and will be applying to strike out the petition as, among other things, an abuse of process.

In a statement yesterday, KNM said there is no impact to the group arising from the petition, which claims that KNMPS owes Mission Biofuels RM12.2 million together with interest. for not fulfilling its contractual obligations under an engineering, procurement, construction and commissioning (EPCC) contract dated July 25, 2007 with the project completed back in 2010.

"In regards to Mission Biofuels claiming that they have submitted invoices and letter of demand, they selectively failed to disclose that all invoices were rejected and the letter of demand had been denied by KNM's solicitors.

"Therefore, the petition served against KNMPS is nothing, but exasperating and retaliatory in nature," KNM said.

The petition is served following KNMPS previous filed proceedings against Mission Biofuels on Oct 25, 2012 and a winding-up petition based on insolvency served to Mission Biofuels on Nov 9, 2012.

KNMPS previously filed proceedings against Mission Biofuel for outstanding payment due to KNMPS totalling RM49.9 million, being the payments due and owing to KNMPS by Mission Biofuels for the works fully carried out under the EPCC contract.

The hearing in respect of the filed proceedings resulted with a court order that Mission Biofuels was to deposit a sum of A$4 million (RM12.51 million) pending resolutions of KNMPS's claim via arbitration.

Noting on various potential issues, KNMPS served a winding-up petition to Mission Biofuels, but the court had on March 12, 2013 dismissed KNMPS's petition. KNMPS has appealed to the Court of Appeal against this decision.

"KNM's legal advisers are of the opinion that Mission Biofuels action in filing the said petition is not only frivolous and vexatious, but is also tainted with malicious intent and a clear and blatant abuse of process."

Shares of KNM fell 2 sen or 4.21% at 45.5 sen, with 11.87 million shares traded.

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