FBMKLCI 1536.27 DJ-68.79 CRUDE OIL 97.78 RM 2.9720

US blue-chip stocks fell on Tuesday, extending Monday's losses after data showed the housing sector remained deeply depressed in April and Hewlett-Packard painted a dim picture for personal computer sales.  The Dow Jones Industrial Average of 30 blue-chip stocks closed down 68.79 points (0.55 per cent) at 12,479.58.

EON CAPITAL BHD [] has declared a special tax exempt dividend of RM5.16 per share. The dividend will go ex on June 9 while the entitlement date is June 13.

United PLANTATION []s Bhd posted net profit of RM86.09 million in the first quarter ended March 31, 2011, up 76% from RM48.90 million a year ago and it expects the current financial year results to be better, boosted by more replanting. It declared a final dividend of 20% per share or 15 sen net per share and a special dividend of 35% per share or 26.25 sen net per share. The dividends will go ex on June 30.

Investors can expect more upside from United Plantations after its comments that palm oil production in Malaysia and Indonesia was expected to recover in 2011 based on the recovery in the biological yield cycle after a pronounced setback in 2010.

Ideal Jacobs (Malaysia) Corp, a manufacturer of industrial labels and name-plates, surged on its listing debut on the Kuala Lumpur stock exchange. The stock almost tripled to 70 sen at 9:02 a.m. local time in Kuala Lumpur trading. The company sold shares at 27 sen each in its initial public offering, according to its prospectus.

MMC CORPORATION BHD [] plans to list its subsidiaries -- Gas Malaysia Sdn Bhd and Malakoff Bhd -- and also its unit Johor Port. MMC group managing director Datuk Hasni Harun said the first company to be likely listed would be its 51% owned Gas Malaysia. Hasni said Malakoff is worth about RM7 billion currently while Gas Malaysia and Johor Port are worth RM5 billion and RM1.5 billion respectively.

IOI CORPORATION BHD [] reported net profit of RM656.71 million in the third quarter ended March 31, 2011, up 19.6% from the RM549.02 million a year ago, boosted by the better overall performance of the group, especially plantations. Its 3QFY11 pre-tax profit of RM780.86 million was 10% higher than the RM709.27 million a year ago. Revenue rose 37.7% to RM4.34 billion from RM3.15 billion while earnings per share were 10.25 sen versus 8.6 sen. For the nine-months ended March 31, 2011 (9MFY11), it said net profit was RM1.74 billion compared with RM1.52 billion a year ago. Revenue was higher at RM11.83 billion versus RM9.48 billion.

Digistar Corp Bhd’s earnings surged to RM4.57 million in its second quarter ended March 31, 2011 from only RM457,000 a year ago underpinned by better profit margins from its system integration and broadcast engineering projects. Its revenue jumped 91.5% to RM23.57 million from RM12.31 million a year ago while earnings per share were 2.31 sen compared with 0.26 sen.

FABER GROUP BHD []’s subsidiary and the joint venture partner have been unable to secure any of the business in the building maintenance services and clinical waste management in Brunei. Its 70% owned Faber Medi-Serve Sdn Bhd and its joint venture agreement (JVA) with Brufors Technical Services had acknowledged the JVA had lapsed as they had failed to sure any business.

ESSO MALAYSIA BHD []’s earnings surged 154% to RM154.82 million in the first quarter ended March 31, 2011 from RM60.94 million a year ago, boosted by inventory holding gains. Revenue rose 30% to RM2.6 billion from RM2 billion reflecting higher average product prices and increased retail volume. Earnings per share were 57.30 sen compared with 22.60 sen.

AMMB Holdings Bhd, Malaysia’s fifth-biggest lender, said fourth-quarter profit rose to RM316.3 million from RM241.7 million a year earlier

FBMKLCI 1513.84 DJ+84.54 CRUDE OIL 105.47 RM 2.9980

SEGi said it has set a dividend policy to distribute a minimum of 50% of the group net profits to its shareholders, with effect from the financial year ending Dec 31, 2011. SEGi said the board believes that the dividend payout of a minimum of 50% of its net profits is within the group’s financial capability considering its future earnings growth.

Both Axiata Group Bhd and Telekom Malaysia Bhd (TM) have barred Alcatel-Lucent from participating in tenders, contracts or joint ventures for a year following the call from Malaysian Anti-Corruption Commission (MACC). “Alcatel-Lucent welcomes the MACC recommendation and is committed to earning back our customers' trust,” it said in a statement in response to the 12-month suspension.  Axiata said the suspension runs for 12 months from Feb 18 while TM's suspension was effective Jan 5.

Gamuda’s  net profit for the second quarter ended Jan 31, 2011 rose 19.6% to RM94.03 million from RM78.63 million a year earlier, mainly due to higher contributions from all its divisions. Revenue rose marginally to RM607.19 million from RM603.24 million. Earnings per share were 4.59 sen, while net asset per share was RM1.74.For the six months ended Jan 31, Gamuda’s net profit rose to RM182.56 million from RM152.66 million in 2010.

Ramunia's net profit for the first quarter ended Jan 31, 2011 fell to RM1.1 million from RM3.42 million a year earlier due mainly to the tail end of the remaining projects billings and lower operating income. Revenue slumped to RM1.36 million from RM15.85 million in 2010. Earnings per share were 0.17 sen while net assets per share was 25.1 sen. Reviewing its results and commenting on its prospects, Ramunia said it was finalising its PN 17 regularisation plan.

Digistar, it said with the secured order book of RM102 million, it is in the midst of tendering and bidding of additional of RM130 million worth of contract and project of broadcasting jobs in Malaysia. “The company is in the view that, once secure with additional contracts, barring any unforeseen circumstances, the expectation in rise of additional revenue in FY2011 shall increase around 30% to 40%, if compared to recorded revenue of RM73 million in FY10,” it said in reply to a query from Bursa Securities.

Eastern & Oriental Bhd’s (E&O) wholly-owned subsidiaries E&O Property Development Bhd and Samudra Pelangi Sdn Bhd has proposed to dispose of their entire securities interest in Fututech Bhd for RM8.78mil cash.

OSK Property Bhd bought 16 acres of prime freehold commercial land in Cyberjaya’s flagship zone from Setia Haruman Sdn Bhd for some RM86.5mil.

Sarawak plywood mills’ plans to raise their production to meet an anticipated high demand from Japan for the reconstruction of Sendai, a Pacific coastal town destroyed by a magnitude-9 earthquake and tsunami, will be hampered by a shortfall in the supply of raw material.