KLSE Market

Kenanga cuts Utd Malacca’s target price
Kenanga Research cut its target price for palm oil firm United Malacca Bhd to RM7.70 from RM8.00 after the firm announced weaker Q4 earnings.Year-on-year net profits for Q4 dropped 46 per cent to RM12.3 million due to higher fertilizer costs and lowe…..

Felda Global surges on KL listing debut
Felda Global Ventures Holdings Bhd, the world’s third-biggest oil palm planter, jumped as much as 20 per cent in its Kuala Lumpur debut, after raising US$3.3 billion in the biggest initial public offering since Facebook Inc.’Foreign investors haven’t…..

UMW unit to acquire another drilling rig
UMW Oil and Gas Corp Sdn Bhd (UMW-OGC), a wholly-owned unit of the UMW Group, will acquire another jack-up drilling rig toexpand its capacity.Its president, Rohaizad Darus, said UMW always evaluated the market situation especially in the drilling ind…..

Berjaya posts lower pre-tax Q4 profit
Berjaya Corporation Bhd’s pre-tax profit declined to RM161.796 million for the fourth quarter ended April 30, 2012 fromRM261.61 million registered in the same quarter last year.Revenue slipped to RM1.809 billion from RM1.872 billion previously,said t…..

Time dotCom strengthens growth potential
TIME dotCom Bhd has strengthened its growth potential with the recent completion of the acquisition of three companies within the telecommunications industry.This has immediately expanded TIME’s revenue source to 11 other countries aside from Malaysi…..

MCE gets Proton parts contract
Multi-Code Electronics Industries (M) Bhd (MCE) has received letters of acceptance from Perusahaan Otomobil Nasional SdnBhd (Proton) to supply parts for a new car model.In a filing with Bursa Malaysia today, MCE said the five-year contract was for th…..

FGVH eyes African market
FELDA Global Ventures Holdings Bhd (FGVH), which made its debut on the Main Market of Bursa Malaysia at RM5.39 per share,is looking to penetrate a number of markets in the African continent. ‘We will implement the Felda model — a successful social e…..

TM signs service agreement with IJM Land
Telekom Malaysia Bhd (TM) today signed a service agreement with IJM Land Bhd for the provision of high speed broadband (HSBB) infrastructure in Saujana Duta at S2 Heights, Seremban 2, here.With the collaboration, IJM land will be the first property d…..

Thailand seeks to limit rubber exports
Thailand, the largest rubber producer, will discuss with Indonesia and Malaysia possible limits on shipments from the countries that represent about 70 per cent of global supply in a move to boost plunging prices.’If necessary, there will be a limit …..

Poh Kong’s Q3 profits rises to RM15.87mil
Poh Kong Holdings Bhd’s pre-tax profit rose to RM15.87 million for the third quarter ended April 30, 2012 from RM12.722 million chalked up in the same quarter last year.Revenue advanced to RM192.342 million, during the period under review, from RM169…..

Silk gets RM23.7mil contract from Talisman
SILK Holdings Bhd has secured a RM23.725 million extension contract from Talisman Malaysia Ltd to provide an anchorhandling tug supply vessel.The contract, secured via its subsidiary, Jasa Merin (Malaysia) Sdn Bhd, commenced on June 19, 2011, and had…..

TA Enterprise posts lower Q1 profits
TA Enterprise Bhd posted a lower pre-tax profit of RM31.5 million for the first quarter ended April 30, 2012 compared with RM55.3 million chalked up in the corresponding quarter last year.However, revenue rose to RM176.2 million from RM174.7 million……

LBS Bina to meet RM800 mil sales target
Property developer, LBS Bina Group Bhd, is confident of meeting its sals target of RM800 million this year through itsvarious product offerings.In a statement here, its managing director, Datuk Lim Hock San, said as of yesterday, the company has reco…..

Hai-O Q4 profit rises to RM13.27mil
Hai-O Enterprise Bhd recorded a slightly higher pre-tax profit of RM13.27 million for the fourth quarter ended April 30,2012 compared to the RM12.392 million seen in the same period last year.Revenue rose to RM69.436 million from the RM58.26 million …..

Gamuda records higher profit for Q3
Gamuda Bhd announced a higher pre-tax profit of RM196.03 million for the third quarter ended April 30, 2012 compared with RM158.37 million in the previous corresponding quarter.Revenue for the quarter increased to RM705.86 million from RM621.20 milli…..

TA Global Q1 profit dips to RM21.6mil
TA Global Bhd registered a pre-tax profit of RM21.6 million for its first quarter ended April 30, 2012, down from the RM39.6 million recorded in the corresponding quarter last year.However, revenue rose to RM146.0 million from RM137.2 million.In a fi…..

Malaysia Steel climbs on supply deal
Malaysia Steel Works (KL) Bhd climbed 2 per cent to RM1.02 in Kuala Lumpur trading at 9.27am, poised for its highest close since May 30. The steelmaker signed an offtake agreement to supply steel products valued at RM500 million (US$157 million) to T…..

TH Heavy hopes to exit PN17 status
TH Heavy Engineering Bhd (TH Heavy), a Lembaga Tabung Haji (LTH) associate company and formerly known as Ramunia Holdings Bhd, is in the process of applying to Bursa Malaysia for the upliftmentof its PN17 status.TH Heavy Chairman Datuk Azizan Abd Rah…..

Govt to investigate import of steel rods
The government will initiate a preliminary investigation on the import of steel wire rods from five countries, Chinese Taipei, China, Indonesia, South Korea and Turkey.’The government has determined that there was sufficient evidence of dumping, inju…..

Sabah plans to set up SME Village
The Sabah government plans to set up a one-stop centre for small and medium enterprises (SMEs) to promote, market and sell their products.State Industrial Development Minister, Datuk Raymond Tan Shu Kiah, said the centre, to be known as SME Village, …..

BMW Malaysia gets new president
BMW Group Malaysia has appointed Dr Gerhard Pils as president effective July 1 this year. In a statement today, BMW said the appointment followed the departure of incumbent president Geoffrey Briscoe, who has been promoted to a new position within th…..

Rubber prices close on mixed note
The Malaysian rubber market closed mixed today on lack of positive leads, dealers said.A dealer said the market was range-bound throughout the day despite reports of the decline in Japanese stocks. ‘Overall, the market was weak amid concerns over the…..

Ringgit eases against US dollar at close
The ringgit eased against the greenback at closing today as market players took the cue from possible positivedevelopments ahead of the European Union Leaders’ summit starting later today, dealers said. At 5pm, the ringgit was traded lower at 3.1955/…..

KL shares end lower on selling pressure
Share prices on Bursa Malaysia closed lower today on across the board selling pressure in key bluechip counters with the FTSE Bursa Malaysia KLCI (FBM KLCI) at 1,594.24, down 7.65 points.The key index had opened slightly higher by 0.52 of a point at …..

US stocks higher ahead of EU summit
NEW YORK: A rebound in US durable goods orders in May, a sign of firmer action in US industry, helped push US stocks higher Wednesday in the wake of European and Asian markets.All sectors except discretionary consumer goods were higher, as traders sh…..

Gamuda Q3 earnings up 18.3% to RM138m on-yr
Infrastructure-based Gamuda Bhd’s earnings rose 18.3% to RM138.01mil in the third quarter ended April 30, 2012 from RM116.63mil a year ago, boosted by the construction and property divisions……

FGV closes up 75 sen to RM5.30 amid cautious market
Felda Global Ventures Bhd (FGV) was in the limelight on Thursday, making a firm debut on the Main Market, amid the cautious regional and European bourses……

Govt probes imports of steel wire rods from Taiwan, China, Indonesia, Korea and Turkey
The Malaysian government is launching a preliminary investigation into the imports of steel wire rods from Taiwan, China, Indonesia, South Korea and Turkey……

Rights group says Apple suppliers in China breaking labor laws
HONG KONG: Apple Inc’s suppliers in China have violated local labor laws when they imposed excessive overtime and skimped on insurance, a New York-based labor rights group said……

UK house prices drop in June-Nationwide
LONDON: British house prices fell back in June with the annual pace of decline reaching its highest rate for almost three years as the economy remained weak with little sign of a bounce back, mortgage lender Nationwide said on Thursday……

Konsortium Transnasional expects RM2m monthly revenue from tablet rentals
Konsortium Transnasional Bhd (KTB) aims to rake in an additional revenue of RM2mil every month via its latest offering of lifestyle entertainment tablet to its express bus passengers……

KLCC Property shares advance on REIT option
Shares of KLCC Property Holdings Bhd (KLCCP) rose to a high of RM4.32 on Thursday after it announced plans to look into the setting up of a real estate investment trust (REIT)……

Tradewinds (M) shareholders approve RM510m building acquisition (Update)
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Public bank, Genting weigh on KLCI, FGV shines
Mild selling of Public Bank and Genting shares dragged the FBM KLCI into the red at midday on Thursday as investors took profit while Felda Global Ventures (FGV) was the top performer on its trading debut……

KLCC Property exploring REIT option
KLCC Property Holdings Bhd (KLCCP) is exploring the setting up of a real estate investment trust (REIT) or equivalent to optimise shareholder value……

MBF selling card, payment services business
MBF Holdings Bhd is undertaking a tender process to sell its card and payment services business……

Felda Global in focus, KLCI at 1,600
Felda Global Ventures (FGV) was in focus in early trade on Thursday, surging to a high of RM5.46 while the broader market was mixed……

Felda Global Ventures to focus on upstream business
Felda Global Ventures Holdings Bhd (FGV), which made a strong debut on Bursa Malaysia on Thursday, will focus on the upstream business to be among the leading players in oil palm, rubber and sugar……

CIMB Research maintains Trading Buy on WCT
CIMB Equities Research is maintaining a Trading Buy on WCT Bhd and not an Outperform due to the political overhang on the sector. The target price remains at RM3.05……

HDBSVR sees KLCI challenging 1,610
Hwang DBS Vickers Research said the FBM KLCI, which is just above 1,600 currently, is poised to pull away from the psychological mark on Thursday……

Felda Global sees bids at RM5.30 at 8.36am
Felda Global Ventures Holdings Bhd (FGVH) sees bids at RM5.30 on Thursday ahead of listing on the Main Market of Bursa Malaysia……

RHB Research maintains Underperform on MMHE at RM3.64
RHB Research Institute maintains its Underperform call on Malaysia Marine and Heavy Engineering (MMHE) at RM3.64 on concerns the company’s depleting order book is still at risk……

Stockton city in California to file for bankruptcy(update)
STOCKTON, California: Stockton city in California is expected to file for bankruptcy before the end of the week, becoming the largest U.S. city to seek protection from its creditors. No one in the city of nearly 300,000 is relishing the prospect, tho…..

Felda Global world’s 2nd largest IPO this year, opens at RM5.39
Felda Global Ventures Holdings Bhd (FGVH) opened at RM5.39, or 84 sen above its institutional price of RM4.55 sen, in its much-anticipated debut on the Main Market of Bursa Malaysia on Thursday. The retail price was RM4.45……

Wall Street gains on data, rising oil prices
NEW YORK: Stocks rose on Wednesday as stronger-than-expected economic data helped lift energy stocks, overshadowing concerns a European Union summit will not yield tangible progress in easing the debt crisis……

Google goes up against Amazon, Apple with Nexus tablet
SAN FRANCISCO: Google Inc will sell its first tablet from mid-July for $199, hoping to replicate its smartphone success in a hotly contested market now dominated by Amazon.com Inc’s Kindle Fire and Apple Inc’s iPad……

Big plans for Lumut port
KUALA LUMPUR: Lumut port operator Integrax Bhd hopes to resume talks with Brazilian iron ore giant Vale International SA even though their agreement lapsed two years ago……

Maxis set to launch IPTV service next month
KUALA LUMPUR: Maxis Bhd is set to launch its Internet Protocol Television (IPTV) offering next month. While the company says its offering will be competitive, market observers are hoping that Maxis’ rates will be lower than its competitors so that th…..

Securities Commission wins another battle against market manipulators
PETALING JAYA: The Securities Commission (SC) has won another battle against market manipulators after the Court of Appeal decided in the regulator’s favour to increase the punishment meted on former Fountain View Development Bhd director Datuk Chin …..

Bullish views on Felda IPO
KUALA LUMPUR: Felda Global Ventures Holdings Bhd’s (FGV) listing today will be a closely-watched affair by the world and, going by expectations of fund managers and analsyts, the share price of the world’s second largest listing this year is expected…..

Felda’s lower Q1 figures already explained in prospectus
PETALING JAYA: Felda Global Venture Holdings Bhd’s (FGV) lower first quarter (Q1) results were due to a combination of factors such as changes to its business model, lower crude palm oil prices for the period concerned and peak fertiliser costs……

Towards a competent workforce in M’sia
WHILE it is the leaders who visualise the direction of a corporation, institution or society, it is the workforce or people involved who eventually transform that vision into reality……

Public and private sectors need to meet challenges
THE challenge in improving the country’s workforce does not stop at upgrading and upskilling the employees……

Exim bank said to be looking at launching RM1.6bil dollar bond
KUALA LUMPUR: After successfully selling its inaugural US$500mil (RM1.6bil) 5.5-year dollar bonds which was oversubscribed by six times, Export-Import Bank of Malaysia Bhd (Exim Bank) is looking at launching a similar bond issue with at least the sam…..

RM12bil NCER target
KUALA LUMPUR: The Northern Corridor Implementation Authority (NCIA) aims to attract RM12bil investments this year……

Overseas expansion key in future Islamic capital market
KUALA LUMPUR: The next phase of growth of the Islamic capital market would be characterised by greater internationalisation, which would see more product as well as service providers expanding beyond their home market…..

Withdrawal of CIMB support for a debt restructuring exercise remains a big question mark
PETALING JAYA: It remains unclear why CIMB Bank Bhd withdrew its support for a debt restructuring exercise involving the beleaguered Asia Petroleum Hub Sdn Bhd (APH) and its multi-million debt problem but the implications on Muhibbah Engineering Bhd …..

Maybank has ceased to be substantial shareholder of Luster
KUALA LUMPUR: Malayan Banking Bhd (Maybank) had on June 25 disposed of about 53 million ordinary Luster Industries Bhd shares of 11 sen each……

Boustead to buy stake in Johan Ceramics for RM29mil
PETALING JAYA: Boustead Holdings Bhd is acquiring a 97.14% stake in Johan Ceramics Bhd from Lembaga Tabung Angkatan Tentera (LTAT) for RM28.86mil cash or 35 sen each……

Support Line
K.M. Lee writes on PNE PCB, Scientex and Watta Holding…..

TSH proposes merger with Pontian United Plantations
KUALA LUMPUR: TSH Resources Bhd hopes to create more value via economies of scale through integrating with Pontian United Plantations Bhd (PUPB), a public but unlisted plantation firm……

Digistar moving to main board today and said to start new ops
PETALING JAYA: Digistar Corp Bhd, which transfers its listing status to the Main board of Bursa Malaysia today from the ACE market, has obtained a licence to install central monitoring systems nationwide for specific public and private sectors……

Guan Chong eyes more institutional investors from its secondary listing in S’pore
JOHOR BARU: Cocoa-derived food ingredients maker Guan Chong Bhd hopes to attract more institutional investors from its secondary listing in Singapore……

Malaysian shares close on mixed note
The FTSE Bursa Malaysia KLCI (FBM KLCI) finished above the 1,600-level, taking cue from gains on regional markets, dealers said……

Ex-MAS deputy CEO sold shares
PETALING JAYA: Former Malaysia Airlines (MAS) deputy chief executive officer Mohammed Rashdan Yusof has disposed a total of 901,900 shares (or 0.027%) in the company at an average price of RM1.16……

Perisai’s acquisitions in 2011 will contribute to FY12 earnings
PETALING JAYA: Perisai Petroleum Bhd’s acquisition of a 51% stake in Intan Group and the entire equity interest in Garuda Energy (L) Inc will contribute to its earnings for the financial year ending Dec 31. Both these acquisitions were made in 2011……

MTD ACPI to kick-start MRT job
KUALA LUMPUR: Manufacturing and construction outfit MTD ACPI Engineering Bhd expects to start work on the viaduct work package worth RM499.98mil for the MRT Sungai Buloh-Kajang (SBK) line by Aug 7……

Former client takes dispute with WCT to Dubai Courts
KUALA LUMPUR: WCT Bhd’s former client, Meydan LLC, has brought the contract dispute over the construction of Nad Al Sheba Dubai Racecourse to Dubai Courts, counter-claiming against WCT and its joint-venture partner, Arabtec Construction LLC, for a to…..

Malton, Southcon in share sale deal
KUALA LUMPUR: Malton Bhd has entered into a share sale agreement (SSA) with Southcon Builders Sdn Bhd for the disposal of its entire interest in Austin Heights Sdn Bhd comprising one million ordinary shares of RM1 each for RM34mil cash……

Faber to continue expanding integrated facilities management division
KUALA LUMPUR: Faber Group Bhd will continue to expand its integrated facilities management (IFM) business locally and overseas by targeting commercial buildings apart from hospitals……

Scomi Group to tender US$1b oil and gas contracts next year
KUALA LUMPUR: Scomi Group Bhd expects to tender about US$1bil (RM3.19bil) in oil and gas services contracts within the next year……

Deleum finalising M&A deals, says MD
KUALA LUMPUR: Oil and gas service provider Deleum Bhd expects to be busy with corporate exercises over the next two quarters, especially in regards to its merger and acquisition (M&A) plan……

Ho Wah signs deals for energy-efficient jobs
PETALING JAYA: Ho Wah Genting Bhd has signed two project management agreements to carry out energy-efficient-related jobs for the Government……

Gas supply boost for TNB
TENAGA NASIONAL BHD …..

MMHE wins RM278m jobs from Sarawak Shell
PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) has secured three contracts worth RM278mil from Sarawak Shell Bhd to build topside, process module and jacket for the latter’s oil and gas operations……

Masteel signs RM500m supply accord
KUALA LUMPUR: Malaysian Steel Works (KL) Bhd (Masteel) has sealed a RM500mil offtake agreement with Switzerland-based Trafigura Pte Ltd, the world’s second-largest bulk commodity trader for a three-year supply of 270,000 tonnes of steel billets and s…..

MAS to open China rep office
BEIJING: The Monetary Authority of Singapore will set up a representative office in China, becoming the seventh foreign central bank to have a presence in the world’s No. 2 economy, according to the People’s Bank of China……

Tan Chong MD resigns
KUALA LUMPUR: Tan Chong Motor Holdings Bhd (TCMH) managing director Tan Eng Soon has resigned from his post effective June 30……

Larsen named Citi global retail head
HONG KONG: Citigroup Inc has named Jonathan Larsen as global head of its retail bank, filling the position for the first time with an Asia-based banker, in a move underscoring the company’s growth in the region……

Barclays to pay US$450mil in Libor settlement
WASHINGTON: British bank Barclays will pay at least US$450mil to US and British authorities to settle a probe into manipulation of the key interbank lending rate known as Libor……

BoC first Chinese bank in Taiwan
TAIPEI: The Bank of China became the first Chinese lender to open a branch in Taiwan yesterday in the latest sign of improving ties between Taipei and Beijing……

Judge halts sales of Samsung Galaxy Tab in US
SAN FRANCISCO: A US judge on Tuesday backed Apple Inc’s request to stop Samsung Electronics selling its Galaxy Tab 10.1 tablet in the United States, giving the iPhone maker a significant win in the global smartphone and tablet patent wars……

EU approves Spanish state aid, guarantees for Bankia
BRUSSELS: The European Union’s executive arm approved yesterday a 4.5-billion-euro package of Spanish state aid and a 19-billion-euro guarantee from Madrid for troubled Bankia……

World Bank sees steep growth slowdown in east EU due to eurozone
PRAGUE: The impact of the eurozone debt crisis and the global economic slowdown will cut growth in half in the European Union’s developing east, but the region’s economies will accelerate again in 2013, the World Bank said yesterday……

Spain issues warning
MADRID: Spain cannot finance itself for long at the high rates it now pays on the markets, Prime Minister Mariano Rajoy warned on the eve of a European Union summit……

KPN shareholder’s sale makes way for Slim
AMSTERDAM: Mexican billionaire Carlos Slim appeared to have outflanked management at KPN on Tuesday to take effective control of the Dutch telecoms group after KPN’s only other major shareholder cut its stake by more than half……

Santos LNG project cost blows out to US$18.5bil
PERTH: Santos hiked the cost of its Gladstone LNG project on Thursday by 15 percent to $18.5 billion, saying it needs to find more gas ahead of a planned 2015 start-up, adding to evidence about the challenges facing Australia’s coal seam gas industry…..

Moody’s downgrades 11 Brazilian banks
NEW YORK: Moody’s Investors Service said it had downgraded the ratings of 11 Brazilian financial institutions in line with its review of global banks……

Barclays paying US$453mil to settle Libor probe
WASHINGTON/LONDON: U.K. bank Barclays will pay $453 million to U.S. and British authorities to settle allegations that it manipulated key interest rates, increasing pressure on other banks to cooperate in a probe that could cost the financial industr…..

News Corp board approves company split
NEW YORK: The board of News Corp approved in principle splitting the US$60 billion media conglomerate into separate publishing and entertainment businesses, the Wall Street Journal reported on its website, citing a person familiar with the situation……

China dairy recalls hundreds of cartons of tainted milk
BEIJING: A Chinese dairy company has recalled hundreds of cartons of milk after a mechanical error tainted the batch with alkaline water, the latest blow to China’s scandal-plagued dairy industry……

ANALYSIS-Bankruptcy no quick fix for weak local U.S.
NEW YORK: U.S. cities and other local governments stung by sour regional economies and d eep housing crises are most at risk of becoming the next St ockton. But they will do all they can to avo id following the California city into federal bankruptcy…..

Google’s digital glasses move out of lab and closer to reality
SAN FRANCISCO: Google Inc expects to roll out a consumer version of its electronic eyewear that can live-stream images and audio and perform computing tasks in less than two years, though it stopped short of putting a price tag on the “”smart”" glass…..

UK house prices drop in June-Nationwide
LONDON: British house prices fell back in June with the annual pace of decline reaching its highest rate for almost three years as the economy remained weak with little sign of a bounce back, mortgage lender Nationwide said on Thursday……

UK house prices drop in June-Nationwide
LONDON: British house prices fell back in June with the annual pace of decline reaching its highest rate for almost three years as the economy remained weak with little sign of a bounce back, mortgage lender Nationwide said on Thursday……