Tuesday, November 1, 2011

#Stocks to watch:* SapuraCrest, Shell Refining, Unisem, DiGi

KUALA LUMPUR (Nov 1): Global markets fell on Tuesday after Greece's Prime Minister George Papandreou decided to let Greeks vote on a bailout package -- a move that stunned markets and threw Greece's euro zone membership into question.

At Bursa Malaysia, blue chips fell following concerns about the impact of Greece decision, sending the FBM KLCI down 16.25 points to 1,475.64 and erasing hopes of an extended rally in November.

The major decliners were BAT, GENTING BHD [], Petronas Dagangan, MISC, RHB Capital, Lafarge Cement, Bursa and AirAsia.

For Wednesday, sentiment could continue to be cautious after Tuesday's mixed corporate announcements.

However, an assurance from the Performance Management and Delivery Unit (Pemandu) chief executive officer Datuk Seri Idris Jala could help provide some support.

Idris said on Tuesday that investments realised under the Economic Transformation Programme for the first half of 2011 amounted to RM10 billion, which accounted for 64% of the RM15 billion investments committed for 2011.

Among the stocks to watch are SAPURACREST PETROLEUM BHD [], Shell Refining Company (Federation of Malaya) Bhd, UNISEM (M) BHD [], DIGI.COM BHD [], SUPERMAX CORPORATION BHD [] and PUNCAK NIAGA HOLDINGS BHD [].

SapuraCrest Petroleum announced its unit TL Offshore Sdn Bhd has secured a US$1.5 billion contract from Petr''leo Brasileiro S.A. (Petrobras).

TLO was awarded a contract to charter and operate three pipe laying support vessels for US$1.4 billion. SapuraCrest said one of the vessels would be built in Brazil and the two others outside Brazil.

Shell Refining reported net losses of RM134.08 million in the third quarter ended Sept 30, 2011 compared with net loss of RM19.46 million a year ago. The main factors were weak refining margins and lower production due to the statutory major turnaround completed in July.

Its cost of sales was RM3.265 billion compared with RM2.675 billion a year ago. Revenue was however higher by 16% to RM3.069 billion against RM2.646 billion a year ago. Loss per share was 44.69 sen compared with 6.49 sen.

Unisem (M) Bhd's earnings fell 89.7% to RM5.27 million in the third quarter ended Sept 30, 2011 from RM51.53 million a year ago and cautioned demand for the group's products and services to remain weak for the next quarter due to global economic uncertainty. Its revenue dropped 22.2% to RM288.19 million from RM370.69 million.

DiGi.com is on track to distribute about RM509 million to its shareholders by the first half of 2012 under the proposed capital distribution.

Supermax proposed a corporate exercise involving a one-for-one bonus issue and also to buy back up to 10% of its paid-up share capital.

Puncak Niaga is selling all its Puncak Niaga (M) Sdn Bhd (PNSB) debt notes to Pengurusan Aset Air Bhd (PAAB) for RM328.12 million.

No comments:

Post a Comment