FBMKLCI 1508.99 DJ+29.97 CRUDE OIL 89.09 RM 3.011

Most emerging equity markets in Asia have been experiencing sell-downs in recent weeks with foreign funds shifting their money to the more matured markets even as inflation in the region becomes more of a concern. Extreme weather conditions in most parts of food-producing countries such as Russia, Latin America, Australia and China have kept food grain prices at historical high levels globally, pushing inflation levels up. And emerging markets especially those in Asia, where grains are consumed the most, have been most affected.

Favelle Favco secured RM123.20 million in contracts to supply eight cranes which would be delivered to eight buyers from early this year to 2012. The crane builder said it expected the contracts to contribute positively to the earnings and net assets for the financial year ending Dec 31, 2011 and beyond.

MBM Resources' net profit for the fourth quarter (4Q) ended Dec 31, 2010 rose 36.2% to RM28.2 million from RM20.7 million a year ago, driven by the overall strong total industry (TIV) volume in the automotive sector. Revenue for the quarter rose to RM389.88 million from RM292.46 million in 2009. Earnings per share was 11.64 sen, while net assets per share was RM4.19.  It declared a special second tax-exempt interim dividend of five sen per share totaling RM12.13 million, and a special tax-exempt dividend of three sen per share totaling RM7.28 million. For the financial year ended Dec 31, MBM's net profit surged to RM141.24 million from RM66.53 million a year earlier, on the back of revenue RM1.55 billion.

Wah Seong’s earnings fell 28.9% to RM24.76 million in the fourth quarter ended Dec 31, 2010 from RM34.84 million a year ago due to the lower number of projects and unfavourable effect of foreign exchange fluctuations. Revenue fell 12.7% to RM397.23 million from RM455.07 million while earnings per share were 3.2 sen compared with 4.5 sen. It proposed dividend of 2.5 sen per share. For the financial year ended Dec 31, 2010, the net profit fell 53.8% to RM55.98 million from RM121.32 million in FY09. Revenue fell 21.9% to RM1.523 billion from RM1.950 billion.

Daibochi declared a fourth interim dividend of 3.50 sen, tax exempt, to be paid on March 30.

SBC Corp Bhd posted net profit of RM6.81 million in the third quarter ended Dec 31, 2010 when compared with RM2.02 million a year following higher revenue from its CONSTRUCTION [] projects.

Revenue climbed 95% to RM54.80 million from RM28.03 million while earnings per share were 8.26 sen versus 2.45 sen a year ago.