Selangor Properties up 3%, trades ex-dividend

KUALA LUMPUR (April 25) : Selangor PROPERTIES [] Bhd rose 3% to be among the top gainers as investors chased the stock to capitalise on its dividends.

Selangor Properties shares climbed 10 sen to RM3.68 as at 9.21am.

The stock trades ex-dividend on Wednesday. Shareholders have approved the company’s plan to pay a first and final dividend of 10% less 25% tax for financial year ended October 31, 2011. The final lodgement date falls on Friday.



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Stocks to Watch Top Glove, SelProp, MAS, Globetronics, Keck Seng

KUALA LUMPUR (April 24): Malaysian stocks will take the cue from crucial global economic data from Europe and the US as investors assess external factors against domestic pre-election sentiment.

European highlights include the sale of government bonds in Spain and the Netherlands, while across the Atlantic the spotlight will be on indications of more quantitative easing (QE) by US policymakers to sustain the world's largest economy.

Analysts said signs of a further QE may spur global equities while an opposite indication could result in profit taking. In the US, the S&P 500 futures added 3.75 points to 1,366.5, while the Dow Jones Industrial Average futures climbed 30 points to 12,901.

In Malaysia, the FBM KLCI fell 1.52 points to close at 1582.28 points on Tuesday.

Stocks to watch on Wednesday are Top Glove Corp Bhd, Selangor PROPERTIES [] Bhd (SelProp), MALAYSIAN AIRLINE SYSTEM BHD [] (MAS), GLOBETRONICS TECHNOLOGY [] BHD [], and KECK SENG (M) BHD [].

Maybank Investment Bank Bhd has raised its earnings per share (EPS) forecast for Top Glove by 8% to 12% for financial years (FY) ending Aug 31, 2012 to 2014 after taking into account lower prices of natural rubber. Maybank IN, which revised upwards its fair value for Top Glove shares by 29% to RM5.40 from RM4.20, also upgraded the stock to a "buy" from "sell".

SelProp shares will trade ex-dividend on Wednesday. Shareholders have approved the company's plan to pay a first and final dividend of 10%, less 25% tax for the financial year ending Oct 31, 2011.

MAS gained as much as 3.3% or four sen to RM1.27 in intraday trade, against a backdrop of declining crude oil prices. Commodity prices fell on concerns that European sovereign debt woes will curb demand.

Globetronics's first quarter (1Q) net profit declined 4% from a year earlier, as the electronics component manufacturer registered lower revenue and higher operating cost. In a statement to the bourse, Globetronics said net profit came to RM6.2 million in the quarter to March 31, 2012, against RM6.43 million previously. Revenue fell 15% to RM56.79 million from RM67.09 million, as the company registered less turnover from China and Singapore, it said.

Keck Seng — which undertakes oil palm cultivation, besides real estate and hospitality operations — said it plans to reward shareholders with a final dividend of 6%, less 25% tax for financial year ended Dec 31, 2011. The proposed dividend requires shareholders' consent at the firm's coming annual general meeting.



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Stocks to watch: UM Land, VS Industry, BCorp, SelProp

KUALA LUMPUR (March 30): Malaysian stocks may find support on Friday from quarter-end window dressing by fund managers on the final trading day of the first quarter. This could spur the FBM KLCI’s advance against the backdrop global economic growth concerns and anticipation of Malaysia’s next general election.

Analysts believe technical dynamics could still push the FBM KLCI to its historical high of 1,597 points, but the crucial question is whether the index can sustain its gains.

“Strategy wise, investors should capitalise on further rallies to take profits and stay nimble, in the wake of volatile external markets as well as ahead of the looming 13th general election,” Hong Leong Investment Bank Bhd research head Low Yee Huap wrote in a note.

The 30-stock FBM KLCI rose 1.69 points to close at 1,585.44 points on Thursday following a volatile trading session.

Stocks to watch on Friday include UNITED MALAYAN LAND BHD [] (UMLand), V.S. Industry Bhd, Berjaya Corp Bhd (BCorp), Selangor PROPERTIES [] Bhd, and CREST BUILDER HOLDINGS BHD []. Other stocks to watch are CypARK RESOURCES BHD [] and HAI-O ENTERPRISE BHD []

UMLand and Iskandar Investment Bhd have signed a collaboration agreement to conduct negotiations which will facilitate UMLand’s plan to acquire and develop tracts in Iskandar Malaysia, Johor .

V.S. Industry, a contract manufacturer of electronic products, said net profit fell 34% to RM6.64 million in the second quarter ended Jan 31, 2012 from RM10.1 million a year earlier, dragged down by lower income from its associates. Revenue, however, rose 4% to RM265.77 million from RM255.51 million.

BCorp’s net profit fell 53% to RM15.28 million in the third quarter ended Jan 31, 2012 from RM32.47 million a year earlier. Bottom line was hurt by operating expenses for its retail business and lower property sales, besides the absence of income from discontinued operations.

Selangor Properties’ net profit fell 89% to RM552,000 in the first quarter ended Jan 31, 2012 from RM5.06 million a year earlier due to currency translation losses.

Crest Builder and joint venture partner Detik Utuh Sdn Bhd will undertake a RM220 million mixed development in collaboration with landowner Syarikat Prasarana Negara Bhd.

Cypark posted net profit of RM6.51 million in the first quarter ended Jan 31, 2012, a marginal 0.6% lower than RM6.55 million a year ago but it remained upbeat for its core business of solid waste management and renewable energy.

Hai-O’s net profit rose 42.8% to RM9.06 million in the third quarter ended Jan 31, 2012 from RM6.34 million a year ago, boosted by its principal subsidiary, the multilevel marketing division. Its revenue increased 8.9% to RM62.79 million from RM57.62 million.

For the nine-month period, its net profit increased 21.6% to RM24.66 million from RM20.28 million in the previous corresponding period. Its revenue rose 2% to RM169.96 million from RM164.99 million.



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Selangor Properties 1Q profit down 89% year-on-year

KUALA LUMPUR (March 29) : Selangor PROPERTIES [] Bhd’s net profit fell 89% to RM552,000 in the first quarter ended Jan 31, 2012 from RM5.06 million a year earlier due to currency translation losses.

In a statement to the exchange on Thursday, Selangor Properties said revenue was, however, up 11% to RM52.15 million against RM46.81 million previously.

“The group is cautiously positive in FY2012,” Selangor Properties said.

Currency translation losses had dragged its investment holding and Australian operations into the red during the quarter in review, according to the company.



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Blue chips cautious in early trade, eyes on Greece again

KUALA LUMPUR (Feb 21): Blue chips on Bursa Malaysia slipped in early trade on Tuesday as investors awaited the outcome of a 130 billion ero rescue for Greece.

Reuters reported that Euro zone finance ministers were expected to approve the rescue plan with strict conditions after months of uncertainty that has shaken the currency bloc, although work remained to be done to make the numbers add up.

At 9.30am, the FBM KLCI was down 1.16 points to 1,559.41. Turnover was 282.20 million shares valued at RM133.63 million. However, gainers led losers 174 to 161 while 238 stocks were unchanged.

Among the decliners were Esso, down 12 sen to RM3.64 after its earnings fell. CI Holdings lost seven sen to Rm1.26, Top Glove six sen to RM4.86, KLK also six sen to RM24.08 and Bursa Malaysia five sen to RM7.35.

Among the lower liners SPB lost 10 sen to RM3.61, Jobstreet five sen to RM2.16 and KKB four sen to RM1.71.



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LCI snaps two-day winning streak as select blue chips weigh

KUALA LUMPUR (Feb 15): The FBM KLCI snapped its two-day winning streak and closed lower on Wednesday, lagging its regional peers, weighed by losses at select blue chips.

The FBM KLCI fell 4.75 points to 1,561.30.

Gainers led losers by 433 to 385, while 346 counters traded unchanged. Volume was 2.31 billion shares valued at RM2.15 billion.

Meanwhile, regional markets rose on Wednesday as investors hoped Greece would deliver on a commitment to enact harsh reforms, while comments from China's central bank governor saying Beijing would continue to invest in euro zone government debt aided sentiment, according to Reuters.

Asian shares, including Shanghai, Hong Kong and Japan, also broke through key technical resistances, after Zhou Xiaochuan said Beijing remains confident in the euro and in the ability of euro zone members to solve their debt problems, it said.

The Shanghai Composite Index gained 0.94% to 2,366.70, Hong Kong’s Hang Seng Index added 2.14% to 21,365.23, Japan’s Nikkei 225 rose 2.30% to 9,260.34, Taiwan’s Taiex was up 1.54% to 8,005.24, South Korea’s Kospi added 1.13% to 2,025.32 while Singapore’s Straits Times Index added 0.81% to 3,011.68.

On Bursa Malaysia, Petronas Dagangan was the top loser and fell 56 sen to RM18.22; Hartalega lost 34 sen to RM7.92, Aeon 15 sen to RM7.70, Kossan and Carlsberg down 11 sen each to RM3.44 and RM9.45, Petronas Gas 10 sen to RM16.64, while Nestle, IGB, Hong Leong Bank and KLK fell eight sen each to RM55.40, RM2.67, RM11.62 and RM25.38 respectively.

Naim Indah Corp was the most actively traded counter with 268.3 million shares done. The stock rose four sen to 52 sen.

Other actives included TMS, Dataprep, Compugates, Tiger Synergy, Perisai, Emico, SAAG and KHSB.

Among the gainers, BAT added 70 sen to RM52.48, Amtek 27 sen to 50 sen, Kim Hin, SPB and Lafarge Malayan Cement up 16 sen each to RM1.44, RM3.74 and RM7.08 respectively, TSM 15 sen to RM1.47, while SapuraCrest added 12 sen to RM5.05.



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CIMB Research has technical sell on Selangor Properties at RM3.22

KUALA LUMPUR (Jan 10): CIMB Equities Research has a technical sell on Selangor PROPERTIES [] at RM3.22 at which it is trading at a price-to-book value of 0.6 times.

It said on Tuesday Selangor Properties violated its triangle support the previous day and it viewed this as a prelude to more downside ahead.

“Selling pressure would likely accelerate over the next few days if the candles fail to climb back above the support-turned-resistance trend line soon,” it said.

CIMB Research said the MACD signal line has staged a dead cross while RSI has also hooked downward.

“Our strategy here is to unload on strength, preferably near the RM3.32-RM3.40 resistances. Only a rise above RM3.50 would negate this bearish view,” it said.



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