KLSE 

Dated 2011-01-31

  Latexx Partners gets RM852m offer
Latexx Partners Bhd today received a RM852 million acquisition proposal to acquire its entire business and undertakings. In a filing to Bursa Malaysia, it said the proposed acquisition from Navis Asia VI Management Company Ltd in association with Met…..

  Gamuda-MMC to implement mass rail project
Gamuda Bhd said its joint venture with MMC Corp was appointed project delivery partner by the government for the implementation of the Klang Valley mass rail project in Malaysia, according to a company statement.The venture received a letter of award…..

DiGi upgraded on likely dividend
DiGi.Com Bhd, a Malaysian mobile phone operator, was upgraded to ‘buy’ at OSK Research Sdn Bhd to reflect expectations of a dividend ‘windfall payout’ in its financial year 2011.The share estimate was increased to RM27.90 from RM24.40, Jeffrey Tan, a…..

TM, partners plan US$430m undersea cable
NTT Communications said it plans to build a $430 million undersea cable with Telekom Malaysia Bhd, Philippine Long Distance Telephone Co, StarHub Ltd, according to a company statement today.The Asia Submarine-cable Express will connect major business…..

Sime forms independent boards for divisions
Conglomerate Sime Darby Bhd has formed an independent board for each of its divisions, namely plantation, property, industries, motors, energy and utilities and healthcare.These divisions will also have their own chairman who will report their perfor…..

Pembinaan BLT raises RM1.1b sukuk
Pembinaan BLT Sdn Bhd, a construction company owned by Malaysia’s Ministry of Finance, increased an Islamic bond sale by 10 percent to RM1.1 billion ($359 million) after investors bid for more than it offered.The sukuk, the first under a 25-year, RM1…..

Property loans growth may taper off
ECM Libra Investment Research expects the loans growth to taper off in anticipation that property sales growth may slow down in late 2011. Residential and non-residential property loans which accounted for 44 per cent of loans growth in 2010 are alre…..

High Court rules EONCap takeover vote valid
The High Court has ruled that EON Capital Bhd’s shareholder vote last year in favour of a RM5.06b takeover by Hong Leong Bank Bhd is valid……

MAS may raise fuel surcharges:CEO
Malaysian Airline System Bhd, the national carrier, is monitoring fuel prices and may increase surcharges if oil prices further rally, Chief Executive Officer Tengku Azmil Zahruddin told reporters today in Sepang, outside of Kuala Lumpur.’The current…..

Plantations sector a ‘trading buy’ at CIMB
Crude palm oil prices may fall in the short term on concern that unrest in Egypt may weaken import demand and prompt traders to liquidate their speculative positions, CIMB Investment Bank Bhd said in report today.The plantations sector was maintained…..

‘Toll move may hit bond ratings of operators’
By halting or lowering toll rates, some concessions, particularly those in their infancy stage may find it hard to meet their debt obligations and this could trigger a downgrade in bond ratings, says OSK Research. Prime Minister Datuk Seri Najib Tun …..

OSK positive on Mudajaya Group
Mudajaya Group has a strong chance of participation in the civil works portion for another 1000MW power plant worth RM5 billion, following the government’s Request for Proposal (RFP) to Tanjung Bin and Jimah, says OSK Research.It said the civil works…..

AZRB gets RM125m construction contract
Ahmad Zaki Resources Bhd (AZRB) has secured a RM125 million contract to construct and complete 1,002 units of flats in three blocks of 17-storeys buildings and related works for public housing at Chabang Tiga, Kuala Terengganu, Terengganu.In a filing…..

ECM ‘neutral’ on Selangor water sector
ECM Libra Investment Research maintains a ‘neutral’ call on the Selangor water sector as the water consolidation exercise may be a long journey while the various parties involved strive to create a ‘win-win’ scenario for all amid a complex situation……

Two-year extension for Moggie at TNB
The tenure of Tan Sri Leo Moggie as non-executive chairman of Tenaga Nasional Bhd (TNB), has been extended by another two years from March 12, the company announced in a statement here today.Leo Moggie was appointed non-executive chairman of TNB on A…..

IOI Corp leads Malaysia planters lower
IOI Corp fell to a three-month low in Kuala Lumpur trading, leading a drop by Malaysian planters after CIMB Investment Bank Bhd said palm oil prices may fall in the ‘short term’ on concern unrest in Egypt may hurt demand.IOI dropped 1.1 per cent to R…..

SP Setia remains a ‘sell’, says ECM
SP Setia Bhd remains in the ‘sell’ zone despite the positive acquisition of a 106.2 hectare (262.5 acres) land in Tebrau, Johor, last Friday, ECM Libra Investment Research said today.It target price was at RM6.00 per share. ‘We are not imputing any e…..

SapuraCrest to develop eastern o&g fields
SapuraCrest Petroleum Bhd said it has entered into contracts to jointly develop and operate an oil and gas field off Malaysia’s eastern coast.It will work in conjunction with Petroliam Nasional Bhd, Kencana Energy Sdn Bhd and Petrofac Energy Developm…..

CB Industrial gets RM40.3m contract
CB Industrial Product Holdings Bhd”s unit Modipalm Engineering Sdn Bhd has secured a contract from Dekel Oil CI SA, worth RM40.3 million, to build a mill in Ivory Coast.In an announcement to Bursa Malaysia today, the palm oil mill processing equipme…..
  TA Global buys hotel business in China
TA Global Bhd, a Malaysian property developer, said it agreed to buy Kingdom Kunshan Ltd, the owner of Swissotel Kunshan in Kunshan, China, for US$60.8 million, according to a company statement today.The Malaysian company is buying the hotel business…..

  GCB’s Q4 pretax rises to RM32.2m
Guan Chong Bhd’s (GCB) pre-tax profit for the fourth quarter ended Dec 31, 2010 rose to RM32.2 million from RM9.4 million in the same quarter of 2009.Revenue increased to RM332.3 million from RM217.8 million previously, it said in a filing to Bursa M…..

Century climbs on KL trading debut
Century Software Holdings Bhd, a Malaysian provider of financial management software, rose in its trading debut on the Kuala Lumpur stock exchange. The stock climbed 3.2 per cent to 96 sen at 9:02 a.m. local time. The company sold shares at 93 sen ea…..

MTDCap jumps on takeover offer
MTD Captial Bhd, a Malaysian builder, rose to a record in Kuala Lumpur trading after two of its directors offered to buy the toll-road assets and liabilities of two subsidiaries for a total of RM3.53 billion. Its shares jumped 11 per cent to RM10.60…..

TA Global rises to 1-week high
TA Global Bhd, a Malaysian property developer, rose to a one-week high after agreeing to buy Kingdom Kunshan Ltd, the owner of Swissotel Kunshan in Kunshan, China for US$60.8 million.The stock climbed 3.5 per cent to 45 sen at 10:55 a.m. local time, …..

Tiger Synergy buys land for RM4.1m
Tiger Synergy Bhd (TSB)’s wholly-owned MyHarmony Development Sdn Bhd (MDSB) has entered into a sale-and-purchase agreement to acquire two pieces of freehold agricultural land for RM4.135 million.The 1.18 hectare land, located in the 10th Mile to Sg B…..

IRB appoints new Deputy DG
Datuk Dr Siti Mariam binti Che Ayub has been named the Inland Revenue Board’s (IRB) new deputy director general (compliance)from Feb 1.Her current position as the deputy general general (tax operation) will be taken over by Sait @ Mohammad Sait Ahmad…..

Bintai Kinden gains on contract win
Bintai Kinden Corp, a Malaysian engineering group, rose to a two-week high in Kuala Lumpur trading after winning a RMS$35.9 million (US$28 million) contract to help build a hospital, hotel and clinics in Singapore.Its shares gained 3.1 per cent to 33…..

KL shares close lower
SHARE prices on Bursa Malaysia recovered some of its losses in eleventh hour buying but the FTSE Bursa Malaysia KLCI (FBM KLCI) still finished in the minus territory.The market barometer closed 1.95 points easier at 1,519.94 after opening 14.22 point…..

Axiata rises on Indonesia unit results
Axiata Group Bhd, a Malaysian mobile phone operator, rose the most in three weeks after its Indonesian unit said 2010 net income climbed to 2.9 trillion rupiah from 1.71 trillion rupiah a year earlier.The stock advanced 1.3 per cent to RM4.79 at 11:5…..

Malaysia Jan palm exports fall 3.6pc: ITS
Malaysia’s palm oil exports fell 3.6 per cent in January, independent market surveyor Intertek said.A total of 1,239,758 metric tons of the commodity were tracked on Jan. 1 to 31, versus 1,285,639 tons in December, Intertek said in an e-mail statemen…..

Higher cocoa prices boost Guan Chong’s profit
Cocoa processor Guan Chong’s net profit received a boost from higher raw material prices with net profit for the quarter ended Dec 31, 2010 climbing to RM42.90 million from RM6.67 million in the previous corresponding quarter……

SapCrest, Kencana and Petrofac in JV to develop Berantai
Sapura Crest Petroleum (SapCrest), Kencana Petroleum and Petrofac Energy Developments, a unit of London-listed Petrofac, has entered into a joint venture (JV) to develop and operate the Berantai field located 150km offshore Terengganu……

Local bourse ends lower
The local bourse steadily regained ground but still closed lower in tandem with markets in the region as investors continued to tread cautiously due to the shortened trading week and external headwinds……

All eyes and ears on second MRT
KUALA LUMPUR: The second mass rapid transit (MRT) line, which circles the Kuala Lumpur city centre (KLCC) orbital and known as the “circle line”, is already in the final planning stage……

FSM target: A high-income nation
PETALING JAYA: The thrusts of the upcoming Financial Sector Masterplan (FSM) will likely revolve around transforming the country into a high-income nation, strengthening its position in Islamic finance and managing and retaining the talent pool……

RHB Bank wants to boost ties with Pos Malaysia
PETALING JAYA: RHB Bank Bhd, encouraged by the response received for its selected banking services offered at 21 Pos Malaysia branches, plans to expand the service range and extend it to other post offices nationwide……

Support for minimum cap of RM500m
PETALING JAYA: Despite calls by several investment banks for the minimum capital requirement of RM500mil to be lowered, many industry observers feel the amount is justified as investment banks are subjected to greater market volatility while requirin…..

How to guarantee roaring book sales
YOU have to hand it to the Americans. They really know how to market themselves……

Economists: Slower demand from G3 may impact region
PETALING JAYA: The slower pace of demand in the United States, European Union and Japan, which constitute the Group of 3 (G3) economies, will continue to be an area of concern for Malaysian exporters this year……

More protection needed for local condom makers
MUAR: The Government should consider reviewing its outdated policies on condom and infant-related products and categorise them as medical devices……

ECER promotes economic zone at Gulf forum
ABU DHABI: Access to a wealth of investment opportunities awaits investors in Malaysia’s East Coast Economic Region (ECER)-Special Economic Zone (SEZ), dubbed by its promoters as the “Klang Valley of the East Coast”……

Glomac rides on niche projects
PETALING JAYA: Glomac Bhd, a medium-sized property outfit, is on an exciting growth path as it undertakes more niche developments with fast turnaround time in Greater Kuala Lumpur……

Challenging times ahead for Iskandar
JOHOR BARU: Iskandar Regional Development Authority (Irda) chief executive officer Ismail Ibrahim says attracting new investments to Iskandar Malaysia is going to get tougher and more challenging……

2010 exciting for Ismail
Iskandar Regional Development Authority’s third CEO Ismail Ibrahim talks to StarBiz about his experience in Irda since taking office a year ago…..

Asian stocks fall amid concerns over Egypt unrest
TOKYO (AP): Asian stock markets fell on Monday as investors sought less risky investments amid concerns over anti-government riots in Egypt……

Casino king Ho’s family feud takes another twist
HONG KONG (AP): Family members involved in a dispute with ailing casino baron Stanley Ho’s family say he has dropped his legal action against them……

Japan industrial output up for second month
TOKYO (AP): Japan’s industrial production expanded for a second straight month in December, as companies gained confidence in strengthening global demand……

Davos panel backs US growth policies
DAVOS, Switzerland (AP): Arguing that the jury is still out on whether Europe can weather its debt crisis, achieve growth and stabilize its common currency, former U.S. treasury chief Larry Summers did the American thing and reached for a sports anal…..

With new casino, Syria bets on openness to world
DAMASCUS, Syria (AP): The young roulette dealer, dressed in electric green, gives the wheel a spin as a crowd of men clutch their whiskey glasses, hoping to strike it rich……

Philippine economy grows at fatest pace in 24 yrs
MANILA, Philippines (AP): The Philippine economy has galloped to its highest annual growth in more than two decades, expanding 7.3 percent in 2010 on strong foreign trade and election spending……

Spain to offer capital to savings banks
MADRID: Spanish savings banks struggling to find private cash as part of new recapitalisation rules will have access to state-backed funds from March, the economy ministry said yesterday……

Higher costs sink Ford profit
DETROIT: Ford Motor Co’s earnings fell far short of expectations on surging costs for new vehicle launches and an unexpected loss in its European business……

Alpha agrees to buy Massey for US$7bil
CHICAGO: Alpha Natural Resources said on Saturday it agreed to a US$7.1bil deal to buy Massey Energy Co, which was rocked by a deadly coal mining accident last year……

Focus on Egypt, earnings and jobs
NEW YORK: US stocks may struggle to return to firmer footing this week if anti-government riots in Egypt destabilise the Middle East, keeping investors on edge……

‘Milestone’ WTO ruling due in EU-US aircraft battle
GENEVA: The World Trade Organisation (WTO) is expected today to hand over a final but confidential ruling to the United States and European Union (EU) on their bruising dispute over decades of multi-billion dollar US public aid to aircraft giant Boei…..