KLSE 

Dated 2012-02-29
More KLSE news from:
http://www.thestar.com.my

  MAS plans to strengthen cash reserves
Malaysia Airlines (MAS) is finalising a plan to strengthen its balance sheet to increase its cash reserves and funding capacity. The national carrier would unveil the plan in 60 days, Deputy Group ChiefExecutive Officer Mohammed Rashdan Yusof told a …..

  MAS suffers Q4 net loss of RM1.27b
Malaysian Airline System Bhd had a net loss of RM1.27 billion in the fourth quarter, compared with a profit a year earlier, according to a company statement today. — Bloomberg…..

Proton Q3 loss swells to RM84m
National car manufacturer Proton Holdings Bhd’s pre-tax loss widened to RM84.054 million for the third quarter ended Dec 31, 2011 compared to a pre-tax loss of RM51.535 million in the same period in 2010. In a statement, the company said the weaker p…..

Ananda Krishnan mulls sale of MEASAT
Malaysia’s second richest man Ananda Krishnan plans to sell his stake in satellite operator MEASAT Global Bhd, a move that comes days after he initiated the sale of power assets valued at US$3 billion (RM9.05 billion). The Straits Times (ST) reported…..

MMC chalks up RM1b higher pre-tax profit
MMC Corp Bhd chalked up RM1.002 billion in higher pre-tax profit for the financial year ended Dec 31, 2011 from RM555.7 million, registered in 2010. Revenue increased to RM9.337 billion compared with RM8.564 billion recordedpreviously. For the fourth…..

Sime Darby mulls listing entities in 2013
Conglomerate Sime Darby Bhd is looking at listing some of its entities next year. Group chief executive officer Datuk Mohd Bakke Salleh said the group iscurrently working on a few initiatives in sync with its plan for the listing ofthese entities. ‘T…..

Sime Darby sees challenging H2
Sime Darby Bhd sees a challenging second half for its financial year ending June 30 2012, with its third quarter expected to be affected among others by the yield trend of its fresh fruit bunches (FFB). ‘I would say that net profit of RM2.2 billion…..

Sime Darby’s Q2 profit rises to RM1.6b
Conglomerate Sime Darby Bhd posted a higher pre-tax profit at RM1.6 billion for its second quarter ended Dec 31, 2011 compared to RM1.248 billion recorded for the previous corresponding period. Revenue for the second quarter rose to RM11.389 billi…..

‘Getting facts right about Felda Global IPO’
LONDON: Stakeholders embroiled in the debate surrounding FELDA Global Ventures Holdings’ (FGVH) planned initial public offering (IPO) can find greater coherence if they get all their facts right, said FELDA chairman Tan Sri Isa Samad.To move forward…..

Malakoff inks RM6.5b financing deals
Malakoff Corporation Bhd, via its wholly-owned subsidiary Tanjung Bin Energy Issuer Bhd, has signed financing agreements worth RM6.5 billion for the development of the new 1,000 MW supercritical coal-fired power plant. The new power plant which is a…..

Ahmad Zaki swings to the black
Ahmad Zaki Resources Bhd has returned to the black after raking in a pre-tax profit of RM23.64 million for the financial year ended Dec 31, 2012 against a pre-tax loss of RM49.91 million recorded in 2010. The group recorded a higher revenue of RM533……

Buy Genting shares: HwangDBS
Genting Bhd, which controls Asia’s second-biggest gaming company by market value, said fourth- quarter profit jumped 66 per cent, with maiden revenue contributions from its New York City casino.Net income surged to RM772.9 million, or 20.94 sen a sha…..

Genting takes stake in bank advisory unit
Genting Bhd., a Malaysian casino group, has taken a 20 percent stake in a joint venture with a unit of CIMB Group Holdings Bhd. and two individuals to form an investment banking advisory company in Sri Lanka.The plan was announced by CIMB in a statem…..

Kenchana gets RM74m ExxonMobil job
Kencana HL Sdn Bhd has secured a RM74 million contract for the fabrication of Tapis R sub-structure for the Tapis Re-Development Project from ExxonMobil Exploration and Production Malaysia Inc.Under the contract, Kencana HL would undertake the procur…..

Scomi Marine hit with RM116.5m loss
Scomi Marine Bhd posted a lower pre-tax loss of RM116.47 million for the financial year (FY) ended Dec 31, 2011, from RM206.186 million previously. Revenue fell to RM390.82 million from RM409.029 million a year ago. Scomi Marine said it remains cauti…..

Scomi Engr loss widens to RM70.7m
Scomi Engineering Bhd posted a higher pre-tax loss of RM70.721 million for the financial year ended Dec 31, 2011, from RM16.65 million recorded the same period in 2010. Revenue fell to RM303.65 million, during the period under review, from RM400.785 …..

Thai AirAsia’s parent files for IPO
Asia Aviation Pcl, the parent of Thailand’s biggest budget carrier, plans to sell as many as 750 million of new shares in an initial public offering, according to the company’s regulatory filing.Major shareholders of Asia Aviation will also sell thei…..

HwangDBS keeps ‘hold’ call on UEM land
HWANGDBS Vickers Research Sdn Bhd has raised UEM Land Holdings’ earnings forecast for the 2012-2013 financial years by 32 per cent and 23 per cent, respectively, given the strong performance from property development and unbilled sales of RM1.85 bill…..

MIDF lifts target price for UEM Land
MIDF Research has raised its target price for UEM Land Holdings Bhd to RM2.50 from RM2.14 after revising upwards its earnings forecast for financial year 2012 by 22 per cent. ‘Nevertheless, we are still maintaining our neutral recommendation as based…..

PPB Group pre-tax profit falls to RM1.01b
PPB Group Bhd’s pre-tax profit for the financial year ended Dec 31, 2011 fell to RM1.01 billion from RM1.13 billion in the same period of 2010. Its revenue, however, rose to RM2.71 billion from RM2.27 billion previously,it said in a filing to Bursa M…..

Faber pre-tax profit declines to RM119.9m
Faber Group Bhd’s pre-tax profit for the financial year ended Dec 31, 2011 fell to RM119.884 million from RM129.160 million recorded the previous year. It said the lower pre-tax profit was mainly due to lower revenue fromIntegrated Facilities Managem…..

EP Manufacturing posts lower pre-tax profit
EP Manufacturing Bhd has posted a pre-tax profit of RM29.65 million for the financial year ended Dec 31, 2011, nine percent lower from RM32.47 million in 2010. Revenue slipped two per cent to RM577.14 million from RM587.52 million, the company said i…..

Kian Joo reports RM139.5m pre-tax profit
Kian Joo Can Factory Bhd’s pre-tax profit for the financial year ended Dec 31, 2011 rose to RM139.492 million from RM132.906 million in 2010. Revenue increased to RM1.086 billion from RM992.671 million. In a filing to Bursa Malaysia today, Kian Joo s…..

CCM reports lower Q4 pretax
Chemical Company of Malaysia Bhd (CCM) achieved a lower pre-tax profit of RM10.661 million for the fourth quarter ended Dec 31, 2011, from RM18.952 million in the corresponding quarter of 2010. Revenue dropped to RM402.761 million from RM459 million …..

Supermax aims for 20pc revenue growth
Supermax Corp Bhd, the world’s second largest rubber gloves maker by volume, aims to grow its revenue and net profit by 20 per cent this year, helped by an expansion in capacity and a pick-up in demand, its co-founder said. The Malaysian company,…..

Transnasional loss shrinks to RM25.8m
Konsortium Transnasional Bhd’s pre-tax loss narrowed to RM25.806 million for the financial year ended Dec 31, 2011 froma loss of RM26.044 million in 2010. It also recorded lower revenue of RM255.751 million against RM264.506 million previously. In a …..

Sunchirin suffers pre-tax loss of RM2.2m
Sunchirin Industries (Malaysia) Bhd has posted a pre-tax loss of RM2.166 million in the fourth quarter ended Dec 31, 2011 as against a pre-tax profit of RM5.812 million in the corresponding quarter of 2010. Its revenue declined marginally to RM38.106…..
  K-Star slides on Q4 net loss
K-Star Sports Ltd, a China-based maker of sports footwear, slid 8.6 percent to 26.5 sen, on course for its largest loss since Aug. 22. It reported fourth-quarter net loss of RM9.3 million in Kuala Lumpur trading at 9.31am, compared with a net income …..

  Tradewinds falls on Q4 income decline
Tradewinds (Malaysia) Bhd, an oil palm planter, fell 1 percent to RM10 in Kuala Lumpur trading at 9.31am, headed for its lowest close since Feb. 2. Fourth-quarter net income dropped 37 percent from a year earlier to RM121.5 million, the company said …..

TSM Global surges on takeover offer
TSM Global Bhd, an auto-parts manufacturer, surged 7.1 percent to RM1.20 in Kuala Lumpur trading at 9.31am, set for its steepest increase since Feb. 15. The company received a takeover offer from West River Capital Sdn Bhd for RM159.2 million or RM1……

‘Parkson results no effect on rating for now’
Parkson Retail Group Ltd’s financial results for 2011, which is in line with market expectation, will not have any immediate impact on the company’s Ba1 corporate family rating, says Moody’s Investors Service. However, Moody said the ratings outlook …..

Knusford to acquire land for RM14.2m
Knusford Bhd’s wholly-owned subsidiary, Lakaran Cahaya Sdn Bhd, will acquire 5.39 hectares of freehold land in Semenyih for RM14.21 million from Idealpalm Ventures Sdn Bhd. In a filing to Bursa Malaysia today, it said the land was located adjacentto …..

Encorp rises on Cherating resort job
Encorp Bhd, a property developer, advanced 3.9 percent to 80 sen in Kuala Lumpur trading at 9.31am, bound for its steepest increase since Feb. 21. The company will develop a golf resort in Cherating on the east coast, according to a government statem…..

Malaysia Feb palm exports down 10.5pc: ITS
Malaysian palm oil product exports in February fell 10.5 per cent to 1,177,262 tonnes from 1,315,323 tonnes shipped in January, cargo surveyor Intertek Testing Services said today. – Bernama…..

KL shares close higher
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur.The FTSE Bursa Malaysia KLCI Index rose 0.8 per cent to 1,569.65, its highest close since July 15…..

Dow rallies to close above 13,000
NEW YORK: The blue-chip Dow Jones Industrial Average closed Tuesday above 13,000 for the first time since the financial crisis five years ago, as stocks rallied despite a mixed bag of economic news.The Dow, which had been testing the 13,000 level in …..

FBM KLCI ends Wednesday higher
—…..

Billionaire Ananda Krishnan plans to sell satellite firm Measat-report
SINGAPORE: Malaysian tycoon Ananda Krishnan plans to sell his stake in satellite operator Measat Global as part of asset sales that could raise around $3.5 billion, Singapore’s Straits Times newspaper reported on Wednesday, citing a banking sources……

Saudi firm keen on billionaire Ananda Krishnan’s power assets
DUBAI: Saudi water and power project developer Acwa Power is “very keen” to buy power assets worth over US$3bil (RM9.08bil) on sale by tycoon Ananda Krishnan, the company’s chief financial officer (CFO) said……

Dow closes above 13,000 for first time in 4 years
NEW YORK: The Dow closed above 13,000 for the first time since May 2008 on Tuesday and the S&P 500 also hit a milestone, as buoyant U.S. consumer confidence data and a sharp drop in oil prices nudged the nearly five-month rally forward……

AAX to axe Christchurch route next?
PETALING JAYA: After announcing its withdrawal from popular European and Indian cities earlier this year, AirAsia X (AAX) is set to axe its KL-Christchurch-KL route, according to a source……

Genting enters banking sector
PETALING JAYA: In its maiden foray into the financial sector, Genting Bhd has joined CIMB Group Holdings Bhd and two individuals as shareholders of an investment banking advisory outfit in Sri Lanka……

Search grows for former SJAM head
PETALING JAYA: The search for Tan Whai Oon, the one-time head of now defunct SJ Asset Management Sdn Bhd (SJAM), is heating up with a warrant of arrest issued for him, after auditors chasing paper trails from Kuala Lumpur to Hong Kong and Vietnam fou…..

Special audit for Silver Bird
PETALING JAYA: There will soon be a special audit of Silver Bird Group Bhd. It is learnt that the board of directors has appointed a firm with expertise in forensic accounting to review certain transactions and operations of the bread and confectione…..

McDonald’s plans to expand franchising in China
SHANGHAI: McDonald’s Corp, the world’s biggest hamburger chain, says it plans to increase the number of franchised stores in China as it ramps up expansion in one of the world’s fastest-growing consumer markets.        …..

Oriental says no plan to privatise
PETALING JAYA: Oriental Holdings Bhd says it has no intention to go for a privatisation or undergo a leadership change at this moment……

Clarification
We refer to the StarBiz article yesterday titled Zeti: GDP set to grow 5%. …..

TNB to shine in Q2
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is expected to perform better in the current second quarter ending today, thanks to higher average gas supply from Petroliam Nasional Bhd (Petronas) as well as the RM2bil compensation as part of fuel cost-shari…..

Main shareholders offer to buy TSM ops
PETALING JAYA: The main shareholders of TSM Global Bhd, who own a 28.07% stake in the company, have offered to acquire all of the automotive parts manufacturer’s business and undertaking for RM159.2mil cash, which works out to RM1.25 per share……

Overcapacity, falling rates hit Maybulk Q4 net profit
KUALA LUMPUR: Malaysian Bulk Carriers Bhd’s (Maybulk) net profit for the fourth quarter ended Dec 31, 2011 slumped 75.6% to RM16.4mil against the previous corresponding quarter……

RHB Cap posts lower profit on higher loan impairment
PETALING JAYA: RHB Capital Bhd (RHB Cap)’s net profit for the fourth quarter (4Q) of its financial year ended Dec 31, 2011 (FY11), fell 8.35% to RM348.4mil from RM380.1mil in the previous corresponding period……

Record performance from Mah Sing in 2011
PETALING JAYA: Property developer Mah Sing Group Bhd wrapped up its financial year 2011 (FY2011) with new record highs for revenue, profit and sales, after posting a strong set of results in its fourth quarter (Q4) ended Dec 31 2011……

Celcom to check decline in voice revenue
KUALA LUMPUR: Celcom Axiata Bhd will continue efforts to arrest the drop in voice revenues, which is suffering an industry-wide decline due to the increasingly higher take-up of data services consumed through smartphones and tablets……

QSR profit up on Pizza Hut but KFCH’s down on start-up costs
PETALING JAYA: QSR Brands Bhd achieved a 10% increase in net profit to RM38.7mil for its fourth quarter ended Dec 31, 2011 compared with RM35.3mil a year ago……

Opportune time to secure financing deals
A FEW months back, Malaysian banks were already talking of the talent pool available with the pulling back of European banks in the region……

Maybank mortgage segment drive to fuel competition
PETALING JAYA: Malayan Banking Bhd’s (Maybank) move to expand market share in the mortgage segment will undoubtedly lead to more competition among banks in the mortgage space……

LPI eyes 10% premium rise
KUALA LUMPUR: LPI Capital Bhd is targeting a 10% increase in gross premium to RM1bil this year, to be driven by property insurance for infrastructure projects under the Economic Transformation Programme (ETP)……

Energy Commission evaluating bids for Prai project
KUALA LUMPUR: The Energy Commission (EC) is in the process of evaluating and shortlisting 18 consortia and sole bidders for the Prai combined-cycle gas turbine power project……

Survey: UK 2012 oil and gas capital spend to hit record
LONDON: Investment in UK oil and gas production is expected to increase by 35% this year but output will remain roughly the same, industry body Oil & Gas UK said……

Emkay banking on RM3.8bil Cyberjaya project
CYBERJAYA: Property developer Emkay Group is embarking on a five-year plan to further develop mixed property projects in Cyberjaya……

New residential site for S’pore
SINGAPORE: One of the largest residential sites in Grange Road could hit the market if talks between home owners and the US embassy are successful……

Residents upset over payout
SINGAPORE: A group of residents off Marymount Road are upset over the way their houses are being acquired to build the North-South Expressway……

US housing woes slowing recovery
WASHINGTON: The struggling US housing market is a “significant drag” on the overall economic recovery, Federal Reserve governor Elizabeth Duke told Congress in testimony obtained by Reuters ……

Slow India Q4 growth expected
BANGALORE: India’s economy likely grew at its slowest pace in more than two years during the final months of 2011 as high interest rates and booming input costs hampered manufacturing activity, according to a Reuters poll.       …..

GM in talks on small Peugeot stake
PARIS: General Motors Co is in advanced discussions to buy a small stake in French automaker PSA Peugeot Citroen as part of their proposed strategic alliance in Europe and elsewhere, sources familiar with the situation said……

Pause in Greek bonds as collateral
FRANKFURT: The European Central Bank (ECB) said it was temporarily suspending the eligibility of Greek bonds for use as collateral in its funding operations and that national central banks would have to provide banks with liquidity using an emergency…..

Europe’s empty fiscal compact
THE driving force of Europe’s economic policy is the “European project” of political integration. That goal is reflected in the European Union’s current focus on creating a “fiscal compact,” which would constitutionalise member states’ commitment to …..

Boeing delivers biggest 747 to secret VIP buyer
SEATTLE (Reuters) – Boeing Co handed over the first passenger version of its upgraded and extended 747 to a secret VIP customer, who sent the gleaming, all-white plane along to a modification center to transform it into the “”jewel of the sky.”"…..

ECB offers banks second, maybe last, mega funds fix
FRANKFURT (Reuters) – The European Central Bank is expected to pump half a trillion euros into the euro zone’s troubled financial system for the second time in as many months Wednesday in what it hopes will be the last such operation to fight the eur…..

DreamWorks profit takes a tumble; shares fall
REUTERS – DreamWorks Animation SKG Inc’s profit plunged 71 percent, as the “”Shrek”" spinoff “”Puss In Boots”" failed to match up to the box office magic of the green ogre, sending its shares down 8 percent in extended trade……

JPMorgan aims to use size to lift profit by 25%
NEW YORK (Reuters) – JPMorgan Chase & Co plans to use size to its advantage, leveraging its various components to boost annual earnings more than 25 percent over time, bank executives said on Tuesday……

Durable goods sink most in 3 years in January
NEW YORK (Reuters) – New orders for U.S. manufactured goods fell in January by the most in three years as demand fell across the board from machinery to aircraft, suggesting the economy started the year on weaker footing than expected……

Moody’s must face whistleblower analyst’s claim
NEW YORK (Reuters) – Moody’s Investors Service was ordered to defend against a lawsuit by a whistleblowing former analyst who claimed it illegally retaliated against him for questioning its ratings practices for risky mortgage debt……

Greece cuts minimum wage as austerity drive begins
ATHENS (Reuters) – Greece approved bitter new austerity measures on Tuesday, slashing the minimum wage and chopping pensions as Athens began implementing measures demanded by international lenders in return for a 130 billion euro (111 billion pound) …..

Twitter expands mobile advertising
NEW YORK REUTERS – Twitter will expand its advertising program for the Apple Inc iPhone and Google Inc Android devices, hoping to better tap into its growing mobile user base and ramp up revenue……

Ssangyong Motor says to invest $263mil in new vehicles
SEOUL (Reuters) – Ssangyong Motor Co, in which India’s Mahindra & Mahindra Ltd is a majority shareholder, said on Wednesday that it planned to invest 295.8 billion won to develop premium small crossover utility vehicles (CUVs)……

Vietnam Feb industrial production jumps 22.1% on yr
HANOI, Feb 29 (Reuters) Vietnam’s index of industrial production for February jumped an estimated 22.1 percent from the same month last year, after an annual fall of 2.4 percent last month, the Planning and Investment Ministry said……

Brent rises above $122 as ECB’s cheap loan may spur buying
SINGAPORE, Feb 29 (Reuters) Brent crude rose above $122 on Wednesday, snapping two days of losses, in line with gains across broader financial markets on expectations that cheap loans to be offered by the European Central Bank will spur buying of ris…..

Elpida bankruptcy hits shares of Taiwan affiliates
TAIPEI, Feb 29 (Reuters) Shares in Taiwan chipmakers connected to Elpida Memory Inc tumbled on Wednesday after the Japanese company filed for bankruptcy protection, although shares in rival chipmakers rose on optimism they would benefit from the loss…..

BOJ’s Kamezaki warns Europe debt woes hold lessons for Japan
FUKUOKA, Japan, Feb 29 (Reuters) Japan needs to learn from Europe and act steadily to restore its fiscal health to avoid a sudden spike in bond yields, a central bank policy maker said on Wednesday, calling for bolder social welfare and tax reforms t…..