KLCI closed 14.28 points up at 1276.10. CPO fell RM 81 to RM 3483. DiGi rose RM1.50 to RM26.50, KLK rose 50 sen to RM 17.70, IOI Corp was up 30 sen to RM 7.45.
Panglobal first quarter net loss is RM 26.52 vs net loss RM 15.29 m a year ago. Revenue is recorded at RM 62.7m vs RM60.73 m. Loss per share is 19 sen vs 11sen.
LCL Corp subsidiary secures RM 18.8m interior outfit job for hotel project along Jalan Conlay KL.
Gamuda closed 53 sen lower to RM2.45(13m), IOI Prop slide 40 sen to RM 10, SP Setia down 24 sen to RM 3.96, WCT slipped 22 sen to RM 3.26, Bland down 20 sen to RM 5.10.
Gamuda falls 39 sen to RM 2.59 with 52 m shares done at 12.23pm on concerns over Vietnam property venture. BJLand-LB also was down 55 sen to RM5.
Market said Vietnam is having a inflation rate of about 11 percent thereby made the investment return lower.
Lion Industries third quarter net profit is RM 200.8 m from RM 41.1 m. Revenue is RM 1.7b vs RM 1.25b. 9-months net profit is RM 390m vs RM 201.2m.
Lafarge sees 5% to 10 % revenue growth in current financial year, spurred by government, private projects but it is concerned over the delay to liberalize cement industry.
Astra Asia deputy chairman Lim Kang Poh buys 2 m shares on May 21, ups stake to 31.86m shares or 26.55%.
Goldman Sach sells 2.1 m Green Packet shares from May 16-22, cutting its stake to 16.77m or 5.1%. GPacket shares is recorded at 52-week low of RM 1.77 at 11.15am.
26/5 Bank Negara keeps overnight policy rate unchanged at 3.5 %. It sees inflation risks on upside while risks to economic growth on downside.
Friday, May 30, 2008
Thursday, May 29, 2008
KLCI rose 1.24 to 1261.82
KLCI rose 1.24 to 1261.82.
PPB rose 40 sen to RM 11, KPS went up 29 sen to RM 2.24 but GPkt was down 16 sen to RM 2.98, Gamuda was also down by 12 sen to RM 2.98. Oil is recorded at US $130.32
Ambank sells 26m shares or 4% of loss-making Gula Perak, cutting its stake to 141.4m shares or 21.9%.
Nomad Investment Partnership ups AirAsia stake to 5.05% or 120m shares after buying 1.2m shares on May 26. AirAsia was up 2 sen to RM 1.01 at 9.30am
Petronas is buying 40% stake in Australia’s Santos Ltd integrated natural gas project in Queensland for US$2.5b.
Equine Capital fourth quarter net loss RM 20.6m vs RM 1m profit a year ago, revenue RM 20.4 m vs RM 23.4m. As for financial year end March 31, it is subject to a net loss of RM 24.36 m vs profit of RM 3.55m.
OSK Holdings first quarter net profit is recorded at RM40.73 m vs RM 75.92m a year ago due to global financial slowdown. Revenue is recorded at RM 228.45m vs RM 288m. EPS is recorded at 6.28 sen vs 12.2 sen.
AirAsia first quarter net profit is recorded at RM 161.27m vs RM 86.87 m a year ago, boosted by RM 51.54m deferred taxation. Revenue is RM 535m vs RM 406m. EPS is 6.8sen vs 3.7sen.
28/5 Thresholds for foreign currency borrowing of RM 100m by resident company on corporate group basis, RM 10m by resident individuals now lifted.
This is to say that Forex administraton rules on borrowing in foreign currency by residents are further liberalized with immediate effect.
28/5 GDP in first quarter expanded to 7.1% on year. Agriculture up 6.3 %, Mining rose 3.7%, manufacturing plus 6.9%, Construction up 5.3%, services rose 8%.
28/5 Sime Darby third quarter net profit is recorded at RM 1.08b vs RM477.4m. Revenue is recorded at RM 8.6b vs RM 7.08b. 9-month profit is RM 2.5 b vs RM 1.75b.
28/5 KPJ Healthcare first quarter net profit is up 90% to RM 21.7m vs RM 11.41m a year ago. Revenue is RM 304.7m vs RM 256.8 m. EPS is 10.52 sen vs 5.57 sen.
PPB rose 40 sen to RM 11, KPS went up 29 sen to RM 2.24 but GPkt was down 16 sen to RM 2.98, Gamuda was also down by 12 sen to RM 2.98. Oil is recorded at US $130.32
Ambank sells 26m shares or 4% of loss-making Gula Perak, cutting its stake to 141.4m shares or 21.9%.
Nomad Investment Partnership ups AirAsia stake to 5.05% or 120m shares after buying 1.2m shares on May 26. AirAsia was up 2 sen to RM 1.01 at 9.30am
Petronas is buying 40% stake in Australia’s Santos Ltd integrated natural gas project in Queensland for US$2.5b.
Equine Capital fourth quarter net loss RM 20.6m vs RM 1m profit a year ago, revenue RM 20.4 m vs RM 23.4m. As for financial year end March 31, it is subject to a net loss of RM 24.36 m vs profit of RM 3.55m.
OSK Holdings first quarter net profit is recorded at RM40.73 m vs RM 75.92m a year ago due to global financial slowdown. Revenue is recorded at RM 228.45m vs RM 288m. EPS is recorded at 6.28 sen vs 12.2 sen.
AirAsia first quarter net profit is recorded at RM 161.27m vs RM 86.87 m a year ago, boosted by RM 51.54m deferred taxation. Revenue is RM 535m vs RM 406m. EPS is 6.8sen vs 3.7sen.
28/5 Thresholds for foreign currency borrowing of RM 100m by resident company on corporate group basis, RM 10m by resident individuals now lifted.
This is to say that Forex administraton rules on borrowing in foreign currency by residents are further liberalized with immediate effect.
28/5 GDP in first quarter expanded to 7.1% on year. Agriculture up 6.3 %, Mining rose 3.7%, manufacturing plus 6.9%, Construction up 5.3%, services rose 8%.
28/5 Sime Darby third quarter net profit is recorded at RM 1.08b vs RM477.4m. Revenue is recorded at RM 8.6b vs RM 7.08b. 9-month profit is RM 2.5 b vs RM 1.75b.
28/5 KPJ Healthcare first quarter net profit is up 90% to RM 21.7m vs RM 11.41m a year ago. Revenue is RM 304.7m vs RM 256.8 m. EPS is 10.52 sen vs 5.57 sen.
Wednesday, May 28, 2008
KLCI closes 13.66 pts lower
KLCI closes 13.66 points lower at 1260.58. KLK slipped 50 sen to RM 17.20, PPB dropped 50 sen to RM 10.60, sime was down 25 sen to RM 9.25, IOI Corp slide 10 sen to RM 7.10
Tuesday, May 27, 2008
Bina Puri to bid RM800m project locally and in foreign country
Bina Puri is bidding for more than RM800m projects locally and in foreign country. Works on the RM940m KL-Kuala Selangor Highway project will be started in July.
Nazri Aziz said that 1,100 bumiputra and non-bumiputra students received PSD scholarships to pursue their university degree overseas after SPM.
CEO Azman Yahya said that the Symphony House will allocate RM 100m for local acquisition. It is now in the final talks to acquire healthcare business.
LionForest Industries serves the takeover of Silverstone for RM24.39m via issuance of new Lion Forest shares on 1-for-15 basis.
Ann Joo Corp Sdn Bhd bought back 5.12m Ann Joo shares from the open market on May 20, raise total stake to 343.6 m shares or 66.9%
Nazri Aziz said that 1,100 bumiputra and non-bumiputra students received PSD scholarships to pursue their university degree overseas after SPM.
CEO Azman Yahya said that the Symphony House will allocate RM 100m for local acquisition. It is now in the final talks to acquire healthcare business.
LionForest Industries serves the takeover of Silverstone for RM24.39m via issuance of new Lion Forest shares on 1-for-15 basis.
Ann Joo Corp Sdn Bhd bought back 5.12m Ann Joo shares from the open market on May 20, raise total stake to 343.6 m shares or 66.9%
KLCI closes up 0.87 points to 1274.24.
KLCI closes up 0.87 points to 1274.24. Shell rose 40 sen to RM 11.50, PetDag was up 35 sen to RM 8.50, GPlus rose 24 sen to RM 2.24. CPO was up RM 55 to RM3728.
IJM Corp fourth quarter net profit is recorded at RM116.5 m from RM 49.6m a year ago But for financial year ended at March 31, it recorded a net loss of RM 420.4 m vs net profit of RM 194.3m a year ago.
IJM Plantation fourth quarter net profit is recorded at RM 42.9 m vs RM 8.9 m a year ago. As for financial year ended March 31, the net profit is recorded at RM142m vs RM 44m. It proposed a 12 sen dividend.
Puncak says that it has not received written notice from Selangor government over Puncak takeover. If there is any takeover, it must get nod from the company and the Federal government.
At 4:24pm, Bursa Malaysia cautions investors over persistent rise in GPlus share price, warns of regulatory action to ensure fair and orderly trading. GPlus is done at 2.22 still up 22 sen. (Look like Bursa is about to take action. What kind of action? Maybe designated it?)
Bursa queires GPlus and seeks immediate response over report on removal of 7 directors, appointing 5 new ones. GPlus was up 20 sen to RM 2.20 at 11.45am.
Ramunia major shareholder Ramunia Energy sold 3m shares in married deal on May 7, cut total stake to 183.8m or 33.29%.
Singapore’s GKG Investment sold 2.5m Lion Industries shares on May 20 and ceased to be substantial shareholder.
Malaysia Productivity Corporation said that Malaysia rose from 23 to 19 in the World Competitiveness 2008 ranking by Swiss Institute. Now Malaysia is above Korea, Japan, and UK.
Genting 95%-owned subsidiary Genting Oil Kasuri signs new production sharing deal with BPMIGAS for Kasuri block in Indonesia.
IJM Corp fourth quarter net profit is recorded at RM116.5 m from RM 49.6m a year ago But for financial year ended at March 31, it recorded a net loss of RM 420.4 m vs net profit of RM 194.3m a year ago.
IJM Plantation fourth quarter net profit is recorded at RM 42.9 m vs RM 8.9 m a year ago. As for financial year ended March 31, the net profit is recorded at RM142m vs RM 44m. It proposed a 12 sen dividend.
Puncak says that it has not received written notice from Selangor government over Puncak takeover. If there is any takeover, it must get nod from the company and the Federal government.
At 4:24pm, Bursa Malaysia cautions investors over persistent rise in GPlus share price, warns of regulatory action to ensure fair and orderly trading. GPlus is done at 2.22 still up 22 sen. (Look like Bursa is about to take action. What kind of action? Maybe designated it?)
Bursa queires GPlus and seeks immediate response over report on removal of 7 directors, appointing 5 new ones. GPlus was up 20 sen to RM 2.20 at 11.45am.
Ramunia major shareholder Ramunia Energy sold 3m shares in married deal on May 7, cut total stake to 183.8m or 33.29%.
Singapore’s GKG Investment sold 2.5m Lion Industries shares on May 20 and ceased to be substantial shareholder.
Malaysia Productivity Corporation said that Malaysia rose from 23 to 19 in the World Competitiveness 2008 ranking by Swiss Institute. Now Malaysia is above Korea, Japan, and UK.
Genting 95%-owned subsidiary Genting Oil Kasuri signs new production sharing deal with BPMIGAS for Kasuri block in Indonesia.
Monday, May 26, 2008
KLCI closed 1.41 points down on Monday
KLCI closes down 1.41 point to 1273.37. Nestle dropped 25 sen to RM 29.75, KLK was down 20 sen to RM 17.60, Parkson slided 20sen to RM6.40, Lafarge dropped 16 sen to RM 4.42.
Proton net profit is RM202.87 m for financial year ended March 31 from net loss of RM 589.5 m. Fourth quarter net profit is RM 236.4m vs net profit of RM915,000 a year ago.
GPlus 7 directors remain after shareholders voted at EGM to reject proposals to remove them. The EGM also rejected the appointments of 5 new directors.
Proton net profit is RM202.87 m for financial year ended March 31 from net loss of RM 589.5 m. Fourth quarter net profit is RM 236.4m vs net profit of RM915,000 a year ago.
GPlus 7 directors remain after shareholders voted at EGM to reject proposals to remove them. The EGM also rejected the appointments of 5 new directors.
Ken has projects with GDV of RM 650m to last for 5 years
Ken Holdings has projects in hand with Gross Development Value (GDV) of RM650 m, to keep group busy over 5 years. It has now 140 acres of land for development and it is Eyeing more landbank in Klang Valley.
Wah Seong first quarter net profit is up 61 % to RM29m from RM 18m a year ago. It recognized the deferred tax assets. Revenue is RM510.5 m vs RM 429.15m. EPS is recorded at 4.25 sen.
Kulim first quarter net profit surges 182% to RM98.19 m vs RM 34.82m a year ago,boost from CPO. Revenue is RM 852.98 m vs RM 570.32m. EPS is 34.56sen vs 12.56 sen.
Kulim says it is holding back commercial ops for bio-diesel due to uncertainty and difficult business condition. CPO is up RM 32 to RM 3,686 midday.
Wah Seong first quarter net profit is up 61 % to RM29m from RM 18m a year ago. It recognized the deferred tax assets. Revenue is RM510.5 m vs RM 429.15m. EPS is recorded at 4.25 sen.
Kulim first quarter net profit surges 182% to RM98.19 m vs RM 34.82m a year ago,boost from CPO. Revenue is RM 852.98 m vs RM 570.32m. EPS is 34.56sen vs 12.56 sen.
Kulim says it is holding back commercial ops for bio-diesel due to uncertainty and difficult business condition. CPO is up RM 32 to RM 3,686 midday.
Saturday, May 24, 2008
MBSB net profit is RM 19.61 million
Malaysian Building Society Bhd first quarter net profit is recorded at RM 19.61 m vs RM4.86m a year ago. Revenue is recorded at RM 106.31 m vs RM 79.9m. EPS is 5.69 sen vs 1.44 sen.
Sarawak Energy first quarter net profit is recorded at RM 65.97m vs RM 45.75 m a year ago. Revenue is RM 319m vs RM 290.4. EPS is 4.34 sen vs 3.01sen
Sarawak Energy first quarter net profit is recorded at RM 65.97m vs RM 45.75 m a year ago. Revenue is RM 319m vs RM 290.4. EPS is 4.34 sen vs 3.01sen
Friday, May 23, 2008
KLCI closes 2.79 down
KLCI closes 2.79 down at 1274.78. PetDag was down 35 sen to RM8.15, Tanjong slipped 20 sen to RM15.90, Lafarge dropped 18 sen to RM 4.58 but Transmile rose 17 sen to RM 1.57.
Time Engineering first quarter net profit is recorded at RM 12.16 m vs net loss RM 9.75m a year ago. Revenue is recorded at RM 53.96m vs RM 214.4 a year ago. EPS is 1.57 sen vs loss per share of 1.26 sen.
Star Publicaton first quarter pre-tax profit is recorded at RM 59.17 m vs RM 46.59m a year ago. Net profit is recorded at RM 42.52m vs RM 34.45m, revenue is RM 204.73 m vs RM 184.57 m.
Jerneh Insurance targets double-digit growth in gross premium income for financial year 2008 by focusing on corporate sector, small business and agency.
PM refutes US Treasury report which states that Ringgit is undervalued, says local currency reflects its true value and that of the economy.
Tanjung Offshore plans to buy 3.4 offshore service vessels, capex of RM 200 mil, in addition to 5 more ordered in past 2 years.
Khazanah Nasional sold 16.55 m Time Dotcom shares in open market between May 12 to 16, cutting total stake to 58.69% or 1.48b.
Transmile rose 13 sen to RM 1.53(1.15m) at 9.14 am. It plans to issue shares RM 2.20 each to lenders to settle borrowings. First quarter losses is recorded at RM 46.7m vs RM 31.85 m.
Telekom group recognized allowance for RM 117.8 m doubtful debts for certain foreign VoIP debtors in first quarter. Probe underway to recover debts.
Telekom group including TMI first quarter net profit down at RM 519.7m from RM595.71m a year ago. Revenue is recorded at RM 4.62b vs RM 4.18b. EPS is 15.1 sen vs 17.4sen.
BNM international reserves is at record high of US$125.1 b or RM 399.9b enough for 9.9 months retained imports, 7.3 times short term external debt.
Time Engineering first quarter net profit is recorded at RM 12.16 m vs net loss RM 9.75m a year ago. Revenue is recorded at RM 53.96m vs RM 214.4 a year ago. EPS is 1.57 sen vs loss per share of 1.26 sen.
Star Publicaton first quarter pre-tax profit is recorded at RM 59.17 m vs RM 46.59m a year ago. Net profit is recorded at RM 42.52m vs RM 34.45m, revenue is RM 204.73 m vs RM 184.57 m.
Jerneh Insurance targets double-digit growth in gross premium income for financial year 2008 by focusing on corporate sector, small business and agency.
PM refutes US Treasury report which states that Ringgit is undervalued, says local currency reflects its true value and that of the economy.
Tanjung Offshore plans to buy 3.4 offshore service vessels, capex of RM 200 mil, in addition to 5 more ordered in past 2 years.
Khazanah Nasional sold 16.55 m Time Dotcom shares in open market between May 12 to 16, cutting total stake to 58.69% or 1.48b.
Transmile rose 13 sen to RM 1.53(1.15m) at 9.14 am. It plans to issue shares RM 2.20 each to lenders to settle borrowings. First quarter losses is recorded at RM 46.7m vs RM 31.85 m.
Telekom group recognized allowance for RM 117.8 m doubtful debts for certain foreign VoIP debtors in first quarter. Probe underway to recover debts.
Telekom group including TMI first quarter net profit down at RM 519.7m from RM595.71m a year ago. Revenue is recorded at RM 4.62b vs RM 4.18b. EPS is 15.1 sen vs 17.4sen.
BNM international reserves is at record high of US$125.1 b or RM 399.9b enough for 9.9 months retained imports, 7.3 times short term external debt.
Thursday, May 22, 2008
KLCI closed 3.63 down
KLCI closes 3.63 points down at 1277.57. KLK was down 30 sen to RM 17.60, Top Glove slipped 22 sen to RM 4.62, GPacket dropped 21 sen to RM 2.20. CPO rose RM 53 to RM 3610.
Johor Corporation unit Tanjung Langsat Port issues RM 385m Islamic debt notes to expand liquid/bulk port, build storage tanks, repay loans.
Johor Corporation unit Tanjung Langsat Port issues RM 385m Islamic debt notes to expand liquid/bulk port, build storage tanks, repay loans.
Fuel subsidy for Malaysia may bit RM 53b this year
Fuel subsidy may hit RM53b this year, Bloomberg quote second Finance Minister saying.
Cost to provide fuel subsidy biggest problem facing government.
CPO futures surges RM 63 to RM 3620 per tonne, riding on record high crude oil price of US$134.33 per barrel.
US-based T. Rowe Price’s indirect stake in AirAsia cut to167.64m or 7.06% after disposal of 5.5m shares on May 14.
Berjaya Group’s Vincent Tan joins Malaysia’s billionaires club with net worth of US$1.3b(RM4.17 bil), up nearly US$1b from last year, says Forbes Asia.
TSH Resources which owns 60,000 ha land looking to buy more land and in talks with sellers in Indonesia. Also expects to do better this financial year.
Capital Group International emerges substantial shareholder in E&O Property with 5.01 % or 33.16m shares.
US semiconductor equipment manufacturers post US$1.07 bil orders in April, book-to-bill ratio falls to 0.81, the lowest since November.
Ex-NPC Resources director Koh Kin Lip substantial shareholder of Daya Materials with 16.2m shares or 5.49% after buying 16m shares May 16.
Cost to provide fuel subsidy biggest problem facing government.
CPO futures surges RM 63 to RM 3620 per tonne, riding on record high crude oil price of US$134.33 per barrel.
US-based T. Rowe Price’s indirect stake in AirAsia cut to167.64m or 7.06% after disposal of 5.5m shares on May 14.
Berjaya Group’s Vincent Tan joins Malaysia’s billionaires club with net worth of US$1.3b(RM4.17 bil), up nearly US$1b from last year, says Forbes Asia.
TSH Resources which owns 60,000 ha land looking to buy more land and in talks with sellers in Indonesia. Also expects to do better this financial year.
Capital Group International emerges substantial shareholder in E&O Property with 5.01 % or 33.16m shares.
US semiconductor equipment manufacturers post US$1.07 bil orders in April, book-to-bill ratio falls to 0.81, the lowest since November.
Ex-NPC Resources director Koh Kin Lip substantial shareholder of Daya Materials with 16.2m shares or 5.49% after buying 16m shares May 16.
Wednesday, May 21, 2008
KLCI closed down 6.23 on Wednesday
KLCI closed 6.23 points lower at 1,281.20. IOICorp was down by 20 sen to RM 7.30, Bursa slipped by 15 sen to RM 8.25, YTLpower-WR dropped by 17.5 sen to 69.5 sen. CPO rose RM 17 to RM 3571.
KL Kepong second quarter net profit is recorded at RM 236.6m vs RM 126.7m a year ago. Revenue is recorded at RM 1.89 b vs RM 1.03b. It has declared a 15 sen dividend for second quarter.
More than 6000 credit card holders declared bankrupt in the past 4 years while the industry facesRM 2.5b bad debts, says second Finance Minister.
KL Kepong second quarter net profit is recorded at RM 236.6m vs RM 126.7m a year ago. Revenue is recorded at RM 1.89 b vs RM 1.03b. It has declared a 15 sen dividend for second quarter.
More than 6000 credit card holders declared bankrupt in the past 4 years while the industry facesRM 2.5b bad debts, says second Finance Minister.
Tuesday, May 20, 2008
OilCorp’s pretax profit for FY 07 is to be reduced from RM 22 m to RM7 m
KLCI closed down 13.24 points to 1287.43. BAT was down RM 1 to RM 42.50,BCHB was down 30 sen to RM 9.55, Gpacket was down 24 sen to RM 2.52. All major Asian markets closed lower.
MIMB Investment Bank fails to get SC nod to act as independent adviser to Ablington Holding’s takeover of Ladang Perbadanan Fima.
MAS net profit for first quarter ended March 31fell 9.7% to RM 120.06 m vs RM 132.71 m a year ago. Revenue is recorded at RM 3.75 b vs RM 3.64 a year ago.
Boustead Holdings posted net profit of RM 152 mil for first quarter ended March 31, with plantations accounting for 45 % of profit.
RHB Capital first quarter net profit is recorded at RM 222.4m, up 52% from RM146.3 m a year ago, boosted by higher non-interest income, lower operating expenses.
OilCorp’s pretax profit for FY 07 is to b reduced from RM 22 m to RM7 m after disagreement between management, auditors over RM 110m contract.
MIMB Investment Bank fails to get SC nod to act as independent adviser to Ablington Holding’s takeover of Ladang Perbadanan Fima.
MAS net profit for first quarter ended March 31fell 9.7% to RM 120.06 m vs RM 132.71 m a year ago. Revenue is recorded at RM 3.75 b vs RM 3.64 a year ago.
Boustead Holdings posted net profit of RM 152 mil for first quarter ended March 31, with plantations accounting for 45 % of profit.
RHB Capital first quarter net profit is recorded at RM 222.4m, up 52% from RM146.3 m a year ago, boosted by higher non-interest income, lower operating expenses.
OilCorp’s pretax profit for FY 07 is to b reduced from RM 22 m to RM7 m after disagreement between management, auditors over RM 110m contract.
Friday, May 16, 2008
KLCI up 6.52 on Friday
KLCI closed 6.52 points to 1300.67. Boustead Prop rose 71 sen to RM 5.35, KNM was up 30 sen to RM 7.20. Ringgit was 3.23 to US $1. CPO was up RM 6 to RM 3530.
Boustead Heavy Industries get 2 jobs worth RM 205m to build work barges for Swire Pacific offshore Operations.
EON Cap first quarter net profit is recorded at RM 76.63m vs RM 36.29 m a year ago. Revenue is recorded at RM 637.24m vs RM 640.7 m, boost from net income, lower loan loss provisions.
KPMG International survey shows50% world’s energy leaders concerned possible bubble in renewable technology sector, similar to dotcom boom.
Nasimuddin SM Amin’s family picks his second son, SM Nasarudin as group executive chairman, CEO of NAZA group. The appointment will take effect immediately.
Affin calls off talks for proposed acquisition of equity interest in Malaysia Assurance Alliance.
Matrade overseas promotions netted RM 127.6 m in immediate sales in first quarter. In 2007, netted Rm 175m sales. Potential sales in first quarter is RM 3.6 b.
PPB Group says volatile commodities prices make hedging challenging. Biofuel demand, entry of hedge funds makes it hard to assess outlook.
Bank Rakyat launches 4th Islamic pawn broking franchise, hopes to get provide RM 6 m financing in 1st year. It is planning 25 more franchises in 3 years.
Boustead Heavy Industries get 2 jobs worth RM 205m to build work barges for Swire Pacific offshore Operations.
EON Cap first quarter net profit is recorded at RM 76.63m vs RM 36.29 m a year ago. Revenue is recorded at RM 637.24m vs RM 640.7 m, boost from net income, lower loan loss provisions.
KPMG International survey shows50% world’s energy leaders concerned possible bubble in renewable technology sector, similar to dotcom boom.
Nasimuddin SM Amin’s family picks his second son, SM Nasarudin as group executive chairman, CEO of NAZA group. The appointment will take effect immediately.
Affin calls off talks for proposed acquisition of equity interest in Malaysia Assurance Alliance.
Matrade overseas promotions netted RM 127.6 m in immediate sales in first quarter. In 2007, netted Rm 175m sales. Potential sales in first quarter is RM 3.6 b.
PPB Group says volatile commodities prices make hedging challenging. Biofuel demand, entry of hedge funds makes it hard to assess outlook.
Bank Rakyat launches 4th Islamic pawn broking franchise, hopes to get provide RM 6 m financing in 1st year. It is planning 25 more franchises in 3 years.
Thursday, May 15, 2008
KLCI closed up 6.41 to 1294.15
KLCI closed 6.4 points at 1294.15. Sime was up 25 sen to RM 9.75, BCHB rose 25 sen to RM 9.90, PBBank was up 20 sen to RM 11.8, GPlus slip23 sen to RM 1.93, SSteel was down by 16 sen to RM 3.64.
Boustead is offering RM 5.50 a share for Boustead Properties, or 31% above 5-day average of RM 4.20, under privatisation exercised.
Boustead is offering RM 5.50 a share for Boustead Properties, or 31% above 5-day average of RM 4.20, under privatisation exercised.
IOICorp second quarter profit recorded at RM601.64m
IOICorp second quarter net profit is recorded at RM 601.64m vs RM 392.17m a year ago. Revenue is recorded at RM3.52 b vs RM 2.27b. EPS is 9.89 sen. No dividends were declared.
Maybank says it is not in talks to buy more banks but looking to increase branches in Cambodia. It is committed to existing dividend payout.
Maybank third quarter earnings is recorded at RM758.6m vs RM 764.6m a year ago due to unrealized losses from marked-to-market derivatives and securities held for trading.
United Plantations first quarter net profit is recorded at RM 68.96m vs RM23.44 m a year ago due to higher output, selling price at CPO. Revenue is recorded at RM RM 226.45 m vs RM 126 m year ago.
Shell Refining first quarter profit is recorded at RM 122.5m vs Rm137.3m year ago due to lower refining margins, less stockholding gains. Revenue is recorded at RM 3.42 b vs RM2.19b
Keladi Maju chairman Tan Hua Choon’s family sells 85m shares or 11.2% from May 5-8. However, Tan still holds 65.5 m shares or 8.64%.
Malaysia is up 4 spots to 19th this year from 23rd last year, according to IMD World Competitiveness Index. US is 1st, Singapore 2nd and Hong Kong is 3rd.
Bursa is unlikely to get 30 IPOs this year if global, local challenges persist, says its CEO Yusli. However, foreigners are still keen on our local stocks.
Maybank says it is not in talks to buy more banks but looking to increase branches in Cambodia. It is committed to existing dividend payout.
Maybank third quarter earnings is recorded at RM758.6m vs RM 764.6m a year ago due to unrealized losses from marked-to-market derivatives and securities held for trading.
United Plantations first quarter net profit is recorded at RM 68.96m vs RM23.44 m a year ago due to higher output, selling price at CPO. Revenue is recorded at RM RM 226.45 m vs RM 126 m year ago.
Shell Refining first quarter profit is recorded at RM 122.5m vs Rm137.3m year ago due to lower refining margins, less stockholding gains. Revenue is recorded at RM 3.42 b vs RM2.19b
Keladi Maju chairman Tan Hua Choon’s family sells 85m shares or 11.2% from May 5-8. However, Tan still holds 65.5 m shares or 8.64%.
Malaysia is up 4 spots to 19th this year from 23rd last year, according to IMD World Competitiveness Index. US is 1st, Singapore 2nd and Hong Kong is 3rd.
Bursa is unlikely to get 30 IPOs this year if global, local challenges persist, says its CEO Yusli. However, foreigners are still keen on our local stocks.
Wednesday, May 14, 2008
KLCI closed 1.2 points up to 1287.74
KLCI closes 1.2 points at 1287.74. Tanjong rose 40 sen to RM 16.70, Leader steel was up 26 sen to 96 sen but Public Bank fell 30 sen to RM 11.60, BCHB was down 10 sen to 9.90.
Quill Capita Trust buys Tesco building in Jelutong, Penang for RM 132 m from IJM Properties. Acquisition to raise Quill properties to RM796m.
Boustead, Boustead Properties were suspended since 11.31 am pending announcements. Boustead properties was up 26sen to RM 4.64, Boustead was unchangedat RM 5.25.
Boustead Holdings is to announce takeover offer on Boustead Properties tomorrow. Stocks are suspended until 5 pm tomorrow.
Toyataki Inc of Japan bought 19.76% or 13 m share of Infortech Alliance on May 7 which Infortech Equities sold 14.3m shares same day.
Quill Capita Trust buys Tesco building in Jelutong, Penang for RM 132 m from IJM Properties. Acquisition to raise Quill properties to RM796m.
Boustead, Boustead Properties were suspended since 11.31 am pending announcements. Boustead properties was up 26sen to RM 4.64, Boustead was unchangedat RM 5.25.
Boustead Holdings is to announce takeover offer on Boustead Properties tomorrow. Stocks are suspended until 5 pm tomorrow.
Toyataki Inc of Japan bought 19.76% or 13 m share of Infortech Alliance on May 7 which Infortech Equities sold 14.3m shares same day.
Tuesday, May 13, 2008
KLCI is down by 6.55 point at 1286.54
KLCI closes 6.55 points down at 1286.54. DiGi dropped 45 sen to RM 24.80, IOICorp was down 15 sen to RM 7.25, YTLpower dropped 34 sen to RM 2.32, but SSteel rose 56 sen to RM 3.76.
AMMB net profit for FY Mar 31 is recorded at RM 668m vs net loss RM 282.45m a year ago. Fourth Quarter net profit is recorded at RM 217.5 m vs net loss RM 551.5m a year ago.
FSBM targets 1.5 m users by year end for UNOS mobile phone software that cuts down roaming charges. Currently there are 35,000 users in their service.
YTLPower’s new 11.68m new shares arising from exchange of US$7m 5-year zero coupon bonds 2005 to 2010 to list Wednesday.
This is supply and demand situation. No wonder there is a sell down in YTL power because there will be a lot of shares in the market tomorrow.
March Industrial product index up 3% on year, down from February’s 6.5%. Manufacturing is up 3.7% on year, lower than February’s 6.7%.
Ong Poo Choi ceases to be substantial shareholder of Keladi Maju on May 5 after selling 23 m shares in open market.
Australia’s Westpac Banking Corp buying rival St George Bank for US $17.6 b in all-share deal, creates nation’s biggest bank in market value.
Apple Inc signs deals with Asian celcos that will see its iPhone being sold in Singapore, India and Philippines in the next few months.
MISC FY net profit is recorded at RM 2.43b vs RM 2.85b a year ago. Revenue is recorded at RM 12.9 b vs Rm 11.2b. The fourth quarter net profit is recorded at RM 774 m vs Ram 702.6 m, revenue RM 3.5 b vs RM 2.86b.
AMMB net profit for FY Mar 31 is recorded at RM 668m vs net loss RM 282.45m a year ago. Fourth Quarter net profit is recorded at RM 217.5 m vs net loss RM 551.5m a year ago.
FSBM targets 1.5 m users by year end for UNOS mobile phone software that cuts down roaming charges. Currently there are 35,000 users in their service.
YTLPower’s new 11.68m new shares arising from exchange of US$7m 5-year zero coupon bonds 2005 to 2010 to list Wednesday.
This is supply and demand situation. No wonder there is a sell down in YTL power because there will be a lot of shares in the market tomorrow.
March Industrial product index up 3% on year, down from February’s 6.5%. Manufacturing is up 3.7% on year, lower than February’s 6.7%.
Ong Poo Choi ceases to be substantial shareholder of Keladi Maju on May 5 after selling 23 m shares in open market.
Australia’s Westpac Banking Corp buying rival St George Bank for US $17.6 b in all-share deal, creates nation’s biggest bank in market value.
Apple Inc signs deals with Asian celcos that will see its iPhone being sold in Singapore, India and Philippines in the next few months.
MISC FY net profit is recorded at RM 2.43b vs RM 2.85b a year ago. Revenue is recorded at RM 12.9 b vs Rm 11.2b. The fourth quarter net profit is recorded at RM 774 m vs Ram 702.6 m, revenue RM 3.5 b vs RM 2.86b.
Monday, May 12, 2008
KLCI closed 7.8 up on Monday
KLCI closed 7.8 points to 1,293.09. CPO was up RM 77 to RM 3,572. KLK rose 50 sen to RM 17.30, TMI rose 30 sen to RM 7.55, Kulim was up 30 sen to RM 8.35, IOICorp rose 25 sen to RM 7.40.
AmBank Group launches RM 200m capital guaranteed fund investing in Asia emerging markets including China, India.
Sunzen Biotech, which makes animal feed additives, feed supplements, has got SC nod to list on Mesdaq market.
TMC Life Science’s unit Stem Tech plans to provide stem cell business in region, set up cord blood bank in Indonesia.
US-based Hayman Capital buys 5.47% or 15.8 m shares of Pelikan International from open market.
AmBank Group launches RM 200m capital guaranteed fund investing in Asia emerging markets including China, India.
Sunzen Biotech, which makes animal feed additives, feed supplements, has got SC nod to list on Mesdaq market.
TMC Life Science’s unit Stem Tech plans to provide stem cell business in region, set up cord blood bank in Indonesia.
US-based Hayman Capital buys 5.47% or 15.8 m shares of Pelikan International from open market.
Friday, May 9, 2008
Market up 4.92 on Friday
KLCI closed up 4.92 points to 1285.27. There are 509 shares traded. F&N was up 45 sen to RM 9, PB Bank –F was up 30 sen to RM 11.90, PB Bank was up 20 sen to RM 11.80, DIGI was up by 20 sen to RM 25.
Steel importers will be exempted from import licences and paying import duties from Monday, says PM. Local steel makers are allowed to export. The cabinet has decided to abolish ceiling prices on steel for local market from Monday. Contractors for government projects can seek variations based on the new price.
BCHB first quarter net profit is recorded at RM 535.3 m vs RM 615.3m a year ago, revenue is at RM 2.02 b vs RM 2.1 b. EPS is recorded at 15.91 sen vs 19.13 sen due to tough global and local markets.
Securities Commission has launched probe into FX Capital Consultant, saying that it is unauthorized to deal in securities or provide fund management advice.
Hedge fund Platinum Global Dividend Fund substantial shareholder in NV Multi with 5.31% or 18.16 m shares after buying 1.16m shares recently.
World largest insurer American International Group first quarter net loss US$7.8b vs net income US$ 4.13 b a year ago, wrote down assets linked to subprime mortgages.
DIGI’s new 27.5m shares of 10 sen each will be listed on Monday. This concerned shares issued to TT Dotcom pursuant to transfer of 3G spectrum.
Steel importers will be exempted from import licences and paying import duties from Monday, says PM. Local steel makers are allowed to export. The cabinet has decided to abolish ceiling prices on steel for local market from Monday. Contractors for government projects can seek variations based on the new price.
BCHB first quarter net profit is recorded at RM 535.3 m vs RM 615.3m a year ago, revenue is at RM 2.02 b vs RM 2.1 b. EPS is recorded at 15.91 sen vs 19.13 sen due to tough global and local markets.
Securities Commission has launched probe into FX Capital Consultant, saying that it is unauthorized to deal in securities or provide fund management advice.
Hedge fund Platinum Global Dividend Fund substantial shareholder in NV Multi with 5.31% or 18.16 m shares after buying 1.16m shares recently.
World largest insurer American International Group first quarter net loss US$7.8b vs net income US$ 4.13 b a year ago, wrote down assets linked to subprime mortgages.
DIGI’s new 27.5m shares of 10 sen each will be listed on Monday. This concerned shares issued to TT Dotcom pursuant to transfer of 3G spectrum.
Thursday, May 8, 2008
KLCI closes 6.8 points down to 1280.35
KLCI closes 6.8 points down to 1280.35. CPO futures was up RM 82 to RM 3437. KLK was down 30 sen to RM 16.90, Tenaga was down 20 sen to RM 6.90 but VADS was up 45 sen to RM 6.40.
KLCI falls 11.2 points or 0.87% to 1275.95 midday. Singapore STI down 2.25%, Nikkei 225 down 0.84%. Ringgit was at 3.207 to US$1. .
EPF will sell 25% stake in RHB Cap at RM 7.20 per share or RM 3.87b to Abu Dhabi Commercial Bank. RHB Cap trading at RM 5.25 at 11 am.
Japan’s Sumitomo Bank in the running to buy 5% of RHB Cap from EPF, says EPF chief. EPF also to pare down 40 % stake in 2-3 years.
KSC Strategic Fund exits Efficient Solutions, sold 22.1 m shares or 6.7 % on April 28, ceased to be substantial shareholder.
KLCI falls 11.2 points or 0.87% to 1275.95 midday. Singapore STI down 2.25%, Nikkei 225 down 0.84%. Ringgit was at 3.207 to US$1. .
EPF will sell 25% stake in RHB Cap at RM 7.20 per share or RM 3.87b to Abu Dhabi Commercial Bank. RHB Cap trading at RM 5.25 at 11 am.
Japan’s Sumitomo Bank in the running to buy 5% of RHB Cap from EPF, says EPF chief. EPF also to pare down 40 % stake in 2-3 years.
KSC Strategic Fund exits Efficient Solutions, sold 22.1 m shares or 6.7 % on April 28, ceased to be substantial shareholder.
Wednesday, May 7, 2008
KLCI closed 11.06 at 1287.15 on Wednesday
KLCI closed 11.06 at 1287.15. Aeon rose RM1.10 to 10.90, SSteel was up 21 sen to RM 2.81, Genting was up 20 sen to RM 6.45. Oil price went up to US121.73 per barrel, CPO was up R 12 to RM 3,375.00.
EPF seeks Bank Negara nod to keep 40 % of RHB Cap, plans to sell further 5% to foreigners, including Japanese parties, says EPF chief.
Rebranded RHB Bank plans to open another 6 to 7 Islamic branches, 8 to 10 conventional branches this year, says RHB group MD.
JT Intl first quarter net profit was RM 30.75m vs RM 27.77 m a year ago. It declares tax exempt 28 sen special dividend, 15 sen interim dividend. It warns that difficult year ahead.
F&N second quarter earnings was up 33.5% to RM 47.9m vs RM 35.9m. Revenue was up 26.5% to RM 907 m. It declared a 17 sen gross dividend, 5 sen special dividend per share.
Ann Joo Resources first quarter net profit rose 164% to RM 102.9m vs RM 39m a year ago due to improvements in steel mill operations. Revenue was RM 671 m vs RM 446m.
SC warns against investments in products under Credit Suisse Investment offered by Beneficence International investment group.
All highway concessions will be reviewed and this may result in lower toll rates, says Works Minister Mohd Zin Mohamed.
This is a good news. How come Samy cannot do the review and Mohd Zin Mohamed can?
Petronas and partners find oil, gas in the Banda offshore field, Mauritania, according to Sydney-based Roc Oil.
Istima Permata Sdn Bhd buys into Equine Capital, acquired 20.8 m Equine shares or 10.8% on April 30.
EPF seeks Bank Negara nod to keep 40 % of RHB Cap, plans to sell further 5% to foreigners, including Japanese parties, says EPF chief.
Rebranded RHB Bank plans to open another 6 to 7 Islamic branches, 8 to 10 conventional branches this year, says RHB group MD.
JT Intl first quarter net profit was RM 30.75m vs RM 27.77 m a year ago. It declares tax exempt 28 sen special dividend, 15 sen interim dividend. It warns that difficult year ahead.
F&N second quarter earnings was up 33.5% to RM 47.9m vs RM 35.9m. Revenue was up 26.5% to RM 907 m. It declared a 17 sen gross dividend, 5 sen special dividend per share.
Ann Joo Resources first quarter net profit rose 164% to RM 102.9m vs RM 39m a year ago due to improvements in steel mill operations. Revenue was RM 671 m vs RM 446m.
SC warns against investments in products under Credit Suisse Investment offered by Beneficence International investment group.
All highway concessions will be reviewed and this may result in lower toll rates, says Works Minister Mohd Zin Mohamed.
This is a good news. How come Samy cannot do the review and Mohd Zin Mohamed can?
Petronas and partners find oil, gas in the Banda offshore field, Mauritania, according to Sydney-based Roc Oil.
Istima Permata Sdn Bhd buys into Equine Capital, acquired 20.8 m Equine shares or 10.8% on April 30.
Tuesday, May 6, 2008
PK Resources Bhd surged 65% above the offer price
PK Resources Bhd, which is being taken over by several major shareholders and several directors, saw its share price surging 32.9% or 24.5 sen to close at a nine-month high of 99 sen Tuesday.
At 99 sen, it is 39 sen or 65% above the offer price of 60 sen made to the minority shareholders on March 18. The offer became unconditional on April 23 and the closing date of the takeover offer ends today.
Why would people buy shares above 65% above the offer price? Maybe they are not aware that the offer price is 60 sen.
There were 4,100 shares transacted yesterday at prices ranging from 75 sen to 99 sen. Just before market close, stock market data showed there was a bid to buy a block of 5,000 shares at 71.5 sen while the selling price for a block of 1,900 shares at 99 sen.
Akarmas Sdn Bhd, Ragan Jaya Sdn Bhd and Pristine Acres Sdn Bhd held a combined 40.91% stake when they launched the takeover. PK Resources executive chairman Tan Sri Dr Gan Kong Seng, managing director Gan Eng Hong and executive director Datuk Gan Kong Hiok are also involved in the takeover.
The acquisition of the remaining 54.02% or 61.6 million shares at 60 sen each would cost RM36.96mil.
If you were to buy 50,000 shares at the price of 0.64 on April 9 and sold them at 0.99 on May 6, 2008, you would have made RM 16,895.40 within 27 days.
At 99 sen, it is 39 sen or 65% above the offer price of 60 sen made to the minority shareholders on March 18. The offer became unconditional on April 23 and the closing date of the takeover offer ends today.
Why would people buy shares above 65% above the offer price? Maybe they are not aware that the offer price is 60 sen.
There were 4,100 shares transacted yesterday at prices ranging from 75 sen to 99 sen. Just before market close, stock market data showed there was a bid to buy a block of 5,000 shares at 71.5 sen while the selling price for a block of 1,900 shares at 99 sen.
Akarmas Sdn Bhd, Ragan Jaya Sdn Bhd and Pristine Acres Sdn Bhd held a combined 40.91% stake when they launched the takeover. PK Resources executive chairman Tan Sri Dr Gan Kong Seng, managing director Gan Eng Hong and executive director Datuk Gan Kong Hiok are also involved in the takeover.
The acquisition of the remaining 54.02% or 61.6 million shares at 60 sen each would cost RM36.96mil.
If you were to buy 50,000 shares at the price of 0.64 on April 9 and sold them at 0.99 on May 6, 2008, you would have made RM 16,895.40 within 27 days.
KLCI closed 1.48 points higher to 1276.09
KLCI closes 1.48 points to 1276.09. Tenaga was up 30 sen to RM 7 but Maybank was down 30 sen to RM 7.70. PK Resources will be taken over at 60 sen a piece, up 24.5 sen to 99 sen.
Total volume traded today is 623 million shares.
Malaysia’s March exports rose 5.3% to RM 51.57 b, highest export value for month of March. Imports was up 2.6 % to RM 43.59b. Trade surplus was RM 7.89 b.
Silver Bird Group (SBG) to make bakery, confectionery under Tabung Haji new brand name. Tabung Haji owns 29.4 % of SBG, no plans for MGO.
Singapore-listed Nucleus Electronics buys 19m or 7.8% stake in Supercomal, ups stake to 15.64% or 38 m shares. Shares bought at 13.5 sen each.
Currency traders will not be allowed to borrow Ringgit for trading, sale to ensure 1997 currency crisis doesn’t recur: Second Finance Minister.
Total volume traded today is 623 million shares.
Malaysia’s March exports rose 5.3% to RM 51.57 b, highest export value for month of March. Imports was up 2.6 % to RM 43.59b. Trade surplus was RM 7.89 b.
Silver Bird Group (SBG) to make bakery, confectionery under Tabung Haji new brand name. Tabung Haji owns 29.4 % of SBG, no plans for MGO.
Singapore-listed Nucleus Electronics buys 19m or 7.8% stake in Supercomal, ups stake to 15.64% or 38 m shares. Shares bought at 13.5 sen each.
Currency traders will not be allowed to borrow Ringgit for trading, sale to ensure 1997 currency crisis doesn’t recur: Second Finance Minister.
Monday, May 5, 2008
KLCI closed 3.13 points up to 1274.61
KLCI closes 3.13 points up 1274.61. There are 493 million shares traded. Public Bank Foreign was up 30 sen to RM 11.70, Public Bank was up 20 sen to RM 11.60, but Puncak was down by 24 sen to RM 3.30.
KNM calls off RM 50 million acquisition of process equipment maker Pisces Engineering after signing memorandum of agreement in September 2007.
CPO futures were up RM 52 to RM 3393 on concerns hot weather could affect palm oil output. Aiatic was up by 15 sen to RM 7.95, Utd Plt was up 10 sen to RM 14 at 3.10pm.
BCHB will sell RM 1.5 b NPLs in an open tender, says CEO Nazir . He says, the current gross NPLs is at RM 7 billion. He says that the board also agreed to set up China representative office.
Maybank is buying 15% of Pakistan’s MCB Bank Ltd for RM 2.17 billion. It plans to acquire another 5% stake later.
Consumers must be prudent and spend within their means at a time when there is a global food supply shortage, says PM Abdullah Ahmad Badawi.
MEMs will resume trading on Tuesday after submitting outstanding annual report for FY ended July 31, 2007 on May 2. Last traded price was 14.5 sen.
KNM calls off RM 50 million acquisition of process equipment maker Pisces Engineering after signing memorandum of agreement in September 2007.
CPO futures were up RM 52 to RM 3393 on concerns hot weather could affect palm oil output. Aiatic was up by 15 sen to RM 7.95, Utd Plt was up 10 sen to RM 14 at 3.10pm.
BCHB will sell RM 1.5 b NPLs in an open tender, says CEO Nazir . He says, the current gross NPLs is at RM 7 billion. He says that the board also agreed to set up China representative office.
Maybank is buying 15% of Pakistan’s MCB Bank Ltd for RM 2.17 billion. It plans to acquire another 5% stake later.
Consumers must be prudent and spend within their means at a time when there is a global food supply shortage, says PM Abdullah Ahmad Badawi.
MEMs will resume trading on Tuesday after submitting outstanding annual report for FY ended July 31, 2007 on May 2. Last traded price was 14.5 sen.
Friday, May 2, 2008
KLCI is the worst performer in Asia on Friday
KLCI is the worst performer in Asia, closed down by 8.38 points to 1271.48. Volume traded is 568 m shares.
IOICorp was down 35 sens to RM6.95, Sime also down by 30 sen to RM 9.30, Time was down by 13 sens to 26.5 sen.
Global sales of semiconductors in the first quarter were up 3.8 percent to US$63.4b, from a year ago. However, sales fell 5.8% from US$66.8 b in fourth quarter last year.
Transmile unit defaults on payment of US$9.6m loan as cashflow from business is insufficient to repay the loan due to underutilisation of plan.
Proton inks MOU with EON to work on possible collaboration to rationalise existing Proton-EON distribution network, service centres.
2/5 Nasimuddin Amin, 53-year-old founder, chairman and CEO of Naza group, died in Los Angeles at 1.15 am.
Time Eng trading halted this morning. It will be suspended unless it submits a revamp proposal within 8 months. The shareholders equity is equaled or below 50% of paid up capital.
IOICorp was down 35 sens to RM6.95, Sime also down by 30 sen to RM 9.30, Time was down by 13 sens to 26.5 sen.
Global sales of semiconductors in the first quarter were up 3.8 percent to US$63.4b, from a year ago. However, sales fell 5.8% from US$66.8 b in fourth quarter last year.
Transmile unit defaults on payment of US$9.6m loan as cashflow from business is insufficient to repay the loan due to underutilisation of plan.
Proton inks MOU with EON to work on possible collaboration to rationalise existing Proton-EON distribution network, service centres.
2/5 Nasimuddin Amin, 53-year-old founder, chairman and CEO of Naza group, died in Los Angeles at 1.15 am.
Time Eng trading halted this morning. It will be suspended unless it submits a revamp proposal within 8 months. The shareholders equity is equaled or below 50% of paid up capital.
Thursday, May 1, 2008
Fed reduced interest rate to 2%
US Federal Reserve says interest rate cut by 25 basis points to 2%, seventh since September, should promote moderate growth over time.
It signals the US Fed is ready to consider a pause after the seventh cut.
30/4 SapuraCrest subsidiary gets US$182.5m contract from Petronas Carigali for deployment of offshore drilling rig.
It signals the US Fed is ready to consider a pause after the seventh cut.
30/4 SapuraCrest subsidiary gets US$182.5m contract from Petronas Carigali for deployment of offshore drilling rig.
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