KLSE STOCK MARKET 

Dated 2012-04-30
More KLSE news from:
http://www.thestar.com.my

  Tanjung Offshore a ‘strong sell’: Analysts
Tanjung Offshore emerges as the worst performer based on analyst revisions among 12 companies in Malaysia’s energy sector, tracked by at least three analysts, data from Thomson Reuters StarMine shows, The company has an Analyst Revision score of …..

  SapuraKencana a ‘buy’, says OSK Invt
OSK Investment Bank started SapuraKencana Petroleum with a ‘buy’ call as this proposed merger between SapuraCrest Petroleum and Kencana Petroleum will attract bigger and more lucrative oil and gas projects in domestically and internationally. The…..

Daibochi cut to ‘underperform’
RHB Research downgraded Daibochi Plastic and Packaging Industry Bhd to ‘underperform’ from ‘market perform’, citing cautious industry outlook for the flexible packaging firm going forward. ‘We remain conservative on the outlook for the flexible p…..

Kencana HL, Shinryo awarded Petronas Gas job
Kencana HL Sdn Bhd, in consortium with Shinryo (M) Sdn Bhd, had signed a contract with Petronas Gas Bhd to provide engineering, procurement, construction and commissioning (EPCC) work for twoco-generation plants. The portion of the contract value for…..

Tenaga to spend RM9.7b to increase capacity
Tenaga Nasional Bhd (TNB) will spend about RM9.7 billion in the next five years to increase electricity generating capacity in Malaysia. President/CEO Datuk Seri Che Khalib Mohamad Noh said a major portion of the investment until 2017 was to build se…..

‘FBMKLCI to price in political concerns’
Maybank Investment said the benchmark stock index will continue to price in political concerns ahead of the general elections that were widely expected to be called as soon as June. Last Friday, the benchmark stock index dropped 0.8 per cent, the l…..

Ramunia jumps on RM150m Shell jobs
Ramunia Holdings Bhd, an oil and gas services provider, advanced 2.6 per cent to 40 sen. Ramunia won two contracts with an estimated total value of RM150 million from Sarawak Shell Bhd, it said in a statement. – Bernama…..

Am ARA REIT eyes RM500m Klang Valley properties
Am ARA REIT Managers Sdn Bhd, the manager of AmFIRST Real Estate Investment Trust (AmFIRST REIT), plans to buy properties worth RM500 million in the Klang Valley, following the implementationof the rights issue for the trust in July this year, said i…..

Puncak Niaga wins RM500m O&G jobs
Puncak Niaga Holdings Bhd, which ventured into the oil and gas industry last year, has managed to secure contracts worthRM500 million, said its executive chairman Tan Sri Rozali Ismail. Its involvement in the industry is via wholly-owned unit, Puncak…..

OSK jumps after BNM nod for takeover
OSK Holdings Bhd, an investment holding company advanced 3.9 per cent to RM1.62 in Kuala Lumpur trading at 9.29am, after RHB Capital Bhd obtained central bank approval to takeover the company’s investment banking unit. – Bloomberg…..

Redtone appoints new CEO
Mobile virtual network operator (MVNO) REDtone Mobile Sdn Bhd has appointed Farid Yunus as its new chief executive officer.Farid, 39, is a member of Celcom Axiata Bhd’s senior management team and has been seconded to REDtone Mobile to assist in the n…..

Ideal Sun sinks on capital reduction plan
Ideal Sun City Holdings Bhd sank 42 per cent to 3.5 sen in Kuala Lumpur trading at 9.29am. The company announced a rights offer and capital reduction to help restore its finances, it said in a statement. – Bloomberg…..

EP Mfg rises on higher Q1 net
EP Manufacturing Bhd, a maker of automotive parts, climbed 1.9 per cent to 81.5 sen. The company’s first-quarter net income rose to RM8.7 million (US$2.9 million) from RM8.6 million a year earlier, it said in a statement. – Bloomberg…..

MARC pre-tax profit rises by 18.3pc to RM9.5m
Malaysian Rating Corp Bhd’s (MARC) pre-tax profit for financial year ended Dec 31, 2011 rose by 18.3 per cent to RM9.5 million on the back of a 5.8 per cent growth in revenue to RM19.4 million. In a statement today, chairman Mohammad Abdullah said th…..

Pantech posts higher Q4 pre-tax profit of RM13.7m
Pantech Group Holdings Bhd posted a pre-tax profit of RM13.729 million for the fourth quarter ended Feb 29, 2012, up from the RM6.226 million recorded in the corresponding quarter of last year. Revenue for the three-month period also rose to RM128.45…..

Atlan records Q4 pre-tax profit of RM14.7m
Atlan Holdings Bhd recorded a pre-tax profit of RM14.70 million for the fourth quarter ended Feb 29, 2012 compared to a pre-tax loss of RM5.24 million in the corresponding quarter last year. Revenue fell to RM193.66 million from RM205.64 million pre…..

Bumi Armada slides on 10pc stake sale
Bumi Armada Bhd, an offshore oilfield services provider, slid 1.7 per cent to RM3.99 in Kuala Lumpur trading at 9.29am, after three shareholders sold 293 million shares, or a 10 per cent stake. – Bloomberg…..

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 climbed 0.2 per cent to 1,570.61. The gauge declined 1.6 per c…..

RHB Now Mobile Banking app available
KUALA LUMPUR: The RHB Now Mobile Banking app is now available on iPhone, iPad, Android and other smartphones for free. Customers who download it will be able to enjoy mobile banking services such as Account Enquiry, Bill Payment, Fund Transfer, Prep…..

MAA Assurance is now Zurich Insurance
Zurich Insurance Group renamed Malaysian Assurance Alliance Bhd (MAA Assurance) to Zurich Insurance Malaysia Bhd effective today. It changed the name following the completion of its acquisition of MAA Assurance, a Malaysian composite insurer, in Sept…..

Malaysia April palm exports up 9.4pc: ITS
SINGAPORE: Malaysian palm oil product exports during April rose 9.4 per cent to 1,349,642 tonnes from 1,233,444 tonnes shipped from March, cargo surveyor Intertek Testing Services said today……

Pantech Q4 earnings double to RM10.68m
Pantech Group Holdings Bhd’s earnings jumped 109% to RM10.68mil in the fourth quarter ended Feb 29 from RM5.11mil a year ago due mainly to better performance in the trading division……

BLD Plantations, Harrisons rewarding shareholders with dividends
BLD Plantation Bhd has recommended a final single-tier dividend of 14 sen per share for the financial year ended Dec 31, 2011……

Italian, Spanish banks load up more on government debt: ECB
Banks in Italy and Spain stuffed their coffers with government bonds last month, European Central Bank data showed on Monday, in the latest sign they have been using ultra-cheap three-year ECB funds to stock up on sovereign debt……
  KLCI closes off day’s best on late selling
The FBM KLCI closed off its day’s best on Monday on late selling of key index stocks while volume shrank below the one billion units on the eve of the Labour Day holiday……

  Kencana JV secures RM35m Petronas Gas project
Kencana Petroleum Bhd’s joint venture has secured a contract from Petronas Gas Bhd for two cogeneration plants valued at RM35mil……

Debt fears halt European stocks’ winning run
European stocks dipped early on Monday in choppy trade and halted a four-session rally, dragged down by brewing concerns over Spain’s finances……

Bumi Armada falls to near 3-month low
Bumi Armada Bhd’s share price fell to its lowest since Feb 3 on Monday after three shareholders disposed of 293 million shares or 10% stake last Friday below the market price……

Indonesia lifts crude palm oil tax to 19.5% for May
JAKARTA: Top global palm oil producer Indonesia will increase its export tax for crude palm oil ( CPO) to 19.5 percent for May from 18 percent in April due to higher international prices, a trade ministry official said on Monday……

Public Mutual declares distributions for three funds
Public Mutual has declared distributions for three of its funds for the financial year ending April 30, 2012……

AmFIRST REIT’s unitholders approve rights issue
AmFIRST Real Estate Investment Trust has received its unitholders’ approval for the proposed renouncable rights issue and a proposed increase in fund size at its EGM on Monday……

Fitch affirms Pacific & Orient Insurance’s IFS at BBB
Fitch Ratings has affirmed Pacific & Orient Insurance Co. Bhd’s Insurer Financial Strength Rating (IFS) at ‘BBB’ while the outlook is stable……

KNM proposes RM200m rights issue
KNM Group Bhd has proposed to raise funds via a rights issuance of RM200mil……

Silver Bird shareholders query management over revamp
Shareholders of Silver Bird Group Bhd queried the board of directors and management at the AGM on Monday about the proposed corporate and debt revamp scheme for creditors and shareholders……

MARC lowers ratings on Kinsteel’s RM200m debt notes, outlook negative
Malaysian Rating Corporation (MARC) has lowered its ratings on Kinsteel Bhd’s RM200mil debt notes while the outlook for the ratings was negative……

CIMB, IOI lift KLCI in thin trade
Blue chips advanced in the morning session on Monday, with CIMB and IOI Corp buoying the FBM KLCI while trading interest in RHB Cap and OSK perked up……

F&N soft drink unit invests RM18m in PET line in Sabah
Fraser & Neave Holdings Bhd is investing RM18mil in a polyethylene terephthalate (PET) production line and new infrastructure in Sabah as its caters to the potential growth for PET sparkling beverages in the state……

Ramunia’s 2.94m crossed in off-market deal
Ramunia Holdings Bhd’s 2.94 million shares were transacted in an off-market deal on Monday……

FBM KLCI stronger at mid-morning
The FBM KLCI was stronger at 10.30am, adding 0.32% or 5.05 points to 1,572.85. …..

Blue chips stage mild rebound in early trade
Blue chips stage a mild rebound in early trade on Monday, with some mild buying of Petronas Dagangan……

Maybank Research maintains Buy on Bumi Armada
Maybank Investment Bank Research is maintaining a Buy call on Bumi Armada Bhd and a RM4.88 target price……

RHB Research maintains Outperform on MPI
RHB Research Institute is maintaining its Outperform call on Malaysian Pacific Industries (MPI)……

Bursa Securities dismisses Ngiu Kee’s appeal
Bursa Malaysia Securities Bhd’s Listing Committee has resolved to dismiss the appeal by Ngui Kee Corporation (M) Bhd over the earlier rejection of its plan to regularise its financial condition under Practice Note 17 (PN17)……

HDBSVR sees technical rebound on Bursa Malaysia
Hwang DBS Vickers Research expects a mild technical rebound for Malaysian stocks on Monday……

HDBSVR optimistic about Dialog, keeps Buy, TP RM2.95
wang DBS Vickers Research is optimistic about Dialog Group Bhd’s long term prospects, as its Pengerang tank terminal capacity will almost triple to 2.8m cubic metres from 1.0 million cubic metres within three years……

GLOBAL MARKETS-Shares gain, US data leaves scope for Fed easing
Asian shares inched higher on Monday as weaker-than-expected U.S. growth data left open the possibility for more monetary stimulus from the Federal Reserve, but trading will likely be subdued with Japanese and Chinese markets closed……

Warrant poser, cash settlement calculation unfair say some
PETALING JAYA: The calculation of cash settlement for call warrants has come under the spotlight as some investors argue that the current method is unfair……

Felda Global plans selective purchases in South-East Asia and Africa
PETALING JAYA: Soon-to-be-listed Felda Global Ventures Holdings Bhd (FGVH) is planning for a bigger land bank and selective acquisitions in South-East Asia and Africa as well as selective downstream initiatives and new markets to strengthen its posit…..

Petron’s plan to acquire Esso Malaysia will only go through if minorities allow it
ONE of the more interesting buyouts of public listed companies in recent times is the deal involving Philippines-based Petron Corp and Esso Malaysia Bhd (EMB)……

Directors quitting should give proper explanation
WHEN four directors of a listed company quit in one go and cited the same vague reason for the resignations, was it a case of great minds thinking alike or of fools seldom differing? Or more likely, could it be that they were simply not too bothered …..

FBM KLCI seen to continue downtrend this week
KUALA LUMPUR:THE FBM KLCI is expected to continue its downtrend this week due to a rising solvency risk and borrowing cost in Europe amid persistent worries on the global economy growth……

OM Sarawak to invest RM1.53bil in Samalaju smelting plant
KUCHING: OM Materials (Sarawak) Sdn Bhd (OM Sarawak) has sealed an agreement with Japan’s Hanwa Co Ltd for the sales and marketing of products from its manganese and ferro silicon alloy smelting plant in Samalaju Industrial Park, Bintulu……

Pressure on bank’s net interest margin
PETALING JAYA: Net interest margin (NIM) for banks, which has been under pressure since mid-2010, is expected to come under further compression, with an analyst projecting it to hover around 2.2% this year compared with about 2.3% last year……

Ekuinas only undertakes 4 investments after vetting over 300 prospective ones
PETALING JAYA: Ekuiti Nasional Bhd (Ekuinas) has vetted more than 300 prospective investments since commencing operations and only managed to undertake four investments for the year 2011 with committed investment amounting to RM408.9mil……

Sime’s China exposure a surprise
Sime Darby Bhd …..

Bonus/Rights Issues
Bonus/Rights Issues…..

MASB issues exposure draft on management commentary
KUALA LUMPUR: The Malaysian Accounting Standards Board (MASB) has issued MASB ED 76 (Draft) Management Commentary (Guidance) for public comment……

Can the bulls gain the edge in index battle ?
NEW YORK: It will be another battleground for S&P 500 index this week. Will the bears finally give up and let the bulls have their way?…..

Japanese investors likely to take to the sidelines this week
TOKYO: JAPANESE investors are likely to take to the sidelines in the coming holiday-shortened trading week and ahead of key US economic indicators, analysts said Friday……

Investors in Britain to watch key earnings reports this week
LONDON: INVESTORS this week pore over a raft of earnings updates from blue-chip British companies including oil giant BP as well as bailed-out lenders Lloyds Banking Group and Royal Bank of Scotland……

Century Software expects boost to earnings
PETALING JAYA: Century Software Holdings Bhd (Censof) is expecting an earnings boost after it bagged two government information technology (IT) contracts……

Yahoo! ex-CEO gets US$16mil
NEW YORK: Former Yahoo! chief executive Carol Bartz has received a US$16.4mil compensation package during her last year on the job in 2011, the company said in a regulatory filing……

BMW Q1 sales 16% higher
PETALING JAYA: BMW Group Malaysia’s total vehicle sales grew 16% to 1,516 units in the first quarter ended March 31, 2012, marking a new record high for the premium car company……

Chinese tastes impact global car designs
BEIJING: As more and more Chinese buy cars, automakers say consumer tastes in the Asian nation have a growing influence on vehicle design the world over……

CPO likely to be traded lower this week
KUALA LUMPUR Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives are likely to be traded lower this week on lack of trading activities, dealers said……

Rubber market to soften this week
KUALA LUMPUR: THE Malaysian rubber market is likely to soften this week on the anticipation of an increase in rubber supply, dealers said……

Tin price expected to hover around US$22,500
KUALA LUMPUR: TIN price on the Kuala Lumpur Tin Market (KLTM) is likely to hover around US$22,500 per tonne this week, boosted by strong demand from foreign traders, dealers said……

Strong consumer demand seen despite slower economy
GEORGE TOWN: The local consumer goods sector expects a comfortable 2012, backed by product launches and new market penetration……

Combined fortunes of the 1,000 richest people in Britain up by 4.7%
LONDON: Britain’s richest people reached record levels of wealth in 2011 even as the country was slipping back towards recession, according to the annual Sunday Times Rich List……

ECB set to up the ante as eurozone fiscal compact cracks
FRANKFURT: The European Central Bank (ECB) looks set to dig its heels in this week and refuse any more easy money for governments as the political resolve to rein in deficits shows signs of crumbling, analysts say……

Apple avoiding billions in global taxes: report
NEW YORK: Gadget giant Apple is avoiding billions of dollars in taxes by setting up small offices around the world to collect and invest the company’s profits, it was reported……

S. Korea makes third bid to sell Woori
SEOUL: South Korea said it is putting its six trillion won (US$5.3bil) majority stake in the nation’s biggest financial group up for sale, its third attempt to privatise Woori Finance Holdings……