KUALA LUMPUR: Markets could start off the new week, Monday, Nov 22 on a cautious note after the major stock indexes finished slightly higher on Wall Street on Friday. China's central bank move to up the bank reserve requirements for the second time in two weeks, stepping up its fight to rein in prices in a move that could temper growth, kept buying in check.
The Dow Jones industrial average added 22.32 points, or 0.20%, to 11,203.55. The Standard & Poor's 500 Index edged up 3.04 points, or 0.25%, at 1,199.73. The Nasdaq Composite Index put on 3.72 points, or 0.15%, to 2,518.12.
Reuters said after a nearly 13% run-up in September and October, the S&P 500 has slipped 2.1% in the last two weeks on concerns of tightening in China and debt woes in Europe. A financial aid plan to help Ireland cope with its battered banks will be unveiled next week, EU sources said on Friday.
Stocks to watch on Bursa Malaysian on Monday include QSR BRANDS BHD [], TAN CHONG MOTOR HOLDINGS BHD [], RCE CAPITAL BHD [] and ZELAN BHD []. Also in focus would be Kimlun Corp Bhd, Tradewinds PLANTATION [] Bhd and Sinotop Holdings Bhd.
Tan Sri Halim Saad made a preliminary proposal to acquire all the entire business and undertakings of QSR Brands Bhd.
The offer was made via Idaman Saga Sdn Bhd, a private company owned by Tan Sri Halim Saad and Datuk Che Mokhtar'' Che Ali. No quantum of the financial offer was made known.
Tan Chong Motor recorded a 43.3% increase in net profit of RM49.34 million for the third quarter ended Sept 30, 2010 from RM34.43 million a year ago but it was more cautious in the remaining part of the year.
Revenue rose 16.8% to RM871.59 million from RM745.76 million. Earnings per share were 7.56 sen compared with 5.27 sen a year ago. Net asset per share was RM2.50.
RCE Capital earnings rose 65% to RM31.24 million in the second quarter ended Sept 30, 2010 as its new Syariah-based financing products picked up. It expected its performance to improve for the rest of the year.
Kimlun'' posted net profit RM8.39 million for the third quarter ended Sept 30, 2010 on the back of revenue RM119.41 million mainly due to a higher contribution from the CONSTRUCTION [] segment.
Tradewinds Plantation net profit doubled to RM50.29 million in the third quarter ended Sept 30, 2010 from RM24.41 a year ago as it benefited from higher prices of palm products and an increase in fresh fruit bunches.
On the downside to the corporate results, Zelan sank deeper into the red with losses of RM35.1 million, surpassing its revenue of RM30.70 million in the second quarter ended Sept 30, 2010 following cost overruns at its overseas projects.
Sinotop posted net loss RM6.46 million in the third quarter ended Sept 30, 2010 mainly due to impairments and unrealised loss on foreign exchange.
The Dow Jones industrial average added 22.32 points, or 0.20%, to 11,203.55. The Standard & Poor's 500 Index edged up 3.04 points, or 0.25%, at 1,199.73. The Nasdaq Composite Index put on 3.72 points, or 0.15%, to 2,518.12.
Reuters said after a nearly 13% run-up in September and October, the S&P 500 has slipped 2.1% in the last two weeks on concerns of tightening in China and debt woes in Europe. A financial aid plan to help Ireland cope with its battered banks will be unveiled next week, EU sources said on Friday.
Stocks to watch on Bursa Malaysian on Monday include QSR BRANDS BHD [], TAN CHONG MOTOR HOLDINGS BHD [], RCE CAPITAL BHD [] and ZELAN BHD []. Also in focus would be Kimlun Corp Bhd, Tradewinds PLANTATION [] Bhd and Sinotop Holdings Bhd.
Tan Sri Halim Saad made a preliminary proposal to acquire all the entire business and undertakings of QSR Brands Bhd.
The offer was made via Idaman Saga Sdn Bhd, a private company owned by Tan Sri Halim Saad and Datuk Che Mokhtar'' Che Ali. No quantum of the financial offer was made known.
Tan Chong Motor recorded a 43.3% increase in net profit of RM49.34 million for the third quarter ended Sept 30, 2010 from RM34.43 million a year ago but it was more cautious in the remaining part of the year.
Revenue rose 16.8% to RM871.59 million from RM745.76 million. Earnings per share were 7.56 sen compared with 5.27 sen a year ago. Net asset per share was RM2.50.
RCE Capital earnings rose 65% to RM31.24 million in the second quarter ended Sept 30, 2010 as its new Syariah-based financing products picked up. It expected its performance to improve for the rest of the year.
Kimlun'' posted net profit RM8.39 million for the third quarter ended Sept 30, 2010 on the back of revenue RM119.41 million mainly due to a higher contribution from the CONSTRUCTION [] segment.
Tradewinds Plantation net profit doubled to RM50.29 million in the third quarter ended Sept 30, 2010 from RM24.41 a year ago as it benefited from higher prices of palm products and an increase in fresh fruit bunches.
On the downside to the corporate results, Zelan sank deeper into the red with losses of RM35.1 million, surpassing its revenue of RM30.70 million in the second quarter ended Sept 30, 2010 following cost overruns at its overseas projects.
Sinotop posted net loss RM6.46 million in the third quarter ended Sept 30, 2010 mainly due to impairments and unrealised loss on foreign exchange.
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