KLCI stays in the black at mid- day break

KUALA LUMPUR (May 8): The FBM KLCI reversed its earlier losses and stayed in positive territory at the mid-day break on Tuesday, in line with most key regional markets that shrugged off jitters from a day earlier following election results in Greece and France.

The FBM KLCI added 2.75 points to 1,587.62 at the mid-day break, lifted by gains at select blue chips.

Gainers outpaced losers by 302 to 272, while 332 counters traded unchanged. Volume was 620.94 million shares valued at RM467.71 million.

The ringgit strengthened 0.01% to 3,0543 versus the US dollar; crude palm oil futures rose RM28 per tonne to RM3,374, crude oil shed two cents per barrel to US$97.92 and gold fell US$1.63 an ounce to US$1,636.93.

Shares recovered on Tuesday from the previous day's plunge, as sentiment improved on hopes Spain would use public funds to bolster its struggling banks, although persistent wariness over Greece weighed on the euro, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent, having slid more than 2 percent the day before for its worst daily fall in about five months and hitting its lowest in about three months, it said.

At the regional markets, Japans’ Nikkei 225 gained 0.68% to 9,180.87, South Korea’s Kospi added 0.50% to 1,966.13, Singapore’s Straits Times Index was up 0.42% to 2,937.16 and Taiwabn’s Taiex edged up 0.13% to 7,548.19.

Meanwhile, the Shanghai Composite Index lost 0.65% to 2,435.90 and Hong Kong’s Hang Seng Index shed 0.05% to 20,525.90.

On Bursa Malaysia, BAT was the top gainer and rose 70 sen to RM55.86, Kulim 24 sen to RM4.48, Tasek 20 sen to RM9.23, Ekovest 17 sen to RM2.65, MSM 16 sen to RM5.34, Atlan 13 sen to RM4.39, Tong Herr and Permaju 11 sen each to RM2.51 and 84 sen, whiel Nakamichi and Multico added 10 sen each to 76 sen and RM1.25.

Menawile, Genting rose eight sen to RM10.64, Genting PLANTATION []s six sen to RM9.50 and Petronas Chemicals up three sen to RM6.58.

TMS was the most actively traded counter with 41.34 million shares done. The stock added half a sen to 9.5 sen.

Other actives included Sanbumi, Ariantec, JCY, Permaju, Naim Indah Corp and Metronic.

Decliners in the morning session included Jaya Tiasa, Toyo Ink, Lafarge Malayan Cement, PPB, JCY, Sarawak Oil Palms, IJM Land, MMHE, Texchem and OIB.



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Asian markets mired in red as Europe stumbles

KUALA LUMPUR (May7): The FBM KLCI fell on Monday as Asian markets were mired in the red as European markets stumbled following election outcomes in France, Greece and Italy that raised concerns on whether euro zone economies will continue to pursue austerity measures.

Meanwhile, European equities slumped to 4-1/2 month lows on Monday after elections in France and Greece that reflected deep public discontent over austerity measures and cast doubt over the euro zone's ability to fix its debt crisis, according to Reuters.

Greece's benchmark stock index fell by more than 7 percent in early morning trading on Monday, after the country's main parties failed to win enough votes to form a ruling coalition following elections on Sunday, it said.

Royal Bank of Scotland strategists in a note Monday said the results of a number of elections across Europe that took place over the weekend were likely to keep the market squarely focused on politics this week, and on the results implications for the European policy response devised to address the debt crisis so far.

The FBM KLCI fell 6.71 points to 1,584.87 at 5pm, weighed by losses at select blue chips.

Market breadth was negative with 540 losers, 208 gainers and 305 counters trading unchanged. Volume was 963.02 million shares valued at RM1.19 billion.

At the regional markets, Japan’s Nikkei 225 lost 2.78% to 9,119.14, Hong Kong’s Hang Seng Index lost 2.61% to 20,536.65, Taiwan’s Taiex fell 2.11% to 7,538.08, South Korea’s Kospi was down 1.64% to 1,956.44 and Singapore’s Straits Times Index lost 2.08% to 2,928.34.

On Bursa Malaysia, Dutch Lady was the top loser and fell 34 sen to RM33.04, Tradewinds PLANTATION []s lost 23 sen to RM5.75, Tradewinds down 22 sen to RM9.82, SAM Engineering 19 sen to RM3.01, Hong Leong Bank, Genting Plantations and IJM Corp lost 16 sen each to RM12.20, RM9.44 and RM5.42 respectively, Allianz and Tahps down 15 sen each to RM4.60 and RM4.65, while Atlan fell 14 sen to RM4.26.

SAAG was the most actively traded counter with 48.97 million shares done. The stock gaindd half a sen to 7 sen.

Other actives included Ariantec, Time, Maybulk, Benalec, KFCH, Metronic, permaju, Naim Indah Corp and JCY.

Meanwhile, the gainers on Monday included Permaju, Country View, PMB Tech, Tasek, GAB, Lafarge Malayan Cement, MKH, KESM, Nestle and HLFG.



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BCorp to gain access to Atlan’s prime tracts in Penang

KUALA LUMPUR (May 4) : Berjaya Corp Bhd’s (BCorp) proposed acquisition of an associate stake in diversified entity ATLAN HOLDINGS BHD [] could give the buyer access into prime tracts in Penang.

A glance at Atlan’s annual report indicates that the firm ,the businesses of which, include duty-free goods trading, automotive components production, besides real estate and hotel operations, owns prime freehold land in Penang’s north eastern enclave.

These tracts have a combined area of 1.17 sq metres with a net book value of RM38 million, Atlan's annual report shows.

Conglomerate BCorp via subsidiary BERJAYA LAND BHD [] (Bland) is making inroads into the Penang real estate market after an over 20-year hiatus. BLand made news in August last year when it acquired a 23ha (57.3 acre) portion of the Penang Turf Club (PNTC) tract for RM459 million.

Berjaya group chairman Tan Sri Vincent Tan had said then that the conglomerate planned to develop RM1.52 billion worth of residential units on the PNTC tract.

BCorp announce to the exchange on Thursday that it is raising its stake to about 25% in Atlan via a purchase of 40 million shares or 15.8% of Atlan’s issued base from Cipta Nirwana (M) Sdn Bhd. The buyer intends to pay RM170 million or RM4.25 a share for the purchase.

According to BCorp, it already owns 9.18% in Atlan, of which, a 7.9% portion was acquired via off-market deals for RM85 million or RM4.25 a share.

The market had responded positively to BCorp’s latest move. The stock rose as much as 2.5% or two sen to 82.5 sen on Friday before settling lower at 82 sen for lunch break with some four million shares done.



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KLCI struggles, key regional markets advance

KUALA LUMPUR (Feb 28): Blue chips closed lower on Tuesday, weighed down by losses in Petronas Chemicals, Axiata and Tenaga, as the FBM KLCI struggled to breach the 1,560 level, in contrast with the firmer key regional markets.

The 30-stock KLCI closed down 2.31 points or 0.15% lower at 1,556.73 from a high of 1,562.42. Turnover was 1.73 billion shares valued at RM1.589 billion. Losers beat gainers 511 to 309, while 309 counters were traded unchanged.

The performance of the local stock market was a contrast to the positive sentiment at the key regional markets.

Shanghai's Composite Index rose 0.20% to 2,451.86, Hong Kong's Hang Seng 1.65% to 21,568.73, Japan's Nikkei 225 up 0.92% to 9,722.52, Singapore's Straits Index 0.73% to 2,968.27, South Korea's Kospi 0.63% to 2,003.69 and Taiwan’s Taiex 0.28% to 7,959.34.

Reuters reported that the European Central Bank's upcoming cash boost for banks supported the euro and shares but some investors are worried the benefits of the cheap money will be short lived.

At Bursa Malaysia, Petronas Chemicals fell 10 sen to RM6.80, dragging the KLCI down 1.01 points and Axiata shed five sen to RM5.10, pushing the KLCI down by one point. Losses in TNB, where the power giant’s share price fell five sen to RM6.30, shaved 0.64 of a point of the index.

Tenaga president and CEO Datuk Seri Che Khalib Mohamad Noh said he expected the power giant to perform better in the second quarter ended Feb 29, 2012 as it would receive RM2 billion in compensation from Petroliam Nasional Bhd and the government under a fuel cost-sharing mechanism.

Losers included JTI, down 25 sen to RM6.91 as investors were disappointed over the absence of a dividend payout. Sarawak Oil Palm fell 17 sen to RM6.

China Stationery Limited continued its strong performance post-IPO to be one of the most active and among top gainers after closing up 16 sen to RM1.39, with 84.98 million shares traded in.

Dutch Lady rose RM1.48 to RM28.98, Atlan 32 sen to RM3.47, Hong Leong Industries up 21 sen to RM4.20 while Hong Leong Bank and Carlsberg added 20 sen to RM11.90 and RM9.90 respectively.



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Atlan drops on lower Q3 net income

Atlan Holdings Bhd, a maker of stamped-metal components and duty-free retailer, declined 1 per cent to RM2.93, on course for its lowest close since February 25, 2010.

Third-quarter net income dropped 10 per cent to RM8.3 million (US$2.7 million) from a year earlier, the company said in a stock exchange filing. - Bloomberg



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Atlan 3Q net profit dips 9.9% to RM8.33m

KUALA LUMPUR (Jan 12): ATLAN HOLDINGS BHD [] net profit for the third quarter ended Nov 30, 2011 fell 9.9% to RM8.33 million from RM9.25 million a year earlier, mainly due to lower revenue in the duty free segment.

The company said on Thursday that its revenue for the quarter dipped 5.35% to RM177.57 million from RM187.63 million in 2010.

Earnings per share fell to 3.31 sen from 3.67 sen a year earlier, while net assets per share was RM1.60.

Atlan said that its net profit for the nine months ended Nov 30 surged to RM109.61 million from RM49.31 million in 2010, due mainly to the gain on disposal of land by two wholly-owned subsidiaries of the company in the quarter ended May 31, 2011.

Revenue for the nine months dipped to RM527.39 million from RM539.15 million.

Reviewing its performance, Atlan said the drop in revenue for the current quarter and year-to- date was mainly due to the lower revenue from the duty free segment, as the prolonged flooding in Thailand had adversely affected the performance of the duty free outlets located in the northern region of Peninsular Malaysia.

On its prospects, Atlan said barring unforeseen circumstances, the company was expected to continue to perform positively.



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