1st July 2011

dj closed 12,414.34 +152.92 (1.25%)

hlk wrote:Petronas Chemicals to go ahead with US$1.5b Sabah urea project

KUALA LUMPUR: Petronas Chemicals Bhd will go ahead with its US$1.5 billion Sabah ammonia urea project which will have urea capacity of 1.2 million tonnes per annum.

It said on Thursday, June 30 the plant would be built on 166 acres in the Sipitang industrial park in Sabah. The RM1.5 billion development cost would be financed from internal cash reserves and external borrowings.

Petronas Chemicals said a special purpose vehicle would undertake the project and work is expected to start in the second quarter of 2012 and commissioning in 2015.

It said the new plant supported its strategy to expand its production capacity and would provide it opportunities to further capitalise on its strengths and marketing position in Asia Pacific.

Stocks to watch: Eversendai, Ekovest, MRCB, SapuraCrest


KUALA LUMPUR: Eversendai Corporation Bhd will be in focus on Friday, July 1 when it lists on the Main Board of Bursa Malaysia.

Other companies which could see trading interest are EKOVEST BHD [] and MALAYSIAN RESOURCES CORP []oration Bhd (MRCB), SAPURACREST PETROLEUM BHD [], Petronas Chemicals Bhd and MAGNA PRIMA BHD [].

Eversendai’s final institutional price was fixed at RM1.70 and final retail price at RM1.62. OSK Research has accorded a fair value of RM2.21.

To add more interest, the company’s subsidiary recently secured a RM139 million job from Qatar Petroleum.

MRCB and SapuraCrest Petroleum Bhd should see trading interest as the Prime Minister Datuk Seri Najib Tun Razak officiates at the groundbreaking for the Greater Kuala Lumpur/ Klang Valley “River of Life” project.

The Edge FinancialDaily reported both companies had on March 29 signed a joint venture and shareholders’ agreement to regulate their rights and obligations as shareholders of KL Bund Sdn Bhd (KLBSB) which would be the project delivery partner for the project.

The River of Life is an Entry Point Project (EPP) identified in the Greater Kuala Lumpur/Klang Valley National Key Economic Area under the Economic Transformation Program (ETP).

Following the agreement, KLBSB will have an authorised and issued and paid-up share capital of RM100 million and RM10 million respectively. Ekovest would hold 60% and MRCB 40% in KLBSB.

SapuraCrest Petroleum reported net profit for the first quarter ended April 30, 2011 rose 42.7% to RM72.34 million from RM50.69 million a year ago, due to higher contribution largely from drilling division.

Its revenue for the quarter declined to RM550.82 million from RM670.36 million in 2010 due to lower activities in the operation and maintenance division.

Petronas Chemicals will go ahead with its US$1.5 billion Sabah ammonia urea project which will have urea capacity of 1.2 million tonnes per annum.

It said on Thursday, June 30 the plant would be built on 166 acres in the Sipitang industrial park in Sabah. The RM1.5 billion development cost would be financed from internal cash reserves and external borrowings.

Magna Prima is acquiring a piece of property in Melbourne’s central business district for A$26 million and plans a project with an indicative gross development value of A$210 million.

Magna Prima said on Thursday, June 30 it would build a 25-storey residential development with 320 apartments on the 2,700 sq metres site. It added 62% of the apartments has already been sold.

The indicative gross development value is A$210 million and the indicative gross development cost is A$148 million.

ASIA-Shares to advance on U.S. data, Greece

WELLINGTON: Asian stocks are set for a solid start to the new quarter on Friday as positive economic data and a temporary solution to Greece's debt crisis left investors buoyant.

The main Wall Street indices closed as much as 1.3 percent higher, capping the best four day run since September.

Midwest U.S. business activity showed surprising strength during June, lifted by new orders, helping calm concerns about the economy that have weighed on markets for two months.

All 10 S&P business sectors rose, led by industrials, up 1.7 percent, and information TECHNOLOGY [], up 1.4 percent.

Gains were also boosted as fund managers looked to add winning stocks to their portfolios ahead of the quarter and month end.

Asian stocks listed on Wall Street rose 1.34 percent while world stocks, as measured by the MSCI world equity index, were up 1.3 percent to their highest level in a month, and the Thomson Reuters global stock index was 1 percent higher.

British shares rose 1.5 percent while European shares added 1.1 percent as Greek lawmakers approved additional austerity and privatisation measures to ensure it would get its next round of bailout funds.

The euro climbed further against the U.S. dollar, helped by expectations of a rate rise by the European Central Bank when it meets next week.

Japanese markets are set to rally, with Nikkei futures traded in Chicago 80 points above the last closing level in Osaka.

Australian stocks will benefit from higher metal prices as well as the overall mood, with share price index futures up 0.4 percent to a 12 point premium to the close of the underlying S&P/ASX 200 index. – Reuters

good morning to hlk and Ejam... [You must be registered and logged in to see this image.]

sun wrote:good morning to hlk and Ejam... [You must be registered and logged in to see this image.]

good morn sun n ejam

morning to all~!!!

RHBCap merger still possible[b]

Several research houses believe Aabar Investments' best and quickest exit strategy is for RHB Capital to merge with CIMB or Maybank

Good morning everyone.

Good morning HLK, Sun n Davors....its a good day! [You must be registered and logged in to see this image.]

morning all comrades .... time to rock [You must be registered and logged in to see this image.]

Greetings to all

good morning to Bern, Budgee, Chandra, Davors and Max sifu [You must be registered and logged in to see this image.]

Phoenix and David zai, morning...
recently David zai busy kah? seldom hear from you de [You must be registered and logged in to see this image.]

lets talk about GAmuda today......hehehehhehehe......break the resistant at 3.80 yesterday......will Ga muda getting higher today?[You must be registered and logged in to see this image.]

watch gamuda, airasia, sapcres, kpj, ptegas, affin, bursa, bjtoto, kencana

gamuda cm has quite big qty transacted at 0.10..just be careful

bursa cr is within range to watch....

Chandra wrote:Greetings to all

Morning Chandra ... welcome back [You must be registered and logged in to see this image.]

maxims wrote:watch gamuda, airasia, sapcres, kpj, ptegas, affin, bursa, bjtoto, kencana

noted, thank you sifu... +1 rep for the gamuda call [You must be registered and logged in to see this image.]

Morning Max Sifu and Cikgu Sun .... and thanks sifu for the trading insight [You must be registered and logged in to see this image.]

make it daytrade...from now till next week....bersih is there haunting [You must be registered and logged in to see this image.]