KUALA LUMPUR: Stocks may advance on Thursday, March 24 following the firmer outlook for the Malaysian economy despite external factors and higher inflationary pressure.
Banks could be in focus as Bank Negara Malaysia prepares new guidelines for loans in the third quarter of 2011. Applicants for loans would have to face a stress test to determine their eligibility.
In New York, U.S. stocks advanced on Wednesday as materials shares rose, but rising commodities prices due to turmoil in the Middle East and North Africa could keep rallies modest.
The Dow Jones industrial average gained 67.39 points, or 0.56 percent, to 12,086.02. The Standard & Poor's 500 Index rose 3.77 points, or 0.29 percent, to 1,297.54. The Nasdaq Composite Index climbed 14.43 points, or 0.54 percent, to 2,698.30.
Stocks to watch are RHB CAPITAL BHD [], TENAGA NASIONAL BHD [] (TNB), INTEGRAX BHD [], HAI-O ENTERPRISE BHD [] and INGRESS CORPORATION BHD [].
The Edge FinancialDaily reports RHB Capital's single largest foreign shareholder Abu Dhabi Commercial Bank (ADCB) had called for a beauty parade among investment banks last week to pitch for an advisory role on the sale of its 25% stake in the local banking group.
Integrax Bhd co-chief executive Harun Halim Rasip has disposed of his entire equity interest in the port management company to TNB for RM106.46 million.
TNB said the purchase price represented a premium of 13.5% to the five-day weighted average market price of Integrax shares up to and including March 18, of RM1.41.
'TNB intends to fund the purchase consideration entirely through internally generated funds,' it said.
Hai-O's earnings fell 65% to RM6.34 million for the third quarter ended Jan 31, 2011 from RM18 million a year ago as revenue shrank following lower sales from its multi-level marketing (MLM) division.
Revenue fell to RM57.60 million from RM131.28 million a year ago due mainly due the poorer performance of the MLM division, which is its principal subsidiary.
Axiata Group Bhd has imposed a 12-month suspension on
Alcatel-Lucent group (ALU) including its Malaysian operations which would bar it from any new bids for contracts, but it would continue all existing contracts.
Axiata said on the suspension would include suspension of the ALU group from any invitations to submit any new tenders, entry into new contracts or continuing with any negotiations that are currently being undertaken with any group member.
Banks could be in focus as Bank Negara Malaysia prepares new guidelines for loans in the third quarter of 2011. Applicants for loans would have to face a stress test to determine their eligibility.
In New York, U.S. stocks advanced on Wednesday as materials shares rose, but rising commodities prices due to turmoil in the Middle East and North Africa could keep rallies modest.
The Dow Jones industrial average gained 67.39 points, or 0.56 percent, to 12,086.02. The Standard & Poor's 500 Index rose 3.77 points, or 0.29 percent, to 1,297.54. The Nasdaq Composite Index climbed 14.43 points, or 0.54 percent, to 2,698.30.
Stocks to watch are RHB CAPITAL BHD [], TENAGA NASIONAL BHD [] (TNB), INTEGRAX BHD [], HAI-O ENTERPRISE BHD [] and INGRESS CORPORATION BHD [].
The Edge FinancialDaily reports RHB Capital's single largest foreign shareholder Abu Dhabi Commercial Bank (ADCB) had called for a beauty parade among investment banks last week to pitch for an advisory role on the sale of its 25% stake in the local banking group.
Integrax Bhd co-chief executive Harun Halim Rasip has disposed of his entire equity interest in the port management company to TNB for RM106.46 million.
TNB said the purchase price represented a premium of 13.5% to the five-day weighted average market price of Integrax shares up to and including March 18, of RM1.41.
'TNB intends to fund the purchase consideration entirely through internally generated funds,' it said.
Hai-O's earnings fell 65% to RM6.34 million for the third quarter ended Jan 31, 2011 from RM18 million a year ago as revenue shrank following lower sales from its multi-level marketing (MLM) division.
Revenue fell to RM57.60 million from RM131.28 million a year ago due mainly due the poorer performance of the MLM division, which is its principal subsidiary.
Axiata Group Bhd has imposed a 12-month suspension on
Alcatel-Lucent group (ALU) including its Malaysian operations which would bar it from any new bids for contracts, but it would continue all existing contracts.
Axiata said on the suspension would include suspension of the ALU group from any invitations to submit any new tenders, entry into new contracts or continuing with any negotiations that are currently being undertaken with any group member.
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