Stock Market Books

Wednesday, March 26, 2008

Market continued to surge

Market continues to surge. KLCI closed 15.47 points up at 1245.42. There are 760 million shares changed hand valued at 1.2 billion. There are 409 counters up and 311 counters down.

Counters under watch-list are: Tanjong + RM 1 to RM 16.90; Transmile +45c to RM2.11, Pos +34 c to RM 2.08.

Gamuda quarter two earnings surged to RM 90.1 m from RM 46.6m a year ago. Revenue is RM 485m versus RM 331m. EPS 4.51c versus 2.93 c. No dividend versus 23c a year ago.

SapuraCrest Petroleum FY net profit is RM78 m versus net loss RM 17.7 m a year ago. Revenue is RM 2.26b versus RM 1.76 b. Q4 net profit is RM 33.3m versus RM7.3m a year ago.

Total deposits mobilized by banking sector RM869.9b or 135.6% GDP. Loans, financing by banking sector increased 8.6% to RM 644.2b or 100.4% of GDP.

Bank Negara(Central bank of Malaysia): Economy will grow by 5-6% this year, less than that of 2007 which is 6.3%. Construction will be up by 5.5%; agriculture up 3.4%; mining 6%; manufacturing 1.8% ; services 7.7%.

Inflation forecast is at 2.5% to 3% in 2008 from 2% last year.

Manufactured exports will fall by 1.6% this year due to weak E&E demand from US.

Banking system’s pre-tax profit is up by 36.4% to RM 17.7b in 2007 on diversified income sources. Return on average equity at 19.7%.

Vehicles sales in February is at 38,587, down 7,241 units from January, says MAA. It expects March sales to pick up with new models launching.

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