KLSE Market

DiGi upbeat in keeping growth momentum
DiGi.Com Bhd will continue to maintain its growth momentum with solid performance in data and voice segments driven by the increase in usage and a larger subscriber base of 9.3 million. In a statement today, group chief executive officer, Henrik Cla…..

MAHB to decide on aerobridges: Kong
PUTRAJAYA — It is up to Malaysia Airports Holdings Bhd (MAHB) to decide whether to install aerobridges at the second Kuala Lumpur International Airport (KLIA2), says Transport Minister Datuk Seri Kong Cho Ha.Kong said the ministry has always tell th…..

Malaysia’s inflation accelerates in June
Malaysia’s inflation accelerated to the fastest pace in more than two years in June after power tariffs were raised, adding pressure on the central bank to resume interest-rate increases to contain price gains.Consumer prices rose 3.5 per cent from a…..

MRCB poised for re-rating: HwangDBS
Malaysian Resources Corp Bhd (MRCB) is poised for a re-rating with more sustainable earnings delivery and visible share price catalysts.HwangDBS Vickers Research, in a note today, said with the coming general election, it was also an ideal proxy, as …..

KLCC bullish on third Petronas Tower
KLCC Property Holdings Bhd expects it’s latest commercial development Lot C, to contribute about RM100 million to group revenue in the coming financial year. The current financial year ends December 31 2011. The office tower portion will be taken up …..

Mah Sing, SP Setia share sell-off ‘overdone’
Mah Sing Group Bhd and SP Setia Bhd rose in Kuala Lumpur trading after CIMB Investment Bank Bhd said the recent sell-off in the Malaysian property developers was overdone.Shares of Mah Sing climbed 7.7 per cent to RM2.39 at 10:27 a.m. local time, set…..

Opcom records higher pre-tax profit in Q1
Opcom Holdings Bhd registered a higher profit before tax of RM9.664 million for the first quarter ended June 30, 2011 from RM7.065 million previously. Turnover for the period increased to RM33.051 million from RM30.599 million previously, it said in …..

Ireka inks tenacy pact with MPI
SINGAPORE: Malaysia Property Inc (MPI) has entered into a six-month tenancy agreement with Ireka Corporation Bhd, a leading property developer listed on the Main Board of Bursa Malaysia.MPI is a non-profit government agency under the purview of the …..

Sapura Resources climbs on KLCC job
Sapura Resources Bhd agreed to build and develop an office tower, convention center and retail podium in Kuala Lumpur with KLCC (Holdings) Sdn Bhd.The agreement is part of Sapura’s plan to venture into property development, the company said in a stat…..

Tune Talk eyes 5pc Sarawak mart penetration
Mobile service provider Tune Talk Sdn Bhd is targeting a market penetration of five per cent of Sarawak’s current 2.6 million population by next year, its chief executive officer Jason Lo said today. The 36-year-old Kuching-born Lo, who was named as …..

Ajiya gains on Q2 net income jump
Ajiya Bhd, a Malaysian building materials supplier, rose to its highest level in almost a month after second-quarter net income rose 13 per cent to RM7.2 million.The stock gained 1.1 per cent to RM1.78 at 9:01 a.m. local time in Kuala Lumpur trading,…..

Mitrajaya climbs on lab complex job
Mitrajaya Holdings Bhd, a Malaysian builder, rose to a one-week high in Kuala Lumpur trading after winning a RM13.5 million contract to construct a laboratory complex.Its shares climbed 3.4 per cent to 60.5 sen at 9:05 a.m. local time, set for their …..

Intel Malaysia to boost PC penetration
Intel Malaysia today launched a six-month nationwide campaign to accelerate personal computer (PC) penetration in underserved communities. The company’s country manager (sales and marketing), Prakash Mallya, said the ‘Enter Aje’ campaign was expected…..

Toshiba (M) targets RM540m sales this year
Toshiba Sales and Services Sdn Bhd has set a sales target of RM540 million by end of 2011 after recording RM450 million last year.The higher sales would be driven by new product launches, the company’s sales and services director, Kamimura Shunji, sa…..

Star advances on TV investment
Star Publications Bhd, a Malaysian newspaper publisher, rose to its highest level in more than three months after agreeing to invest RM35 million in Hong Kong’s Li TV.The stock advanced 1.2 per cent to RM3.45 at 9:06 a.m. local time in Kuala Lumpur t…..

Malaysia July 1-20 palm oil exports up 5.4pc
Malaysia’s palm oil exports rose 5.4 per cent in the first 20 days of July from the same period in June, independent market surveyor Intertek said.A total of 1,021,729 metric tons of the commodity were tracked from July 1 to 20, versus 969,804 in the…..

Nasim opens Peugeot Balakong showroom
Nasim Sdn Bhd, the distributor for the Peugeot brand in Malaysia, today opened a new showroom in Balakong, to cater for the demand in Balakong, South Cheras, Kajang, Semenyih, Seri Kembangan, Serdang, and Bangi. Chief Operating Officer Datuk Samson …..

FBMKLCI ends 0.5pc higher
Share prices on Bursa Malaysia closed higher today on bargain hunting, dealers said. The benchmark FTSE Bursa Malaysia KLCI rose 6.95 points, or 0.45 per cent,to close at 1,562.59 after opening 2.81 points higher at 1,558.45. The index got a boost fr…..

Star makes maiden venture into TV broadcast
PETALING JAYA: Star Publications (M) Bhd is making its maiden venture into the television broadcast space by taking up a 51% stake in LI TV Holdings Ltd, which owns and operates Li, Life Inspired , a high-definition (HD) pan-regional lifestyle TV ch…..

Observers expecting more downside to the stock market
PETALING JAYA: Anxieties over the eurozone debt and uncertainty over the United States debt-ceiling negotiations have caused investors to be more cautious and observers are expecting more downside to the stock market……

Can the momentum for vehicle sales be sustained?
TOTAL vehicle sales, which surpassed the 600,000-mark for the first time in 2010, was set to continue its momentum this year……

Making use of existing infrastructure
SUGGESTIONS of reviving plans for a high-speed rail system are surfacing again. They seem to crop up every now and then……

China’s Yuan to grow in importance as international currency
KUALA LUMPUR: The yuan is poised to grow in importance as an international trading currency, in tandem with China’s rise in the global economy. HSBC Bank Hong Kong head of business planning and strategy Thomas Poon said the yuan, which he dubbed the …..

Banking giants hit
PETALING JAYA: Malaysian banking giants CIMB Group Holdings Bhd and Malayan Banking Bhd (Maybank) saw a whopping RM2.5bil wiped out of their market capitalisation since reports surfaced that the Indonesian central bank was looking at limiting single …..

Looks like a tough second quarter for listed firms
KUALA LUMPUR: Corporate Malaysia is not expected to show a good earnings report card for the second quarter despite Bursa Malaysia Bhd kicking off the earnings season with a good start by meeting market expectations……

Kencana on rating watch
KUALA LUMPUR: RAM Ratings has placed Kencana Petroleum Bhd’s bonds on rating watch on the basis that Kencana’s proposed merger with SapuraCrest Petroleum Bhd could potentially weaken its operation debt-coverage ratios……

Inari gains 6.5 sen on debut
KUALA LUMPUR: Inari Bhd made its debut on the ACE Market of Bursa Malaysia yesterday, closing 6.5 sen higher than its issue price of 38 sen……

Kurnia may ask for higher price
KUALA LUMPUR: Although no deal has been announced, analysts expect Kurnia Asia Bhd to sell Kurnia Insurans (M) Bhd at a price that values the insurer at between 2.5 times and three times book value……

RAM reaffirms PLUS sukuk ratings
PETALING JAYA: RAM Ratings has reaffirmed the AAA ratings of toll concessionaire PLUS Expressways Bhd’s RM12.72bil Sukuk Musharakah programme……

OCBC Bank to issue call warrants
PETALING JAYA: OCBC Bank (M) Bhd will be making two issuances of cash-settled European Call Warrants on MSM Malaysia Holdings Bhd and Benalec Holdings Bhd tomorrow at 15 sen each, respectively……

S-E Asian banks to focus on SMEs
PETALING JAYA: South-East Asian banks opening new branches in Malaysia in the future will likely provide services such as small and medium enterprise (SME) financing or trade financing……

HSBC plans 6 more branches
KUALA LUMPUR: HSBC Malaysia is planning to open six more branches before the end of the year. “These will primarily be HSBC Amanah Islamic banking facilities,” HSBC Bank Malaysia Bhd executive director and deputy chief executive officer Jon Addis(pic…..

Bursa posts 30% higher Q2 net profit
KUALA LUMPUR: Bursa Malaysia Bhd’s net profit soared 30% to RM35.71mil for the second quarter ended June 30, compared with RM27.50mil for the previous corresponding quarter, on higher revenue……

Gambling boost for Wynn
LOS ANGELES: Wynn Resorts Ltd posted second-quarter profit and revenue that handily topped Wall Street estimates as revenue at its Wynn Macau unit soared 36.7% and business in Las Vegas improved……

Goldman profit not to the mark
NEW YORK: Goldman Sachs Group Inc’s second-quarter net income missed market expectations by a wide margin as the investment bank’s fixed income trading revenues dropped sharply……

Number of applicants for BTO flats on the rise
SINGAPORE: The optimum flat-to-applicant ratio for public housing launches appears to be 1:2, with almost every applicant that is given a chance to pick a flat doing so……

BoA posts worst quarterly loss
CHARLOTTE: Bank of America Corp reported the biggest quarterly loss in its history, US$8.8bil, after more than US$20bil of charges linked to mortgages. The results were in the middle of the range the bank forecast in late June when it announced an US…..

iPhone powers Apple to greater sales and profit
NEW YORK (AP) — The iPhone is conquering Asia, the home of its strongest competitors. Sales there nearly quadrupled from a year ago and helped Apple Inc. trump analyst expectations for yet another quarter……

Debt hope: Obama praises ‘Gang of Six’ plan
WASHINGTON (AP) — Defying a veto threat, the Republican-controlled House passed legislation Tuesday night to slice federal spending by $6 trillion and require a Constitutional balanced budget amendment be sent to the states in exchange for averting a…..

14 arrests for alleged cyberattack on PayPal
WASHINGTON (AP) — Fourteen people were arrested Tuesday for allegedly mounting a cyberattack on the website of PayPal in retaliation for its suspending the accounts of WikiLeaks……

News Corp. independent directors hire law firm
NEW YORK (AP) — News Corp.’s nine independent directors have hired corporate law firm Debevoise & Plimpton LLP to advise them on how to oversee the internal committee set up to investigate phone hacking and police bribery allegations at the company’s…..

Walmex 2Q profit down 3%, cites store openings
MEXICO CITY (AP) — Wal-Mart de Mexico SA says store openings pushed down its second quarter profit by 3 percent……

Yahoo 2Q revenue drop overshadows earnings gain
SAN FRANCISCO (AP) — Yahoo Inc. plodded through another disappointing performance in the second quarter, a familiar script that’s wearing thin with exasperated investors……

Merkel: EU summit won’t yield quick crisis fix
HANNOVER, Germany (AP) — German Chancellor Angela Merkel dashed hopes Tuesday that the upcoming European Union summit on Greece would yield a quick and comprehensive solution to deal with the debt crisis……

Rebooting the PC industry: Tablets force a shift
SANTA CLARA, California (AP) — The personal computer industry needs a jumpstart — and it’s counting on a rescue from emerging markets and a late-to-the-party push into tablet computers……

Close ties between UK media, police scrutinized
LONDON (AP) — One senior journalist worked as a media consultant to Scotland Yard, helping to shape its public message. A second worked as a police interpreter, privy to confidential information. A third allegedly served as a police informant, passin…..

Murdoch says he’s staying, and investors like it
LOS ANGELES (AP) — Rupert Murdoch said he was the best person to clean up News Corp. Investors agreed……

US stocks rebound on earnings, debt-limit proposal
NEW YORK (AP) — Strong profits and a bipartisan plan to lift the U.S. debt limit drove a stock market rebound Tuesday……

Moody’s eyes debt downgrade for 5 top-rated states
NEW YORK (AP) — Moody’s Investors Service warned Tuesday that it probably will lower the credit rating on five states if it downgrades the U.S. government’s credit rating……

Oil higher on weaker US$, stronger home starts
NEW YORK (AP) — Oil reversed direction again Tuesday, rising 2 percent as traders took their cues from the dollar and stock markets……

Can Asia escape if US debt is downgraded or there is a default?
SINGAPORE: For Asia, the deepening debt troubles in the West are like a giant asteroid on a collision course – too big to dodge or ignore and yet difficult to pinpoint where the worst damage will be done. With roughly US$3 trillion of reserves held i…..

Options for private role in Greece
BRUSSELS: Eurozone officials examined three broad options for securing the private sector’s involvement in a second bailout package for Greece during a teleconference last week, a document obtained by Reuters showed……

Borders unable to find white knight
NEW YORK: Borders Group Inc, the second-largest US bookstore chain, said it had cancelled an upcoming bankruptcy auction and would close its doors for good……

BAA told to sell Stansted airport
LONDON: British airport operator BAA must begin selling off London Stansted airport and one of its Scottish hubs, Britain’s Competition Commission said in its final report on BAA’s position……

Samsung sets Galaxy S II’s US rollout for August
SEOUL, South Korea (AP) – Samsung says its top line Galaxy S II smartphone will be released in the United States next month……