KUALA LUMPUR: Key Asian markets are expected to be given a boost on Wednesday, Aug 18 from the firmer overnight close on Wall Street which was boosted by earnings from Wal-Mart and Home Depot and a US$39 billion takeover bid in the agriculture sector bolstered confidence in the corporate outlook.
The two retailing giants reported profit that topped expectations, buoying the Dow industrials, according to Reuters.
The Dow Jones industrial average was up 103.84 points, or 1.01%, at 10,405.85. The Standard & Poor's 500 Index was up 13.16 points, or 1.22%, at 1,092.54. The Nasdaq Composite Index was up 27.57 points, or 1.26%, at 2,209.44.
Stocks to watch on Bursa Malaysia are'' TMC LIFE SCIENCES BHD [], EON CAPITAL BHD [] (EONCap), MBM RESOURCES BHD [] and UMW HOLDINGS BHD [], Malaysian Airports (MAHB).
The Edge FinancialDaily reports that a 25% stake, representing 149.55 million shares in healthcare player TMC Life Sciences Bhd changed hands in two off-market trades for a sum of RM77.76 million or 52 sen per share yesterday.
Also The Edge FinancialDaily reports that in yet another twist to the EONCap takeover saga, a lawsuit filed by a minority shareholder against the bank last week has been withdrawn, following an out-of-court settlement between the two parties.
MBM Resources net profit for the second quarter ended June 30, 2010 surged 176.8% to RM38.6 million from RM13.95 million a year earlier, driven strong orders.
Revenue rose 52.8% to RM404.8 million from RM264.93 million. Earnings per share was 16.02 sen.
The company de Malaysia Airports Holdings Bhd (MAHB) recorded a net profit of RM132.11 million in the first half of the financial year ended June 30, 2010, 14% lower from RM153 million in the same period last year, as the adoption of FRS139 accounting standard beginning form this financial year led to larger losses from associate companies.
Revenue, however, grew 11.41% to RM872.19 million from RM782.89 million in 2009, driven by strong passenger traffic growth of 20% and non airport revenue such as retail, rental and royalty recorded an impressive growth of 20.8% and 11.065 respectively.clared a first interim single tier dividend of five sen per share for financial year ended Dec 31, 2010.
UMW secured a US$183.12 million contract from HESS (Indonesia-Pangkah) Ltd for the provision of its NAGA 2 rig and drilling services.
UMW said the provision of the NAGA 2 jack-up drilling rig and drilling services for the Pangkah WHP-B development drilling programme in the Ujung Pangkah field located in the Pangkah PSC - offshore, East Java, comprising seven firm wells and 13 option wells.
AMMB reported a 42.6% jump in its 1Q net profit to RM368.28 million from RM258.24 million a year ago, underpinned by higher revenues and lower allowances, and good loans and CASA (current account saving account) growth.
Revenue for the quarter rose to RM1.7 billion from RM1.57 billion a year ago, while earnings per share improved to 12.24 sen from 9.48 sen.
Malaysia Airports Holdings Bhd (MAHB) recorded a net profit of RM132.11 million in the first half of the financial year ended June 30, 2010, 14% lower from RM153 million in the same period last year, as the adoption of FRS139 accounting standard beginning form this financial year led to larger losses from associate companies.
Revenue, however, grew 11.41% to RM872.19 million from RM782.89 million in 2009, driven by strong passenger traffic growth of 20% and non airport revenue such as retail, rental and royalty recorded an impressive growth of 20.8% and 11.065 respectively.
Integrated oil & gas brown field services provider, PETRA ENERGY BHD [] recorded turnover of RM172.1million in the second quarter ended June 30 versus RM120.6million a year ago.
However, it recorded a loss before tax of RM500,000 versus pre-tax profit of RM10.1 million a year ago. Loss after tax was RM2.4million compared to profit after tax of RM6.5 million.
The loss before tax was mainly due to provisions. However, Petra energy said the'' provisions made for the previous year's shortcomings in business activities 'do not in any way affect the performance of the current Hook-up commissioning projects, which is progressing on schedule and with good margins'.
The two retailing giants reported profit that topped expectations, buoying the Dow industrials, according to Reuters.
The Dow Jones industrial average was up 103.84 points, or 1.01%, at 10,405.85. The Standard & Poor's 500 Index was up 13.16 points, or 1.22%, at 1,092.54. The Nasdaq Composite Index was up 27.57 points, or 1.26%, at 2,209.44.
Stocks to watch on Bursa Malaysia are'' TMC LIFE SCIENCES BHD [], EON CAPITAL BHD [] (EONCap), MBM RESOURCES BHD [] and UMW HOLDINGS BHD [], Malaysian Airports (MAHB).
The Edge FinancialDaily reports that a 25% stake, representing 149.55 million shares in healthcare player TMC Life Sciences Bhd changed hands in two off-market trades for a sum of RM77.76 million or 52 sen per share yesterday.
Also The Edge FinancialDaily reports that in yet another twist to the EONCap takeover saga, a lawsuit filed by a minority shareholder against the bank last week has been withdrawn, following an out-of-court settlement between the two parties.
MBM Resources net profit for the second quarter ended June 30, 2010 surged 176.8% to RM38.6 million from RM13.95 million a year earlier, driven strong orders.
Revenue rose 52.8% to RM404.8 million from RM264.93 million. Earnings per share was 16.02 sen.
The company de Malaysia Airports Holdings Bhd (MAHB) recorded a net profit of RM132.11 million in the first half of the financial year ended June 30, 2010, 14% lower from RM153 million in the same period last year, as the adoption of FRS139 accounting standard beginning form this financial year led to larger losses from associate companies.
Revenue, however, grew 11.41% to RM872.19 million from RM782.89 million in 2009, driven by strong passenger traffic growth of 20% and non airport revenue such as retail, rental and royalty recorded an impressive growth of 20.8% and 11.065 respectively.clared a first interim single tier dividend of five sen per share for financial year ended Dec 31, 2010.
UMW secured a US$183.12 million contract from HESS (Indonesia-Pangkah) Ltd for the provision of its NAGA 2 rig and drilling services.
UMW said the provision of the NAGA 2 jack-up drilling rig and drilling services for the Pangkah WHP-B development drilling programme in the Ujung Pangkah field located in the Pangkah PSC - offshore, East Java, comprising seven firm wells and 13 option wells.
AMMB reported a 42.6% jump in its 1Q net profit to RM368.28 million from RM258.24 million a year ago, underpinned by higher revenues and lower allowances, and good loans and CASA (current account saving account) growth.
Revenue for the quarter rose to RM1.7 billion from RM1.57 billion a year ago, while earnings per share improved to 12.24 sen from 9.48 sen.
Malaysia Airports Holdings Bhd (MAHB) recorded a net profit of RM132.11 million in the first half of the financial year ended June 30, 2010, 14% lower from RM153 million in the same period last year, as the adoption of FRS139 accounting standard beginning form this financial year led to larger losses from associate companies.
Revenue, however, grew 11.41% to RM872.19 million from RM782.89 million in 2009, driven by strong passenger traffic growth of 20% and non airport revenue such as retail, rental and royalty recorded an impressive growth of 20.8% and 11.065 respectively.
Integrated oil & gas brown field services provider, PETRA ENERGY BHD [] recorded turnover of RM172.1million in the second quarter ended June 30 versus RM120.6million a year ago.
However, it recorded a loss before tax of RM500,000 versus pre-tax profit of RM10.1 million a year ago. Loss after tax was RM2.4million compared to profit after tax of RM6.5 million.
The loss before tax was mainly due to provisions. However, Petra energy said the'' provisions made for the previous year's shortcomings in business activities 'do not in any way affect the performance of the current Hook-up commissioning projects, which is progressing on schedule and with good margins'.
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