Stocks to watch Fajarbaru, Pharmaniaga, Tasco, Quill Capita, New Hoong Fatt, APFT, MAS, AirAsia

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.



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New Hoong Fatt 1Q net profit falls 42.1% to RM4.1 million

KUALA LUMPUR (May 3): 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.

Earnings per share was 5.45 sen compared to 9.42 sen a year earlier, while net assets per share was RM3.90.

On its prospects, New Hoong Fatt said it expects 2012 to be another challenging year as the global economic outlook is expected to remain uncertain, and the uncertainties will further drive volatility in commodity costs.

“The Group is optimistic that it will continue its positive performance in the current financial year,” it said.



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New Hoong Fatt posts lower pre-tax profit of RM1.87m

New Hoong Fatt Holdings Bhd recorded a lower pre-tax profit of RM1.868 million for the fourth quarter ended Dec 31, 2011, as against RM7.893 million in the corresponding quarter of 2010. Its revenue fell to RM51.772 million from RM55.309 million.

For the full year, its pre-tax profit was RM25.929 million, down from RM31.304 million in the previous year.

This was mainly due to higher goodwill impairment compared to 2010, and operating loss from the overseas operations in Indonesia and China which were newly set up in 2011, it said in a statement.

The revenue fell to RM215.570 million from RM222.473 million mainly due to the disposal of 60 per cent-owned subsidiary New Kean Tat Auto Parts Sdn Bhd in the third quarter of the financial year, resulting in the reduction of revenue contribution from this subsidiary.

This reduction was mitigated by the increase in revenue from exports by 26.1 per cent compared to 2010, it said, adding that revenue for the local market was largely maintained at 2010 levels.

New Hoong Fatt's Board of Directors has recommended a final single-tier dividend of eight sen per share plus a special final single-tier dividend of one sen per share, totalling RM6.764 million. It expects the operating conditions for 2012 to remain challenging.

The rise in the petroleum price will cause a rise in prices of raw materials and this could adversely affect profit margins, it said.

Key focus areas for the Group are the stabilisation in the performance of the new overseas subsidiaries and improvement in production capabilities and operational cost efficiencies, it said.

The Group is optimistic that it will continue its positive performance for 2012. -- Bernama



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KLCI holds steady at mid-day break, but struggles to breach 1,520

KUALA LUMPUR (Jan 20): The FBM KLCI held steady at the mid-day break on Friday but struggled to stay above the 1,520-point level, while most key regional markets extended their gains to fresh two-month highs.

At 12.30pm, the FBM KLCI rose 2.55 points to 1,519.36.

Gainers led losers by 358 to 237, while 305 counters traded unchanged. Volume was 989.06 million shares valued at RM645.76 million.

The ringgit edged up 0.05% to 3.1027 versus the US dollar; crude palm oil futures for the third month delivery gained RM16 per tonne to RM3,173, crude oil added 11 cents a barrel to US$100.50 while gold slipped US$1.32 an ounce to US$1,657.03.

At the regional markets, Japan’s Nikkei 225 rose 1.31% to 8,752.95, South Korea’s Kospi gained 0.95% to 1,933.16, Singapore’s Straits Times Index added 0.55% to 2,826.55, the Shanghai Composite Index up 0.37% to 2,304.59 and Hong Kong’s Hang Seng Index up 0.25% to 19,992.50.

On Bursa Malaysia, Petronas Dagangan added 20 sen to RM17.70, New Hoong Fatt up 17 sen to RM2.50, Yinson 15 sen to RM2.29, KLK and TDM up 14 sen each to RM24.92 and RM4.11, Can-One up 13 sen to RM2.13, Malayan Flour Mills, Batu Kawan and MPI added 12 sen each to RM7.80, RM18.78 and RM3.27 respectively, while Genting PLANTATION []s rose 11 sen to RM9.26.

DBE Gurney was the most actively traded counter after it confirmed that it was in talks with a shareholder of CI Holding Bhd which includes a private placement exercise.

The stock fell half a sen to 13 sen with 121.84 million shares done, while its warrants gained half a sen to 8 sen with 49.99 million units done.

Other actives included TMS, DVM, Compugates, Flonic, Utopia and Focus.

Decliners at mid-day included BAT, Nestle, Supermax, A-Rank, Cepco, Harvest Court, Dutch Lady, KrisAssets and Fututec.



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KLCI advances in late trade, extends gains for fourth day

KUALA LUMPUR (Jan 12): The FBM KLCI extended its gains for the fourth consecutive day on Thursday as late buying of select blue chips, including Genting-related counters lifted the index.

At 5pm, the index rose 3.27 points to 1,525.56.

Market breadth however remained weak with losers leading gainers by 418 to 351, while 339 counters traded unchanged. Volume was 1.52 billion shares valued at RM1.58 billion.

Regional markets mostly ended lower, while European shares were flat on Thursday, pausing ahead of a Spanish debt auction that is the first test in the new year of demand for peripheral euro zone debt, the latest stage of a crisis that remains a key drag for equity market sentiment, according to Reuters.

At the regional markets, Japan’s Nikkei 225 fell 0.74% to 8,385.59, the Shanghai Composite Index lost 0.47% to 2,275.01, Hong Kong’s Hang Seng Index was down 0.30% to 19,095.38 and Taiwan’s Taiex shed 0.02% to 7,186.58 and Singapore’s Straits Times Index fell 0.13% to 2,743.66.

Meanwhile, South Korea’s Kospi rose 1.03% to 1,864.57.

On Bursa Malaysia, Genting PLANTATION []s gained 21 sen to RM9.10, Genting up 20 sen to RM10.96, Proton and Hartalega 18 sen each to RM5.46 and RM6.40, Bursa Malaysia 17 sen to RM7.03, Malayan Flour Mills 15 sen to RM7.55, Pos Malaysia and Can-One up 13 sen each to RM2.70 and RM1.78, Southern Acids 12 sen to RM2.29 while Allianz gained 11 sen to RM4.88.

Among the decliners, Carlsberg fell 33 sen to RM8.43, GAB down 26 sen to RM12.06, KLK 18 sen to RM24.52, New Hoong Fatt and BHIC 13 sen each to RM2.31 and RM3.68, Nestle and BAT 12 sen each to RM55.80 and RM49.84, Litrak 11 sen to RM3.74 and Dutch Lady 10 sen to RM26.10.

Ingenuity Solutions was the most actively traded counter with 41.32 million shares done. The stock added one sen to 8 sen.

Other actives included Proton, Nextnation, Pos Malaysia, Bursa Malaysia and OSK.



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KLCI pares down gains, Asian mkts turn negative

KUALA LUMPUR (Jan 12): The FBM KLCI hovered in positive territory at the mid-day break on Thursday as most key regional markets turned negative ahead of a Spanish debt sale that is seen as a key test of confidence.

Also, the European Central Bank and Bank of England are scheduled to announce their respective interest rates.

Regional investors have been more risk averse in recent days as lingering concerns over the eurozone debt crisis has sapped confidence among punters.

At the mid-day break, the FBM KLCI edged up a mere 0.03 of a point to 1,522.32.

Losers overtook gainers by 365 to 275, while 313 counters traded unchanged. Volume was 781.28 million shares valued at RM680.04 million.

The ringgit weakened 0.11% to 3.1423 versus the US dollar; crude palm oil futures for the third month delivery fell RM26 per tonne to RM3,202, crude oil gained 34 cents per barrel to US$101.21 while gold added US$1.05 an ounce to US$1,643.03.

At the regional markets, Japan’s Nikkei 225 fell 0.92% to 8,370.14, Hong Kong’s Hang Seng Index shed 0.12% to 19,128.80, the Shanghai Composite Index was down 0.15% to 2,272.63, and Taiwan’s Taiex lost 0.10% to 7,181.34.

Meanwhile, Singapore’s Straits Times Index was up 0.24% to 2,753.61 and South Korea’s Kospi gained 0.18% to 1,848.84.

Among the gainers on Bursa Malaysia, Proton rose 17 sen to RM5.45 with 9.98 million shares done. The national carmaker has been in the limelight in recent weeks on various reports of interested parties bidding for Khazanah Nasional Bhd’s controlling stake in the company.

Other gainers included Pos Malaysia that rose 14 sen to RM2.71, Bursa 13 sen to RM6.99, Southern Acids 12 sen to RM2.29, Esso and Can-One 11 sen each to RM3.67 and RM1.76, Kulim 10 sen to RM4.41, while Malayan Flour Mills and Hibiscus added nine sen each to RM7.49 and RM1.11.

GAB was the top loser this morning and fell 32 sen to RM12; Carlsberg lost 22 sen to RM8.54, Dutch Lady 20 sen to RM26, KLK 18 sen to RM24.50, New Hoong Fatt 14 sen to RM2.30, Nestle and Batu Kawan lost 12 sen each to RM55.80 and RM18.74, while BAT fell 10 sen to RM49.86.

The actives included Proton, Pos, Hibiscus, Bursa and OSK.



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KLCI bucks key regional markets, Genting leads

KUALA LUMPUR (Nov 30): Blue chips extended their gains on Wednesday, with the FBM KLCI firmly above the 1,450 level, powered by Genting and Maybank but all the key regional markets were in the red at midday.

Reuters said sentiment was weighed down as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.

The earlier rise in Asian shares was mostly seen as a correction to last week's huge selling, with investors only tepidly scaling back risk aversion as they waited for more euro zone debt sales and meetings ahead.

At 12.30pm, the FBM KLCI rose 11.67 points to 1,456.39. Turnover was 685.72 million shares valued at RM614.86 million. The broader market was mixed with 306 gainers, 304 losers and 278 stocks unchanged.

Among the regional markets, Japan’s Nikkei 225 fell 1.27% to 8,370.09, Hong Kong’s Hang Seng Index lost 1.89% to 17,911.21, Shanghai’s Composite Index 2.32% to 2,356.33, Taiwan’s Taiex 1.38% to 6,892.39, South Korea’s Kospi 0.78% to 1,842.13 and Singapore’s Straits Times Index down 0.06% to 2,686.56.

Among the commodities, US light crude oil fell 51 cents to US$99.28 while Brent was unchanged at US$110.82. Crude palm oil futures fell RM8 to RM3,054 per tonne while the ringgit was firmer at 3.1698 to the US dollar from the previous close of 3.1817.

Consumer stocks were among the gainers, albeit in thin volume. Nestle rose 40 sen to RM51.80, GAB 22 sen to RM11.32, Dutch Lady and Bonia 20 sen each to RM23.98 and RM1.88.

Genting climbed 30 sen to RM10.80 with 4.36 million shares done. The gain pushed the KLCI up 2.57 points. Petronas Gas added 24 sen to RM13.24.

Maybank rose 12 sen to RM8.14 and Tenaga 11 sen to RM5.55, nudging the index by 2.08 points and 1.38 points. Other index-linked gainers were CIMB and Telekom, up six sen each to RM7.11 and RM4.31 while Axiata, DiGi and IOI rose four sen to RM4.89, RM3.52 and RM4.99 respectively. However, PPB fell 10 sen to RM16.08 and UMW 10 sen to RM6.68.

Compugates was the most active with 86.35 million shares done, ending the morning session unchanged at 8.5 sen. JCY fell 2.5 sen to 73.5 sen on mild profit taking despite analysts upgrades following a turnaround in the company’s operations.

AirAsia rose three sen to RM3.69 in active trade.

Among the decliners were Minho, down 19 sen to 36 sen, New Hoong Fatt 12 sen to RM2.15 and AIC 10 sen to RM1.20.



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