KLSE Market

Genting doubles spending on NY lobbyists
Genting Bhd, which controls Asia’s second-biggest casino operator by market value, almost doubled its spending on New York lobbying in the six months before Governor Andrew Cuomo proposed that the company build the largest U.S. convention center in N…..

‘Felda Global business model must change’
Felda Global Ventures Sdn Bhd’s (FGV) current business model, which is heavily dependent on crude palm oil (CPO) prices is not sustainable, its president and chief executive, Datuk Sabri Ahmad said.’Relying heavily on one segment, exposes the company…..

Malaysia property prices seen rising 20pc
Malaysian property prices are expected to rise by as much as 20 per cent in the first half of the year, the country’s Real Estate and Housing Developers Association said following a survey of its members.This is due to higher construction costs and i…..

DiGi Q4 net profit rises to RM394m
DiGi.Com Bhd said fourth-quarter net income rose to RM394.2 million from RM332.03 million a year earlier, according to a statement to the Kuala Lumpur stock exchange. — Bloomberg…..

Unisem, Malaysian Pacific upgraded
Unisem (M) Bhd and Malaysian Pacific Industries Bhd rose in Kuala Lumpur trading after both stocks were upgraded to ‘market perform’ from ‘underperform’ at RHB Capital Bhd.Unisem advanced 2.4 per cent to RM1.28 at 9:17 a.m. local time, while Malaysia…..

Ekuiti invests in Revenue Valley Group
Ekuiti Nasional Bhd (Ekuinas), the government-linked private equity fund management company, today said that it had invested RM64.7 million for 85.76 per cent interest in Revenue Valley Group, a fast growing food and beverage (FandB) group in Malaysi…..

MyCC still waiting for MAS, AirAsia response
Malaysia Competition Commission (MyCC), which has asked Malaysia Airlines (MAS) and AirAsia Bhd to produce documents and collaboration agreement on the share swap deal, is still awaiting response. It has taken the initiative on its own accord to stud…..

Bursa Malaysia likely to post lower Q4 profit
MIDF Research says Bursa Malaysia Bhd’s fourth quarter net profit for financial year 2011 is likely to be lower by seven per cent due to decline in daily average trading volume (DATV) for equities.The net profit is likely to be around RM36 million wh…..

Bursa queries DBE Gurney on price jump
Bursa Malaysia Securities Bhd issued an unusual market activity note to D.B.E. Gurney Resources Bhd today querying the company over its recent sharp price increase and turnover. As at 9.56am, D.B.E Gurney was half-a-sen higher at 11.5 sen while its w…..

Media Shoppe faces query as share jump
The Media Shoppe Bhd, a developer of Internet sites, doubled to 18 sen, headed for its highest close since Dec 11, 2007. This prompted the stock exchange regulator to issue a query on the stock’s unusual market activity, according to a company statem…..

Pacts on due diligence on Media Shoppe
The Media Shoppe Bhd (TMS) has signed two separate heads of agreements with Open Adventure Sdn Bhd and Viewnet ComputerSystem Sdn Bhd. Under the agreements, TMS will commence due diligence on Open Adventure and Viewnet to verify their background incl…..

Pavilion REIT to spend RM13.5m on fashion avenue
Pavilion REIT Management Sdn Bhd will spend RM13.5 million to transform 68,000 square feet of space into a fashion avenue at Pavilion Kuala Lumpur Mall. In a statement today, it said the initiative was scheduled to commence bythe end of the first qua…..

CPO prices likely to remain firm in 2012
Crude palm oil prices may remain ‘firm’ this year as Brent crude oil prices advance on rising geo-political tension in the Middle East and as uncertain weather conditions boost soybean oil prices, according to the Malaysian Palm Oil Board.Production …..

Inflation in Asean to ease except Singapore
Merrill Lynch (Singapore) Pte Ltd expects inflation in Asean countries to ease this year on the back of deflationary forces from a slowing global economy, says Economist, Global Research Chua Hak Bin.’Headline inflation should ease to the mid or lowe…..

CIMB Thai profit rises by 58.8pc
The net profit of CIMB Thai Bank Plc and its units rose by 58.8 per cent to 1,316.4 million Baht (1 Baht = RM0.0979) from 828.8 million Baht last year, its president and chief executive officer Subhak Siwaraksa said. The increase mainly arose from s…..

OldTown to build factory for RM36.7m
OldTown Bhd has awarded a RM36.65 million construction tender, to Sg Besi Construction Sdn Bhd, to build a new factory in Hulu Kinta, Perak, for its wholly-owned subsidiary, White Cafe Sdn Bhd. The new factory will comprise a two-and-a half storey fa…..

Smartag Solutions, John Harith inks deal
Smartag Solutions Bhd today signed a memorandum of collaboration with John Harith Technology Sdn Bhd (John Harith) to allow the latter to use Smartag’s Smartrack software within Brunei for its halal traceability project. In a filing to Bursa Malaysia…..

Poly Glass gains most in more than month
Poly Glass Fibre (M) Bhd, a Malaysian manufacturer of fiber-glass wool, gained the most in more than a month in Kuala Lumpur trading after third-quarter net income almost tripled to RM3.4 million. The stock climbed 4.8 per cent to 33 sen at 9:20 a.m……

‘No cause for alarm over Tropicana juice’
Permanis Sdn Bhd has reassured customers that all Tropicana Twister juices manufactured here meet all Malaysia’s strict manufacturing and health guidelines. ‘Consumer safety is paramount to Tropicana and we are committed to providing products that ar…..

Bursa reprimands, fines dealer
Bursa Malaysia Securities Bhd has publicly reprimanded and fined Heah Sieu Tee RM50,000 for engaging in false trading activities involving the securities of Kenmark Industrial Co.(M) Bhd. The exchange also said that Heah, a commissioned dealer’s repr…..

Tambun Indah proposes rights issue, warrants
Property developer, Tambun Indah Land Bhd, is proposing a rights and warrant issue, on the basis of two rights share and one free warrant for every five existing shares held. In a statement today, the rights issue price has not been fixed, but will b…..

Themed Attractions secures partnerships worth RM6m
Themed Attractions and Resorts Sdn Bhd has secured seven new corporate partnerships worth RM6 million for indoor educational and entertainment theme park, KidZania Kuala Lumpur. Joining the existing partners are Airtime Management and Programming Sdn…..

Ingress Corp aims to expand dealership
Automotive components manufacturer Ingress Corporation Bhd is exploring opportunities to expand its dealership business. The company’s wholly-owned unit Ingress Auto Sdn Bhd is a BMW dealer. Executive Vice Chairman/Group CEO Datuk Rameli Musa said: ‘…..

KL shares close marginally lower
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 fell 0.57 point, or less than 0.1 per cent, to 1,516.81.Semico…..

Zhulian Corp pre-tax profit rises to RM115m
Zhulian Corporation Berhad’s pre-tax profit for the financial year ended Nov 30, 2011 rose to RM115.072 million from RM105.897 million in 2010. Revenue increased to RM357.542 million from RM322.611 million previously, the company said in a filing to …..

Quill Capita Trust advances to RM1.13
Quill Capita Trust rose 1.8 per cent to RM1.13, set for its highest close since Feb 8. The property trust’s 2011 net income grew 5.4 per cent to RM34.3 million from a year earlier, according to a stock exchange filing. — Bloomberg…..

Pantec climbs on higher Q3 earnings
Pantech Group Holdings Bhd, a Malaysian steel-products maker, rose to the highest level in more than five months in Kuala Lumpur trading after third- quarter net income jumped 70 per cent to RM10.3 million. The stock gained 4.8 per cent to 54.5 sen a…..

Ajiya adds 2.4pc on 9pc profit growth
Ajiya Bhd, a supplier of building materials, added 2.4 per cent to RM1.70, set for its steepest increase since Oct. 28.Fourth-quarter net income grew 8.8 per cent to RM4.53 million ($1.5 million) from a year earlier, the company said in a stock exch…..

1.5pc payout for Amanah Saham Sarawak
Amanah Saham Sarawak Berhad (ASSB) today announced an interim cash distribution of 1.50 per cent or equivalent to 1.5 sen per unit for the state unit trust fund, Amanah Saham Sarawak (ASSAR) unit holders, for the first half of its financial year endi…..

Energizer Malaysia launches new campaign
Energizer Malaysia has launched a major campaign, That’s Positivenergy, which is expected to change the way its consumers work together to make a positive difference to the world. In a statement today, Energizer Malaysia said the campaign supports th…..

Wall St gains 1pc as IMF gives Europe hope
NEW YORK: Stocks jumped to their highest since July on Wednesday as the International Monetary Fund sought to help countries hit by the European debt crisis, while forecast-beating earnings from Goldman Sachs dispelled some worries over bank profits…..

FBM KLCI closes marginally lower
The FBM KLCI is down 0.04% to 1,516.81 at Thursday’s close as traders take profit ahead of the Lunar holidays……

DRB-Hicom plans tie-ups for Proton with strategic partners to boost its export markets
PETALING JAYA: DRB-Hicom Bhd will initiate partnerships between Proton Holdings Bhd and its foreign strategic partners to assist the national carmaker in its foray into the global market……

Government eyes hybrid carmakers
KUALA LUMPUR: The Government is talking to several multinational automotive companies on the possibility of them assembling hybrid cars in Malaysia for the Asean market……

Khazanah’s profit up on divestments
KUALA LUMPUR: Khazanah Nasional Bhd’s profit before tax for the financial year ended Dec 31, 2011 surged 156% to RM5.33bil from RM2.08bil in the previous year due to divestments in its stable of companies……

Worst over for TNB?
KUALA LUMPUR: The worst appears to be over for Tenaga Nasional Bhd (TNB). Despite the national power utility company still reporting its third consecutive quarterly losses for the first quarter ended Nov 30, 2011, it may see the light at the end of t…..

ABN picks Motorola Mobility as main technical partner
KUALA LUMPUR: Asian Broadcasting Network (ABN), the upstart digital cable TV company which intends to roll out its services in the country by mid-year, has picked Motorola Mobility as its main technical partner……

Reasons for the rise of E&O still unclear
PETALING JAYA: Eastern & Oriental Bhd (E&O) share price has been on an uptrend in recent days with dealers still unclear of the reasons why……

CI on the lookout for weak companies
KUALA LUMPUR: CI Holdings Bhd group managing director Datuk Johari Abdul Ghani said CI Holdings Bhd’s next acquisition target is one where management is weak and has limited abilities to raise funds. Size does not matter, and the acquisition target c…..

China Stationery inks agreement
KUALA LUMPUR: Integrated plastic stationery company, China Stationery Ltd, en route for a listing on Bursa Malaysia Securities Bhd by the first quarter of this year, has signed an underwriting agreement with its adviser, underwriter and placement ag…..

HELP International invests RM20mil
KUALA LUMPUR: HELP International Corporation Bhd is set to invest RM20mil to establish HELP International School in Subang……

December inflation up, price growth slower
PETALING JAYA: Inflation as measured by the consumer price index (CPI) gained 3% in December 2011 from a year earlier as prices of food remained elevated even as prices of non-food items gradually dropped……

DBE Gurney rise on possible private placement
PETALING JAYA: Integrated chicken company DBE Gurney Bhd’s shares were the most heavily traded of the day on rumours that the company was looking to undertake a 10% private placement which may possibly see the entry of a new shareholder……

RedTone trims losses on higher data revenue
PETALING JAYA: RedTone International Bhd narrowed its losses to RM82,000 in its second quarter ended Nov 30, 2011 from RM915,000 in the previous corresponding period on higher revenue from its data business and China operations……

Brahim’s gets invite to take 60% stake in Admuda
KUALA LUMPUR: Brahim’s Holdings Bhd (BHB) said it has received an invitation to take up to 60% equity interest in Admuda Sdn Bhd for a consideration of up to RM20mil……

Nationwide Express injects RM6mil
SHAH ALAM: Nationwide Express Courier Services Bhd is injecting RM6mil to buy 29 new pick-up trucks and container lorries to improve its courier service operations country-wide……

Petronas to host WGC 2012
KUALA LUMPUR: Petroliam Nasional Bhd will host the 25th World Gas Conference (WGC 2012) here from June 4-8, 2012 with the theme Gas: Sustaining Future Global Growth ……

CLSA sees slower economy in year of Black Water Dragon
PETALING JAYA: The Credit Lyonnais Securities Asia (CLSA) Feng Shui Index (FSI) has predicted a slow start to the year, with “the Dragon sinking like a sun-cracked crocodile back into its lagoon.”…..

Major overhaul at Proton needed
WHEN Datuk Seri Mohd Khamil Jamil addressed the media on DRB-Hicom Bhd’s takeover of Proton Holdings Bhd yesterday, the managing director of DRB-Hicom was coy about the details and clarity of his plans for Proton……

Insurers: Rates revision timely
KUALA LUMPUR: The recent revision in motor tariff premium rates, effective since Monday, will not significantly boost motor insurers’ premium income or see more motor insurance being underwritten……

Fitch revises Labuan Reinsurance outlook to negative
PETALING JAYA: Labuan Reinsurance (L) Ltd’s outlook has been revised to negative from stable by Fitch Ratings, although the insurer’s financial strength rating has been affirmed at A- ……

Naza TTDI expanding to Penang
KUALA LUMPUR: Naza TTDI Sdn Bhd will commence works on its first out-of-Klang Valley project in Bertam, Penang next year……

Rolls-Royce wins Malaysian orders
KUALA LUMPUR: Rolls-Royce, the global power systems company, has won an order for gas turbines and compression equipment for the Tapis oil and gas field, offshore Malaysia.       …..

L&G seeks more landbank
KUALA LUMPUR: Land & General Bhd (L&G) is looking to expand its landbank in prime locations, said managing director Low Gay Teck……

IOI targets project at Singaporeans
KULAIJAYA: IOI Corp Bhd does not see any effect from the additional 10% stamp duty ruling imposed by the Singapore government on foreigners buying private property on its new project there……

MBSB sees RM8b from retail financing
PETALING JAYA: Malaysia Building Society Bhd (MBSB) targets its total sales coming from retail financing to grow to RM8bil this year with the launch of its new personal financing products……

AmBank: Bonds look a good bet
KUALA LUMPUR: While the volatile global economic outlook continues to muddle the direction for investors this year, bond markets could prove enticing given expected low interest rates, according to AmBank’s funds management team……

HSBC securities service ranked first
PETALING JAYA: HSBC Bank Malaysia Bhd’s Securities Services has been ranked the “Top Rated Agent Bank for Malaysia” in the Global Custodian Emerging Markets Suvery 2011 under the leading clients category……

World Bank slashes growth expectations, warns economies
BEIJING: The World Bank warned developing countries to prepare for the “real” risk that an escalation in the euro area debt crisis could tip the world into a slump on a par with the global downturn in 2008/09……

Jerry Yang’s departure seen as prelude to new cash or Asia asset sale
SAN FRANCISCO: Yahoo Inc co-founder Jerry Yang has quit the company he started in 1995, appeasing shareholders who had blasted the Internet pioneer for pursuing an ineffective personal vision and impeding investment deals that could have transformed …..

Olympus president to resign in April
TOKYO: The president of Japan’s scandal-hit Olympus, who has been sued by his own company and disgraced over a cover-up of US$1.7bil in losses, said yesterday he would resign – but only in April……

US SEC inspector general Kotz leaving
WASHINGTON: David Kotz, the tough internal watchdog at the US Securities and Exchange Commission (SEC), is leaving the agency at the end of January to join a private investigative service……

Goldman Q4 profit down 56%
NEW YORK: Goldman Sachs Group Inc’s fourth-quarter profit fell 56% as trading and investment banking revenue plunged, but the bank managed to beat analysts’ expectations, which had dropped considerably in recent weeks……

IEA cuts oil demand growth forecast
LONDON: Mild weather in the northern hemisphere this winter and a rising likelihood of a sharp economic slowdown are expected to lead to lower global oil demand growth in 2012, the International Energy Agency (IEA) said……

MAS appoints senior officials
PETALING JAYA: Malaysian Airline System Bhd has appointed Shane Nolan interim commercial director and Al-Ishsal Ishak senior vice president for marketing and promotions effective Jan 16……

Support Line
Berjaya Sports Toto, Perwaja Holdings and Supermax Corp……

Kodak files for bankruptcy, secures $950 mln lifeline
NEW YORK (Reuters): Eastman Kodak Co , which invented the hand-held camera and helped bring the world the first pictures from the moon, has filed for bankruptcy protection, capping a prolonged plunge for what remains one of America’s best-known comp…..

Morgan Stanley posts Q4 loss but beats Street
(Reuters) – Morgan Stanley lost money in the fourth quarter due to a special charge, but performed better than analysts had expected, sending its shares higher in premarket trading……