KLSE Market

Hwang ups Bumi Armada’s target price
Hwang Investment Research upped Bumi Armada’s target price to RM5.20 a share from RM5.00 previously following the oilfield services provider’s winning of a US$200m oil and gas pipelines contract in Russia. ‘We estimate the Lukoil contract wil…..

Carlsberg still ‘outperform’: RHB Res
RHB Research raised Carlsberg Brewery Malaysia’s fair value to RM11.60 per share, citing better performance of its new placement in the premium beer segment namely Asahi going forward. ‘We believe Asahi could potentially become an important b…..

MIER ups 2012 growth forecast to 4.2pc
The Malaysian Institute of Economic Research (MIER) upgraded its 2012 growth forecast from 3.7 per cent to 4.2 per cent.Malaysia’s macroeconomic indicators and Tenth Malaysia Plan spending and implementation of ETP (Economic Transformation Plan) proj…..

Carlsberg jumps after RHB raises fair value
As of the 12:30pm trading break in Kuala Lumpur, Carlsberg Brewery Malaysia Bhd added 0.7 per cent to RM10.90, poised to close at a record. The stock’s so-called fair value was raised to RM11.60 from RM10.90 at RHB Capital Bhd to reflect higher earni…..

Bumi Armada rises on Russian job
Bumi Armada Bhd, a Malaysian offshore oilfield services provider, rose to a record in Kuala Lumpur trading after winning a US$200 million contract from Russia’s OAO Lukoil.The stock advanced as much as 1.8 per cent to RM4.53, the best performer on th…..

CIMB hopes to complete stake acquisition
CIMB Group Holdings Bhd hopes to complete negotiations soon on its proposed acquisition of a stake in the Bank of Commerce belonging to San Miguel Corp, a diversified Philippines conglomerate. ‘The Philippines is a large market and this makes a go…..

Gloria Jean’s to open 7 more outlets by 2013
Wonderful Lifestyle Sdn Bhd, the master franchise partner of Gloria Jean’s Coffees in Malaysia and Brunei, aims to openanother seven outlets by year-end.Wonderful Lifestyle is a wholly-owned subsidiary of Malaysia International Franchise (MyFranchise…..

MKH gains on share issue plan
MKH Bhd, a property developer, gained 1 per cent to RM2.02 as of 12.30pm trading break, bound for its highest close since March 22. The company proposed a one-for-10 bonus share issue, it said in a stock-exchange filing. — Bloomberg…..

Rimbunan Sawit climbs, to acquire Formasi
Rimbunan Sawit Bhd, a palm oil producer, rose 0.9 per cent to RM1.13, headed for its highest close since March 2. The company agreed to pay RM35.8 million (US$12 million) for Formasi Abadi Sdn, which runs oil palm plantations in the eastern state of …..

AmInvestment Bank to launch 12 equity funds
AmInvestment Bank Group is looking to launch 12 equity funds this year to achieve the target of increasing its assets under management (AUM) to over RM35 billion by year-end from RM26.9 billion in 2011.Ng Chze How, director of retail funds (Fund Mana…..

Wijaya in talks to start logging in Indonesia
Wijaya Baru Global Bhd clarified today that it is negotiating with interested parties to start timber extraction and thereafter plant oil palm in the Papua Province in Indonesia. ‘However, the talks are in the preliminary stage and nothing has been f…..

Octagon gets nod for Sri Lanka WTE job
Octagon Consolidated Bhd’s subsidiary, Orizon Renewable Energy Pte Ltd has received approval from Sri Lanka’s Ministryof Power and Energy to undertake a waste to energy (WTE) project in Colombo. The Sri Lanka government has authorised Ceylon Electric…..

Telekom bags “Service Provider of the Year” award
Telekom Malaysia Bhd was recently awarded the ‘Service Provider of the Year’ at the 2012 Frost and Sullivan Malaysia Excellence Awards. During the awards event, held for the eighth consecutive year, the companyalso bagged the Broadband Service Provid…..

First Solar Cuts 30p jobs, shuts Malaysian plants
First Solar Inc, the largest thin-film panel maker, will cut about 30 per cent of its workforce, shutting manufacturing plants in Frankfurt, Germany and indefinitely idling four production lines in Malaysia this year because of a deteriorating Europe…..

AmBank issues 8 new put, call warrants
AmBank (M) Bhd is issuing eight new European style cash-settled structured warrants to meet investors’ demand for trading opportunities and alternative investments in the current market. In a statement, the bank said under its Put-Call Pair Programme…..

Petronas hikes Tapis price factor to record
Petroliam Nasional Bhd, Malaysia’s state oil company, increased a price-adjustment factor for its flagship Tapis crude to a record high for a second month as profits from making diesel rose.Petronas, as the Kuala Lumpur-based company is known, set th…..

Ingens appointed sole P1 modem distributor
Ingens Sdn Bhd, a leading ICT distributor in Malaysia, has been appointed as the sole distributor for Packet One Networks (Malaysia) Sdn Bhd (P1) to supply P1 4G WiMAX modems to 858 P1authorised resellers throughout Malaysia. In a statement today, In…..

Shandong to operate Leader power plant
Leader Universal Holdings Bhd’s wholly-owned subsidiary, Cambodian Energy Ltd, has entered into an operation and maintenance agreement with Shandong Licun Power Plant Technology Co Ltd. Under the agreement, Shandong Licun shall provide services for t…..

JCorp sukuk may yield less than AAA issuers
Johor Corp, an unrated Malaysian investment company, will probably pay less than AAA issuers to sell US$976 million of sukuk on local-government guarantees, according to MCIS Zurich Insurance Bhd and Bangkok Bank Bhd.Johor Corp, which defaulted on it…..

KL shares close marginally lower
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 fell 0.1 per cent to 1,596.19, its lowest close since April 9……

US stocks end on mixed note
NEW YORK: US stocks traded mixed Monday as investors weighed better-than-expected March retail sales numbers, a sharp slowdown in New York manufacturing and renewed eurozone debt tensions.The three main indexes opened with solid gains after a second …..

United Plantations’ 80% dividends per share to go ex on May 14
United Plantations Bhd’s special and final dividends totalling 80% per share for the financial year ended Dec 31, 2011, will go ex on May 14……

KLCI slips, weighed by losses in Maybank and Axiata
The Malaysian stock market, seen as a laggard compared with its regional peers in terms of performance, closed slightly lower on Tuesday, dragged by losses in Maybank and Axiata as sentiment was impacted by news from the Eurozone……

Ariantec Global unaware of spike in share price, volume
Ariantec Global Bhd, whose shares had risen in very active trade on Tuesday, was voluntarily suspended at 4.05pm for its announcement that it was unaware of the reasons for the unusual market activity (UMA)……

Asian operators give Vegas casino titans run for their money
Billionaire Sheldon Adelson, who became one of the world’s richest men by creating a casino empire in Las Vegas and Macau, is doubling down on his bets in Asia, the hottest gambling market on the planet where his Singapore operation made $1 billion t…..

S&P assigns BB+ rating to Indonesia’s US dollar bonds
Standard & Poor’s Ratings Services assigned its ‘BB+’ senior unsecured long-term foreign currency debt rating to a proposed U.S. dollar-denominated benchmark-size global unsecured bond issue by Indonesia……

Firm freezes US$1.23 bln coal-gas Australia power plant
An Australian firm has frozen development of a controversial A$1.2 billion ($1.23 billion) brown coal-gas hybrid power plant after a ruling by a tribunal effectively delayed construction, putting the future of the project in doubt……

Triumphal Associates sees 9.7% stake crossed at 60 sen each
Triumphal Associates Bhd’s 8.47 million shares were transacted in an off-market deal at 60 sen per share on Tuesday……

SAM Engineering hits fresh high at RM3.60
Share price of SAM Engineering & Equipment (M) Bhd rallied to a fresh record high of RM3.60 at midday on Tuesday since it resumed trading last Friday……

Asian markets mixed at mid-day
Concerns over foreign investment slowdown in China…..

Bumi Armada inches up on US$200mil Caspian project
Shares of Bumi Armada Bhd rose in late morning trade on Tuesday after it secured a US$200mil contract from Russia’s OAO Lukoil for a pipeline project in the Caspian Sea……

Japan says to provide US$60bil loan to IMF
TOKYO (Reuters) – Japan said on Tuesday it will provide $60 billion in loans to the International Monetary Fund, becoming the first non-European nation to commit new money to boost the fund’s firepower to contain the euro zone debt crisis……

HDBSVR: Market to be range-bound
HwangDBS Vickers Research (HDBSVR) said on Tuesday it expects the Malaysian equities market to be range-bound for the time being due to the lack of fresh market leads……

SMPC securities fall in early trade
The securities of SMPC Corporation Bhd fell in active trade when the rights shares and loan stocks were traded on Tuesday……

Asian markets mostly higher at opening
US consumer spending data boost sentiment…..

CIMB Research maintains Outperform on Bumi Armada
Record net profits forecast for financial years 2012 to 2014……

RHB Research maintains fair value for Axis REIT at RM2.80
First quarter results in line with expectations……

MIER: Business, consumer sentiment up in Q1 despite external headwinds
The Malaysian Institute of Economic Research (MIER) said the business and consumer sentiment surveys increased in Q1 2012 despite the external headwinds……

Khazanah plans RM4.64bil healthcare IPO in H2
KUALA LUMPUR: Malaysia’s state investor Khazanah Nasional Bhd is expected to list its healthcare assets in Kuala Lumpur and Singapore in the second half, a deal that could fetch US$1.5bil (RM4.64bil), two sources with direct knowledge of the de…..

EPF diversifies portfolios to raise investments in global equity and fixed income
KUALA LUMPUR: The Employees Provident Fund (EPF) announced yesterday that it will increase its investments in global equity and fixed income……

Dr Mahathir says DRB-Hicom has prerogative to decide who will helm Proton
PETALING JAYA: DRB-Hicom Bhd is entitled to choose who it wants to head Proton Holdings Bhd as it now owns the latter, said Proton adviser Tun Dr Mahathir Mohamad……

Developers waiting for tenders to redevelop EPF owned RRI land in SG.Buloh
PETALING JAYA: The race is heating up among property players gunning for a piece of the long-awaited redevelopment of the 1,215 ha Rubber Research Institute (RRI) land in Sungai Buloh, industry sources said……

KPS takes nearly a year to announce appointments to audit committee
PETALING JAYA: Selangor state government agency Kumpulan Perangsang Selangor Bhd (KPS) recently announced two appointments to its audit committee that were backdated by about a year ago……

IGB to set up and list real estate investment trust
KUALA LUMPUR: IGB Corp Bhd has proposed to establish and list a real estate investment trust (IGB REIT) on the main market of Bursa Malaysia……

V.S. Industry is ranked 32 in EMS business
PETALING JAYA: V.S. Industry Bhd (VSI) was the 32nd largest electronics manufacturing services (EMS) provider in the world by revenue for 2011, according to an annual survey compiled by Manufacturing Market Insider (MMI)……

Tan: Firms need to be relevant to the consumers
PETALING JAYA: Companies should find creative ways to appeal to consumers instead of focusing too much on meeting targets, said Astro chief operating officer Henry Tan……

Correction
With reference to BizPeople on Saturday in StarBizWeek , it had been pointed out the CEO of Uni.Asia Life is Vincent Kwo and not as published……

Projects aplenty in Kazakhstan
KUALA LUMPUR: Kazakhstan is keen to have collaboration with Malaysian companies in the country’s infrastructure development……

Samalaju port faces delay following application for court injunction to stop the project
KUCHING:The construction of interim port facilities for the proposed Samalaju deepsea port to serve Sarawak Corridor of Renewable Energy (SCORE) industries may be delayed following the application by a company for an interm court injunction to stop t…..

CIMB close to acquiring stake in San Miguel’s bank
PETALING JAYA: CIMB Group Holdings Bhd’s strategy to have a presence in every market in Asean is getting closer to being realised as the deal to acquire a nearly 60% stake in Filipino conglomerate San Miguel Corp’s Bank of Commerce (BoC) …..

Affin awaits Indonesian central bank nod
KUALA LUMPUR: Affin Holdings Bhd will patiently continue to wait for Bank Sentral Republik Indonesia (BSRI), the Indonesian central bank’s formal agreement to allow Affin to hold at least a 51% stake in PT Bank Ina Perdana……

HSBC’s Forfaiting generates RM307mil
KUALA LUMPUR: HSBC Bank Malaysia Bhd’s latest trade finance tool for exporters, Forfaiting, has generated transactions of over US$100mil (over RM307mil) in business volume as at the end of March since its introduction in late 2010……

Mastercard Worldwide sees potential growth in Malaysia
KUALA LUMPUR: Mastercard Worldwide sees further growth potential for their credit card business in Malaysia given the country’s positive attributes, said president and chief executive officer Ajay Banga.      &nbsp…..

BCorp major shareholders in ICULS proposal
KUALA LUMPUR: Berjaya Corp Bhd (BCorp) major shareholders Tan Sri Vincent Tan Chee Yioun and Rayvin Tan Yeong Sheik have proposed to the company that they will take up the remainder new irredeemable convertible unsecured loan stocks (new ICULS) and w…..

BCorp: Duo have no dealings with us
KUALA LUMPUR: Berjaya Corp Bhd (BCorp) says that Kuk Mong Kong and Chu Yen Ling have no dealings or associations with the company since the dissolution of Syntax Ltd……

Possible CSL dividend offering attracts active trading in Main Market counter
PETALING JAYA: Chinese Stationery Ltd (CSL) continued to be actively traded with its shares also making the gainers list and dealers attribute this to a possible dividend in the offing……

Proton shareholders advised to take DRB-Hicom offer
PETALING JAYA: Affin Investment Bank Bhd has advised Proton Holdings Bhd (Proton) shareholders to accept DRB-Hicom Bhd’s RM5.50 per share offer for the shares not already owned by DRB-Hicom……

FBM KLCI retreats on external factors
PETALING JAYA: In line with regional trend, the Malaysian stock market fell on Monday, as fresh concerns over Spain sovereign debt crisis, slower China growth and a decline in US consumer confidence curbed risk appetite……

TSM agrees to VGO from West River
KUALA LUMPUR: TSM Global Bhd has agreed to the proposed takeover offer from its main shareholders, West River Capital Sdn Bhd (WRC) and the joint offerors, which hold a 28.07% stake for RM1.25 per share……

Tiger Synergy MD sells shares
PETALING JAYA: Tiger Synergy Bhd managing director Datuk Tan Wei Lian has disposed of 12mil shares, representing 3.92% stake in the company, at 14.5 sen apiece in the open market last Friday. The share disposal consequently brings down his direct int…..

Hi-Mart shares suspended on embezzlement charges
SEOUL: South Korea’s stock exchange yesterday suspended trading in electronics retailer Hi-Mart Co and said it might review the company for a possible delisting over an embezzlement scandal, less than a year after it went public.       …..

Indonesian oil palm JV boost
EVERSENDAI CORP BHD …..

Axis REIT posts higher profit
PETALING JAYA: Axis Real Estate Investment Trust (REIT) has reported a net profit increase of 27.1% from a year earlier to RM20.96mil for its first quarter ended March 31, 2012, on higher revenue and property revaluation surplus……

Citigroup Q1 profit beats estimates
NEW YORK: Citigroup Inc’s first-quarter profit beat Wall Street estimates as expenses fell 7% from the 2011 fourth quarter……

Malaysian dilemma on biodiesel exports
CURRENTLY there is a grey area where the status of local palm biodiesel sector is concerned, be it in export or domestic consumption……

I-Bhd is looking to unveil residences, SoHos, SoVos worth Rm450mil
SHAH ALAM: I-Bhd will be launching some one million sq ft of property worth RM450mil at its flagship development, i-City in Shah Alam, this year, executive chairman Tan Sri Lim Kim Hong said……

OSK Prop offers discount vouchers
PETALING JAYA: OSK Property Holdings Bhd has turned to Groupon……

Learning agility has become a highly prized quality in today’s marketplace
IN my last article I wrote about how the centre of gravity in the global economy is now rapidly shifting to Asia, driven by rising consumption and increased innovation……

MCMC expects telecom players to rationalise with 4G rollout
PETALING JAYA: The Malaysian Communications and Multimedia Commission (MCMC) sees more infrastructure rationalisation activities within the telecommunications industry with the impending roll-out of long-term evolution (LTE) or 4G services in the fut…..

Bumi Armada unit wins RM612.6mil Russian deal
PETALING JAYA: Offshore oilfield services provider Bumi Armada Bhd has won a US$200mil (RM612.6mil) engineering, procurement, installation and commissioning contract via its wholly-owned subsidiary Bumi Armada Caspian LLC from Russian oil major OAO L…..

Wealthy foreigners can’t ‘buy’ PR status anymore in S’pore
SINGAPORE: The Monetary Authority of Singapore (MAS) will roll up and put away one red carpet for rich foreigners aiming for permanent residence (PR) here, amid criticism of the influx of immigrants and its impact on asset prices, sources have told B…..

S. Korea central bank trims GDP, inflation forecasts
SEOUL: South Korea’s central bank yesterday trimmed its forecast for economic growth in Asia’s fourth-largest economy this year due to a global downturn and weak domestic demand.       …..

Spain says no more budget cuts or tax increases this year
MADRID: Spain’s economy minister has ruled out any Greek-style debt rescue and says there are no plans for new tax increases or budget cuts this year, in a published interview……

Yuan weakens after China’s reform move
SHANGHAI: China’s yuan weakened against the US dollar yesterday, the first trading day after a landmark move by Beijing aimed at liberalising tight controls over the currency that have angered trade partners……

Apple weighs on Nasdaq; Dow climbs 72, Europe recovers, Asia mostly down
NEW YORK (AP) – For most of the year, Apple has propelled the Nasdaq composite index forward. The stock climbed from $405 at the start of the year to more than $630 last week, and the Nasdaq easily beat the gains of other indexes……

Brent crude falls on easing tensions over Iran
NEW YORK (AP) – An important oil price benchmark dropped nearly 3 percent Monday as tensions eased over Iran’s nuclear programme……

Argentine leader moves to nationalize oil shares
BUENOS AIRES, Argentina (AP) – President Cristina Fernandez on Monday presented a bold plan to seize control of leading oil company YPF by nationalizing the shares owned by Spain’s Repsol, moving to expand the state’s control over Argentina’s energy …..

Citi flexes some global might in first quarter
NEW YORK (AP) – Citigroup, which has 4,600 branches in 40 countries, boasts that it is the most global American bank. That reach paid off big time in the first three months of the year……

Spain’s bond yields jump as bailout fears grow
MADRID (AP) – The interest rate on Spanish government bonds rose sharply on Monday, a sign that investors are becoming more worried about the country’s ability to afford mounting debts as its economy shrinks……

American Jim Yong Kim is chosen to lead World Bank
WASHINGTON (AP) – Jim Yong Kim, an American who is president of Dartmouth College, has been chosen to be the next president of the World Bank. His selection Monday extends the U.S. hold on the top job at the 187-nation development agency……

US economic outlook brightens as retail sales rise
WASHINGTON (AP) – Americans bought more electronics, started home improvement projects and updated their wardrobes last month, inspired by warmer weather and a healthier job market……

Oracle focuses on Google emails in Android trial
SAN FRANCISCO (AP) – Oracle intends to rely heavily on Google’s own internal emails to prove Google’s top executives knew they were stealing a popular piece of technology to build the Android software that now powers more than 300 million smartphones…..

“”Made in Japan”" engineers find second life in China
DONGGUAN, China (Reuters) – Their technical skills helped Japan’s corporate giants sweep all before them in the 1980s, and now thousands of ageing Japanese engineers are finding a new lease of life in booming China……

Check that bought Superman rights for US$130 sells for US$160,000
NEW YORK (Reuters) – Decades after two young cartoonists from Cleveland sold the rights to Superman for $130, their 1938 paycheck fetched $160,000 on Monday in an online auction……

China Q1 FDI inflow down 2.8 percent to $29.5 billion
BEIJING (Reuters) – China drew $29.5 billion in foreign direct investment (FDI) in the first quarter of 2012, down 2.8 percent from the same period in 2011, the Commerce Ministry said on Tuesday……