Stock Market Books

Tuesday, June 10, 2008

KLCI dropped slightly only while 12 Asian markets close lower

10/6/2008 KLCI closes just 0.02pt down at 1,230.96. Bland fell 26 sen to RM 4.06, Parkson dropped 25 sen to RM 5.55, KNM rose 20 sen to RM 6.40. CPO falls RM82 to RM 3,578.00

Hwang-DBS third quarter earnings is recorded at RM 6.5m vs RM 31.9m a year ago due to lower fees, unrealized loss from market-to-market securities held for trading.

12 Asian markets close lower. Hang Seng Index fell 4.21% or 1,026 pts to 22,375, Shanghai Composite dropped 7.73 %, Nikkei 22 down 1.1%, Singapore STI fell 1.57%.

Sime Darby ends the services of the group CFO Razidan Ghazalli, group’s vice president Muhammad Mohan Kittu Abdullah over RM 120m trading losses.

Sime Darby says the RM 120m trading losses by CFO, vice-president were made at GHope subsidiary and discovered in August 2007.

Sime spokesman says appropriate provisions made for RM 120m losses, group’s future profitability unaffected by the past losses.

PMB Technology, which exports 90% of aluminium products, cautiously optimistic about earnings this year amidst oil price surge.

Dual Review (M) Sdn Bhd sold 13.12 m Inch Kenneth shares in open market on May 20, ceased to be substantial shareholder.

Taliworks deemed interest in 25.48 m Sunway Infrastruture shares following acquisition by Cerah Sama on June 2.

9/6 KLCI closes 17.6 points lower at 1230.98. Tenaga dropped 75 sen to RM 8.25, Kulim down35 sen to RM 9.60. Oil is recorded US$137.74. CPO rose RM 63 to RM 3663.

9/6 Indonesian firm PT Kharisma Inti Persada sues Yeo Hiap Seng, subsidiary for RM 77 m over alleged breach of alleged distribution.

9/6 Bursa Securities rejects MEMS Tech bid for waiver to submit regularization plan, upliftment from guidance note 3 classification.

9/6 KUB 60% subsidiary secures RM 28.3m contract from the Education Ministry for ICT infrastructure in Selangor schools.

9/6 FACTS Global Energy Crop head sees large correction in price in summer. See oil hitting US$150 to US$180 before US demand falls.

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