KUALA LUMPUR: Blue chips are expected to advance on Friday, Dec 10 as investors' sentiment is galvanized by the extended gains on Wall Street while at Bursa Malaysia, the FBM KLCI moved closer towards its all-time high of 1,531.
However, the run-up could also see some profit taking ahead of the weekend. External concerns include the downgrade to Ireland which kept the euro zone debt problems fresh in the minds of investors.
US stocks edged up on Thursday with the benchmark S&P 500 closing at a two-year high, a trend investors expect to continue through the rest of the year.
The Dow Jones industrial average dipped 2.42 points, or 0.02 percent, to 11,370.06. The Standard & Poor's 500 Index gained 4.72 points, or 0.38 percent, to 1,233.00. The Nasdaq Composite Index rose 7.51 points, or 0.29 percent, to 2,616.67.
Stocks to watch include SP SETIA BHD [], GAMUDA BHD [], SUNRISE BHD [] and TENAGA NASIONAL BHD []. Also in focus would be DRB-HICOM BHD [] and Bolton'' Bhd.
SP Setia Bhd's CEO Tan Sri Liew Kee Sin said the company will not be content with remaining at No 3 in terms of market capitalisation of listed Malaysian property companies, following the recent spate of mega mergers in the sector.
SP Setia's earnings rose 47% to RM251.81 million in the financial year ended Oct 31, 2010 from RM171.23 million in FY09, underpinned by from its property development activities carried out in the Klang Valley, Johor Bahru and Penang.
Revenue rose 24% to RM1.745 billion from RM1.408 billion a year ago while earnings per share were 24.77 sen versus 16.84 sen.
CONSTRUCTION [] and infrastructure giant Gamuda Bhd is eyeing Qatar's mass rail transit (MRT) project next year, ahead of the 2022 FIFA World Cup, said group managing director Datuk Lin Yun Ling.
Gamuda is also targeting RM5 billion in property sales over the next two years driven by two projects namely Gamuda City and Celadon City, both in Vietnam.
"We are expecting RM2 billion in sales from local projects and RM3 billion from the two projects in Vietnam.'' For us, this is a giant leap and we are busy trying to make sure we achieve the RM5 billion sales," said Lin.
He said Gamuda expected RM1 billion in sales from its property division in the financial year ending July 31, 2011.'' Currently, Gamuda's unbilled sales stood at RM800 million.
Shares of Sunrise Bhd and UEM LAND HOLDINGS BHD [] (ULHB) rose in active trade yesterday following rising optimism of the merger and ahead of the Dec 22 deadline for minority shareholders to accept the offer.
The merger would create Malaysia's largest property company with a market capitalisation of nearly RM10 billion and a 12,000-acre landbank.
Tenaga Nasional is confident that it could maintain its profitability for the financial year ending Aug 31 2010 barring higher coal prices continues to climb higher and breach US$110 a tonne.
Bolton is selling its 100% stake in Lim Thiam Leong Realty Sdn Bhd, which owns Campbell Complex in Jalan Dang Wangi here for RM50 million.
Bolton said on Thursday, Dec 9 it was disposing of the realty company to Shapadu Resources Sdn Bhd. Lim Thiam Leong Realty owns 70 retail lots in the podium, all the office suites and 286 parking bays in the 20-storey Campbell Complex.
Meanwhile, DRB-Hicom Bhd said it was unaware of any plans by Tan Sri Syed Mokhtar Al Bukhary to take the auto-banking group private.
It said it was not aware of a plan by the tycoon to offer between RM2.20 and RM2.70 per share which he does not own.
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However, the run-up could also see some profit taking ahead of the weekend. External concerns include the downgrade to Ireland which kept the euro zone debt problems fresh in the minds of investors.
US stocks edged up on Thursday with the benchmark S&P 500 closing at a two-year high, a trend investors expect to continue through the rest of the year.
The Dow Jones industrial average dipped 2.42 points, or 0.02 percent, to 11,370.06. The Standard & Poor's 500 Index gained 4.72 points, or 0.38 percent, to 1,233.00. The Nasdaq Composite Index rose 7.51 points, or 0.29 percent, to 2,616.67.
Stocks to watch include SP SETIA BHD [], GAMUDA BHD [], SUNRISE BHD [] and TENAGA NASIONAL BHD []. Also in focus would be DRB-HICOM BHD [] and Bolton'' Bhd.
SP Setia Bhd's CEO Tan Sri Liew Kee Sin said the company will not be content with remaining at No 3 in terms of market capitalisation of listed Malaysian property companies, following the recent spate of mega mergers in the sector.
SP Setia's earnings rose 47% to RM251.81 million in the financial year ended Oct 31, 2010 from RM171.23 million in FY09, underpinned by from its property development activities carried out in the Klang Valley, Johor Bahru and Penang.
Revenue rose 24% to RM1.745 billion from RM1.408 billion a year ago while earnings per share were 24.77 sen versus 16.84 sen.
CONSTRUCTION [] and infrastructure giant Gamuda Bhd is eyeing Qatar's mass rail transit (MRT) project next year, ahead of the 2022 FIFA World Cup, said group managing director Datuk Lin Yun Ling.
Gamuda is also targeting RM5 billion in property sales over the next two years driven by two projects namely Gamuda City and Celadon City, both in Vietnam.
"We are expecting RM2 billion in sales from local projects and RM3 billion from the two projects in Vietnam.'' For us, this is a giant leap and we are busy trying to make sure we achieve the RM5 billion sales," said Lin.
He said Gamuda expected RM1 billion in sales from its property division in the financial year ending July 31, 2011.'' Currently, Gamuda's unbilled sales stood at RM800 million.
Shares of Sunrise Bhd and UEM LAND HOLDINGS BHD [] (ULHB) rose in active trade yesterday following rising optimism of the merger and ahead of the Dec 22 deadline for minority shareholders to accept the offer.
The merger would create Malaysia's largest property company with a market capitalisation of nearly RM10 billion and a 12,000-acre landbank.
Tenaga Nasional is confident that it could maintain its profitability for the financial year ending Aug 31 2010 barring higher coal prices continues to climb higher and breach US$110 a tonne.
Bolton is selling its 100% stake in Lim Thiam Leong Realty Sdn Bhd, which owns Campbell Complex in Jalan Dang Wangi here for RM50 million.
Bolton said on Thursday, Dec 9 it was disposing of the realty company to Shapadu Resources Sdn Bhd. Lim Thiam Leong Realty owns 70 retail lots in the podium, all the office suites and 286 parking bays in the 20-storey Campbell Complex.
Meanwhile, DRB-Hicom Bhd said it was unaware of any plans by Tan Sri Syed Mokhtar Al Bukhary to take the auto-banking group private.
It said it was not aware of a plan by the tycoon to offer between RM2.20 and RM2.70 per share which he does not own.
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