KLSE Market

UDA unit eyes RM2b GDV from Suaindah
UDA Land Sdn Bhd, a subsidiary of UDA Holdings, aims to achieve RM2 billion in gross development value (GDV) from Phase 4 of the Suaindah development in Bandar Tun Hussein Onn by 2016.Chief Operating Officer Mohmad Sallihhudin Barlin said the GDV wou…..

Ingress bags contracts worth RM24.6m
Ingress Corporation Bhd has received new contracts with an aggregate total value of RM24.6 million for its automotive division.The company, in a filing to Bursa Malaysia said that the new contracts, are for a period of between five to seven years.The…..

Hibiscus plans to raise RM210m via CRPS
Hibiscus Petroleum Bhd has proposed to issue Convertible Redeemable Preference Shares (CRPS) to raise up to RM210 million to fund future acquisitions of oil and gas assets.It expects to acquire assets that are in the development and/or production sta…..

SC gets 56 equity, private debt proposals
The Securities Commission Malaysia (SC) received 56 applications for equity-related proposals and issuance of private debt securities (PDS) in the second quarter of the year, three times more than the number of applications received in the last quart…..

Pasukhas to raise RM10.5m from IPO
Mechanical and electrical (MandE) engineering services provider, Pasukhas Group Bhd, which is en route to listing on the ACE Market of Bursa Malaysia Securities, expects to raise RM10.5 million from its initial public offering (IPO) exercise.Its Chai…..

Senior appointments at CIMB Group
CIMB Group Holding Bhd has appointed David Richard Thomas as its group chief risk officer and Shahnaz Jammal as its deputy chief financial officer.The group said Thomas’ appointment took effect on July 26 while Shahnaz’s on July 20.’Thomas previously…..

Malaysia Marine Q2 falls to RM60.5m
Malaysia Marine and Heavy Engineering Holdings Bhd’s (MHB) pre-tax profit for the second quarter ended June 30, 2012 fell to RM60.5 million from RM96.4 million in the same quarter last year. Revenue, however, rose to RM965.712 million from RM957……

Results: Yeo’s Q2 profit drops
# Yeo Hiap Seng (Malaysia) Bhd’s pre-tax profit for the second quarter ended June 6, 2012 dropped to RM948,000 from RM5.463 million in the same quarter last year.In a filing to Bursa Malaysia, it said the lower profitability was mainly due to competi…..

‘Malaysia can hit RM115b investment target’
The Ministry of International Trade and Industry is confident Malaysia will be able to achieve its investment target of RM115 billion for this year.Its deputy minister, Datuk Mukhriz Mahathir, said Malaysia was now more selective in its search for fo…..

Zahri Yunos is acting CEO for Cybersecurity
KUALA LUMPUR: CyberSecurity Malaysia has appointed Zahri Yunos as its Acting Chief Executive Officer replacing Datuk Husin Jazri whose contract of service ended on July 31.In a statement today the national cyber security specialist centre said Zahri,…..

HwangDBS raises LMC’s earnings forecast
KUALA LUMPUR: HWANGDBS Vickers Research Sdn Bhd has raised Lafarge Malayan Cement Bhd (LMC)’s earnings forecast for the 2012-2014 financial years by 5-18 per cent, given the cement price hike, softening coal prices and stronger demand. In a research …..

Axiata plans airtime sukuk
Malaysia’s Axiata Group Bhd joins a growing number of companies using mobile-phone airtime to back Islamic transactions as Asian subscribers are forecast to dominate the global market in three years.The nation’s biggest telecommunications operator, w…..

KL shares wring gains at close
Share prices on Bursa Malaysia were marginally higher at close today bolstered by gains seen in selected heavyweights led by Petronas Gas and Tenaga, dealers said.At 5pm, the underlying FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.98 of a point higher a…..

KIMB gets Digital Franking System license
KUALA LUMPUR: Kurnia Insurans (Malaysia) Bhd (KIMB)is the pioneer company in Malaysia to obtain the System User Licence from the InlandRevenue Board (IRB) for use of the Digital Franking System (DFS).KIMB proposes to use the DFS to stamp the Foreign …..

US stocks slip after Fed holds key rates
NEW YORK: US stocks closed lower on Wednesday after the Federal Reserve kept monetary policy unchanged – a widely expected move that nevertheless disappointed those hoping for a sign of new economic stimulus.All eyes have turned toward Europe, where …..

SapuraKencana Petroleum gets RM50m Australian job
SapuraKencana Petroleum Bhd (SKPetro) has secured a A$14.8mil(RM50mil) contract in Australia to provide a vessel to support hook-up and commissioning activities……

New Hoong Fatt Q2 earnings up 33.8% to RM9.45m
New Hoong Fatt Holdings Bhd’s earnings rose 33.8% to RM9.45mil in the second quarter ended June 30, 2012 from RM7.07mil a year ago, boosted by higher income from sale of steel scrap as well as the strengthening of US dollar against the ringgit……

Tenaga lifts KLCI, F&N top gainer
Blue chips closed a tad higher on Thursday, powered by gains in Tenaga while F&N was the top performer as its major shareholder and Singapore-listed Fraser & Neave Ltd weighed a takeover bid by Heineken…..

SC: Bonds outstanding at RM941b at end-June
The total amount of bonds outstanding stood at RM941bil as at end-June 2012, reflecting the continued growth of the Malaysian bond market, the Securities Commission said……

Tenaga advances, plans up to RM7.5b capital spending
Tenaga Nasional rose on Thursday to RM6.95 as investors viewed its plans to boost capital spending for work on new power plants as positive……

Shares, euro tread water ahead of ECB meeting
LONDON: Uncertainty over the outcome of a keenly-watched European Central Bank meeting kept European shares, oil and the euro stuck in narrow ranges on Thursday……

Pasukhas to raise RM10.8m from IPO
Pasukhas Group Bhd plans to raise RM10.80mil from its proposed listing on the ACE Market of Bursa Malaysia……

Heineken bid for Singapore brewer comes to a head
SINGAPORE: A battle for control of Tiger Beer, 24 breweries in Asia and lucrative soft-drink brands should be decided by Friday as Fraser and Neave weighs a takeover bid by Heineken that could break up the Singapore beverage and property group……

MMHE Q2 net profit dn 29.9% to RM55.3m on-year
Malaysia Marine and Heavy Engineering Holdings Bhd’s (MHB) earnings fell 29.9% to RM55.32mil from RM79.02mil a year ago mainly due to lower operating profit of the offshore segment……

Multi-Code falls after share price surge
Multi-Code Electronics Industries (M) Bhd’s share price fell on Thursday, giving up about half of its previous day’s gains as investors were quick to take profit……

F&N up on report Coca-Cola keen on major shareholder’s beverage business
Shares of F&N Holdings Bhd advanced on Thursday on market talk that Coca-Cola Co. was keen on its major shareholder, Fraser and Neave Ltd’s beverage business……

Blue chips inch higher in early trade
Blue chips traded higher early Thursday but the gains were limited following the weaker overnight performance on Wall Street……

Chinese investors to buy stake in Inter Milan
MILAN: Inter Milan said a group of Chinese investors would buy a minority stake in the top Italian football club, becoming its second biggest shareholder……

RHB Research maintains Outperform for TRC Synergy, FV 84 sen
RHB Research Institute expects TRC Synergy’s 1HFY12/12 results to come in at only a fraction of its full-year net profit forecast of RM26.3mil and the full-year net profit consensus of RM24.3mil……

S.Korea Central Bank says bought 16 tonnes of gold in July
SEOUL: South Korea’s central bank said on Thursday that it bought 16 tonnes of gold in July as easing financial markets after a turbulent June allowed it to push ahead with efforts to diversify its massive foreign exchange reserves……

Kenanga Research maintains Market Perform for KLK
Kenanga Investment Bank Research is maintaining a Marker Perform recommendation for Kuala Lumpur Kepong (KLK) with a target price of RM23.50……

Error by Knight Capital rips through U.S. stock market
NEW YORK: A technology breakdown at a major trading firm roiled the prices of 140 stocks listed on the New York Stock Exchange on Wednesday, undermining fragile investor confidence in the stability of U.S. stock markets……

GLOBAL MARKETS-Stocks fall, dollar rallies after no US Fed action
NEW YORK: U.S. stocks fell and the dollar rallied on Wednesday after the Federal Reserve acknowledged that the economic recovery had lost momentum but announced no new measures to stimulate growth……

Shares ease after Fed inaction and ahead of ECB
TOKYO: Asian shares eased on Thursday as investors turned increasingly cautious as hopes of stimulus action by central banks thinned ahead of a European Central Bank’s meeting later in the day and after the U.S. Federal Reserve took no action a day e…..

HDBSVR sees KLCI trading lower after Wall Street decline
Hwang DBS Vickers Research (HDBSVR) sees stocks on Bursa Malaysia trading slightly downwards on Thursday after the overnight fall on Wall Street……

Industry players all for local mercantile exchange
PETALING JAYA: The idea for the creation of a mercantile exchange to facilitate the trading of precious metals such as gold is a good one considering it represents a legal and structured way for such trading to take place, said industry players……

Fitch affirms Malaysia’s long-term foreign, local currency ratings
KUALA LUMPUR: Fitch Ratings has affirmed Malaysia’s long-term foreign and local currency issuer default ratings (IDRs) at A- and A respectively while the outlook for both ratings is stable……

Listed firms’ failure to release audited reports on time is unacceptable
PETALING JAYA: Industry experts say the failure of listed companies to release their audited reports on time is unacceptable, for whatever the reasons……

All cement producers, except CMS, have raised prices
PETALING JAYA: Local cement manufacturers have decided to raise their prices of the building material, mirroring an earlier move by the country’s largest producer, Lafarge Malayan Cement Bhd, according to Master Builders Association Malaysia (MBAM) p…..

Big plans for Penang Port
KUALA LUMPUR: Seaport Terminal Sdn Bhd wants to position Penang Port as a regional port to tap opportunities as far out as India and for that it plans grow its capacity and invest nearly RM1bil in capital expenditure over the next five years……

MRT project moves into active construction phase
PETALING JAYA: Mass Rapid Transit Corp (MRT Corp) has announced that the country’s biggest infrastructure project, the Sungai Buloh-Kajang Mass Rapid Transit Line is on schedule……

Mudajaya secures RM30mil contract
KUALA LUMPUR: Mudajaya Group Bhd’s unit has secured a contract worth RM30mil to undertake a project to construct the entrance and exit road from the North South Highway to a site at Kampung Sungai Serai in Rawang, Selangor……

Data show loan growth slowing, but stable
PETALING JAYA: Banking statistics released by Bank Negara showed that loan growth was stable despite slowing loan growth indicators, an indication of more downside in the months to come……

Maybank upbeat on growth
KUALA LUMPUR: Malayan Banking Bhd (Maybank) is confident of continuing its growth momentum for this year on the back of solid economic growth regionally……

StanChart stands tall
HONG KONG: Standard Chartered (StanChart) is stepping up hiring and investment to take advantage of rivals retreating from its core Asian markets, after a strong first six months set it up for a 10th straight year of record profits……

Strike and vacation hit Hyundai, Kia sales
SEOUL: South Korean carmaker Hyundai Motor saw its monthly global sales expand at its slowest pace in 16 months in July, as two-day, partial walkout by its domestic factory workers, along with summer vacations, hurt production……

Indonesian exports slump
JAKARTA: Indonesia’s June exports saw their biggest drop in nearly three years on softer Chinese demand, causing the trade deficit to widen to its biggest in more than a decade and adding to investor worries about the rupiah……

S. Korea July exports, inflation dip
SEOUL: Exports in July suffered the worst showing in nearly three years and manufacturing activity shrank at its sharpest pace this year as South Korean’s export-reliant economy reeled from the effects of the eurozone crisis……

China factory sector barely growing
BEIJING: China’s official factory purchasing managers’ index fell to an eight-month low of 50.1 in July, suggesting the sector is barely growing, while a rival HSBC survey indicated the more market-sensitive private sector is starting to recover……

More jobless in the EU
ROME: Joblessness in the eurozone hit its highest level since the single currency was born, a further sign of economic desperation as hopes erode that the bloc will be saved by its central bank this week……

Macau’s July gambling revenue growth slowest since 2009
HONG KONG: Gambling revenue in Macau, the world’s largest gambling market, inched up 1.5% in July from a year earlier, the slowest growth since the financial crisis in 2009 as a tropical storm reduced visitor numbers, compounding subdued demand from …..

SocGen profit slumps on TCW, Rosbank charges
PARIS: French bank Societe Generale (SocGen) reported a worse-than-expected 42% drop in second-quarter earnings yesterday, hit by one-off writedowns on US fund unit TCW and Russian subsidiary Rosbank……

Avon net earnings plunge 70%
NEW YORK: Avon Products Inc, the world’s largest direct-seller of cosmetics, said second-quarter profit plunged 70% as it again sold fewer items and continued to lose sales representatives in key markets. Avon shares were down 3.2% to US$15 in …..

ICE profit up 18% on good demand
NEW YORK: Intercontinental-Exchange Inc (ICE) reported an 18% increase in quarterly profit yesterday, topping expectations, as revenue rose on strong demand for the exchange and clearing house operator’s energy futures……

Better results at Harley-Davidson
NEW YORK: Harley-Davidson Inc reported a better-than-expected 29.7% rise in quarterly profit, as its success in attracting young motorcycle buyers helped push sales higher……

Travel trends boost Hyatt
NEW YORK: Hyatt Hotels Corp reported a higher quarterly profit yesterday, as increased demand and renovations aided room rates and occupancy in North America. The company said it was “encouraged” by recent travel trends of individuals and…..

Time Warner net profit lower
NEW YORK: Time Warner Inc posted lower second-quarter net income of US$429mil, as the media company saw declines in its film and TV entertainment and publishing units. Revenue in its film and TV entertainment unit fell 8% compared with a year ago……

Silver Bird sues ex-directors, ex-GM, firms and auditors
KUALA LUMPUR: Silver Bird Group Bhd has filed a suit against two of its former directors, an ex-general manager, several companies and its auditors at the Kuala Lumpur High Court claiming RM125.03mil as special damages, general damages, punitive and …..

Multi-Code surges after court judgment
KUALA LUMPUR: Multi-Code Electronics Industries (M) Bhd shares closed sharply higher yesterday, surging 38 sen to RM1.60 after the Kuala Lumpur High Court ruled in favour of the company against 11 defendants, including its former directors……

Multi-Code surges after court judgment
KUALA LUMPUR: Multi-Code Electronics Industries (M) Bhd shares closed sharply higher yesterday, surging 38 sen to RM1.60 after the Kuala Lumpur High Court ruled in favour of the company against 11 defendants, including its former directors……

George Kent ends higher after landing LRT contract
PETALING JAYA: George Kent (M) Bhd stock closed 5 sen higher to RM1.08 after the company and joint-venture partner Lion Pacific Sdn Bhd (known together as the GKM consortium) was awarded the lucrative contract for the Ampang light rail transit (LRT) …..

AmBank issues five new call warrants
KUALA LUMPUR: AmBank (M) Bhd is issuing five new European style cash settled structured call warrants over the shares of IJM Land Bhd, KLCC Property Holdings Bhd, Sunway Bhd, Bandar Raya Developments Bhd and Eastern & Oriental Bhd to meet investo…..

Halex proposes bonus issue
KUALA LUMPUR: Halex Holdings Bhd has proposed a one-for-four bonus issue under its corporate exercise which includes a share buyback of 10% of its paid-up……

KLK Islamic bonds get AA1, P1 ratings
PETALING JAYA: Kuala Lumpur Kepong Berhad’s (KLK) proposed ten-year multi-currency Islamic medium-term notes programme of up to RM1bil or the equivalent in foreign currencies have been given a preliminary long- and short-term AA1 and P1 rat…..

Daibochi dividend attractive
DAIBOCHI remains an outperform and our top pick in the flexible packaging sector. We retain our valuation basis of 10.6 times calendar year 2013 PE (price-to-earnings) based on a 20% discount to our target market PE……

Maple bid for TMX gets shareholders approval
TORONTO: The takeover of Canadian stock market operator TMX Group by a group of financial institutions has been approved by TMX’s shareholders, bringing all of Canada’s main securities exchanges under a single umbrella……

Irda plans more theme parks in Iskandar Malaysia
JOHOR BARU: Iskandar Regional Development Authority (Irda) is looking at having more theme parks in Iskandar Malaysia……

Amcorp Properties in joint venture to invest in real estatein London
PETALING JAYA: Amcorp Properties Bhd is the latest to venture into the London property market. The company announced that it had entered into a joint venture (JV) to acquire a freehold property in London via wholly owned subsidiary Old Burlington Ltd…..

Aussie house prices enjoy surprise rise
SYDNEY: House prices in Australia’s major cities recorded a surprise increase last quarter, the first in more than a year and perhaps an early sign that recent cuts in interest rates are stabilising demand in what has been a very subdued market……

MMHE sees oil prices just right for investment in O&G sector
KUALA LUMPUR: Malaysia Marine & Heavy Engineering Bhd (MMHE) believes the acquisition of Sime Darby’s fabrication yard in Pasir Gudang will bode well for the company’s future oil and gas (O&G) operations……

CPO export quota plan explained
PUTRAJAYA: The Ministry of Plantation Industries and Commodities (MPIC) has reassured palm oil industry players that the latest two million tonnes increase in the duty-free crude palm oil (CPO) export quota is only a temporary measure aimed at stock …..

KKB Engineering eyes lucrative smelting plant contract in Bintulu
KUCHING: KKB Engineering Bhd, which secured a RM171mil contract from Pertama Ferroalloys Sdn Bhd on Tuesday, is setting its eyes next on a lucrative contract to be dished out by OM Materials (Sarawak) Sdn Bhd for the construction of a manganese and f…..

BHP to focus on cost cutting
SYDNEY: The world’s biggest mining firm BHP Billiton says it will focus on cutting costs, three weeks before it is expected to report its first drop in annual profits since the 2008 global financial crisis due to weakening commodity demand……