KUALA LUMPUR: Key regional markets are expected to open softer, including Bursa Malaysia, on Friday, Aug 6 on concerns about a weakening US economy after Wall Street closed slightly lower.
On Wall Street, the Dow Jones industrial average was down 5.45 points, or 0.05%, at 10,674.98. The benchmark Standard & Poor's 500 Index was down 1.43 points, or 0.13%, at 1,125.81. The Nasdaq Composite Index was down 10.51 points, or 0.46%, at 2,293.06.
Reuters reported US and European stocks dropped on Thursday after an unexpected rise in weekly U.S. jobless claims underscored the weakening economy, and the euro ended slightly stronger against the dollar a day ahead of the U.S. government's monthly payrolls report.
The number of Americans making new claims for jobless benefits rose by 19,000 to 479,000 in the week ended July 31 -- the highest level in nearly four months
Stocks to watch on Bursa Malaysia are SIME DARBY BHD [], MUDAJAYA GROUP BHD [], NOTION VTEC BHD [], Fraser & Neave Holdings Bhd, Genetec TECHNOLOGY [] Bhd and Malaysia Airports Holdings Bhd (MAHB).
Company officials of Sime Darby Bhd said the company's performance for June 30, 2010 will not reach the levels of the alleged net losses of RM2 billion to RM2.5 billion, as reported by an online news portal.
However, the company expected to make profit for the full year ended June 30, 2010. Its share price came under selling pressure on Thursday on concerns of higher provisioning for its energy and utilities division.
News reports state a Sime Darby general manager is expected to be charged on Friday with graft totaling RM300,000.
Shares of Mudajaya continued their descent, plunging 20.5% on Thursday as news reports of a probe into the company by the Securities Commission (SC) and a circulating "poison-pen letter" made investors jittery. Shares of the CONSTRUCTION [] company tumbled RM1.01 to close at RM3.92, from RM4.
Notion VTec posted net profit of RM2.97m in its third quarter ended June 30, 2010, down sharply from the RM11.1 million a year ago as earnings were impacted by the initial start-up cost of new projects.
Revenue for 3Q rose 36% to RM60.8 million from RM44.71 million a year ago but expects the 4Q revenue to be lower due to lower orders from the'' hard disk drive (HDD) components sector.
Fraser & Neave posted net profit of RM70 million for its third quarter ended June 30, 2010 compared with RM59.12 million a year ago as it benefited from lower tax rate.
Group revenue increased 7% to RM893 million mainly driven by strong volume growth in soft drinks.
ACE-listed machine design specialist Genetec Technology Bhd is expecting a double-digit growth for its revenue for the financial year ended March 31, 2011, as expects to increase its order book.
The company has an outstanding book order of RM48 million''for the current financial year, and expects to secure more. Its unbilled RM48 million orders are expected to contribute to its earnings in the next few quarters.
Genetec expects the order book to exceed its total RM50 million order book last year.
MAHB plans to issue up to RM3.1 billion in debt notes to part fund its new terminal at the KL International Airport and/or refinance its existing borrowings.
Proceeds raised from the proposed sukuk programmes will be used to part finance the construction of a new terminal'' which is expected to be completed by the end of the first quarter of 2012 and/or to refinance MAHB's existing borrowings/financings which were utilised for Shariah-compliant purposes and/or for MAHB's Shariah-compliant general corporate purposes.
On Wall Street, the Dow Jones industrial average was down 5.45 points, or 0.05%, at 10,674.98. The benchmark Standard & Poor's 500 Index was down 1.43 points, or 0.13%, at 1,125.81. The Nasdaq Composite Index was down 10.51 points, or 0.46%, at 2,293.06.
Reuters reported US and European stocks dropped on Thursday after an unexpected rise in weekly U.S. jobless claims underscored the weakening economy, and the euro ended slightly stronger against the dollar a day ahead of the U.S. government's monthly payrolls report.
The number of Americans making new claims for jobless benefits rose by 19,000 to 479,000 in the week ended July 31 -- the highest level in nearly four months
Stocks to watch on Bursa Malaysia are SIME DARBY BHD [], MUDAJAYA GROUP BHD [], NOTION VTEC BHD [], Fraser & Neave Holdings Bhd, Genetec TECHNOLOGY [] Bhd and Malaysia Airports Holdings Bhd (MAHB).
Company officials of Sime Darby Bhd said the company's performance for June 30, 2010 will not reach the levels of the alleged net losses of RM2 billion to RM2.5 billion, as reported by an online news portal.
However, the company expected to make profit for the full year ended June 30, 2010. Its share price came under selling pressure on Thursday on concerns of higher provisioning for its energy and utilities division.
News reports state a Sime Darby general manager is expected to be charged on Friday with graft totaling RM300,000.
Shares of Mudajaya continued their descent, plunging 20.5% on Thursday as news reports of a probe into the company by the Securities Commission (SC) and a circulating "poison-pen letter" made investors jittery. Shares of the CONSTRUCTION [] company tumbled RM1.01 to close at RM3.92, from RM4.
Notion VTec posted net profit of RM2.97m in its third quarter ended June 30, 2010, down sharply from the RM11.1 million a year ago as earnings were impacted by the initial start-up cost of new projects.
Revenue for 3Q rose 36% to RM60.8 million from RM44.71 million a year ago but expects the 4Q revenue to be lower due to lower orders from the'' hard disk drive (HDD) components sector.
Fraser & Neave posted net profit of RM70 million for its third quarter ended June 30, 2010 compared with RM59.12 million a year ago as it benefited from lower tax rate.
Group revenue increased 7% to RM893 million mainly driven by strong volume growth in soft drinks.
ACE-listed machine design specialist Genetec Technology Bhd is expecting a double-digit growth for its revenue for the financial year ended March 31, 2011, as expects to increase its order book.
The company has an outstanding book order of RM48 million''for the current financial year, and expects to secure more. Its unbilled RM48 million orders are expected to contribute to its earnings in the next few quarters.
Genetec expects the order book to exceed its total RM50 million order book last year.
MAHB plans to issue up to RM3.1 billion in debt notes to part fund its new terminal at the KL International Airport and/or refinance its existing borrowings.
Proceeds raised from the proposed sukuk programmes will be used to part finance the construction of a new terminal'' which is expected to be completed by the end of the first quarter of 2012 and/or to refinance MAHB's existing borrowings/financings which were utilised for Shariah-compliant purposes and/or for MAHB's Shariah-compliant general corporate purposes.
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