Stock Market Books

Wednesday, April 30, 2008

KLCI down on Wednesday

KLCI closed down by 3.79 to 1279.86. There were 563 m shares traded valued at RM 1.374 b.

Khazanah Nasional to buy additional 16.41 % stake in Singapore’s Parkway Holdings for S$531.51m cash or RM 1.23b, ups stake to 20.79%.

Golden Plus is unable to submit audited accounts for FY ended Dec 31, 2007 by today’s deadline. It is expected that the company will submit the accounts by July 31only.

JPK chairman Liew Lai Ping saw 8.72m shares or 19.3% stake forced sold on Aprl 28-29 at prices from 20.9c to 29.4c for RM 2.19m.

Citigroup Inc sells US$3 b stocks to boost capital after hit by writedown on subprime mortgages, bonds. It has raised US$30b capital by selling stocks since December.

SapuraCrest subsidiary gets US$182.5m contract from Petronas Carigali for deployment of offshore drilling rig.

Investigative audit of Satang shows alleged overstated revenue of RM39.27m of which RM 35.4m was invalid sales without supporting documents.

Another case of false accounting.

29/4 VADS first quarter earnings is RM 13.33m vs RM 8.3 m a year ago due to allowance for doubtful debts then and also lower cost of sales. Revenue is RM 115.6 m vs RM114 m.

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