QL Resources 3Q earnings slightly higher at RM34.4m

KUALA LUMPUR (Feb 21): QL RESOURCES BHD []'s net profit increased by 3.8% to RM34.42 million in the fourth quarter ended Dec 31, 2011 from RM33.14 million a year ago, due to increased sales in its marine product manufacturing arm, palm oil activities and livestock farming.

It said on Tuesday, revenue increased 10.6% to RM498.96 million from RM450.95 million a year ago. Earnings per share were 4.14 sen compared to 4.20 sen.

QL said it recorded a 14% increase in sales from its surimi and surimi-based products, a 13% rise in sales of under its palm oil activities due to lower CPO prices and a 17% increase in sales contribution from farm products.

For the first nine months ended Dec 31, 2011, net profit increased 7.8% to RM100.21 million from RM92.94 million. Revenue rose 14.1% to RM1.45 billion from RM1.27 billion.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KrisAssets: Market value of malls at RM3.29b, up RM470m from Sept 30 valuation

KUALA LUMPUR (Feb 21): KRISASSETS HOLDINGS BHD [] said the market value of its two malls -- Mid Valley Megamall and The Gardens Mall in Kuala Lumpur – have been revalued at RM3.290 billion as at Dec 31, 2011.

It said on Tuesday, this was RM470 million above the valuation as at Sept 30 of RM2.82 billion.

“The revaluation was carried out by independent professional valuers, Jordan Lee & Jaafar Sdn Bhd to ascertain the current market value of Mid Valley Megamall and The Gardens Mall for accounting purposes in line with Financial Reporting Standard 140 on investment PROPERTIES [],” it said.

KrisAssets said the market value of Mid Valley Megamall was RM2.36 billion, 18% higher compared with the Sept 30 valuation of RM2 billion.

The market value of The Gardens Mall was RM930 million, 13.41% higher compared with the Sept 30 valuation of RM820 million.

“The net surplus of RM352.5 million (deferred tax at 25%) are recognised in the statement of comprehensive income of KrisAssets group for the financial period ended Dec 31, 2011 under the fair value model in line with the policy.

“Based on the ordinary share capital including treasury shares as at Dec 31, 2011, the consolidated net assets per share of KrisAssets is RM4.50 per share,” it said.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Maybank proposes up to RM7 bn subordinated note programme

KUALA LUMPUR (Feb 21): MALAYAN BANKING BHD [] has proposed to establish a subordinated programme of up to RM7 billion in nominal value.

Maybank said on Tuesday it had obtained the Securities Commission’s approval for the establishment of the programme.

It had on Dec 14, 2011 had also obtained Bank Negara Malaysia’s approval to issue the subordinated notes.

“The net proceeds from the issuance of the subordinated notes will be utilised to fund Maybank’s working capital, general banking and other corporate purposes,” it said.

It said the notes issued under the programme would qualify as Tier 2 capital of Maybank subject to compliance with the requirements as specified in the risk weighted capital adequacy framework and capital adequacy framework for Islamic Banks guideline by BNM.

Maybank said the tenure of the would be up to 20 years from the date of first issuance of subordinated notes and have a tenure of either the following; 10-year non-callable basis; 15 years on a 15 non-callable 10 basis; 12 years on a 12 non-callable 7 basis or 10 years on a 10 non-callable 5 basis.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

TH Plantations earnings dn 11.3% to RM37m in 4Q

KUALA LUMPUR: TH PLANTATION []s Bhd recorded a 11.3% fall in profits to RM37.71 million in the fourth quarter ended Dec 31, 2011 from RM42.52 million a year ago, due to maintenance carried out during the quarter.

It said on Tuesday, Feb 21, revenue increased by 1.99% to RM130.09 million from RM128.53 million. Earnings per share were 7.41 sen compared to 8.71 sen. It proposed dividend per share of 12.50 sen.

TH Plantations said the fall in profit was attributed to extensive fertilising activities and maintenance during the quarter under review.

The increase in revenue was due to higher sales volume of fresh fruit bunches (FFB) sold to external mills by TH Plantations Saribas Sdn Bhd, a subsidiary of TH Plantations.

The directors proposed a first and final ordinary dividend of 12.50 sen under the single tier system amounting to RM 63.44 million.

For the year ended Dec 31, 2011, net profit increased 39.5% to RM124.83 million from RM89.48 million. Revenue rose 18.8% to RM434.86 million to RM365.97 million.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Tradewinds Plantations 4Q net profit up 17.5% to RM97.7m

KUALA LUMPUR (Feb 21): Tradewinds PLANTATION []s Bhd's earnings increased 17.5% to RM97.75 million in the fourth quarter ended Dec 31, 2011 from RM83.33 million a year ago, boosted by an increase in its palm products production.

It said on Tuesday, revenue soared 174% to RM804.23 million from RM293.45 million. Earnings per share were 15.57 sen compared to 13.24 sen for the same period last year.

The group said the higher profit was mainly due to an increase in production of palm products as well as the consolidation of Mardec Bhd group's revenue from October 2011 to December 2011 after Tradewinds Plantations completed the acquisition of Mardec on Oct 10, 2011.

For the year ended Dec 31, 2011, its net profit increased 79.9% to RM335.46 million from RM186.40 million. Revenue rose 86.8% to RM1.70 billion from RM909.13 million.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Tebrau Teguh 4Q net loss RM1.13m, FY11 net profit RM2.58m

KUALA LUMPUR (Feb 21): TEBRAU TEGUH BHD [], which was actively traded recently following a takeover exercise, reported net losses of RM1.13 million for the fourth quarter ended Dec 31, 2011 due to higher operating expenses. It was also in the red with net loss of RM212,000 a year ago.

It reported on Tuesday that its revenue fell 49.4% to RM19.48 million from RM38.56 million a year ago. Loss per share was 0.17 sen compared with loss per share of 0.03 sen.

Tebrau Teguh said revenue from its property development increased from RM1.53 million to RM1.95 million due to higher income from joint venture development activities. Hence, gross profit was higher at RM1.15 million.

As for its CONSTRUCTION [] business, it said revenue from this segment fell from RM37.14 million to RM17.53 million. Gross profit reduced from RM2.21 million to RM1.19 million.

For FY11, it was still profitable, with net profit of RM2.58 million, down by 29% from RM3.63 million in FY10. Revenue fell 37.3% to RM113.41 million from RM180.97 million.

However, Tebrau Teguh said it was upbeat on its outlook for FY12. Its property development project comprising of 544 apartments with a gross development value of RM165 million would be launched o the second half of 2012.

It also expected construction activity to be better after it was awarded a RM303 million contract by the Johor State Secretary to develop 413 acres of land in Pengerang, Kota Tinggi into a comprehensive mixed development.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Sarawak Cable to go ahead with transmission line projects

KUALA LUMPUR (Feb 21): Sarawak Cable Bhd will go ahead with its plans to take part in the transmission line projects in Sarawak.

The company said on Tuesday the termination of the MoU with Sinohydro Corporation (M) Sdn. Bhd. and KEC International Ltd last week would not have any impact on its earnings per share and net asset per share.

On Feb 17, Sarawak Cable said the three parties had decided not to pursue the MoU which was to jointly prepare and submit proposals for building transmission lines in Sarawak.

“As the parties to the MOU will not be submitting the proposals together, the MoU is thereby terminated,” it had then said.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Telcos give boost, as KLCI closes marginally higher

KUALA LUMPUR (Feb 21): Telco stocks led the FBM KLCI to end on a higher note after a weak start earlier on Tuesday, and after Greece secured a second bailout from the European Central Bank (ECB).

The FBM KLCI on Tuesday was 3.94 points higher, or 0.21%, to close at 1,563.78, with telco stocks — like Maxis (up 17 sen to RM5.98), Axiata (up 4.0 sen to RM5.04) and Telekom (up 7.0 sen to RM4.93) — pushing the index up by 2.60 points.

Although it started on a weak footing, the index firmed up after the midday close, in line with regional bourses.

Volume traded was 1.89 billion shares, valued at RM1.75 billion. Losers led gainers 442 to 370, while 345 counters traded unchanged.

Regionally, markets closed on a positive note; however, Asian markets did not rally as expected, after Greece secured €130 billion (RM519.09 billion) for its second bailout.

"It's a relief for markets, broadly speaking, but it doesn't mean that this is the end of the line," said Thomas Lam, economist at DMG & Partners Securities in Singapore, in a report by Reuters. "It's a difficult process, but it's inching in the right direction."

Shanghai's Composite Index closed up 0.75% to 2,381.43, Hong Kong's Hang Seng rose 0.25% to 21,478.72, and Singapore's Straits Index increased marginally by 0.13% to 3,025.07. Japan's Nikkei 225 was down 0.23% to 9,463.02, Taiwan's Taiex fell 0.42% to 7,921.50, and South Korea's Kospi dropped 0.03% to 2,024.24.

On Bursa Malaysia, top gainers included United PLANTATION []s (up 70 sen to RM23.26), Panasonic Malaysia (up 68 sen to RM21.20), Fraser & Neave (up 26 sen to RM17.84), and MALPAC HOLDINGS BHD [] (up 25 sen to RM1.80).

Among top losers were British American Tobacco (down 90 sen to RM53.00), Dutch Lady (down 34 sen to RM25.40), CHIN TECK PLANTATIONS BHD [] (down 20 sen to RM8.66), KLK (down 14 sen to RM24.00), and Nestlé (down 12 sen to RM55.88).

The most actively traded stocks included IFCA MSC BHD [] (up 3.5 sen to 13.5 sen), Green Ocean (up 7.5 sen to 32.5 sen), and Naim Indah Corp (up 1 sen to 48.5 sen).



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Market Commentary

The FBM KLCI index gained 3.21 points or 0.21% on Tuesday. The Finance Index increased 0.26% to 13952.02 points, the Properties Index up 0.31% to 1048.83 points and the Plantation Index down 0.85% to 8745.43 points. The market traded within a range of 6.73 points between an intra-day high of 1564.86 and a low of 1558.13 during the session.

Actively traded stocks include IFCAMSC, GOCEAN, NICORP, COMPUGT, FOCUS-WB, FOCUS, TMS, KHSB, JCY and TEBRAU. Trading volume increased to 1894.51 mil shares worth RM1747.28 mil as compared to Monday’s 1864.17 mil shares worth RM1610.89 mil.

Leading Movers were MAYBANK (+9 sen to RM8.70), MAXIS (+17 sen to RM5.98), AXIATA (+4 sen to RM5.04), TM (+7 sen to RM4.93) and TENAGA (+3 sen to RM6.07). Lagging Movers were KLK (-14 sen to RM24.00), YTL (-4 sen to RM1.47), AMMB (-7 sen to RM6.07), BAT (-90 sen to RM53.00) and MMCCORP (-5 sen to RM2.81). Market breadth was negative with 370 gainers as compared to 442 losers. -- JF Apex Securities Bhd



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

AFG 3Q net profit up 9% to RM121.29m, 9-month profit RM371.8m

KUALA LUMPUR (Feb 21): ALLIANCE FINANCIAL GROUP BHD [] (AFG) posted net profit of RM121.29 million in the third quarter ended Dec 31, 2011, up 9% from the RM111.26 million, underpinned by growth in interest income due to the expansion in loans.

It said on Tuesday its revenue increased by 9.2% to RM311.43 million from RM284.98 million. Earnings per share were 7.90 sen compared with 7.30 sen.

AFG said for the nine months ended Dec 31, 2011, the earnings rose 14.6% to RM371.80 million from RM324.27 million while it recorded a 9% increase in revenue of RM935.80 million from RM858.18 million.

“For the nine months ended Dec 31, 2011, the group recorded profit before taxation of RM499.5 million, an increase of 13.8% compared to the corresponding period last year. The group registered a 11.0% growth in interest income due to the 11.5% expansion in loans,” said AFG.

Gross loan/financing registered year-on-year growth of 11.5%, driven mainly by the expansion in housing loans and SME lending.

Meanwhile, customers’ deposits grew 9.1% year-on-year with loan-to-deposit ratio at 78.9% as at December 2011, as compared with 77.2% a year ago.

AFG said as at Dec 31, 2011, the current and savings account (CASA) accounted for 35.6% of the group’s customer deposits.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KL shares mixed at midafternoon

Share prices on Bursa Malaysia were mixed at midafternoon today, prompted by gains in blue-chips, dealers said.

At 3pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.93 points to 1.562.50, after opening 2.41 points higher at 1,562.98.

In a statement today, Hong Leong Investment Bank said amid fresh concern about rising oil prices, the prevailing market consolidation phase may prolong for a little longer.

It said any market pullbacks, however, were likely to be transitory and fairly shallow.

The Finance Index increased 33.54 points to 13,949.08.

The Industrial Index lost 4.98 points to 2,905.14 and the Plantation Index decreased 80.03 points to 8,740.72.

The FBM Emas Index advanced 8.92 points to 10,851.17 and the FBM Ace Index added 8.96 points to 4,733.73.

The FBM70 Index fell 2.279 points to 12,335.49.

Losers outnumbered gainers by 413 to 291 with turnover at 1.058 billion units valued at RM864.679 million.

Among actives, Panasonic Manufacturing surged 68 sen to RM21.10, United Plantations gained 62 sen to RM23.38, Fraser & Neave added 22 sen to RM17.80 and BLD Plantation was up 21 sen to RM10.04.

Of the heavyweights, Maybank earned seven sen to RM8.68, Sime Darby added one sen to RM9.64, Petronas Chemicals gained three sen to RM6.95, Maxis rose 20 sen to RM6.01 and Axiata increased three sen to RM5.03. -- Bernama



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI stages mild rebound, boost from Greek debt accord

KUALA LUMPUR (Feb 21): Blue chips staged a mild rebound in the afternoon session on Tuesday in line with most key Asian markets as sentiment was bolstered by the Greek bailout deal.

At 3pm, the FBM KLCI was up 1.85 points to 1,562.421. Turnover was 1.06 billion shares valued at RM865.49 million. There were 292 gainers, 414 losers and 353 stocks unchanged.

Panasonic Malaysia was the top gainer, adding 68 sen to RM21.19 while Maxis gained 19 sen to RM6.

Among the PLANTATION []s, United Plantations added 62 sen to RM23.38, BLD Plantations 21 sen to RM10.04 and Sarawak Plantations 14 sen to RM3.06.

F&N added 22 sen to RM17.80 on mild buying interest after its share price was recently impacted by the decline in earnings.

Nilai Resources added 14 sen to RM1.55 after the major shareholders proposed a selective capital repayment (SCR) of RM1.50 a share.

YTL Cement and MBM Resources added 13 sen each to RM4.73 and RM4.43.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Flash: MAHB 4Q net profit up 0.8% to RM122m, FY11 at RM401m

KUALA LUMPUR (Feb 21): Malaysia Airports Holdings Bhd (MAHB) earnings were just up 0.8% to RM122.88 million in the fourth quarter ended Dec 31, 2011 from RM121.91 million a year ago.

It said on Tuesday its revenue increased by 2% to RM837.38 million from RM820.60 million. Earnings per share were 11.17 sen compared with 11.08 sen.

For the financial year ended Dec 31, 2011, its earnings rose 26.6% to RM401.11 million from RM316.78 million. Its revenue increased 11.6% to RM2.754 billion from RM2.468 billion.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Malaysia Airports Q4 profit rises to RM122.9m

Malaysia Airports Holdings Bhd said fourth-quarter profit rose to RM122.9 million from RM121.9 million in the same period a year earlier.

Revenue slipped to RM837.4 million from RM820.6 million, the airport operator said in a Kuala Lumpur stock exchange filing today. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Malaysian Marine posts lower Q2 profit of RM46.4m

Malaysian Marine and Heavy Engineering Holdings Bhd, the rig-building arm of MISC Bhd, said second-quarter profit dropped to RM46.4 million from RM134.1 million a year earlier.

Revenue fell to RM716.1 million from RM1.3 billion a year ago, the company said in a Kuala Lumpur exchange filing. The drop was because it no longer recognised revenue from a project in Turkmenistan, the statement said. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Tricubes debuts RTD eservices on myemail

Tricubes Bhd, the enabler of the 1Malaysia email account, today announced the debut of two initial electronic services on www.myemail.my, based on the Road Transport Department's (RTD) driving licence and road tax reminder for myemail users.

In a statement today, its chief executive officer Khairun Mokhtar said myemail users, would receive reminders two weeks before their driving licence or road tax expired, with this new RTD eService.

"Reminders will be sent via email directly to the user's myemail inbox as well as via their smartphone for more convenience," he added.

The RTD reminders from myemail are digital versions of the same sent by the department via physical mail and is free.

Tricubes, which is listed on the ACE Market, is also currently working with Bursa Malaysia to facilitate the approval of its regularisation plan submitted on Dec 29, 2011. -- Bernama



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

'New financing guideline hurt sales'

Bank Negara Malaysia (BNM)'s new responsible financing guideline, introduced in November last year, has severely damaged PROTON EDAR Dealers Association Malaysia's sales, with only 30 per cent of applicants securing car loans in the first two months of the year.

Its president, Armin Baniaz Pahamin, said the growth of the automotive industry depended on customers' ability to secure financing to buy a car.

"If this measure is not reviewed our automotive industry, which supports economic growth, will slowly collapse, as the average Malaysian population is not able to meet the guideline," he added.

In a statement today, the association said BNM should encourage healthy competition among bankers to provide financing for buyers and provide a standard procedure of compliance for the public to refer to when buying a car.

Armin also said the new guideline would give rise to illegal "loan sharks" and promote unproductive population, with vehicle loan approval rate, decreasing.

"When the banks are more stringent, it provides a better opportunity for loan sharks to grow, and it was already at its prime even before the guideline was introduced," he added. -- Bernama



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

MMHE 3Q net profit dn 65.4% to RM46.35m on-yr, 9-month RM205.6m

KUALA LUMPUR (Feb 21): Malaysia Marine and Heavy Engineering Holdings Bhd’s earnings fell 65.4% to RM46.35 million in the third quarter ended Dec 31, 2011 from RM134.15 million a year ago.

It said on Tuesday its revenue declined 45.6% to RM716.15 million from RM1.316 billion a year ago. Its earnings per share were 2.90 sen compared with 8.80 sen.

MMHE’s board of directors recommended a final single tier dividend of 10 sen per share amounting to RM160.0 million.

Commenting on the results, it said revenue from its engineering and CONSTRUCTION [] division fell from RM1.269 billion to RM594.1 million mainly due to no further recognition of revenue from PCIC Turkmenistan Block 1, Phase 1 project in the quarter as compared to the corresponding quarter.

The project contract was novated to a jointly controlled entity, MMHE-TPGM Sdn Bhd with effect from Jan 1,2011.

As for the marine conversion and repair segment, revenue improved from RM46.3 million to RM132.1 million after MMHE secured two new conversion contracts, which started during the period and higher numbers of energy vessels repairs secured during the quarter.

The operating profit for the marine conversion and repair improved during the quarter amounting to RM16.1 million as compared to RM2.3 million in the corresponding quarter.

For the nine months, its earnings fell 36.1% to RM205.60 million from RM322.11 million in the previous corresponding period. Its revenue declined 39.1% to RM2.137 billion from RM3.512 billion.

The company had on March 2, 2011 announced the change of financial year end from March 31 to Dec 31. The first new financial year would end on Dec 31, 2011 with a shorter nine-month period from April 1, 2011 to Dec 31, 2011.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KL shares end morning session lower

Share prices on Bursa Malaysia ended the morning session marginally lower today, tracking losses in the finance and plantation counters, dealers said.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI), finished 0.98 of a point weaker at 1,559.59, after opening 2.41 points higher at 1,562.98.

Dealers said investors were hesitant to raise their exposure on the market as they continued to be wary that the second bailout package for Greece, would not be a concrete solution to curb the Eurozone debt woes.

Back home, however, gains in selected key heavyweight counters like RHB Capital, Telekom and Petronas Dagangan lifted the FBM KLCI for it to stay above the 1,550 level.

RHB Capital added five sen to RM7.53, Telekom earned one sen to RM4.87 and Petronas Dagangan increased two sen to RM18.10.

The Finance Index decreased 16.13 points to 13,899.41, the Industrial Index lost 8.84 points to 2,901.28 and the Plantation Index declined 82.39 points to 8,738.36.

The FBM Emas Index fell 11.26 points to 10,830.99, the FBM Ace Index was down 1.56 points to 4,723.21 and the FBM Mid 70 Index decreased 23.979 points to 12,313.79.

Losers led gainers, 431 to 236, while turnover amounted to 913.217 million shares worth RM649.727 million.

For the actives, United Plantations surged 60 sen to RM23.36, Panasonic Manufacturing added 58 sen to RM21.00, while Maxis and BLD Plantation climbed 21 sen each to RM6.02 and RM10.04, respectively.

Among heavyweights, Maybank and Sime Darby stood unchanged at RM8.61 and RM9.63 respectively, and Petronas Chemicals gained three sen to RM6.95 but CIMB lost three sen to RM7.27. -- Bernama



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Market dips in directionless trade, Greek bailout deal may support

KUALA LUMPUR (Feb 21): The Malaysian market slipped in directionless trade on Tuesday morning as investors stayed on the sidelines but the positive news that euro zone finance ministers sealed a second bailout for debt-laden Greece could provide some lift to sentiment.

At 12.30pm, the FBM KLCI fell 0.98 of a point to 1,559.59. Turnover was 913.22 million shares valued at RM649.72 million. Declining stocks beat advancers 431 to 236 while 342 stocks were unchanged.

All key regional markets were in the red. Japan’s Nikkei 225 fell 0.3% to 9,456.70, Hong Kong’s Hang Seng Index 0.47% to 21,323.90, Shanghai’s Composite Index 0.37% to 2,354.74, Taiwan’s Taiex 0.61% to 7,906.50, South Korea’s Kospi 0.75% to 2,009.66 and Singapore’s Straits Times Index 0.14% to 3,016.82.

Brent fell 6 cents to US$119.99 while US light crude oil rose US$1.59 to US$104.83. The ringgit was nearly unchanged against the US dollar at 3.0214. Crude palm oil futures fell RM4 to RM3,241 per tonne.

Reuters reported euro zone officials as saying that the finance ministers had nailed measures to cut Greece's debt to around 121% of gross domestic product by 2020, close to their original target of 120, after negotiators for private bondholders offered to accept a bigger loss to help plug the funding gap.

It reported that agreement on a 130-billion-euro rescue package with strict conditions attached will help draw a line under months of uncertainty that has shaken the currency bloc, and avert an imminent Greek bankruptcy.

At Bursa Malaysia, BAT was the top loser, down 94 sen to RM52.96 as it gave up most of Monday’s gains of RM1.38.

Esso fell 11 sen to RM3.65 after posting lower earnings. Nestle and Top Glove fell 10 sen each to RM55.90 and RM4.82.

Penny stock Widetec fell 25 sen to 41 sen but with only 2,000 shares done.

Naim Indah Corp was the most active with 67.43 million shares done, adding 2.5 sen to 50 sen.

PLANTATION []s were among the major gainers. United Plantations was the top gainer, rising 60 sen to RM23.36 after posating a strong set of results while BLD Plantations added 21 sen to RM10.04, Sarawak Plantations 14 sen to RM3.06.

Market expectations of bumper dividends from Maxis saw the share price crossing RM6, up 21 sen to RM6.02 in many months.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

BP Plastics 4Q net profit dn 23.6% to RM4.27m on-yr

KUALA LUMPUR (Feb 21): BP PLASTICS HOLDING BHD []’s net profit fell 23.6% to RM4.27 million in the fourth quarter ended Dec 31, 2011 from RM5.59 million a year ago.

It said on Tuesday its revenue was almost unchanged at RM55.83 million compared with RM55.66 million a year ago. Its earnings per share were 2.37 sen compared with 3.11 sen.

“The board of directors of BP Plastics had resolved to recommend a 4% second interim tax exempt dividend (2.0 sen per share) for the financial year ended Dec 31, 2011,” it said.

BP Plastics said for FY11, its net profit fell 9.3% to RM15.53 million from RM17.13 million in FY10 mainly due to higher raw material input costs and overall strengthening of the ringgit against the US dollar in FY2011 compared to previous year.

Its revenue was 0.6% higher at RM222.16 million from RM220.75 million, despite the Japan tsunami in March 2011 and weakened global demand as the economic world grappled with risk on-risk off concerns over the impact of the on-going Eurozone debt crisis.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Notion VTEC jumps on bonus issue plan

Notion VTEC Bhd, a metal processor and tools manufacturer, climbed 3 percent to RM2.08 in Kuala Lumpur trading at 10.15am, set for its highest close since July 29.

The company plans to issue three-for-four bonus shares and free warrants, Notion VTEC said in a statement. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Genetec climbs on new orders

Genetec Technology Bhd, an industrial automated-equipment maker, climbed 2.4 percent to 21.5 sen in Kuala Lumpur trading at 10.15am, set for its steepest increase since Feb. 14.

The company secured new orders valued at RM38.9 million, it said in a statement. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Lion Forest declines on Q2 profit tumble

Lion Forest Industries Bhd, a plantations and building materials group, dropped 1.9 percent to RM1.59 in Kuala Lumpur trading at 10.15am, headed for its lowest close since Feb. 13.

Second-quarter profit tumbled to RM674,000 from RM189.4 million a year earlier, according to an exchange filing. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Iris rises on housing job in PNG

Iris Corp, a technology-consulting company, rose 2.7 percent to 19 sen in Kuala Lumpur trading at 10.15am, set for its highest close since Feb. 17.

The company signed an agreement to develop a housing project in Papua New Guinea, according to an exchange filing. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Sarawak Plant advances on profit jump

Sarawak Plantation Bhd, a palm oil producer, rose 2.7 percent to RM3 in Kuala Lumpur trading at 10.15am, on course for its highest close since Sept. 15, 2008.

Fourth-quarter profit jumped more than five times to RM19.7 million from RM3.4 million a year earlier, according to an exchange filing. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Affin rises on improved Q4 income

Affin Holdings Bhd rose 1.3 percent to RM3.19 in Kuala Lumpur trading at 10.15am, headed for its biggest gain since Jan. 26.

Fourth- quarter net income rose 5 percent from year earlier to RM132.5 million (US$44 million), according to a stock-exchange filing.

The lender will target full-year earnings per share of 38.3 sen for this year, compared with 34 sen in 2011, it said. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Plantations mixed in early trade, United Plantations up, KLK down

KUALA LUMPUR (Feb 21): Shares of PLANTATION [] stocks were mixed in early trade on Tuesday, after crude palm oil (CPO) futures hit an eight-month high of RM3,260 per tonne on Monday.

The FBM KLCI was down 1.47 points to 1,559.10. Turnover was 452.59 million shares valued at RM232.01 million. There were 203 gainers, 253 losers and 292 counters unchanged.

United Plantations was the top gainer, up 74 sen to RM23.50 after it reported a higher pre-tax profit of RM491.541 million for the financial year ended Dec 31, 2011 versus RM349.46 million in FY10. Revenue rose to RM1.385 billion from RM995.107 million

BLD Plantations added 23 sen to RM10.06.

However there was some profit taking, with Chin Tek down 20 sen to RM8.66.

Batu Kawan and KL Kepong, which are scheduled to announce their results this week, slipped as investors locked in gains. Batu Kawan fell 14 sen to RM18.80 and KLK six sen lower at RM24.08.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Esso Malaysia falls on lower Q4 income

Esso Malaysia Bhd, which operates an oil refinery and sells petroleum products, dropped 2.1 percent to RM3.68 in Kuala Lumpur trading at 10.15am, bound for its steepest decline since Dec. 30.

Fourth-quarter net income slid to RM34.6 million from RM121.5 million a year earlier, it said in an exchange filing. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Nilai Resources up on selective capital repayment plan

KUALA LUMPUR (Feb 21): Shares of Nilai Resources Group Bhd climbed in early trade on Tuesday after the major shareholders proposed a selective capital repayment (SCR) of RM1.50 a share.

At 9.44am, it was up 13 sen to RM1.43. There were 35,000 shares transacted.

The FBM KLCI slipped 1.16 points to 1,559.41. Turnover was 371.64 million shares valued at RM185.12 million. Decliners led advancers 209 to 189 while 266 counters were unchanged.

On Monday, Nilai Resources announced the major shareholders Akarmas Sdn Bhd and Tan Sri Dr Gan Kong Seng -- who collectively hold 62.937 million shares or 55.1% equity -- had proposed the SCR.

However, they would not be entitled to the SCR due to their proposed corporate exercise which could see taking the company private.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KL shares mixed in early trade

Share prices on Bursa Malaysia were mixed in early trading session Tuesday on lack of appetite among investors for riskier assets, dealers said.

At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,559.64, down 0.93 of a point, after opening 2.41 points higher at 1,562.98.

HwangDBS Vickers Research said the local bourse may continue to climb slowly and steadily amid positive foreign news flows.

"The benchmark FBM KLCI will probably advance towards the immediate resistance target of 1,580 points ahead," it said in a statement today. Wall Street was closed yesterday for a but most European stock markets rose overnight.

Essentially, the research firm said investors remained confident that the eurozone finance ministers would be able to wrap up talks for Greece to meet certain conditions in exchange for international bailout funds.

The Finance Index rose 1.52 points to 13,917.06 but the Plantation Index erased 69.58 points to 8,751.17 and the Industrial Index rose 0.91 of a point to 2,911.03

The FBM Emas Index lost 4.37 points to 10,837.88, the FBM Mid 70 Index earned 2.021 points to 12,339.79 and the FBM Ace Index gained 19.64 points to 4,744.41.

Gainers outpaced losers 147 to 105 while 170 counters were unchanged, 1,062 untraded and 19 others were suspended with turnover at 173.023 million shares worth RM57.811 million.

Among actives, United Plantation added 24 sen to RM23.00, Panasonic Manufacturing earned 18 sen to RM20.60 while Hartalega and Quality Concrete gained 14 sen each to RM8.10 and RM1.44, respectively.

Heavyweights, Maybank and Sime Darby were unchanged at RM8.61 and RM9.63, respectively, Petronas Chemicals earned one sen to RM6.93 and CIMB erased one sen to RM7.29. -- Bernama



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Blue chips cautious in early trade, eyes on Greece again

KUALA LUMPUR (Feb 21): Blue chips on Bursa Malaysia slipped in early trade on Tuesday as investors awaited the outcome of a 130 billion ero rescue for Greece.

Reuters reported that Euro zone finance ministers were expected to approve the rescue plan with strict conditions after months of uncertainty that has shaken the currency bloc, although work remained to be done to make the numbers add up.

At 9.30am, the FBM KLCI was down 1.16 points to 1,559.41. Turnover was 282.20 million shares valued at RM133.63 million. However, gainers led losers 174 to 161 while 238 stocks were unchanged.

Among the decliners were Esso, down 12 sen to RM3.64 after its earnings fell. CI Holdings lost seven sen to Rm1.26, Top Glove six sen to RM4.86, KLK also six sen to RM24.08 and Bursa Malaysia five sen to RM7.35.

Among the lower liners SPB lost 10 sen to RM3.61, Jobstreet five sen to RM2.16 and KKB four sen to RM1.71.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

OSK Retail Research: Rally for Wijaya Baru may have started

KUALA LUMPUR (Feb 21): OSK Retail Research said the expected rally of WIJAYA BARU GLOBAL BHD []’s share price may have finally started following the break out from the sideways range last week.

It said on Tuesday that Wijaya was one of the stocks featured in its Daily Trading report in December last year.

“The stock was expected to trade higher after closing above the mid-2011 high on a daily basis. However, the expected rise did not materialise and the stock traded sideways at the high level instead.

“The resumption of the uptrend may have finally started after it closed above the psychological 80 sen last Friday,” it said.

To recap, OSK Research said the long-term downtrend since reaching the highs of 2005 appeared to have ended by the price surge in mid-2011, closing above the 2010 high.

This upward bias was reinforced by the subsequent shallow correction – 50% of the mid-2011 rally – and the rising 50-week MAV line.

The change of trend was finally confirmed by the 52-week high close in Dec 2011. However, the 80 sen price level proved to be a tough resistance to break and the stock traded sideways for the next two months instead.

The breakout finally happened last week when it closed above 80 sen for the first time on a weekly basis. It was followed by a higher close on Monday and another close above 80 sen this Friday should confirm the breakout.

“Thus, the stock is expected to rally further and positions can be initiated at the current level or on pullback,” it said.

OSK Research said a close below 76 sen could be a stop level, as this price level withstood four tests in the past two months.

A measured move based on mid-2011 rally could see the price trading at RM1.10, also the high of 2003 and 2004. If broken, resistance is expected at the prior support of RM1.40 and a stronger one at RM1.80, the high of 2005 and 2007.

OSK Research said the trade will not pan out if the stop loss is triggered. Look for the stock to trade lower instead and a close below the September-low of 50 sen will likely spell the end of the eight-month rally.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

CIMB Research maintains Neutral on MSM, TP RM4.65

KUALA LUMPUR (Feb 21): CIMB Equities Research said MSM Malaysia Holdings’ record performance in FY11 may not be sustainable as future profit margins could be crimped by higher raw material costs.

It said on Tuesday that it was offset by the group’s strong cash flows and dividend yield prospects.

“FY11 net profit was in line at 101% of our forecast and 102% of consensus. The one sour note was the surprising absence of a final dividend.

“We fine-tune FY12-13 earnings for lower raw sugar costs, leading to a slightly higher target price (still based on 12.6 times P/E),” it said.

CIMB Research said it was maintaining Neutral rating in view of its 5% net dividend yield. Its target price for MSM was RM4.65.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

RHB Research remains positive on Daibochi, FV RM2.78

KUALA LUMPUR (Feb 21): RHB Research Institute remains positive about Daibochi’s long-term growth strategy and is maintaining its Market Perform call on the stock.

It said on Tuesday it had made some minor changes to the fair value estimate of RM2.78 a share (RM2.77 previously) based on 9.5 times FY12 EPS.

“We remain positive on Daibochi’s long-term growth strategy on the back of its emphasis in production innovation (including electronic packaging and medical), as well as its emphasis on Australia.

“Nevertheless, we remain cautious as there could still be risks of margin erosion due to the price volatility of raw material components (although raw material prices have recently stabilised),” said RHB Research.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

HDBSVR sees recovery for Notion VTec in FY12, maintains Buy, TP RM2.10

KUALA LUMPUR (Feb 21): HwangDBS Vickers Research (HDBSVR) expects Notion VTec to see a recovery in the current financial year (FY12), underpinned by the hard disk drive (HDD) segment.

It said on Tuesday that it was maintaining a Buy with a target price of RM2.10.

HDBSVR said Notion VTec posted losses in 1QFY12 (October to December 2011) registered losses after flooding at Notion’s factories in Ayutthaya disrupted operations.

Revenues were hit hard, with camera revenue tumbling the most by 45% on-year to RM16.4 million, while HDD revenue fell 35% to RM13.6 million.

However, the weak result was within its and street expectations. Notion also booked RM5.5 million provisional loss after insurance claims for damaged inventories, plant & equipment.

These caused EBITDA margins to shrink to 11.8% vs 1QFY11’s 41.1%. Separately, Notion VTec announced a three-for-four bonus issue and one-for-four free warrant issue, which would take fully diluted paid-up share capital to RM185.2 million comprising 370.4 million shares, assuming full exercise of its 30.7 million outstanding warrants, implying 11.7 sen FY12F diluted EPS.

Notion Vtec’s Thai plant is expected to resume normal operations by June. Hence, earnings should improve in FY12, underpinned by: (i) higher average selling prices for HDD components given the supply deficit; (ii) additional three Japanese HDD customers; and (iii) the camera segment resuming normal operations by next month. We are retaining our forecasts pending a briefing later this morning.

“The stock has run-up following a series of positive news, but Notion’s exposure to a rapidly recovering HDD sector has yet to be priced in. Our RM2.10 TP is pending review,” it said.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

HDBSVR: Market may advance slowly amid positive foreign news

KUALA LUMPUR (Feb 21): HwangDBS Vickers Research (HDBSVR) said the Malaysian stock market may continue to climb slowly and steadily amid positive foreign news flows on Tuesday.

“The benchmark FBM KLCI will probably advance towards the immediate resistance target of 1,580 ahead,” it said.

HDBSVR said while Wall Street was on holiday yesterday, most European stock markets rose overnight. Essentially, investors remained confident that the eurozone finance ministers would be able to wrap up talks for Greece to meet certain conditions in exchange for international bailout funds.

At Bursa Malaysia, stocks which could see trading interest are Mitrajaya Holdings, which has secured the awards of 3 CONSTRUCTION [] projects (to build LRT stations and apartments) worth RM182 million.

Also in focus is Nilai Resources Group, in response to a selective capital reduction and repayment proposal made by its major shareholder at a cash offer price of RM1.50 per share (versus its current share price of RM1.30).

Notion VTec could see trading interest after proposing a three-for-four bonus issue and an issuance of free warrants on the basis of one warrant for every four existing shares held prior to the bonus issue.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Stocks to watch: Affin, Sarawak Plantations, Mitrajaya, Nilai Resources, Notion VTec

KUALA LUMPUR (Feb 21): As the corporate reporting season picks up pace, there seem to be a mixed bag of results, with banks and PLANTATION []s providing slight upside compared with the other sectors.

AFFIN HOLDINGS BHD []’s earnings rose 4.7% to RM132.54 million in the quarter ended Dec 31, 2011 from RM126.57 million a year ago. Its revenue increased by 14.4% to RM709.81 million from RM620.54 million. Earnings per share were 8.87 sen compared with 8.47 sen.

For the financial year ended Dec 31, 2011, the banking group said it recorded its best ever performance so far, with record profit before tax (PBT) of RM709.1 million compared with RM637.5 million in 2010. This was a RM76.1 million or 11.2% increase.

SARAWAK PLANTATION BHD [] posted net profit of RM19.66 million in the fourth quarter ended Dec 31, 2011, up 139% from the RM34.35 million a year ago when there was impairment losses of RM10.60 million. Revenue fell 3.4% to RM111.62 million from RM115.61 million a year ago. Its administrative expenses declined to RM8.83 million from RM18.60 million

For FY11, Affin said the earnings rose 139% to RM82.24 million from RM34.35 million. Revenue increased by 40.6% to RM479.36 million from RM340.83 million following the increase of revenue from the oil palm operations segment.

MITRAJAYA HOLDINGS BHD [] has secured three projects valued at RM181.55 million, of which two are for the light rail transit (LRT) contracts and one for a housing project in Putrajaya.

The major shareholders of Nilai Resources Group Bhd have proposed a selective capital repayment (SCR) of RM1.50 a share, which is a premium of 20 sen above the Feb 17 closing price of RM1.30.

The major shareholders are Akarmas Sdn Bhd and Tan Sri Dr Gan Kong Seng who collectively hold 62.937 million shares or 55.1% equity, who will not be entitled to the SCR.

NOTION VTEC BHD [] has proposed a bonus issue of up to 138.91 million new shares on the basis of three bonus shares for every four existing shares held.

It reported net losses of RM4.83million in the first quarter ended Dec 31, 2011 compared with net profit of RM13.41 million a year ago. Its revenue fell 33.9% to RM39.63 million from RM59.98 million. Its loss per share was 3.13 sen compared with earnings per share of 8.79 sen.

ESSO MALAYSIA BHD []’s earnings fell 71.5% to RM34.58 million in the fourth quarter ended Dec 31, 2011 from RM121.51 million a year ago. Its revenue was 16.5% higher at RM2.75 billion compared with RM2.359 billion a year ago. Earnings per share were 12.80 sen compared with 45 sen.

For the financial year ended Dec 31, 2011, it reported a 42.9% decline in earnings to RM153.35 million from RM268.58 million in FY10. Revenue, however, increased 33.6% to RM11.26 billion from RM8.42 billion.

POS MALAYSIA BHD [] recorded net profit of RM25.06 million in the October-December quarter in 2011 compared with RM6.08 million a year ago mainly due to a provision of investment and a one-off impairment provision. It said revenue increased by 4.4% to RM289.63 million from RM277.33 million.

In the 12-month period from January to December 2011, its earnings rose about 66.8% to RM112 million from RM67.11 million. Its revenue increased 15.6% to RM1.173billion from RM1.014 billion.

The group’s profit from operations rose 38.2% to RM146.0 million (2010: RM105.7 million) for the period ended Dec 31, 2011, due to the full year impact of domestic tariff increase commencing July 1, 2010 coupled with the benefits realized from transformation initiatives.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.