KLSE 

Dated 2011-06-30

  FBM KLCI ends H1 on high note
The FTSE Bursa Malaysia KLCI (FBM KLCI) ended the first half of this year on a high note, to set a historic high of 1,579.07, 60.16 points higher compared with 1,518.91 recorded on Dec 31 last year. MIDF Research senior analyst, Syed Muhammed Kifni S…..

  Bumi Armada order book healthy at RM5.8b
Offshore oil and gas services provider, Bumi Armada Bhd, which aims to raise RM2.029 billion from its initial public offering (IPO), has an order book of RM5.8 billion as at June 1, 2011. Its executive director/chief executive officer, Hassan Assad B…..

Bumi Armada secures cornerstone investors
Bumi Armada Bhd, Malaysia’s largest supplier of vessels for the oil and gas industry, said it secured cornerstone investors for its initial public offering in Kuala Lumpur.Institutional investors Great Eastern Life Assurance (Malaysia) Bhd, Permodala…..

Mah Sing to continue land acquisitions, JVs
Property developer, Mah Sing Group Bhd, will continue to acquire prime land and enter into joint ventures in future, to further boost its expansion strategy.Managing Director, Tan Sri Leong Hoy Kum said the group is keen on both privately held and go…..

IAEA declares Lynas project safe
The International Atomic Energy Agency (IAEA) has concluded that the Lynas Corporation Ltd’s rare earth plant in Gebeng, Pahang, is safe but the Australian company must undertake improvementsin various technical areas before it can proceed to the nex…..

Global funds raise Malaysia debt holdings
Global funds boosted their holdings of ringgit-denominated debt to a record in May as the local currency reached its strongest level in 13 years, central bank data showed.The value of bonds owned by overseas investors rose 5 per cent during the month…..

Malaysia steel sector lifted to ‘overweight’
OSK Research Sdn Bhd has upgraded the Malaysian steel sector to an ‘overweight’ amid merger and acquisitions and iron ore concession news set to add glow to the industry. ‘We are turning positive on the steel sector and believe the merger and acquisi…..

Malaysia eyes major aerospace investments
Several major investments from French companies are expected to come into the Malaysian aerospace industry this year, including in the maintenance, repair and overhaul sector.Declining to disclose details of the companies or the investment amount inv…..

Satang directors reprimanded, fined
Bursa Malaysia Securities Bhd has publicly reprimanded and fined six directors of Satang Holdings Bhd a total of RM180,000 for breaches on the Main Market Listing Requirements. In a statement today, the bourse said the directors were found to have b…..

Multi-Code Q3 pre-tax profit drops slightly
Multi-Code Electronics Industries (M) Bhd posted a slightly lower pre-tax profit at RM3.08 million for the third quarter ended April 30, 2011 against RM3.5 million in the same period last year. Revenue fell to RM25.1 million during the period unde…..

Hibiscus Petroleum to only venture into E&P
Hibiscus Petroleum Bhd will utilise its initial public offering (IPO) proceeds of between RM150 million and RM300 million to acquire stakes in one to three oil and gas exploration and production (EandP) companies. ‘We intend to only venture into Eand…..

Sapura Res quarterly profit rises to RM131m
Sapura Resources Bhd reported a higher pre-tax profit of RM131.192 million for the three months ended April 30, 2011 compared with RM4.923 million registered in the corresponding period last year. Revenue for the period increased to RM4.864 million, …..

Berjaya Corp falls on Q4 earnings drop
Berjaya Corp, a Malaysian property, insurance and gaming group, fell for the first time in three days in Kuala Lumpur trading after reporting a 28 per cent drop in fourth-quarter earnings.The stock fell 1.7 per cent to RM1.18 at 9:11 a.m. local time……

Kinsteel rises after upgrade to ‘neutral’
Kinsteel Bhd, a Malaysian steelmaker, rose to a one-month high in Kuala Lumpur trading after the stock was upgraded to ‘neutral’ from ‘sell’ at OSK Research Sdn Bhd.Its shares climbed 1.4 per cent to 73 sen at 9:19 a.m. local time, set for their high…..

Yinson jumps to 13-year high on vessel job
Yinson Holdings Bhd, a Malaysian transport group, rose to its highest level in more than 13 years after saying its contract to provide an offshore support vessel to Petro Vietnam Technical Service is valued at US$331.2 million over 20 years.The stock…..

Rubber price to remain strong: DBS Vickers
Natural rubber prices are expected to remain strong with the Technically Specified Rubber 20 (TSR20) grade being maintained at an average of US$4,251 per tonne next year and US$4,157 per tonne in 2013.The rubber grade currently fetches US$4,200 per t…..

Hiap Teck slides to 23-month low
Hiap Teck Venture Bhd, a Malaysian steel products manufacturer, dropped to a 23-month low in Kuala Lumpur trading after fiscal third-quarter profit dropped 68 per cent from a year earlier to RM5.42 million.The stock slid 1.6 per cent to 93 sen at 9:0…..

Ford introduces ecoboost engines
Ford Motor Company, which launched two new imported ecoboost engine vehicles today, expects the units to be availablein showrooms in August. ‘We will accept bookings for both models beginning next week,’ said Regional Manager, Asia Pacific, Ford Expo…..

Mercedes eyes bigger S-Class mart share
Mercedes Benz Malaysia Sdn Bhd expects the market share of its S-Class sedans in the luxury segment to increase to 55 per cent from 53 per cent at present. Its vice president of sales and marketing, Kai Schlickum, said the Mercedes S-Class was a s…..

Merge Housing climbs on buyout offer
Merge Housing Bhd, a Malaysian property developer, rose to a 15-month high in Kuala Lumpur trading after receiving a buyout offer at 65 sen a share from two of its biggest shareholders.The stock climbed 4.9 per cent to 64 sen at 9:02 a.m. local time,…..

AmBank issues 7 new put & call warrants
AmBank (M) Berhad (‘AmBank’) is issuing seven new European style cash-settled structured warrants to meet investors’ demand for trading opportunities and alternative investments for the current market. Under AmBank’s Put-Call Pair Programme, there wi…..

Ringgit reverses losses on bond demand
Malaysia’s ringgit rose for a third day, reversing earlier losses for this quarter, as improving sentiment toward emerging-market assets attracted global investors to the nation’s debt.Greek lawmakers passed budget-austerity measures yesterday in the…..

Malaysia June palm exports up 6.3pc: ITS
Malaysia’s palm oil exports rose 6.3 per cent in June compared with the previous month, independent market surveyor Intertek said.A total of 1,440,173 metric tons of the commodity were tracked from June 1 to 30, versus 1,354,516 tons in May, Intertek…..
  Maxwell Intl to acquire HK-based label
China-based sports and casual shoes manufacturer, Maxwell International Holdings Bhd, is eyeing the acquisition of a sportswear maker to expand its product offerings. Its chairman and executive director, Jenny Li Kwai Chun said talks are still ongoin…..

  KL shares close mixed
The FTSE Bursa Malaysia (FBM) KLCI ended today’s trading at its historic high of 1,579.07 with most heavyweight countersposting gains on steady buying amid end-of-month window dressing and rising commodity prices. The overall market, however, continu…..

Short term rates to remain stable: BNM
Short-term rates are expected to remain stable today as Bank Negara will issue 12 tenders to absorb excess liquidityfrom the financial system today. The central bank estimated huge liquidity amounting to RM40.279 billion in the conventional system an…..

Lynas trading halted pending review update
Lynas Corp shares were halted in Sydney pending an update concerning the independent technical review of the company’s plant in Malaysia. — Bloomberg…..

US stocks rally after Greek vote
NEW YORK: US stocks rallied on Wednesday after the Greek parliament approved an unpopular austerity plan, warding off the risk of a sovereign default that could destabilise Europe’s financial system.The Dow Jones Industrial Average gained 72.73 point…..

FBM KLCI closes higher
The FTSE Bursa Malaysia KLCI (FBM KLCI) manages to crawl out of the red to close by 4.06 points higher to 1,579.07…..

Record-breaking RM6bil sukuk sold
PETALING JAYA: Malaysia successfully concluded the sale in two tranches totalling US$2bil (RM6.06bil) of sukuk wakala in the early hours of Wednesday in deals which saw a surprisingly high subscription rate given the uncertainties in the global credi…..

KL market at all-time high on positive news
PETALING JAYA: The FBM KLCI yesterday surpassed its all-time high of 1,574.49 on Jan 17, as investor sentiment was buoyed by Wall Street’s sharp rise on Tuesday, which was reflective of the growing optimism for a potential viable solution to Greece’s…..

Keep politics off affordable housing schemes
IT would appear that demand for super high-end homes is showing absolutely no sign of abating. YTL Land & Development issued a press release that its Grove at Lake Fields project in Sungai Besi, from a starting price of RM1.8mil, has been snapped up …..

Poor governance leads to award of non-existent US$5bil job
KUALA LUMPUR: There appeared to be little internal control or governance framework within Linear Corp Bhd, and it is this weak link that led to the supposed award of the US$5bil Kingdome Project in December 2009 and the setting up of Prime Savings an…..

Genting UK gets licence
PETALING JAYA: Genting Bhd’s British subsidiary, Genting UK, has been awarded a licence to operate a casino at the NEC in Birmingham, the BBC reported on Tuesday……

Norway’s BioProtein to invest RM$600m in M’sia
WASHINGTON: Norwegian firm BioProtein Engineering AS plans to invest US$200mil (RM600mil) over three years to set up a plant in Malaysia producing high-protein feed for the aquaculture industry……

KNM aims for RM3.4bil in new orders
SERI KEMBANGAN: KNM Group Bhd, which has an order backlog of RM5.5bil, expects to secure at least 20% of the RM17bil worth of projects it is tendering, according to executive chairman/CEO Lee Swee Eng……

Eversendai wins new RM139mil Qatar job
PETALING JAYA: Eversendai Corp Bhd announced that it has secured a new contract in Qatar worth 165 million riyals (RM139mil), just one day before listing on Bursa Malaysia……

Govt briefing on Lynas today
PETALING JAYA: The Government will make an announcement today on Lynas Corp’s planned rare-earth refinery in Kuantan following a health and safety review by a panel of experts appointed by the IIAEA……

PLUS to make ‘advance’ payment to shareholders
PETALING JAYA: The largest toll operator in the country, PLUS Expressways Bhd has declared an interim single-tier dividend of 15 sen per share amounting to RM750mil yesterday that could be considered an “advance” payment to its shareholders that are …..

TNB and other shareholders hope to clear the air in Integrax
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is working at ironing out its issues with the other shareholders of port operator Integrax Bhd, according to an official of the utility giant……

Sozo Global’s dual listing may take a year
PETALING JAYA: The proposed secondary listing of China-based but locally-listed food manufacturer, Sozo Global Ltd, on the Singapore Exchange (SGX) could take six months to a year or more to materialise depending on market conditions……

Eita to issue 23 million new 50-sen shares under IPO exercise
PETALING JAYA: Electrical and electronic (E&E) components and equipment distributor Eita Resources Bhd is looking at issuing 23 million new shares of 50 sen each and have an offer for sale of 17 million existing shares of 50 sen each under its in…..

Satang-RMAF contract extended
PETALING JAYA: Satang Holding Bhd told Bursa Malaysia yesterday that the Defence Ministry had extended for two years the former subsidiary’s contract for the supply of non-proprietary spare parts, components and any related equipment for aircra…..

Formis says will consider adding Ho Hup stake
PETALING JAYA: Information technology services provider Formis Resources Bhd (FRB) may consider increasing its stake in Practice Note (PN) 17 firm, Ho Hup Construction Co Bhd, for the right price, said FRB chairman Tan Sri Megat Najmuddin Megat Khas…..

Maybank unit to buy ATR KimEng
PETALING JAYA: Kim Eng Holdings Ltd, a subsidiary of Malayan Banking Bhd (Maybank), is looking to buy 344.4 million shares, or a 32.24% stake, in securities broking, investment banking and corporate finance advisory firm ATR KimEng Financial Corp fro…..

BCorp Q4 net profit 28% lower
PETALING JAYA: Berjaya Corp Bhd’s (BCorp) net profit for its fourth quarter ended April 30 dropped by 27.9% to RM103.6mil against the same quarter last year due to the impairment in value of certain property, plant and equipment, loss on dispos…..

Jaycorp Q3 net profit down 67%
PETALING JAYA: Furniture manufacturer Jaycorp Bhd saw its third quarter ended April 30 net profit drop 67% to RM705,000 from RM2.11mil a year ago owing to a weak US dollar, higher production cost and sluggish economic conditions in its importing coun…..

Leader sees revenue from US$107mil Cambodia project
GEORGE TOWN: Leader Universal Holdings Bhd will be able to generate partial revenue from its US$107mil build-operate-own power transmission concession project in Cambodia in the third quarter of this year……

Merge Housing to go private
PETALING JAYA: Property developer Merge Housing Bhd’s chief and his two brothers are looking to take the company private, by offering to buy up all remaining shares not owned by them, or some 69.2 million shares, for RM45mil……

Badriyah is new Seda CEO?
PETALING JAYA: Badriyah Abdul Malek, Energy, Green Technology and Water Ministry’s under secretary for sustainable energy is tipped to be the chief executive officer (CEO) of Sustainable Energy Development Authority (Seda)……

Three new directors for Green Rubber
KUALA LUMPUR: Green Rubber Global Ltd has appointed three board members, namely Kevin McCabe, Andres Pastrana and Khairy Jamaluddin……

Study on postal banks
SHAH ALAM: Bank Muamalat Malaysia Bhd (BMMB) is in talks with Pos Malaysia Bhd about a possible collaboration in setting up a postal bank network……

Asia’s eyes on IMF
SINGAPORE: Asia’s fast-rising economies set their sights on securing key International Monetary Fund (IMF) appointments under newly named chief Chistine Lagarde yesterday, hopeful she would be the one to make good on oft-heard pledges to swing more p…..

Nissan’s Ghosn is highest paid exec at a Japanese firm
YOKOHAMA: Nissan Motor Co chief executive Carlos Ghosn made 982 million yen (US$12.1mil) last year, likely making him the highest-paid executive at a Japanese company again, topping the 863 million yen earned by his Sony Corp counterpart, Howard Str…..

US stocks rise as Greece nears debt solution
NEW YORK (AP) — Stocks closed higher for the third day in a row Wednesday after Greece cleared a hurdle toward getting more emergency loans. Financial stocks rose after Bank of America reached a settlement with investors over failed mortgage securiti…..

Oil rebound weakens effect of supply release
NEW YORK (AP) — An attempt by the U.S. and other non-OPEC governments to sway oil and gasoline prices appears to have petered out in less than a week……

EU proposes US$1.48 trillion budget for 2014-2020
BRUSSELS (AP) — The European Union on Wednesday proposed a budget worth €1.025 trillion (US$1.48 trillion) for the seven years between 2014 and 2020, up 5 percent from the previous budget period……

IMF urges US lawmakers to raise US$14.3tril debt limit
WASHINGTON (AP) — The International Monetary Fund warned U.S. lawmakers Wednesday that a failure to raise America’s borrowing limit would pose serious risks to the global economy and financial markets……

Review: HP TouchPad’s tablet
SAN FRANCISCO (AP) — A year after Hewlett-Packard Co. purchased flailing Palm, the technology behemoth is rolling out the first tablet that uses Palm’s webOS operating system……

Report: American Airlines to spend US$15bil to replace US fleet
FORT WORTH, Texas (AP) — American Airlines is in talks with aircraft manufacturers Airbus and Boeing Co. to purchase at least 250 aircraft in a deal valued at about US$15 billion, The Wall Street Journal said……

Obama pushes Republicans on taxes on wealthy
WASHINGTON (AP) — President Barack Obama insisted on eliminating tax breaks for oil companies and the superrich as part of any plan to tackle the nation’s deficit, casting himself as a voice of reason. Unfazed, Republican lawmakers stuck to their vow…..

Amazon to cut off California-based Web affiliates
SAN FRANCISCO (AP) — Amazon.com Inc. said Wednesday that it will stop working with online affiliates based in California since the state passed a new rule that forces online retailers to collect sales tax there……

Greece passes steep cuts as riots seize capital
ATHENS, Greece (AP) — Greece fended off a bankruptcy that threatened to roil global financial markets, approving severe spending cuts and tax increases Wednesday in the face of violent protests by Greeks who say they have suffered enough……

TMX Group kills merger with London Stock Exchange
TORONTO (AP) — The operators of the Toronto and London stock exchanges have killed a $3.8-billion proposed merger, saying the controversial deal could not garner enough shareholder support to go ahead……

Monsanto posts US$680 million profit in 3rd quarter
ST. LOUIS (AP) — Monsanto Co. says higher sales of genetically engineered seeds helped it boost its third-quarter profit 77 percent, as the company disclosed federal regulators have subpoenaed the company as part of an investigation into its herbicid…..

Libya’s new energy minister: Output at 20K barrels
TRIPOLI, Libya (AP) — Libya’s newly appointed energy minister says the country is now producing just 20,000 barrels of oil per day, a fraction of prewar output……

News Corp sells MySpace for US$35M mostly in stock
LOS ANGELES (AP) — News Corp. has sold struggling social networking site MySpace for US$35 million, mostly in stock, according to a person familiar with the matter. The deal values MySpace at a fraction of what News Corp. paid for the site six years …..