KLSE 

Dated 2012-01-27

  Malaysia retains sugar price, ups subsidy
The government has decided to maintain the current sugar price despite the hike in the commodity’s price in the world market, Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said today.Sugar is sold at RM2.30 a ki…..

  Boustead is a ‘Buy’, says HwangDBS
KUALA LUMPUR: HWANGDBS Vickers Research Sdn Bhd has recommended a ‘buy’ for Boustead Holdings Bhd due to its strong growth prospects, driven by all its core divisions. The research firm said it had raised its ex-bonus target price to RM6.60 after inc…..

Bursa queries Malaysian Bulk’s price jump
KUALA LUMPUR: Bursa Malaysia Securities Bhd today queried Malaysian Bulk Carriers Bhd over the recent sharp increase in the company’s share price and volume traded.The investment holding company, which is engaged in international shipping, closed 21 …..

Interest rates still ‘accommodative’: Zeti
Malaysian interest rates are still ‘accommodative,’ Zeti Akhtar Aziz, the country’s central bank governor, told reporters in Kuala Lumpur today.Malaysia will assess the degree of how accommodative rates are, she said. Malaysia’s central bank is due t…..

IJM awaiting MRT’s letter of award
IJM Corporation Bhd is still awaiting the Letter of Award (LOA) from MRT Corp for the Package V5 Project of the MRT project. In a filing to Bursa Malaysia, the company said it would make an announcement on the tender outcome upon receipt of the LOA …..

‘Neutral’ call on IJM, Ahmad Zaki, stocks jump
IJM Corp Bhd and Ahmad Zaki Resources Bhd’s shares rose after their units, IJM Construction Sdn Bhd and Ahmad Zaki Sdn Bhd, were awarded the viaduct construction contracts worth RM1.738 billion for the Sungai Buloh-Kajang Mass Rapid Transit line by M…..

Al-Hadharah chalks up profit of RM239m
KUALA LUMPUR: Al-Hadharah Boustead REIT (Al-Hadharah REIT) registered a record profit after tax of RM239 million in the last quarter of last year against RM32 million registered in the corresponding quarter in 2010. The significant jump in profit was…..

Kimlun unit buys land worth RM15.5m
KUALA LUMPUR: Kimlun Corp Bhd’s wholly owned subsidiary, SPC Industries Sdn Bhd has entered into a conditional sale and purchase agreement with CIMB Bank Bhd to acquire a piece of land worth RM15.5 million.In a filing to Bursa Malaysia today, Kimlun …..

Alam Maritim rises on Samsung Engr deal
Alam Maritim Resources Bhd, an oil and gas services provider, rose 4.6 percent to 79 sen in Kuala Lumpur trading at 9.30am, set for its steepest gain since Oct. 13. The company won a US$37 million contract from Samsung Engineering (Malaysia) Sdn Bhd …..

Four banks roped for SARA 1Malaysia
KUALA LUMPUR: The Malaysian Development Holdings Sdn Bhd, the special purpose vehicle for the newly-launched Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia), today signed an agreement with four local banks.Maybank, CIMB Bank, RHB Bank and Bank Simpanan…..

XL Axiata 2011 revenue up 7pc
PT XL Axiata posted a 2011 net income of 2.8 trillion rupiah while revenue rose 7 percent from a year earlier to 18.9 trillion rupiah, the Indonesian mobile-phone company said in an e-mailed statement today.The company had a net income of 2.89 trilli…..

Musteq Hydro redeems RM108m bond
RAM Rating Services Bhd announced today that Musteq Hydro Sdn Bhd fully redeemed and cancelled its outstanding RM108 million Al-Bai’Bithaman Ajil Fixed-Rate Serial Bonds (2002/2017) on Jan 26, 2012.RAM Ratings said the initial final maturity date is …..

Bintulu Port may develop Samalaju Port
KUALA LUMPUR: Bintulu Port Holdings Bhd announced that it is in advanced discussions with the Federal Government, Sarawak State Government and relevant authorities on the proposed development of Samalaju Port in Bintulu, Sarawak.The discussions are b…..

Kaspersky joins Samsung alliance
Kaspersky Lab, a leading developer of secure content and threat management solutions, has become a Golden Member of the Samsung Enterprise Alliance Programme. ‘The new global partnership is ushering in much closer cooperation between the companies an…..

KL shares close lower ahead of weekend
KUALA LUMPUR: Share prices on Bursa Malaysia closed lower today as investors reduced their holdings in selected finance countersahead of the weekend, analysts said.Losses were mostly seen in CIMB and Maybank which dragged the FTSE Bursa Malaysia KLCI…..

Ringgit eases against US dollar
KUALA LUMPUR: The ringgit eased against the US dollar at close today on lack of commercial buying, dealers said.The ringgit was quoted at 3.0415/0445 a US dollar compared with yesterday’s closing rate of 3.0400/0430. A dealer said the market was quie…..

US stocks slip on weak economic data
NEW YORK: US stocks erased early gains on solid earnings reports from Caterpillar and Netflix to end lower on Thursday, with some weak economic data and profit-taking seeming to drive the selling.The Dow Jones Industrial Average closed down 22.33 poi…..

IJM and AZRB still awaiting formal letters of award from MRT Corp
IJM Corp and Ahmad Zaki Resources Bhd (AZRB) said they are still awaiting the formal letters of award from Mass Rapid Transit Corp Sdn Bhd (MRT Corp) for MRT jobs worth RM1.74bil……

KLCI eases at midday
The FBM KLCI was lower at midday, Friday, slipping 2.12 points to 1,521.74……
  MAS, Qantas mulling JV
PETALING JAYA: Malaysia Airlines (MAS) and Australian carrier Qantas are mulling over a joint venture to set up a premium airline based in Kuala Lumpur, a move that could give a competitive boost to both airlines, industry sources said……

  MAHB sees growth in passenger traffic
PETALING JAYA: After a sterling 10% growth in passenger traffic last year, airport operator Malaysia Airports Holdings Bhd (MAHB) is optimistic of achieving 6% to 7% growth this year despite growing concerns of an economic slowdown……

AirAsia plans aircraft transfer to associates
PETALING JAYA: AirAsia Bhd plans to transfer some of its planes to its associates in Thailand and Indonesia after their planned initial public offering (IPO) in the respective countries……

Malaysia-India trade on course to hit RM45.6bil
KUALA LUMPUR: Bilateral trade between Malaysia and India has bright prospects to hit US$15bil (RM45.6bil) this year, Indian High Commissioner to Malaysia Vijay K. Gokhale said……

DRB-Hicom among top gainers
PETALING JAYA: DRB-Hicom Bhd’s share price rose 20 sen to close at RM2.50, making it among the top gainers on Bursa Malaysia……

Asian markets up on US accommodative stance
KUALA LUMPUR: Most key Asian markets advanced after the US Federal Reserve said interest rates would be kept at near-zero levels until late 2014……

KEuro unit gets nod to build RM7b Banting-Taiping highway
PETALING JAYA: Kumpulan Europlus Bhd’s (KEuro) 64.2%-owned subsidiary West Coast Expressway Sdn Bhd (WCE) has obtained the Government’s nod to build a 316km highway between Banting, Selangor and Taiping, Perak at an estimated cost of RM7.07bil……

Disclose info on time for the sake of all stakeholders
ARE timely disclosures being made? The developments at DBE Gurney Bhd and The Media Shoppe Bhd (TMS) bring to the fore again the tricky yet perennial issue of timely disclosures……

Box-Pak up on sale speculation
PETALING JAYA: Box-Pak (M) Bhd gained 19 sen, or 8.76%, to RM2.36 amidst market talk that it is still a viable candidate to be sold by its parent, Kian Joo Can Factory Bhd (KJCF)……

Lingui, Glenealy seek suspension
KUALA LUMPUR: Lingui Developments Bhd and its associate company Glenealy Plantations (Malaya) Bhd have requested for an extension in the trading suspension of their shares today for the whole trading day……

Temasek Formation merger approved
PETALING JAYA: The Securities Commission has approved the merger of Jotech Holdings Bhd, AIC Corp Bhd and AutoV Corp Bhd into Temasek Formation Bhd……

KNM unit ups stake in Energy Park
PETALING JAYA: KNM Group Bhd’s wholly-owned subsidiary KNM Project Services Ltd (KPSL) has raised its stake in Energy Park Investments Ltd to 80%, giving the group greater control over the completion of a 80MW waste-to-energy plant project awarded in…..

Theta unit, TMS team-up still preliminary
PETALING JAYA: Punters who caught wind of the teaming agreement between The Media Shoppe Bhd (TMS) and Konsortium Jaya Sdn Bhd (KJSB) may have stirred up an opportunistic storm with TMS’ share price last Thursday but the venture is still largely at a…..

Alam Maritim bags Samsung contract
KUALA LUMPUR: Alam Maritim (M) Sdn Bhd has won an engineering contract worth RM115mil from Samsung Engineering (M) Sdn Bhd in the Sabah Oil and Gas Terminal Project in Kimanis……

GDP growth seen at 3.8%
PETALING JAYA: CIMB Research has projected that Malaysia’s real gross domestic product (GDP) growth to slow down to 3.8% this year, as compared to an estimate of 5% in 2011……

Ratings on PJH debt reaffirmed by MARC
KUALA LUMPUR: The Malaysian Rating Corp Bhd (MARC) has affirmed its AAA (ID)/MARC-1 (ID) and AAA (IS) ratings on Putrajaya Holdings Sdn Bhd’s (PJH) RM8.97bil Islamic debt facilities and programmes……

IJM, AZRB win MRT jobs
KUALA LUMPUR: IJM Corp Bhd and Ahmad Zaki Resources Bhd (AZRB) have been awarded two significant construction packages to build part of the My Rapid Transit (MRT) Sungai Buloh-Kajang line totalling RM1.74bil……

Jerneh Asia to be delisted next week
KUALA LUMPUR: Jerneh Asia Bhd’s shares and all its warrants 2007/2012 will be delisted from the Bursa Malaysia by Jan 31……

QSR, KFCH set to call for EGM
KUALA LUMPUR: QSR Brands Bhd and KFC Holdings (M) Bhd (KFCH) are expected to call for an EGM, likely at end-March, to seek approval for the proposed privatisation of the companies by ultimate major shareholder Johor Corp (JCorp), sources said……

Nazir named CIMB Niaga president commissioner
PETALING JAYA: CIMB Group Holdings Bhd group chief executive Datuk Seri Nazir Razak has been appointed president commissioner of Indonesia’s CIMB Niaga, and Glenn Muhammad Surya Yusuf as vice-president commissioner……

SAS posts RM36mil software revenue
KUALA LUMPUR: Business analytics software and services player SAS Malaysia posted software revenue of over RM36mil last year, mainly driven by the 31.2% sales growth in the financial services industry……

Fed may buy more bonds
CHICAGO: The Federal Reserve has moved closer to embarking on a new round of its controversial money-pumping after the central bank and its chairman Ben Bernanke highlighted a grim outlook for the US economy……

Factory, design flaws caused A380 cracks
PARIS: Airbus has acknowledged a combination of manufacturing and design flaws as it confirmed the discovery of more examples of cracks inside the wings of A380 superjumbo jets, while insisting the world’s largest airliner is safe to fly……

IMF denies pressuring ECB
WASHINGTON: The International Monetary Fund (IMF) denied a report on Wednesday that it had pressured the European Central Bank (ECB) to write off some of the value of its Greek bonds to help finalise the Greek debt deal……

French consumer sentiment up
PARIS: French consumer confidence unexpectedly climbed from its lowest in almost three years, suggesting Europe’s second-largest economy may be stabilising amid predictions of a recession……

Britain to curb “backdoor” listings
LONDON: The Financial Services Authority has proposed stricter rules on reverse takeovers and opened the debate on whether to tighten requirements for premium listings, as part of a broader drive to improve investor protection.       …..

NEC to cut 10,000 jobs
TOKYO: Japanese electronics giant NEC said it would axe 10,000 jobs worldwide, as it announced losses for the past nine months had almost doubled……

S. Korea’s growth slowed in fourth quarter
SEOUL: South Korea’s economy grew 0.4% in October–December from the previous quarter, slowing from the third-quarter’s 0.8% rise as global conditions worsened, the central bank said……

Japan’s stricken nuclear operator set for US$13bil bailout
TOKYO: Japan is set to launch a US$13bil bailout of the owner of its stricken Fukushima nuclear power plant after the utility dropped resistance to a public fund injection, sources said, as the country debates the future of nuclear power……

ADB: Asia to power world economy this year
DAVOS: The global economic slowdown will affect Asia this year but the region will remain the economic powerhouse of the world, led by China, India and Indonesia, the head of the Asian Development Bank (ADB) said……

UK fines prominent hedge fund investor
LONDON: David Einhorn’s reputation as one of the hedge fund industry’s most respected investors took a bit of a hit when Britain’s financial regulator imposed a £7.2mil fine on him and his Greenlight Capital fund for alleged trading abuses……

US Senate probes HSBC
WASHINGTON: HSBC Holdings Plc is under investigation by a US Senate panel in a money-laundering inquiry, the latest step in a long-running US effort to halt shadowy money flows through global banks, according to people familiar with the situation and…..

IMF expects deflation risk to rise in some G-20 countries
WASHINGTON: Global growth is slowing rapidly and the possibility of ample economic slack means risks of “damaging deflation” are rising in some G20 member economies, the International Monetary Fund (IMF) said in a paper published on Wednesday.       …..

German consumer confidence rises
FRANKFURT: German consumer confidence is continuing to rise with households increasingly willing to spend in spite of the eurozone debt crisis, according to a poll……

Greek creditors can accept lower rate
ATHENS: Greece’s private creditors are willing to improve their “final offer” of a 4% interest rate on new Greek bonds in order to clinch a deal in time to avert a messy default, Greek media said without quoting any sources.       …..

Euro crisis fears ease
DAVOS: There is a palpable sense of hope at the annual Davos World Economic Forum that the eurozone is pulling back from the brink of catastrophe but business leaders are equally worried that Europe’s woes will hold back a global recovery……

EU needs bolder steps to boost economy
LONDON: British Prime Minister David Cameron urged Europe to be “bolder” to shake off its economic woes, saying it should explore free trade deals with the United States and Africa……