KUALA LUMPUR (March 21) : As the FBM KLCI rebounded from the red to close in positive territory on Wednesday, it will be interesting to watch if the index will be able to sustain its gains on Thursday.
The KLCI rose 0.31% or 4.91 points to close at 1,582.53 points on Wednesday.
Analysts said they remain cautious on the trading dynamics of the KLCI following gains from its low last September. This has prompted anticipation of profit-taking by institutional and retail investors ahead of the country’s general election against a lack of domestic catalyst.
The expectation is that the KLCI may consolidate in the near term and the spotlight will now be directed at companies with smaller market capitalisation.
Stocks to watch on Thursday include BERJAYA SPORTS TOTO BHD [] Lysaght Galvanised Steel Bhd, TEXCHEM RESOURCES BHD [], Bumi Armada Bhd, MHC PLANTATION []S BHD [] and DAYA MATERIALS BHD [].
BToto posted net profit of RM112.74 million in the third quarter ended Jan 31, 2012, a slight decline of 1.8% from the RM114.87 million a year ago. Its revenue rose 15.5% to RM983.46 million from RM851.16 million. Earnings per share were 8.44 sen compared with 8.59 sen. It declared a third interim single tier exempt dividend of 6.0 sen per share which will go ex on April 9.
For the nine-month period ended Jan 31, 2012, its earnings rose 27.3% to RM310.52 million from RM243.91 million in the previous corresponding period. Revenue rose at a slower pace of 6.3% to RM2.691 billion from RM2.532 billion.
Lysaght clinched four subcontracts with a collective value of RM22.75 million from Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd, The contracts involve the supply, fabrication, delivery and installation of antenna poles, Lysaght said.
Shares of Lysaght which was untraded on Wednesday, last closed at RM2.08 last Friday (March 16).
Oil and gas support services firm Daya Materials and Italy-based joint venture partner Magneti Marelli which is a part of the Fiat Group, has secured a RM62 million contract from the Penang Development Corp to build a factory and offices at Penang’s Batu Kawan Industrial Park.
Daya Materials rose one sen to 19.5 sen on Wednesday.
Diversified entity Texchem Resources Bhd is selling a controlling 70% stake in two units to Japan-based Fumakilla Ltd for US$42.4 million. The subsidiaries are Technopia Sdn Bhd, a manufacturer of insecticides, and PT Technopia Jakarta, a mosquito coil producer.
Trading of Texchem shares which was suspended on Wednesday will resume trading on Thursday. The stock was last traded at 59 sen on Tuesday (March 20)
Oil and gas support services firm Bumi Armada has secured a RM115 million contract from Brazil national oil company Petróleo Brasileiro S.A. for the supply of a platform supply vessel to the South American entity. Bumi Armada added three sen to RM4.32 on Wednesday.
MHC plans to undertake a bonus issue 56.16 million new shares and a similar number of warrants. Both exercises will undertakenon the basis two bonus units (new shares and warrants) for every five existing shares held.
MHC shares was down one sen to RM1.60.
The KLCI rose 0.31% or 4.91 points to close at 1,582.53 points on Wednesday.
Analysts said they remain cautious on the trading dynamics of the KLCI following gains from its low last September. This has prompted anticipation of profit-taking by institutional and retail investors ahead of the country’s general election against a lack of domestic catalyst.
The expectation is that the KLCI may consolidate in the near term and the spotlight will now be directed at companies with smaller market capitalisation.
Stocks to watch on Thursday include BERJAYA SPORTS TOTO BHD [] Lysaght Galvanised Steel Bhd, TEXCHEM RESOURCES BHD [], Bumi Armada Bhd, MHC PLANTATION []S BHD [] and DAYA MATERIALS BHD [].
BToto posted net profit of RM112.74 million in the third quarter ended Jan 31, 2012, a slight decline of 1.8% from the RM114.87 million a year ago. Its revenue rose 15.5% to RM983.46 million from RM851.16 million. Earnings per share were 8.44 sen compared with 8.59 sen. It declared a third interim single tier exempt dividend of 6.0 sen per share which will go ex on April 9.
For the nine-month period ended Jan 31, 2012, its earnings rose 27.3% to RM310.52 million from RM243.91 million in the previous corresponding period. Revenue rose at a slower pace of 6.3% to RM2.691 billion from RM2.532 billion.
Lysaght clinched four subcontracts with a collective value of RM22.75 million from Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd, The contracts involve the supply, fabrication, delivery and installation of antenna poles, Lysaght said.
Shares of Lysaght which was untraded on Wednesday, last closed at RM2.08 last Friday (March 16).
Oil and gas support services firm Daya Materials and Italy-based joint venture partner Magneti Marelli which is a part of the Fiat Group, has secured a RM62 million contract from the Penang Development Corp to build a factory and offices at Penang’s Batu Kawan Industrial Park.
Daya Materials rose one sen to 19.5 sen on Wednesday.
Diversified entity Texchem Resources Bhd is selling a controlling 70% stake in two units to Japan-based Fumakilla Ltd for US$42.4 million. The subsidiaries are Technopia Sdn Bhd, a manufacturer of insecticides, and PT Technopia Jakarta, a mosquito coil producer.
Trading of Texchem shares which was suspended on Wednesday will resume trading on Thursday. The stock was last traded at 59 sen on Tuesday (March 20)
Oil and gas support services firm Bumi Armada has secured a RM115 million contract from Brazil national oil company Petróleo Brasileiro S.A. for the supply of a platform supply vessel to the South American entity. Bumi Armada added three sen to RM4.32 on Wednesday.
MHC plans to undertake a bonus issue 56.16 million new shares and a similar number of warrants. Both exercises will undertakenon the basis two bonus units (new shares and warrants) for every five existing shares held.
MHC shares was down one sen to RM1.60.
