KUALA LUMPUR: Stocks may extend their gains on Tuesday, March 22 following the firmer overnight close on Wall Street where the Dow Jones Industrial Average and broader S&P 500 rose 1.5% each.
Buyers emerged on Monday, March 21 in U.S. stocks, Reuters reported as they were enticed by the biggest proposed merger of the year, though crises in Japan, the Middle East and North Africa meant market volatility would continue
The $39 billion AT&T deal would create the largest wireless phone operator in the United States.
The Dow Jones industrial average gained 178.01 points, or 1.50 percent, to 12,036.53. The Standard & Poor's 500 Index climbed 19.18 points, or 1.50 percent, to 1,298.38. The Nasdaq Composite Index added 48.42 points, or 1.83 percent, to 2,692.09.
At Bursa Malaysia, stocks to watch include SIME DARBY BHD [], AMMB HOLDINGS BHD [], HARBOUR-LINK GROUP BHD [], Berjaya Food Bhd, DPS RESOURCES BHD [] and PERISAI PETROLEUM TEKNOLOGI [] Bhd.
The Edge FinancialDaily reports Sime Darby Bhd's board has been caught up in a slew of lawsuits of late. However, Sime Darby does not expect the two lawsuits, filed by Emirates International Energy Services and Sime Darby's group former CEO Datuk Seri Ahmad Zubir against the former and current directors, to have any significant impact on the group.
Sime does not expect any substantial loss from the suit filed by Emirates International Energy Services over a dispute in Abu Dhabi, where the latter is seeking US$178.2 million in compensation. Sime said the group had been advised that the claims set out in the suit against Sime Darby Engineering Sdn Bhd had no merits.
Australia and New Zealand Banking Group Ltd (ANZ) may raise its equity interest to controlling stake in four of the Asian banks it has stakes in, including Malaysia's AMMB Holdings Bhd.
However, AMMB chairman and major shareholder Tan Sri Azman Hashim said in Tuesday's newspaper report he has no plans to sell his stake. He owns 16.7% while ANZ owns 23.8%.
Harbour-Link's unit Eastern Soldar Engineering & CONSTRUCTION [] Sdn Bhd has accepted a letter of intent from Chiyoda Sarawak Sdn Bhd for a RM29 million general civil work contract for the Tokuyama Malaysia Project.
The contract comprised the general civil works Package SP 4C ' general utility area at the Samalaju Industrial Park in Bintulu, Sarawak.
In Berjaya Food BhdLembaga Tabung Angkatan Tentera has ceased to be a substantial shareholder after it disposed of 7.97 million shares on March 14. LTAT was allotted 10 million shares or 7.07% when BFood was listed on Feb 14 as the Bumiputra allocation by MITI, according to the company filing.
ATLAN HOLDINGS BHD [] expects to gain RM16 million after the sale of two pieces of land along Jalan Batu Ferringhi, Penang for RM33 million cash to Glass Bay Sdn Bhd. It said the RM16.47 million was arrived at after deducting estimated income tax of RM5.49 million, land cost of RM9.19 million, development cost of RM1.84 million.
In Perisai, Singapore's Mercury Pacific Marine Pte Ltd sold one million shares on March 18 and reduced its stake to 158.26 million shares or 23.18%.
Public Investment Bank Berhad ceased to be substantial shareholder of DPS Resources Bhd after it disposed of 13.17 million shares on March 13.
Buyers emerged on Monday, March 21 in U.S. stocks, Reuters reported as they were enticed by the biggest proposed merger of the year, though crises in Japan, the Middle East and North Africa meant market volatility would continue
The $39 billion AT&T deal would create the largest wireless phone operator in the United States.
The Dow Jones industrial average gained 178.01 points, or 1.50 percent, to 12,036.53. The Standard & Poor's 500 Index climbed 19.18 points, or 1.50 percent, to 1,298.38. The Nasdaq Composite Index added 48.42 points, or 1.83 percent, to 2,692.09.
At Bursa Malaysia, stocks to watch include SIME DARBY BHD [], AMMB HOLDINGS BHD [], HARBOUR-LINK GROUP BHD [], Berjaya Food Bhd, DPS RESOURCES BHD [] and PERISAI PETROLEUM TEKNOLOGI [] Bhd.
The Edge FinancialDaily reports Sime Darby Bhd's board has been caught up in a slew of lawsuits of late. However, Sime Darby does not expect the two lawsuits, filed by Emirates International Energy Services and Sime Darby's group former CEO Datuk Seri Ahmad Zubir against the former and current directors, to have any significant impact on the group.
Sime does not expect any substantial loss from the suit filed by Emirates International Energy Services over a dispute in Abu Dhabi, where the latter is seeking US$178.2 million in compensation. Sime said the group had been advised that the claims set out in the suit against Sime Darby Engineering Sdn Bhd had no merits.
Australia and New Zealand Banking Group Ltd (ANZ) may raise its equity interest to controlling stake in four of the Asian banks it has stakes in, including Malaysia's AMMB Holdings Bhd.
However, AMMB chairman and major shareholder Tan Sri Azman Hashim said in Tuesday's newspaper report he has no plans to sell his stake. He owns 16.7% while ANZ owns 23.8%.
Harbour-Link's unit Eastern Soldar Engineering & CONSTRUCTION [] Sdn Bhd has accepted a letter of intent from Chiyoda Sarawak Sdn Bhd for a RM29 million general civil work contract for the Tokuyama Malaysia Project.
The contract comprised the general civil works Package SP 4C ' general utility area at the Samalaju Industrial Park in Bintulu, Sarawak.
In Berjaya Food BhdLembaga Tabung Angkatan Tentera has ceased to be a substantial shareholder after it disposed of 7.97 million shares on March 14. LTAT was allotted 10 million shares or 7.07% when BFood was listed on Feb 14 as the Bumiputra allocation by MITI, according to the company filing.
ATLAN HOLDINGS BHD [] expects to gain RM16 million after the sale of two pieces of land along Jalan Batu Ferringhi, Penang for RM33 million cash to Glass Bay Sdn Bhd. It said the RM16.47 million was arrived at after deducting estimated income tax of RM5.49 million, land cost of RM9.19 million, development cost of RM1.84 million.
In Perisai, Singapore's Mercury Pacific Marine Pte Ltd sold one million shares on March 18 and reduced its stake to 158.26 million shares or 23.18%.
Public Investment Bank Berhad ceased to be substantial shareholder of DPS Resources Bhd after it disposed of 13.17 million shares on March 13.
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