KUALA LUMPUR: Stocks on Bursa Malaysia may see some downside pressure on Friday, Jan 21 after China key stocks index fell 2.9% on Thursday on concerns of more monetary tightening.
At Bursa, the FBM KLCI fell on Wednesday, weighed down by losses in CIMB but the losses were relatively limited across the broader market, despite the firmer regional markets.
Companies with fresh corporate news including TENAGA NASIONAL BHD [], Fraser & Neave Holdings Bhd, Malaysia Steel Works (KL) Bhd (Masteel) and KUB MALAYSIA BHD [] (KUB) and PUNCAK NIAGA HOLDINGS BHD [] could see trading interest.
TNB's board of directors expects the group's prospects to be very challenging for the current financial year due to the rising coal prices in the absence of a tariff review.
It reported earnings of RM712.9 million in the first quarter ended Nov 30, 2010, just a marginal 1% increase from the RM706.3 million a year ago as it was impacted by higher coal prices. The power giant said on Wednesday, Jan 19 there was an increase in forex translation loss of RM104.8 million as compared to RM45.4 million a year ago due to the strengthening of the yen and US dollar against the ringgit.
Puncak Niaga could see some selling pressure after the company and its joint venture partner have failed in their tenders for the two water supply and drainage projects in India. Puncak said that its partner P&C CONSTRUCTION []s (P) Ltd had dissolved the joint venture agreements following the unsuccessful bids.
Fraser & Neave will allocate up to RM500 million as it seeks to take on a more regional and full fledged group from its current form as a tightly controlled food and beverage firm into a more regional and full fledged group.
It has also received the approval to market its isotonic drink 100PLUS and carbonated soft drinks in Thailand and Brunei, a move which will enhance its beverages business in Thailand especially.
Masteel and KUB have proposed to build and operate a 100km inter-city rail transit system in Iskandar Malaysia, which will connect to the MRT line from Singapore. The companies said the project could cost over RM1 billion, and consists of up to 25 commuter stations in major towns in the Iskandar Malaysia region in the initial stage.
Other stocks in the news would be OSK HOLDINGS BHD [] after its investment bank, which is seeking opportunities to expand into Thailand, has received the go-ahead from the potential securities company for a due diligence to be carried out.
In UMW HOLDINGS BHD [], the automotive and oil and gas player is allocating about RM800 million for expansion, of which RM500 million would to be expand its local operations including the automotive business.
At Bursa, the FBM KLCI fell on Wednesday, weighed down by losses in CIMB but the losses were relatively limited across the broader market, despite the firmer regional markets.
Companies with fresh corporate news including TENAGA NASIONAL BHD [], Fraser & Neave Holdings Bhd, Malaysia Steel Works (KL) Bhd (Masteel) and KUB MALAYSIA BHD [] (KUB) and PUNCAK NIAGA HOLDINGS BHD [] could see trading interest.
TNB's board of directors expects the group's prospects to be very challenging for the current financial year due to the rising coal prices in the absence of a tariff review.
It reported earnings of RM712.9 million in the first quarter ended Nov 30, 2010, just a marginal 1% increase from the RM706.3 million a year ago as it was impacted by higher coal prices. The power giant said on Wednesday, Jan 19 there was an increase in forex translation loss of RM104.8 million as compared to RM45.4 million a year ago due to the strengthening of the yen and US dollar against the ringgit.
Puncak Niaga could see some selling pressure after the company and its joint venture partner have failed in their tenders for the two water supply and drainage projects in India. Puncak said that its partner P&C CONSTRUCTION []s (P) Ltd had dissolved the joint venture agreements following the unsuccessful bids.
Fraser & Neave will allocate up to RM500 million as it seeks to take on a more regional and full fledged group from its current form as a tightly controlled food and beverage firm into a more regional and full fledged group.
It has also received the approval to market its isotonic drink 100PLUS and carbonated soft drinks in Thailand and Brunei, a move which will enhance its beverages business in Thailand especially.
Masteel and KUB have proposed to build and operate a 100km inter-city rail transit system in Iskandar Malaysia, which will connect to the MRT line from Singapore. The companies said the project could cost over RM1 billion, and consists of up to 25 commuter stations in major towns in the Iskandar Malaysia region in the initial stage.
Other stocks in the news would be OSK HOLDINGS BHD [] after its investment bank, which is seeking opportunities to expand into Thailand, has received the go-ahead from the potential securities company for a due diligence to be carried out.
In UMW HOLDINGS BHD [], the automotive and oil and gas player is allocating about RM800 million for expansion, of which RM500 million would to be expand its local operations including the automotive business.
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