KUALA LUMPUR: Investor sentiment at the local equity market is still jittery, and showing signs of caution as evident from the low trading volume at Bursa Malaysia on Monday, June 14. Although the European markets traded higher yesterday, and key Asian markets closed firmer, investor activity at Bursa Malaysia still demonstrated signs of nervousness. Added to that is the lack of fresh leads in the local corporate scene, which has kept investors very much on the sidelines.While the FBM KLCI gained 2.49 points to close at 1,297.16, total volume declined to 502.17 million shares yesterday from 733.25 million shares last Friday.
The European markets opened higher yesterday as shares hit a four-week high after data showed eurozone industrial output surged in April more than in any month in almost two decades, easing concerns that a slowdown in Europe could curb growth, according to Reuters.
Among the stocks that could be in focus on June 15 are Sime Darby Bhd, Boustead Heavy Industries Corp Bhd (BHIC), United Malacca Bhd, KUB Malaysia Bhd and Pharmaniaga Bhd.
Sime Darby announced the designation of Datuk Mohd Bakke Salleh as its new president and group chief executive, and said the appointment would take effect as soon as is practicable.
The conglomerate said that Mohd Bakke was chosen in view of his expertise and experience and his proven track record in managing large corporations.
Mohd Bakke is the group president and chief executive officer of Felda Global Ventures Holdings Sdn Bhd (Felda Global).
Sime Darby's chairman Tun Musa Hitam also said that in spite of the problems at its Energy and Utilities (E U) division, the other core divisions of the group were recording good results and that Sime Darby would make an overall profit for the current financial year.
Sime Darby shares had come under heavy selling pressure since reports emerged of huge losses in its E U division and a negative impact of RM964 million in the second half of its financial year ending June 30, 2010 from losses in the division.
Its former president and group chief executive Datuk Seri Ahmad Zubir Murshid was asked to take leave of absence on May 13 ahead of his contract expiring on Nov 26.
BHIC's wholly owned sub-subsidiary BYO Marine Sdn Bhd has received a government contract worth RM130.7 million.
BHIC yesterday said the company, which it holds through its unit Boustead Penang Shipyard Sdn Bhd, had received the a letter of award for the contract to design and build ten units of Fast Interceptor Craft for Malaysian Maritime Enforcement Agency.
KUB Malaysia unit, KUB Telekomunikasi Sdn Bhd, accepted a RM29.49 million contract for a project named "Projek Pembinaan Pusat Penyiaran Digital TV Al Hijrah for Al Hijrah Media Corporation".KUB said the contract was for 19 weeks, and was expected to contribute positively to its earnings for the financial year ending Dec 31, 2010. United Malacca proposed a final dividend of 25 sen, consisting of gross dividend 11 sen per share, tax-exempt dividend of 4.5 sen and single-tier dividend of 9.5 sen per share for the financial year ended April 30, 2010.
It posted a net profit RM14.46 million for its fourth quarter ended April 30, 2010 on the back of a RM48.86 million revenue. For the full year, its net profit was RM64.15 million compared to RM71.34 million. The company also proposed to undertake a bonus issue of 67 million bonus shares to be credited as fully paid-up, on the basis of one bonus share for every two existing shares.Meanwhile, Pharmaniaga Bhd could continue to attract attention after its closed at its highest level in five years yesterday after Boustead Holdings Bhd launched a RM534 million acquisition of Pharmaniaga to buy an 86.81% stake from UEM Group Bhd. Pharmaniaga on Monday rose 7.65% or 39 sen to RM5.49, its highest close since Jan 24, 2005.
The European markets opened higher yesterday as shares hit a four-week high after data showed eurozone industrial output surged in April more than in any month in almost two decades, easing concerns that a slowdown in Europe could curb growth, according to Reuters.
Among the stocks that could be in focus on June 15 are Sime Darby Bhd, Boustead Heavy Industries Corp Bhd (BHIC), United Malacca Bhd, KUB Malaysia Bhd and Pharmaniaga Bhd.
Sime Darby announced the designation of Datuk Mohd Bakke Salleh as its new president and group chief executive, and said the appointment would take effect as soon as is practicable.
The conglomerate said that Mohd Bakke was chosen in view of his expertise and experience and his proven track record in managing large corporations.
Mohd Bakke is the group president and chief executive officer of Felda Global Ventures Holdings Sdn Bhd (Felda Global).
Sime Darby's chairman Tun Musa Hitam also said that in spite of the problems at its Energy and Utilities (E U) division, the other core divisions of the group were recording good results and that Sime Darby would make an overall profit for the current financial year.
Sime Darby shares had come under heavy selling pressure since reports emerged of huge losses in its E U division and a negative impact of RM964 million in the second half of its financial year ending June 30, 2010 from losses in the division.
Its former president and group chief executive Datuk Seri Ahmad Zubir Murshid was asked to take leave of absence on May 13 ahead of his contract expiring on Nov 26.
BHIC's wholly owned sub-subsidiary BYO Marine Sdn Bhd has received a government contract worth RM130.7 million.
BHIC yesterday said the company, which it holds through its unit Boustead Penang Shipyard Sdn Bhd, had received the a letter of award for the contract to design and build ten units of Fast Interceptor Craft for Malaysian Maritime Enforcement Agency.
KUB Malaysia unit, KUB Telekomunikasi Sdn Bhd, accepted a RM29.49 million contract for a project named "Projek Pembinaan Pusat Penyiaran Digital TV Al Hijrah for Al Hijrah Media Corporation".KUB said the contract was for 19 weeks, and was expected to contribute positively to its earnings for the financial year ending Dec 31, 2010. United Malacca proposed a final dividend of 25 sen, consisting of gross dividend 11 sen per share, tax-exempt dividend of 4.5 sen and single-tier dividend of 9.5 sen per share for the financial year ended April 30, 2010.
It posted a net profit RM14.46 million for its fourth quarter ended April 30, 2010 on the back of a RM48.86 million revenue. For the full year, its net profit was RM64.15 million compared to RM71.34 million. The company also proposed to undertake a bonus issue of 67 million bonus shares to be credited as fully paid-up, on the basis of one bonus share for every two existing shares.Meanwhile, Pharmaniaga Bhd could continue to attract attention after its closed at its highest level in five years yesterday after Boustead Holdings Bhd launched a RM534 million acquisition of Pharmaniaga to buy an 86.81% stake from UEM Group Bhd. Pharmaniaga on Monday rose 7.65% or 39 sen to RM5.49, its highest close since Jan 24, 2005.
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