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 1518.77 DJ no market CRUDE OIL 97.37 RM 3.00

Asian markets experienced choppy trade yesterday as conflict in the Middle East affected investor sentiment with oil prices rising and gold surging to a seven-week high. Crude oil climbed US$1.94 to US$88.14 per barrel at 5pm with spot gold surging US$8.80 to US$1,398.32 per ounce.

 

Malayan Banking Bhd (Maybank) posted a net profit of RM1.13bil, or 15.72 sen per share, for its second quarter ended Dec 31, 13.7% higher than the RM993.5mil, or 14.04 sen per share, reported in the same quarter of 2009 after almost all segments performed better and bad loan provisions were lower.

TH Plantations’ fourth quarter earnings rose 88.7% to RM42.55 million from RM22.54 million a year ago mainly due to higher prices for crude palm oil and palm kernel when compared to a year ago. It said on Monday, Feb 21 its revenue rose 47% to RM128.53 million from RM87.35 million. Earnings per shares were 8.71 sen compared with 4.62 sen a year ago. It proposed dividend payout of 12.5 sen per share. It had cash of RM130.56 million as at Dec 31, 2010.

UNITED PLANTATIONS BHD []’s net profit for the fourth quarter ended Dec 31, 2010 rose 19.9% to RM81.88 million from RM68.29 million a year earlier, due to higher crude palm oil (CPO) palm kernel (PK) selling prices. Its revenue rose 53% to RM302.83 million from RM197.88 million in 2009. Earnings per share were 39.24 sen while net assets per share was RM8.51. The company has proposed a final dividend of 15 sen net per share and a special dividend of 26.25 sen net per share for the year ended Dec 31, 2010.

ALLIANCE FINANCIAL GROUP BHD [] said its net profit rose 11.22% to RM111.12 million in the third quarter ended Dec 31, 2010 from RM99.91 million a year ago, driven by higher net interest income and lower overheads. Revenue rose to RM284.98 million from RM278.27 million. Earnings per share were 7.30 sen while net assets per share was RM2.15.  AFG proposed dividend of 3.70 sen per share. For the nine months ended Dec 31, its net profit rose to RM324.2  million from RM224.17 million a year ago, on the back of revenue RM858.18 million.

Parkson Retail Group Ltd, the Beijing-based department-store chain controlled by Malaysia’s Lion Group, will accelerate its expansion in China in the next three years. The company will open 8 to 9 stores a year through 2013, after opening 5 last year, Managing Director Alfred Cheng told reporters in Hong Kong. The retailer said 2010 net income jumped 9 per cent to 992 million yuan (US$151 million), compared with the 1.07 billion yuan average of 13 analyst estimates compiled by Bloomberg.