KUALA LUMPUR (Jan 4): Stocks on Bursa Malaysia could open on a firmer note on Wednesday as sentiment would be underpinned by firmer external events.
Overnight on Tuesday, the Dow Jones industrial average rose 179.82 points, or 1.47 percent, to 12,397.38. The S&P 500 Index added 19.46 points, or 1.55 percent, to 1,277.06. The Nasdaq Composite gained 43.57 points, or 1.67 percent, to 2,648.72.
The US market's rise was foreshadowed by a large jump in stock index futures after weekend data showed China, the world's largest consumer of metals, avoided economic contraction in December.
Though the FBM KLCI closed down 1.12% or 17.19 points to 1,513.54 on Tuesday, weighed by losses at banking and key blue chips, the broader market was steadier with gainers leading losers by 446 to 325.
Wall Street opened higher as better-than-expected Chinese and German data boosted optimism about the global economy, according to Reuters.
Among the stocks which could see trading interest are MALAYAN BANKING BHD [], OSK VENTURES INTERNATIONAL BHD [] (OSKVI), LBS Bina Bhd and MAXBIZ CORPORATION BHD [].
Maybank has been given a further extension until June 1, 2012 to sell down its stake in PT Bank Internasional Indonesia Tbk (BII).
Maybank had received a letter, dated Dec 27, from Indonesia’s Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam) where the latter had given it more time to undertake the corporate exercise. Maybank owns 97.5% of BII which it had acquired in 2008.
OSK HOLDINGS BHD [] director Ong Leong Huat @ Wong Joo Hwa has been buying shares of OSK Ventures International Bhd. He bought 930,000 shares on Dec 27 at 31 sen a piece and 600,000 shares the next day at an average price of 30.1 sen.
The recent acquisitions raised his direct shareholding in OSKVI to 25.86% or 50.62 million shares.
LBS BINA GROUP BHD [] is targeting RM1 billion annual property sales target in the near term as the company focuses on the various segments of the residential market apart from commercial and industrial PROPERTIES [].
Managing director Datuk Lim Hock San said LBS was expected to achieve property sales of RM800 million and RM 950 million in the financial year ending Dec 2012 and 2013 respectively.
Maxbiz has received a letter of intent (LOI) in respect of a fibre-to-the-home and fibre-to-the-office (FTTX) contract worth RM510 million.
The company had received the LOI from Fiber-N Sdn Bhd on Dec 30, 2011 for the infrastructure works for 100,000 FTTX connections on high rise residential and office buildings in Klang Valley, Penang and Johor Bahru.
ESTHETICS INTERNATIONAL GROUP [] Bhd’s rights issue of 52.80 million new shares and 52.80 million free detachable warrants were undersubscribed by 28%.
Overnight on Tuesday, the Dow Jones industrial average rose 179.82 points, or 1.47 percent, to 12,397.38. The S&P 500 Index added 19.46 points, or 1.55 percent, to 1,277.06. The Nasdaq Composite gained 43.57 points, or 1.67 percent, to 2,648.72.
The US market's rise was foreshadowed by a large jump in stock index futures after weekend data showed China, the world's largest consumer of metals, avoided economic contraction in December.
Though the FBM KLCI closed down 1.12% or 17.19 points to 1,513.54 on Tuesday, weighed by losses at banking and key blue chips, the broader market was steadier with gainers leading losers by 446 to 325.
Wall Street opened higher as better-than-expected Chinese and German data boosted optimism about the global economy, according to Reuters.
Among the stocks which could see trading interest are MALAYAN BANKING BHD [], OSK VENTURES INTERNATIONAL BHD [] (OSKVI), LBS Bina Bhd and MAXBIZ CORPORATION BHD [].
Maybank has been given a further extension until June 1, 2012 to sell down its stake in PT Bank Internasional Indonesia Tbk (BII).
Maybank had received a letter, dated Dec 27, from Indonesia’s Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam) where the latter had given it more time to undertake the corporate exercise. Maybank owns 97.5% of BII which it had acquired in 2008.
OSK HOLDINGS BHD [] director Ong Leong Huat @ Wong Joo Hwa has been buying shares of OSK Ventures International Bhd. He bought 930,000 shares on Dec 27 at 31 sen a piece and 600,000 shares the next day at an average price of 30.1 sen.
The recent acquisitions raised his direct shareholding in OSKVI to 25.86% or 50.62 million shares.
LBS BINA GROUP BHD [] is targeting RM1 billion annual property sales target in the near term as the company focuses on the various segments of the residential market apart from commercial and industrial PROPERTIES [].
Managing director Datuk Lim Hock San said LBS was expected to achieve property sales of RM800 million and RM 950 million in the financial year ending Dec 2012 and 2013 respectively.
Maxbiz has received a letter of intent (LOI) in respect of a fibre-to-the-home and fibre-to-the-office (FTTX) contract worth RM510 million.
The company had received the LOI from Fiber-N Sdn Bhd on Dec 30, 2011 for the infrastructure works for 100,000 FTTX connections on high rise residential and office buildings in Klang Valley, Penang and Johor Bahru.
ESTHETICS INTERNATIONAL GROUP [] Bhd’s rights issue of 52.80 million new shares and 52.80 million free detachable warrants were undersubscribed by 28%.
