March 28th - Stocks To Watch Hwang DBS, Berjaya Corp, BHIC, Scientex, KSK, Hai-O, TA Enterprise

Stocks To Watch Hwang DBS, Berjaya Corp, BHIC, Scientex, KSK, Hai-O, TA Enterprise
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Wednesday, 27 March 2013 20:21


A + / A - / Reset
KUALA LUMPUR (Mar 27): Based on corporate announcements, the stocks that may stir some interest include Hwang DBS, Berjaya Corp, BHIC, Scientex, KSK, Hai-O and TA Enterprise.

Hwang DBS (M) Bhd recorded a net profit of RM9.5 million for its second quarter ended Jan 31, 2013, a 39% plunge from RM15.5 million posted in the previous corresponding quarter.

But quarterly revenue was at RM110.9 million, which was a gain from the RM91.5 million recorded previously.

Hwang DBS said the lower profitability was due mainly to lower gain on securities held-for-trading, loss on derivatives portfolio, reduced stockbroking income, higher marketing expenses and increase in loan-loss provisioning.

Looking forward, the group said it foresees the rest of the 2013 financial year to “continue to be affected by the volatile and challenging economic environment.”

BERJAYA CORPORATION BHD [] recorded a 93% year-on-year plunge in net profit to RM1.03 million for its financial third quarter ended Jan 31, 2013, down from RM15.28 million posted in the previous year’s corresponding quarter.

Revenue also declined to RM1.77 billion from RM1.81 billion previously, mainly due to lower revenue from Toto betting operation segments, the company said.

The group’s retail distribution business also suffered reduced sales while its hotels and resorts business saw lower occupancy rates.

Boustead Heavy Industries Bhd (BHIC) has been appointed by Eurocopter, a French military helicopter manufacturer, as the maintenance, repair and overhaul (MRO) service provider to helicopters sold by Eurocopter to the Malaysian armed forces.

BHIC said its subsidiary BHIC Aeroservices Sdn Bhd has signed an MRO centre agreement with Eurocopter.

The MRO centre agreement, which will come into force upon signing by both parties, will be valid for three years and may be extended for successive two-year periods.

The MRO centre agreement is not expected to have any material effect on the earnings of BHIC Group for the financial year ending December 31, 2013, but will contribute positively to its future earnings, BHIC said.

Scientex Bhd saw a 26.9% jump in its net profit for the second quarter ended Jan 31, 2013, to RM25.6 million after reaping maiden contributions from the newly-acquired businesses of GW Plastics Holdings Bhd which were completed in January 2013.

Group revenue in 2Q13 also rose 26.4% to RM271.1 million from RM214.5 million previously.

The increase was due to higher demand for Scientex’s stretch film from export markets and sales of stretch film, food and beverage (F&B) packaging contributed by newly acquired Great Wall Plastic Industries Bhd and GW Packaging Sdn Bhd.

The company said the acquisition has boosted its overall stretch film capacity and allowed it to have a footprint in the recession-proof F&B packaging segment. It is optimistic of the performance of the group’s manufacturing and property divisions.

KSK Group Bhd executive chairman and major shareholder Tan Sri Kua Sian Kooi is privatising the general insurer via a selective capital reduction and repayment.

KSK said Kua, who owns 51.38% in KSK, formerly known as KURNIA ASIA BHD [], is making a capital repayment of 65 sen a share under the exercise.

At 65 sen, the capital repayment is a 13 sen or 17% discount to the company's latest reported book value of 78 sen a share.

HAI-O ENTERPRISE BHD [] recorded a higher net profit and high revenue for the third quarter to Jan 31, 2013.

It posted a net profit of RM10.9 million in its current third quarter compared to RM9.1 million in previous corresponding quarter, and achieved a turnover of RM 68.8 million from RM 62.8 million.

The increase in the group’s trading profit was mainly contributed by higher sales in its multi-level marketing division, wholesale division. But its retail division suffered a sharp fall in profit contribution as the Chinese New Year fell in the fourth quarter of current financial year.

TA ENTERPRISE BHD [] reported a pre-tax profit of RM40.9 million and a revenue of RM232.5million for the fourth quarter ended Jan 31, 2013, compared to pre-tax profit of RM28.1 million and revenue of RM192.3 million respectively achieved in the previous year’s corresponding period.

The company said the increase in revenue and pre-tax profits was mainly attributable to strong hotel performance, boosted by additional contribution subsequent to the acquisition of Movenpick hotel in Thailand during the year.

GENM 4715

[You must be registered and logged in to see this image.]

Cals wrote:GENM 4715

[You must be registered and logged in to see this image.]

fuhh

morning BC

JF wrote:morning BC

morning komrad

UOA-CG tengah CG

monster bb in the making?

power BURSA 1818

5k lot

[You must be registered and logged in to see this image.]

Cals wrote:power BURSA 1818

5k lot

[You must be registered and logged in to see this image.]

10k lot to be exact

Cals wrote:UOA-CG tengah CG

long time no see mom sudah pegi 2

bursa-cz at 0.10 cooking leh.

nitezshiro wrote:bursa-cz at 0.10 cooking leh.

Kenanga Today

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l Sector Update: Banking, Non-Bank Financials, Oil & Gas, Telecommunication, Utility and Property Developers

l 2Q13 Top 10 Stocks Picks: AMBANK, KOSSAN, MPHB, P&O, PPB, SKPETRO, TCHONG, TENAGA, TM and UEMLAND

l Results Note: HAIO

l On Our Radar: GBGAQRS

l On Our Technical Watch: CIMB, MAYBULK

l Economic Viewpoint: 2Q13 Economic Outlook

NEWS HIGHLIGHTS

l Berjaya Corp reports lower Q3 pre-tax profit of RM96.9m

l TA Global posts lower profit in FY2013

l Scientex's Q2 net profit stretches to RM25.6m

l Nam Cheong sells six vessels, expects robust order book

l Toyo Ink gets Hanoi power deal

l PJI Holdings lands RM207.0m property development project in Kota Kinabalu

l KSK exec chairman proposes selective capital repayment of 65 sen a share

FOREIGN NEWS HIGHLIGHTS

l Credit Suisse buys Morgan Stanley's European wealth arm

l VTB Group to acquire Tele2’s Russian phone unit for USD2.4b


ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l M’sia-Australia Strong Trade Growth Seen To Continue

Asia Pacific

l Indonesia Panel Approves Martowardojo As Central Bank Chief

l Vietnam Economic Growth Slows In January-March

l Investment Grade Rating For Philippines

l China And Brazil Sign $30bn Currency Swap Agreement

l Australia To Scrap Panel Setting Interbank Lending Rate

North America

l Pending Sales Of U.S. Existing Homes Decline 0.4%

l Canada Consumer Prices Post Fastest Increase Since 1991

Europe

l As Cyprus Burns, Brussels Wants 11 Billion Euros More

l Moody's Cuts Country Ceilings On Cyprus

l BOE Says U.K. Banks Have A Capital Shortfall Of $38 Billion

Currencies

l Dollar Gains As Italy ‘Mess’ Puts Euro Below $1.28

Commodities

l Brent Steady Above $109, Robust U.S. Data Supports

l Gold Edges Up On Euro Zone Fears, Fed Stimulus Hopes

close of session

[You must be registered and logged in to see this image.]

top winner vs loser
[You must be registered and logged in to see this image.]

ace
[You must be registered and logged in to see this image.]

warrant
[You must be registered and logged in to see this image.]

Market Close KLCI rises 0.4%, bucking regional trend
Business & Markets 2013
Written by Shalini Kumar of theedgemalaysia.com
Thursday, 28 March 2013 17:26


A + / A - / Reset
KUALA LUMPUR (Mar 28): The FBM KLCI ended on a positive note yet again, despite external concerns over Italian politics and China banking stocks.

At 5.00 pm, the benchmark index rose 6.47 points or 0.4 % to settle at 1674.04 points. It hit a peak of 1675.87 points during intra-day trades.

According to JF Apex Securities senior analyst Lee Cherng Wee, new concerns emerged over Italy’s political situation and its effects on the euro together with the Chinese government’s crackdown on the shadowy banking.

“The market has gained a lot since the beginning of the week, so definitely there are investors who look at these fresh concerns and lock in their profits,” he said.

“However, the KLCI is bucking the trend at the moment compared to the other regional markets – but that is only the index. If you look at the broader market, it seems to be quite neutral. Local investors are being cautious and staying on the sideline,” he added.

Investors are waiting for the Malaysian Prime Minister to announce the dissolution of Parliament.

The general election must be held by end-April and many cautious and risk-averse investors have scaled down their holdings in the local market.

Across Bursa Malaysia, about 917 million shares, worth some RM2 billion were traded. There were 393 gainers versus 287 decliners.

The top gainer was Panasonic Manufacturing Malaysia Bhd while the leading decliner was AEON Co (M) Bhd. The most active counter was GPRO TECHNOLOGIES BHD [].

According to Reuters, Japan's Nikkei stock average and other indexes in the region had closed lower in their final session of the quarter.

Japan’s Nikkei 225 closed 1.3% lower, Australia’s S&P ASX 200 fell 0.6% and South Korea’s Kospi ended flat.

Hong Kong’s Hang Seng ended 0.7% lower while the Shanghai Composite Index was 2.8% down.

Singapore’s STI also ended 0.2% down.

The euro hovered near a four-month low and safe-haven German government bonds rose on Thursday, as fears of a potential run on Cyprus's banks when they reopen later stoked investors' concerns.