KUALA LUMPUR (Nov 4): Markets are expected to continue to stay cautious on Friday as they await a resolution to the Greece crisis.
The eurozone bailout hangs in the balance following Greece's decision to hold a referendum on the plan in December.
But the prospect that the Greek government might collapse, delaying the referendum, raised hopes that the bail out might go ahead after all, Reuters reported.
However, the uncertainty will continue to push investors to sidelines.
Among the stocks to watch on Friday are Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE), Lingui Developments Bhd, Yeo Hiap Seng (Malaysia) Bhd, ARK RESOURCES BHD [] and TOMYPAK HOLDINGS BHD [].
MMHE secured a RM1.4 billion contract to build an offshore platform deck and two inter-platform bridges. Its unit Malaysia Marine and Heavy Engineering Sdn Bhd had signed a contract with ExxonMobil Exploration and Production Malaysia Inc. which was part of the Tapis enhanced oil recovery project.
Lingui posted net loss of RM28.06 million in the first quarter ended Sept 30, 2011 versus net profit of RM39 million a year ago as it was adversely affected by losses in fair value of biological assets.
Its that revenue increased by 19.1% to RM435.01 million from RM365.05 million. Loss per share was 4.25 sen compared with earnings per share of 5.91 sen. Operating profit was RM19.46 million compared with RM9.59 million a year ago.
'The group recognised a loss from changes in fair value of biological assets of RM25.9 million as the softwood log prices soften at the end of financial quarter under review compared to immediate preceding financial quarter,' it said.
Yeo Hiap Seng's earnings rose 104% to RM8.27 million in the third quarter ended Sept 30 from RM4.05 million a year, as it benefited from better sales, less bad debts write off and gain on disposal of machinery.
Its revenue increased by 26.5% to RM147.12 million from RM116.27 million as sales for Malaysia, Indonesia and Singapore including the export market grew by 18%, 368% and 8% respectively.
Tomypak Holdings Bhd's earnings rose 12.21% to RM3.40 million for the quarter ended Sept 30, 2011 from RM3.03 million a year ago, due to higher sales. Its revenue increased 25.8% to RM54.73 million from RM43.49 million. Earnings per share were 3.14 sen compared with 2.80 sen. The group announced dividends of 1.50 sen compared to 1.40 sen a year ago.
ARK Resources Bhd will be uplifted from the Practice Note 17 with effect from Friday after it had regularised its financial condition.
Bursa Malaysia Securities Bhd has deferred the decision to suspend and delist the securities of TRICUBES BHD [].
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The eurozone bailout hangs in the balance following Greece's decision to hold a referendum on the plan in December.
But the prospect that the Greek government might collapse, delaying the referendum, raised hopes that the bail out might go ahead after all, Reuters reported.
However, the uncertainty will continue to push investors to sidelines.
Among the stocks to watch on Friday are Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE), Lingui Developments Bhd, Yeo Hiap Seng (Malaysia) Bhd, ARK RESOURCES BHD [] and TOMYPAK HOLDINGS BHD [].
MMHE secured a RM1.4 billion contract to build an offshore platform deck and two inter-platform bridges. Its unit Malaysia Marine and Heavy Engineering Sdn Bhd had signed a contract with ExxonMobil Exploration and Production Malaysia Inc. which was part of the Tapis enhanced oil recovery project.
Lingui posted net loss of RM28.06 million in the first quarter ended Sept 30, 2011 versus net profit of RM39 million a year ago as it was adversely affected by losses in fair value of biological assets.
Its that revenue increased by 19.1% to RM435.01 million from RM365.05 million. Loss per share was 4.25 sen compared with earnings per share of 5.91 sen. Operating profit was RM19.46 million compared with RM9.59 million a year ago.
'The group recognised a loss from changes in fair value of biological assets of RM25.9 million as the softwood log prices soften at the end of financial quarter under review compared to immediate preceding financial quarter,' it said.
Yeo Hiap Seng's earnings rose 104% to RM8.27 million in the third quarter ended Sept 30 from RM4.05 million a year, as it benefited from better sales, less bad debts write off and gain on disposal of machinery.
Its revenue increased by 26.5% to RM147.12 million from RM116.27 million as sales for Malaysia, Indonesia and Singapore including the export market grew by 18%, 368% and 8% respectively.
Tomypak Holdings Bhd's earnings rose 12.21% to RM3.40 million for the quarter ended Sept 30, 2011 from RM3.03 million a year ago, due to higher sales. Its revenue increased 25.8% to RM54.73 million from RM43.49 million. Earnings per share were 3.14 sen compared with 2.80 sen. The group announced dividends of 1.50 sen compared to 1.40 sen a year ago.
ARK Resources Bhd will be uplifted from the Practice Note 17 with effect from Friday after it had regularised its financial condition.
Bursa Malaysia Securities Bhd has deferred the decision to suspend and delist the securities of TRICUBES BHD [].
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