inseniorshah
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Petra Perdana tu parent company aku la tu..huhu
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- Thread starter ridersenja
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ridersenja
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05/02/2010 friday
KUALA LUMPUR: The sharp overnight fall on Wall Street will weigh on key regional markets on Friday, Feb 5 while on Bursa Malaysia, the recent corporate events involving PETRA PERDANA BHD [] and EON CAPITAL BHD [] should provide excitement to the market.
On Wall Street, the Dow briefly fell below the crucial 10,000 mark on Thursday, Feb 4 as stocks suffered their worst losses in more than nine months.
The Dow Jones industrial average fell 268.37 points, or 2.61 percent, to close at 10,002.18. The Standard & Poor's 500 Index dropped 34.17 points, or 3.11 percent, to close at 1,063.11. The Nasdaq Composite Index lost 65.48 points, or 2.99 percent, to close at 2,125.43.
At Bursa, stocks to watch are Petra Perdana, EONCap, KNM GROUP BHD [], MUDAJAYA GROUP BHD [] Kwantas Corp Bhd and BURSA MALAYSIA BHD [].
At Petra Perdana's EGM which ended early Friday after 14 hours, Datuk Tengku Ibrahim Petra, his wife Datin Nariza Hajjar Hashim and two others were removed by shareholders as board members. Their adversaries, led its executive director Shamsul Saad, won the day.
In EON Capital, Rin Kei Mei, who holds a 15.4% stake, has called for the appointment of eight additional directors to its board, presumably to push through Tan Sri Quek Leng Chan's continuing quest for a takeover of the banking group.
KNM’s founder and managing director Lee Swee Eng, via BlueFire Capital Group, has proposed to buy up KNM at 90 sen per share, which is 15 sen higher than its last closing price.
BlueFire, an entity controlled by Lee -- who is also a major shareholder of KNM -- to acquire the entire business and undertakings of KNM.
Mudajaya's JV with Bina Rezeki has secured a RM241.29 million contract from Boulevard Plaza Sdn Bhd for the 'Boulevard Plaza Development' project in Putrajaya.
Kwantas’ unit has proposed to acquire a 1,360ha parcel of leasehold land in Kinabatangan, Sabah, for RM83.80 million cash from Dataran Indah Jaya Sdn Bhd.
Bursa’s net profit for the 4Q ended Dec 31, 2009, jumped 612% to RM96.31 million from RM13.52 million a year ago mainly due to the RM76 million gain on disposal of its 25% stake in Bursa Malaysia Derivatives.
The stock exchange operator’s registered revenue of RM157.39 million versus RM71.11 million while basic earnings per share rose to 18.2 sen from 2.6 sen previously. Bursa also recommended dividend of 9 sen per share for 4Q09 compared with 7.8 sen in 4Q08.
KUALA LUMPUR: The sharp overnight fall on Wall Street will weigh on key regional markets on Friday, Feb 5 while on Bursa Malaysia, the recent corporate events involving PETRA PERDANA BHD [] and EON CAPITAL BHD [] should provide excitement to the market.
On Wall Street, the Dow briefly fell below the crucial 10,000 mark on Thursday, Feb 4 as stocks suffered their worst losses in more than nine months.
The Dow Jones industrial average fell 268.37 points, or 2.61 percent, to close at 10,002.18. The Standard & Poor's 500 Index dropped 34.17 points, or 3.11 percent, to close at 1,063.11. The Nasdaq Composite Index lost 65.48 points, or 2.99 percent, to close at 2,125.43.
At Bursa, stocks to watch are Petra Perdana, EONCap, KNM GROUP BHD [], MUDAJAYA GROUP BHD [] Kwantas Corp Bhd and BURSA MALAYSIA BHD [].
At Petra Perdana's EGM which ended early Friday after 14 hours, Datuk Tengku Ibrahim Petra, his wife Datin Nariza Hajjar Hashim and two others were removed by shareholders as board members. Their adversaries, led its executive director Shamsul Saad, won the day.
In EON Capital, Rin Kei Mei, who holds a 15.4% stake, has called for the appointment of eight additional directors to its board, presumably to push through Tan Sri Quek Leng Chan's continuing quest for a takeover of the banking group.
KNM’s founder and managing director Lee Swee Eng, via BlueFire Capital Group, has proposed to buy up KNM at 90 sen per share, which is 15 sen higher than its last closing price.
BlueFire, an entity controlled by Lee -- who is also a major shareholder of KNM -- to acquire the entire business and undertakings of KNM.
Mudajaya's JV with Bina Rezeki has secured a RM241.29 million contract from Boulevard Plaza Sdn Bhd for the 'Boulevard Plaza Development' project in Putrajaya.
Kwantas’ unit has proposed to acquire a 1,360ha parcel of leasehold land in Kinabatangan, Sabah, for RM83.80 million cash from Dataran Indah Jaya Sdn Bhd.
Bursa’s net profit for the 4Q ended Dec 31, 2009, jumped 612% to RM96.31 million from RM13.52 million a year ago mainly due to the RM76 million gain on disposal of its 25% stake in Bursa Malaysia Derivatives.
The stock exchange operator’s registered revenue of RM157.39 million versus RM71.11 million while basic earnings per share rose to 18.2 sen from 2.6 sen previously. Bursa also recommended dividend of 9 sen per share for 4Q09 compared with 7.8 sen in 4Q08.
Nice to share
pd sesiapa yg expert technical analysis or ade software osk188 leh usha kaunter2 ni
Etitech ----boleh buy on monday (8Feb2010),rege br nek 6% last 2
weeks
Highest 52weeks : 87cents
Lowest 52weeks : 39.5cents
Close lastweek : 44.5cents
dan juga leh usha counter2 ni jugak
Pjdev
Talam
Tq...sharing is caring
pd sesiapa yg expert technical analysis or ade software osk188 leh usha kaunter2 ni
Etitech ----boleh buy on monday (8Feb2010),rege br nek 6% last 2
weeks
Highest 52weeks : 87cents
Lowest 52weeks : 39.5cents
Close lastweek : 44.5cents
dan juga leh usha counter2 ni jugak
Pjdev
Talam
Tq...sharing is caring
ridersenja
Active Member
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Monday 8/02/2010
KUALA LUMPUR: Investors are expected to stay cautious in the new week starting Feb 8 after the sharp fall over the week, spurred by worries about fiscal problems in Europe and China's curb liquidity in the market.
On Wall Street, US stocks ended slightly higher on Friday on some mild bargain hunting after a volatile week. The Dow Jones industrial average closed up 0.10% at 10,012.23, the Standard & Poor's 500 Index ended up 0.29% at 1,066.19 and the Nasdaq Composite Index gained 0.74% to close at 2,141.12.
At Bursa Malaysia, stocks to watch this week include SCOMI MARINE BHD [], LATEXX PARTNERS BHD [], PROTON HOLDINGS BHD [], CSC Steel Bhd and GULA PERAK BHD [].Scomi Marine would reap S$61.5 million when it sells its 29.07% stake in SIngapore listed CH Offshore Ltd to Falcon Energy Group Ltd for S$143.5 million.
Scomi Marine's original cost of investment in CH Offshore was S$82.0 million on Sept 30, 2005.
Latexx Partners' net profit in the fourth quarter ended Dec 31, 2009 jumped 157% to RM17.27 million from RM6.72 million a year ago, underpinned by recent capacity expansion, aggressive marketing strategy and overall cost savings. Group revenue rose 47.1% to RM102.84 million while pre-tax profit jumped 159% to RM17.39 million.
Proton has finally won its battle against its former joint venture partner China-based Goldstar Heavy Industrial Co. Ltd.
Proton's unit Proton Automobiles (China) Ltd was found by the tribunal to have acted in good faith in terminating a JV contract with Goldstar, which was signed in June 2002, wherein Goldstar was to have secured a manufacturing licence to amnufacture vehicles.
Goldstar had then sought about one billion yuan (RM520 million) in compensation from the lawsuit.
CSC Steel posted 4Q net profit of RM37.11 million versus net loss of RM 42.08 million a year ago.
RHB Research Institute, which had issued a report ahead of CSC's earnings, had earlier upgraded its earnings forecasts while its indicative fair value was raised by 23.1% from RM1.64 to RM2.02 based on 9.0 times revised FY12/10 EPS of 22.4 sen.
Malaysian Rating Corp downgraded the rating of DUTALAND BHD []'s outstanding RM50.66 million redeemable unsecured loan stocks (RULS) to B from BB-. The outlook on the rating is negative.
MARC also revised its rating outlook on OLYMPIA INDUSTRIES BHD []'s outstanding RM85.86 million nominal value RULS to negative from stable.
Gula Perak has proposed a share capital reduction of its paid-up of RM322.19 million comprising 644.39 million 50 sen shares. It proposed to cancel 40 sen of the par value and reduce it to 10 sen each.
The board proposed the share capital account be reduced by RM257.76 million and the credit arising to reduce the company's accumulated losses.
KUALA LUMPUR: Investors are expected to stay cautious in the new week starting Feb 8 after the sharp fall over the week, spurred by worries about fiscal problems in Europe and China's curb liquidity in the market.
On Wall Street, US stocks ended slightly higher on Friday on some mild bargain hunting after a volatile week. The Dow Jones industrial average closed up 0.10% at 10,012.23, the Standard & Poor's 500 Index ended up 0.29% at 1,066.19 and the Nasdaq Composite Index gained 0.74% to close at 2,141.12.
At Bursa Malaysia, stocks to watch this week include SCOMI MARINE BHD [], LATEXX PARTNERS BHD [], PROTON HOLDINGS BHD [], CSC Steel Bhd and GULA PERAK BHD [].Scomi Marine would reap S$61.5 million when it sells its 29.07% stake in SIngapore listed CH Offshore Ltd to Falcon Energy Group Ltd for S$143.5 million.
Scomi Marine's original cost of investment in CH Offshore was S$82.0 million on Sept 30, 2005.
Latexx Partners' net profit in the fourth quarter ended Dec 31, 2009 jumped 157% to RM17.27 million from RM6.72 million a year ago, underpinned by recent capacity expansion, aggressive marketing strategy and overall cost savings. Group revenue rose 47.1% to RM102.84 million while pre-tax profit jumped 159% to RM17.39 million.
Proton has finally won its battle against its former joint venture partner China-based Goldstar Heavy Industrial Co. Ltd.
Proton's unit Proton Automobiles (China) Ltd was found by the tribunal to have acted in good faith in terminating a JV contract with Goldstar, which was signed in June 2002, wherein Goldstar was to have secured a manufacturing licence to amnufacture vehicles.
Goldstar had then sought about one billion yuan (RM520 million) in compensation from the lawsuit.
CSC Steel posted 4Q net profit of RM37.11 million versus net loss of RM 42.08 million a year ago.
RHB Research Institute, which had issued a report ahead of CSC's earnings, had earlier upgraded its earnings forecasts while its indicative fair value was raised by 23.1% from RM1.64 to RM2.02 based on 9.0 times revised FY12/10 EPS of 22.4 sen.
Malaysian Rating Corp downgraded the rating of DUTALAND BHD []'s outstanding RM50.66 million redeemable unsecured loan stocks (RULS) to B from BB-. The outlook on the rating is negative.
MARC also revised its rating outlook on OLYMPIA INDUSTRIES BHD []'s outstanding RM85.86 million nominal value RULS to negative from stable.
Gula Perak has proposed a share capital reduction of its paid-up of RM322.19 million comprising 644.39 million 50 sen shares. It proposed to cancel 40 sen of the par value and reduce it to 10 sen each.
The board proposed the share capital account be reduced by RM257.76 million and the credit arising to reduce the company's accumulated losses.
ridersenja
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KUALA LUMPUR: The bears will be on the prowl again on Tuesday, Feb 9 as markets come under selling pressure with US stocks falling below the crucial 10,000 for the first time since November.
In Japan and Hong Kong, the key indices also fell below the crucial 10,000 and 20,000 levels respectively on Monday. At Bursa Malaysia, the FBM KLCI fell to a three-month low.
There seems to be no firm resolution in sight as to how the governments in the euro zone will be able to resolve sovereign debt troubles.
Investors sold bank shares, sending the 30-stock Dow Jones industrial average down 103.84 points, or 1.04 percent, at 9,908.39. The Standard & Poor's 500 Index dropped 9.45 points, or 0.89 percent, at 1,056.74. The Nasdaq Composite Index declined 15.07 points, or 0.70 percent, at 2,126.05.
At Bursa Malaysia, stocks to watch are WCT BHD [], EON CAPITAL BHD [] (EONCap), HONG LEONG BANK BHD [], MALAYAN BANKING BHD [] and COUNTRY HEIGHTS HOLDINGS BHD [] (CHHB). ALso on the watch list will be ACE Market-listed TEJARI TECHNOLOGIES BHD [].
WCT's 50% owned Cebarco-WCT W.L.L. (CWCT) has received a contract from MAF Investments Bahrain BSC for the Bahrain City Centre in Manama and the final value is RM467 million compared with the initial value of RM246 million.
WCT had received the duly executed contract dated Feb 4 from MAF and the date of full completion and handover is Dec 16, 2010.
Meanwhile, investors are expected to stay on the sidelines over the latest development in the
high-profile potential RM4.92 billion takeover in EONCap by Hong Leong Bank.
Hong Leong Bank rejected a request by Kualapura (M) Sdn Bhd and Lintang Emas Sdn Bhd to retain the offer that has lapsed on Feb 4.
Maybank is scheduled to release its second quarter earnings this evening.
CHHB was slapped with a RM22.6 million bill by the government for real property gains tax (RPGT) for assessment years 1993, 1998 and 1999.
Tejari's single largest shareholder KOM2 Holdings Sdn Bhd has increased its direct holdings to 29.85% stake or 48.66 million shares, raising speculations that a takeover could be on the cards.
Maxis Bhd is looking at providing telecommunication services for at least 100 new commercial buildings this year in the Klang Valley, Johor and Penang, and sees partnership with developers as one of its key strategies.
In Japan and Hong Kong, the key indices also fell below the crucial 10,000 and 20,000 levels respectively on Monday. At Bursa Malaysia, the FBM KLCI fell to a three-month low.
There seems to be no firm resolution in sight as to how the governments in the euro zone will be able to resolve sovereign debt troubles.
Investors sold bank shares, sending the 30-stock Dow Jones industrial average down 103.84 points, or 1.04 percent, at 9,908.39. The Standard & Poor's 500 Index dropped 9.45 points, or 0.89 percent, at 1,056.74. The Nasdaq Composite Index declined 15.07 points, or 0.70 percent, at 2,126.05.
At Bursa Malaysia, stocks to watch are WCT BHD [], EON CAPITAL BHD [] (EONCap), HONG LEONG BANK BHD [], MALAYAN BANKING BHD [] and COUNTRY HEIGHTS HOLDINGS BHD [] (CHHB). ALso on the watch list will be ACE Market-listed TEJARI TECHNOLOGIES BHD [].
WCT's 50% owned Cebarco-WCT W.L.L. (CWCT) has received a contract from MAF Investments Bahrain BSC for the Bahrain City Centre in Manama and the final value is RM467 million compared with the initial value of RM246 million.
WCT had received the duly executed contract dated Feb 4 from MAF and the date of full completion and handover is Dec 16, 2010.
Meanwhile, investors are expected to stay on the sidelines over the latest development in the
high-profile potential RM4.92 billion takeover in EONCap by Hong Leong Bank.
Hong Leong Bank rejected a request by Kualapura (M) Sdn Bhd and Lintang Emas Sdn Bhd to retain the offer that has lapsed on Feb 4.
Maybank is scheduled to release its second quarter earnings this evening.
CHHB was slapped with a RM22.6 million bill by the government for real property gains tax (RPGT) for assessment years 1993, 1998 and 1999.
Tejari's single largest shareholder KOM2 Holdings Sdn Bhd has increased its direct holdings to 29.85% stake or 48.66 million shares, raising speculations that a takeover could be on the cards.
Maxis Bhd is looking at providing telecommunication services for at least 100 new commercial buildings this year in the Klang Valley, Johor and Penang, and sees partnership with developers as one of its key strategies.
ating78
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POHUAT
LATITUD
LIIHEN
Ada potensi nak naik
LATITUD
LIIHEN
Ada potensi nak naik
ridersenja
Active Member
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Thursday - 11 Feb 2010
KUALA LUMPUR: The stocks market is expected to be cautious and volume could be thin on Thursday, Feb 11 ahead of the long break ahead next week for the Chinese New Year while overseas markets, including the US did not offer much leads.
On Wall Street, U.S. stocks dipped on Wednesday as worries over Federal Reserve Chairman Ben Bernanke's strategy after the economy recovers offset optimism about a possible rescue for debt-burdened Greece, according to Reuters.
The Dow Jones industrial average was down 20.26 points, or 0.20%, at 10,038.38. The Standard & Poor's 500 Index was down 2.39 points, or 0.22%, at 1,068.13. The Nasdaq Composite Index was down 3.00 points, or 0.14%, at 2,147.87.
At Bursa Malaysia, Stocks to watch on Thursday include NOTION VTEC BHD [], IJM Corp Bhd, Fraser & Neave Holdings Bhd and GADANG HOLDINGS BHD []. Also on the watch list are CB INDUSTRIAL PRODUCT HOLDING [] Bhd and AirAsia.
Notion Vtec's net profit doubled to RM14.19 million in its first quarter ended Dec 31, 2009 (1QFY10) from RM7.24 million due to a recovery in all business segments and favourable foreign exchange rates.
The government has allowed the concession period for IJM Corp Bhd's Bersraya highway to be extended by eight years to offset the abolishment of the Salak Jaya toll plaza and restructuring of the toll rates.
CB Industrial Product unit Modipalm Engineering Sdn Bhd has been awarded a US$8.34 million (RM28.6 million) contract by Indonesia's PT Hutan Sawit Lestari.
Fraser & Neave sealed a five-year exclusive deal worth an estimated RM600 million with Allexcel Trading Sdn Bhd to distribute and sell Red Bull energy drink in Malaysia.
Gadang plans to raise a minimum of RM25 million via a proposed renounceable two-call rights issue of up to 78.68 million new shares at an indicative issue price of RM1 per share on the basis of two rights shares for every three existing shares.
AirAsia has inked agreements towards setting up Vietnam as its fourth country base after Malaysia, Thailand and Indonesia.
Astro B.yond's high-definition (HD) broadcast has been well received by the market as indicated by the growing number of pay-TV subscribers converting to the new Internet protocol-ready box, said Measat Broadcast Network Systems Sdn Bhd chief operating officer Henry Tan.
KUALA LUMPUR: The stocks market is expected to be cautious and volume could be thin on Thursday, Feb 11 ahead of the long break ahead next week for the Chinese New Year while overseas markets, including the US did not offer much leads.
On Wall Street, U.S. stocks dipped on Wednesday as worries over Federal Reserve Chairman Ben Bernanke's strategy after the economy recovers offset optimism about a possible rescue for debt-burdened Greece, according to Reuters.
The Dow Jones industrial average was down 20.26 points, or 0.20%, at 10,038.38. The Standard & Poor's 500 Index was down 2.39 points, or 0.22%, at 1,068.13. The Nasdaq Composite Index was down 3.00 points, or 0.14%, at 2,147.87.
At Bursa Malaysia, Stocks to watch on Thursday include NOTION VTEC BHD [], IJM Corp Bhd, Fraser & Neave Holdings Bhd and GADANG HOLDINGS BHD []. Also on the watch list are CB INDUSTRIAL PRODUCT HOLDING [] Bhd and AirAsia.
Notion Vtec's net profit doubled to RM14.19 million in its first quarter ended Dec 31, 2009 (1QFY10) from RM7.24 million due to a recovery in all business segments and favourable foreign exchange rates.
The government has allowed the concession period for IJM Corp Bhd's Bersraya highway to be extended by eight years to offset the abolishment of the Salak Jaya toll plaza and restructuring of the toll rates.
CB Industrial Product unit Modipalm Engineering Sdn Bhd has been awarded a US$8.34 million (RM28.6 million) contract by Indonesia's PT Hutan Sawit Lestari.
Fraser & Neave sealed a five-year exclusive deal worth an estimated RM600 million with Allexcel Trading Sdn Bhd to distribute and sell Red Bull energy drink in Malaysia.
Gadang plans to raise a minimum of RM25 million via a proposed renounceable two-call rights issue of up to 78.68 million new shares at an indicative issue price of RM1 per share on the basis of two rights shares for every three existing shares.
AirAsia has inked agreements towards setting up Vietnam as its fourth country base after Malaysia, Thailand and Indonesia.
Astro B.yond's high-definition (HD) broadcast has been well received by the market as indicated by the growing number of pay-TV subscribers converting to the new Internet protocol-ready box, said Measat Broadcast Network Systems Sdn Bhd chief operating officer Henry Tan.
ridersenja
Active Member
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Friday - 12.02.2010
KUALA LUMPUR: Stocks on Bursa Malaysia are expected to start off on a firmer note on Friday, Feb 12 after a pledge by European leaders to help debt-stricken Greece encouraged investors back in to equity markets.
Wall Street gained as much as 1.4 percent, also supported by a dip in weekly jobless claim, with the Nasdaq leading the gains.
The Dow Jones industrial average rose 105.81 points, or 1.05 percent, to 10,144.19. The Standard & Poor's 500 Index gained 10.34 points, or 0.97 percent, to 1,078.47. The Nasdaq Composite Index added 29.54 points, or 1.38 percent, at 2,177.41.
Stocks to watch on Friday are Ho Hup CONSTRUCTION [] Company Bhd, GREEN PACKET BHD [], MALAYSIAN AIRLINE SYSTEM BHD [] and PETRA PERDANA BHD []. However, trading is expected to be light in view of the holidays ahead next week.
Meanwhile, the fight for control of Ho Hup has resumed following a week-long lull.
Ho Hup's second-largest shareholder, Datuk Low Tuck Choy who holds 23.11 million shares representing a 22.66% stake in the company, has called for another EGM to remove the present board of directors after the first one was called off owing to a technicality.
The first EGM, which was scheduled for Feb 4, was cancelled after the company's largest shareholder, Extreme System Sdn Bhd, obtained a restraining order from the High Court here.
Green Packet Bhd posted net loss of RM94.54 million in its fourth quarter ended Dec 31, 2009, compared with RM37.22 million in losses a year ago as it made additional provisions for impairment of long term investments, investments in associates and inventories of about RM26 million.
MAS's share price and the entitlement to the rights shares, which fell sharply on Thursday, should stabilise today. Analysts said the heavy trading in the entitlement to the rights shares was "churned" by traders and viewed the selling as overdone.
MAS chief financial officer Mohd Azha Abdul Jalil tells the Edge FinancialDaily that MAS's rights issue has the support of Khazanah Nasional and Penerbangan Malaysia Berhad who have undertaken to subscribe for their entitlements which amounts to 69.33% of the rights issue.
"Further, Khazanah has undertaken to apply for excess rights amounting to 1.96% of the rights issue. The remaining open portion of the rights issue has been underwritten by Maybank Investment Bank Bhd, CIMB Investment Bank Bhd and RHB Investment Bank Bhd which has provided MAS with a high degree of certainty in this equity fund raising exercise," he said.
In Petra Perdana Bhd, its new board of directors has yet to decide on whether to retain or dispose of its remaining 29.59% stake in PETRA ENERGY BHD [], said its executive director Shamsul Saad.
EON CAPITAL BHD [] (EONCap), in a strong capital position, is in no hurry to find a merger partner or be taken over, said EON Bank Bhd group CEO Michael Lor.
KUALA LUMPUR: Stocks on Bursa Malaysia are expected to start off on a firmer note on Friday, Feb 12 after a pledge by European leaders to help debt-stricken Greece encouraged investors back in to equity markets.
Wall Street gained as much as 1.4 percent, also supported by a dip in weekly jobless claim, with the Nasdaq leading the gains.
The Dow Jones industrial average rose 105.81 points, or 1.05 percent, to 10,144.19. The Standard & Poor's 500 Index gained 10.34 points, or 0.97 percent, to 1,078.47. The Nasdaq Composite Index added 29.54 points, or 1.38 percent, at 2,177.41.
Stocks to watch on Friday are Ho Hup CONSTRUCTION [] Company Bhd, GREEN PACKET BHD [], MALAYSIAN AIRLINE SYSTEM BHD [] and PETRA PERDANA BHD []. However, trading is expected to be light in view of the holidays ahead next week.
Meanwhile, the fight for control of Ho Hup has resumed following a week-long lull.
Ho Hup's second-largest shareholder, Datuk Low Tuck Choy who holds 23.11 million shares representing a 22.66% stake in the company, has called for another EGM to remove the present board of directors after the first one was called off owing to a technicality.
The first EGM, which was scheduled for Feb 4, was cancelled after the company's largest shareholder, Extreme System Sdn Bhd, obtained a restraining order from the High Court here.
Green Packet Bhd posted net loss of RM94.54 million in its fourth quarter ended Dec 31, 2009, compared with RM37.22 million in losses a year ago as it made additional provisions for impairment of long term investments, investments in associates and inventories of about RM26 million.
MAS's share price and the entitlement to the rights shares, which fell sharply on Thursday, should stabilise today. Analysts said the heavy trading in the entitlement to the rights shares was "churned" by traders and viewed the selling as overdone.
MAS chief financial officer Mohd Azha Abdul Jalil tells the Edge FinancialDaily that MAS's rights issue has the support of Khazanah Nasional and Penerbangan Malaysia Berhad who have undertaken to subscribe for their entitlements which amounts to 69.33% of the rights issue.
"Further, Khazanah has undertaken to apply for excess rights amounting to 1.96% of the rights issue. The remaining open portion of the rights issue has been underwritten by Maybank Investment Bank Bhd, CIMB Investment Bank Bhd and RHB Investment Bank Bhd which has provided MAS with a high degree of certainty in this equity fund raising exercise," he said.
In Petra Perdana Bhd, its new board of directors has yet to decide on whether to retain or dispose of its remaining 29.59% stake in PETRA ENERGY BHD [], said its executive director Shamsul Saad.
EON CAPITAL BHD [] (EONCap), in a strong capital position, is in no hurry to find a merger partner or be taken over, said EON Bank Bhd group CEO Michael Lor.
