NST Online Business Times : latest

Posted: 07 Apr 2013 06:54 PM PDT

Affin Investment Bank cut its target price on Malaysia Marine and Heavy Engineering Holdings Bhd to RM3.50 from RM4.02, saying slower orders and tougher competition within the local market are likely to hurt the company.

Affin said in a report on Monday it expects the company to win contracts for up to RM3 billion in the next two years, lowering its forecast by RM500 million, on the back of a more cautious business outlook for the sector. The brokerage maintained its 'reduce' call on the company's shares.

The bulk of Malaysia Marine's new contracts this year are likely to come in the final quarter, when workflow is expected to finally improve, Affin said.

Shares of the company remained unchanged at RM4.15 as of 9.08am while the benchmark index was down 0.07 per cent.-- Reuters

KL shares open mised in early trading

Posted: 07 Apr 2013 06:44 PM PDT

Share prices on Bursa Malaysia were traded mixed in the early session Monday due to mild profit-taking in selected heavyweights and finance counters, dealers said.

After 11 minutes of trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,685.92, sliding 2.73 points. It opened 3.02 higher at 1,691.67.

Advancers led decliners by 125 to 75, with 123 counters unchanged, 1,291 untraded and 23 others suspended.

A dealer said the local stock market was in sync with the "sour" US stocks performance which slipped between 0.3 per cent and 0.7 per cent amid weak economic data.

Back home, the Plantation Index rose 17.32 points to 8,013.71, but the Finance Index fell 38.51 points to 15,867.16 and the Industrial Index shed 3.88 points to 2,881.53.

The FBM Emas Index eased 10.68 points to 11,557.65 and the FBMT100 lost 12.29 points to 11,383.36.

However, the FBM Mid 70 Index gained 11.48 points to 12,891.53 and the FBM Ace Index was 1.94 points higher at 4,030.23.

Turnover stood at 55.938 million shares worth RM45.862 million.

Among actives, both Ingenuity Consolidated and Frontken Corp were flat 10 sen and 7.5 sen, respectively, while Boon Koon Group added half-a-sen to 20 sen.

As for heavyweights, Maybank erased eight sen to RM9.62, Sime Darby shed five sen to RM9.23 and Petronas Chemicals slipped one sen to RM6.28.

Axiata Group was flat at RM6.65 while CIMB Group earned one sen to RM7.63.-- Bernama

Kredit: www.nst.com.my

Ahad, 7 April 2013

NST Online Business Times : latest

NST Online Business Times : latest

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