KLSE Market

San Miguel to ink CIMB deal on Tues
MANILA: San Miguel Corp will sign on Tuesday a deal selling 60 percent of its unlisted banking unit to Malaysia’s second-largest lender CIMB Group, the president of the Philippine conglomerate said. The deal marks CIMB’s entry into the Philippine…..

Malakoff: Underwriters for re-listing by June
MMC Corp Bhd (MMC) said it expected the advisors and underwriters for the re-listing of its 51 per cent-owned subsidiary, Malakoff Corp Bhd, to be appointed in June.MMC Group Managing Director Datuk Hasni Harun said the listing will take place 6-12 m…..

Hartalega pre-tax profit rises to RM202m
Hartalega Holdings Bhd has registered a profit after tax of RM201.6 million for the financial year ended March 31, 2012 compared to profit after tax of RM190.3 million posted last year. Revenue rose to RM931.08 million from RM734.9 million, the compa…..

‘Good time to buy Multi-Purpose’
Kenanga Research started Malaysian financial services to gaming conglomerate Multi-Purpose Holdings Bhd with an ‘outperform’ call and target price of RM3.72 per share. ‘We believe it is a good time to buy MPHB now at its undemanding valuation b…..

Malaysia’s debt at RM257.2bil in 2011
KUALA LUMPUR: Malaysia’s national debt at the end of lastyear stood at RM257.2 billion or 30.2 per cent of Gross Domestic Product (GDP), the Dewan Negara was told today. Deputy Finance Minister Senator Datuk Donald Lim Siang Chai said the country’s n…..

Kelington proposes one-for-one bonus issue
Kelington Group Bhd has proposed a bonus issue of up to 86.19 million new shares on the basis of one bonus share for every one share held on an entitlement date to be determined later. The company’s enlarged issued and paid-up capital would rise to u…..

Pavilion REIT cut to ‘market perform’
RHB Research cut its call on Malaysian shopping mall trust Pavilion REIT to ‘market perform’ from ‘outperform’, citing limited upside to the stock’s fair value due to stronger share prices. ‘The share price has strengthened in recent weeks, hence…..

AirAsia X flies more passengers in Q1
AirAsia X, the long haul affiliate of AirAsia has registered another load factor record of 690,000 passengers in the first quarter of 2012. The passengers carried, a growth of 7.5 per cent over the same quarter in 2011, exceeded the capacity increase…..

Kencana HL wins RM474m Murphy job
Kencana HL Sdn Bhd has secured an engineering, procurement, construction and commissioning (EPCC) contract worthRM460 million to RM474 million from Murphy Sarawak Oil Co Ltd. Kencana HL is a wholly-owned unit of Kencana Petroleum Bhd. In a filing to…..

‘Energy sector may drive economic growth’
KUALA LUMPUR: JFPS Group, a business performanceenhancement company, expects the energy sector to continue driving the country’s economic growth. Group Managing Director Jocelyn Ng said from 2009-2011, the energy sector had contributed an average of …..

Telekom still reviewing papers for digital TV
Telekom Malaysia Bhd (TM) is still reviewing the documents on the request for proposal (RFP) in respect of digital terrestrial television broadcasting (DTTB), its Group Chief Executive Officer, Datuk Zamzamzairani Mohd Isa said today. He said the pro…..

AirAsia rises on Singapore hub news
AirAsia Bhd, Asia’s biggest budget carrier, rose 1.1 percent to RM3.58 in Kuala Lumpur trading at 9.40am. The airline may have received Singapore’s approval to start a hub there to expand its network, the Malaysian Insider online newspaper reported, …..

Bumi Armada gains, said a ‘buy’
KUALA LUMPUR: Bumi Armada Bhd’s share price traded higherin the early session today after its unit, Bumi Armada Navigation Sdn Bhd, won a five-year contract for its DP2 accommodation workboat, Armada Firman 3 yesterday. The contract is estimated to b…..

Permanis inks deal with Revenue Valley
KUALA LUMPUR: Permanis Sdn Bhd recently signed an exclusive multi-million dollar agreement to supply beverages to Revenue Valley Sdn Bhd, which owns and operates food outlets, Manhattan Fish Market (MFM), Tony Roma’s and Popeyes. The five-year deal s…..

Formis to divest subsidiaries to Microlink Solutions
Formis Resources Bhd (FRB) and its wholly owned subsidiary Formis Holdings Bhd (collectively referred to as Formis) haveentered into a Heads of Agreement (HOA) to divest four subsidiary companies to Microlink Solutions Bhd (Micro) for RM102.0 million…..

Felcra consolidates 17 units for listing
Felcra Bhd intends to be a more viable corporate entity by consolidating all its 17 subsidiaries under a new parent forlisting on Bursa Malaysia, chairman Datuk Tajuddin Abdul Rahman said today. The listing, a long-term plan, would enable Felcra to g…..

Permaju surges, gets Bursa’s query
Permaju Industries Bhd, a timber group, jumped 16 percent to 85 sen in Kuala Lumpur trading at 9.40am, poised for its highest close since August 2004, before its shares were suspended. The company isn’t aware of the reason for the sharp increase in i…..

Perisai inks rig job with PPL Shipyard
Perisai Petroleum Teknologi Bhd, through its wholly-owned subsidiary, Perisai (L) Inc, has signed a rig constructioncontract with PPL Shipyard to construct a Pacific Class 400 jack-up drilling rig at a cost of US$208 million (US1=RM3.0545). The rig i…..

AmMutual declares income distributions
AmMutual has declared income distributions totalling RM25.66 million for four of its funds, comprising bond and equityfunds. AmInvestment Bank in a statement here today said AmDynamic Bond declared an interim income distribution of two sen for its fi…..

Tanco Hldgs secures RM77m loan from Bank Rakyat
Tanco Holdings Bhd’s wholly-owned subsidiary, Palm Springs Development Sdn Bhd (PSDSB), has secured banking facilities totalling RM77 million from Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat). In a filing with Bursa Malaysia, Tanco said RM24 mill…..

Zeti opens Banking Institutes Conference
KUALA LUMPUR: The Asian-Pacific Association of Banking Institutes (APABI) Conference was successfully officiated today in Kuala Lumpur by the Governor of Bank Negara Malaysia, Tan Sri Dr Zeti Akhtar Aziz. It marked the start of the 2-day regional con…..

Al-Hadharah REIT posts higher pre-tax profit
Al-Hadharah Boustead REIT recorded a higher profit after tax of RM21 million for its first quarter ended March 31, 2012,compared with the previous RM20 million. Revenue also improved to RM24.2 million compared with RM22.2 million previously, driven b…..

Grand-Flo posts higher Q1 pre-tax profit
Leading tracking solutions providerGrand-Flo Solution Bhd announced that its pre-tax profit for the first quarterended March 31, 2012 increased 6.6 per cent to RM2.440 million from RM2.289million in the corresponding quarter of last year. In a statem…..

Sarawak Oil Palms posts lower pre-tax profit
Sarawak Oil Palms Bhd registered a lowerpre-tax profit of RM57.31 million in the first quarter ended March 31, 2012compared with RM81.554 million in the same quarter last year. Revenue for the quarter declined to RM228.783 million from RM238.484 mill…..

Smartphone ownership to hit critical mass
A new study by global information and measurement company Nielsen has showed that smartphone ownership and usage isexpected to reach critical mass in Malaysia within the coming year. In a statement today, it said the smartphone penetration rate was a…..

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 0.4 per cent to 1,590.60.AirAsia Bhd, Asia’s biggest budg…..

Ringgit opens flat against US dollar
KUALA LUMPUR: The ringgit was flat against the US dollar, 38 minutes into trading at 3.0530/0560, dealers said.The local unit was quoted at 3.0530/0560 to the US dollar at 5pm on Monday.Dealers said investors had resumed interest in emerging currenci…..

US stocks mixed after eurozone votes
NEW YORK: US stocks closed mixed Monday, showing little impact from the weekend votes in France and Greece which cast doubt on the path of financial reform across the troubled eurozone.The Dow Jones Industrial Average closed down 29.74 points (0.23 p…..

AYS Ventures to list on Wednesday
AYS Ventures Bhd, which took over the listing status of NV Multi Corporation Bhd under a restructuring scheme, will be listed on the Main Market of Bursa Malaysia on Wednesday……

Perisai Petroleum gets US$208m rig contract from Sembcorp subsidiary
Perisai Petroleum Teknologi Bhd has secured a contract from Sembcorp Marine’s subsidiary to build a drilling rig costing US$208mil……

KLCI closes higher at 1,590 as sentiment perks up
Blue chips on Bursa Malaysia perked up in late trade on Tuesday on some mild fund buying of index-linked stocks in thin volume while the broader market also showed improvement with advancing stocks beating decliners four to three……

F&N to see new revenue stream from property devt
Fraser & Neave Holdings Bhd (F&N) will start seeing a new revenue stream from property development come its financial year ending Sept 30, 2016, as it will be launching a RM1.6bil mixed development in its ex-dairy premises in Section 13, Petaling Jay…..

CIMB buying 60% of Bank of Commerce for RM881m
CIMB Group Holdings Bhd has proposed to acquire a 59.98% stake in Philippines’ Bank of Commerce (BoC)for 12,203mil pesos (RM881mil) as it expands into the country’s commercial banking business……

MMC to divest stake in Malakoff
MMC Corp Bhd will have to divest at least a quarter of its 51% stake in power producer Malakoff Corp Bhd, which it plans to relist next year, to comply with Bursa Malaysia regulations……

Trading in CIMB Group suspended in afternoon session
Trading in CIMB Group Holdings Bhd’s securities has been voluntarily suspended in the afternoon session on Tuesday for an announcement pertaining to a corporate exercise……

ACCIM members to access own credit info via CBM tie-up
Over 28,000 members of the Associated Chinese Chamber of Commerce and Industry of Malaysia (ACCCIM) will be able to access their credit details and rating services via tie-up with Credit Bureau Malaysia (CBM)……

Telekom Malaysia capex RM2.5b to RM2.6b this yr
Telekom Malaysia Bhd’s capital expenditure for 2012 will be between RM2.5bil and RM2.6bil. Its group chief financial officer Datuk Bazlan Osman said on Tuesday that TM’s capex for 2011 was RM2.6bil……

Bank Islam mulling acquisition of Indonesia’s Bank Muamalat
Malaysia’s Bank Islam, the country’s second largest sharia bank is still exploring plans for a potential acquisition of a stake in PT Bank Muamalat in Indonesia, said its group managing director and CEO Johan Abdullah……

Key Asian markets mixed, KLCI higher
Key Asian markets were mixed at midday on Tuesday while at Bursa Malaysia, blue chips were slightly higher on local fund buying of index linked stocks……

Zeti: Asian financial markets can provide liquidity
Asian financial markets and banks have enough liquidity to withstand any crunch from investors fleeing to safe-haven assets due to renewed concerns over the euro-zone crisis, Bank Negara Malaysia’s governor said……

GLOBAL MARKETS-Shares revive as Spanish bank hopes soothe nerves
TOKYO (Reuters): Shares recovered on Tuesday from the previous day’s plunge, as sentiment improved on hopes Spain would use public funds to bolster its struggling banks, although persistent wariness over Greece weighed on the euro……

MPHB highest since August 2011
Share price of Multi-Purpose Holdings Bhd (MPHB) rose to its highest since August 2011 as it transforms into a clean-cut numbers forecast operator (NFO) play which should lead to a higher valuation……

Market firmer in early trade, mild boost from Genting
Blue chips managed to eke out marginal gains on Tuesday, aided by gains in Genting Bhd, after opening in the red……

HDSBVR maintains MSM fully valued at RM4.15 target price
Hwang DBS Vickers Research said it is maintaining its fully valued recommendation on MSM Malaysia Holdings Bhd and target price of RM4.15……

Trading in Permaju halted after Bursa Securities query
Trading in the securities of Permaju Industries Bhd was halted at 9.09am on Tuesday following a second Bursa Malaysia Securities query over the unusual market activity (UMA)……

Kenanga Research has Outperform on MPHB, TP RM3.72
Kenanga Investment Research has initiated coverage of Multi-Purpose Holdings Bhd (MPHB) at RM2.88 with a target price of RM3.72……

HDBSVR sees respite for Asian markets
Hwang DBS Vickers Research said there could be respite in Asian equities on Tuesday following the market rout yesterday……

Facebook’s Zuckerberg kicks off investor show in New York(update)
NEW YORK: Facebook Inc CEO Mark Zuckerberg fielded questions about the No. 1 social network’s slowing revenue growth and its US$1 billion purchase of Instagram as he kicked off a cross-country roadshow to promote the company’s US$10 billion initial p…..

CIMB Research maintains Underperform on MISC
CIMB Equities Research said although MISC’s share price has fallen to very low levels, it may continue to languish in the absence of catalysts. …..

Perodua to invest RM1.2bil
RAWANG: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) will be investing between RM1.2bil and RM1.5bil over the next three years as it gears up for the imminent liberalisation of the local automotive industry. Perodua managing director Datuk Aminar Rash…..

Perodua MD to previous and existing customers: Let’s have lunch
PETALING JAYA: Perodua managing director Datuk Aminar Rashid Salleh wants to engage all of the carmaker’s previous and existing customers – over lunch……

AirAsia, MAS seek intensive ties
SEPANG: AirAsia and Malaysia Airlines (MAS) are currently discussing ways to create intensive collaboration areas while maintaining a win-win situation. AirAsia chairman Datuk Aziz Bakar in a Bernama report said discussions were currently ongoing b…..

EPF submits names of 442 defaulting directors to Immigration Dept
KUALA LUMPUR: The Employees Provident Fund (EPF) has submitted the names of 422 defaulting company directors to the Immigration Department for the period from January until March 2012 to prevent these directors from leaving the country without first …..

MRB eyes RM1.5bil project
PETALING JAYA: The Malaysian Rubber Board (MRB) is mulling an exercise to develop another piece of its land in Ampang, Kuala Lumpur, and at least four developers have expressed firm interest in the project, according to industry sources……

Plan to introduce exchange traded bonds excites local market
SINGAPORE: After years of talk, Malaysian bond market players are excited that Bursa Malaysia has come out with a draft that will amend the regulatory framework that will allow Malaysian retail investors buy and trade conventional and Islamic bonds……

Bumi Armada clinches RM198mil contract
KUALA LUMPUR: Bumi Armada Bhd subsidiary, Bumi Armada Navigation Sdn Bhd, has been awarded a contract valued at US$65mil or RM198.9mil……

Harvest Court’s related party transactions fair and reasonable, says independent adviser
PETALING JAYA: The independent advisor of Harvest Court Industries Bhd is recommending shareholders vote in favour of proposals relating to the company’s diversification into the construction sector, a circular to shareholdes revealed……

Market sentiment weak
PETALING JAYA: Weak overseas markets and a general lack of catalysts pushed the local bourse down, in what experts say may be the market trend, at least for the immediate term……

Microlink, Formis voluntarily suspended
KUALA LUMPUR: Microlink Solutions Bhd and Formis Resources Bhd shares have been voluntarily suspended from trading on the stock exchange, with a source saying Formis will sell some of its businesses to Microlink in exchange for shares……

Abu Sahid, daughter sell stakes in Pulai Springs
KUALA LUMPUR: Tan Sri Abu Sahid Mohamed, an alternate director at Pulai Springs Bhd, disposed of his 18.12% stake, comprising 19.02 million shares, on April 30……

MMC plans to relist Malakoff next year
KUALA LUMPUR: MMC Corp Bhd plans to relist its 51%-owned Malakoff Corp Bhd – the country’s largest independent power producer – on the local bourse next year, a company source said……

Prasarana AAA ratings reaffirmed
PETALING JAYA: RAM Ratings reaffirmed the AAA ratings of Syarikat Prasarana Negara Bhd’s RM1bil coupon-bearing bonds and RM5.468bil serial fixed-rate bonds, with a stable outlook for the long-term ratings……

EDL to affect MRCB’s earnings
MALAYSIAN RESOURCES CORP BHD …..

US Treasury to sell US$5b AIG stock
WASHINGTON: The US Treasury is to sell US$5bil worth of shares in American International Group Inc (AIG) in a stock offering, with the bailed-out insurer buying US$2bil……

Micron wins right to bid for Elpida
TOKYO: US-based Micron Technology has won the right to negotiate exclusively to buy Elpida Memory Inc after offering more than 200 billion yen (US$2.5bil) for the failed Japanese chipmaker, a source with knowledge of the transaction said……

Icahn wins battle for CVR Energy
BANGALORE: Billionaire investor Carl Icahn won control of oil refiner CVR Energy Inc after shareholders flocked to accept a takeover offer valuing the company at about US$2.6bil, ending a three-month-long war of words with the board.  &nbsp…..

Retail investors can trade in OTC stocks
BEIJING: China will let retail investors trade in a nationwide over-the-counter (OTC) market for non-public companies similar to the United States. OTC Bulletin Board, a top securities regulator said yesterday.      &nbs…..

Beijing Enterprises ups stake in China Gas, bidding war looms
HONG KONG: Chinese conglomerate Beijing Enterprises Group has again raised its stake in takeover target China Gas Holdings Ltd, bolstering the prospect of a US$2.3bil-plus bidding war for the mainland gas distributor between two state-owned companies…..

MSM profit rises on higher export sales, average price
PETALING JAYA: MSM Malaysia Holdings Bhd posted a 7% rise in first-quarter net profit to RM66.386mil, from RM62.016mil a year earlier……

F&N net profit falls on lower revenue
KUALA LUMPUR: Frase & Neave Holdings Bhd’s (F&N) second-quarter ended March 31 year-on-year (y-o-y) net profits declined by 18.89% to RM107.06mil from RM131.99mil as revenue dropped to RM730.43mil from RM1.01bil a year earlier……

Eonmetall to dispose of Penang land
PETALING JAYA: Eonmetall Group Bhd is disposing of its freehold industrial land in Penang, together with the three-storey office building annexed with a single-storey factory building sitting on it, for a total cash consideration of RM26mil……

Bose of US to set up Asia-Pacific manufacturing plant in Penang
PETALING JAYA: US-based audio specialist Bose Corp would be setting up their first Asia-Pacific plant in Batu Kawan, Penang after starting talks with the Malaysian authorities last October……

Will Dorab Mistry be proven right on palm oil tax?
LAST week, Dorab Mistry, an international palm oil industry analyst renowned for his bullish CPO price forecasts, made a different kind of prediction – that Malaysia will only introduce its new palm oil tax policy after the safe execution of Felda Gl…..

Outlook for dry bulk still bearish
PETALING JAYA: Despite a 78.6% correction in the Baltic Dry Index (BDI) since the benchmark for dry bulk cargo rates bottomed out in early February, analysts remain bearish on the sector due to an oversupply that will likely last till 2014……

Asian businesses move with caution Need for a watchful eye on Europe, US and China
THERE is no question that the economic storm clouds that have cast a pall over Europe are producing fallout across Asia……

Billionaire Warren Buffett says buying stocks amid market dip
Omaha, Nebraska: Berkshire Hathaway Inc is adding to its shareholdings of two U.S. companies amid a market dip, billionaire investor Warren Buffett said on Monday……

GLOBAL MARKETS-Shares, euro resilient after Europe’s elections
NEW YORK, May 7 (Reuters) – World markets took political upheaval in Europe largely in stride on Monday, a day after voters in Greece and France delivered strong mandates against austerity measures, with the euro recovering from sharp losses and loca…..

Indonesia’s 6.3% Q1 growth slowest in six quarters
JAKARTA: Indonesia posted its slowest growth in six quarters in the first three months of this year as exports fell due to weaker global demand, and the central bank might have to hold its policy rate steady for the whole year to spur the domestic ec…..

China computer firm seeks settlement in iPad row
SHANGHAI: A Chinese computer company which sued Apple over the rights to the iPad trademark in China is now in talks for an out-of-court settlement, according to a lawyer for the firm……

China, Japan, South Korea for FTA talks
BEIJING: Trade ministers from China, Japan and South Korea will meet on Saturday to talk about a possible trilateral free trade zone, according to the Chinese Ministry of Commerce.       …..

Euro takes a beating
TOKYO: The euro sank in value as the electoral defeat of ruling parties in France and Greece stoked anxiety in Asia about the fate of austerity policies designed to end the eurozone’s debt crisis……

MBK’s US$2.4bil sale in jeopardy
TAIPEI: The buyer group for private equity fund MBK Partners’ Taiwan cable television business said it might have to pull out of the US$2.4bil deal because of delays in the regulatory approval that it said had cost it an extra US$300mil……

UK to give priority to depositors
LONDON: Britain will publish detailed proposals on reform of its banking sector next month, the Treasury said, and would press ahead with plans to ensure that savers get their money back ahead of other investors if banks fail.    …..

India delays tax evasion measures
NEW DELHI: India delayed by a year the rollout of measures to crack down on tax evasion, mollifying overseas investors rattled by uncertainty over proposals that had spurred an exodus of funds and battered the rupee……

Hungary eyes 15bil euros IMF deal
BUDAPEST: Hungary is seeking 15 billion euros in international loans over three years to stabilise its economy, a senior government official said, blaming the International Monetary Fund (IMF) and the European Union (EU) for more delays in starting a…..

European shares fall early, Greece a worry
European shares traded lower on Tuesday, pausing after a sharp rise in the previous session, with concerns about Greece growing as the country’s parties struggled to form a new government……

Insurer Aviva’s CEO quits after pay revolt
LONDON (Reuters) – Insurer Aviva , which was hit last week by one of the biggest revolts over executive pay ever suffered by a British company, said on Tuesday its Chief Executive Andrew Moss had resigned from his position with immediate effect……