KLSE Market

AirAsia X may resume European flights
AirAsia X Sdn Bhd, the long-haul arm of Asia’s biggest discount carrier, said a planned order for Airbus SAS’s revamped A330 may let it revive European routes that were unsuccessful with older planes.’Europe would be much more accessible’ with the ne…..

MIDF: Dayang to secure RM1.1b contract
KUALA LUMPUR: MIDF Research projects Dayang EnterpriseHoldings Bhd to win at least one contract from the Pan Malaysia HUC works worth around RM1.1 billion, due to the limited number of players with the capabilities to compete. The research house said…..

Compugates disposes of Menang shares
KUALA LUMPUR: Compugates Holdings Bhd has disposed of its12.3 million 50 sen each ordinary shares in the issued share capital of Menang Corp (M) Bhd for RM3.075 million. ‘With the disposal, Compugates has ceased to be Menang’s substantial shareholde…..

Sunway’s earnings sustainable, says MIDF
KUALA LUMPUR: Sunway Bhd’s earnings will be sustainabledespite the deterioration in the property market, said MIDF Research. In a note today, it said Sunway will be helped by the higher construction orderbook replenishment as well as consistent earni…..

Kencana HL bags Murphy Sarawak Oil jobs
KUALA LUMPUR: SapuraKencana Petroleum Bhd’s wholly-owned subsidiary, Kencana HL Sdn Bhd, has secured two contracts worthRM250 million-RM300 million from Murphy Sarawak Oil Co, Ltd.In a filing with Bursa Malaysia Securities, SapuraKencana said the con…..

TSR Capital secures 2 MRT contracts
KUALA LUMPUR: TSR Capital Bhd through its wholly-ownedsubsidiary, TSR Bina Sdn Bhd, has received two contracts from Mass Rapid Transit Corporation Sdn Bhd, the concessionaire for the massive Mass Rapid Transit (MRT) project. It said the contracts are…..

‘KLIA2 timeliness necessary to cool tension’
Timeliness and a concrete black and white commitment on fixed airport charges in the new low-cost carrier terminal isneeded to cool down the ongoing tension between AirAsia Chief Tan Sri Tony Fernandes and Malaysia Airports Holdings Bhd (MAHB), says …..

Kirin said to mull bid for F&N
Kirin Holdings Co, Japan’s largest brewer by market value, is considering a bid for Fraser and Neave Ltd’s soft drinks and dairy businesses, said three people with knowledge of the matter.The people, who asked not to be identified as the deliberation…..

CIMB ups UOA 2012-2014 earnings forecast
CIMB Research has raised UOA Development Bhd’s 2012, 2013 and 2014 earnings per share forecast by up to 10 per cent, in view of its stronger-than-expected new sales. In a research note, it said sales in the first seven months of the year exceed RM1…..

Gadang records RM17.91m pre-tax profit
KUALA LUMPUR: Gadang Holdings Bhd reported a pre-taxprofit of RM17.91 million for financial year ended May 31, 2012 compared to a pre-tax loss of RM1.20 million in the same period of 2011. Its revenue eased to RM246.35 million from RM350.49 millio…..

PCCC in bid to take over Penang Port
The Penang Chinese Chamber of Commerce (PCCC) will form a consortium in a bid to take over Penang Port, says itspresident Tan Sri Tan Kok Ping. Tan said the various chambers of commerce in Penang — Malay, Chinese and Indian — and the Federation of …..

National Instruments eyes US$2b revenue
KUALA LUMPUR: National Instruments (NI), a global technology company, aims to double global revenue from US$1 billion annually, through its investment in Malaysia. The managing director of NI Penang, Raj Purushothaman said Malaysia will be the lar…..

US steel tech firm bullish about SE Asia
NEW YORK: A steel technology group in the United States, which has supplied specialised technology to steel plants in Malaysia in the past, says it is bullish about Southeast Asia and Asia. Henry Gaines, Marketing Director of Charlotte, North Carolin…..

CYL Corp expects 5-10pc revenue hike
KUALA LUMPUR: CYL Corp Bhd expects its revenue to increase between five per cent and 10 per cent for its current financial year, driven by an increased number of customers, said managing director Chen Yat Lee. CYL Corp, listed on the Main Market of B…..

Daibochi pre-tax profit increases to 8.8m
Daibochi Plastic and Packaging Industry Bhd’s pre-tax profit for the second quarter ended June 30, 2012 increased to RM8.8 million from the RM6.6 million recorded in the corresponding quarter last year. Its revenue, however, fell to RM70.6 million c…..

Maybank raises UMW forecast
Maybank Investment Bank Research has raised its earnings forecast on UMW Holdings Bhd by between seven per cent and11 per cent for the 2012 and 2013 financial years, on stronger contributions from the automotive sector. In a research note today, Mayb…..

Tasek Corp Q2 pre-tax profit slightly higher
KUALA LUMPUR: Tasek Corp Bhd’s pre-tax profit for the second quarter ended June 30, 2012 rose to RM30.58 million from RM30.25 million in the same period last year. Its revenue increased to RM139.73 million from RM139.57 million previously. In a filin…..

MHC Plantation pre-tax profit almost halves
MHC Plantations Bhd’s pre-tax profit for the second quarter ended June 30, 2012 plummeted to RM5.315 million fromRM10.226 million posted in the same period last year. Its revenue eased to RM7.129 million from RM8.712 million. The company said t…..

Yayasan TM in pact with Yayasan Sofa
Yayasan Telekom Malaysia (Yayasan TM) and Negri Sembilan-based Yayasan Sofa recently signed a Memorandum of Understanding(MoU) to collaborate on human capital development in education, academia, teaching, research, the arts and heritage. At the signi…..

Bank Negara helps calibrate autopay stations
KUALA LUMPUR: Bank Negara is working closely with themanagement of shopping complexes, office buildings and public transportation companies to calibrate their auto pay stations to accept the new banknotes issued on July 16. The new series comprise de…..

Call to extend RFG to other financial bodies
KUALA LUMPUR: The Responsible Financing Guidelines (RFG) should not only be applicable to commercial banks but also to otherfinancial institutions that offer similar loans like banks, said a local player. In making the call, Alliance Bank Malaysia B…..

Concern over possible cement price hike
PETALING JAYA: Malaysian housing developers and building materials distributors have expressed concern over the possibility that cement prices could go up next month. President of the Building Materials Distributors Association of Malaysia, New Ching…..

FBM KLCI down on weak buying momentum
KUALA LUMPUR: Bursa Malaysia closed lower across-the-board todayamid weaker buying momentum with sentiment dampened by fear of a global economic slowdown, dealers said. At the close, the underlying FTSE Bursa Malaysia KLCI (FBM KLCI) declined 11.18 p…..

US stocks mixed on earnings reports
NEW YORK: US stocks closed mixed on Wednesday as investors digested strong earnings reports from Dow members Boeing and Caterpillar and disappointing results from Apple.Weaker-than-expected numbers on new-home sales also weighed on sentiment.Lifted b…..

Compugates sells 12.3m Menang Corp shares
—…..

SapuraKencana Petroleum secures RM300m deals
SapuraKencana Petroleum Bhd has secured two contracts from Murphy Sarawak Oil Co. Ltd. valued between RM250mil and RM300mil……

KLCI ends day down 11pts
The FBM KLCI posted its biggest decline in recent weeks on Thursday, as investors turned cautious, with plantations and Genting among the decliners but UOA Development bucked the trend following an upgrade by CIMB Equities Research……

British bank Lloyds gets Libor subpoenas
LONDON: Britain’s Lloyds Banking Group has received subpoenas from government agencies investigating a global interest rate rigging scandal that has rocked the banking industry and has not set any money aside to cover a potential fine, it said on Thu…..

KLCI posts biggest loss in recent weeks
Profit taking on blue chips picked up pace in late afternoon on Thursday, which saw the FBM KLCI recording its biggest decline in recent weeks, with plantations among the biggest losers……

European shares trade lower, oil majors weigh
LONDON: European shares edged slightly lower on Thursday, in choppy opening trade, as investors balanced downbeat corporate earnings reports with hopes for further U.S. stimulus to boost growth……

Shell results kick off weak quarter for oil majors
LONDON: Weaker prices for oil worldwide and for gas in North America took their toll on Royal Dutch Shell’s profit in the second quarter……

AmBank expects a 3% to 4% growth in personal loans
AmBank (M) Bhd forecasts a 3% to 4% growth in consumer loans this year, driven by a better outlook in the automobile sector this year……

Menang subsidiary gets RM101m job to build UiTM centre
Menang Corporation (M) Bhd’s 51% owned subsidiary has secured a RM101mil contract to build a training centre for Universiti Teknologi MARA (UiTM) in Nilai, Negeri Sembilan……

Tasek Q2 earnings dn 4.4% to RM23m
asek Corp Bhd earnings fell 4.4% to RM23.13mil in the second quarter ended June 30, 2012 from RM24.21mil a year ago due a weaker performanmce of the concrete segment……

Sime Darby, KLK weigh on KLCI, weaker CPO prices worry
Plantation-based Sime Darby and KL Kepong dragged the FBM KLCI into the red at midday on Thursday on worries about expected decline in crude palm oil (CPO) prices…..

Malaysia’s trade exposure to 5 troubled European countries at 1.5%
Malaysia’s exposure to the five troubled economies in Europe in terms of trade is minimal at 1.5%, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah……

Fire breaks out on MISC vessel in Labuan
Petronas Chemicals Group Bhd said there was a fire at its subsidiaries, Petronas Chemicals Methanol Sdn Bhd in Labuan early Thursday……

UMW slumps to 3-week low
Shares of UMW Bhd fell to a three-week low of RM9.57 on Thursday on profit taking while its valuations looked stretched as it was trading at a 14 times forward price to earnings……

Man United plans IPO launch within days
NEW YORK: Manchester United is planning to launch the marketing road show for its proposed $300 million U.S. initial public offering within days, after a delay earlier this week, sources familiar with the matter said on Wednesday……

Blue chips slip, BAT, KLK lead decliners
Blue chips fell on Thursday, with BAT and KL Kepong the main decliners, dragging the FBM KLCI into the red but the breadth of the overall market was mixed……

AirAsia plans to buy Indonesia’s Batavia Air
JAKARTA: Low cost carrier AirAsia Bhd is set to buy Indonesian low cost carrier Batavia Air as it aims to expand in Southeast Asia’s biggest economy, an executive at its Indonesian unit said on Thursday……

US-based National Instruments to set up R&D centre in Penang
US-based National Instrument is setting up a research and development (R&D) centre in Penang, which will be the largest outside of its headquarters……

RHB Research maintains Outperform on Genting Bhd
RHB Research Institute is maintaining its Outperform on Genting Bhd but reduced its sum-of-parts based fair value to RM10.75 from RM10.80. …..

CIMB Research ups UOA Develeopment target price to RM2.18
CIMB Equities Research has raised the target price of UOA Development to RM2.18……

HDBSVR sees KLCI backing off from 1,635
Hwang DBS Vickers Research (HDBSVR) expects the FBM KLCI, which ended Wednesday at its intra-day high of 1,635, could back off from its immediate resistance level of 1,635 on Thursday due to a lack of follow-through buying……

Kenanga Research raises SK Petro’s FV to RM2.79
Kenanga Investment Research has raised the fair value for SapuraKencana Petroleum to RM2.79 from RM2.51……

Zynga slashes outlook, denting its stock and Facebook’s
SAN FRANCISCO: Zynga Inc , the social gaming company, slashed its 2012 earnings outlook after its second-quarter results badly missed Wall Street’s targets, sending its stock plunging more than 40 percent to a record low……

Symantec fires CEO, successor promises turnaround
NEW YORK: Symantec Corp’s board has fired Chief Executive Enrique Salem and replaced him with Chairman Steve Bennett, who launched a strategic review in a bid to turn around the security software company whose stock has languished for years……

S&P 500, Nasdaq fall on Apple’s miss; Dow rises
NEW YORK: The S&P 500 fell for a fourth day and the Nasdaq dropped on Wednesday after a rare earnings stumble from Apple, while strong results from Boeing and Caterpillar lifted the Dow……

Syed Zainal to join FGVH?
PETALING JAYA: Former head of Proton Holdings Bhd Datuk Seri Syed Zainal Abidin Syed Mohamed Tahir may surface in a top management role in recently-listed Felda Global Ventures Holdings Bhd (FGVH), industry sources told StarBiz ……

TH Plantation acquisition may put pressure on EPS
PETALING JAYA: TH Plantations Bhd’s proposal to acquire two companies from Lembaga Tabung Haji (LTH) is deemed to have a positive impact for the group in the medium to long term but may put short-term pressure on its earnings per share (EPS) due to s…..

IHH gains 10% on debut (update)
KUALA LUMPUR: IHH Healthcare Bhd, which made its debut on Bursa Malaysia and Singapore Exchange yesterday, is looking towards further expansion in China and Turkey……

Prices of consumer goods likely to increase gradually
PETALING JAYA: Prices of consumer goods are likely to rise gradually towards the year-end, said CIMB Research……

Adventa EGM on takeover
PETALING JAYA: Adventa Bhd will hold an EGM for shareholders to decide on major investors Low Chin Guan and Mulberry Asia Fund II L.P.’s RM320.85mil, or RM2.10 per share, takeover offer……

Future in online buying
E-COMMERCE continues to see incredible growth amid the global economic uncertainty in the past year. A global report released by JPMorgan in 2011 indicates that e-commerce revenue around the world is expected to hit US$963bil this year……

Fall in sugar prices will benefit MSM
PETALING JAYA: Sugar refiner MSM Holdings Bhd, positioned as a consumer “concessionaire”’ with high dividend yields by Affin Research in an earlier report, may benefit from a sharp fall in raw sugar prices as every one US cent per lb decrease will re…..

Tower REIT Q2 profit down
PETALING JAYA: Tower Real Estate Investment Trust achieved a lower net profit of RM6.92mil for its second quarter ended June 30, compared with RM7.45mil recorded in the previous corresponding quarter……

Iris signs deal to buy Oil Field
PETALING JAYA: Iris Corp Bhd has signed a sale and purchase of shares agreement for its purchase of Oil Field Services Ltd, formalising a heads of agreement inked two weeks ago……

Fajarbaru MD sells 2.1% stake
PETALING JAYA: Fajarbaru Builder Group Bhd managing director and CEO Datuk Low Keng Kok has sold a 2.1% in the construction firm to its chairman and executive director Datuk Kuan Peng Ching @ Kuan Peng Soon……

Li Hen stops bridge construction
PETALING JAYA: Li Hen Industries Bhd has stopped construction work on a RM6.5mil bridge in Mersing, Johor due to changes to the scope of work, relocation of site, redesign works and resubmission of a new design for approval to the state’s Irrigation …..

M’sian business confidence on global economy down
PETALING JAYA: The second quarter of 2012 saw both business confidence and optimism about the global economy fall in Malaysia, and also revealed the country as the least confident market in the Asia-Pacific region……

Cheah appointed BToto chairman
PETALING JAYA: Berjaya Sports Toto Bhd (BToto) has appointed Cheah Tek Kuang as the chairman and director for the group……

Alliance: Construction sector ‘overweight’
PETALING JAYA: More redevelopment projects in Kuala Lumpur are expected due to the increasing scarcity of land, according to Alliance Research……

Malaysia’s palm oil export down 14%, survey shows
PETALING JAYA: The country’s palm oil exports fell 14% between July 1 and 25 compared with the same period in June, according to independent market surveyor Intertek……

SPK-Sentosa inks accord on oilfield services
KUALA LUMPUR: SPK-Sentosa Corp Bhd has entered into a shareholders agreement with Superior Energy Services BV and SES (KL) Sdn Bhd for the purpose of carrying on the business of oilfield services and equipment……

TAS Q4 net profit surges on sale of harbour tug
PETALING JAYA: TAS Offshore Bhd’s net profit in its fourth quarter ended May 31 almost tripled to RM7.12mil from RM2.57mil a year ago, although revenue was 16.03% lower at RM33.42mil against RM39.79mil previously……

MAHB pays tribute to airlines, concessionaires
KUALA LUMPUR: Malaysia Airport Holdings Bhd (MAHB) paid tribute to airlines, concessionaires, agencies and partners at its KLIA Awards 2011 held on July 17……

Sime director takes leave of absence
PETALING JAYA: Datuk Sreesanthan Eliathamby, a director of Sime Darby Bhd, has taken a leave of absence from the board of the company and its subsidiaries……

Malaysia a global healthcare player
KUALA LUMPUR: The dual public listing of IHH Healthcare Bhd, which made its debut on the Malaysian and Singapore stock exchanges yesterday, provides a very powerful signal that Malaysia is now a big global player in healthcare, said the former health…..

IHH to be component stock of FBM KLCI from August
PETALING JAYA: IHH Healthcare Bhd (IHH) will be included as a constituent of the FTSE Bursa Malaysia KLCI effective Aug 1, said Bursa Malaysia……

Maybank IB sees boost for CPO prices
KUALA LUMPUR: Soyaoil’s premium to crude palm oil (CPO) has widened and this should encouraged substitution from soyaoil to palm oil, according to Maybank Investment Bank (Maybank IB). “If the US crop conditions worsen in the coming two-three weeks, …..

S&P gives A- rating to CIMB bonds
PETALING JAYA: Standard & Poor’s Ratings Services has assigned an A- unsolicited issue rating to CIMB Bank Bhd’s recently-announced US$350mil 2.375% senior unsecured notes……

Banks, ITFC discuss funds for emerging market traders
GEORGE TOWN: Three local banks are exploring ways to cooperate with International Islamic Trade Finance (ITFC) to provide trade financial solutions for Malaysian entrepreneurs doing business in emerging markets, including in Organisation of the Islam…..

IBFIM: Islamic finance talent much needed
KUALA LUMPUR: The human and talent factor is very much needed to ensure that Malaysia consolidates its position as a global Islamic financial hub……

MAS sees more revenue
PETALING JAYA: Malaysia Airlines (MAS) is eyeing an additional US$100mil (RM320mil) in interlining passengers’ revenue a year through the induction of the national carrier into the oneworld alliance early next year……

AirAsia carries more passengers, raises capacity
PETALING JAYA: AirAsia Bhd carried 8.29 million passengers in the April-to-June quarter, which was 13% more than 7.35 million a year ago……

Sunway roll-backs seen positive
Analyst Reports…..

Support Line
On Censof Holding, PJ Development and YTL Land & Development…..

Ka-shing to buy UK  gas assets for US$1bil
HONG KONG: A group of companies controlled by Hong Kong billionaire Li Ka-shing has agreed to buy UK gas company Wales and West Utilities for £645mil (US$1bil), the latest acquisition by the tycoon that will boost his gas portfolio in Britain……

Japanese exports fall as Europe, China slow
TOKYO: Japan’s exports fell in June from a year earlier, the first decline in four months, as a slowdown in Europe, China and other emerging markets weighed on demand for Japanese goods……

Singapore tells banks to review interbank rate setting
SINGAPORE: Singapore’s central bank has ordered banks in the city-state to review the way benchmark interbank borrowing rates are set, as regulators worldwide scrutinise the troubled Libor system……

FDI level shows Indonesia remains attractive
JAKARTA: Foreign direct investment (FDI) in Indonesia stayed strong in the second quarter, showing the G-20 member remained a magnet in a troubled global economy and that changes in mining ownership rules are not cutting investor appetite so far……

EU wants criminal penalties for interest-rate rigging
BRUSSELS: The European Commission said it will ask all member states to introduce criminal penalties for rigging interest rates so as to help restore market confidence after the London Libor scandal……

IMF: China will rebound in H2
BEIJING: China’s economy will rebound in the second half of 2012 to expand 8% annually as government policies to spur growth take effect, the International Monetary Fund (IMF) said……

German fears over EU sharpen as confidence falls
BERLIN: Storm clouds gathered over Europe’s top economy as eurozone debt fears drove down German business confidence after a ratings agency switched its outlook for the country to negative……

UK economy worsens
LONDON: Britain’s economy shrank by a worse-than-expected amount in the second quarter, official data showed, as recession tightened its grip on the eve of the London Olympics……

Moody’s cuts outlook on EU stability fund to negative
SYDNEY: Moody’s Investors Service has changed the outlook on the provisional (P)Aaa long-term rating of the European Financial Stability Facility (EFSF) to negative from stable, a blow to a fund that was supposed to backstop struggling European Uni…..

Apple results miss Wall St targets
SAN FRANCISCO: Apple Inc’s results fell short of Wall Street’s expectations as the European economy sagged and consumers held off on buying its flagship iPhone ahead of a new version expected in the fall, hitting its stock price……

Banks’ credit clampdown seen tightening
FRANKFURT: Banks expect to toughen their lending rules further in coming months and see feeble demand for loans from firms and consumers, underscoring the dilemma European Central Bank (ECB) policymakers face as they try to revitalise the eurozone’s …..