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• stocknews 2:10 pm on May 23, 2013 Permalink | Reply
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  KLSE STOCK WATCH 

  Dated 2013-05-23
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  Maybank Q1 net profit up 11.8pc to RM1.51b Malayan Banking Bhd, Malaysia’s biggest bank by assets, has reported an increase of 11.8 per cent in first quarter net profit to RM1.51 billion, compared with RM1.35 billion recorded in same period last year.Net income grew 6.2 per cent to RM4.47 bil…..   Panasonic to end making silicon wafers in US Panasonic Corp will stop making silicon wafers, used in solar cells, at a factory in Oregon next month as it centralizes production at a plant in Malaysia, the Nikkei reported.Having shut down a plant in California last year, the company will have no….. Tin price closes firmer The tin price on the Kuala Lumpur Tin Market (KLTM) closed firmer today, rising by US$150 to end at US$21,300 a tonne,on renewed buying interest, a dealer said.The price movement on the KLTM was also in tandem with the uptrend on the London Metal Exc….. Malaysia, China’s top Asean trade partner BEIJING: Malaysia continues to be China’s top tradingpartner in Asean, with bilateral trade between both countries hitting US$33.88 billion (RM102.21 billion) in the first quarter of this year, up 23.9 per cent year-on-year.Malaysia’s exports to Chin….. Malaysia leads the way in Basel III debt Malaysia is poised to host Asia’s first public issue of loss-absorbing bank debt, so-called bail-in bonds, since the region began the transition to Basel III standards earlier this year. CIMB Bank has received preliminary approval from the country’s ….. Palm oil climbs to one-month high SINGAPORE: Malaysian palm oil futures rose on Thursday to their highest in more than a month, stretching gains to a third straight week as investors hoped for a recovery in demand ahead of the Muslim fasting month of Ramadan.Higher export demand as b….. Ford to stop manufacturing in Australia MELBOURNE: Ford will cease its manufacturing operations in Australia by October 2016 with the loss of 1,200 jobs.Ford Australia president and chief executive Bob Graziano said the company made a loss of A$141 million after tax in the last financial y….. AirAsia shares down after fall in Q1 profit Shares in AirAsia Bhd, Southeast Asia’s biggest budget airline by passenger traffic, were down in early trading on Thursday after the company’s quarterly profit fell sharply.Late on Wednesday, the airline reported a 39.23 per cent drop in first-quar….. Kenanga maintains ‘market perform’ on AEON Kenanga Research has maintained its ‘market perform’ call on AEON Co (M) Bhd, with an upgraded target price of RM16.40 from RM14.14 previously, due to bright prospects and better performance.’We remain positive on the company’s future prospects as th….. Alliance maintains ‘neutral’ on KPJ Alliance Research has maintained its ‘neutral’ rating on KPJ Healthcare Bhd with an unchanged target price of RM6.07 after the company reported a net profit of RM25.1 million for the first quarter ended March 31, 2013. In a research note, the researc….. ECM Libra plans to exit PN17 by year-end ECM Libra Financial Group Bhd plans to exit Practice Note 17 (PN17) status by year-end through self-regularisation rather than acquisition.Group chief executive officer Azlin Arshad said the group would continue to grow its existing businesses of ass….. XL Axiata falls on Axiata’s acquisition plan XL Axiata falls on parent company’s acquisition plan Shares in mobile phone operator PT XL Axiata Tbk, controlled by Malaysia-based Axiata Group Bhd, slid as much as 3.85 per cent on Thursday, after Bisnis Indonesia said the parent company was consid….. Takaful Malaysia sets 15pc no claim rebate SHAH ALAM: Syarikat Takaful Malaysia Bhd will maintain its 15 per cent ‘no claim rebate’ and increase its value added service delivery amidst tougher competition.Takaful Malaysia is the first and sole Takaful company in the country to offer an additi….. Public Bank and IBBM sign MoU Public Bank Bhd and Institut Bank-Bank Malaysia have signed a memorandum of understanding (MoU) to impart training andeducation to the bank’s employees through ‘The Charted Banker Education Pathway’.The Chartered Banker qualification, which is recogn….. Kenanga lowers JCY net profit forecast Kenanga Research has lowered JCY International Bhd’s net profit forecast for the 2013 and 2014 financial years by 80 per cent and 14 per cent, respectively, to account for a lower gross profit margin assumption. The research house said lacklustre per….. Deleum, top loser in morning trade Shares of oil and gas counter Deleum, fell sharply this morning, following the announcement on a decline in its earningsyesterday.As at 11.55am, Deleum fell 40 sen to RM3.22 with 1.5 million shares transacted and was the top loser. The Group recorded….. Alliance cuts KLK’s earnings forecast Alliance Research has cut Kuala Lumpur Kepong Bhd’s earnings forecast for the 2013 financial year by 11.7 per cent inanticipation of lower full-year crude palm oil (CPO) average selling price.The research house has lowered its full-year CPO average s….. Danajamin appoints ex-AMMB MD as director Danajamin Nasional Bhd, the country’s Financial Guarantee Insurer, has appointed Cheah Tek Kuang as an independent non-executive director, for a three-year term, effective May 20.Cheah was group managing director of AMMB Holdings Bhd until hisretirem….. Red Mango to open 15 outlets in five years Original Red Mango Sdn Bhd, is the sole franchise holder of the Red Mango low-fat frozen yogurt product, aims to open 15 Red Mango outlets within five years, says director Joanne Teng. She said besides the Klang Valley, the outlets would be located i….. CMSB posts RM54.81m pre-tax profit in Q1 KUCHING: Sarawak’s leading infrastructure facilitator, Cahya Mata Sarawak Bhd (CMSB) chalked up a profit before tax (PBT) of RM54.81 million in the first quarter of 2013, an increase of 10 per cent from the same period of last year, group managing di….. Thailand will not cut on rubber exports BANGKOK: Thailand, the world’s biggest rubber producer and exporter, will not extend restrictions on exporting the commodity when the measure expires on May 31, a government official said on Thursday, adding that the curbs had little impact on prices….. Short-term rates close stable Thursday Short-term rates closed stable today as Bank Negara Malaysia intervened in the money market to absorb excess liquidity from the financial system. The liquidity surplus in the conventional operations fell to RM15.039 billion from the RM22.343 billion ….. ‘New Maybank chief should be visionary’ NEW MAYBANK CHIEF SHOULD FURTHER REGIONALISE THE BANK, SAYS WAHIDThe new chief to helm the country’s largest bank must be equipped with sound banking knowledge, be experienced inhandling large corporations and possess the ability to further regionali….. Rubber prices close lower Thursday The Malaysian rubber market finished lower on Thursday, after its recent gains, in tandem with the negative regional sentiment, a dealer said.The fall in both the Tokyo Commodity Exchange and Shanghai Futures Exchange was prompted by the cautious dem….. Ringgit closes sharply lower Thursday The ringgit closed sharply lower against the US dollar today on weak buying interest for the local note, a dealer said.At 5pm, the local unit was quoted at 3.0315/0345 to the greenback from Wednesday’s close of 3.0205/0225.The dealer said most emergi….. INCEIF, Central Bank of Libya ink MoU The International Centre for Education in Islamic Finance (INCEIF) and Central Bank of Libya signed a memorandum ofunderstanding (MoU) for executive training and education in Islamic finance.In a statement today, INCEIF said the collaboration would e….. KL shares close sharply lower Share prices on Bursa Malaysia closed sharply lower on heavy selling of heavyweights in line with weaknesses in regional markets, dealers said.The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 10.82 points to 1,773.06. Comments by US Federal….. MISC Q1 pre-tax profit soars to RM354.7m MISC Bhd posted a higher pre-tax profit of RM354.72 million for the first quarter ended March 31, 2013 compared with RM139.40 million in the same period last year.Revenue rose 7.7 per cent to RM2.38 billion from RM2.21 billion previously.In a filing …..

  IHH’s Q1 net profit up 3.67pc Malaysia’s IHH Healthcare Bhd, the world’s second-largest listed private healthcare provider by market value, posted a 3.67 per cent rise in first-quarter profit, driven by core earnings growth and lower finance costs. IHH earned RM127.27 million in …..   Lafarge to raise production capacity Lafarge Malayan Cement Bhd is looking to increase production capacity this year to meet growing demand, especially fromdomestic customers.The Malaysian cement industry’s total production capacity is currently 20 million tonnes.President and chief exe….. US stocks ease in choppy trading NEW YORK: US stocks Wednesday ended lower following a choppy day of trading as the market weighed exit signals on the Federal Reserve’s exceptionally loose monetary policy.The Dow Jones Industrial Average dropped 80.41 (0.52 per cent) to 15,307.17.Th….. IHH Healthcare earnings up 3.6% to RM127.27m IHH Healthcare Bhd’s earnings rose 3.6% to RM127.27mil in the first quarter ended March 31, 2013 from RM122.77mil a year ago…… Petronas Dagangan Q1 earnings down 3.7% to RM237m Petronas Dagangan Bhd’s earnings fell 3.7% to RM237.09mil in the first quarter ended March 31, 2013 from RM246.21mil a year ago due to lower margins despite revenue had increased…… Japan’s tumble drags key regional, European markets lower (Update) Malaysia’s FBM KLCI closed down 0.61% on Thursday as investors were spooked by the sharp pullback in Japan’s markets, triggered by worries about the US Federal Reserve’s monetary stimulus and weak Chinese factory data…… KUB in JV with Singapore’s Hiap Seng for Petronas project KUB Malaysia Bhd has partnered with Singapore’s Hiap Seng Engineering to undertake the multi-billion ringgit Petronas Rapid Tank Project in Pengerang, Johor…… TDM to plant 5,000ha of new trees every year in Kalimantan Terengganu-based TDM Bhd, plans to plant at least 5,000ha of new oil palm trees every year in its Kalimantan as it targets to double the size of its plantations to 70,000ha…… KLCI falls to low of 1,765, rattled by Japan, HK Malaysia’s FBM KLCI fell to a low of 1,765 in mid-afternoon trade on Thursday as investors were rattled by the plunge in Japan’s markets and fall in Hong Kong…… Japan stocks crash on volatile bonds, weak China data; Nikkei ends down 7.3% Japan stocks crash on volatile bonds, weak China data; Nikkei ends down 7.3%….. MISC posts RM300m net profit in Q1, sees challenging year ahead (Update) MISC Bhd’s reported a turnaround in its financial performance, with earnings of RM300.42mil in the first quarter ended March 31, 2013 compared with net loss of RM469.82mil a year ago…… KL Kepong slips to low of RM21.36 as quarterly profit drops Shares of Kuala Lumpur Kepong Bhd fell to a low of RM21.36 at midday on Thursday after its earnings fell 2.4% to RM209.6mil from a year ago and expected the weaker crude palm oil prices to weigh on its profits for the current financial year ending Se….. Maybank’s Q1 earnings up 11.8% to RM1.506b (Update) Malayan Banking Bhd (Maybank) reported a strong set of earnings, with net profit up 11.8% to RM1.506bil in the first quarter ended March 31, 2013 from RM1.346bil a year ago and was upbeat on its prospects…… Lafarge Cement positive on markets, mulls expanding capacity Lafarge Malayan Cement Bhd is positive on the domestic and export market while it keeps its eye on expanding its capacity…… Dayang Enterprise awards RM705m contract to Perdana Petroleum Dayang Enterprise, which recently secured a RM2bil contract from Sabah and Sarawak Shell, has awarded a RM705mil job to Perdana Petroleum to suppy several barges for its operations…… KLCI pauses, Japan, Hong Kong key indices slide (Update) Malaysia’s blue chips took a breather in the morning trade on Thursday as investors were seen taking some money off the table, especially blue chips which had rallied since the 13th General Election…… ECM Libra plans to exit PN17 by year-end ECM Libra Financial Group Bhd plans to exit Practice Note 17 by year-end on completion of its self-regularisation exercise…… China HSBC flash PMI hits 7-mth low, fans growth fears BEIJING: China’s factory activity shrank for the first time in seven months in May as new orders fell, a preliminary survey of purchasing managers showed, adding to concerns that a recovery in the world’s second-largest economy is sputtering…… RHB Research maintains Buy on KPJ Healthcare, FV RM7.30 RHB Research maintains its “Buy” recommendation on KPJ Healthcare Bhd as it favours KPJ’s solid long-term fundamentals. It also revised its fair value from RM7.14 to RM7.30…… Alliance Neutral on Axiata, ups target price to RM7 Alliance Research maintains its “”Neutral”" call for Axiata Group due to its muted outlook for growth in 2013 but revised its sum-of-parts target price to RM7 from RM6.60…… Deleum top loser, down 11.3% after disappointing results Deleum Bhd fell the most on Thursday morning, sliding 11.3% or 41 sen to RM3.21 after its financial results were below market expectations…… Maybank KE Research maintains Hold on AirAsia Maybank KE Research is maintaining its Hold recommendation on AirAsia as it awaits value creation from associates’ listings and dividends…… Public Invest Research ups Uzma target price to RM2.86 Public Investment Bank Research raised Uzma’s target price from RM2.29 to RM2.86 after raising its price-to-earnings (P/E) multiple to 10 times…… Malaysia’s blue chips fall more than 6pts in early trade Malaysia’s FBM KLCI opened more than six points lower on Thursday on extended profit taking of key stocks like KL Kepong and banks, ahead of the extended weekend…… Profit taking may weigh on Malaysian equities Hwang DBS Vickers Research (HDBSVR) expects profit-taking activity may drag down the Malaysian market’s performance on Thursday…… HP raises 2013 outlook as Whitman’s plan takes hold SAN FRANCISCO: Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations, as CEO Meg Whitman’s turnaround plan helped offset shrinking personal computer sales with enterprise computing services…… Bernanke says more progress needed before stimulus pullback WASHINGTON: The Federal Reserve’s monetary stimulus is helping the economy recover but the central bank needs to see further signs of traction before taking its foot off the gas pedal, Fed Chairman Ben Bernanke said on Wednesday…… Wall Street falters in volatile session on Fed worries NEW YORK: Stocks fell on Wednesday with the S&P 500 posting its biggest decline in three weeks, after minutes from the latest Federal Reserve meeting showed some officials were open to tapering large-scale asset purchases as early as at the June meet….. Aeon director: GST won’t affect group KUALA LUMPUR: The implementation of the goods and services tax (GST) in Malaysia is not expected to have any impact on retail group Aeon Co (M) Bhd’s earnings…… Petronas Chemicals Group to invest RM3bil in capital expenditure KUALA LUMPUR: Petronas Chemicals Group Bhd (PetChem) is looking to invest RM3bil in capital expenditure (capex) this year, and hopes to reach a final investment decision (FID) on the expansion of its plant in Gebeng, Kuantan by year-end…… Weak CPO prices hit Boustead profit KUALA LUMPUR: Diversified conglomerate Boustead Holdings Bhd’s net profit for the first quarter ended March 31 slipped to RM99.9mil compared with RM144.6mil a year ago on lower crude palm oil (CPO) prices impacting its plantation division…… April CPI up 1.7% on higher food prices PETALING JAYA: The consumer price index (CPI) for April rose 1.7% to 106.3 from a year ago mainly due to a 3.8% increase in the food and non-alcoholic beverages index…… Report: AirAsia X sets indicative price for IPO KUALA LUMPUR: Long-haul carrier AirAsia X, founded by entreprener Tan Sri Tony Fernandes, has set an indicative price of RM1.45 per share for an initial public offering (IPO) in Malaysia worth more than US$300mil (RM930mil), according to sources with….. MAEI sees 3%-4% rise in electrical, electronics exports KUALA LUMPUR: The Malaysian American Electronics Industry (MAEI) expects a 3% to 4% increase in total electrical and electronics (E&E) exports by its members to RM49bil this year…… Cahaya Mata Sarawak to invest in grinding plant KUCHING:Cahya Mata Sarawak Bhd (CMS) is investing RM150mil in a new grinding plant to boost its cement production to meet growing demand…… Star to leverage on new, fast-growing businesses PETALING JAYA: Despite the continued challenging environment for the traditional print newspaper industry, Star Publications (M) Bhd will leverage on its new and fast-growing businesses to burnish its position as Malaysia’s top integrated media group….. No plans for MBO, says Vincent Lee PETALING JAYA: Star Publications (M) Bhd executive deputy chairman Datuk Vincent Lee has reiterated that there are “no plans at all” for a management buyout (MBO) of the company…… Scomi active as CEO raises stake PETALING JAYA: Scomi Group Bhd was among the most actively-traded stocks yesterday, as investors took the cue from chief executive officer Shah Hakim Zain upping his stake in the company via the open market a few days ago…… Bumi Armada shares rise after a strong Q1 PETALING JAYA: Bumi Armada Bhd shares rose to a high of RM4.14 yesterday, following news flows of its strong first-quarter results…… BToto buys RM20m REDtone shares PETALING JAYA: Berjaya Sports Toto Bhd (BToto) has purchased securities totalling RM20.15mil in REDtone International Bhd via its 88.26%-owned Philippines-listed unit Berjaya Philippines Inc…… Ingress gets notice from joint-offerors KUALA LUMPUR: Ingress Corp Bhd has received a notice from the joint-offerers intending to take it private to extend the closing date and time for the acceptance of the offer to June 11 from May 28…… Support Line By K.M. LEE….. Axiata Q1 profit improves PETALING JAYA: Axiata Group Bhd’s net profit for its first quarter ended March 31 climbed 8.6% to RM614.5mil from RM565.6mil recorded in the previous corresponding quarter while revenue rose to RM4.48bil from RM4.24bil previously…… Lower net profit for AirAsia SEPANG: AirAsia Bhd’s net profit for the first quarter ended March 31 contracted to RM104.8mil from RM172.4mil a year ago but operationally, the budget carrier still reported growth…… BMW targets 10% growth in sales this year KUALA LUMPUR: BMW Group Malaysia Sdn Bhd aims to increase vehicle sales by 10% from the 7,000 units achieved in 2012…… Forum to highlight on Asia economic ventures PETALING JAYA: The widening economic inequality in Asian countries, security issues and how Asian countries can cooperate to confront common challenges are among the subjects that will be discussed at the three-day 27th Asia-Pacific Roundtable (APR) ….. Asean flavour in Invest M’sia confab KUALA LUMPUR: The upcoming Invest Malaysia conference (IMKL 2013) will present global fund managers with direct opportunities to access Asean multinational marketplace through Bursa Malaysia…… Top management changes at APM PETALING JAYA: APM Automotive Holdings Bhd has made several top management changes with executive director Low Seng Chee redesignated as the chief executive officer of the company…… ‘Fair value’ of MMHE at RM3.30 Malaysia Marine and Heavy Engineering Holdings Bhd, IOI Corp Bhd and CIMB Group Holdings Bhd…… Push to limit foreign ownership in banks JAKARTA: Indonesian MPs said they want a new banking law, under discussion since late last year, to limit foreign ownership to a maximum of 50% to 51% and suggested it could make it to the statute books by next year…… EU: FTA will depend on concessions from Beijing BRUSSELS: The European Union (EU) is willing to deepen trade ties with China but wants to see concessions from Beijing first, documents seen by Reuters showed…… Sony cuts target, to assess spin-off plan TOKYO: Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13%-17% for the year to end-March 2015, but said there were “encouraging” signs of a revival in its electronics business…… Europe moves closer to ending banking secrecy BRUSSELS: Europe moved closer to ending banking secrecy yesterday after Austria dropped objections to sharing data on foreign depositors and the European Union (EU) focused on negotiating a similar agreement with Switzerland…… China Galaxy soars 11% in debut HONG KONG: China Galaxy Securities Co Ltd rose as much as 11.3% in its trading debut after raising US$1.1bil in a Hong Kong IPO, underscoring a surge in retail investors’ demand for new listings in the city…… Gina Rinehart loses US$7bil SYDNEY: Mining magnate Gina Rinehart had A$7bil (US$6.8bil) wiped off her fortune in the past year but remains Australia’s wealthiest person, an annual rich list showed…… Australia consumer confidence falls SYDNEY: A measure of Australian consumer confidence fell sharply in May as households reacted negatively to the government’s budget announcement, even after a cut in interest rates to a record low……

   

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