KLSE STOCK MARKET 

Dated 2011-09-30

  ‘Supermax cheaper exposure than Top Glove’
Top Glove Bhd and Supermax are the main beneficiaries of the expected fall in natural rubber latex price, says OSK Research. In a research note today, OSK Research said it also sees Supermax as a cheaper exposure than Top Glove, since both share the …..

  Andrew Sheng quits Sime board
Tan Sri Andrew Sheng Len Tao has resigned from the board of Sime Darby Bhd and as the chairman of the governance and audit committee effective Sept 29, 2011. The resignation comes in the light of his appointment as the president ofthe Fung Global Ins…..

PNB buys 23.5m SP Setia shares in open mart
Permodalan Nasional Bhd (PNB), which has made an mandatory general offer to take over property developer, SP Setia Bhd, is accumulating the shares in the open market.In a filing to Bursa Malaysia, SP Setia said PNB has bought 23.5 million shares in t…..

‘Malaysia economy to grow 5pc in 2011′
Malaysia’s economy is expected to expand 5 percent this year as a ‘strong’ banking system and rising foreign direct investment help cushion the country from the global economic slump, International Trade and Industry Minister Mustapa Mohamed said.’Al…..

Brem plans to diversify its business
Brem Holding Bhd plans to diversify its business portfolio in a bid to generate consistent income, given that the civil engineering and construction businesses are becoming volatile. Managing director Khoo Chai Kaa said Brem is exploring niche market…..

Malaysia ready for 4G services: Telenor
Telenor ASA, the largest phone company in the Nordic region, plans to open fourth-generation services in Malaysia, making it the first country in the company’s Asian operations to get the new high-speed networks.’The Malaysian economy is ready for 4G…..

UEM, EPF told to pay Plus investors dividend
Plus Expressways Bhd (PEB) has requested for the UEM Group Bhd and the Employees Provident Fund (EPF) Board to consider paying a dividend to all shareholders of PEB. The dividend is in addition to the offer price which is less the interim single tier…..

Global funds cut holdings of Malaysia debt
Foreign investors cut holdings of Malaysian local-currency debt in August from a record as the nation’s currency retreated from a 14-year high, central bank data show.The value of ringgit-denominated debt held by global funds fell to RM186 billion (…..

OSK maintains ‘neutral’ call on CIMB Group
OSK Research Sdn Bhd has maintained its ‘neutral’ call on CIMB Group Holdings but reduced its fair value for the stock to RM7.62. With the increasing volatility in the capital markets and its potential negative repercussions on equity deal flows, OSK…..

UOA to partner Viet firm on RM400m job
UOA Development Bhd and Vietnam’s Hoa Binh Construction and Real Estate Corp will jointly develop Sri Petaling residential development comprising 670 units of condominiums with an estimated gross development value (GDV) of RM400 million.In a statemen…..

Salcon wins construction jobs in Thailand
Salcon Bhd’s wholly-owned subsidiary, Salcon Engineering Bhd, through its joint venture company Hydrotek-Salcon Consortium, has been awarded construction works worth RM21.991 million inThailand. The award is from the Metropolitan Waterworks Authority…..

RHB,OSK rise on planned merger talks
Shares in Malaysia’s RHB Capital Berhad and OSK Holdings Berhad rose on Friday after the companies said they had asked for central bank approval to start merger talks. The two financial groups said on Thursday that they had submitted an applicati…..

Asian Pac sees good income from KK project
Property developer, Asian Pac Holdings Bhd, expects its KK Times Square project in Kota Kinabalu (KK), Sabah, which has a gross development value (GDV) of RM1.3 billion, to generate a good recurring income. Its chairman, Tan Sri Megat Najmuddin Megat…..

Petra Energy to buy more vessels
Sarawak-based Petra Energy Bhd is looking at buying more work barges, work boats and supply vessels to support its increasing role in the offshore brown field work particularly in the oil and gas hubs in Sabah and Sarawak. Executive director and chi…..

Gamuda gains on Q4 profit surge
Gamuda Bhd, a Malaysian construction and property group, advanced to the highest level in almost three weeks in Kuala Lumpur trading after fourth- quarter net income surged 46 percent to RM126.2 million.The stock gained 1.4 percent to RM2.91 at 9:06 …..

Bumi Armada signs RM1.46b deal with Apache
Bumi Armada Bhd, a Malaysian offshore oilfield services provider, received a RM1.46 billion (US$460 million) contract to supply and operate a floating production storage and offloading vessel for Apache Energy Ltd.The contract is for an initial four …..

CIMB climbs after Thai stake purchase
CIMB Group Holdings Bhd, Malaysia’s second-largest bank, rose in Kuala Lumpur trading after saying it bought 70 percent of Thailand’s Sicco Securities Pcl for 767.9 million baht (US$24.6 million).The stock climbed 1 percent to RM6.95 at 9:33 a.m. loc…..

SICCO Sec surges after CIMB acquires stake
BANGKOK: Shares in Thailand’s SICCO Securities Pcl surged on Friday on resuming trade after Malaysia’s CIMB Group Holdings acquired a majority stake at a higher-than-market price. By 0301 GMT, SICCO Securities shares were up 9.03 per cent at 1.69…..

UDA, Pasdec to develop land in Bukit Tinggi
UDA Holdings Bhd and Pasdec Corp Sdn Bhd, a wholly-owned subsidiary of PASDEC Holdings Bhd, today signed a memorandum of understanding (MoU) to jointly undertake a commercial development on a 60ha area in Bukit Tinggi, Bentong, Pahang.UDA Holdings ch…..

NHF to invest in 3D laser machines
New Hoong Fatt (NHF) Holdings Bhd plans to invest in 3D laser-cutting machines as part of its investment in plants and machinery to cater to the growing market demand. This proposed capital expenditure includes the purchase of the Trumpf Group’s worl…..

Astino rises most in 29 months
Astino Bhd, a Malaysian maker of metal roof sheets and doors, rose the most in almost 29 months in Kuala Lumpur trading after quarterly profit surged and the company proposed a share dividend.The stock gained 12 percent to 77 sen at 9:12 a.m. local t…..

Amkor, Toshiba ink pact on semi-con ops
Toshiba Corp and Amkor Technology Inc. signed a non-binding memorandum of understanding for the acquisition by Amkor of Toshiba’s semiconductor assembly operation in Malaysia, together with a license to Amkor for certain related intellectual property…..
  Malaysia Sept palm exports down 6.3pc
Malaysia’s palm oil exports fell 6.3 percent in September compared with the previous month, independent market surveyor Intertek said.A total of 1,520,948 metric tons of the commodity were tracked from Sept. 1 to 30, versus 1,622,731 tons in August, …..

  KL shares close lower
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.The FTSE Bursa Malaysia KLCI Index fell 0.33 point, or less than 0.1 per cent, to 1,387.13…..

US blue chips surge after German EU vote
WASHINGTON: US blue chips rebounded but tech stocks fell on Thursday after Germany’s parliament approved a crucial EU bailout package and new US data gave the economy a slightly more positive tint.The Dow Jones Industrial Average closed up 143.08 poi…..

Malaysia’s Bumi Armada signs RM1.46bil deal with Apache(update)
KUALA LUMPUR: Malaysia’s oilfield services provider Bumi Armada said on Friday it has signed a contract worth 1.46 billion ringgit ($459.4 million) to supply and operate a floating production, storage and offloading unit (FPSO) for Apache Energy……

UDA, Pasdec ink MoU to develop 60ha land in Bukit Tinggi
KUALA LUMPUR: UDA Holdings Bhd and Pasdec Corp Sdn Bhd, a wholly-owned subsidiary of PASDEC Holdings Bhd, today signed a memorandum of understanding (MoU) to jointly undertake a commercial development on a 60ha area in Bukit Tinggi, Bentong, Pahang……

Asia stocks fall in worst month since Oct 2008(update)
HONG KONG: Asian stocks fell on Friday, extending the worst monthly performance since the most volatile days of the global financial crisis in October 2008, with Chinese shares racking up sharp losses……

Petra Energy to acquire more marine vessels
BINTULU: Sarawak-based Petra Energy Bhd is looking at buying more work barges, work boats and supply vessels to support its increasing role in the offshore brown field work particularly in the oil and gas hubs in Sabah and Sarawak……

Risda gets RM53mil grant from Pemandu to develop NR smallholders in S’wak
SIBU, Sept 30 (Bernama) The Performance Management and Delivery Unit (PEMANDU) in the Prime Minister’s Department has allocated RM53 million in grant for the Rubber Industry Smallholders Development Authority (Risda) to develop rubber smallholdings i…..

NHF to invest in 3D laser-cutting machines
KUALA LUMPUR: New Hoong Fatt (NHF) Holdings Bhd plans to invest in 3D laser-cutting machines as part of its investment in plants and machinery to cater to the growing market demand……

SGX, LSE in joint bid for London Metal Exchange worth $1.57bil
HONG KONG: The Singapore Stock Exchange Ltd is tying up with London’s main bourse to make a joint bid for the London Metal Exchange, a source told Reuters on Friday, as the world’s largest metal market seeks a suitor in a deal that could be worth 1 b…..

Vote for a minimum wage across all sectors
RAISING the retirement age and implementing a minimum wage are topics that hogged the limelight this week. These issues are close to the heart of workers and hopefully many can breathe a sigh of relief soon if what are proposed are implemented. Those…..

Sime eyes E&O board seats
PETALING JAYA: Sime Darby Bhd plans to appoint two or three directors to the board of Eastern & Oriental Bhd (E&O) after the latter’s AGM that will be held today, sources said……

PNB says it’s confident of SP Setia’s management team
KUALA LUMPUR: PermodalanNasional Bhd (PNB) wants to workwith the current management of property developer SP Setia Bhd, andcontinue to deliver value to shareholders.In a statement, PNB said it hadconfidence in SP Setia’s existingmanagement team and r…..

Mixed reaction to PNB offer to acquire property developer SP Setia
PETALING JAYA: Research analysts are divided on whether investors should cash out on Permodalan Nasional Bhd’s (PNB) offer to acquire property developer SP Setia Bhd’s shares at RM3.90 per share and 91 sen per warrant……

RHB Cap and OSK plan to merge
PETALING JAYA: RHB Capital Bhd and OSK Holdings Bhd have submitted applications to Bank Negara to begin talks on a possible merger of the two banking groups……

Research houses downgrade banking sector
PETALING JAYA: The weaker economic outlook, coupled with slower loan growth, margin compression and higher credit costs, has led some research houses to downgrade the local banking sector……

Axis upbeat on Penang land
PETALING JAYA: Axis REIT Managers Bhd’s recent acquisition of real estate in Seberang Prai will give it a gross yield of 11% and a net yield of 10.2%, said chief executive officer and executive director Stewart LaBrooy……

Alam Maritim wins RM32mil contracts
KUALA LUMPUR: Alam Maritim Resources Bhd has secured two contracts to provide vessels with a total value of RM32mil……

Delegation to Sweden and Italy led by Mustapa Mohamed showing results
STOCKHOLM: The trade mission led by International Trade and Industry Minister Datuk Seri Mustapa Mohamed to Sweden and Italy has bore fruit, with a few foreign companies expressing interest in investing and exploring collaborations in Malaysia……

TNB: No knowledge of break-up plan
PETALING JAYA: Tenaga Nasional Bhd (TNB) said it has no knowledge of any plan to break-up the power company into three units to reform the energy sector……

Petronas power play
PETALING JAYA: Petroliam Nasional Bhd’s (Petronas) acquisition of a 30% stake in GMR Energy Singapore Pte Ltd is part of the state firm’s growth strategy under its gas and power business……

Maybank sees 10% to 12% loan growth
KUALA LUMPUR: Malayan Banking Bhd (Maybank) sees its loan growth at 10% to 12% for the six months ending Dec 31, boosted by the corporate segment, said chief executive officer Datuk Seri Abdul Wahid Omar……

UBS interim chief seeks less risky future
ZURICH: UBS AG interim chief executive Sergio Ermotti appealed to staff in an internal memo to back efforts to make the bank less complex and risky, following a US$2.3bil loss from unauthorised trading.       …..

Malaysia’s RHB, OSK shares rise Friday on planned merger talks
KUALA LUMPUR, Sept 30 (Reuters) – Shares in Malaysia’s RHB Capital Berhad and OSK Holdings Berhad rose on Friday after the companies said they had asked for central bank approval to start merger talks……

Asian equities steady Friday after rise
HONG KONG (Reuters) – Asian stocks steadied on Friday with big gains unlikely as investors looked to take profits after three days of gains, while the euro held its tiny increase following Germany’s approval to expand the euro zone bailout fund……

Experts share their views on 5-star markets
PETALING JAYA: For Fundsupermart, value investing lies behind every investment recommendation that’s made……

String of Chinese entrepreneurs gone into hiding to avoid repaying loans
BEIJING: A string of Chinese entrepreneurs have gone into hiding to avoid repaying loans, according to state media reports, highlighting a credit squeeze on private firms and the dangers of steep interest rates in China’s vast and growing informal le…..

Gloomy outlook for US
NEW YORK: The heads of two of the world’s most powerful private equity firms have issued a dire report on the US economy, signalling problems for political leaders and their own firms’ ability to realise profit on their portfolios……

Allianz, AXA to bid for HSBC unit
HONG KONG: European insurers Allianz and AXA SA are among the potential bidders for HSBC Holdings Plc’s sale of its general insurance business, which could fetch more than US$1bil, sources familiar with the matter told Reuters .       …..

Spain pulls lottery offering
MADRID: Spain’s ruling Socialists abruptly cancelled plans to boost state finances by selling part of the lucrative state lottery for up to nine billion euros (US$12.2bil), under pressure from the centre-right opposition……

Japan factory output disappoints
TOKYO (Reuters) – Japanese factory output rose less than expected in August, in a sign that companies were feeling the pinch from a strong yen and faltering global demand and the economy’s swift rebound from the March 11 earthquake and tsunami was ta…..

Dow, S&P rise in wild day, Nasdaq takes China hit
NEW YORK (Reuters) – Stocks mostly rose in a volatile session on Thursday as stronger-than-expected economic data and German approval of a beefed-up euro-zone crisis fund relieved two of the worst fears hanging over the market……

Poll: Global stocks recovery next year from nightmarish 2011
LONDON (Reuters) – World stock markets will recover next year from a nightmarish 2011 that has wiped trillions of dollars off share prices, according to a Reuters poll that showed almost all major stock indexes ending 2011 in the red……

Apotheker’s exit payout dwarfs HP’s new CEO
NEW YORK (Reuters) – Hewlett Packard Co will pay ousted CEO Leo Apotheker nearly $10 million in severance and bonuses and let him keep 156,000 restricted shares, a hefty payout for an 11-month term that saw HP’s share price dive 45 percent……

Investors should oppose Murdochs on News Corp board: fund group
MELBOURNE (Reuters) – An Australian pension fund group has called on its members to vote to remove several News Corporation board members, including James and Lachlan Murdoch, in order to ensure the independence of the board……

US September auto sales seen up 9%
DETROIT (Reuters) – September U.S. auto sales are seen rising to their highest since April when the earthquake in Japan began to impact inventory and demand, but a weak economic outlook will curb the pace of the industry’s recovery in the coming mont…..

Analysis: Bernanke leaves investors mulling QE3 odds
NEW YORK (Reuters) – Ben Bernanke put markets on notice this week: Despite already having spent trillions of dollars to stimulate growth, the Federal Reserve would do more if inflation falls too far and the threat of deflation grows……

Oracle-Autonomy battle rages with HP in the wings
LONDON (Reuters) – Oracle and Autonomy escalated their war of words on Thursday, sparring publicly over whether the British software firm had ever been shopped to the U.S. technology giant……

Italy eyes asset sales worth $52 billion: Treasury
ROME (Reuters) – Italy could raise 35-40 billion euros ($47-$52 billion) from sales of real estate and other state-owned assets to cut its public debt, the Treasury said on Thursday…..

Europe again steps back from brink in debt crisis
BERLIN (Reuters) – Following a now-familiar script, Europe again averted disaster in its debt crisis when German lawmakers rallied behind Chancellor Angela Merkel to approve a stronger euro zone bailout fund on Thursday……

Lehman bankruptcy payout plan gains momentum
NEW YORK (Reuters) – With more than $140 billion worth of claimholders now supporting its proposed bankruptcy exit plan, Lehman Brothers Holdings Inc’s prospects for getting the plan approved by the end of the year are brightening……

Standard & Poor’s, Fitch downgrade New Zealand on growing debt
WELLINGTON (Reuters) – New Zealand suffered its second ratings downgrade within hours on Friday as Standard & Poor’s cut the country’s rating by one notch because of its growing foreign debt, after rival Fitch Ratings’ had taken similar action……