NST Online Business Times : latest
NST Online Business Times : latest |
| Malaysia Marine upgraded to 'reduce' Posted: 01 Oct 2012 07:05 PM PDT Affin Investment Bank upgraded Malaysia Marine and Heavy Engineering Holdings Bhd to "reduce" from "sell" and raised its target price to RM4.60 per share from RM4.02, on optimism about the oil and gas service firm's future contract flow. "Taken together the 13 percent fall in share price year to date, we think that further downside is limited," the research house said in a note on Tuesday. Affin raised Malaysia Marine's FY2012-FY2013 contract win assumptions to RM3 billion-RM4 billion (US$980.23 million-US$1.31 billion) from RM2-3 billion previously. The brokerage also lifted its FY2013-FY2014 earnings per share forecast by 13-14 percent. -- Reuters |
| Posted: 01 Oct 2012 07:03 PM PDT Share prices on Bursa Malaysia extended their gains this morning supported by continuous buying interest from a majority of local participants. After 15 minutes of trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) earned 5.03 points higher to 1,648.34 after opening 2.36 points better at 1,645.67. HwangDBS Vickers Research, in a note today, said after chalking up cumulative gains of 30.9-point or 1.9 per cent over five straight days, the key FBM KLCI may pull back slightly in the near-term. "The immediate support and resistance levels for the benchmark index are currently seen at 1,635 and 1,655, respectively," it added. The Finance Index surged 66.42 points to 14,660.24, the Plantation Index fell 4.99 points to 8,273.63 and the Industrial Index shed 0.15 of a point to 2,818.61. The FBM Emas Index advanced 30.91 points to 11,180.80, the FBM Mid 70 Index gained 25.80 points to 12,001.52 and the FBM Ace earned 3.32 points to 4,299.68. Gainers led losers 103 to 63, with 138 counters unchanged, 1,327 untraded and 20 others were suspended. Turnover stood at 56.701 million shares worth RM38.751 million. Among the actives, Sumatec Resources rose 2.5 sen to 22.5 sen, Scomi Group and Ingenuity Solutions-Warrant increased half-a-sen each to 39.5 sen and seven sen, respectively. Among the heavyweights, Maybank added seven sen to RM9.13, Sime Darby fell one sen to RM9.79, CIMB earned six sen to RM7.62 and Axiata added two RM6.55.-- BERNAMA |
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