KUALA LUMPUR: Key Asian markets, including Bursa Malaysia, could advance in late window dressing activities on Thursday, Dec 30, as investors sentiment is galvanized by the firm overnight close on Wall Street.
Reuters reported that the S&P 500 headed for its best December in nearly two decades as U.S. stocks advanced in thin trade on Wednesday, lifted by investor optimism about the economy in 2011.
The Dow Jones industrial average was up 10.52 points, or 0.09 percent, at 11,586.06. The Standard & Poor's 500 Index was up 1.34 points, or 0.11 percent, at 1,259.85. The Nasdaq Composite Index was up 4.05 points, or 0.15 percent, at 2,666.93.
At Bursa Malaysia, the FBM KLCI closed at a seven week high of 1,524.34 on Wednesday, Dec 29, which was just four points below its all-time closing high of 1,528.01 on Nov 10, reflecting the optimism in most key regional markets.
The 30-stock benchmark index advanced 0.45% or 6.90 points to close at 1,524.34, lifted by gains in key blue chips including Genting, DiGi as well index-linked PLANTATION [] stocks.
Stocks to watch on Thursday are EKOVEST BHD [], TELEKOM MALAYSIA BHD [], SEALINK INTERNATIONAL BHD [], JAKS Resources Bhd and MITRAJAYA HOLDINGS BHD [].
The Edge FinancialDaily reports on Thursday that Tanjong Plc has attracted another bid for its gaming business, this time from Datuk Lim Kang Hoo of CONSTRUCTION [] outfit Ekovest Bhd.
Telekom Malaysia will carry out a thorough internal investigation to safeguard the integrity of its procurement process and code of business ethics in the wake of allegations that its employees had received improper payments from Alcatel-Lucent S.A.
The company said it had a zero tolerance policy towards improprieties and would take appropriate action against any of its employees, if they had received such payments.
The US Securities and Exchange Commission had charged the Paris-based Alcatel-Lucent with violating the Foreign Corrupt Practices Act (FCPA) by paying bribes to foreign government officials to illicitly win business in Latin America and Asia.
Sealink has secured contracts for the sale of three offshore support vessels for RM70 million. It said the vessels were expected to be delivered within the first quarter of 2011.
Two of the vessels were sold for RM68 million to established overseas buyers whilst a 14 year old vessel was sold as part of the company's fleet modernisation plan.
JAKS posted net profit RM1.19 million in the fourth quarter ended Oct 31, 2010 compared to net loss RM3.13 million a year ago due to recovery in selling prices of various steel related products and better margins as compared with previous year.
Its revenue rose 38% to RM85.74 million from RM62.3 million last year, on the back of higher revenue contributed from the steel related products and recognition of works done for the projects in the construction division.
Lion Industries has accepted RM26.19 million as full settlement from Likom Computer System Sdn Bhd for rental owing. It had agreed to waive the interest of RM11.05 million as Likom had ceased operations in 2004.
Mitrajaya has secured a RM53.5 million hangar construction contract at Subang Airport.
Its unit Pembinaan Mitrajaya Sdn Bhd had accepted the contract to build five hangars, a two-storey multipurpose building, two electrical substations and one guardhouse at the Sultan Abdul Aziz Shah Airport.
It said the contract was for 10 months from Jan 1, 2011 and was expected to contribute positively to its future earnings.
Reuters reported that the S&P 500 headed for its best December in nearly two decades as U.S. stocks advanced in thin trade on Wednesday, lifted by investor optimism about the economy in 2011.
The Dow Jones industrial average was up 10.52 points, or 0.09 percent, at 11,586.06. The Standard & Poor's 500 Index was up 1.34 points, or 0.11 percent, at 1,259.85. The Nasdaq Composite Index was up 4.05 points, or 0.15 percent, at 2,666.93.
At Bursa Malaysia, the FBM KLCI closed at a seven week high of 1,524.34 on Wednesday, Dec 29, which was just four points below its all-time closing high of 1,528.01 on Nov 10, reflecting the optimism in most key regional markets.
The 30-stock benchmark index advanced 0.45% or 6.90 points to close at 1,524.34, lifted by gains in key blue chips including Genting, DiGi as well index-linked PLANTATION [] stocks.
Stocks to watch on Thursday are EKOVEST BHD [], TELEKOM MALAYSIA BHD [], SEALINK INTERNATIONAL BHD [], JAKS Resources Bhd and MITRAJAYA HOLDINGS BHD [].
The Edge FinancialDaily reports on Thursday that Tanjong Plc has attracted another bid for its gaming business, this time from Datuk Lim Kang Hoo of CONSTRUCTION [] outfit Ekovest Bhd.
Telekom Malaysia will carry out a thorough internal investigation to safeguard the integrity of its procurement process and code of business ethics in the wake of allegations that its employees had received improper payments from Alcatel-Lucent S.A.
The company said it had a zero tolerance policy towards improprieties and would take appropriate action against any of its employees, if they had received such payments.
The US Securities and Exchange Commission had charged the Paris-based Alcatel-Lucent with violating the Foreign Corrupt Practices Act (FCPA) by paying bribes to foreign government officials to illicitly win business in Latin America and Asia.
Sealink has secured contracts for the sale of three offshore support vessels for RM70 million. It said the vessels were expected to be delivered within the first quarter of 2011.
Two of the vessels were sold for RM68 million to established overseas buyers whilst a 14 year old vessel was sold as part of the company's fleet modernisation plan.
JAKS posted net profit RM1.19 million in the fourth quarter ended Oct 31, 2010 compared to net loss RM3.13 million a year ago due to recovery in selling prices of various steel related products and better margins as compared with previous year.
Its revenue rose 38% to RM85.74 million from RM62.3 million last year, on the back of higher revenue contributed from the steel related products and recognition of works done for the projects in the construction division.
Lion Industries has accepted RM26.19 million as full settlement from Likom Computer System Sdn Bhd for rental owing. It had agreed to waive the interest of RM11.05 million as Likom had ceased operations in 2004.
Mitrajaya has secured a RM53.5 million hangar construction contract at Subang Airport.
Its unit Pembinaan Mitrajaya Sdn Bhd had accepted the contract to build five hangars, a two-storey multipurpose building, two electrical substations and one guardhouse at the Sultan Abdul Aziz Shah Airport.
It said the contract was for 10 months from Jan 1, 2011 and was expected to contribute positively to its future earnings.
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