20051013 Market Roundup JetFM
Bursa lower in line with regional trend
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 1.37 points to 927.12. Volume expanded to 347.42 mln shares valued at RM477.99 mln. Losers outpaced gainers 416 to 216, while 361 counters were unchanged and 424 untraded. The Emas Index dropped 0.53 points to 210.68, while the Second Board fell 0.41 points to 86.85. The market was broadly lower with blue chips among the major losers in the absence of domestic leads to boost sentiment ahead of the 3rd quarter earnings. Among blue chips, both Tenaga at RM10.80 gained 10 sen, Malayan Banking at RM11.50 was unchanged, while Telekom shed 10 sen to RM11.10. The Jakarta Stock Exchange has removed newly listed PT Excomindo Pratama from the benchmark composite index due to decline in the number of shares held by the public.
Naim Indah Corp said its joint venture with Umza Engineering to undertake crude oil and gas services contracts worth RM400 mln, is expected to make a total net profit of RM57 mln over the next 4 financial years to 2008. Naim said Uzma estimates net profit for the projects to be RM7.50 mln in 2005, RM10 mln in 2006, RM14.5 mln in 2007 and RM25 mln in 2008. Naim Indah at 23 sen was flat with 18.72 mln shares done. The counter was today most active.
Maxis Communications is targeting low-income users for growth as mobile penetration in the country approaches saturation, a senior official said. Maxis is aiming to win 41% of the users that exist in the low-income category, which it defines as having a monthly household income of RM1,500 and below, chief operating officer Edward Ying said in an interview. Maxis at RM9.45 decreased 5 sen.
DPS Resources said the Securities Commission (SC) has approved its plan to undertake a private placement of up to 12 mln shares, or not more than 10% of its capital, with investors who will be identified later. It said the SC has also approved its proposed transfer to the Main Board of Bursa Malaysia from the Second Board. DPS was 1 sen lower to 68 sen.
Consolidated Farms submitted a revised restructuring plan to the SC after it rejected an earlier proposal. Consolidated Farms said the revised proposal includes the acquisition of Bun Seng by its new company AimReach, and capital reduction to RM12.53 mln from RM2.08 mln previously. It has also canceled its plan for a proposed restricted offer for sale. Consolidated Farms was not traded at 46 sen. Comsa rose 4 sen to 44.5 sen after it revised its restructuring proposals to a 5-into-3 share capital reduction.
Latexx Partners has proposed to restructure the company to address its accumulated losses of RM73 mln via a debt-to-equity conversion. Latexx at 36 sen declined 2 sen.
Bank Negara and the SC today reveal new initiatives to boost the position of stockbrokers. They said they have extended the framework for investment banks to Universal Brokers (e.g. OSK Securities, Hwang DBS and Apex Securities and Avenue Securities) whose activities almost overlap their. Investment banks have the added edge of access to deposits, while UBs can only borrow in the money market. Simultaneously, MIDF announced it will acquire for cash RM30 mln, the trading license of Penang-based Eng Securities after its business merger with Berjaya Capital's InterPacific Securities.
Among highlights for today, GD Express Carrier at RM1.03 (+2 sen); Globetronics at 29 sen (-2.5 sen); Suremax Group at 23 sen (-9 sen); KUB Malaysia at 44.5 sen (unchanged); Gula Perak at 22 sen (unchanged); PECD at 56.5 sen (-3 sen); Bina Puri Holdings at 78 sen (-4 sen); E&O Property Development at 62 sen (+0.5 sen); CIMB at RM6.30 (+5 sen); KIG Glass Industrial at 7 sen (+0.5 sen); Mobif at RM1.15 (+1 sen); Sanbumi Holdings at 42.5 sen (-1 sen); QSR Brands at RM3.22 (+2 sen); Kulim at RM2.85 (-1 sen).
Regional bourses were in bearish trend except for Hong Kong's Hang Seng at 14,621.83 (+0.32%) and Singapore's STI at 2,320.70 (+0.01%); South Korea's KOSPI at 1,193.44 (-1.94%); Taiwan's TWSE at 5,960.11 (-0.46%); Thailand's SET at 704.78 (-0.62%); Philippines' PCOMP at 1,955.01 (-0.17%); Indonesia's JCI at 1,090.535 (-1.13%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 1.37 points to 927.12. Volume expanded to 347.42 mln shares valued at RM477.99 mln. Losers outpaced gainers 416 to 216, while 361 counters were unchanged and 424 untraded. The Emas Index dropped 0.53 points to 210.68, while the Second Board fell 0.41 points to 86.85. The market was broadly lower with blue chips among the major losers in the absence of domestic leads to boost sentiment ahead of the 3rd quarter earnings. Among blue chips, both Tenaga at RM10.80 gained 10 sen, Malayan Banking at RM11.50 was unchanged, while Telekom shed 10 sen to RM11.10. The Jakarta Stock Exchange has removed newly listed PT Excomindo Pratama from the benchmark composite index due to decline in the number of shares held by the public.
Naim Indah Corp said its joint venture with Umza Engineering to undertake crude oil and gas services contracts worth RM400 mln, is expected to make a total net profit of RM57 mln over the next 4 financial years to 2008. Naim said Uzma estimates net profit for the projects to be RM7.50 mln in 2005, RM10 mln in 2006, RM14.5 mln in 2007 and RM25 mln in 2008. Naim Indah at 23 sen was flat with 18.72 mln shares done. The counter was today most active.
Maxis Communications is targeting low-income users for growth as mobile penetration in the country approaches saturation, a senior official said. Maxis is aiming to win 41% of the users that exist in the low-income category, which it defines as having a monthly household income of RM1,500 and below, chief operating officer Edward Ying said in an interview. Maxis at RM9.45 decreased 5 sen.
DPS Resources said the Securities Commission (SC) has approved its plan to undertake a private placement of up to 12 mln shares, or not more than 10% of its capital, with investors who will be identified later. It said the SC has also approved its proposed transfer to the Main Board of Bursa Malaysia from the Second Board. DPS was 1 sen lower to 68 sen.
Consolidated Farms submitted a revised restructuring plan to the SC after it rejected an earlier proposal. Consolidated Farms said the revised proposal includes the acquisition of Bun Seng by its new company AimReach, and capital reduction to RM12.53 mln from RM2.08 mln previously. It has also canceled its plan for a proposed restricted offer for sale. Consolidated Farms was not traded at 46 sen. Comsa rose 4 sen to 44.5 sen after it revised its restructuring proposals to a 5-into-3 share capital reduction.
Latexx Partners has proposed to restructure the company to address its accumulated losses of RM73 mln via a debt-to-equity conversion. Latexx at 36 sen declined 2 sen.
Bank Negara and the SC today reveal new initiatives to boost the position of stockbrokers. They said they have extended the framework for investment banks to Universal Brokers (e.g. OSK Securities, Hwang DBS and Apex Securities and Avenue Securities) whose activities almost overlap their. Investment banks have the added edge of access to deposits, while UBs can only borrow in the money market. Simultaneously, MIDF announced it will acquire for cash RM30 mln, the trading license of Penang-based Eng Securities after its business merger with Berjaya Capital's InterPacific Securities.
Among highlights for today, GD Express Carrier at RM1.03 (+2 sen); Globetronics at 29 sen (-2.5 sen); Suremax Group at 23 sen (-9 sen); KUB Malaysia at 44.5 sen (unchanged); Gula Perak at 22 sen (unchanged); PECD at 56.5 sen (-3 sen); Bina Puri Holdings at 78 sen (-4 sen); E&O Property Development at 62 sen (+0.5 sen); CIMB at RM6.30 (+5 sen); KIG Glass Industrial at 7 sen (+0.5 sen); Mobif at RM1.15 (+1 sen); Sanbumi Holdings at 42.5 sen (-1 sen); QSR Brands at RM3.22 (+2 sen); Kulim at RM2.85 (-1 sen).
Regional bourses were in bearish trend except for Hong Kong's Hang Seng at 14,621.83 (+0.32%) and Singapore's STI at 2,320.70 (+0.01%); South Korea's KOSPI at 1,193.44 (-1.94%); Taiwan's TWSE at 5,960.11 (-0.46%); Thailand's SET at 704.78 (-0.62%); Philippines' PCOMP at 1,955.01 (-0.17%); Indonesia's JCI at 1,090.535 (-1.13%).
posted by emacro @ 5:23 AM
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