KUALA LUMPUR: Key Asian markets are expected to open on a cautious note on Wednesday, July 7 on mixed signals. Global equity markets had rallied on fresh economic optimism but on Wall Street, buying eased on more weak US data.
According to Reuters, the major indices ended a five-day string of losses after the S&P 500 closed at a 10-month low on Friday. However, investors used the morning's gains as an opportunity to sell rather than establish new long positions.
The Dow Jones industrial average was up 57.14 points, or 0.59 percent, at 9,743.62. The Standard & Poor's 500 Index was up 5.48 points, or 0.54 percent, at 1,028.06. The Nasdaq Composite Index was up 2.09 points, or 0.10 percent, at 2,093.88.
Among the stocks to watch are SAPURACREST PETROLEUM BHD [], TOMYPAK HOLDINGS BHD [], TECK GUAN PERDANA BHD [], PLUS EXPRESSWAYS BHD [] and Adventa.
SapuraCrest Petroleum is bidding for RM3 billion worth of contracts locally and overseas, said its chief executive officer, Rohaizad Darus. Of the amount, he said, about RM1.4 billion were local contracts and the rest overseas.
As for Tomypak, it had proposed a share split involving the subdivision of every one RM1 share into two 50 sen shares. It also proposed a bonus issue of up to 21.728 million new subdivided shares on the basis of one bonus share for every four subdivided shares held.
Teck Guan Perdana Bhd has reported that its outstanding receivables for more than 12 months totalled RM71.56 million. It expected full recovery by end of January 2012. It expected RM39.61 million to be settled within 12 months and the remaining RM31.95 million to be resolved within one to two years.
PLUS Expressways Bhd's unit Projek Lebuhraya Utara-Selatan Bhd has been given the nod by the government to undertake the CONSTRUCTION [] of the fourth lane along certain stretches of expressways at an estimated cost of RM1.43 billion.
PLUS said the Ministry of Works had informed it the government had agreed to the construction of the fourth lane along the Shah Alam to Rawang, Shah Alam to Jalan Duta and a section from Nilai (North) to Seremban expressways.
Meanwhile, Lembaga Tabung Haji has emerged as a substantial shareholder in glove maker Adventa with 5.08% or 7.67 million shares. The pilgrims fund acquired 223,400 shares on July 2, which saw it crossing the 5% threshold.
CB INDUSTRIAL PRODUCT HOLDING [] Bhd (CBIP) unit Modipalm Engineering Sdn Bhd has secured orders worth a total RM53.93 million from Wilmar Group to build and supply four Modipalm continuous steriliser palm oil mills.
Three of the mills would have the capacity to produce 30 tonnes of fresh fruit bunches (FFB) per hour, and one with the capacity to produce 45 tonnes FFB per hour' complete with mechanical and electrical works.
According to Reuters, the major indices ended a five-day string of losses after the S&P 500 closed at a 10-month low on Friday. However, investors used the morning's gains as an opportunity to sell rather than establish new long positions.
The Dow Jones industrial average was up 57.14 points, or 0.59 percent, at 9,743.62. The Standard & Poor's 500 Index was up 5.48 points, or 0.54 percent, at 1,028.06. The Nasdaq Composite Index was up 2.09 points, or 0.10 percent, at 2,093.88.
Among the stocks to watch are SAPURACREST PETROLEUM BHD [], TOMYPAK HOLDINGS BHD [], TECK GUAN PERDANA BHD [], PLUS EXPRESSWAYS BHD [] and Adventa.
SapuraCrest Petroleum is bidding for RM3 billion worth of contracts locally and overseas, said its chief executive officer, Rohaizad Darus. Of the amount, he said, about RM1.4 billion were local contracts and the rest overseas.
As for Tomypak, it had proposed a share split involving the subdivision of every one RM1 share into two 50 sen shares. It also proposed a bonus issue of up to 21.728 million new subdivided shares on the basis of one bonus share for every four subdivided shares held.
Teck Guan Perdana Bhd has reported that its outstanding receivables for more than 12 months totalled RM71.56 million. It expected full recovery by end of January 2012. It expected RM39.61 million to be settled within 12 months and the remaining RM31.95 million to be resolved within one to two years.
PLUS Expressways Bhd's unit Projek Lebuhraya Utara-Selatan Bhd has been given the nod by the government to undertake the CONSTRUCTION [] of the fourth lane along certain stretches of expressways at an estimated cost of RM1.43 billion.
PLUS said the Ministry of Works had informed it the government had agreed to the construction of the fourth lane along the Shah Alam to Rawang, Shah Alam to Jalan Duta and a section from Nilai (North) to Seremban expressways.
Meanwhile, Lembaga Tabung Haji has emerged as a substantial shareholder in glove maker Adventa with 5.08% or 7.67 million shares. The pilgrims fund acquired 223,400 shares on July 2, which saw it crossing the 5% threshold.
CB INDUSTRIAL PRODUCT HOLDING [] Bhd (CBIP) unit Modipalm Engineering Sdn Bhd has secured orders worth a total RM53.93 million from Wilmar Group to build and supply four Modipalm continuous steriliser palm oil mills.
Three of the mills would have the capacity to produce 30 tonnes of fresh fruit bunches (FFB) per hour, and one with the capacity to produce 45 tonnes FFB per hour' complete with mechanical and electrical works.
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