KLSE Market

Kumpulan Jetson wins US$6.80m Cambodia job
Kumpulan Jetson Bhd has secured a US$6.80 million contract (RM20.90 million) from Nokor Tep Foundation to construct, complete and commission a hospital in Phnom Penh, Cambodia. The contract was secured Jetson Construction Sdn Bhd, a wholly-owned uni…..

Century Logistics cut to ‘underperform’
RHB Research lowered its call on Malaysia’s Century Logistics Holdings Bhd to ‘underperform’ from ‘outperform’ after the logistics services company announced weaker than expected 1Q12 earnings. In a research note on Friday, RHB said Century’s fir…..

Century slides as Q1 net falls
Century Logistics Holdings Bhd, a transport services provider, slid 1.7 per cent to RM1.77, bound for its lowest close since March 1. First-quarter net income fell 33 per cent from a year earlier to RM4.3 million, the company said in a stock-exchange…..

OCBC sees slower loan growth in 2012
SINGAPORE: Singapore’s second-biggest lender, Oversea-Chinese Banking Corp Ltd, expects low-teens percentage growth for its loans this year, slowing from growth of more than 20 percent in 2011, its chief executive said on Friday. CEO Samuel Tsien…..

MAS upgrades business class facilities
National carrier Malaysia Airlines (MAS) is upgrading its cabin baggage policy and golden lounge waiting room facilities tocater for the anticipated increase in business class passengers. Golden lounge manager Mohd Husaini Ariffin said the improvemen…..

KrisAssets to dispose assets worth RM4.6b
IGB Corporation Bhd’s unit, KrisAssets Holdings Bhd, has announced the proposed disposal by the wholly-owned subsidiaries of KrisAssets of Mid Valley Megamall, Mid Valley Megamall RelatedAssets, The Gardens Mall and The Gardens Related Assets, for a …..

Dialog climbs on Q3 profit growth
Dialog Group Bhd, an oil and gas services provider, climbed 2.3 per cent to RM2.27, headed for its biggest gain since April 10. Third-quarter profit grew 8 per cent from a year earlier to RM41.4 million, the company said in a statement. – Bloomberg…..

Aeon (M) up on settlement pact news
Aeon Co (M) Bhd, the Malaysian unit of Japanese retailer Aeon Co, gained 2.4 per cent to RM9.85. The company ended legal proceedings against D’Aseania Mall Sdn Bhd after reaching a settlement agreement, Aeon said in a statement. – Bloomberg…..

CSC Steel posts lower Q1 pre-tax profit of RM7.8m
CSC Steel Holdings Bhd’s profit before tax for the first quarter ended March 31, 2012 decreased by RM24.1 million or 75.7 per cent to RM7.75 million from RM31.9 million in the corresponding quarter last year. Revenue reduced to RM242.19 million from …..

Cuscapi drops on Q1 profit slump
Cuscapi Bhd, a software provider, dropped 1.4 per cent to 34.5 sen, poised for its steepest decline since March 28. First-quarter profit fell to RM567,000 from RM2 million a year earlier, the company said in an exchange filing. – Bloomberg…..

MCMC to award 4G spectrum soon
The Malaysian Communications and Multimedia Commission (MCMC) hopes to award the 4G or 2.6GHz spectrum to telecommunications players (telcos) soon. Chairman Datuk Mohamed Sharil Tarmizi said the commission had received network collaboration plans fro…..

Kimlun arm wins RM148.5m construction job
Kimlun Corporation Bhd’s unit Kimlun Sdn Bhd has accepted the letter of award from Esquire Corner Sdn Bhd for the construction of apartments and ancillary buildings in Shah Alam, Selangor worth RM148.541 million. In an announcement to Bursa Malaysia,…..

M-Mode advances on higher Q1 net
M-Mode Bhd, a mobile media content company, advanced 3.9 per cent to 40 sen, bound for its highest close since April 18. First-quarter net income rose 6.9 per cent from a year earlier to RM3.3 million, the company said in an exchange filing. – Bloomb…..

Malaysia Smelting post lower Q1 pre-tax profit
Malaysia Smelting Corporation Bhd’s pre-tax profit for its first fiscal quarter ended March 31, 2012 fell to RM8.7 million from RM45.823 million in the corresponding quarter last year. In contrast, revenue for the three-month period rose to RM771.904…..

MBSB posts Q1 pre-tax profit of RM110m
MBSB Group recorded a pre-tax profit of RM110 million for the first quarter of 2012, an increase of 21 per cent comparedto RM91 million in the corresponding period in 2011 and nine per cent over the pre-tax profit of RM101 million for the third quart…..

KL shares close 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 0.2 per cent to 1,584.32. The gauge dropped 0.4 percent t…..

US stocks mostly rebound slightly
NEW YORK: US stocks mostly bounced back slightly after a six-day losing streak Thursday, amid hopes that Greece’s moderate socialists might be able to form a government and avoid a new debt crisis.But plunges in the shares of Cisco and Priceline afte…..

CSC Steel Q1 earnings fall 76.8% to RM5.55m
CSC Steel Holdings Bhd’s earnings fell 76.8% to RM5.55mil in the first quarter ended March 31 (Q1, 20120) from RM24.03mil a year ago due to a decline in sales of its steel products and expects market sentiment to remain weak in the current quarter……

Kimlun secures RM148.5m property project in Shah Alam
Kimlun Corporation Bhd has secured a RM148.54mil contract to build the apartments and ancillary buildings in Shah Alam……

BNM keeps OPR unchanged at 3%
Bank Negara Malaysia maintained the overnight policy rate (OPR) at 3% at its monetary policy committee meeting on Friday……

KLCI, key regional markets end week in the red
Key regional markets including Bursa Malaysia ended the week on Friday in the red as investors were rattled by the euro zone worries and shocking trade loss from JPMorgan……

Bursa gets request to cancel trade of KLK shares at RM17
Bursa Malaysia had received a request to cancel trade or trades arising from a participant’s error, which saw Kuala Lumpur Kepong Bhd shares done at RM17 on Friday……

Sony shares slide 7% to 32-year low, results disappoint
TOKYO (Reuters): Sony Corp shed more than 7 percent to hit a near 32-year low on Friday, a day after it posted a record annual loss of $5.7 billion and failed to convince investors that it has a sound strategy to turn around its loss-making TV busine…..

KLCI falls 14pts before recouping most of losses
The FBM KLCI fell more than 14 pts in afternoon trade on Friday, possibly triggered by a selldown of Kuala Lumpur Kepong shares which plunged 27.6%……

Malakoff takes stake in Bahrain power-desalination biz in RM348m deal
MMC Corporation Bhd’s 51% subsidiary Malakoff Corporation Bhd is taking a stake in a Bahrain power generation and water desalination plant operator for US$113.4mil (RM348mil)……

Commodities, equities in the red on Europe debt woes
Commodities including oil and gold fell on worries about the eurozone debt crisis at midday on Friday while all key regional equities markets were in the red, posting losses of up 1.4%……

PPB extends losses, hits lowest since November
Shares of PPB Group Bhd fell to its lowest since Nov 30 at RM16.10 on Friday after its 18.3% owned Wilmar International posted disappointing results and also weaker crude palm oil (CPO) prices……

Facebook’s record initial public offering already oversubscribed
SAN FRANCISCO: Facebook Inc’s record initial public offering is already oversubscribed, a source familiar with the share listing said, days after the world’s largest social network embarked on a cross-country roadshow to drum up investor enthusiasm……

CIMB Research maintains Trading Buy on plantations
CIMB Equities Research maintains its Trading Buy call on regional plantations as it expects crude palm oil (CPO) price to hit a peak in the second quarter of 2012 and trend lower in the second half……

Genting Singapore shares fall after Q1 earnings drop
SINGAPORE (Reuters): Shares of casino operator Genting Singapore PLC fell as much 3.3 percent to a seven-week low after it posted a decline in quarterly earnings and several brokerages lowered their target prices……

KLCI steady in early trade
Blue chips were steady in early trade on Friday despite the cautious regional markets following JPMorgan’s US$2bil huge loss from a failed hedging strategy……

HDBSVR sees renewed selling pressure on regional markets
Hwang DBS Vickers Research said whilst Wall Street finished broadly flat overnight, its futures market was down on Friday morning……

Maybank Research maintains Buy on Dialog, TP unch RM3.05
Maybank Investment Bank Research is maintaining its Buy call on Dialog Group Bhd while its sum-of-parts based target price is unchanged at RM3.05……

Surprising JPMorgan US$2bil trading loss hits US stock market late, index futures fall(update)
NEW YORK: U.S. stock index futures fell sharply on Thursday evening as JPMorgan Chase & Co stunnedinvestors with news that its chief investment office hadincurred “”significant mark-to-market losses”" that it said could “”easily get worse.”"…..

GLOBAL MARKETS-Asian shares retreat, China data, Europe eyed
TOKYO (Reuters): Asian shares retreated on Friday, spooked by JPMorgan’s $2 billion huge loss from a failed hedging strategy, with investors warily watching political turmoil in the euro zone as they await new Chinese data for clues on its growth out…..

RHB Research lowers Century Logistics FV to RM1.63
RHB Research Institute said Century Logistics Q1FY12 net profit came in below expectations……

Together, we can generate higher income from the tourism sector
INTERNATIONAL tourism receipts (money received from tourism) have hit the US$1 trillion mark and that simply means more people are travelling, and they are also spending more while travelling……

Infineon pumping in RM4bil
GEORGE TOWN: Infineon Technologies Kulim is investing RM4bil for its operations in Kulim Hi-Tech Park (KHTP) over the next 10 years. The investment is to expand its manufacturing facilities and to develop a competency centre that will focus on techno…..

ECM Libra-Kenanga merger finalised
PETALING JAYA: The widely-speculated merger between the two stand-alone investment banks, ECM Libra Financial Group Bhd and K&N Kenanga Holdings Bhd, has been finalised and will be announced soon, according to banking sources……

CIMB Aviva stake for sale
KUALA LUMPUR: Britain’s second-largest insurer Aviva plc’s sale of its Malaysian life-insurance business could offer a buying opportunity for its competitors looking for a slice of the industry pie here, according to analysts……

KKB Engineering a frontrunner for RM790mil job
KUCHING: KKB Engineering Bhd (KKB) is one of the frontrunners for the job of constructing Asia Minerals Ltd’s (AML) RM790mil manganese ferro alloy smelting plant in Samalaju Industrial Park,Bintulu……

KWAP fund size up 12% to RM83bil in Q1
KUALA LUMPUR: Kumpulan Wang Persaraan (KWAP) fund size has increased by 12% or RM8.85bil to RM82.61bil in the first quarter of this year compared to corresponding quarter last year……

Former Star site to undergo RM900mil development into Pacific Star
PETALING JAYA: Island Circle Development (M) Sdn Bhd will be joining the ranks of other developers to change the skyline and landscape of Sect 13, Petaling Jaya with an upcoming project comprising an office tower, a block of office suites, a retail p…..

Johor Mid Valley City land to cost RM259mil
PETALING JAYA: IGB Corp Bhd has agreed on a price of RM259mil or RM165 per sq ft with Selia Pantai Sdn Bhd for three parcels of leasehold land measuring 36 acres in Plentong, Johor……

HNG confirmed as buyer of 15% stake
PETALING JAYA: HNG Capital Sdn Bhd has been confirmed as the buyer of a 15.36% stake in Sarawak Cable Bhd from Leader Universal Holdings Bhd……

Harvest Court MD sells more of his company’s shares
PETALING JAYA: Harvest Court Industries Bhd managing director Ng Swee Kiat continued with his selling spree as he disposed of another 10.98 million shares or close to a 6% stake in the company yesterday at an average price of 71.9 sen, hence also net…..

Pestech to raise RM12.88mil from IPO
KUALA LUMPUR: Integrated power technology company Pestech International Bhd plans to raise RM12.88mil from its listing exercise which involves the sale of 12.88 million shares of 50 sen each at an offer price of RM1 each……

Sime homes in on property
SIME Darby has entered into a conditional agreement with CapitaMalls Asia Ltd to form a 50:50 joint venture (JV) to develop a shopping mall in Taman Melawati, Klang Valley……

Genting S’pore posts 33% fall in Q1 profit
SINGAPORE: Genting Singapore Plc, which owns one of Singapore’s two multi-billion dollar casino complexes, posted a 33% fall in first quarter net profit, due to lower gaming revenues……

Steep drop in earnings for Lingui and Glenealy
PETALING JAYA: Lingui Developments Bhd posted a steep 80.3% year-on-year drop in net profit to RM13.6mil for its third quarter ended March 31, 2012 due to a slowdown in demand for timber products from major importing countries as well as cost pressur…..

High revenue growth for Dialog
PETALING JAYA: Dialog Group Bhd posted a 8% year-on-year increase in net profit to RM41.4mil for its third quarter ended March 31, 2012 mainly due to higher revenue from specialist products and services as well as the consolidation of revenue from ne…..

Sony sees return to profit this year
TOKYO: Sony Corp expects to return to profit this year, as it aims to halve the losses in its TV business that pushed the Japanese consumer electronics giant to a record loss of US$5.74bil in the year just ended……

RAM: CIMB deal no immediate impact
KUALA LUMPUR: RAM Ratings opines that CIMB Bank Bhd’s proposed acquisition of a 60%-stake in Philippines-based Bank of Commerce (BoC) from San Miguel Corp has no immediate rating impact on the bank’s AAA/Stable/P1 ratings……

India’s central bank to arrest sliding rupee
MUMBAI: India’s central bank has announced new measures to stem the recent fall in the rupee……

Johor RM62bil refinery and petrochemical project timely
KUALA LUMPUR: The US$20bil (RM62bil) refinery and petrochemical integrated development (Rapid) project to be undertaken by Petroliam Nasional (Petronas) in southern Johor will be timely in meeting burgeoning demand for energy and petrochemical produc…..

Palm oil stocks at 12-month low
PETALING JAYA: Local palm oil inventory fell to the lowest in a year to 1.85 million tonnes in April, compared with 1.95 million tonnes recorded a month earlier, according to the Malaysian Palm Oil Board (MPOB)……

Long-term synergies for Southern Steel from JV
PETALING JAYA: Southern Steel Bhd (SSB) is expected to reap long term benefits from its partnership with Belgian steel wire producer NV Bekaert SA, according to research analysts……

Rio backs iron ore in dicey environment
BRISBANE: Rio Tinto sounded a cautious note over global uncertainties and fended off shareholder calls to return cash, but the world’s No. 3 miner said it was sticking to plans to spend billions developing new copper and iron ore mines……

March output expands lower than expected
PETALING JAYA: The industrial production index (IPI) in March grew at a less-than-expected 0.6% from last year against analysts’ 3.3% growth estimate, weighed down by a high base in the previous month and slowing exports……

Central bank sees zero growth for France in Q2
PARIS: The Bank of France forecast zero growth for France in the second quarter, marking two quarters running of stagnation, just as president-elect Francois Hollande gears up to match austerity with stimulus……

Merkel says ‘growth on credit’ would deepen crisis
BERLIN: German Chancellor Angela Merkel rejected calls from her centre-left opponents in Germany and Europe for economic stimulus policies that rely on new debt, warning parliament that “growth on credit” would just tip Europe deeper into crisis……

Mercedes hopes to sell five new coupes annually
KUALA LUMPUR: Mercedes-Benz Malaysia Sdn Bhd plans to sell five units of its new C 63 AMG Coupe annually, priced at a whopping RM781,888, according to vice-president, sales and marketing, Kai Schlickum……

Chris Eng moves to Etiqa Insurance
PETALING JAYA: Chris Eng, the former director/head of research of OSK Research, has joined Etiqa Insurance & Takaful as head of research, investment management division, sources told StarBiz ……

Auditors told to ‘localise’
BEIJING: The world’s top four accounting firms will have to bring in Chinese citizens to run their operations in China and end the dominance of foreign partners under new rules announced by the Finance Ministry……

Yahoo CEO says he never provided a resume
SAN FRANCISCO (Reuters) – Yahoo Inc Chief Executive Scott Thompson never provided a resume or incorrect information to Yahoo, he told top executives at a meeting on Thursday, according to a source familiar with the matter……

Singapore’s OCBC sees loan growth above 10% in 2012
SINGAPORE, May 11 (Reuters) – Singapore’s second-biggest lender, Oversea-Chinese Banking Corp. Ltd., expects low-teens percentage growth for its loans this year, slowing from growth of more than 20 percent in 2011, its chief executive said on Friday……

Google, Twitter quizzed on Facebook-Instagram – source
(Reuters) – The U.S. Federal Trade Commission has reached out to Google Inc and Twitter in an investigation into Facebook Inc’s $1 billion acquisition of photo-sharing service Instagram, a source familiar with the probe told Reuters……

Cisco spooks, but IT spending seen on the mend
REUTERS – As a cautious outlook from Cisco Systems Inc pummels shares of the network equipment maker and its peers, it might be time to go bargain hunting……