FBMKLCI 1528.43 DJ-83.93 CRUDE OIL108.62 RM2.9450

New stock listing

No.  Stock  Code    Stock Name     Reference Price      Lower Limit     Upper Limit

1.    0168                BOILERM          0.33                          0.03                  1.65

Boilermech designs and manufactures biomass boilers. Its offer price is 33 sen while OSK Research has fair value of 45 sen.

Fitters, whose share price fell after it faced the threat of suspension on May 10, said it had set Friday as the deadline to submit the audited financial statement to avoid suspension.

Ingenuity, which was queried over unusual market activity, will sign an MoU on Thursday, to submit an integrated hospital information system to the Health Ministry. The system is to interlink hospitals and clinics in Malaysia to the ministry

Pos Malaysia holds its shareholders meeting late Thursday morning. There are expectations of strong response from minority shareholders over the acquisition of Khazanah Nasional’s stake in the national postal company by DRB-Hicom.

Seven companies have been shortlisted for the first phase of the US$2.5 billion (RM7.45 billion) infrastructure of Brazil’s Vale International project. Among them are MUHIBBAH ENGINEERING (M) BHD [], Gadang Bhd and Sunway CONSTRUCTION [] Bhd.

Bursa Securities has rejected construction firm Golden Plus Holdings Bhd’s application for an extension of two weeks for the submission of the company’s audited financial statements for the financial year ended Dec 31, 2010.

 

Lion buys stake in S’pore steel firm.
Lion Industries Corp Bhd (LICB) will be acquiring a 50% stake in Angkasa Hong Leong Pte Ltd, from Hong Leong Asia Ltd for S$15.3mil (RM36.6mil) as it looks to expand into the downstream steel operations business.
Property developer Mutiara Goodyear Development Bhd is acquiring 40% stake in Palmington Sdn Bhd, a unit of Tambun Indah Land Bhd, for RM2.34mil cash in a move to jointly develop 527 acres in Seberang Perai.

FBMKLCI 1487.53 DJ -142.21 CRUDE OIL: 81.23 RM: 3.081

Stocks fell Tuesday as a flare-up of tensions between North and South Korea combined with downbeat news on the economy gave investors plenty of reasons to sell ahead of the Thanksgiving holiday. The dollar and gold rose as investors sought safe places to park money. 

  

MRCB and IJM Land Bhd yesterday announced their proposed merger exercise, which will create the country's second largest property player after the enlarged UEM Land Holdings Bhd, with a market capitalisation exceeding RM7 billion and a land bank of over 9,000 acres. 

Market observers are speculating that a “marriage” of sorts is on the cards for SunCity and Sunway Holdings Bhd, after both companies had their shares suspended from trading for two days from yesterday, pending a material announcement on a corporate exercise. 

Gadang Holdings Bhd is bidding for several engineering and construction projects totalling more than RM2 billion and the company anticipates stronger earnings for the financial year 2011 ended May 31.

LionInd’ 1QFY11 net loss of RM18.8m. The poor results were mainly attributed to the arrival of expensive feed material, namely iron ore and scrap metal, which were mismatched with weakening selling prices.

Parkson Holdings announced that it is selling its 100% equity interest in Shantou Parkson to its 51.5% owned subsidiary - Parkson Retail (PRG).

Msports 9MFY10 earnings of RM49.2m. Production volume increased by 34% to 23.4m in 9MFY10 while average selling price improved by 4.4% to RMB18.9 per pair, mainly driven by the higher demand for EVA MD products.

MPHB posted net profit of RM86.49 million in the third quarter ended Sept 30, up 70% from RM50.73 million a year, boosted by its gaming and stockbroking operations. Revenue was 4.6% higher at RM850.7 million compared with RM813.24 million a year ago.

MUDAJAYA GROUP BHD net profit rose 31.8% to RM46.55 million for the third quarter ended Sept 30, 2010 from RM35.32 million a year ago, mainly due increased level of activities.