Malaysia will unveil its economic transformation program in October, Prime Minister Najib Razak said in parliament in Kuala Lumpur today.
Malaysia will set up an economic transformation unit to plan and coordinate the implementation and development of the government’s so-called national key economic areas aimed at generating high income, he said.
Malaysia will target private investment growth of 12.8 percent a year, Prime Minister Najib Razak said as he unveiled the nation’s five-year development plan in Kuala Lumpur today.
The country aims to generate 115 billion ringgit in private investments a year, Najib said.
Malaysia’s government expects economic growth to average 4.2 percent in the 2006-2010 period, Prime Minister Najib Razak said in Kuala Lumpur today.
Gross national income per capita may reach 26,420 ringgit in 2010, Najib said as he unveiled the nation’s five-year plan in parliament.
Wednesday, June 9, 2010
Thursday, June 3, 2010
Malaysia Equity Preview - June 4,2010
June 4 (Bloomberg) -- The following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses, and share prices are from the most recent close.
Malaysia’s FTSE Bursa Malaysia KLCI Index rose 1.4 percent to 1,294.44.
Axis Real Estate Investment Trust (AXRB MK): The Islamic office and industrial REIT said it agreed to buy two industrial properties in the states of Selangor for 134 million ringgit
($41 million). The company also may raise about 130.1 million ringgit from a private share placement to repay debt, it said in a statement. The stock fell 1 percent to 2 ringgit.
Boustead Heavy Industries Corp. (BHIC MK): The Malaysian shipbuilding and engineering company said it agreed to form a joint venture with two companies including Eurocopter Malaysia Sdn. to maintain, repair and overhaul rotary and fixed wing aircrafts. Boustead climbed 2.5 percent to 3.69 ringgit on June 2.
Kenmark Industrial Bhd. (KIC MK): The furniture maker said businessman Ishak Ismail has bought a 32 percent stake in the company and it’s in talks with receivers to resume business operations at its paper unit. Kenmark also appointed a special auditor to undertake an investigation into the financials of the company to identify any potential irregularities, it said in a statement. Kenmark gained 92 percent to 11.5 sen on June 2 before its shares were suspended.
Mega First Corp. (MFCB MK): The Malaysian heavy equipment manufacturer, said it signed a preliminary agreement with Electricite Du Laos to develop a hydropower project in Laos.
Mega First added 1.3 percent to 1.61 ringgit.
SP Setia Bhd. (SPSB MK): The Employees Provident Fund, Malaysia’s largest pension fund, disclosed net purchases of 1.2 million shares in the nation’s biggest property developer, a stock exchange filing showed. The purchases increased the fund’s stake to 15.8 percent. SP Setia rose 1.8 percent to 3.98 ringgit.
Malaysia’s FTSE Bursa Malaysia KLCI Index rose 1.4 percent to 1,294.44.
Axis Real Estate Investment Trust (AXRB MK): The Islamic office and industrial REIT said it agreed to buy two industrial properties in the states of Selangor for 134 million ringgit
($41 million). The company also may raise about 130.1 million ringgit from a private share placement to repay debt, it said in a statement. The stock fell 1 percent to 2 ringgit.
Boustead Heavy Industries Corp. (BHIC MK): The Malaysian shipbuilding and engineering company said it agreed to form a joint venture with two companies including Eurocopter Malaysia Sdn. to maintain, repair and overhaul rotary and fixed wing aircrafts. Boustead climbed 2.5 percent to 3.69 ringgit on June 2.
Kenmark Industrial Bhd. (KIC MK): The furniture maker said businessman Ishak Ismail has bought a 32 percent stake in the company and it’s in talks with receivers to resume business operations at its paper unit. Kenmark also appointed a special auditor to undertake an investigation into the financials of the company to identify any potential irregularities, it said in a statement. Kenmark gained 92 percent to 11.5 sen on June 2 before its shares were suspended.
Mega First Corp. (MFCB MK): The Malaysian heavy equipment manufacturer, said it signed a preliminary agreement with Electricite Du Laos to develop a hydropower project in Laos.
Mega First added 1.3 percent to 1.61 ringgit.
SP Setia Bhd. (SPSB MK): The Employees Provident Fund, Malaysia’s largest pension fund, disclosed net purchases of 1.2 million shares in the nation’s biggest property developer, a stock exchange filing showed. The purchases increased the fund’s stake to 15.8 percent. SP Setia rose 1.8 percent to 3.98 ringgit.
Monday, May 31, 2010
Malaysia Equity Preview - June 1,2010
June 1 (Bloomberg) -- The following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses, and share prices are from the most recent close.
Malaysia’s FTSE Bursa Malaysia KLCI Index rose 1.3 percent to 1,285.01.
AirAsia Bhd. (AIRA MK): Southeast Asia’s largest budget carrier reported a 10 percent increase in first-quarter profit after flying more passengers and added routes. Net income totaled 224.1 million ringgit ($69 million) in the three months ended March, compared with 203.2 million ringgit the year before, it said in a statement. AirAsia gained 4.3 percent to 1.22 ringgit.
Affin Holdings Bhd. (AHB MK): The banking group part-owned by Hong Kong’s Bank of East Asia Ltd. said it submitted an application to Malaysia’s central bank to commence takeover talks with EON Capital Bhd. (EON MK) and its major shareholders.
Affin added 0.7 percent to 2.90 ringgit. EON gained 2 percent to
7.01 ringgit.
Alliance Financial Group Bhd. (AFG MK): The banking group said fourth-quarter net income surged to 77.3 million ringgit from 897,000 ringgit a year earlier, after net interest income rose and provisions for bad debts declined. Alliance gained 1.1 percent to 2.78 ringgit.
Maxis Bhd. (MAXIS MK): Malaysia’s biggest mobile-phone operator posted a profit of 552 million ringgit in the first quarter compared with a loss of 42 million ringgit a year earlier after adding more customers to its wireless broadband services. Maxis slid 0.4 percent to 5.22 ringgit.
RHB Capital Bhd. (RHBC MK): Malaysia’s fourth-largest banking group said first-quarter net income rose 53 percent from a year earlier to 349.7 million ringgit, after net interest income increased and bad debt provisions dropped. RHB Capital added 0.2 percent to 5.75 ringgit.
Sealink International Bhd. (SELI MK): The Malaysian builder and operator of offshore marine vessels said it agreed to hire advisors to conduct a feasibility study on its plan to list a shipbuilding division. The company is considering “several locations” for the listing, it said in a statement. Sealink added 2.3 percent to 66 sen.
Ta Ann Holdings Bhd. (TAH MK): The Malaysian timber producer said it plans to give shareholders one new share for every five held as part of a bonus issue. Ta Ann advanced 2.2 percent to 5.08 ringgit.
Malaysia’s FTSE Bursa Malaysia KLCI Index rose 1.3 percent to 1,285.01.
AirAsia Bhd. (AIRA MK): Southeast Asia’s largest budget carrier reported a 10 percent increase in first-quarter profit after flying more passengers and added routes. Net income totaled 224.1 million ringgit ($69 million) in the three months ended March, compared with 203.2 million ringgit the year before, it said in a statement. AirAsia gained 4.3 percent to 1.22 ringgit.
Affin Holdings Bhd. (AHB MK): The banking group part-owned by Hong Kong’s Bank of East Asia Ltd. said it submitted an application to Malaysia’s central bank to commence takeover talks with EON Capital Bhd. (EON MK) and its major shareholders.
Affin added 0.7 percent to 2.90 ringgit. EON gained 2 percent to
7.01 ringgit.
Alliance Financial Group Bhd. (AFG MK): The banking group said fourth-quarter net income surged to 77.3 million ringgit from 897,000 ringgit a year earlier, after net interest income rose and provisions for bad debts declined. Alliance gained 1.1 percent to 2.78 ringgit.
Maxis Bhd. (MAXIS MK): Malaysia’s biggest mobile-phone operator posted a profit of 552 million ringgit in the first quarter compared with a loss of 42 million ringgit a year earlier after adding more customers to its wireless broadband services. Maxis slid 0.4 percent to 5.22 ringgit.
RHB Capital Bhd. (RHBC MK): Malaysia’s fourth-largest banking group said first-quarter net income rose 53 percent from a year earlier to 349.7 million ringgit, after net interest income increased and bad debt provisions dropped. RHB Capital added 0.2 percent to 5.75 ringgit.
Sealink International Bhd. (SELI MK): The Malaysian builder and operator of offshore marine vessels said it agreed to hire advisors to conduct a feasibility study on its plan to list a shipbuilding division. The company is considering “several locations” for the listing, it said in a statement. Sealink added 2.3 percent to 66 sen.
Ta Ann Holdings Bhd. (TAH MK): The Malaysian timber producer said it plans to give shareholders one new share for every five held as part of a bonus issue. Ta Ann advanced 2.2 percent to 5.08 ringgit.
Malaysia Stocks
May 31 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index rose 15.85, or 1.3 percent, to close at 1,285.01, its highest close since May 21. The gauge slid 4.6 percent this month, its biggest monthly decline since a 15 percent slump in October.
Axiata Group Bhd. (AXIATA MK), a mobile-phone operator, rose 2.2 percent to 3.77 ringgit, its highest close since May 18.
The company said first-quarter profit surged more than 14-fold from a year earlier to 921.5 million ringgit ($280 million), bolstered by income from its overseas units and the sale of shares in an Indonesian subsidiary.
Genting Bhd. (GENT MK), Asia’s second-biggest publicly traded casino operator, added 1 percent to 6.80 ringgit, its highest level since May 18. The company said first-quarter profit rose 9 percent to 232.4 million ringgit, helped by revenue from its new gambling resort in Singapore. The company’s casino and hotel unit Genting Malaysia Bhd. (GENM MK) gained 4.9 percent to 2.78 ringgit.
Sime Darby Bhd. (SIME MK), the world’s biggest listed palm oil producer, dropped 1 percent to 7.75 ringgit, the worst performer on the stock index today. The company posted its first quarterly loss in more than a decade after cost overruns prompted the company to remove its chief executive officer. The third-quarter net loss was 308.6 million ringgit, compared with a profit of 150.6 million ringgit a year earlier, the company said in a statement.
Telekom Malaysia Bhd. (T MK), a fixed-line phone and internet operator, advanced 2.8 percent to 3.35 ringgit, its largest gain since March 23, after saying first-quarter net income jumped to 242.9 million ringgit from 27.7 million ringgit a year ago.
Zelan Bhd. (ZELN MK), a builder, tumbled 9.5 percent to
47.5 sen, its lowest close since March 19, 2009, after its fourth-quarter loss widened to 184.3 million ringgit from 57.5 million ringgit a year earlier on cost overruns in some of its overseas projects.
Axiata Group Bhd. (AXIATA MK), a mobile-phone operator, rose 2.2 percent to 3.77 ringgit, its highest close since May 18.
The company said first-quarter profit surged more than 14-fold from a year earlier to 921.5 million ringgit ($280 million), bolstered by income from its overseas units and the sale of shares in an Indonesian subsidiary.
Genting Bhd. (GENT MK), Asia’s second-biggest publicly traded casino operator, added 1 percent to 6.80 ringgit, its highest level since May 18. The company said first-quarter profit rose 9 percent to 232.4 million ringgit, helped by revenue from its new gambling resort in Singapore. The company’s casino and hotel unit Genting Malaysia Bhd. (GENM MK) gained 4.9 percent to 2.78 ringgit.
Sime Darby Bhd. (SIME MK), the world’s biggest listed palm oil producer, dropped 1 percent to 7.75 ringgit, the worst performer on the stock index today. The company posted its first quarterly loss in more than a decade after cost overruns prompted the company to remove its chief executive officer. The third-quarter net loss was 308.6 million ringgit, compared with a profit of 150.6 million ringgit a year earlier, the company said in a statement.
Telekom Malaysia Bhd. (T MK), a fixed-line phone and internet operator, advanced 2.8 percent to 3.35 ringgit, its largest gain since March 23, after saying first-quarter net income jumped to 242.9 million ringgit from 27.7 million ringgit a year ago.
Zelan Bhd. (ZELN MK), a builder, tumbled 9.5 percent to
47.5 sen, its lowest close since March 19, 2009, after its fourth-quarter loss widened to 184.3 million ringgit from 57.5 million ringgit a year earlier on cost overruns in some of its overseas projects.
Sunday, May 30, 2010
Malaysia Equity Preview - May 31,2010
May 31 (Bloomberg) -- The following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses, and share prices are from the most recent close.
Malaysia’s FTSE Bursa Malaysia KLCI Index rose 1.6 percent to
1,269.16 on May 27. The market was closed on May 28 for a public holiday.
Axiata Group Bhd. (AXIATA MK): The mobile-phone operator said first-quarter profit surged more than 14-fold from a year earlier to 921.5 million ringgit ($280 million), bolstered by income from its overseas units and the sale of shares in an Indonesian subsidiary. Axiata climbed 0.5 percent to 3.69 ringgit.
Genting Bhd. (GENT MK): Asia’s second-biggest publicly traded casino operator said first-quarter profit rose 9 percent to 232.4 million ringgit, helped by revenue from its new gambling resort in Singapore. Genting added 2.6 percent to 6.73 ringgit.
Sime Darby Bhd. (SIME MK): The world’s biggest listed palm oil producer posted its first quarterly loss in more than a decade after cost overruns prompted the company to remove its chief executive officer. The third-quarter net loss was 308.6 million ringgit, compared with a profit of 150.6 million ringgit a year earlier, the company said in a statement. Sime gained 3 percent to 7.83 ringgit.
YTL Corp. (YTL MK): Malaysia’s biggest builder said profit in the third quarter dropped 32 percent from a year earlier to
330.6 million ringgit because of increased taxes. YTL added 2.5 percent to 7.12 ringgit.
Malaysia’s FTSE Bursa Malaysia KLCI Index rose 1.6 percent to
1,269.16 on May 27. The market was closed on May 28 for a public holiday.
Axiata Group Bhd. (AXIATA MK): The mobile-phone operator said first-quarter profit surged more than 14-fold from a year earlier to 921.5 million ringgit ($280 million), bolstered by income from its overseas units and the sale of shares in an Indonesian subsidiary. Axiata climbed 0.5 percent to 3.69 ringgit.
Genting Bhd. (GENT MK): Asia’s second-biggest publicly traded casino operator said first-quarter profit rose 9 percent to 232.4 million ringgit, helped by revenue from its new gambling resort in Singapore. Genting added 2.6 percent to 6.73 ringgit.
Sime Darby Bhd. (SIME MK): The world’s biggest listed palm oil producer posted its first quarterly loss in more than a decade after cost overruns prompted the company to remove its chief executive officer. The third-quarter net loss was 308.6 million ringgit, compared with a profit of 150.6 million ringgit a year earlier, the company said in a statement. Sime gained 3 percent to 7.83 ringgit.
YTL Corp. (YTL MK): Malaysia’s biggest builder said profit in the third quarter dropped 32 percent from a year earlier to
330.6 million ringgit because of increased taxes. YTL added 2.5 percent to 7.12 ringgit.
Wednesday, May 26, 2010
Malaysia Equity Preview - May 27,2010
May 27 (Bloomberg) -- The following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses, and share prices are from the most recent close.
Malaysia’s FTSE Bursa Malaysia KLCI Index fell for a ninth day, sliding 0.1 percent to 1,248.94, the longest losing streak since March 20, 2001.
Bintai Kinden Corp. (BKC MK): The Malaysian engineering group said it won a $32.4 million contract to provide mechanical and electrical works for the proposed Indochina Plaza project in Hanoi, Vietnam. Bintai was unchanged at 32 sen.
IJM Corp. (IJM MK): The construction, property and plantation group said fourth-quarter net income doubled to 111 million ringgit ($33.4 million) from 53.3 million ringgit a year earlier, helped by a foreign exchange translation gain of 57 million ringgit on its U.S. dollar denominated debt. IJM advanced 0.9 percent to 4.48 ringgit.
Kuala Lumpur Kepong Bhd. (KLK MK): The Malaysian palm oil producer said second-quarter net income almost doubled to 215.9 million ringgit ($65 million) from 112.7 million ringgit a year earlier on higher revenue. The stock added 0.1 percent to 15.58 ringgit.
Proton Holdings Bhd. (PROH MK): The Malaysian state- controlled carmaker said it had a profit of 22.8 million ringgit in the fiscal fourth quarter compared with a loss of 323 million ringgit a year earlier. Sales climbed to 2.26 billion ringgit from 1.4 billion ringgit, the company said in a statement.
Proton was unchanged at 4.44 ringgit.
SHL Consolidated Bhd. (SHLC MK): The Malaysian property developer said fourth-quarter net income more than doubled to
7.72 million ringgit from 2.9 million ringgit a year earlier, on higher sales. SHL fell 14 percent to 1.03 ringgit on May 25.
TRC Synergy Bhd. (TRC MK): The construction company said it secured a $9.36 million contract to build homes in Cambodia for Delta Garden Ltd. TRC added 1 percent to 1.03 ringgit.
Malaysia’s FTSE Bursa Malaysia KLCI Index fell for a ninth day, sliding 0.1 percent to 1,248.94, the longest losing streak since March 20, 2001.
Bintai Kinden Corp. (BKC MK): The Malaysian engineering group said it won a $32.4 million contract to provide mechanical and electrical works for the proposed Indochina Plaza project in Hanoi, Vietnam. Bintai was unchanged at 32 sen.
IJM Corp. (IJM MK): The construction, property and plantation group said fourth-quarter net income doubled to 111 million ringgit ($33.4 million) from 53.3 million ringgit a year earlier, helped by a foreign exchange translation gain of 57 million ringgit on its U.S. dollar denominated debt. IJM advanced 0.9 percent to 4.48 ringgit.
Kuala Lumpur Kepong Bhd. (KLK MK): The Malaysian palm oil producer said second-quarter net income almost doubled to 215.9 million ringgit ($65 million) from 112.7 million ringgit a year earlier on higher revenue. The stock added 0.1 percent to 15.58 ringgit.
Proton Holdings Bhd. (PROH MK): The Malaysian state- controlled carmaker said it had a profit of 22.8 million ringgit in the fiscal fourth quarter compared with a loss of 323 million ringgit a year earlier. Sales climbed to 2.26 billion ringgit from 1.4 billion ringgit, the company said in a statement.
Proton was unchanged at 4.44 ringgit.
SHL Consolidated Bhd. (SHLC MK): The Malaysian property developer said fourth-quarter net income more than doubled to
7.72 million ringgit from 2.9 million ringgit a year earlier, on higher sales. SHL fell 14 percent to 1.03 ringgit on May 25.
TRC Synergy Bhd. (TRC MK): The construction company said it secured a $9.36 million contract to build homes in Cambodia for Delta Garden Ltd. TRC added 1 percent to 1.03 ringgit.
Malaysia Stocks
May 26 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index fell for a ninth day, sliding 1.19, or 0.1 percent, to close at 1,248.94, the longest losing streak since March 20, 2001.
IGB Corp. (IGB MK) and KLCC Property Holdings Bhd. (KLCC MK) slid ahead of their removal from the MSCI Malaysia Index as of the close of today. Shares of IGB, a property developer, fell
6.1 percent to 1.54 ringgit, the most since Oct. 26. KLCC lost
3.9 percent to 2.75 ringgit, its lowest since Dec. 30, 2008.
DRB-Hicom Bhd. (DRB MK), a builder and auto assembler, gained 1.6 percent to 98.5 sen, its largest increase since May 10. The company said it had a profit of 259.4 million ringgit
($77 million) in the fourth quarter ended March 31 compared with a loss of 60.7 million ringgit a year earlier.
Lion Corp. (LION MK), a steel producer and builder, advanced 5.7 percent to 28 sen, the most since April 9. The company said it swung to a profit of 18.5 million ringgit in the third quarter ended March 31 from a loss of 479.9 million ringgit a year earlier after sales advanced.
MMC Corp. (MMC MK), a ports, power and construction group, added 2.2 percent to 2.28 ringgit, its biggest gain since May 13.
The company said first-quarter net income rose 9.9 percent from a year earlier to 34.4 million ringgit, helped by higher contributions from transport and logistics, as well as energy and utilities.
MISC Bhd. (MISC MK), the world’s biggest owner of liquefied natural gas tankers, slid 3.4 percent to 8.13 ringgit, its steepest drop since Feb. 24. An oil tanker owned by MISC’s AET Tanker Holdings Sdn. that spilled 2,500 metric tons of crude into the Singapore Strait yesterday following a collision with a bulk carrier, is being unloaded as efforts to clean up a slick resumed. “The incident caused significant damage to the vessel’s hull,” AET said in a statement.
IGB Corp. (IGB MK) and KLCC Property Holdings Bhd. (KLCC MK) slid ahead of their removal from the MSCI Malaysia Index as of the close of today. Shares of IGB, a property developer, fell
6.1 percent to 1.54 ringgit, the most since Oct. 26. KLCC lost
3.9 percent to 2.75 ringgit, its lowest since Dec. 30, 2008.
DRB-Hicom Bhd. (DRB MK), a builder and auto assembler, gained 1.6 percent to 98.5 sen, its largest increase since May 10. The company said it had a profit of 259.4 million ringgit
($77 million) in the fourth quarter ended March 31 compared with a loss of 60.7 million ringgit a year earlier.
Lion Corp. (LION MK), a steel producer and builder, advanced 5.7 percent to 28 sen, the most since April 9. The company said it swung to a profit of 18.5 million ringgit in the third quarter ended March 31 from a loss of 479.9 million ringgit a year earlier after sales advanced.
MMC Corp. (MMC MK), a ports, power and construction group, added 2.2 percent to 2.28 ringgit, its biggest gain since May 13.
The company said first-quarter net income rose 9.9 percent from a year earlier to 34.4 million ringgit, helped by higher contributions from transport and logistics, as well as energy and utilities.
MISC Bhd. (MISC MK), the world’s biggest owner of liquefied natural gas tankers, slid 3.4 percent to 8.13 ringgit, its steepest drop since Feb. 24. An oil tanker owned by MISC’s AET Tanker Holdings Sdn. that spilled 2,500 metric tons of crude into the Singapore Strait yesterday following a collision with a bulk carrier, is being unloaded as efforts to clean up a slick resumed. “The incident caused significant damage to the vessel’s hull,” AET said in a statement.
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