KLSE STOCK WATCH 

Dated 2010-12-29

  TM to probe alleged Alcatel kickbacks
Telekom Malaysia Bhd (TM) will investigate the alleged improper payments from Alcatel to its employees regarding bids for Celcom Malaysia’s 3G mobile services.In a filing to Bursa Malaysia, TM said: ‘We take these allegations seriously and we will ex…..

  Malaysia to probe Alcatel bribery charges
Anti-corruption authorities in Malaysia said today they will investigate US claims that French-based telecom equipment giant Alcatel-Lucent bribed officials to secure contracts.The Paris-based firm has been accused by US authorities to have bribed …..

JAKS swings back to the black
Steel-pipe maker, JAKS Resources Bhd, has returned to the black with a pre-tax profit of RM4.4 million for financial year ended Oct 31, 2010 compared to a pre-tax loss of RM2.4 million in 2009 financial year. In a filing to Bursa Malaysia today, JAKS…..

Real construction growth forecast at 4pc
Real construction growth for 2011 has been projected at four per cent, OSK Research said in its 2011 report.It re-rated valuations upwards for the construction sector fuelled by the possibility of an early general election, implementation of the prop…..

OSK ‘overweight’ on healthcare sector
More potential remains to be tapped for the healthcare sector moving forward, with the government and private sector recognising it as one of the economy’s key growth sectors, said OSK Research. ‘The healthcare sector grew steadily in 2010 after emer…..

Wilmar to submit joint bid for China sites
SINGAPORE: Wilmar International, the world’s largest listed palm oil firm, today it will submit a joint bid to buy the land use rights for six sites in China’s northern province of Liaoning.Wilmar will partner Kerry Properties and Shangri-la Asia, tw…..

V.S. Industry Q1 net profits triple
V.S. Industry Bhd (VSI), an integrated electronics manufacturing services provider, kicked off its new financial year on a strong note, with group net profits for the first-quarter ended October 31, 2010 (1Q11) more than tripling to RM13 million from…..

Tobacco industry volume may drop 8pc: OSK
OSK Research is projecting an eight per cent drop in tobacco industry volume which will result in tobacco manufacturers experiencing an earnings decline of between five per cent and ten per cent next year.The research house said its slightly higher n…..

Crescendo Q3 pre-tax profit rises to RM13.4m
Crescendo Corp Bhd announced a higher pre-tax profit of RM13.38 million for its third quarter ended Oct 31, 2010 compared with RM5.96 million in same period last year. The profit was achieved over a higher revenue of RM59.11 million against RM37.95 m…..

FBO sells Discovery’s stake for RM6.9m
Furqan Business Organisation Bhd (FBO) is disposing off 200,000 ordinary shares of RM1.00 each, representing 100 per cent of the total issued and paid up capital of Discover Orient Holidays Sdn Bhd (DOH) for RM6.9 million cash.In a filing to Bursa Ma…..

Century plans to raise RM21.4m from IPO
Century Software Holdings Bhd, a financial management software solutions provider, plans to raise RM21.4 million from its initial public offering (IPO).In a statement today, the company said RM6 million, or about 28 per cent, of the IPO proceeds woul…..

KUB to buy rest of KUB-Fujitsu
KUB Malaysia Bhd has proposed to acquire the remaining 30 per cent equity interest in KUB-Fujitsu Telecommunications (Malaysia) Sdn Bhd for RM1.5 million cash. ‘With the proposed acquisition, KUB Group will be able to focus and better manage its oper…..

Malaysia Smelting up on S’pore listing plan
Malaysia Smelting Corp, the world’s third-biggest tin producer rose to its highest level in more than a week in Kuala Lumpur trading after winning approval from shareholders to list the company’s stock in Singapore.The shares gained 0.7 per cent to R…..

Results: Kim Loong Q3 profit soars
Kim Loong Resources Bhd pre-tax profit for the third quarter ended October 31, 2010 rose to RM27.775 million from RM22.988 million in the same period of 2009.Yinson Holdings Bhd posted a pre-tax profit of RM4.081 million for the third quarter ended O…..

Cahya Mata issues RM400m securities
Cahya Mata Sarawak Bhd, a Malaysian builder, said it issued RM400 million of CMS Income Securities to refinance existing group borrowings and for working capital.The securities consist of RM400,000 of non-convertible redeemable preference shares and …..

GuocoLand says no plan to set up REIT
SINGAPORE: Singapore-listed developer GuocoLand, a firm linked to Malaysian billionaire Quek Leng Chan, said today it had no plans to set up a real estate investment trust (REIT), dismissing a report in the Business Times newspaper. GuocoLand…..

CIMB gains after revamping Thai unit
CIMB Group Holdings Bhd, Malaysia’s second-biggest banking group, climbed the most in two weeks in Kuala Lumpur trading after restructuring its Thai unit.The shares added 0.8 per cent to RM8.62 at 9:27 a.m. local time, set for their biggest gain sinc…..

BNM reviewing mega Islamic bank bids
Malaysia’s central bank said today it was still reviewing offers to set up mega Islamic banks, suggesting it could miss its target of awarding a licence this year as the industry struggles to create a well-capitalised sharia lender. Bank Negara …..

Sealink secures RM70m contracts
Sealink International Bhd has secured contracts for the sale of three offshore support vessels for RM70 million. The vessels are expected to be delivered within the first quarter of next year, the company said in a filing to Bursa Malaysia today. It …..
  JAKS surges, biggest gain since Sept 2
JAKS Resources Bhd, a Malaysian steel-pipe maker, climbed the most in more than three months after winning a RM201 million contract for the earthworks and piling works at a development project near Kuala Lumpur.The stock surged 4.2 per cent to 75 sen…..

  Illegal cigarette sales in Malaysia fall
Sales of illegal cigarettes in Malaysia fell in the three months to August to account for 36.7 per cent of total industry sales in the country after the government intensified raids on such sales, according to the Confederation of Malaysian Tobacco M…..

Ibraco to sell land in Kuching
Ibraco Bhd plans to dispose of 6.48 hectares of mixed zone land in Kuching, Sarawak to Wansa Realty Sdn Bhd for RM14.18 million cash. In a filing to Bursa Malaysia today, Ibraco said the demand for office and exhibition buildings was expected to be l…..

Seacera Tiles inks MoU with Mydin
Seacera Tiles Bhd today entered into a Memorandum of Understanding (MoU) with Mydin Mohamed Holdings Bhd (MMHB) in relation to a proposed building to be developed by Seacera in Selangor. In the MoU, MMHB has expressed interest to lease the building f…..

Nasim to launch Peugeot 308CC in Jan
Nasim Sdn Bhd, the official distributor of the Peugeot cars in Malaysia, will kick off 2011 with the launch of the much anticipated and award-winning 308cc on January 6.The two-door convertible will be the first of three new models to be launched by …..

Tambun Indah to acquire land in Penang
Tambun Indah Land Bhd, a leading property developer in Penang, is planning to acquire 3.2 hectares of land next year.Managing Director Ir Teh Kiak Seng said the group had identified 1.6 hectares on the mainland and another 1.6 hectares on Penang isla…..

Celcom boosts East Coast broadband service
Celcom Axiata Bhd is intensifying efforts to enhance the quality of broadband service in the East Coast on expectations of a significant increase in users next year. The company’s eastern region vice president, Datuk Sulaiman Ahmad, said that present…..

Stanchart Saadiq wins Islamic banking award
Standard Chartered Saadiq Malaysia, the Islamic banking unit of Standard Chartered Bank Malaysia Bhd (Stanchart) has won the Islamic Business and Finance Awards for Best International Bank 2010.In a statement today, Stanchart said the award has cemen…..

KL shares end broadly higher
Share prices on Bursa Malaysia closed broadly higher today as investors continued to pick up selected heavyweight stocks, signaling the possibility of a pre-new year rally, dealers said.The FTSE Bursa Malaysia (FBM) KLCI closed 6.9 points higher at 1…..

Kangaroo strikes A$277m coal deal
Kangaroo Resources Ltd (KRL) has bought a 99 per cent stake in a large thermal coal project in Indonesia. KRL bought the stake in the Pakar thermal coal project in East Kalimantan from PT Bayan Resources Tbk in a scrip deal worth A$277 million. Pakar…..

RM20m GDV for ‘Garden Explore’ project
Green Atmosphere Sdn Bhd (GA) has estimated a gross development value of RM20 million for its newly launched one-stop outdoor living mart project called ‘Garden Explore’. With its strategic location in Seri Kembangan, between Puchong and Putrajaya, t…..

Energy stocks push Dow to 2-year high
NEW YORK: US blue chip stocks hit fresh two-year highs on Tuesday, as a strong performance from the energy and utilities sectors boosted the market.The Dow Jones Industrial Average rose 20.51 points (0.18 per cent) to 11,575.54, buoyed by gains from…..

Market higher at midday
Share prices on Bursa Malaysia closed higher at midday break amid a rangebound trade, with the key FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) settling 0.41% higher due to sustained buying on index-linked counters……

Seloga directors challenge removal
PETALING JAYA: The four directors of Seloga Holdings Bhd, who received notices of their termination as directors with immediate effect, are expected to challenge their removal and present their case to shareholders at an EGM next month……

Jelas Ulung not planning to seek extension for concession
PETALING JAYA: Jelas Ulung Sdn Bhd is not planning on asking the Government for an extension of PLUS Expressways Bhd’s tolled-highway concessions post-2038 in its proposal to take over the company……

Private consumption growth to remain stable
PETALING JAYA: Growth in private consumption is expected to remain stable next year despite the threat of higher inflation and a slower expansion of the economy……

More fund raising seen next year, driven by ETP
KUALA LUMPUR: More fund raising activities are expected next year, largely driven by the Economic Transformation Programme (ETP), says AmInvestment Bank Bhd……

Reverse takeover offer of Esmart by Atlan now unconditional
PETALING JAYA: Atlan Holdings Bhd said the two conditional sale and purchase agreements dated June 28 entered between Atlan and Esmart Holdings Ltd (Esmart) pursuant to the reverse takeover of Esmart became unconditional yesterday……

Wah Seong subsidiaries dispose stakes in DrilBits, DrilTools
KUALA LUMPUR: Wah Seong Corp Bhd’s wholly owned direct and indirect subsidiaries, Wah Seong International Pvt Ltd and Wasco E&P Services Ltd, have disposed of their 60% equity stakes in DrilBits International Pvt Ltd and DrilTools International FZCO,…..

Jaks secures RM201m contract
PETALING JAYA: Jaks Resources Bhd, through subsidiary Jaks Sdn Bhd, has secured a RM201mil contract from MNH Global Assets Management Sdn Bhd for a commercial project located in Ara Damansara……

Buoyant year ahead for natural rubber
PETALING JAYA: Rubber prices, which hit many new historic highs over the past two months, are set to extend their rally into the first quarter of next year on a prolonged tight supply situation, says industry experts……

STC grants BLand extension of time
PETALING JAYA: Selangor Turf Club (STC) has granted a further extension of time to Berjaya Land Bhd (BLand) to Jan 18, 2012 from Jan 19, 2011 to fulfill the conditions precedent pursuant to the proposed acquisition of STC’s 244.79 acre leasehold prop…..

MARC affirms ratings on EP notes
PETALING JAYA: Malaysian Rating Corp Bhd (MARC) has affirmed its MARC-2ID/AID ratings on EP Manufacturing Bhd’s RM150mil murabahah notes issuance/islamic medium term notes (MUNIF/IMTN) facilities and RM120mil MUNIF/IMTN facilities……

Boromir notes ratings reaffirmed
PETALING JAYA: RAM Ratings has reaffirmed the respective long-term ratings of Boromir Capital Sdn Bhd’s Class A, B, C and D commercial papers/medium-term notes programme (CP/MTN programme) at AAA, AA2, A1 and A2 ……

Crowe Horwath ops expand on merger
KUCHING: Crowe Horwath, Malaysia’s fifth largest accounting firm, has increased its offices in the country by four to 12 locations with the merger of Hii & Lee, together with Kenny Chong of Tong & Chong Partners……

Poll: Youths still tuned in to mass media
PETALING JAYA: Most single youngsters aged 15 to 24 years have not yet abandoned mass media, despite the image of them as being glued to the Internet……

Wise to weigh on early predictions
SCANNING the news overseas over the past few days, one sees an emerging theme of warning that the next banking or financial crisis can occur if some outstanding issues are not resolved……

Can JCorp manage debt without asset sale?
PETALING JAYA: For those still craving for a bite of its “finger lickin’ good” business in Malaysia, Johor Corp (JCorp) has this to say: “QSR Brands Bhd and KFC Holdings (M) Bhd are not for sale.”…..

KL motor show should have more foreign brands in future
THE Kuala Lumpur International Motor Show (KLIMS) 2010, which came to a close on Dec 12, drew mixed responses from 321,958 people that attended it during the 10-day tenure……

ASN income distribution at 6 sen
KUALA LUMPUR: Amanah Saham Nasional Bhd (ASNB), a wholly owned subsidiary of Permodalan Nasional Bhd (PNB), yesterday announced an income distribution of 6 sen per unit for Amanah Saham Nasional (ASN) scheme for the financial year ending Dec 31, 2010…..

CIMB completes restructuring of Thai unit’s NPLs
PETALING JAYA: CIMB Group Holdings Bhd has completed the restructuring of non-performing loans (NPLs) under the non-performing asset division of 93.15%-owned subsidiary CIMB Thai Bank pcl……

Sunway City buys land in Johor
PETALING JAYA: Sunway City Bhd is acquiring 64.63 acres near Johor Baru from Bukit Lenang Development Sdn Bhd for RM134.52mil……

MSC secondary listing approved
PETALING JAYA: Shareholders of Malaysia Smelting Corp Bhd (MSC) has approved the secondary listing of the company on the Singapore stock exchange in a meeting……

Kenmark to delist on Dec 31
PETALING JAYA: Furniture maker Kenmark Industrial Co (M) Bhd, a financially distressed company, would be removed from the official list of Bursa Malaysia this Friday……

AIG, unit sign US$4.3bil credit agreements
CHARLOTTE: Bailed-out insurer American International Group (AIG) took another step toward winding down its US government support on Monday by securing US$4.3bil of bank credit lines, and company shares surged……

Daiichi to take over Tower Group
TOKYO: Japan’s Daiichi Life Insurance Co plans to buy the shares it does not already own in Tower Australia Group Ltd for about 100 billion yen (US$1.21bil), the Nikkei business daily said yesterday……

Alcatel agrees to settle bribery case
WASHINGTON: Alcatel Lucent SA has agreed to pay more than US$137mil to settle US charges that it paid millions of dollars in bribes to foreign officials to win business in Latin America and Asia, US authorities said on Monday……