KUALA LUMPUR: Shares of CypARK RESOURCES BHD [] rose 10.9% in late afternoon trade on Tuesday, March 1 as investors ride on its solid waste management prospects.
At 3.19pm, Cypark was up 24 sen to RM2.44 with 1.15 million shares done.
The FBM KLCI managed to cross the crucial 1,500 level. It was up 9.06 points to 1,500.31. Turnover was 683.13 million shares done valued at RM871.71 million. The broader market showed signs of rising profit taking, with 368 losers to 325 gainers and 289 stocks unchanged.
Cypark, had in its fourth quarter ended Oct 30, 2010 reported net profit of RM5.38 million while for the financial year, its earnings were RM20.42 million.
The company had said in December, 2010 that it expected its revenue to increase as the government emphasised on solid waste management under the National Strategic Plan for Waste Management and related regulations/ initiatives.
Cypark added that by 2020, daily solid waste output was expected to increase to 30,000 tonnes from the current level of about 20,550 tonnes.
It had also said the solid waste management market was expected to grow robustly moving forward. The solid waste management market was valued at RM3.82 billion in 2009, and is expected to grow at a CAGR of 5.3% from 2009 to 2014.
At 3.19pm, Cypark was up 24 sen to RM2.44 with 1.15 million shares done.
The FBM KLCI managed to cross the crucial 1,500 level. It was up 9.06 points to 1,500.31. Turnover was 683.13 million shares done valued at RM871.71 million. The broader market showed signs of rising profit taking, with 368 losers to 325 gainers and 289 stocks unchanged.
Cypark, had in its fourth quarter ended Oct 30, 2010 reported net profit of RM5.38 million while for the financial year, its earnings were RM20.42 million.
The company had said in December, 2010 that it expected its revenue to increase as the government emphasised on solid waste management under the National Strategic Plan for Waste Management and related regulations/ initiatives.
Cypark added that by 2020, daily solid waste output was expected to increase to 30,000 tonnes from the current level of about 20,550 tonnes.
It had also said the solid waste management market was expected to grow robustly moving forward. The solid waste management market was valued at RM3.82 billion in 2009, and is expected to grow at a CAGR of 5.3% from 2009 to 2014.
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