Hot Stock Time Engineering rises 4% on big dividend yield

Hot Stock Time Engineering rises 4% on big dividend yield
Business & Markets 2013
Written by Kamarul Anw ar of theedgemalaysia.com
Monday, 27 May 2013 12:10

KUALA LUMPUR: TIME ENGINEERING BHD [] (TEB) became investors’
favourite in morning trades as the stock is offering a handsome net
dividend yield of 8.45% for its financial year ended December 2012
(FY12).

At 11:39 am, Time shares rose 1.5 sen or 4.23% to 37 sen with 37.51
million shares transacted. The counter was trading between 36 sen and
38.5 sen a unit earlier.

Last Wednesday, TEB announced a final net dividend of three sen per
share for FY12, with June 18 as ex-date. At the last closing price of 35.5
sen, the stock is offering a net dividend yield of 8.45%.

Dealers said amid “a good market” activity today, investors are looking at
penny stocks that have not moved for a while. They said the company’s
dividend yield could be a major factor in attracting interest to the counter.

SJ Securities senior remisier Goh Kay Chong told theedgemalaysia.com
that apart from the dividend play, TEB has been sought after by
institutional buyers since May 7.

“They slowly accumulated shares on that date. On May 20, these funds
came back in a big way and they are still in the market now (for TEB
shares),” said Goh.

In fact on March 21, institutional funds had started buying TEB shares in
a big way. Bloomberg data shows that 24.5 million of TEB shares
changed hands on that day.

“It’s almost a no-brainer that with a dividend yield that high, investors
wouldn’t want (TEB) shares,” another dealer said.

Comment by Winston Goh: The in and out of the institutional buyer is the key to winning the market.

Market Close: KLCI up 0.45%, pares gains after hitting 1,781 pts

Market Close: KLCI up 0.45%, pares gains after hitting 1,781 pts
Written by Kamarul Anwar of theedgemalaysia.com
Monday, 20 May 2013 17:27

KUALA LUMPUR (May 20): The FBM KLCI pared gains minutes before
market close after rising as many as 11.89 points, though the overall
sentiment was generally positive.

At 5 pm, the benchmark closed 7.99 points or 0.45% higher at 1,777.15
points. It was trading within the range of 1,770.95 points and 1,781.05
points.

A total of 2.85 billion shares worth RM2.66 billion were traded on a day
that saw gainers thumped decliners by five-fold, at 845 and 163
respectively.

The KLCI was lifted to the positive territory by UMW Holdings Bhd, UEM
Land Holdings Bhd, Petronas Dagangan Bhd and British American Tobacco (M) Bhd.

SJ Securities senior remisier Goh Kay Chong told theedgemalaysia.com that the local stock market is still on an uptrend.

“We are on a bull-run,” he said.

“Having said that, investors should be careful when it comes to investing. They need to rely on technical charts to get the timing right,” Goh commented.

While the recent announcement of Malaysia’s gross domestic product (GDP) growth was at a lower-than-predicted level of 4.1%, Goh said the country is expected to grow with more projects in the pipeline.

“We are still looking at a full-year growth of 5% of GDP. So the market still has an upside; with investors looking at construction, finance and oil and gas stocks.

“With these blue-chips gaining traction, the second- and third-liners will then also pick up,” said Goh.
Across the exchange, Luster Industries Bhd was the most-traded stock. It was followed by Daya Materials Bhd and Iris Corporation Bhd.

Top gainers included second liners Cahya Mata Sarawak Bhd, Naim Holdings Bhd and Deleum Bhd.
Top decliners were Genting Plantations Bhd, Jobstreet Corporation Bhd and KLCC Real Estate Investment Trust.

Other exchanges in the Asia Pacific also closed higher.
Japan’s Nikkei was up 222.69 points or 1.47%, Hong Kong’s Hang Seng gained 410.35 points or 1.78%, China’s Shanghai

Composite Index gained 17.61 points or 0.77%, Australia’s ASX 200 was up 28.26 points or 0.55% and Singapore’s Straits Times Index gained 4.22 points or 0.12%.

However, Korea’s Kospi lost 4.38 points or 0.22%.