KLSE 

Dated 2012-05-31
More KLSE news from:
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  Petronas posts 61.7pc profit rise in Q1
Malaysia’s state oil firm Petroliam Nasional Bhd (Petronas) posted a 61.7 per cent increase in first-quarter profit today, saying the rise was mainly due to higher margins and the company’s sale of its stake in Centrica Plc. The unlisted company …..

  Settlers get priority in FGVH listing: PM
Felda settlers will definitely get priority in the listing of Felda Global Ventures Holdings (FGVH) when over 70 per cent of the retail shares offered for public listing are allocated for the settlers, Felda staff and individuals who have contributed…..

Felda Global launches IPO prospectus
KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV), the world’s third largest oil palm operator, today launched the prospectus for its initial public offering (IPO).The company’s shares are expected to be listed on the main market of Bursa Malays…..

MBSB inks RM120m debt settlement pact
The Malaysia Building Society Bhd (MBSB) today signed a debt settlement agreement for RM120 million with Twin Pavilion Development Sdn Bhd to revive and complete the partially completed Pantai Plaza project in Bangsar.MBSB Chairman Tan Sri Abdul Hali…..

PNB to divest FEC Cables
Permodalan Nasional Bhd (PNB) has announced plans to divest its first non-core business companies, FEC Cables (M) Sdn Bhd (FEC), to qualified Bumiputera entrepreneurs. On Feb 9, 2012, Prime Minister Datuk Seri Najib Tun Razak, at the Bumiputera Agend…..

Genting Malaysia cut to ‘market perform’
RHB Research lowered its call on Genting Malaysia Bhd to ‘market perform’ from ‘outperform’, citing a shaky growth outlook for the gaming firm. In a research note on Thursday, RHB said Genting’s 1QFY12 results were below expectations with core n…..

Genting drops on 35pc profit slip
Genting Malaysia Bhd, a casino operator, dropped 3.7 per cent to RM3.70, bound for its steepest decline since Feb. 8. First-quarter profit slipped 35 per cent from a year earlier to RM270.7 million, the group said in an exchange filing. – Bloomberg…..

‘First PNB unit to be sold soon’
Permodalan Nasional Bhd (PNB) will announce the first of its five non-core companies that will be disposed of any time now, says President and Group Chief Executive Tan Sri Hamad Kama Piah Che Othman. He said PNB, on its part, had identified the f…..

Kenanga ups Telekom’s target price
Kenanga Research raised its target price for state telecoms group Telekom Malaysia Bhd to RM5.65 per share from RM5.52 after the company’s stronger-than-expected earnings results. ‘Telekom’s 1Q12 core net profit of RM183 million came in slightly …..

‘Investor confidence in Malaysia economy strong’
Investor confidence in the Malaysian economy is still strong despite concerns over the global economic slowdown and Europe’s prolonged euro zone debt crisis. Selena Ling, Oversea-Chinese Banking Corporation Ltd (OCBC Bank) Global Treasury Research an…..

SapuraKencana drops as Seadrill sells stake
SapuraKencana Petroleum Bhd, an oil and gas services provider, dropped 3.2 per cent to RM2.10, the most since May 18.Norway-listed Seadrill Ltd sold 300 million shares in SapuraKencana, reducing its stake to 6.4 per cent, Seadrill said in a statement…..

Globaltec falls 8.3pc on debut
Globaltec Formation Bhd, an auto-parts maker, fell 8.3 per cent to 11 sen on its trading debut after a merger of Jotech Holdings Bhd., AutoV Corp. and AIC Corp. The stock was the most active on the bourse, with 126.7 million shares traded. – Bloomber…..

Results: Maxis Q1 profit climbs
# Maxis Bhd said Q1 ended March 31 net profit rose 6.1 per cent to RM572 million from RM539 million a year earlier.Revenue climbed 5 per cent to RM2.23 billion. The company said the better performance was partly due to the lower write-offs in proper…..

AMMB short name changed to ‘AMBANK’
AMMB Holdings Bhd today announced that the stock short name for the company listed on the Bursa Malaysia Main Board will be changed to ‘AMBANK’ from ‘AMMB’ effective 9 am tomorrow.AMMB Holdings said the short name for its structured warrants, namely,…..

Yeo Hiap Seng gains on privatization plans
Yeo Hiap Seng (Malaysia) Bhd, a beverage maker, gained 7.7 per cent to RM3.48, headed for its highest close since October 1997. Its parent YHS (Singapore) Pte plans to take the company private through a selective capital reduction and capital repayme…..

Land & General advances after making profit
Land and General Bhd advanced 8.1 per cent to 33.5 sen, poised for its largest gain since Oct. 24. The property developer reported fourth-quarter profit of RM24.5 million compared with a loss of RM3.2 million a year earlier, it said in an exchange fi…..

CB Industrial climbs on higher Q1 income
CB Industrial Product Holding Bhd, a farm- equipment maker, climbed 2 per cent to RM2.51.First- quarter net income rose to RM24.8 million (US$7.8 million) from 21.9 million ringgit a year earlier, the company said in a stock-exchange filing.- Bloombe…..

FBMKLCI ends 0.35pc higher
Bursa Malaysia ended mixed today despite the weaker regional markets on mounting fears that Europe’s debt crisis may affect bigger economies such as Spain and Italy, dealers said.Gains in plantations and banking stocks helped the FTSE Bursa Malaysia …..

US stocks slump on Span fears
NEW YORK: US stocks dived Wednesday in the wake of European and Asian losses on rising investor worries about Spain’s weak banks.The yield on the US Treasury’s 10-year bond hit an all-time record low and the dollar reached a nearly two-year high agai…..

PNB to divest FEC Cables
Permodalan Nasional Bhd (PNB) has invited qualified Bumiputera entrepreneurs to acquire its 71.14% owned FEC Cables (M) Sdn Bhd under its divestment programme……

ECB, EU officials warn Euro’s survival at risk
BRUSSELS: The European Central Bank stepped up pressure on Thursday for a joint fund to guarantee bank deposits in the euro zone, saying Europe needed new tools to fight bank runs as the bloc’s debt crisis drives investors to flee risk……

Global markets – Euro fears spur fresh demand for safe assets
LONDON: Demand for safe-haven assets kept German and U.S. Treasury debt yields near record lows on Thursday, as worries over Spain and its troubled banks kept markets nervous, although shares and the euro regained some stability……

Bina Darulaman gets RM40m sub-contract for 2nd Penang Bridge
Bina Darulaman Bhd’s unit has secured a RM40mil sub-contract for part of the Second Penand Bridge project……

Maxis Q1 net profit up 6.1% to RM572m (Update)
Maxis Bhd’s earnings rose 6.1% to RM572mil in the first quarter ended March 31, 2012 from RM539mil a year ago, underpinned by its non-voice revenue from its mobile services……

Petronas Q1 net profit up 61.7% to RM20.7b
Petroliam Nasional Bhd’s (Petronas) earnings rose 61.7% to RM20.7bil in the first quarter ended March 31, 2012 from RM12.8bil a year ago on higher oil prices and stronger ringgit……
  PNB to announce first non-core company to be disposed of soon
Permodalan Nasional Bhd (PNB) will announce the first of its five non-core companies that will be disposed of any time now, says president and group CEO Tan Sri Hamad Kama Piah Che Othman……

  Public Mutual declares RM493m in distributions for 7 funds
Public Mutual Bhd declared distributions of more than RM493mil for seven funds for the financial year ended May 31, 2012……

Federal Reserve’s Bullard says more quantitative easing unlikely for now
TOKYO: The Federal Reserve could resort to more quantitative easing if the economy deteriorates, but this situation is unlikely as it is on track for a moderate recovery, an official of the central bank said on Thursday……

Wah Seong Q1 earnings down 58.9% to RM17.78m
Wah Seong Corporation Bhd’s earnings fell 58.9% to RM17.78mil in the first quarter ended March 31, 2012 from RM43.37mil a year ago due a weaker performance by its oil and gas segment……

Investor confidence in Malaysia’s economy still strong, says OCBC Research
Investor confidence in the Malaysian economy is still strong despite concerns over the global economic slowdown and Europe’s prolonged euro zone debt crisis……

Moody’s negative on outlook of global shipping industry
Moody’s Investors Service is downbeat on the outlook for the global shipping industry as sustained oversupply of vessels and high bunker oil prices will pressure margins in most shipping segments in 2012……

KPJ Healthcare Q1 net profit up 21% to RM33.3m
KPJ Healthcare Bhd’s earnings rose 21.2% to RM33.33mil in the first quarter ended March 31, 2012 from RM27.51mil a year ago……

Masteel Q1 net loss RM4.88m on lower selling price
Malaysia Steel Works (KL) Bhd posted net loss of RM4.88mil in the first quarter ended March 31, 2012 due to lower selling price in contrast to net profit of RM6.19mil a year ago……

Markets slip on euro zone woes, KLCI steady
Key regional markets were in the red on Thursday, posting losess of up to 1.45%, on a growing rift over how the Europe debt crisis should be resolved……

Yeo Hiap Seng hit highest since 1997 on privatisation
Shares of Yeo Hiap Seng (Malaysia) Bhd surged to the highest since 1997 at RM3.51 after its major shreholder Yeoh Hiap Seng (Singapore) Pte Ltd proposed to take it private at RM3.60 cash a share……

Spain debt woes spur flight out of risk assets to US bonds, dlr
TOKYO: Shares and commodities slid while the euro fell to its lowest in almost two years against the dollar on Thursday, as surging borrowing costs in troubled Spain heightened fears that it would not be able to rescue its banks and may have to seek …..

CIMB Research maintains Outperform on Genting
CIMB Equities Research said Genting Bhd’s earnings in the first quarter ended March 31, 2012 was at 20% of its full-year forecast and 21% of consensus……

Graff pulls Hong Kong IPO, latest victim of weak markets
HONG KONG: London luxury jeweller Graff Diamonds has pulled its planned $1 billion Hong Kong initial public offering, the fourth major IPO to be called off in Asia this week, as tumbling stock markets threaten to claim yet more casualties in the reg…..

Felda Global Ventures’s retail offering at RM4.55 a share (Update)
Felda Global Ventures Holdings Bhd’s (FVGH) initial public offering (IPO) of 2.188 billion shares would raise nearly RM10bil based on an indicative retail price of RM4.55 a share……

Europe’s deepening crisis drags Wall Street lower
NEW YORK: Stocks tumbled on Wednesday as surging bond yields in Spain and Italy ratcheted up tensions in financial markets about Europe’s ability to solve its growing debt crisis……

KLCI down in early trade
Blue chips fell in early trade on Thursday as sentiment was impacted by the overnight fall on Wall Street on worries about the deepening eurozone crisis……

Astro unveils On-The-Go
KUALA LUMPUR: Astro Malaysia Holdings Sdn Bhd is targeting to penetrate 65% of households in Malaysia with its new service, Astro On-The-Go, which delivers non-stop entertainment on smartphones, tablets and laptops……

Oil palm biomass being sent from M’sia to Italy to be made into industrial sugar
PETALING JAYA: MYBiomass Sdn Bhd, a joint venture between the Malaysian Industry-Government Group for High Technology (MIGHT), Felda Global Ventures Holdings (FGVH) and Sime Darby Bhd, has dispatched its first oil palm biomass shipment for testing……

Longer stay or PR for foreign talent is boon to Malaysia
IT was a moment during a question and answer session at Invest Malaysia that became a talking point among the participants. A foreigner stood up and told the Prime Minister that he has been in Malaysia for five years and is happy in the country……

Perodua studying making sedan cars
KUALA LUMPUR:Perodua is studying the possibility of producing sedan cars in the near future, managing director Datuk Aminar Rashid Salleh said yesterday……

Malaysia moves up to 14th most competitive economy in the world
KUALA LUMPUR: Malaysia has moved up two spots from 16th to 14th most competitive economy in the world in the Institute for Management Development’s (IMD) World Competitiveness Yearbook (WCY) 2012 survey……

RM8bil sukuk for KVMRT
Kuala Lumpur: Danainfra Nasional Bhd, a wholly-owned subsidiary of Minister of Finance Incorporated, will issue RM8bil worth of government-guaranteed sukuk to partly finance the Klang Valley Mass Rapid Transit (KVMRT) project……

Supermax to strengthen operations in the US
PETALING JAYA: Supermax Corp Bhd has allocated US$8.5mil to build phase one of its national distribution headquarters in Chicago to strengthen business operations in the United States……

WCT submits bids to boost recurring income
KUALA LUMPUR: WCT Bhd has submitted bids for local public infrastructure related concessionaires as part of its strategy to beef up its investment and management division and boost long-term recurring income……

Fruitful meet at Invest Malaysia
AS expected, this year’s Invest Malaysia drew a large crowd of investors, analysts and fund managers although it is likely that previous similar events had drawn larger crowds, according to observers……

Clarification
WITH reference to the article in StarBiz titled “RHB pays RM2b for OSK IB” on Tuesday, it has been pointed out that the transactions RHB and OSK’s investment banks had closed together were a rights issue for Otto Marine Ltd and a …..

Bursa sees fewer IPOs this year
KUALA LUMPUR: The number of initial public offerings (IPOs) on Bursa Malaysia will be fewer than last year in line with the regional trend due to global economic conditions……

IPO conditions are to create genuine players
KUALA LUMPUR: The conditions set for bumiputra shareholders in the coming initial public offering (IPO) of Integrated Healthcare Holding (IHH) are meant to create genuine players in the capital-intensive healthcare industry, according to a prominent …..

Tajuddin on benefits of linking Asean stock exchanges in a single platform
KUALA LUMPUR: The benefits of linking up Asean stock exchanges in a single platform will outweigh its challenges, according to Bursa Malaysia chief executive officer Datuk Tajuddin Atan……

Nomura upgrades Malaysia’s banking, construction and gaming sectors to ‘bullish’
PETALING JAYA: Nomura Equity Research has upgraded Malaysia’s banking, construction and gaming sectors to “bullish”, saying that their earnings have bottomed out, while election risks have largely been factored into stocks……

Felda Global Ventures gets Qatar Holding as cornerstone investor
KUALA LUMPUR: Qatar Holding LLC, a unit of the Gulf nation’s sovereign wealth fund, has agreed to take part in the planned US$3bil listing of Felda Global Ventures Holdings Bhd as a cornerstone investor, a source with direct knowledge of the deal tol…..

Pestech targeting high-value projects
PETALING JAYA: Integrated electric power technology provider Pestech International Bhd made its debut at 91 sen on the Main Market of Bursa Malaysia, a nine-sen discount over its RM1 initial public offering price (IPO), with 5.09 million shares trade…..

DRB-Hicom can tackle issues easily
DRB-HICOM has partially consolidated Proton Holdings Bhd’s earnings in the fourth quarter of 2012 after acquiring a 50.01% stake in Proton on March 16. DRB-Hicom incurred higher net finance expenses in the fourth quarter due to loans to complete the …..

Healthy 6.8% rise in Sime Q3 net profit
KUALA LUMPUR: Sime Darby Bhd’s third quarter ended March 31 net profit increased 6.8% to RM876mil on the back of a 8.8% increase in revenue to RM11.03bil compared with the previous corresponding period on better results from the plantation, industria…..

TM’s Q1 net profit rises on growth across key products
KUALA LUMPUR: Telekom Malaysia Bhd’s (TM’s) year-on-year (y-o-y) first quarter net profit for the period ended March 31 surged 53.5% to RM250.63mil from RM163.31mil on the back of revenues rising by 11% to RM2.38bil……

Carlsberg Q1 earnings, revenue up on CNY campaign
PETALING JAYA: Carlsberg Brewery Malaysia Bhd net profit in its first quarter to March grew 6.98% to RM52.36mil from RM48.94mil a year earlier while revenue rose 11.5% to RM454.05mil from RM407.22mil on the back of a successful Chinese New Year campa…..

IOI earnings down 16% to RM552mil
PETALING JAYA: IOI Corp Bhd’s earnings fell 15.9% to RM551.96mil in the third quarter ended March 31 from RM656.71mil a year ago as most operating units reported a decline……

MMC Q1 net profit up 62% to RM29mil
PETALING JAYA: MMC Corp Bhd’s net profit surged 62.12% in its first quarter ended March 31 to RM29.22mil from RM18.03mil in the same period last year against a 7.94% increase in revenue to RM2.32bil from RM2.15bil……

Genting posts lower net profit to RM694mil
KUALA LUMPUR: Genting Bhd recorded a lower year-on-year (yoy) quarterly net profit for its first quarter ended March 31 to RM693.63mil from RM824.18mil on the back of revenues also declining to RM4.42bil from RM4.89bil respectively……

RM48bil gross development value for SIC project
PETALING JAYA: GuocoLand (M) Bhd, the property arm of Hong Leong Group, will be developing the Sepang International City (SIC) with a gross development value of RM48bil……

Mah scouting for additional land with potential GDV of RM1.4bil
KUALA LUMPUR: Mah Sing Group Bhd is aiming to acquire additional land with a potential gross development value (GDV) of RM1.4bil this year……

Bakun power sold
KUCHING: Sarawak Energy Bhd (SEB) says it has secured sales for most of the electricity output from the Bakun hydro dam from companies in the Sarawak Corridor of Renewable Energy (Score)……

Opportunities await local firms in renewable energy
KUALA LUMPUR: Opportunities are abound in the renewable energy sector but local players need to understand the market and act fast to enjoy the rewards on foreign shores, said Khazanah Nasional Bhd investments executive director Shahazwan Harris said…..

Petra Energy to triple capex to RM32mil this year
KUALA LUMPUR: Integrated oil and gas services provider, Petra Energy Bhd, will more than triple its capital expenditure to RM32mil this year to enhance services……

New Islamic monetary tool
KUALA LUMPUR: Bank Negara introduced a new Islamic monetary instrument, called the collateralised murabahah, a syariah-compliant financing secured by assets where the financier has the right to sell the asset should the client fail to repay the finan…..

Amway invest RM5mil to convert remaining distribution centres into shops
PETALING JAYA: Amway (M) Holdings Bhd is allocating RM5mil as capital expenditure for the next three years to upgrade and convert its remaining regional distribution centres (RDCs) into Amway shops……

European, US firms hoard US$1.2tril cash
LONDON: Elite companies in Europe and the United States are hoarding US$1.2 trillion of cash on their balance sheets, potentially missing opportunities to cut debt, reward faithful investors or accelerate their growth, a survey showed……

Facebook faces extended US review of Instagram deal
WASHINGTON: Facebook has received notice that US antitrust regulators will give its proposed purchase of the popular photosharing app-maker Instagram a lengthy investigation, an industry source said……

Indonesia president warns of Europe impact on Asia
JAKARTA: Indonesian President Susilo Bambang Yudhoyono said Europe’s economic woes could hit South-East Asia and warned the region against copying the integrated eurozone model, in comments printed yesterday……

Olympus to cut 2,500 jobs, sell equity stake
TOKYO: Japan’s Olympus Corp, hit by a US$1.7bil fraud scandal, plans to shed 2,500 workers and sell an equity stake to either Sony Corp or Panasonic Corp in a bid to bolster its finances, local media reported……