FBMKLCI 1521.18 DJ-140.32 CRUDE OIL100.27 RM 2.9570

Markets could continue to see cautious trade on Friday, May 6, with focus on banks after Bank Negara Malaysia raised the overnight policy rate (OPR) and statutory reserve requirement (SRR). After market close, Bank Negara Malaysia raised the OPR by 25 basis points to 3% during its Monetary Policy Committee (MPC) meeting on Thursday. The central bank said the floor and ceiling rates of the corridor for the OPR were correspondingly raised to 2.75% and 3.25% respectively. 

Fraser & Neave posted net profit of RM131.98 million in the second quarter ended March 31, 2011 versus RM85.23 million a year ago, boosted by the sale of a college building.

Revenue was RM1 billion compared with RM872.09 million. Earnings per share were 36.80 sen versus 23.90 sen. It declared a special interim single tier dividend of 15 sen per share and an interim single tier dividend of 20 sen per share.

Pos Malaysia has viewed TRICUBES BHD []’s venture to send government notices via email as a threat and it would explore ways how it could participate in the project. “We know that this will be a significant threat to the physical mail business,” said Pos Malaysia CEO and group managing director Datuk Syed Faiusal Albar. He said that government mail amounted to RM20 million of its annual revenue.

Daibochi posted net profit of RM4.6 million in the first quarter ended March 31, 2011, down 7.4% from RM5 million a year ago as raw material prices rose.