KUALA LUMPUR (May 3): The FBM KLCI could face a struggle to eke out some gains on Friday, as investor sentiment could take a hit by external factors that have plagued global equity markets over the week.
European stocks slipped into negative territory on Thursday after a weaker-than-expected U.S. service sector data cast doubts over the strength of the recovery in the world's biggest economy, according to Reuters.
Most global equity markets trended lower on Thursday after the S&P 500 and the Dow edged lower on Wednesday as data showed that private sector hiring fell far more than expected in April, sparking concerns that Friday's U.S. jobs report will also disappoint investors, according to Reuters.
Among the stocks that could be in focus on Bursa Malaysia on Friday are Fajarbaru, Pharmaniaga, Tasco, Quill Capita, New Hoong Fatt, APFT, MAS and AirAsia.
Fajarbaru Builder Group Bhd has secured a sub-contract worth RM299.84 million to build a power substation from MALAYSIAN RESOURCES CORP []oration Bhd .
The company said on Thursday that its unit Fajarbaru Builder Sdn. Bhd had received a letter of acceptance to build the Kg Kuala Sungai Baru substation and other associated works for the Ampang (AMG) Line Extension project.
PHARMANIAGA BHD [] says first quarter net profit rose 85% from a year earlier as revenue growth mitigated the impact of higher operating cost, besides finance and tax expenses.
In a statement to the exchange, Pharmaniaga said net profit came to RM28.69 million in the quarter ended March 31, 2012 versus RM15.48 million previously as revenue grew 16% to RM446.75 million from RM385.33 million.
The firm said it plans to pay a first interim single-tier dividend of 7.5 sen a share for financial year ending December 31, 2012. Conglomerate BOUSTEAD HOLDINGS BHD [] owns some 72% in Pharmaniaga.
Tasco Bhd net profit for the first quarter ended March 31, 2012 rose 4.6% to RM6.76 million from RM6.46 million a year earlier, due to better margins from its air freight forwarding division arising from urgent export shipments.
The company said on Thursday that its revenue for the quarter edged lower to RM117.89 million from RM118.36 million in 2011.
QUILL CAPITA TRUST [], a commercial and industrial-based real estate investment trust says first quarter net profit rose 5% from a year earlier, helped by higher revenue and lower operating expenses.
In a statement to the exchange, Quill said net profit came to RM8.07 million in the quarter to March 31, 2012 from RM7.68 million previously while revenue was up 2% to RM17.78 million from RM17.51 million.
NEW HOONG FATT HOLDINGS BHD [] net profit for the first quarter ended march 31, 2012 fell 42.1% to RM4.1 million from RM7.08 million a year earlier, due mainly to increased in manufacturing and operating costs as well as higher foreign exchange loss.
The company said on Thursday that its revenue for the quarter edged up 0.6% to RM54.02 million from RM53.71 million in 2011 due to higher demand for export sales.
APFT Bhd’s unit Asia Pacific Flight Training Sdn Bhd (APFTSB), has signed a five-year MPL Services Agreement with Canada-based CAE Inc (CAE) on the Multi-crew Pilot License (MPL) training for AirAsia cadets.
In a statement to Bursa Malaysia on Thursday, A PFT said this was the first and only MPL training in Malaysia.
it said that previous batches of AirAsia CAE MPL cadets were trained in Canada.
Meanwhile, shares of MALAYSIAN AIRLINE SYSTEM BHD [] and AIRASIA BHD [] could extend their gains from Thursday after the airlines said they had entered into a Supplemental Agreement to vary the terms and scope of the original collaboration agreement inked last August.
The share-swap last August saw AirAsia’s Tan Sri Tony Fernandes and his partner Datuk Kamarudin Meranun taking up a 20.5% interest in MAS and two board positions, in exchange for Khazanah owning a 10% stake in the regional budget airline.
The airlines said on Wednesday that pursuant to the Supplemental Agreement, they had separately entered into memorandums of understanding (MoU) in respect of firstly, to jointly explore the setting up of the joint-venture company by MAS, AirAsia and AAX to provide aircraft component maintenance support and repair services.
European stocks slipped into negative territory on Thursday after a weaker-than-expected U.S. service sector data cast doubts over the strength of the recovery in the world's biggest economy, according to Reuters.
Most global equity markets trended lower on Thursday after the S&P 500 and the Dow edged lower on Wednesday as data showed that private sector hiring fell far more than expected in April, sparking concerns that Friday's U.S. jobs report will also disappoint investors, according to Reuters.
Among the stocks that could be in focus on Bursa Malaysia on Friday are Fajarbaru, Pharmaniaga, Tasco, Quill Capita, New Hoong Fatt, APFT, MAS and AirAsia.
Fajarbaru Builder Group Bhd has secured a sub-contract worth RM299.84 million to build a power substation from MALAYSIAN RESOURCES CORP []oration Bhd .
The company said on Thursday that its unit Fajarbaru Builder Sdn. Bhd had received a letter of acceptance to build the Kg Kuala Sungai Baru substation and other associated works for the Ampang (AMG) Line Extension project.
PHARMANIAGA BHD [] says first quarter net profit rose 85% from a year earlier as revenue growth mitigated the impact of higher operating cost, besides finance and tax expenses.
In a statement to the exchange, Pharmaniaga said net profit came to RM28.69 million in the quarter ended March 31, 2012 versus RM15.48 million previously as revenue grew 16% to RM446.75 million from RM385.33 million.
The firm said it plans to pay a first interim single-tier dividend of 7.5 sen a share for financial year ending December 31, 2012. Conglomerate BOUSTEAD HOLDINGS BHD [] owns some 72% in Pharmaniaga.
Tasco Bhd net profit for the first quarter ended March 31, 2012 rose 4.6% to RM6.76 million from RM6.46 million a year earlier, due to better margins from its air freight forwarding division arising from urgent export shipments.
The company said on Thursday that its revenue for the quarter edged lower to RM117.89 million from RM118.36 million in 2011.
QUILL CAPITA TRUST [], a commercial and industrial-based real estate investment trust says first quarter net profit rose 5% from a year earlier, helped by higher revenue and lower operating expenses.
In a statement to the exchange, Quill said net profit came to RM8.07 million in the quarter to March 31, 2012 from RM7.68 million previously while revenue was up 2% to RM17.78 million from RM17.51 million.
NEW HOONG FATT HOLDINGS BHD [] net profit for the first quarter ended march 31, 2012 fell 42.1% to RM4.1 million from RM7.08 million a year earlier, due mainly to increased in manufacturing and operating costs as well as higher foreign exchange loss.
The company said on Thursday that its revenue for the quarter edged up 0.6% to RM54.02 million from RM53.71 million in 2011 due to higher demand for export sales.
APFT Bhd’s unit Asia Pacific Flight Training Sdn Bhd (APFTSB), has signed a five-year MPL Services Agreement with Canada-based CAE Inc (CAE) on the Multi-crew Pilot License (MPL) training for AirAsia cadets.
In a statement to Bursa Malaysia on Thursday, A PFT said this was the first and only MPL training in Malaysia.
it said that previous batches of AirAsia CAE MPL cadets were trained in Canada.
Meanwhile, shares of MALAYSIAN AIRLINE SYSTEM BHD [] and AIRASIA BHD [] could extend their gains from Thursday after the airlines said they had entered into a Supplemental Agreement to vary the terms and scope of the original collaboration agreement inked last August.
The share-swap last August saw AirAsia’s Tan Sri Tony Fernandes and his partner Datuk Kamarudin Meranun taking up a 20.5% interest in MAS and two board positions, in exchange for Khazanah owning a 10% stake in the regional budget airline.
The airlines said on Wednesday that pursuant to the Supplemental Agreement, they had separately entered into memorandums of understanding (MoU) in respect of firstly, to jointly explore the setting up of the joint-venture company by MAS, AirAsia and AAX to provide aircraft component maintenance support and repair services.
