KUALA LUMPUR: Key regional markets are expected to tread cautiously, especially Southeast Asian markets on Tuesday, Jan 11 after the heavy selling on Monday.
On Wall Street, US stocks recovered from early losses on light volumes to end largely'' flat with the Dow Jones industrial average closing down 0.3 percent but the broader Standard & Poor's 500 Index just 0.1 percent lower and the'' tech-laden Nasdaq Index gaining nearly 0.2 percent.
Reuters reported the market's upward trend is still seen intact although the S&P's third negative close in a row suggests momentum has stalled. But analysts are also looking to the earnings season to rekindle the rally. The concerns affecting market sentiment are that Portugal will be the next euro zone member needing a bailout.
At Bursa, the FBM KLCI snapped its five straight days of gains to end in the red, in line with the cautious Southeast Asian markets.
Stocks which will be in focus are Asia Media Group Bhd, PLUS EXPRESSWAYS BHD [], TRANSMILE GROUP BHD [] and APP INDUSTRIES BHD [], Ramunia Bhd, Ancom Logistic Bhd and SAAG CONSOLIDATED (M) BHD [].
SapuraCrest may be in focus also on expectations that it will secure an O&G contract for''marginal oil fields that will be announced under the Economic Transformation Programme on Tuesday.
Asia Media will be listed at an offer price of 23 sen per share. Its offer of 8.0 million shares to the public was oversubscribed by 21.46 times. Asia Media Group is a digital out-of-home Transit TV company.
PLUS said only UEM Group Bhd and the Employees Provident Fund had remitted the cash deposit of RM50 million in their joint offer to take over for RM23 billion offer or RM4.60 per share.
MMC Corp Bhd, meanwhile, said it has not received any indication from government on its proposal to acquire PLUS Expressways.
In The Edge FinancialDaily on Tuesday: Transmile is selling four of its aircraft to Federal Express Corporation for US$68 million (RM208.8 million) which would enable it to reduce its debts by 39% to about RM320.1 million.
The company said it had has signed a sale and purchase agreement with FedEx to sell four MD-11F aircraft for US$17 million (RM52.2 million) each to be satisfied entirely in cash.
Also in'' The Edge FinancialDaily: APP Industries, whose share price has rocketed to four-year high of 62 sen, sees the emergence of new major shareholder, PFC Engineering Sdn Bhd (PFCE), after the latter acquired a 35.81% equity stake from two existing shareholders at 45 sen per share.
SAAG's subsidiary has secured a US$78 million (RM239.54 million) contract from Mrails Tram (Melaka) Sdn Bhd to design and build 40 km of tramway in Melaka.
Ramunia has confirmed it is is in preliminary discussions with the vendors of Syarikat Borcos Shipping Sdn Bhd to acquire an equity stake in Borcos. However, to date, no definitive and conclusive terms have been agreed upon with the vendors of Borcos.
Ancom Logistic Bhd will resume trading from 9am'' following the completion of its regularisation plan. The company's additional 209.50 million new shares issued following the acquisition of the entire stake in Synergy Translinik Sdn Bhd would be listed on Tuesday.
On Wall Street, US stocks recovered from early losses on light volumes to end largely'' flat with the Dow Jones industrial average closing down 0.3 percent but the broader Standard & Poor's 500 Index just 0.1 percent lower and the'' tech-laden Nasdaq Index gaining nearly 0.2 percent.
Reuters reported the market's upward trend is still seen intact although the S&P's third negative close in a row suggests momentum has stalled. But analysts are also looking to the earnings season to rekindle the rally. The concerns affecting market sentiment are that Portugal will be the next euro zone member needing a bailout.
At Bursa, the FBM KLCI snapped its five straight days of gains to end in the red, in line with the cautious Southeast Asian markets.
Stocks which will be in focus are Asia Media Group Bhd, PLUS EXPRESSWAYS BHD [], TRANSMILE GROUP BHD [] and APP INDUSTRIES BHD [], Ramunia Bhd, Ancom Logistic Bhd and SAAG CONSOLIDATED (M) BHD [].
SapuraCrest may be in focus also on expectations that it will secure an O&G contract for''marginal oil fields that will be announced under the Economic Transformation Programme on Tuesday.
Asia Media will be listed at an offer price of 23 sen per share. Its offer of 8.0 million shares to the public was oversubscribed by 21.46 times. Asia Media Group is a digital out-of-home Transit TV company.
PLUS said only UEM Group Bhd and the Employees Provident Fund had remitted the cash deposit of RM50 million in their joint offer to take over for RM23 billion offer or RM4.60 per share.
MMC Corp Bhd, meanwhile, said it has not received any indication from government on its proposal to acquire PLUS Expressways.
In The Edge FinancialDaily on Tuesday: Transmile is selling four of its aircraft to Federal Express Corporation for US$68 million (RM208.8 million) which would enable it to reduce its debts by 39% to about RM320.1 million.
The company said it had has signed a sale and purchase agreement with FedEx to sell four MD-11F aircraft for US$17 million (RM52.2 million) each to be satisfied entirely in cash.
Also in'' The Edge FinancialDaily: APP Industries, whose share price has rocketed to four-year high of 62 sen, sees the emergence of new major shareholder, PFC Engineering Sdn Bhd (PFCE), after the latter acquired a 35.81% equity stake from two existing shareholders at 45 sen per share.
SAAG's subsidiary has secured a US$78 million (RM239.54 million) contract from Mrails Tram (Melaka) Sdn Bhd to design and build 40 km of tramway in Melaka.
Ramunia has confirmed it is is in preliminary discussions with the vendors of Syarikat Borcos Shipping Sdn Bhd to acquire an equity stake in Borcos. However, to date, no definitive and conclusive terms have been agreed upon with the vendors of Borcos.
Ancom Logistic Bhd will resume trading from 9am'' following the completion of its regularisation plan. The company's additional 209.50 million new shares issued following the acquisition of the entire stake in Synergy Translinik Sdn Bhd would be listed on Tuesday.
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