KUALA LUMPUR: The local bourse may see some investors taking profit after the recent rally over the past straight seven days, which pushed the FBM KLCI to close the year on a positive note last Friday.
Window-dressing activities saw the KLCI surging more than 45 points to end 2011 at 1,530.7 and recording a year-to-date gain of 0.78%, outperforming the key regional markets which posted double-digit losses.
Total market capitalisation increased by RM11.38 billion over the same period to RM1.28 trillion on Dec 30.
Stocks which could see trading interest this week are those whose dividends will go ex and companies with fresh corporate news and thematic plays.
Among the stocks whose dividends will go ex today are Imaspro Corp Bhd’s first and final single-tier dividend of 3.5 sen and Chin Teck Plantations Bhd’s interim dividend of 16 sen.
Konsortium Logistik Bhd’s first interim (tax exempt) dividend of eight sen and special dividend of 37.7 sen will also go ex today.
RHB Research Institute has Multi-Purpose Holdings Bhd (MPHB) as its top pick for the numbers forecast operator (NFO) sub-sector. Its fair value is RM3.10 per share while price-to-earnings is only 12.3 times for 2012.
“We believe one of the main rerating catalysts for the stock would be the disposal of more of its non-core assets, which will put MPHB on a more even footing with Berjaya Sports Toto,” it said.
Other stocks in focus are MNRB Holdings Bhd, Malaysian Airline System Bhd (MAS), Cypark Resources Bhd, SMR Technologies Bhd, VS Industry Bhd, Silver Bird Group Bhd and JAKS Resources Bhd.
Malaysian Rating Corp Bhd (MARC) lowered its rating on MNRB’s RM200 million Islamic medium term notes to A+ IS from AA- IS after the reinsurer suffered two consecutive years of losses and thin cash flow coverage measures.
Last Friday, MAS unveiled its new management structure which included several new business units, the entry of two senior aviation experts and the departure of several top officials.
The focus will be on the long-haul business, with its group CEO Ahmad Jauhari Yahya taking on the role as CEO of long-haul. His deputy, Mohammed Rashdan Mohd Yusof, who is CEO of short-haul, will head the short-haul, group finance, aircraft finance and management, and in the interim helm commercial operations.
Cypark’s earnings fell 21.5% to RM4.11 million in the fourth quarter ended Oct 31 from RM5.24 million a year ago due to lower profit margins than the previous quarter.
SMR’s unit SMR HR Group Sdn Bhd has secured a RM14 million contract from the Human Resources Ministry to implement a trainining programme.
VS Industry’s earnings fell 10.9% to RM11.59 million in the first quarter ended Oct 31 from RM13.01 million a year ago due to stiffer competition and losses from its China associate.
Silver Bird called off its proposed placement exercise and a subscription commitment of up to RM100 million with GEM Global Yield Fund. It had to abort the proposals as Bursa Malaysia Securities Bhd rejected its application for a waiver from complying with all the requirements to undertake back-to-back placements.
JAKS posted net losses of RM25.13 million in the fourth quarter ended Oct 31 from a net profit of RM1.19 million a year ago due to goodwill impairment adjustment of RM25.9 million.
For the financial year ended Oct 31, it posted net losses of RM22.89 million compared to a net profit of RM2.28 million in the previous financial year.
This article appeared in The Edge Financial Daily, January 3, 2012.
Window-dressing activities saw the KLCI surging more than 45 points to end 2011 at 1,530.7 and recording a year-to-date gain of 0.78%, outperforming the key regional markets which posted double-digit losses.
Total market capitalisation increased by RM11.38 billion over the same period to RM1.28 trillion on Dec 30.
Stocks which could see trading interest this week are those whose dividends will go ex and companies with fresh corporate news and thematic plays.
Among the stocks whose dividends will go ex today are Imaspro Corp Bhd’s first and final single-tier dividend of 3.5 sen and Chin Teck Plantations Bhd’s interim dividend of 16 sen.
Konsortium Logistik Bhd’s first interim (tax exempt) dividend of eight sen and special dividend of 37.7 sen will also go ex today.
RHB Research Institute has Multi-Purpose Holdings Bhd (MPHB) as its top pick for the numbers forecast operator (NFO) sub-sector. Its fair value is RM3.10 per share while price-to-earnings is only 12.3 times for 2012.
“We believe one of the main rerating catalysts for the stock would be the disposal of more of its non-core assets, which will put MPHB on a more even footing with Berjaya Sports Toto,” it said.
Other stocks in focus are MNRB Holdings Bhd, Malaysian Airline System Bhd (MAS), Cypark Resources Bhd, SMR Technologies Bhd, VS Industry Bhd, Silver Bird Group Bhd and JAKS Resources Bhd.
Malaysian Rating Corp Bhd (MARC) lowered its rating on MNRB’s RM200 million Islamic medium term notes to A+ IS from AA- IS after the reinsurer suffered two consecutive years of losses and thin cash flow coverage measures.
Last Friday, MAS unveiled its new management structure which included several new business units, the entry of two senior aviation experts and the departure of several top officials.
The focus will be on the long-haul business, with its group CEO Ahmad Jauhari Yahya taking on the role as CEO of long-haul. His deputy, Mohammed Rashdan Mohd Yusof, who is CEO of short-haul, will head the short-haul, group finance, aircraft finance and management, and in the interim helm commercial operations.
Cypark’s earnings fell 21.5% to RM4.11 million in the fourth quarter ended Oct 31 from RM5.24 million a year ago due to lower profit margins than the previous quarter.
SMR’s unit SMR HR Group Sdn Bhd has secured a RM14 million contract from the Human Resources Ministry to implement a trainining programme.
VS Industry’s earnings fell 10.9% to RM11.59 million in the first quarter ended Oct 31 from RM13.01 million a year ago due to stiffer competition and losses from its China associate.
Silver Bird called off its proposed placement exercise and a subscription commitment of up to RM100 million with GEM Global Yield Fund. It had to abort the proposals as Bursa Malaysia Securities Bhd rejected its application for a waiver from complying with all the requirements to undertake back-to-back placements.
JAKS posted net losses of RM25.13 million in the fourth quarter ended Oct 31 from a net profit of RM1.19 million a year ago due to goodwill impairment adjustment of RM25.9 million.
For the financial year ended Oct 31, it posted net losses of RM22.89 million compared to a net profit of RM2.28 million in the previous financial year.
This article appeared in The Edge Financial Daily, January 3, 2012.
