JCY International up after upgrade by OSK Research

KUALA LUMPUR (Dec 23): JCY International Bhd shares rose on Friday after OSK Investment Research raised its recommendation on JCY Trading Buy from Sell.

At 9.35am, JCY added half a sen to 91.5 sen with 844,400 shares traded.

OSK Research on Thursday upgraded the TECHNOLOGY [] sector to Neutral and said that better HDD pricing could help mitigate losses from the Thailand flood.

It said that against the backdrop of the massive works in progress to restore operations following Thailand’s crippling floods, the worst could well be over.

The research said it had become less bearish on the hard-hit HDD components sector given the ongoing accelerated restoration as well as potential price hike over the immediate term, which could mitigate the earnings pressure from forgone capacity in the short term.

“As for JCY, we are raising our earnings forecast by more than 100% as their equipment was unscathed. Valuation switched from 0.9x PBV to 8x FY12 PER.

“Call upgraded to Trading Buy with Fair Value of RM1.30. Understand that there are rumours of a strong price push over the next 1 month,” it said.



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HELP International dips to 1-week low

HELP International Corp, a provider of higher education, fell to the lowest level in a week in Kuala Lumpur trading after fourth-quarter net income slid 45 per cent to RM3.6 million from a year earlier.

The stock declined 2.9 per cent to RM1.66 at 9:17 a.m. local time, set for its lowest close since Dec. 14. -- Bloomberg



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HELP retreats on weaker 4Q earnings

KUALA LUMPUR (Dec 23): HELP INTERNATIONAL CORPORATION [] Bhd shares retreated in early trade on Friday after its net profit for the fourth quarter ended Oct 31, 2011 fell 44.6% to RM3.59 million from RM6.47 million a year earlier, due to new student recruitment affected by delays in obtaining licences and approvals for operations.

At 9.20am, HELP fell five sen to RM1.66 with 2,000 shares traded.

Revenue for the quarter rose to RM28.44 million from RM27.33 million in 2010.

HELP had proposed a final gross dividend of two sen per share of 50 sen each, amounting to RM2.13 million for the financial year ending Oct 31, 2011.



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MRCB shares rise on Sabah EPF building upgrade contract

KUALA LUMPUR (Dec 23): MALAYSIAN RESOURCES CORPORATION BHD shares edged up on Friday after its unit MRCB Engineering Sdn Bhd has been awarded a RM13.93 million contract to upgrade the Sabah Employees Provident Fund (EPF) building.

At 9.26am, MRCB gained two sen to RM2.09 with 191,300 shares done.

MRCB said on Thursday that the project involved renovating and upgrading the EPF Building in Kota Kinabalu, Sabah of approximately 400,000 square feet.

MRCB said the project would be financed via internally generated funds and/or borrowings, and completed within 18 months from Jan 16, 2012.



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TSM Global falls on RM21m net loss

TSM Global Bhd., a Malaysian automotive-parts manufacturer, dropped to the lowest level in a week in Kuala Lumpur trading after posting third-quarter net loss of RM21.1 million, compared with a RM8.1 million profit a year earlier.

The stock lost 1.8 per cent to RM1.10 at 9:06 a.m. local time, set for its lowest close since Dec 15. -- Bloomberg



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Muhibbah surges after winning Aussie jobs

Muhibbah Engineering (M) Bhd, a Malaysian builder, gained the most in two months in Kuala Lumpur trading after its joint venture with Australia’s Monadelphous Group Ltd won a A$330 million (US$334 million) contract to construct a coal jetty and ship berth in Queensland.

The stock surged 6.5 per cent to RM1.15 at 9:02 a.m. local time, set for its steepest increase since Oct 19. -- Bloomberg



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KLCI rises in tandem with regional markets

KUALA LUMPUR (Dec 23): The FBM KLCI rose in early trade on Friday, in line with the gains at regional markets and the firmer overnight close at Wall Street.

At 9.10am, the FBM KLCFI was up 3.84 points to 1,495.30.

Gainers led losers 111 by 44, while 126 counters traded unchanged. Volume was 49.64 million shares valued at RM29.61 million.

Among the early gainers were BAT, CCM, KLK, CIMB, Muhibbah, Genting, IGB, PacificMas, Perisai and Supermax.



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Perisai advances on better 2012 outlook

KUALA LUMPUR (Dec 23): PERISAI PETROLEUM TEKNOLOGI [] Bhd share rose in active trade on Friday after the company said it expects contribution from its mobile offshore production unit (MOPU), which it acquired through Garuda Energy (L) Ltd to be realised by FY12.

At 9.08am, Perisai was up 4.5 sen to 73 sen with 4.4 million shares done.

Its managing director Zainol Izzet Ishak said on Thursday that the acquisition would be finalised by the end of this year and will start contributing to the group's bottom line from the first day of its operation as the group's asset.



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