KLCI falls in tandem with regional markets

KUALA LUMPUR (April 9): A slew of negative external developments weighed down investor sentiment at the local bourse, and the FBM KLCI closed in the red on Monday.

Asian shares fell on Monday as a sharp slowdown in U.S. jobs growth raised concerns about the strength of the world's largest economy, prompting investors to curb risk exposure ahead of more U.S. data and earnings as well as figures from China this week, according to Reuters.

China stocks fell 0.9 percent on Monday, led by property firms, after data showed the inflation rate rose more than expected last month, prompting speculation that Beijing may delay further easing of monetary policy, it said.

The FBM KLCI closed 7.59 points lower at 1,591.28.

Market breadth was negative with 468 losers, 238 gainers and 322 counters trading unchanged. Volume was 1.08 billion shares valued at RM1.08 billion.

At the regional markets, Japan’s Nikkei 225 fell 1.47% to 9.546.26, the Shanghai Composite index was down 0.90% to 2,285.78, south Korea’a Kospi fell 1.57% to 1,997.08, Taiwan’s Taiex was fell 1.27% to 7,600.87 and Singapore’ Straits Times Index shed 0.87% to 2,960.10.

On Bursa Malaysia, BAT was the top loser and fell 74 sen to RM54.72, KrisAssets down 21 sen to RM6.67, BLD PLANTATION []s and Toyo Ink fell 20 sen each to RM9.20 and RM1.47, Panasonic and Petronas Dagangan down 18 sen each to RM21.70 and RM18.66, TDM and KLK lost 14 sen each to RM4.81 and RM24.50, while GAB and Petronas Gas were down 12 sen each to RM12.96 and RM16.66.

Naim Indah Corp was the most actively traded counter with 113.6 million shares done. The stock fell four sen to 53 sen.

Other actives included Metronic, DVM, EITA, Managed Pay, SuperComNet, Tiger Synergy and Focus.

Gainers included Aeon, SMPC, Milux, Kluang, Hong Leong Industries, Nationwide, Tanjung Offshore, Parkson, UMS and Nestle.



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FBM KLCI slips at mid-day break, but hovers above 1,590-level

KUALA LUMPUR (April 9): The FBM KLCI slipped into negative territory on Monday, in line with the waning sentiment at key regional markets, following a drop in US jobs growth that was reported last week.

Among the better performers on Bursa Malaysia in the morning session was newly-listed EITA Resources Bhd.

The FBM KLCI lost 4.66 points to 1,594.21 at 12.30pm.

Market breadth was weaker with 378 losers and 185 gainers, while 264 counters traded unchanged. Volume was 578.5 million shares valued at RM420.14 million.

The ringgit weakened 0.29% to 3,0728 versus the US dollar; crude palm oil futures for the third month delivery rose M13 per tonne to RM3,590, crude oil fell US$1.19 per barrel to US$101.12 while gold added US$2.05 an ounce to US$1,638.47.

Asian shares fell on Monday as a sharp slowdown in U.S. jobs growth raised concerns about the strength of the world's largest economy, prompting investors to curb risk exposure ahead of more U.S. data and earnings as well as figures from China this week, according to Reuters.

BIMB Securities Research in a note Monday said it would be a stop start scenario for equities this week following a weaker than expected job data for March in the US.

Therefore, investors and traders alike will reassess their risk/reward propositions before making more commitments, it said.

As of now, the lack of fresh catalysts will be the main excuse as well as the resurrection of Eurozone’s debt situation to be road bumps ahead for equity markets.

Then again, if both the US and China are to lean towards monetary easing, these may set the markets abuzz again.

For now, we can expect loads of fence sitters.

“Locally, the FBM KLCI failed to breach the 1,600 mark despite adding another 5 points to end the week at almost 1,599.

“For now, the lack of direction with some regional markets closed, we would expect a lacklustre market today with the immediate support seen at 1,590,” it said.

ON Bursa Malaysia, BAT fell 74 sen to RM54.72, Petronas Dagangan 30 sen to RM18.54, BLD PLANTATION []s fell 19 sen to RM9.21, KLK down 14 sen to RM24.50, GAB and Public Bank lost 12 sen each to RM12.96 and RM13.68, Chin Teck lost nine sen to RM9.06 while TDM was down eight sen to RM4.87.

Naim Indah Corp was the most actively traded counter with 81.28 million shares done. The stock fell three sen to 54 sen.

Other actives included EITA that rose 10.5 sen to 86.5 sen wth 30 millin shares traded.

Other actively traded stocks included DVM, Tiger Synergy, Time, SuperComNet, Metronic, Karambunai and Focus.

Gainers included Aeon, SMPC, KLuang, Dutch Lady, Eita, Hartalega, Nationwide, Parkson, Johore Tin and Nestle.



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KLCI closes higher but some pullback expected next week

KUALA LUMPUR (April 6): The FBM KLCI closed higher on Friday, while the few regional markets that were open for trade ended the day in negative territory, as investors stayed on the sidelines ahead of key U.S. jobs data.

China shares ended up 0.2 percent in thin volume on Friday, moving around a key psychological level as investors awaited a slew of economic data next week which could signal possible policy changes, according to Reuters.

The FBM KLCI closed 5.43 points higher at 1,598.87.

Gainers led losers by 457 to 248, while 324 counters traded unchanged. Volume was 1.28 billion shares valued at RM1.14 billion.

At the regional markets, the Shanghai Composite Index added 0.19% to 2,306.55, Taiwan’s Taiex gained 0.87% to 7,706.26, south Korea’s Kospi edged up 0.01% to 2,029.03 while Japan’s Nikkei 225 fell 0.81% to 9,688.45.

Affin Investment Bank Bhd vice president and head of retail research Dr Nazri Khan said the FBM KLCI was now ripe for a pullback towards a lower sideways range of 1580-1600 level.

“We reckon the equity optimism will take a mild negative turn following a surprised absence of USA stimulus and Spanish revived fiscal concerns with the bond yields climbing to their highest level in five month (Spanish 10-Year bond rose to 5.8%).

“This has stoked concerns regarding the European debt crisis, boosted safe-haven appeal of the USA dollar and weighed on local risk-taking sentiment,” he said.

DR Nazri said he also expects the bullish sentiment to take a pause after the Federal Reserve meeting minutes earlier this week indicated reduced prospects for more quantitative easing.

ON Bursa Malaysia, BAT was the top gainer and added 48 sen to RM55.46, Dutch Lady added 30 sen to RM35.80, Tradewinds PLANTATION []s and BLD Plantations rose 25 sen each to RM5.44 and RM9.40, Tradewinds up 18 sen to RM9.97, TDM 17 sen to RM4.95, SMPC and Naim Holdings 15 sen each to RM2.12 and RM2.05, Mulpha 14 sen to 60 sen and MAHB 13 sen to RM5.89.

Naim Indah Corp was the most actively traded counter with 149.52 million shares done. The stock rose 8.5 sen to 57 sen.

Other actives included Metronic, SuperComNet, Ariantec, CSL, Focus, Tiger Synergy, Green Ocean, Ingenuity Solutions and TMS.

Decliners included F&N, Batu Kawan, Shell, HUp Seng, Hong Leong Industries, Takaful, HDBS, Aeon and Tiong Nam Logistics.



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TDM: New specialist Hospital to be built in Batu Burok, T’ganu

KUALA LUMPUR (April 5): The Terengganu state government has approved the lease of land in Batu Burok to TDM BHD [] to build and operate a new 130-bed specialist hospital with all the facilities to serve the people in Kuala Terengganu.

In a statement Thursday, TDM Bhd chairman Datuk Roslan Awang Chik said that the new eight-storey hospital would replace the current Kuala Terengganu Specialist (KTS) hospital that was operating at or near maximum capacity.

Roslan said the hospital to be built on a 5.79-acre land would be the city’s flagship specialist hospital that will serve the approximately 338,000 people of Kuala Terengganu.

“Our aim is to provide the community with high quality yet affordable medical care,” he said.

He said CONSTRUCTION [] would commence immediately and completed within 24 months once the land owner, Tabung Amanah Warisan Negeri Terengganu signs the completed lease documents

Meanwhilel, TDM chief executive officer Badrul Hisham Mahari said that the hospital would provide more comprehensive healthcare facilities, accommodate more in-patients, operate more specialist clinics and other quality healthcare services.

He said the new hospital was planned to be equipped with 130-bed hospital, five operating theatres, 12-bedded intensive care unit (ICU) and a one and half storey car park with 281 parking bays.

The current KTS Hospital is equipped with 33 beds, two-bedded ICU and two operating theatres, accident and emergency services were provided, runs a diagnostic imaging department, a laboratory and a pharmacy, he said.

The current hospital also provides consultancy services on general surgery, obstetrics and gynaecology, orthopaedics and anaesthetics, he said.

Badrul Hisham said the hospital project would cost RM170.2 million, excluding the cost of the lease of the land and incidental fees.

“It will be financed by internally generated funds and / or bank borrowings, which the Board has yet to decide,” said Badrul Hisham.

He also said TDM’s healthcare division with an average growth of 12% in patients number since 2007, had recorded consecutive annual increase in revenue with an average of RM31million in which contributed an average of 7.0% annually to TDM’s profit before tax.



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KLCI extends loss on external woes

KUALA LUMPUR (April 5): The FBM KLCI extended its loss on Thursday, in line with the weaker overnight close at the US markets as well as lacklustre opening at regional markets.

The 30-stock index fell 3.79 points to 1,595.48 at 9am.

Losers led gainers by 57 to 23, while 86 counters traded unchanged. Volume was 13.1 million shares valued at RM4.09 million.

US stocks fell for a second day on Wednesday as investors contemplated a world without monetary stimulus and a poorly received bond auction in Spain suggested the effects of Europe's funding operations were waning, according to Reuters.

Meanwhile, Global stocks dropped more than 1 percent and gold tumbled to its lowest in nearly three months on Wednesday a day after U.S. central bank meeting minutes dented hopes for more economic stimulus and as a Spanish debt auction drew weak results, it said.

BIMB Securities Research said European stocks fell for a second day yesterday after Spain sold fewer bonds than its maximum target and the Federal Reserve damped expectations of more monetary stimulus for the US. Spain sold €2.6bn (US$3.4bn) of bonds; near the minimum target of €2.5bn; and borrowing costs rose in its first auction since the country said public debt will surge to a record this year.

US stocks ended in negative territory for a second day fueled by disappointment over the Fed's latest minutes and ongoing worries over the euro zone, the research house said in a note April 5.

The Dow and the S&P logged their biggest decline since March 6, while the Nasdaq suffered its worst day of the year. The S&P 500 lost 1 percent to 1,398.96 while DJIA slid 124.8 points to 13,074.75, it said.

“Back home, the local market has retraced as expected where the FBMKLCI fell more than 7 points to 1,599.27; dragged down by financial and PROPERTIES [] sector.

“Net foreign is still positive at RM176.7m yesterday but we reckon market sentiment to be weaker due to profit taking activities coupled with weak share performance in US and Europe. Expect immediate support to be seen at 1,595 followed by 1,590,” it said.

Among the decliners in early trade, KLK fell 22 sen to RM24.38, Genting lost 10 sen to RM10.98, Maybank don nine sen to RM8.79, RHB Capital and Malayan Flour Mills fell four sen each to RM7.70 and RM2, CIMB, MAS, Mah Sing and TDM fell two sen each to RM7.70, RM1.34, RM2.02 and RM4.68 respectively.

Gainers,meanwhile, included Tradewinds, BHIC, Parkson, SEGi, Pos Malaysia, Leader, Proton and N2N.

The actives included JCY, Carotech, Kurasia, Metronic and Winsun.



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Limited gains for KLCI at mid-morning

KUALA LUMPUR (March 28): Gains were limited for the FBM KLCI at mid-morning on Wednesday in line with the tepid trade at key after US stocks retreated from near four-year peaks on Tuesday.

At 10.05am, the FBM KLCI edged up 1.32 points to 1,589. Gainers trailed losers by 169 to 213, while 223 counters traded unchanged. Volume was 386.01 million shares valued at RM126.19 million.

Asian shares drifted lower on Wednesday as investors waited for more clues on the state of the U.S. economy, after hopes for further stimulus from the U.S. Federal Reserve strengthened risk appetite and lifted prices the previous session, according to Reuters.

At the regional markets, Japan’s Nikkei 225 fell 0.95% to 10,158.20, Hong Kong’s Hang Seng Index losr 0.43% to 20,965.60, the Shanghai Composite Index was down 0.56% to 2,333.96, South Korea’s Kospi fell 0.23% to 2,035.05, singapore’s Straits Times Index lost 0.38% to 3,007.52 and Taiwan’s taiex shed 0.09% to 8,022.45.

BIMB Securities Research in a note March 28 said that after a triple digit jump on Monday, the Dow Jones Industrial Average retreated 44 points to a tad below the 13,200 support mark as traders took stock of recent developments and stay sidelined waiting for fresh catalysts.

Meanwhile, European bourses closed mostly lower reacting to the slight decline in the US consumer confidence level, it said.

The research house said that it was a good day for Asian markets as most ended up higher taking cue from the uptrend on Wall Street.

Locally, the FBM KLCI rebounded 5 points to close just below the resistance of 1,590, it said.

“We believe the benchmark index is all set to break its all time high of 1,597 soon and thereafter test the strong psychological level of 1,600.

“We strongly believe the uptrend remains intact as foreign participation again was a positive RM324 million yesterday amounting to almost RM4.5 billion year-to-date. Meanwhile, the date of GE13 is still highly speculative with the latest one touted at September,” it said.

On Bursa Malaysia, Dutch Lady rose 60 sen to RM32.60, Takaful added 11 sen to RM3.01, Petronas Gas and PPB rose eights en each to RM16.98 and RM16.48, Bintulu Port up seven sen to RM6.90, while TDM, Kulim, Sin Heng Chan and BIMB rose six sen each to RM4.83, RM4.20, RM1.06 and RM2.36 respectively.

SuperComnet was the most actively traded counter with 49 million shares done. The stock fell 12.5 sen to 23.5 sen.

Other actives included Utopia, Metronic, Silver Bird, Ariantec and Maxtral.

Decliners included United PLANTATION []s, Supercomnet, MISC, Batu Kawan, Parskson, Ivory, Hing yap, Top Glove, MSM and AIC.



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HDBSVR sees profit-taking pressure on Bursa Malaysia

KUALA LUMPUR (March 28): Hwang DBS Vickers Research said on Wednesday the presence of profit-taking pressures on Bursa Malaysia is expected to push the FBM KLCI lower in the near term.

“On the chart, the benchmark index may be on its way to test the immediate support level of 1,580,” it said.

Overnight on Wall Street, the key US indices, which hovered near their four-year highs, saw mild corrections of between 0.1% and 0.3% at the closing bell.

HDBSVR said it expected the spillover effects to be felt around the region on Wednesday.

The research house said stocks that may pull back include Cahya Mata Sarawak following the termination of its agreement with Rio Tinto Aluminium to build an aluminium smelter plant in Sarawak.

Also in focus could be Supercomnet, after announcing that Mohd Nazifuddin would not be pursuing the option to acquire an 18.7% stake in the company.

However, TDM was expected to see upside after it proposed a tax-exempt dividend per share of 18.5 sen, translating to a net yield of 3.9%.



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Stocks to watch: Plantations, Supercomnet, TDM, Poh Kong

KUALA LUMPUR (March 27) : PLANTATION [] stocks could be a highlight for Malaysian stocks on Wednesday as investors weigh the effects of pre-election sentiment in the country against world economic growth concerns.

Malaysian crude palm oil (CPO) futures rose to a fresh high of RM3,485 a tonne on Tuesday in anticipation of declining oil palm output against higher demand for the commodity.

As plantation firms make up about a fifth of the FBM KLCI’s weightage, improving sentiments on CPO prices could give a lift to the stock market gauge.

However, analysts said “shrinking volume and cautious sentiment” in the stock market ahead of the country’s general election may curb the FBM KLCI’s advance.

The FBM KLCI of 30 stocks rose 5.12 points to close at 1,588.1 on Tuesday.

Stocks to watch on Wednesday include plantation stocks, Supercomnet Technologies Bhd, TDM BHD [] and POH KONG HOLDINGS BHD []. Other counters which could see trading interest are UMW HOLDINGS BHD [], STAR PUBLICATIONS (M) BHD [] and CAHYA MATA SARAWAK BHD [] (CMSB).

Supercomnet Technologies Bhd, whose share price fell on Tuesday after surging on Monday, stated Mohd Nazifuddin Mohd Najib was not taking up the option to purchase an 18.66% stake in the company.

TDM Bhd has proposed a final dividend of 18.5 sen per share, tax exempt for the financial year ended Dec 31, 2011.

Poh Kong, a jeweller, said its net profit rose 31% to RM12.43 million in the second quarter ended Jan 31, 2012 from RM9.52 million a year earlier as the jeweller raked in higher sales against the backdrop of rising gold prices.

RHB Research Institute has revised upwards its earnings forecast for UMW by between 0.8% and 1% for financial years ending Dec 31, 2012 to 2014, besides raising its target price for the stock from RM6.70 to RM7.30.

Star Publications’ shares will go ex-dividend on Wednesday. The company dad declared a second interim dividend of nine sen a share for financial year ended Dec 31, 2011.

CMSB and Rio Tinto plc have called off plans to jointly establish an aluminium smelter in Sarawak as electricity-supply details for the project could not be finalised.



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TDM proposes 18.5 sen final dividend, tax exempt

KUALA LUMPUR (March 27): TDM BHD [] has proposed a final dividend of 18.5 sen per share, tax exempt for the financial year ended Dec 31, 2011.

It said on Tuesday the proposed dividend would be subject to shareholders’ approval at its AGM.

On April 27, 2011, the board approved an interim dividend of 3.0 sen dividend per ordinary share, tax exempt for FY2011 which was paid on June 9.



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CIMB Research has technical buy on TDM at RM4.95

KUALA LUMPUR (March 6): CIMB Equities Research has a technical buy on TDM at RM4.95 at which it is trading at a price-to-book value of 1.0 times.

It said on Tuesday that TDM has been trending sideways for the past few weeks but prices broke out of its resistance trend line on Monday.

“We think that the stock could still make one more push higher from here, possibly towards a new high at RM5.30 after the candles swing above its yesterday’s high of RM5.05,” it said.

CIMB Research said that the selling pressure has tapered off, evident from the improving technical landscape. MACD signal line is poised for a positive crossover while RSI has also hooked upward.

“Put a stop at below the RM4.85 level. A slip below RM4.50 would indicate that the uptrend has exhausted. Next downleg will then drag prices back towards RM4.22 and RM4.10,” it said.



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KLCI bucks key regional markets

KUALA LUMPUR (March 5): The Malaysia stock market bucked the regional markets on Monday, underpinned by gains in selected banking stocks and heavyweights, while the broader market displayed an upbeat outlook as the FBM KLCI neared the all-time high of 1,594.

At 12.30pm, the KLCI was up 0.4% or 6.71 points to 1,590.49, but off a fresh intraday high of 1594.72. Turnover was 832 million shares worth RM818 million. Gainers beat losers 381 to 289 decliners while 316 counters were unchanged.

However, Asian stock indices declined at noon amid news that China had revised downwards its economic growth forecast to 7.5% in 2012. This compares to policymakers’ targeted growth of 8% between 2005 and 2011. China's economy rose 9.2% in 2011 from a year earlier following a 10.3% expansion in 2010.

Hong Kong’s Hang Seng Index fell 1.13% to 21,318.9, Taiwan’s Taiex lost 1.08% to 8026.96 while South Korea’s Kospi was down 0.9% to 2016.31 and Singapore’s Straits Times Index 0.16% at 2,988.72.

On the KLCI, analysts said it was trading at more expensive valuations compared to regional peers.

In a note on Monday, TA Securities Holdings Bhd head of research Kaladher Govindan said Indonesia and Thailand, offered better calendar year 2013 earnings growth prospects of 17.8 % and 14.9% respectively and are trading at a relatively cheap price-to-earnings ratios (PER) of 11.5 times and 10.7 times respectively.

This compares to Malaysia's FBM KLCI’s projected 12.2% growth at a PER of 13.2 times (based on Bloomberg consensus figures).

“While Malaysia being a low beta market had only advanced by 2.5% year-to-date, continued PER expansion in other regional markets on positive market undertone has the potential to rerate Malaysia as well.

“The impending announcement of various infrastructure and oil gas projects under the Economic Transformation Programme banner in the first half of this year could be strong drivers for the market apart from the listing of Felda Global Ventures that could draw fresh funds from abroad,” said Kaladher who does not discount the possibility of the KLCI testing the 1650 point level during the first half of the year.

Among the finance stocks, CIMB rose 16 sen to RM7.49 and Public Bank 10 sen to RM13.80. Heavyweight Sime Darby, which was upgraded, rose 10 sen to RM10.08.

As for PLANTATION []s, NSOP added 14 sen to RM6.10, TDM 10 sen to RM4.96, Batu Kawan four sen to RM18.98, TH Plantations three sen to RM2.83 but KUALA LUMPUR KEPONG BHD [] fell 12 sen to RM23.46.

Top gainer ORIENTAL HOLDINGS BHD [] added 21 sen to RM6.70 followed by Tasek Corp which rose 19 sen to RM9.

Notable decliners include PETRONAS DAGANGAN BHD [] which fell 22 sen to RM18.12 while Kulim and MBM Resources lost eight sen each to RM4.37 and RM4.57.

Most active was THE MEDIA SHOPPE BHD [] which added 1.5 sen to 10 sen with some 45 million shares done.



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Stocks to watch: CIMB, Cocoaland, TDM, Kimlun

KUALA LUMPUR (Feb 27): Market sentiment is expected to stay cautious on Tuesday as global equities pull back on concerns of strong oil prices’ weighing down already fragile economies in Europe.

At Bursa Malaysia, the corporate results should provide leads for investors as the reporting season draws almost to a close.

Among the stocks to watch are CIMB Group Holdings Bhd, COCOALAND HOLDINGS BHD [], TDM BHD [], Kimlun Corporation Bhd, Eastern & Oriental Bhd (E&O), Petronas Chemicals Bhd, HONG LEONG BANK BHD [], DRB-HICOM BHD [] and BOUSTEAD HOLDINGS BHD [].

CIMB posted net profit of RM1.132 billion in the fourth quarter ended Dec 31, 2011, up 29.8% from RM872.61 million a year ago. Its revenue was 6.1% higher at RM3.381 billion compared with RM3.185 billion. It announced a second interim dividend of 10.0 sen amounting to a net payment of RM743 million.

For FY11, it posted a record net profit of RM4.031 billion for 2011, or up 15.1% when compared with RM3.500 billion in FY10. The FY11 net return on equity (ROE) was also a record high 16.4%, but below the group’s full-year target of 17%.

Cocoaland’s earnings soared 103.2% to RM8.72 million for the fourth quarter ended Dec 31, 2011, from RM4.29 million a year ago, due to an increased selling price and higher trading volume of its products. It announced a second interim dividend of 6% per share.

TDM's earnings jumped 44.5% to RM44.34 million in the fourth quarter ended Dec 31, 2011, from RM30.68 million a year ago, on the back of higher crude palm oil (CPO) production and CPO prices.

Kimlun’s order book has increased to RM1.45 billion with the latest contract to build an extension to a shopping mall in Johor Baru for RM71.99 million. Its unit accepted the letter of award from Taman Sutera Development Sdn Bhd for the project.

E&O posted a strong set of results for the third quarter ended Dec 31, 2011 with earnings up 385% to RM15.36 million from RM3.16 million a year ago boosted by stronger property’s sales. Its revenue jumped 221% to RM123.12 million from RM41.08 million.

Petronas Chemicals Bhd posted total comprehensive income of RM735 million in the third quarter ended Dec 31, 2011, down 17.4% from RM890 million a year ago. Profit for the quarter was lower by RM172 million or 17% at RM826 million.

For the nine-month period, its net profit was RM2.62 billion while revenue was RM11.88 billion due to higher prices for olefins and derivatives and fertilisers and methanol.

Hong Leong Bank Bhd’s earnings rose 30.8% to RM381.37 million in the second quarter ended Dec 31, 2011 from RM291.43 million. Its revenue surged 66.1% to RM1.003 billion from RM603.96 million. Its earnings per share were 24.22 sen compared with 20.07 sen. It declared an interim dividend of 11 sen compared with nine sen.

Malaysian Rating Corp Bhd (MARC)has has revised the outlook on DRB-HICOM Bhd's (DRB-Hicom) AA-IS sukuk rating on its RM1.8 billion Islamic Medium Term Notes (IMTN) programme to negative from stable.

It said on Monday the outlook revision recognises the potential weakening of DRB-Hicom's near-to-intermediate term financial profile due to its debt-funded acquisition of PROTON HOLDINGS BHD [] (Proton).

Boustead Holdings Bhd’s net profit fell 8.6% to RM192.30 million in the fourth quarter ended Dec 31, 2011 from RM208.90 million a year ago.

Its revenue jumped 51% to RM2.554 billion from RM1.689 billion. Earnings per share were 18.59 sen compared with 20.20 sen. It proposed dividend of 9.0 sen.

For FY11, its earnings rose 13.6% to RM610.60 million from RM537.50 million in FY10. Its revenue increased 38.4% to RM8.55 billion from RM6.18 billion.



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TDM’s 4Q earnings up 44.5% to RM44m, boost from CPO

KUALA LUMPUR (Feb 28): TDM BHD []'s earnings jumped 44.5% to RM44.34 million in the fourth quarter ended Dec 31, 2011, from RM30.68 million a year ago, on the back of higher crude palm oil (CPO) production and CPO prices.

It said on Monday its revenue increased by 4.2% to RM135.42 million from RM129.97 million a year ago. Earnings per share were 18.69 sen from 13.59 sen a year ago.

The group also revalued its assets, which resulted in a surplus of RM287.6 million for the financial year.

For the financial year ended Dec 31, 2011, the group’s revenue increased by 27.6% to RM503.23 million from RM394.41 million while net profit rose 70.9% to RM156.85 million from RM91.74 million.



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Markets firmer, rotational play of penny stocks

KUALA LUMPUR (Feb 17): Key Asian markets except China were firmer at midday on Friday, as investors were relieved that Greece had finally implemented measures to secure a second bailout.

At Bursa Malaysia, the FBM KLCI rose 7.04 points or 0.45% to 1,557.53. Turnover was 1.21 billion shares valued at RM880.56 million. Advancing stocks beat decliners nearly two to one, with 426 gainers to 232 losers. Rotational play was seen in several penny stocks which had been under the radar for several months such as PDZ, GPA, IPower and Marco.

Among key regional markets, Japan’s Nikkei 225 rose 1.68% to 9,393.50, Hong Kong’s Hang Seng Index added 0.70% to 21,425.90, Taiwan’s Taiex 0.12% to 7,879.30 and South Korea’s Kospi 1.48% to 2,027.05 and Singapore’s Straits Times Index 0.47% to 2,991.23. However, Shanghai’s Composite Index lost 0.14% to 2,353.51.

April Brent crude oil futures rose 17 cents to US$120.28 while US light crude oil added 14 cents to US$102.45.

The ringgit gained 0.0107 to 3,0485 to the US dollar. Crude palm oil third-month futures rose RM22 to RM3,211 per tonne.

At Bursa Malaysia, Tasek was the top gainer, up 49 sen to RM8.49 with 64,500 shares done after it declared dividends totaling 86% despite weaker earnings.

Among the index-linked stocks, GENTING BHD []’s 18 sen gain to RM10.70 pushed the KLCI up 1.57 points.

Tenaga saw some recovery, rising 10 sen to RM6.10 on news that the recommended price of natural gas is being finalised and is scheduled to be presented to the Cabinet by the end of March. The framework will decide how much should be borne by Tenaga, independent power producers (IPPs) and end- consumers.

Sime rose nine sen to RM9.63. Among the banks, HLFG added 22 sen to RM11.76, Maybank four sen to RM8.54, Public Bank six sen to RM13.70 and CIMB two sen to RM7.27.

Among PLANTATION []s, Batu Kawan added 34 sen to RM19.86, TDM 14 sen to RM4.84 and IOI Corp three sen to RM5.44. BLD Plantations fell 28 sen to RM9.72 in thin trade and United Plantations 12 sen lower at RM22.54.

Dialog-WA extended its rally for the third day, adding 17 sen to 83 sen with 62.71 million units.

Rotational play was seen in related penny stocks with PDZ to the fore, adding five sen to 13.5 sen with 95.16 million shares done, GPA 1.5 sen to 10.5 sen and IPower one sen to 5.5 sen and Marco-WA adding one sen to 7.5 sen.

Among the decliners were MUH, sliding as much as 22 sen to 38 sen, while Nestle gave up 16 sen to RM55.34 and BAT 12 sen to RM52.18 while Hartalega gave up some of the recent gains, down eight sen to RM7.74.



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KLCI reverses earlier losses, closes slightly firmer

KUALA LUMPUR (Feb 3): The FBM KLCI recovered lost ground in the afternoon session on Friday and closed higher as gainers overtook losers, buying into blue chips including Petronas Gas and Sime Darby.

The 30-stock index added 1.68 points to close at 1,538.77.

Gainers led losers by 461 to 399, while 352 counters traded unchanged. Volume was 2.84 billion shares valued at RM2.32 billion.

Asian stocks were mixed, but gains were capped ahead of the economic and employment data scheduled for release later on Friday.

At the regional markets, the Shanghai Composite Index rose 0.77% to 2,330.40, Taiwan’s Taiex added 0.29% to 7,674.99, Hong Kong’s Hang Seng Index edged up 0.08% to 20,l756.98 and Singapore’s Straits Times Index gained 0.58% to 2,917.95.

Meanwhile, Japan’s Nikkei 225 fell 0.61% to 8,831.93 and South Korea’s Kospi lost 0.60% to 1,972.34.

European shares fell slightly on Friday, from six-month closing highs, as investors awaited U.S. jobs data for indications of the strength of the recovery in the world's biggest economy, according to Reuters.

On Bursa Malaysia, United PLANTATION []s jumped RM1.10 to RM21.80, Petronas Gas gained 32 sen to RM16.20, Tradewinds 29 sen to RM10.22, BLD Plantations and GAB 24 sen each to RM8.84 and RM12.64, Delloyd, Gamuda and Sime Darby gained 18 sen each to RM3.68, RM3.90 and RM9.46 respectively, while TDM added 15 sen to RM4.72.

Naim Indah Corp was the most actively traded counter with 260.5 million shares done. The stock rose nine sen to 18 sen.

Other actives included SAAG, DBE Gurney, Karambunai, Compugates, Petronas Chemicals, JCY and DRB-Hicom.

Decliners included KLK, Dutch Lady, F&N, Southern Acids, DKSH, SapuraCrest, Genting, Malayan Flour Mills and Genting Plantations.



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KLCI falls below 1,515 level as Asian markets dip ahead of EU talks

KUALA LUMPUR (Jan 30): Losses at blue chip stocks at Bursa Malaysia dragged the FBM KLCI below the 1,515-point level on Monday as key regional markets fell ahead of more crisis talks among European Union leaders.

The FBM KLCI fell 7.33 points to close at 1,513.55, weighed by losses including at Genting, Hong Leong Bank and HLFG.

Gainers led losers by 460 to 387, while 310 counters traded unchanged. Volume was 2.31 billion shares valued at RM1.84 billion.

At the regional markets, Hong Kong’s Hang Seng Index fell 1.66% to 20,160.41, the Shanghai Composite Index lost 1.47% to 2,285.04, South Korea’s Kospi was down 1.24% to 1,940.55, Japan’s Nikkei fell 0.54% to 8,793.05 and Singapore’s Straits Times Index shed 0.96% to 2,888.96, while Taiwan’s Taiex rose 2.4% to 7,407.41.

The lack of concrete progress in Greek debt talks, which officials have said are on the verge of a deal, kept markets on edge and for the single currency there was an element of profit-taking after its strongest week in more than three months, said Reuters.

The Greek deal is needed before agreement can be reached on a second bailout package which Greece needs to meet a 14.5 billion euro repayment on its debt due in mid-March. Otherwise Athens faces a messy default that could reverberate through European and world markets, it said.

On Bursa Malaysia, BAT fell 58 sen to RM49.38, Maybulk lost 35 sen to RM2.30, Genting down 26 sen to RM10.90, Hong Leong Bank, PPB, HLFG and Nestle fell 20 sen each to RM11.50, RM16.90, RM11.70 and RM55.80 respectively, KLK 18 sen to RM25.72, while Lysaght and Parkson lost 15 sen each to RM1.75 and RM5.57.

DBE Gurney was the most actively traded counter with 155.5 million shares done. The stock fell half a sen to 13 sen.

Other actives included DRB-Hicom, TMS, Pos Malaysua and Compugates.

Among the gainers, Glenealy added 58 sen to RM7.13, Hartalega 29 sen to RM7.19, Batu Kawan and Mentiga 24 sen each to RM19.24 and 90 sen, TDM 21 sen to RM4.57, Puncak Niaga 18 sen to RM1.48 while Tradewinds PLANTATION []s and Malayan Flour Mills added 17 sen each to RM4.85 and RM4.14.



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KLCI slumps nearly 7pts, Genting, HL Bank down

KUALA LUMPUR (Jan 30): Blue chips fell in the afternoon trade on Monday, with Genting and Hong Leong Bank among the major losers despite the broader market displaying more resilience.

At 3.14pm, the KLCI was down 6.93 points to 1,513.97. Turnover was 1.66 billion shares valued at RM1.11 billion. Advancing counters beat decliners 462 to 340 while 292 stocks were unchanged.

European stock index futures pointed to a lower open on Monday as investors continued to book profits after a six-week rally, awaiting to see the details of Greece's debt swap deal and the outcome of yet another European summit, Reuters reported.

China shares fell 1.5% on Monday, with Chinese banks among the top drags after an expected cut in reserve requirement ratio by Beijing failed to materialise over the week-long Lunar New Year holiday.

The Shanghai Composite Index slipped to 2,285.04 points, dipping below the 2,300 level which it only broke on the Friday before the market closed for the new year break

At Bursa Malaysia, consumer stock BAT was down 62 sen to RM49.34 while Nestle lost 30 sen to RM55.70.

Genting lost 26 sen to RM10.90, HL Bank 20 sen to RM11.50 and PPB 30 sen to RM16.80.

Among PLANTATION []s, KLK lost 18 sen to RM25.72 but Batu Kawan added 22 sen to RM19.2, Tradewinds Plantations 21 sen to RM4.89 and Sarawak Plantations 17 sen to RM3.

Maybulk gave up part of the recent gains, falling 29 sen to RM2.36. The company said it was unaware of the surge in the share price and volume last week.

However, on the positive side, takeover targets, Glenealy jumped 57 sen to RM7.1`2 and Lingui 16 sen to RM1.52.

TDM rose to a historic high, up 22 sen to RM4.58, extending its gains from last week and spurred on by comments from Maybank IB Research that the company could be a strategic privatisation target for its relatively low valuation.



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KLCI stays above 1,520-level at mid-day, but caution reigns

KUALA LUMPUR (Jan 30): The FBM KLCI stayed about the 1,520 level at the mid-day break on Monday, but investor sentiment remained generally cautious in line with regional markets that inched down.

Markets are cautiously tuned in to a likely debt swap deal for Greece that is crucial to avoiding a messy default and eyed yet another European summit meeting, according to Reuters.

The FBM KLCI was up 0.25 of a point to 1,521.16 at the mid-day break.

Gainers led losers by 427 to 287, while 308 counters traded unchanged. Volume was 1.28 billion shares valued at RM769.76 million.

The ringgit weakened 0.02% to 3.0435 versus the US dollar; crude palm oil futures for the third month delivery fell RM17 per tonne to RM3,118, crude oil lost 44 cents per barrel to US$99.12, while gold fell US$6.52 an ounce to US$1,732.55.

At the regional markets, Japan’s Nikkei 225 was down 0.47% to 8,799.60, Hong Kong’s Hang Seng Index fell 0.49% to 20,401.30, the Shanghai Composite Index shed 0.32% to 2,311.70, South Korea’s Kospi fell 0.98% to 1,945.48, and Singapore’s Straits Times Index was down 0.57% to 2,899.68 while Taiwan’s Taiex jumped 2.35% to 7,403.47.

On Bursa Malaysia, Glenealy rose 58 sen to RM7.13, Hartalega up 30 sen to RM7.20, GFB 25 sen to RM1.46, Batu Kawan 22 sen to RM19.22, Tradewinds PLANTATION []s 20 sen to RM4.88, TDM, Sarawak Plantations and Puncak Niaga up 19 sen each to RM4.55, RM3.02 and RM1.49 respectively, Dutch Lady 18 sen to RM25.80 and Boustead 17 sen to RM3.59.

DBE Gurney was the most actively trade counter with 58.1 million shares traded. The stock rose half a sen to 14 sen.

Other actives included DRB-Hicom, TMS, Pos Malaysia warrants, Compugates, RedTone and Utopia.

Shipping-related counters were among the major losers this morning, with Maybulk down 31 sen to RM2.34, Bumi Armada down 12 sen to RM3.88 and MISC three sen to RM5.93.

Other decliners included Tasek, KLK, Amway, Parkson, Genting and Berjaya Sports Toto.



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TDM at historic high, privatisation target?

KUALA LUMPUR (Jan 30): TDM BHD [] shares hit a fresh historic high of RM4.57 on Monday, extending its gains from last week and spurred on by comments from Maybank IB Research that the company could be a strategic privatisation target for its relatively low valuation.

At noon, TDM was up 21 sen to RM4.57 with 607,500 shares traded.

Maybank IB Research said TDM was under-appreciated, explaining that since the research house highlighted TDM as an undervalued stock in its 2012 outlook report of Jan 6, the share price had appreciated 15%.

“Still, it remains deep in value, trading at 8.7x 2013 PER with an EV/planted ha of just c.RM27,900 (sector average: RM72,000),” it said.

The research house said the market had also ignored TDM’s long-term growth catalysts, namely the potential doubling of planted area and tripling of hospital beds.

“TDM could be a strategic privatization target for its relatively low valuation. We attach a fair value of RM5.50 (based on 11x 2013 PER) to TDM.

“A further re-rating could come in in 2014 when it reaps the benefits of recently planted landbank and its extended hospital chain,” it said.



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KLCI slips at mid-morning as regional rally takes a breather

KUALA LUMPUR (Jan 27): The FBM KLCI slipped at mid-morning on Friday, in line with the weaker sentiment at key regional bourses as markets took a breather from the recent rally.

At the global markets, a broad asset rally inspired by the US Federal Reserve's pledge to keep rates low paused on Friday, as investors sought to gauge how sustainable the burst of optimism will be while waiting for the outcome of crucial Greek debt talks, according to Reuters.

The FBM KLCI fell 3.74 points to 1,520.12 at 10am, weighed by losses at select blue chips.

Gainers edged losers by 235 to 205, while 252 counters traded unchanged. Volume was 538.98 million shares valued at RM369/81 million.

At the regional markets, Japan’s Nikkei 225 edged down 0.02% to 8,847.62 and South Korea’s Kospi shed 0.14% to 1,954.48, while Hong Kong’s Hang Seng Index added 0.24% to 20,487.90 and Singapore’s Straits Times Index gained 0.25% to 2,901.54.

BIMB Securities Research in a note Jan 27 said it was a mixed trading day on Wall Street on Thursday from a mixed batch of earnings and economic data in the US.

Lower new home sales, higher durable goods orders and higher jobless claims had all placed investors on an indecisive mode, it said.

As a consequence, the Dow Jones Industrial Average erased early gains to end the session 22 points lower, it said.

The research house said whilst negotiations in Athens are still ongoing, most European indices reversed their losses from the past few sessions to chalk up impressive gains possibly on a technical rebound.

As for Asia, equity performances remain strong with almost all closed on a high, it said.

“Locally, the FBM KLCI gained 4 points to close above the 1,520 mark with interests again centred on the lower liners and we expect the same for today.

“It is interesting to note that the MYR is gaining momentum against the greenback hovering at RM3.04/US$1 indicating that funds may be flowing back into the country again.

“Recent calls to overweight the PLANTATION [] sector are bearing fruits and our top calls are Hap Seng Plantations and TH Plantations which are still low on valuations,” it said.

Among the decliners on Bursa Malaysia, Genting Plantations fell 25 sen to RM9.40, TDM 13 sen to RM4.29, Fima Corp 12 sen to RM6.14, Hong Leong Industries nine sen to RM4.30, Public Bank eight sen to RM13.32, Kossan seven sen to RM3.40, while Aeon, Delloyd and Can-One fell six sen each to RM7.40, RM3.44 and RM2.03.

Gainers included IJM Corp, Scicom, Nestle, Hartalega, DRB-Hicom, AZRB, Amway, Shell and MISC, while the actives included TMS, Karyon, DBE Gurney, Jotech, UEM Land and DRB-Hicom.



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