KLSE STOCK MARKET 

Dated 2012-07-31
More KLSE news from:
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  Gas Malaysia is world class: Maybank IB
KUALA LUMPUR: Gas Malaysia Bhd is ‘world class’ in efficiency and reliability, on par if not better than its regional comparables, despite operating in a near monopolistic yet limiting environment, says Maybank IB Research.Gas Malaysia, which is the …..

  George Kent wins Ampang LRT job
George Kent Bhd, a company specialising in mechanical and engineering work, has won a contract for the Ampang light rail transit (LRT)extension line project.The contract awarded by Syarikat Prasarana Negara Bhd is forengineering, procurement, const…..

Risda plans to list on Bursa
ALOR GAJAH: The Rubber Industry Smallholders Development Authority (Risda) intends to follow the footsteps of Felda Global Ventures Holdings (FGVH) for listing on Bursa Malaysia in future. Its chairman Tan Sri Rahim Tamby Chik said they were curren…..

OSK stays bullish on media sector
OSK Research Sdn Bhd remains bullish on the media sector this year due to a stream of major sporting events and the highly-anticipated general elections.In a research note today, OSK said the coming Hari Raya Aidil Fitri festive season will spur the …..

Kenanga gets nod to buy ECM Libra
The shareholders of KandN Kenanga Holdings Bhd (Kenanga Holdings) have approved the acquisition of ECM Libra Investment Bank Bhd (ECM IB) through its wholly owned subsidiary, Kenanga Investment Bank Bhd (Kenanga IB).With the acquisition, Kenanga IB i…..

KKB Eng bags RM171m steel job
KKB Engineering Bhd has been awarded with a contract for the structural steel and cladding work at the proposed Ferro Alloy Complex, Bintulu, Sarawak, worth approximately RM171 million.The contract was awarded by Pertama Ferroalloys Sdn Bhd, the empl…..

Naim Eng gets RM208m MRT job
Naim Engineering Sdn Bhd, a wholly-owned subsidiary of Naim Holdings Bhd, has confirmed its acceptance of a letter from Mass Rapid Transit Corporation Sdn Bhd as a sub-contractor for the works packages under the Klang Valley Mass Rapid Transit (MRT) …..

MIDF sees higher margin for Lafarge Malayan
KUALA LUMPUR: MIDF Research expects Lafarge Malayan Cement Bhd’s (LMC) margin to expand due to easing coal costs and higher selling price.In a note today, MIDF said the new cement price hike, effective tomorrow, was the positive surprise as it expect…..

RHB Research cuts SEGi’s fair value
RHB Research cut SEG International Bhd’s (SEGi) fair value to RM2.20 per share from RM2.25 after the education firm’s first-half earnings came in slightly below its expectations. The research house cut its 2012-2014 earnings forecast on SEGi by…..

Results: Texchem HI profit jumps
# Texchem Resources Bhd’s pre-tax profit for the six months ended June 30, 2012 rose to RM3.8 million from RM2.4 million registered in the previous corresponding period. Revenue increased to RM517.4 million from RM449.8 million previously, Texchem…..

Bandar Raya up on potential takeover offer
KUALA LUMPUR: Shares of Bandar Raya Developments Bhd (BDRB) climbed as much as 9.09 per cent after the property developer said yesterday its major shareholder was in the midst of securing financing for a potential takeover offer of BDRB shares a…..

SEGi posts higher revenue, profits
PETALING JAYA: SEG International Bhd (SEGi), the largest private education group of more than 28,000 students nationwide, achieved 16 per cent increase in revenue to RM80.187 million for its second quarter ended in June 30, 2012 from RM69.236 million…..

‘Ambang Sejati’s BDRB takeover attractive’
KUALA LUMPUR: Ambang Sehati Sdn Bhd’s plan to acquire the remaining shares of 81.5 per cent in Bandar Raya Developments Bhd (BRDB)looks attractive, says AmResearch.In a note today AmResearch said the takeover deal which involves a total consideration…..

Biosis faces unsual market activity query
KUALA LUMPUR: Biosis Group Bhd was issued an unusual market activity (UMA) query by Bursa Malaysia today, due to a sharp increase in the price and high volume of the company’s securities recently. Bursa Malaysia asked if there was any corporate d…..

DRB-Hicom gears up for regional expansion
KUALA LUMPUR: DRB-Hicom Bhd is gearing up for regional expansion with Honda and Volkswagen as its springboard, says HWANGDBS Vickers Research Sdn Bhd.In a research note today, HWANGDBS Vickers said Honda Japan’s decision to make Malaysia its regional…..

OSK retains SEGi earnings forecast
KUALA LUMPUR: OSK Research Sdn Bhd, while retaining its forecast on SEG International (SEGi) Bhd’s earnings of RM91.1 million for the current financial year and RM104.9 million for 2013, is anticipating a stronger performance for the second half of t…..

Gabungan to expand overseas cautiously
KUALA LUMPUR: Main Market debutant, Gabungan AQRS Bhd, is at a preliminary exploration stage for overseas expansion.Its managing director Ng Chun Kooi said the construction and property-based developer did not have any intention of doing so in the ne…..

HSL likely to win jobs more than RM600m
KUALA LUMPUR: Sarawak-based infrastructure developer Hock Seng Lee Bhd (HSL) is most likely to win new jobs worth more than RM600 million this year, says Maybank Investment Bank (IB) Research.It said HSL’s active tendering continued with sizeable job…..

Regency Hotels plans outlet in East Coast
ALOR SETAR: The Regency Hotels and Resorts, which operates a chain of hotels in the country, is planning to open its seventh outlet for business next year, says group executive director Mardziah Md Isa.Without identifying the exact location, he said …..

AmInvestment to launch 3 funds
KUALA LUMPUR: AmInvestment Bank Group will launch three funds, a mixture of equity and fixed income over the next six months, its Head of Institutional Unit Trust Advisors, Fund Management, Wendy Wong Huey Yen said today. Wong said the financial gro…..

KL shares wring gains at close
Bursa Malaysia ended marginally easier today after its earlier gains were pared down by losses in selected bluechips and index-linked counters, dealers said.However, the underlying FTSE Bursa Malaysia KLCI (FBM KLCI) finished 0.75 of a point higher a…..

US stocks in red ahead of Fed meet
NEW YORK: US stocks closed in the red Monday as Wall Street hoped for US Federal Reserve and European Central Bank stimulus action this week and awaited a report on the July jobs market.After two big euro-driven rallies late last week, the major indi…..

George Kent JV gets EPCC job for Ampang LRT extension
Syarikat Prasarana Negara Bhd has awarded the George Kent-Lion Pacific joint venture the contract to undertake the system works for the Ampang LRT line extension project……

Naim Holdings gets RM208m MRT contract
Naim Holdings Bhd’s unit has been awarded a RM208.15mil contract from Mass Rapid Transit Corporation Sdn Bhd for part of the Sungai Buloh-Kajang MRT project……

Mild selling of heavyweights drags KLCI into the red
Mild selling on key stocks including Telekom Malaysia, Tenaga and Petronas Gas, dragged the key FBM KLCI into the red at the close on Tuesday but the broader market was still firm, with buying seen in smaller cap stocks……

PM: ECER attracted more than RM32.7b investments
The East Coast Economic Region (ECER) attracted more than RM32.7bil of investments from 2007 until end-June of this year, the Prime Minister said……

BNM cautions public over misuse of acknowledgement letters
Bank Negara Malaysia (BNM) has cautioned the public to be wary of companies or individual misusing acknowledgement letters to solicit investments in financial schemes involving gold and other precious metals……

Most Asia FX up on more stimulus bets, head for July gains
SINGAPORE: Most emerging Asian currencies rose on Tuesday — and headed for monthly gains — as investors increased their bets that the European Central Bank and U.S. Federal Reserve would take steps to stimulate economicactivity……

KL’s RM400m River of Life projects to be ready October 2013
The 14 packages of the River Of Life (ROL) project worth RM400mil are expected to be completed by October next year……

AmInvestment to launch three funds
AmInvestment Bank Group will launch three funds, a mixture of equity and fixed income over the next six months……

BP takes $5 billion second-quarter charge for shale, other woes
LONDON: British oil company BP Plc took a $5 billion charge in its second quarter results on Tuesday – more than a typical three months worth of profits – in what was mainly a write down of the value of assets……

S&P: Double-edged sword for banks expanding regionally
Banks in Singapore, Hong Kong and Malaysia face a double-edged sword as they expand regionally over the next several years due to higher risks and changing operating conditions in regional economies, according to Standard & Poor’s Ratings Services……

Shares rise on guarded stimulus hopes from ECB, Fed
TOKYO: Asian shares rose on Tuesday on hopes for further stimulus from the European Central Bank and the U.S. Federal Reserve, both of which hold policy meetings this week, but scepticism about the long-term effectiveness of any ECB actions capped th…..
  Danajamin, RHB Bank co-guarantee Boustead unit’s RM628m bonds
Danajamin Nasional Bhd and RHB Bank Bhd are co-guaranteeing RM628mil bonds issued by Boustead Holdings Bhd’s unit Mecuro Properties Sdn Bhd……

  Regional markets mostly higher, KLCI unchanged
Key regional markets were mostly higher in the morning session on Tuesday, except for Malaysia and Singapore, on expectations that the US and European Central Bank would take steps to stimulate growth……

AmResearch maintains Hold on Bandar Raya Developments
AmResearch is maintaining its Hold recommendation on Bandar Raya Developments Bhd (BRDB) following Ambang Sehati Sdn Bhd’s takeover offer for the property company……

Biosis slips after UMA query
Shares of Biosis Group Bhd fell on Tuesday on profit taking after the company was queried by Bursa Malaysia Securities over the unusual market activity……

BRDB shares jump on Ambang Sehati takeover plan
Shares of Bandar Raya Developments Bhd (BRDB) rose to RM2.71 after its substantial shareholder Ambang Sehati Sdn Bhd would go ahead with its proposed takeover……

Gabungan AQRS opens below offer price (Update)
Gabungan AQRS Bhd made its debut on the Main Board of BursaMalaysia Securities on Tuesday at RM1.15, which was three sen below its offer price of RM1.18……

CIMB Research maintains Neutral on plantations
CIMB Equities Research is maintaining the plantations sector as a Neutral and keeps Sime Darby as its top pick……

HDBSVR sees KLCI giving up part of Monday’s gains
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Shares pause, guarded stimulus hopes from ECB, Fed
TOKYO: Asian shares paused on Tuesday as investors grew cautious ahead of monetary policy meetings by the European Central Bank and the U.S. Federal Reserve, with scepticism countering expectations for more stimulus steps to support fragile global ec…..

Manchester United sets IPO terms, hopes to raise US$333mil (Update)
NEW YORK: English soccer team Manchester United set the terms for its U.S. initial public offering on Monday saying it will offer 16.67 million shares at between $16 and $20 each, which values the club at $3.3 billion at the top of the range……

RHB Research maintains Outperform on KPJ Healthcare
RHB Research Institute is maintaining its Outperform recommendation on KPJ Healthcare but reduced the fair value to RM6.86 from RM6.92……

General Motors signs US$600mil Man United deal day after marketing executive exit
DETROIT: General Motors Co signed a sponsorship deal with Manchester United on Monday after rewording the terms negotiated with the popular English soccer club by the U.S. automaker’s ousted global marketing chief……

GLOBAL MARKETS-Worlds stocks rise on ECB, Fed hopes; euro falls
NEW YORK: Global stocks rose on Monday on expectations that the European Central Bank and the U.S. Federal Reserve will take measures to support struggling economies when they meet this week, but the euro slid against the dollar on worries that the c…..

Malaysia’s Klibor unlikely to be manipulated
PETALING JAYA: The chances of interest rates on the Kuala Lumpur Interbank Offered Rate (Klibor) being manipulated is quite remote compared with interbank offered rates in other jurisdictions as it is closely tied to the overnight policy rate (OPR) c…..

Joint study on M’sia-S’pore Rapid Transit System
JOHOR BARU: Malaysia and Singapore will make the decision on the Malaysia-Singapore Rapid Transit System (RTS) link project next year……

Don’t rest on your laurels that you are the best; it isn’t enough
TWO years ago, I would never have dreamed of trading in my trusty Nokia phone for anything else but I am one of the many who made the switch to an iPhone. The technology experts who have been riding high on the wave of Nokia’s success in the mobile p…..

Rafidah: M’sia should not be parochial on AirAsia’s decision to relocate Asean base to Jakarta
KUALA LUMPUR: Malaysians should not be parochial on AirAsia’s decision to relocate its Asean base to Jakarta as it is a move to regionalise the no-frills airline, says AirAsia X chairman Tan Sri Rafidah Aziz……

Analysts downgrade semiconductor sector
PETALING JAYA: Following several months of improvement, analysts have downgraded their view on the semiconductor sector based on weakening global economic growth, which will put the sector at risk……

Maybank optimistic of qualifying for waiver from Bank Indonesia
KUALA LUMPUR: Malayan Banking Bhd (Maybank) president and CEO Datuk Seri Abdul Wahid Omar said the bank is optimistic of keeping its current shareholding in Bank Internasional Indonesia (BII) in line with Bank Indonesia’s new shareholding requirement…..

Mideast has much to offer, Matrade tells investors
PETALING JAYA: The Malaysia External Trade Development Corp (Matrade) sees huge business potential arising in the Middle East for which Malaysian service providers can tap into……

UK seeks investments in manufacturing, healthcare sectors
KUALA LUMPUR: While the public had seen mega-investments by local parties in the UK recently, the country is hungry for more investments, particularly in the infrastructure sector……

BAE marks 5 areas for investment
LONDON: BAE Systems has identified five specific industries for investment in Malaysia – systems integration, green technology, nano technology, homeland security and electronic warfare – as part of its strategy to expand its relationship…..

Bahrain firm turns to ringgit sukuk markets
SINGAPORE: Another Gulf borrower is turning to diversify its funding sources to the ringgit sukuk market. Bahrain Mumtalakat Holding is believed to be planning roadshows in Kuala Lumpur via joint leads CIMB and Standard Chartered……

First Resources’ sukuk oversubscribed
KUALA LUMPUR: Singapore-listed palm oil producer First Resources Ltd’s inaugural ringgit-denominated sukuk issuance of RM600mil, pursuant to its RM2bil sukuk Musharakah programme, has being oversubscribed by an average of 4.6 times based on the initi…..

Franchise business growing, has been posting 20% growth
PETALING JAYA: Deputy Finance Minister Datuk Donald Lim Siang Chai has commended the homegrown franchise business’ contribution to the growth of the industry which is in line with the country’s goal to become a high-income nation……

GO imminent for Bandar Raya shares at RM2.90 each
PETALING JAYA: A general offer for property developer Bandar Raya Developments Bhd (BRDB) at RM2.90 per voting share and the corresponding indicative price of RM1.80 per warrant could be in the offing……

Banking driven to ‘neutral’
THERE is still a lack of informationfor assessing the impact of lower carduties on car prices and sales volume……

Two firms reprimanded, directors fined by Bursa
PETALING JAYA: Bursa Malaysia has publicly reprimanded two companies that have already been delisted – Baswell Resources Bhd and Ecofuture Bhd – and several of their directors, and imposed fines totalling RM270,000 on some of them, for br…..

Bank Rakyat’s H2 profit soars to RM1.06bil
KUALA LUMPUR: Bank Rakyat’s profit after tax and zakat rose to RM1.06bil for the first half-year financial period ended June 30, up 7.7% from RM980mil reported in the same period of last year.       …..

IHH gets green light to delist Turkey unit
KUALA LUMPUR: IHH Healthcare Bhd’s plan to delist its unit Acibadem Saglik Hizmetleri ve Ticaret AS (ASH) on the Istanbul Stock Exchange, has been approved by the Capital Market Boards of Turkey……

Gabungan AQRS gets RM141m job
KUALA LUMPUR: Main Market-bound Gabungan AQRS Bhd has received a letter of acceptance from the Public Works Department for a RM141mil turnkey contract……

Patimas shares suspended today
KUALA LUMPUR: Bursa Malaysia Securities Bhd has approved Patimas Computers Bhd’s request for suspension of trading of the company’s shares with effect from 9am to 5pm today……

TSH extends acquisition offer
PETALING JAYA: TSH Resources Bhd’s proposed acquisition to integrate its business with Pontian United Plantations Bhd (PUPB) has been extended from 5pm on Aug 7 till 5pm on Aug 22……

KJCF sells 60% stake in KJCPV
PETALING JAYA: Kian Joo Can Factory Bhd (KJCF) has signed a deal to dispose of its 60% shareholding in Kian Joo Canpack (Vietnam) Co Ltd (KJCPV) to its jount-venture partner Nihon Canpack Co Ltd of Japan (NCP Japan) for US$9.3mil (RM29.3mil)……

After exiting Ariantec and Metronic, Chan disposes of stake in Naim Indah
PETALING JAYA: Fresh from selling all his shares in two companies that he previously owned, Sabah-based corporate player Datuk Raymond Chan Boon Siew seems to be on the same mode again……

Support Line
K.M. Lee writes on Dufu Technology, NZN Connect and Oldtown…..

RAM upgrades UOB’s ratings
PETALING JAYA: RAM Ratings is upgrading United Overseas Bank (M) Bhd’s long-term financial institution rating to AAA from AA1 while reaffirming the short-term rating at P1 ……

Sarawak Plantation to gain RM5.7mil from land sale
PETALING JAYA: Sarawak Plantation Bhd is set to gain an estimated RM5.7mil from the proposed disposal of 65 parcels of land in Kemena Land District in Bintulu, Sarawak, for a total consideration of RM7.2mil……

Navis sells Indonesian education company for RM51mil
PETALING JAYA: Private equity firm Navis Capital Partners Ltd is selling Jakarta-based PT Efficient English Services (EES), a franchisee which provides English language training via the Wall Street Institute, to Pearson plc, a London-based publisher …..

M’sian market closes firmer
BURSA Malaysia ended firmer, in line with regional bourses, driven by continuous gains mostly seen in selected heavyweights, dealers said……

REDtone back in the black
PETALING JAYA: Data and service provider REDtone International Bhd returned to the black with a net profit of RM2.15mil for the financial year ended May 31, 2012 (FY12), compared with the RM11.72mil loss in the previous year……

Permanis sees additional RM150mil revenue from Bangi plant
PETALING JAYA: Beverage manufacturer Permanis Sdn Bhd expects to rake in an additional annual turnover RM150mil for the next few years with the launch of its RM40mil state-of-the-art bottling line in Bangi, Selangor……

Low natural rubber prices boost production of gloves
THE recent inaugural roundtable on the rubber glove industry has provided a deeper insight into the game plan of the nation’s top rubber glove players to stay competitive and still reign as the world’s largest producers of the product……

Tax-free crude palm oil quota boost
KUALA LUMPUR: Malaysia will increase shipping quotas for tax-free crude palm oil (CPO) by up to two million tonnes this year to help planters cope with an expected increase in output, sources said as the world’s No. 2 supplier struggles to maintain e…..

Spanish Q2 recession deepens
MADRID: Spain slid deeper into recession in the second quarter as a tough new round of austerity to head off the budget crisis that threatens the euro took effect both on overall demand and the price consumers have to pay for goods……

Surprise fall in Japan factory output
TOKYO: Japan’s factory output turned down unexpectedly last month, official data showed, stoking concerns that turmoil overseas is damaging a recovery in the world’s third largest economy……

HSBC’s US$2b cover Money is for cost of US probe and compensation
LONDON: HSBC’s chief executive has apologised for shameful and embarrassing mistakes made on anti-money laundering controls as the bank set aside US$2bil to cover the cost of US investigations and compensate UK customers for misselling……

RBS braces for fine in rate rigging scandal
LONDON: British bank RBS is braced to be punished over its role in the interest rate rigging scandal that has rocked the industry, acording to chief executive Stephen Hester in an interview with The Guardian newspaper……

Bafin widens scrutiny of German banks
FRANKFURT: Markets regulator Bafin has extended its scrutiny of German banks by investigating more lenders following a global interest rate rigging scandal, according to sources……

Britain sets terms for Libor review
LONDON: Britain’s government set out the terms for a revamp of a key interest rate rigged by a number of banks, including Barclays, saying that urgent reform is required……

Geithner visit to Germany sparks euro hopes
BERLIN: The top US finance official began meetings with his German counterpart and the head of the European Central Bank (ECB) yesterday, fuelling hopes Europe is readying decisive action to save the crisis-wracked eurozone……

Bank of Korea warns of weakening property loan quality
SEOUL: South Korea’s central bank warned of the weakening quality of loans backed by commercial real estate, calling for the relevant authorities to beef up supervision and pay closer attention to this issue……

Gartner: US$2.1tril will be spent on technology products, services
KUALA LUMPUR: Consumers worldwide will spend US$2.1 trillion on digital information, entertainment products and services this year, says Gartner Inc, the world’s leading information technology research and advisory company……

Apple, Samsung patent trial starts with jury selection
SAN JOSE, California{ A Google employee, at least five patent owners and plenty of iPhone and iPad consumers were among the potential jurors summoned to court on Monday in a high-stakes U.S. patent battle between Apple Inc and Samsung Electronics Co …..

Mailers fret over US post’s looming US$5.5bil payment default
WASHINGTON: Mail industry companies are concerned about a looming default by the U.S. Postal Service on a US$5.5 billion payment for future retiree health benefits, saying it adds to uncertainty about agency and helps speed the movement away from tra…..

Interim Yahoo CEO Ross Levinsohn leaves company
SAN FRANCISCO: Ross Levinsohn is leaving Yahoo, two weeks after the company announced he lost out on the top job to Google executive Marissa Mayer, the company said in a filing……

EU investigates ECB’s Draghi following complaint
BRUSSELS: The European Union’s internal watchdog has launched an investigation into European Central Bank President Mario Draghi following a complaint of conflict of interest, the institution’s spokeswoman said on Monday……

Carmakers stuff German market with self-sales
FRANKFURT: Europe’s largest car market is in recession, but few outside the industry would know it, thanks to a controversial sales practice that inflates official statistics and paints a flattering picture of demand……

German retail sales unexpectedly dip in June
BERLIN: German retail sales unexpectedly dipped in June on a monthly basis, dropping for a third month by 0.1 percent in real terms, preliminary data showed on Tuesday, denting hopes that private consumption will be the economy’s saving grace this ye…..

India keeps rates steady, inflation worry
MUMBAI: India’s central bank left interest rates unchanged for the second time since June, in line with expectations, while cutting its growth forecast and lifting its inflation outlook as economic conditions deteriorate……

Nikkei up for 4th day but still worst July in 5 years
TOKYO: The Nikkei average rose for a fourth day to a oneweek closing high on Tuesday, boosted by monthend buying as some fund managers tried to improve their performance this month……

Japan’s Toshiba Q1 profit jumps 178%
TOKYO: Japanese electronics conglomerate Toshiba Corp posted a betterthanexpected 178 percent rise in quarterly operating profit on Tuesday, boosted by strong overseas profits in the firm’s social infrastructure division despite sluggish chip sales……

NZ business confidence recovers, but rates on hold
WELLINGTON: New Zealand’s business confidence recovered for the first time in three months in July, a bank survey showed on Tuesday, as financial markets expected interest rates to remain at a record low level over the year because of an uncertain gl…..

M’bishi Elec promises loan to Renesas
TOKYO: Japan’s Mitsubishi Electric Corp said on Tuesday it would provide 14.5 billion yen (US$185.5 million) in loans to help prop up chipmaker Renesas Electronics Corp, which is fighting for survival against aggressive overseas rivals……

Taiwan stocks end up on global stimulus hope
TAIPEI: Taiwan stocks reversed early losses and closed at a threeweek high on Tuesday, joining a rise in regional bourses on hopes for further stimulus from the European Central Bank and the U.S. Federal Reserve at their policy meetings this week…..

Swiss National Bank reports H1 profit
ZURICH: The Swiss National Bank recorded a profit 6.5 billion Swiss francs ($6.63 billion) for the first half of 2012, helped by a valuation gain on its foreign currency ho l dings, reinforcing its ability to keep the franc capped at 1.20 per euro……