Business Times : latesthttp://www.btimes.com.my enTuesday, August 16, 2011, 11.20 AMParkson said planning IPO of retail opshttp://www.btimes.com.my/articles/20110816092811/Article/ http://www.btimes.com.my/articles/20110816092811/Article/Tue, 16 Aug 2011 09:28:12 +0800Parkson Holdings Bhd is planning an initial public offering of its retail operations in Malaysia, Indonesia and Vietnam, said a person with knowledge of the matter. The sale of the business, called Parkson Retail Asia Pte Ltd, may raise S$300 million (US$250 million) to S$500 million in Singapore, said the person, who declined to be identified because the deal hasn't been made public. Parkson Holdings picked HSBC Holdings Plc to manage the IPO, the person said. Kuala Lumpur-based Parkson Holdings operates 36 department stores in Malaysia and seven in Vietnam, according to its website. The company incorporated Parkson Retail Asia in Singapore in March. In June, it completed the purchase of Indonesia's PT Tozy Sentosa, which owns the country's Centro department stores, for US$12.8 million. Alfred Cheng, Parkson Retail Group's managing director, didn't immediately return a phone call and an e-mail seeking comment on the IPO. Malaysian newspaper the Sun Daily reported on the Parkson Retail Asia listing earlier today. Parkson Holdings shares rose 2 per cent to RM5.56 at 10:30 a.m. local time, outperforming 0.6 per cent gain in benchmark FTSE Bursa Malaysia KLCI Index. -- Bloomberg MAS fair value raised, stock climbshttp://www.btimes.com.my/articles/20110816104416/Article/ http://www.btimes.com.my/articles/20110816104416/Article/Tue, 16 Aug 2011 10:44:16 +0800Malaysian Airline System Bhd, the national carrier, rose to a five-month high in Kuala Lumpur trading after RHB Research Institute Sdn Bhd increased its "fair value" to RM1.98.
The stock climbed 1.1 per cent to RM1.92 at 9:44 a.m. local time, set for its highest close since Feb. 25. -- Bloomberg
Genting spends RM108m on share buybackhttp://www.btimes.com.my/articles/20110816090616/Article/ http://www.btimes.com.my/articles/20110816090616/Article/Tue, 16 Aug 2011 09:06:16 +0800Genting Bhd, a Malaysian casino and power group, spent RM108.4 million buying back its own shares, according to a company statement yesterday.
Genting bought 10.5 million of its own shares from Aug. 5 to Aug. 10 at prices between RM9.77 and RM10.60, it said. -- Bloomberg JCY Intl ugpraded, stock climbshttp://www.btimes.com.my/articles/20110816092913/Article/ http://www.btimes.com.my/articles/20110816092913/Article/Tue, 16 Aug 2011 09:29:13 +0800JCY International Holdings Bhd, a Malaysian disk-drive components supplier, rose the most in four months in Kuala Lumpur trading after CIMB Investment Bank Bhd upgraded the stock to "trading buy."
Its shares climbed 5.6 per cent to 47 sen at 9:23 a.m. local time, set for their biggest increase since April 7. -- Bloomberg Wing Tai climbs on tripling Q4 profithttp://www.btimes.com.my/articles/20110816090744/Article/ http://www.btimes.com.my/articles/20110816090744/Article/Tue, 16 Aug 2011 09:07:44 +0800Wing Tai Malaysia Bhd, a property developer, rose the most in more than eight months in Kuala Lumpur trading after almost tripling its fourth-quarter profit.
The stock climbed 5.3 per cent to RM1.80 at 9:02 a.m. local time, set for its highest close since Nov. 1, 2010. -- Bloomberg
Hovid jumps on share distribution planhttp://www.btimes.com.my/articles/20110816091213/Article/ http://www.btimes.com.my/articles/20110816091213/Article/Tue, 16 Aug 2011 09:12:13 +0800Hovid Bhd, a Malaysian herbal pharmaceutical products maker, rose the most in seven months after it proposed to give shareholders 25 shares in Carotech Bhd for every 100 Hovid shares held.
Hovid jumped 15 per cent to 23 sen at at 9:02 a.m. local time in Kuala Lumpur, set for its biggest gain since Jan. 11. -- Bloomberg
Fima rises on 17pc earnings increasehttp://www.btimes.com.my/articles/20110816091406/Article/ http://www.btimes.com.my/articles/20110816091406/Article/Tue, 16 Aug 2011 09:14:06 +0800Fima Corp, a Malaysian property group, rose the most in more than three months in Kuala Lumpur trading after reporting a 17 per cent increase in quarterly earnings.
The stock climbed 3.8 per cent to RM5.78 at 9:10 a.m. local time, set for its biggest gain since April 29. -- Bloomberg
Ringgit firmer against US dollarhttp://www.btimes.com.my/articles/20110816104050/Article/ http://www.btimes.com.my/articles/20110816104050/Article/Tue, 16 Aug 2011 10:48:25 +0800KUALA LUMPUR: The ringgit was firmer against the US dollar in early trade today as gains on major global markets bolstered investors' appetite for riskier assets, dealers said. The ringgit and Singapore dollar were among the major gainers among emerging Asian currencies vis-a-vis the US dollar. The ringgit rose against the US dollar to 2.9700/9720 from 2.9785/9819 yesterday. The local currency was lower against the Singapore dollar at 2.4696/4734 from 2.4677/4728 but gained against the yen to 3.8652/8688 from 3.8762/8822. The ringgit was higher against the British pound at 4.8592/8634 from 4.8597/8659 but lower against the euro at 4.2866/2910 from 4.2655/2707. - Bernama KL shares up on persistent buyinghttp://www.btimes.com.my/articles/20110816101312/Article/ http://www.btimes.com.my/articles/20110816101312/Article/Tue, 16 Aug 2011 10:13:12 +0800KUALA LUMPUR: Share prices on Bursa Malaysia were higher in early trading today, boosted by persistent buying in selected blue chips, dealers said.
At 9.20am, the FBM KLCI was 8.35 points or 0.5 per cent higher at 1,508.09 after opening 4.4 points higher at 1,504.14.
HwangDBS Vickers Research said the market was riding on a positive external backdrop as Wall Street was up for the third day in a row last night.
"We reckon our Malaysian bourse, which is in a recovery phase from an oversold position, would extend its technical rebound today," it said in a research note.
On the chart, HwangDBS said, the benchmark FBM KLCI could pull away from 1,495 to climb towards the next resistance hurdle of 1,530.
Bursa Malaysia's Finance Index rose 70.88 points to 14,301.05, the Plantation Index gained 70.44 points to 7,377.62 and the Industrial Index added 13.17 points to 2,750.88.
The FBM Emas Index rose 67.02 points to 10,342.81, the FBM Mid 70 Index advanced 101.46 points to 11,347.69 and the FBM Ace Index increased 49.22 points to 3,864.06.
Gainers outpaced losers 324 to 42 while 126 other counters were unchanged.
A total of 167.92 million shares worth RM119.55 million were traded.
Among active stocks, DVM Technology gained two sen to 17 sen, Hap Seng Cons-Warrants earned eight sen to 39 sen and Flonic Hi-Tech rose one sen to 13 sen.
For heavyweights, Maybank added six sen to RM8.66, CIMB added five sen to RM8.20 and Sime Darby rose one sen to RM8.86.- Bernama US stocks climb on M&A dealshttp://www.btimes.com.my/articles/20110816075552/Article/ http://www.btimes.com.my/articles/20110816075552/Article/Tue, 16 Aug 2011 07:55:53 +0800NEW YORK: US stocks rallied on Monday, erasing last week's losses, after a raft of big merger and acquisition announcements spurred buying momentum.
The Dow Jones Industrial Average leaped 213.88 points (1.90 per cent) to finish at 11,482.90.
The broader SandP 500 was up 25.68 points (2.18 per cent) at 1,204.49, and the tech-rich Nasdaq Composite gained 47.22 points (1.88 per cent) to 2,555.20.
After a roller-coaster week dominated by US and European public debt problems, Wall Street bulls were ready to take the markets higher.
"It is too soon to say that a bottom is in place, but the market is obviously showing encouraging signs that the worst of the selling is behind us," said Scott Marcouiller at Wells Fargo Advisors.
Stocks piled up gains "as investors seek bargains following three weeks of losses," he added.
It was the third winning session for Wall Street, returning the indices to above the levels they held on August 5 just before Standard and Poor's downgraded the US credit rating, sending global markets into a tailspin.
"The market should continue to be fairly volatile but certainly the trend is looking more promising than it did in the last couple of weeks," said Andrew Fitzpatrick, at Hinsdale Associates.
Investors brushed off a dismal manufacturing report from the Federal Reserve Bank of New York. Its manufacturing index reading for New York state slumped 3.8 points in August from July, to negative 7.7, the third straight month in negative territory.
"A plethora of MandA news is helping overshadow an unexpected drop in a read on manufacturing activity in New York," Charles Schwab analysts said.
Internet giant Google unveiled its largest acquisition to date, announcing a deal to buy US handset maker Motorola Mobility for US$12.5 billion.
Google will pay US$40.00 per share in cash, a 63 per cent premium over its closing price Friday. Google fell 1.10 per cent to US$557.55; MM skyrocketed 55.8 per cent to US$38.12.
Bank of America said it would sell its US$8.6 billion credit card portfolio in Canada to TD Bank Group and would exit its credit card businesses in Britain and Ireland. BofA soared 7.9 per cent to US$7.76.
Pfizer leaped 2.7 per cent to US$18.34 after it won a patent-infringement case in a US court against Israeli rival Teva Pharmaceuticals.
The court ruling prevents Teva from making a generic form of Viagra until October 2019.
Boeing added 1.5 per cent at US$62.70 after announcing a firm order for five 777-300 Extended Range aircraft from Air Lease Corporation. -- AFP Qantas to expand fleet with A320http://www.btimes.com.my/articles/20110816110134/Article/ http://www.btimes.com.my/articles/20110816110134/Article/Tue, 16 Aug 2011 11:01:34 +0800KUALA LUMPUR: Qantas has selected for the first time the Airbus A320 aircraft to launch its new premium airline to service routes
to/from Australia and the Asian region, while its unit Jetstar, has selected the Airbus A320 to continue its growth in Australia and Asia.
The commitment to order a minimum of 106 A320 Family aircraft includes 78 A320neo jets, making Qantas the latest airline to select the world's best selling single-aisle aircraft.
"We are delighted to be investing in Airbus' fuel efficient A320 Family,including the new A320neo as part of Qantas' international transformation plan and Jetstar's pan-Asian expansion," Qantas Chief Executive Officer Alan Joyce said in a statement issued by Airbus today.
"The A320 Family's outstanding operational efficiency and comfort, paired with its environmental credentials, make it the right choice for Qantas."
The A320neo is a new engine option for the A320 Family to enter service in 2015. It incorporates latest generation engines and large "Sharklet" wing tip devices, which together will deliver 15 percent in fuel and CO2 emission savings.
In parallel with this new order, Qantas has decided to adapt deliveries of the last six of its twenty A380s to the airline's new business plan. This affects deliveries after 2013.
At present, Qantas'A380 fleet stands at ten, making the carrier the third largest A380 operator worldwide.
A320 Family orders to date already exceed 7,800, reaffirming its position as the world's best-selling single-aisle aircraft family.
To date over 4,700 have been delivered to over 330 customers and operators worldwide.
The A320neo has over 95 percent airframe commonality with the existing A320 models while offering up to 500 nautical miles (950 kilometres) more range or two tonnes more payload.
Airbus has received more than 1,200 A320neo orders and commitments since its launch just nine months ago, in December 2010. - Bernama
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