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.