NST Online Business Times : latest

Posted: 10 Apr 2013 07:15 PM PDT

Kenanga Research raised its target price for UMW Holdings Bhd to RM12.53 per share from RM12.37 after the firm's oil and gas drilling unit won a US$157.68 million contract.

Kenanga said in a research note on Thursday that UMW's earnings for the financial years 2013 through 2015 are likely to be higher by 1.0-1.3 per cent due to the contract win.

UMW Standard Drilling Sdn Bhd won a three-year contract for the provision of a jack-up drilling rig from Petronas Carigali Sdn Bhd, a unit of Malaysia's national oil company Petroliam Nasional Bhd.

Shares in UMW Holdings were trading down 0.15 per cent at RM13.36 while the benchmark index was up 0.31 per cent at 1,701.46.-- Reuters

Ringgit opens lower against US dollar

Posted: 10 Apr 2013 07:19 PM PDT

The ringgit opened lower against the US dollar, in early trading Thursday, prompted by profit taking activities.

At 9.12am, the ringgit was quoted at 3.0340/0360 against 3.0285/0315 at 5pm on Wednesday.

A dealer said the local note was on an upward this week but gains
were capped as traders booked profits following the announcement of polling day yesterday.

"However, statistics show continued foreign demand in the domestic bond market, especially for Islamic sukuk government bonds," said a dealer.

Meanwhile, the local currency was traded mostly lower against other major currencies.

The ringgit weakened against the Singapore dollar to 2.4505/4539 from 2.4457/4483 on Wednesday and saw little change against the Japanese yen at 3.0459/0485 versus 3.0459/0492 yesterday.

The ringgit was also lower against the British pound at 4.6499/6542 from 4.6380/6438 yesterday and depreciated against the euro to 3.9600/9632 from 3.9645/9690 on Wednesday.-- Bernama

Kredit: www.nst.com.my

Rabu, 10 April 2013

NST Online Business Times : latest

NST Online Business Times : latest

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