KUALA LUMPUR:Stocks on Bursa Malaysia could extend their gains on Friday, March 25 but the gains could be restrained by concerns over the Middle-east turmoil and record high oil prices which would ultimately dampen global economic growth.
In the US, stocks advanced on Thursday as optimism about upcoming earnings and investor buying of the quarter's top performers lifted the S&P 500 above a key technical level.
The Dow Jones industrial average gained 84.54 points, or 0.70 percent, to end at 12,170.56. The Standard & Poor's 500 Index climbed 12.12 points, or 0.93 percent, to 1,309.66. The Nasdaq Composite Index rose 38.12 points, or 1.41 percent, to 2,736.42, Reuters reported.
The S&P 500 broke above its 50-day moving average at 1,305, leading investors to believe the market may have absorbed the worst of its recent pullback caused by Japan's earthquake and tumult in the Arab world, positioning stocks for another move higher.
At Bursa Malaysia, stocks with fresh corporate developments that could see trading interest include SEG INTERNATIONAL BHD [] (SEGi), GAMUDA BHD [], RAMUNIA HOLDINGS BHD [] and Digistar Corp Bhd.
SEGi said it has set a dividend policy to distribute a minimum of 50% of the group net profits to its shareholders, with effect from the financial year ending Dec 31, 2011.
SEGi said the board''believes that the dividend payout of a minimum of 50% of its net profits is within the group's financial capability considering its future earnings growth.
Gamuda's'' net profit for the second quarter ended Jan 31, 2011 rose 19.6% to RM94.03 million from RM78.63 million a year earlier, mainly due to higher contributions from all its divisions. Revenue rose marginally to RM607.19 million from RM603.24 million. Earnings per share were 4.59 sen, while net asset per share was RM1.74.
For the six months ended Jan 31, Gamuda's net profit rose to RM182.56 million from RM152.66 million in 2010.
Meanwhile, Ramunia's net profit for the first quarter ended Jan 31, 2011 fell to RM1.1 million from RM3.42 million a year earlier due mainly to the tail end of the remaining projects billings and lower operating income. Revenue slumped to RM1.36 million from RM15.85 million in 2010. Earnings per share were 0.17 sen while net assets per share was 25.1 sen.
Reviewing its results and commenting on its prospects, Ramunia said it was finalising its PN 17 regularisation plan.
As for Digistar, it said with the secured order book of RM102 million, it is in the midst of tendering and bidding of additional of RM130 million worth of contract and project of broadcasting jobs in Malaysia.
'The company is in the view that, once secure with additional contracts, barring any unforeseen circumstances, the expectation in rise of additional revenue in FY2011 shall increase around 30% to 40%, if compared to recorded revenue of RM73 million in FY10,' it said in reply to a query from Bursa Securities.
In the US, stocks advanced on Thursday as optimism about upcoming earnings and investor buying of the quarter's top performers lifted the S&P 500 above a key technical level.
The Dow Jones industrial average gained 84.54 points, or 0.70 percent, to end at 12,170.56. The Standard & Poor's 500 Index climbed 12.12 points, or 0.93 percent, to 1,309.66. The Nasdaq Composite Index rose 38.12 points, or 1.41 percent, to 2,736.42, Reuters reported.
The S&P 500 broke above its 50-day moving average at 1,305, leading investors to believe the market may have absorbed the worst of its recent pullback caused by Japan's earthquake and tumult in the Arab world, positioning stocks for another move higher.
At Bursa Malaysia, stocks with fresh corporate developments that could see trading interest include SEG INTERNATIONAL BHD [] (SEGi), GAMUDA BHD [], RAMUNIA HOLDINGS BHD [] and Digistar Corp Bhd.
SEGi said it has set a dividend policy to distribute a minimum of 50% of the group net profits to its shareholders, with effect from the financial year ending Dec 31, 2011.
SEGi said the board''believes that the dividend payout of a minimum of 50% of its net profits is within the group's financial capability considering its future earnings growth.
Gamuda's'' net profit for the second quarter ended Jan 31, 2011 rose 19.6% to RM94.03 million from RM78.63 million a year earlier, mainly due to higher contributions from all its divisions. Revenue rose marginally to RM607.19 million from RM603.24 million. Earnings per share were 4.59 sen, while net asset per share was RM1.74.
For the six months ended Jan 31, Gamuda's net profit rose to RM182.56 million from RM152.66 million in 2010.
Meanwhile, Ramunia's net profit for the first quarter ended Jan 31, 2011 fell to RM1.1 million from RM3.42 million a year earlier due mainly to the tail end of the remaining projects billings and lower operating income. Revenue slumped to RM1.36 million from RM15.85 million in 2010. Earnings per share were 0.17 sen while net assets per share was 25.1 sen.
Reviewing its results and commenting on its prospects, Ramunia said it was finalising its PN 17 regularisation plan.
As for Digistar, it said with the secured order book of RM102 million, it is in the midst of tendering and bidding of additional of RM130 million worth of contract and project of broadcasting jobs in Malaysia.
'The company is in the view that, once secure with additional contracts, barring any unforeseen circumstances, the expectation in rise of additional revenue in FY2011 shall increase around 30% to 40%, if compared to recorded revenue of RM73 million in FY10,' it said in reply to a query from Bursa Securities.
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