Stocks to watch: BToto, Lysaght, Bumi Armada, MHC Plantations

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.



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Lysaght gets subcontracts worth RM22.75m from YTL unit

KUALA LUMPUR (March 21): Lysaght Galvanized Steel Bhd’s wholly owned unit has been awarded four subcontracts by Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd to supply and install antenna poles.

It said on Wednesday that a subcontract agreement would be entered between Lysaght Marketing Sdn Bhd and Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd at a later date.

Lysaght said the estimated date of completion was within 177 days to 206 days from the date of commencement.

It said the Subcontracts were expected to contribute positively to the earnings and net assets of LGS group for the financial year ending 2012.

It said the subcontracts would be financed by internally generated funds.



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Tenaga, Sime power KLCI higher

KUALA LUMPUR (March 8): Key regional markets snapped out of their losing streak on Thursday, with all indices in positive territory including Bursa Malaysia’s FBM KLCI, as investors pinned their hopes on Greece avoiding a default and the promising jobs data from the US.

At 12.30pm, the FBM KLCI was up 3.28 points to 1,578.11, underpinned by gains in Tenaga and Sime Darby again. Turnover was 969.98 million shares valued at RM775.44 million. There were 333 gainers, 277 losers and 321 stocks unchanged.

The ringgit was firmer against the US dollar at 3.0157 vs 3.0292 overnight. Brent crude was steady above US$124 a barrel while US light crude added 18 cents to US$106.34.

The Nikkei 225 rose 1.4% to 9,709.68, Hang Seng Index 0.9% to 20,813.40, Shanghai Composite Index 1.04% to 2,419.68, and Singapore’s Straits Times Index 1.21% higher at 2,948.87.

Reuters reported Greece has set a Thursday 2000 GMT deadline for investors to sign up to a debt restructuring designed to trim 100 billion euros off the country's public debt.

News that Japan's economy shrank less than initially estimated in the fourth quarter, as companies ramped up spending, also supported oil prices. The revision to GDP showed a 0.2 percent contraction as companies look to an increase in demand due to reCONSTRUCTION [] of the country's tsunami-battered northeast coast.

In the United States, data showed an accelerated pace of job creation in the private sector in February, raising optimism about Friday's government employment report for that month. The private sector added 216,000 jobs last month, according to the ADP National Employment Report, topping economists' expectations for a gain of 208,000, and raising hopes the labour market recovery was moving at a faster clip.

At Bursa Malaysia, Nestle was the top gainer, up 24 sen to RM56.24, Carlsberg 10 sen to RM10.50 and Dutch Lady eight sen to RM29.98.

Crude palm oil futures rose RM19 to RM3,278 per tonne. Among PLANTATION []s, Sungei Bagan added 12 sen to RM3 and United Plantations eight sen to RM24.48.

The gains on the KLCI were driven by Tenaga and Sime Darby, which pushed the index up 0.896 of a point and 0.852 of a point respectively. Tenaga rose seven sen to RM6.26 and Sime six sen to RM9.86.

Among the banks, CIMB added four sen to RM7.35, Public Bank two sen to RM13.76 while GENTING BHD [] added eight sen to RM10.82 and Genting Malaysia three sen to RM3.86.

Naim Indah Corp was the most active again, up 4.5 sen to 70 sen to 252.37 million shares done and accounted for about one-quarter of the trading volume.

China Stationery Ltd lost six sen to RM1.04 in active trade. It had surged to a high of RM1.39 on Feb 28 after its listing on Feb 24 at an offer price of 95 sen.

Lysaght was the top loser, down 20 sen to RM2.29 while Berjaya Media shed 8.5 sen to 45.5 sen and HLFG eight sen to RM12.02.



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KLCI stages slight rebound at mid-morning

KUALA LUMPUR (March 8): The FBM KLCI ticked upward at mid-morning on Thursday, in line with the gains at key regional markets following the firmer overnight close at Wall Street and European markets.

Asian shares and the euro recovered on Thursday on brightening prospects for Greece to secure a crucial bond swap to avoid a messsy default and U.S. data suggesting a recovery in the labour market ahead of key jobs figure, according to Reuters.

Greece's debt swap deal and Friday's U.S. nonfarm payrolls data are seen as a test case for gauging whether markets can build on the optimism of recent months and overcome patchy growth figures which have dented sentiment, it said.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Thursday said that despite the US market’s rebound last night, the local bourse could be in for a range-bound day.

“From the 1,310.53 low (Sept 2011), the market burst past its 1,530.73 resistance to stall just short of the 1,596.08 all-time high, at 1,594.72.

“Bearish divergence is ample and despite the DJIA’s overnight rebound, today’s minor rise could be a great opportunity to selli in the initial “Dead Cat BOUnce”, he said.

Lee said some of the trading stocks favoured by Maybank IB Research included BUMI Armada, Brahims, Dayang, JOHORe Tin, Telekom and Zelan.

On Bursa Malaysia, the FBM KLCI edged up 2.66 points to 1,577.49 at 10.30am, lifted by gains at select blue chips.

Gainers led losers by 166 to 270, while 271 counters traded unchanged. Volume was 480.79 million shares valued at RM338.90 million.

At the regional markets, Japan’s Nikkei rose1.06% to 89677.5, HONG KONG’s Hang Seng Index adde 0.47% to 20,725.00, the Shanghai Composite Index gained 0.61% to 2,409.44, Taiwan’s Taiex added 0.29% to 7,926.16, South Korea’s Kospi edged up 0.09% to 1,983.97 and Singapore’s Straits Times Index up 0.78% to 2,935.94.

Among the gainsrs, SPK added 11.5 sen tp 41.5 sen, Sungei Bagan up 11 sen to RM2.99, Carlsberg, Takaful and Petronas Gas up 10 sen each to RM10.50, RM2.28 and RM16.82 respectively, Sime Darby up nine sen to RM9.89, United PLANTATION []s, TONG Herr eight sen each to RM24.48 and RM2.44, while Orient rose seven sen to RM6.35.

Naim Indah CORP was the most actively traded counter with 131.1 milliion shares done. The stock fell one sen to 64.5 sen.

Other actives included HWGB shares and warrants, IRios Corp, Asia Media, Winsun, CSL< IFCA MSC and Gocean.

Among the decliners this morning, LYsaght fell 32 sen to RM2.08, HONG Leong Bank and KLK dow eight sen each to RM12.30 and RM23.20, Perduren 5.5 sen to 75 sen, Sunchirin, Merge, NOTion warrants, Tecnic and CBIP added four sen each to RM1.36, 23 sen, 42.5 sen, RM3.68 and RM2.43 respectively.



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KLCI dips on mild profit taking, lags regional markets

KUALA LUMPUR (Jan 27): The FBM KLCI fell on Friday, and lagged key regional markets as mild profit taking chipped off some of the previous day’s gains.

The FBM KLCI closed 2.96 points lower at 1,520.90, weighed by losses at select blue chips.

Gainers led losers by 459 to 370, while 292 counters traded unchanged. Volume was 2.28 billion shares valued at RM1.85 billion.

At the regional markets, Hong Kong’s Hang Seng Index rose 0.31% to 20,501.67, South Korea’s Kospi gained 0.39% to 1,964.83 and Singapore’s Straits Times Index rose 0.75% to 2,916.26, while Japan’s Nikkei 225 fell 0.09% to 8,841.22.

The China and Taiwan stock markets are closed for the Chinese New Year holidays.

Meanwhile, European shares retreated from a six-month high on Friday, in a mild technical pullback after the previous session's strong rally and with Greek debt talks still firmly in focus, although equities still remain on course for their sixth week of gains, according to Reuters.

On Bursa Malaysia, HLFG lost 36 sen to RM11.90, Genting PLANTATION []s down 15 sen to RM9.50, Warisan, MPI and CIMB fell 11 sen each to RM2.55, RM3.58 and RM6.86 respectively, while Sunchirin, NCB, Metrod and Yinson lost 10 sen each to RM1.65, RM3.90, RM1.95 and RM1.98 respectively.

Among the gainers, Bintulu Port added 32 sen to RM7, Boxpak up 28 sen to RM2.64, IJM Corp 25 sen to RM5.70, Lysaght 23 sen to RM1.90, Eng Kah 22 sen to RM3.50, Hartalega, DRB-Hicom and Maybulk gained 21 sen each to RM6.90, RM2.71 and RM2.65, while Southern Acids added 19 sen to RM2.40.

The actives included TMS, Compugates, DRB-Hicom, Karyon, DBE Gurney and Maybulk.



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KLCI tapers down as regional markets slip

KUALA LUMPUR (Nov 8): The FBM KLCI gave up most of its gains on Tuesday, Nov 8 as most key regional markets turned red on some mild profit taking, with persistent concern over Europe's debt crisis keeping investors cautious.

The FBM KLCI tapered down in the afternoon session and closed 0.20% or only 2.95 points higher at 1,480.46.

The index had earlier climbed to its intra-day high of 1,489.91.

Gainers led losers by 408 to 329, while 279 counters traded unchanged. Volume was 1.81 billion shares valued at RM1.54 billion.

At the regional markets, Japan’s Nikkei 225 fell 1.27% to 8,655.51, South Korea’s Kospi lost 0.83% to 1,903.14, Taiwan’s Taiex slipped 0.27% to 7,600.79 and the Shanghai Composite Index shed 0.24% to 2,503.84.

Meanwhile, Singapore’s Straits Times Index rose 0.64% to 2,866.52 and Hong Kong’s Hang Seng Index ended flat at 19,678.47.

On Bursa Malaysia, DiGi was the top gainer and rose 70 sen to RM34; F&N added 38 sen to RM17.52, Harvest Court 30.5 sen to RM1.18,Malaysia Smelting Corp 23 sen to RM4.20, Dutch Lady 22 sen to RM20.50, United PLANTATION []s, KLK and DKSH added 20 sen each to RM17.58, RM21.20 and RM2.10 respectively, while Favelle Favco added 19 sen to RM1.28.

Among the decliners, Nestle lost 50 sen to RM49.50, Cocoaland fell 20 sen to RM2, Parkson 14 sen to RM5.50, Shell 10 sen to RM9.50, Aeon and Lysaght lost nine sen each to RM7 and RM1.69, while Tahps, Ann Joo, KPJ and Panasonic fell eight sen each to RM4.15, RM2.02, RM4.03 and RM19.12 respectively.

The actives included Karambunai, Sanichi, Hibiscus, JCY, Palette, Focus and Compugates.