Wednesday, 7 March 2012

Maxis to boost pre-paid market share with Hotlink Bagus

PETALING JAYA (March 7): Maxis Bhd aims to strengthen its pre-paid market share with the launch of its all-in-one pre-paid plan, Hotlink Bagus.

Joint Chief Executive Officer Suren J. Amarasekera said currently its pre-paid market share stands at 38 per cent with 11.3 million subscribers.

"We want to continue dominating the pre-paid market share, not only in the growth of revenue-generating subscribers but also in terms of usage," he told reporters after unveiling Hotlink Bagus on Wednesday.

Hotlink Bagus provides customer access to all the five integrated categories -- voice calls, SMS, surfing, international direct dialing and roaming.

"It's all-in-one pack at the lowest rates, the lowest rates Maxis has ever offered to its customers. This will have a huge impact on customers' lives, especially in terms of convenience and savings," he said.

With the Bagus plan, Suren said Hotlink is also making inroads into migrants and the tourist market on top of its existing youth, students and working adults' markets.

"We're the only integrated operator in the country. There will be more bundled products to be offered soon," he said.

Hotlink Bagus was launched simultaneously at 16 major locations nationwide on Wednesday.

To date, Maxis has 14 million subscribers for both post-paid and pre-paid services. Slightly more than 50% of its revenue comes from the pre-paid segment. - Bernama



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OSK Property to buy 13.7 acres of Shah Alam industrial land for RM45.4m

KUALA LUMPUR (Macrh 7): OSK PROPERTY HOLDINGS BHD [] has proposed to acquire two parcels of adjoining industrial land, measuring 13.73 acres or 598,408 sq. ft in Taman Perindustrian Subang Utama for RM45.42 million.

It said on Wednesday it was acquiring the land from Perniagaan Sri Mujur Maju Sdn Bhd at about RM75.90 per sq ft.

“The land has been approved with development order for 16 semi-detached factories with land sizes and built-up ranging from 17,900 sq ft to 50,800 sq ft and 14,896 sq ft to 60,076 sq ft respectively,” it said.

OSK Property said based on preliminary plans, it proposed to revise and enhance the development plan by offering smaller industrial units to increase affordability and saleability.

It said the proposed acquisition would enable OSK Property to diversify its development portfolio to include small medium industrial factories and to expand its geographical coverage to Shah Alam.

It added there was a demand for supplementary services and smaller semi-detached factories costing RM2 million to RM3 million per unit.

“Subject to the necessary development approvals being obtained, the group targets to launch the development on the land by the fourth quarter of 2012,” it said.



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Pelikan to reward shareholders with 1 treasury share for every 50 held

KUALA LUMPUR (March 7): Pelikan International Corporation Bhd plans to reward its shareholders with one treasury share for evey 50 existing shares held for FY ended Dec 31, 2011.

It said on Wednesday the board also recommended a final cash dividend of one sen per share single tier dividend.



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WinSun get LOI to supply 60,000 tonnes of iron ore a month

KUALA LUMPUR (March 7): WINSUN TECHNOLOGIES BHD []’s unit has received a letter of intent from Ningbo Shanghao Mining Investment Co. Ltd to buy 60,000 tonnes of iron order month over two years.

WinSun said on Wednesday the group was on track to diversify into the trading of raw materials for its clients which were mainly companies involved in the heavy industries.

It said that its unit WinSun Engineering Sdn Bhd would have to supply to Ningbo Shanghao 720,000 tonnes of high grade iron ore a year, or 1.44 million tonnes during the two-year contract.



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Market Commentary

The FBM KLCI index lost 15.08 points or 0.95% on Wednesday. The Finance Index fell 0.82% to 14089.39 points, the Properties Index dropped 0.69% to 1050.54 points and the Plantation Index down 0.52% to 8600.14 points. The market traded within a range of 12.87 points between an intra-day high of 1585.30 and a low of 1572.43 during the session.

Actively traded stocks include NICORP, HWGB, SILVER, HWGB-WB, CSL, AMEDIA, ENVAIR, KEYWEST, GOCEAN and TECFAST. Trading volume increased to 1742.64 mil shares worth RM2030.26 mil as compared to Tuesday’s 1288.12 mil shares worth RM1792.17 mil.

Leading Movers were ARMADA (+3 sen to RM4.23), UMW (+3 sen to RM7.19), RHBCAP (+4 sen to RM7.76), PETDAG (+4 sen to RM18.50) and MMHE (+2 sen to RM5.32). Lagging Movers were SIME (-19 sen to RM9.80), CIMB (-11 sen to RM7.31), GENTING (-18 sen to RM10.74), MAYBANK (-8 sen to RM8.71) and YTL (-6 sen to RM1.69). Market breadth was negative with 283 gainers as compared to 476 losers. -- JF Apex Securities Bhd



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Brahim’s 17.9m new placement shares fixed at RM1.10 each

KUALA LUMPUR (March 7): Brahim’s Holdings Bhd has fixed the issue price of up to 17.90 million new shares to be placed out at RM1.10 per placement share.

It said on Wednesday the shares represented up to 10% of the paid-up share capital.

Brahim’s said the issue price was 0.9% below the five-day volume weighted average price up to and including March 6, which was the market day immediately preceding the price fixing date of RM1.11.



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KLCI falls the most in 2012

KUALA LUMPUR (March 7): Blue chips closed lower on Wednesday, with the FBM KLCI among the biggest losers among the key regional markets as it fell the most so far this year on uncertainties whether Greece could secure enough support for its debt revamp.

At the close, the KLCI was down 15.08 points to 1,574.83, which could derail the recent rally which saw the 30-stock index poised to hit the all-time high of 1,597 in July last year.

Turnover was 1.74 billion shares valued at RM2.03 billion. However, the broader market did show some improvement with losers beating gainers 476 to 283 while 314 stocks were unchanged.

Reuters reported a clutch of Greek pension funds and some foreign investors are holding back on a bond swap deal which would enable Greece to meet a debt repayment on March 20, sparking concerns about a chaotic default if participation is low. Greek private creditors have until late Thursday to say whether they will take part.

Key regional markets fell, with the Nikkei 225 down 0.64% to 9,576.06, the Hang Seng Index 0.86% to 20,627.70, Shanghai Composite Index 0.65% to 2,394.79, Taiwan’s Taiex 0.44% to 7,903.08, the Kospi 0.91% tp 1,982.15 and Singapore’s Straits Times Index 0.58% to 2,915.03.

As for Bursa Malaysia, dealers said the pullback was expected as the KLCI was running counter to the key regional markets on Tuesday which fell up to 2%.

They said there was some trading activity in lower liners and penny stocks but this did not have much bearing on the market’s direction.

They also saw no reason for Naim Indah Corp to jump 13.5 sen to 65.5 sen in the absence of any positive fresh news.

Sime Darby fell the most, down 19 sen to RM9.80 and dragging the KLCI down 2.70 points. CIMB lost 11 sen to RM7.31, Genting 18 sen to RM10.74 and Maybank eight sen to RM8.71, pushing the 30-stock index down by a total of 4.93 points.

BAT was the top loser, down 56 sen to RM51.96, HLFG 40 sen to RNM12.10, Batu Kawan 24 sen to RM18.70, MISC 23 sen to RM5.38 and Oriental 21 sen to RM6.28 and Genting PLANTATION []s 20 sen to RM9.29.

Dijaya Corp fell 18 sen to RM1.49 and the warrants 8.5 sen to 54.5 sen.



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Regional markets in the red, KLCI dn nearly 13 pts

KUALA LUMPUR (March 7): All key regional market fell in the morning session on Wednesday, extending their losses from the previous day on renewed uncertainty over Greece's bailout and mounting worries about slowing global economies.

At 12.30pm, the FBM KLCI staged a correction, falling 12.98 points or 0.82% to 1,576.93. Turnover was 941.31 million shares valued at RM939.97 million. Losers beat gainers 515 to 158 while 262 counters were unchanged.

Japan’s Nikkei 225 lost 0.81% to 9,559.45, Hong Kong’s Hang Seng Index fell 0.75% to 20,649.46, Taiwan’s Taiex 0.37% to 7,908.40, South Korea’s Kospi 0.81% to 1,984.25 and Singapore’s Straits Times Index 0.58% to 2,914.97.

US light crude oil rose 43 cents to US$105.13 while crude palm oil futures fell RM9 to RM3,233 per tonne. The ringgit weakened to RM3.0288 against the US dollar.

BIMB Securities Research said it had expected the overnight fall on Wall Street to cause some negative knee-jerk reactions “but (we) see this as a very good opportunity to accumulate on weakness”.

Dealers said retail participation in the market had been low, with traders punting on lower liners and speculative counters. They added local funds were mostly the bigger players in the trading of blue chips and big cap stocks.

CIMB was the biggest drag on the KLCI. It fell 11 sen to RM7.31, pushing the index down by 1.94 points.

HLFG fell the most, down 40 sen to RM12.10, Genting PLANTATION []s 20 sen to RM9.29, MISC 20 sen to RM5.40, Genting 18 sen to RM10.74 and PPB 14 sen to RM16.72.

Dijaya fell 12 sen to RM1.55 and the warrants five sen to 58 sen in active trade, but they were off their intra-morning lows.

Naim Indah was the most active with 204.60 million shares done, up 10.5 sen to 62.5 sen, bucking the weaker market. Silver Bird added five sen to 23.5 sen.

Among the gainers were Ta Ann, up nine sen to RM5.76 and Esso seven sen to RM3.69. Advanced Packaging rose 15 sen to RM1.40 and Iretex 13 sen to RM1.10.



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