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Khamis, 22 Disember 2011

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Muhibbah surges after winning Aussie jobs

Posted: 22 Dec 2011 06:17 PM PST

Muhibbah Engineering (M) Bhd, a Malaysian builder, gained the most in two months in Kuala Lumpur trading after its joint venture with Australia's Monadelphous Group Ltd won a A$330 million (US$334 million) contract to construct a coal jetty and ship berth in Queensland.

The stock surged 6.5 per cent to RM1.15 at 9:02 a.m. local time, set for its steepest increase since Oct 19. -- Bloomberg

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TSM Global falls on RM21m net loss

Posted: 22 Dec 2011 06:17 PM PST

TSM Global Bhd., a Malaysian automotive-parts manufacturer, dropped to the lowest level in a week in Kuala Lumpur trading after posting third-quarter net loss of RM21.1 million, compared with a RM8.1 million profit a year earlier.

The stock lost 1.8 per cent to RM1.10 at 9:06 a.m. local time, set for its lowest close since Dec 15. -- Bloomberg

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Rabu, 21 Disember 2011

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KFC climbs after accepting buyout offer

Posted: 21 Dec 2011 06:04 PM PST

KFC Holdings (Malaysia) Bhd climbed 1.3 per cent to RM3.79, set for its highest close since Dec 15. The fast-food restaurant operator's independent directors backed a buyout offer from CVC Capital Partners Ltd and Johor Corp, according to an exchange filing.

KFC's fair value was raised to RM4 ringgit from RM3.97 at OSK Holdings Bhd, its brokerage said in a report. -- Bloomberg

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Higher palm oil prices buoy plantation stocks

Posted: 21 Dec 2011 06:12 PM PST

Kretam Holdings Bhd advanced 4.2 per cent to RM2.50, set for its highest close since Dec 3, 1998. Rimbunan Sawit Bhd rose 2.3 per cent to 89 sen, and Sarawak Oil Palms Bhd climbed 1.5 per cent to RM5.48.

Palm oil futures gained 1.7 per cent to RM3,072 (US$970) a metric tonne in Malaysia yesterday, the steepest increase since Dec 5, on concern vegetable oil supplies will drop as production in Malaysia slows and dry weather threatens soyabean crops in Brazil and Argentina. -- Bloomberg

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Selasa, 20 Disember 2011

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Boustead Heavy surges on buyout news

Posted: 20 Dec 2011 05:14 PM PST

Boustead Heavy Industries Corp, a Malaysian shipbuilder, surged to the highest level in four months in Kuala Lumpur trading after the Star newspaper reported that it may be bought out by its parent Boustead Holdings Bhd.

The stock gained 3.8 percent to RM3.30 at 9:04 a.m. local time, set for its highest close since Aug. 17. -- Bloomberg

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Ingress at 18-month high after income triples

Posted: 20 Dec 2011 05:31 PM PST

Ingress Corp, a Malaysian auto-parts supplier, increased the most in 18 months in Kuala Lumpur trading after third-quarter net income tripled to RM6.7 million from a year earlier.

The stock surged 13 per cent to 80 sen at 9.15am local time, set for its largest gain since June 23, 2010. -- Bloomberg

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Isnin, 19 Disember 2011

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KAF-Seagroatt up on Singapore bank interest

Posted: 19 Dec 2011 05:34 PM PST

KAF-Seagroatt & Campbell Bhd, a Malaysian stock brokerage, rose to the highest level in more than a month in Kuala Lumpur trading after the Edge Financial Daily reported that a Singapore bank is keen on buying its stockbroking business.

The stock gained 3.8 percent to RM1.38 at 9:03 a.m. local time, set for its highest close since Nov. 9. -- Bloomberg

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Emery delays RM480m sukuk to Q2

Posted: 19 Dec 2011 06:27 PM PST

Malaysia's Emery Oleochemicals Group, a producer of plastic additives, delayed a plan to sell RM480 million (US$151 million) of Islamic bonds to the second quarter of next year because it has sufficient funds.

The company has "strengthened its financial resources" and is pushing back the bond sale to a time when "additional funds are required for its various long-term growth projects," Emery said in an e-mail today.

Chief Executive Officer Kongkrapan Intarajang said in June the company aimed to sell the notes, which pay returns on assets to comply with Islam's ban on interest, in the fourth quarter.

Emery, which is based in Shah Alam near Kuala Lumpur, is a joint venture between PTT Chemical International Private Ltd, a unit of PTT Chemical Pcl, and Sime Darby Plantation Sdn Bhd, owned by Malaysia's Sime Darby Bhd. -- Bloomberg

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Ahad, 18 Disember 2011

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Boustead Heavy gains on navy ship deal

Posted: 18 Dec 2011 05:12 PM PST

Boustead Heavy Industries Bhd, a Malaysian shipbuilding and engineering company, rose to a four- month high in Kuala Lumpur trading after its associate won a contract to build navy ships that could be worth as much as RM9 billion.

The stock gain 4.8 percent to RM3.30 at 9:05 a.m. local time, set for its highest close since Aug. 17.

Boustead Naval Shipyard Sdn Bhd received a contract from the Malaysian government to deliver six combat ships, the group said in a statement. -- Bloomberg

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Gamuda hits 2-week high on Q1 results

Posted: 18 Dec 2011 05:16 PM PST

Gamuda Bhd, a construction and property group, rose the most in almost two weeks in Kuala Lumpur trading after first-quarter net income grew 49 per cent to RM132.3 million.

The stock gained 2.3 per cent to RM3.07 ringgit at 9.03 a.m. local time, set for its steepest increase since Dec 7. -- Bloomberg

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Jumaat, 16 Disember 2011

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FBM KLCI expected to enter bull camp

Posted: 16 Dec 2011 07:09 PM PST

Bursa Malaysia is expected to trend higher next week on oversold situation, technical buying and year-end window-dressing, dealers said.

They said the other positive factors to support the local index were a stable euro, well-subscribed Spanish bond auction and a short-covering rally in the European stocks.

Affin Investment Bank head of retail research, Dr Nazri Khan, said all these factors would help push the key FTSE Bursa Malaysia KLCI (FBM KLCI) into the bull camp with resistance at 1,480 and then at 1500.

He said the fact that three major FBM KLCI averages -- 20-, 50- and 100-day -- were converging suggested that the short-term trend could reverse upwards soon.

"We expect buyers to step into the market to buy beaten-down local brands such as CIMB, AMMB, Tenaga and Bursa," he said.

Nazri said investors were keeping an eye on the prospects of trade spat between the world's two biggest economies after China imposed a tax on US-made car imports.

He said investors should continue to accumulate defensive stocks in telco and consumer sectors which were expected to do well near the year-end festive season.

For the week just-ended, the key FBM KLCI fell 6.09 points to 1,466.22 from 1,460.13 a week earlier, as European leaders and the US Fed failed to convince investors on their strategies to prevent the financial crisis from widening.

The Finance Index rose 217.7 points to 13,158.59, Plantation Index increased 3.42 points to 7,864.11 and the Industrial Index was 0.44 point lower at 2,649.52.

The FBM Emas Index added 54.94 points to 10,054.49 and the FBM Ace Index lost 41.2 points to 4,133.25.

Weekly volume decreased to 8.274 billion shares worth RM6.181 from 9.596 billion shares worth RM6.641 billion last Friday.

The Main Market turnover declined to 3.881 billion units valued at 5.384 billion from 5.726 billion units valued at RM6.016 billion previously.

Warrants rose to 2.358 billion shares worth RM443.937 million from 1.603 billion shares worth RM306.100 million last week.

Volume on the ACE Market fell to 1.980 billion units valued at RM340.510 from 2.255 billion units valued at RM314.099 million last Friday. -- Bernama

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Ringgit seen strengthening next week

Posted: 16 Dec 2011 07:11 PM PST

The ringgit is expected to see positive trading against the US dollar next week due to the increase in investor appetite for emerging currencies, dealers said.

A dealer said the local unit was expected to move between 3.12 and 3.13 against the greenback.

However, he said, the investors were still cautious amid the brittle global economic outlook and hoped the European leaders could come out with solid pact to avoid double-dip recession.

For the week just-ended, the ringgit suffered four straight days of losses against the US dollar. It, however, bounced back on Friday.

On a Friday-to-Friday basis, it fell against the dollar at 3.1770/1790 compared with 3.1470/1510 last week.

It weakened against the Singapore dollar to 2.4360/4394 from 2.4193/4242 previously and fell against the yen to 4.0767/0809 from 4.0486/0559 last week.

Against the British pound, the ringgit was lower at 4.9320/9360 from 4.9172/9244 previously but strengthened against the euro to 4.1377/1419 from 4.1975/1034 last week. -- Bernama

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Khamis, 15 Disember 2011

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Court dismisses ex-Sime CEO's counter-suit

Posted: 15 Dec 2011 05:09 PM PST

Former Sime Darby Bhd Chief Executive Officer Ahmad Zubir Murshid's counter-suit against current and previous senior management of the palm oil and engineering group was dismissed by High Court, according to an exchange filing late yesterday.

Sime Darby filed civil suits against Ahmad Zubir in December 2010 and others following cost overruns on engineering projects in Qatar and Malaysia.

In March, he filed a counter- suit against current and former management including Chairman Musa Hitam seeking indemnity if found liable, which the court this week dismissed as "frivilous and vexatious," the exchange filing said.

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UMW Hlgs slides to 3-year low

Posted: 15 Dec 2011 05:24 PM PST

UMW Holdings Bhd, a Malaysian automotive assembler, declined the most in three years in Kuala Lumpur trading after denying a Business Times report that it was in discussions to buy a stake in national carmaker Proton Holdings Bhd.

The stock slid 4.7 percent to RM6.52 at 9:11 a.m. local time, set for the largest drop since Dec. 2, 2008. -- Bloomberg

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