KUALA LUMPUR: Trading on Bursa Malaysia on Thursday, Oct 20 could see some downside pressure after stocks on Wall Street fell overnight on worries that Europe remains far from a solution to its debt crisis.
The Dow Jones industrial average shed 75.49 points, or 0.65 percent, at 11,501.56. The Standard & Poor's 500 Index fell 15.63 points, or 1.28 percent, at 1,209.75. The Nasdaq Composite Index was down 54.41 points, or 2.05 percent, at 2,603.02.
On Wednesday, several Asian markets slipped into the red yesterday after Hong Kong's government said it expects economic growth in the territory to be affected by weaker exports, with gross domestic product anticipated to grow at lower end of its own forecast range.
On Bursa Malaysia, among the stocks that could be in focus are KENCANA PETROLEUM BHD [], JCY International Bhd, BURSA MALAYSIA BHD [], HUA YANG BHD [], HAI-O ENTERPRISE BHD [], BONIA CORPORATION BHD [] and AT SYSTEMATIZATION BHD [].
The Edge FinancialDaily reports Kencana is in talks to acquire more than 130 acres (52ha) of land adjacent to its fabrication yard in Lumut, Perak, sources said.
It also reported Malaysia’s country's largest listed hard disk drive component maker by market capitalisation, JCY International Bhd, chalked up impressive gains on Bursa Malaysia yesterday with its share price rising 12.5 sen or 27.5% to close at 58 sen.
Bursa Malaysia’s net profit for the third quarter ended Sept 30, 2011 rose 39.37% to RM38.61 million from RM27.71 million a year earlier, driven mainly by higher revenue, but it was cautious on the outlook on concerns of further downside risk.
Revenue for the quarter increased by 23.68% to RM107.31 million from RM86.76 million in 2010. Earnings per share were 7.30 sen compared to 5.20 sen in 2010, while net assets per share was RM1.56.
For the nine months ended Sept 30, Bursa’s net profit rose to RM114.82 million from RM83.26 million in 2010, on the back of a 25% increase in revenue to RM324.47 million from RM259.14 million a year earlier.
Hua Yang’s net profit for the second quarter ended Sept 30, 2011 surged to RM13.89 million from RM4.31 million a year earlier, due mainly to steady CONSTRUCTION [] progress and better sales.
Its revenue for the quarter more than doubled to RM76.13 million from RM35.63 million in 2010.
Reviewing its performance, Hua Yang said the sales achieved during the quarter under revised was 119% higher year-on-year with total unbilled sales of RM395.24 million, giving it improved earnings visibility in the remaining period of FY2012.
Meanwhile, Hai-O Enterprise is expecting to see higher profits for FY2012, on the back of improving sales for its consumable products, said its co-founder and group managing director Tan Kai Hee.
He said the multi-level marketing (MLM) group was now focusing on marketing its consumable products such as health supplements and herbs which had higher margins and ensure repeated sales for recurring income.
He said Hai-O’s profit for FY2011 ended April 30 had fallen 60% due to the implementation of the new Direct Sales Act by the government in April 2010.
Bonia is acquiring PROPERTIES [] in Cheras for RM44.29 million for its expansion plans and to reduce rental expense.
Its unit Luxury Parade Sdn Bhd had entered into 15 sale and purchase agreements with Platinum Starhill Sdn Bhd to acquire freehold units in two blocks in Cheras.
ACE Market-listed AT Systematization became the latest casualty of Thailand’s flood casualty, after its wholly-owned subsidiary, Automation TECHNOLOGY [] Systematization Industries Limited (ATSi) temporarily closed its operations there.
ATSi procures design and assembles automatic machines according to purchase orders.
AT Systematization said ATSi had shut down the manufacturing operations from Oct 13 due to the unexpected severe floods in Thailand.
The Dow Jones industrial average shed 75.49 points, or 0.65 percent, at 11,501.56. The Standard & Poor's 500 Index fell 15.63 points, or 1.28 percent, at 1,209.75. The Nasdaq Composite Index was down 54.41 points, or 2.05 percent, at 2,603.02.
On Wednesday, several Asian markets slipped into the red yesterday after Hong Kong's government said it expects economic growth in the territory to be affected by weaker exports, with gross domestic product anticipated to grow at lower end of its own forecast range.
On Bursa Malaysia, among the stocks that could be in focus are KENCANA PETROLEUM BHD [], JCY International Bhd, BURSA MALAYSIA BHD [], HUA YANG BHD [], HAI-O ENTERPRISE BHD [], BONIA CORPORATION BHD [] and AT SYSTEMATIZATION BHD [].
The Edge FinancialDaily reports Kencana is in talks to acquire more than 130 acres (52ha) of land adjacent to its fabrication yard in Lumut, Perak, sources said.
It also reported Malaysia’s country's largest listed hard disk drive component maker by market capitalisation, JCY International Bhd, chalked up impressive gains on Bursa Malaysia yesterday with its share price rising 12.5 sen or 27.5% to close at 58 sen.
Bursa Malaysia’s net profit for the third quarter ended Sept 30, 2011 rose 39.37% to RM38.61 million from RM27.71 million a year earlier, driven mainly by higher revenue, but it was cautious on the outlook on concerns of further downside risk.
Revenue for the quarter increased by 23.68% to RM107.31 million from RM86.76 million in 2010. Earnings per share were 7.30 sen compared to 5.20 sen in 2010, while net assets per share was RM1.56.
For the nine months ended Sept 30, Bursa’s net profit rose to RM114.82 million from RM83.26 million in 2010, on the back of a 25% increase in revenue to RM324.47 million from RM259.14 million a year earlier.
Hua Yang’s net profit for the second quarter ended Sept 30, 2011 surged to RM13.89 million from RM4.31 million a year earlier, due mainly to steady CONSTRUCTION [] progress and better sales.
Its revenue for the quarter more than doubled to RM76.13 million from RM35.63 million in 2010.
Reviewing its performance, Hua Yang said the sales achieved during the quarter under revised was 119% higher year-on-year with total unbilled sales of RM395.24 million, giving it improved earnings visibility in the remaining period of FY2012.
Meanwhile, Hai-O Enterprise is expecting to see higher profits for FY2012, on the back of improving sales for its consumable products, said its co-founder and group managing director Tan Kai Hee.
He said the multi-level marketing (MLM) group was now focusing on marketing its consumable products such as health supplements and herbs which had higher margins and ensure repeated sales for recurring income.
He said Hai-O’s profit for FY2011 ended April 30 had fallen 60% due to the implementation of the new Direct Sales Act by the government in April 2010.
Bonia is acquiring PROPERTIES [] in Cheras for RM44.29 million for its expansion plans and to reduce rental expense.
Its unit Luxury Parade Sdn Bhd had entered into 15 sale and purchase agreements with Platinum Starhill Sdn Bhd to acquire freehold units in two blocks in Cheras.
ACE Market-listed AT Systematization became the latest casualty of Thailand’s flood casualty, after its wholly-owned subsidiary, Automation TECHNOLOGY [] Systematization Industries Limited (ATSi) temporarily closed its operations there.
ATSi procures design and assembles automatic machines according to purchase orders.
AT Systematization said ATSi had shut down the manufacturing operations from Oct 13 due to the unexpected severe floods in Thailand.
