Business News - 23 Feb, 2015

Maybank, KLK and Uzma top losers in early trade after the long break for the Chinese New Year

Maybank, Kuala Lumpur Kepong and Uzma were among the biggest decliners in early Monday trade as investors awaited more fresh leads after the long break for the Chinese New Year holidays.
At 9.21am, the FBM KLCI was down 1.12 points or 0.06% to 1,806.75. Turnover was 291.59 million shares valued at RM112.88mil. There were 180 gainers, 132 losers and 194 counters unchanged.

Little respite for the ringgit

Cheap airfare is a boon for holidaymakers going overseas, but Malaysians can’t help but feel a little short-changed after a trip to money changers.
Take the Thai baht, which had advanced 13.2% over the past six months. At 8.93 last week, the baht is at its most expensive against the ringgit since 2007.

KLCI to trend higher as sentiment perks up.

BIMB Securities Research expects the FBM KLCI to trend higher on Monday after the long break for the Chinese New Year holidays, in line with the improved buying sentiment.
In its market outlook, the research house sees the 1,810 to 1,820 as the immediate resistance level.

Bursa welcomes ‘Chinese New Year’ on a positive note

Bursa Malaysia opened on a positive note in welcoming the year of the goat in the Chinese calendar bolstered by buying interest in certain bluechips, dealers said.
At 9.11 am, the key index stood at 1,808.56, up 0.69 of-a-point, after opening 3.14 points higher at 1,811.01. The bullish sentiment was also in tandem with an upbeat overnight Wall Street on Friday.

FTSE Bursa Malaysia update: 11.30am

At 11.30 a.m. today, there were 333 gainers, 275 losers and 261 counters traded unchanged on the Bursa Malaysia.
The FBM-KLCI was at 1,808.38 up 0.51 of a point, the FBMACE was at 6,635.59 up 26.81 points, and the FBMEmas was at 12,471.00 up 18.50 points.


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Market Updates - 18 Feb, 2015

Bursa Malaysia closes for CNY

Bursa Malaysia Bhd and its subsidiaries will be closed for two days from Feb 19 for the Chinese New Year holidays.

Inflation falls in January from month ago.

Malaysia’s inflation rate, measured by the consumer price index (CPI), fell in January 2015 from the previous month as transport costs declined.

The Statistics Department said on Wednesday when compared with the previous month, the CPI for January 2015 decreased by 1.1%.

Opportunities in oil and gas sector.

UOB Kay Hian Malaysia Research recently downgraded the oil and gas sector from Overweight to Market Weight, given that stock prices have recovered by an average of 30%-40% from their recent lows.

KLCI ends trade-shortened day in the red as MISC, Maxis weigh

The FBM KLCI ended the trade-shortened Wednesday in the red on some selling of MISC and Maxis as investors squared off their positions ahead of the long break for the Chinese New Year.

At 12.30pm, the FBM KLCI was down 2.22 points or 0.12% to 1,807.87. 



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Malaysian Market Summary : 13 Feb, 2015

KLCI closes at 1,800 as Maybank & Tenaga advance.

Fund buying of Maybank and a rebound in Tenaga Nasional saw the FBM KLCI close just above the critical 1,800 level on Friday, as investor's sentiment was glavanised by firmer oil prices and key regional markets.

RHB Capital - MD resigns.

RHB Capital Bhd’s (RHB Cap) group managing director (MD) Kellee Kam (pic) has tendered his resignation after more than three years at the helm. His resignation also comes after a plan to merge with two other rivals to form what would have been the country’s biggest financial group by assets was called off last month.

Oil to account for about 22% of govt revenue this year.

The oil and gas (O&G) sector is projected to account for 22% of Government revenue this year, due to the diversification of the economy over the last few years that has resulted in lesser dependence on the mining sector and lower oil prices.

Surprising 4th quarter growth despite weak oil prices.

Malaysia’s economy unexpectedly expanded by 5.8% in the fourth quarter of 2014, bolstered by strong domestic demand.

Economists had earlier anticipated that growth in the last quarter of 2014, which saw a steep drop in global oil prices, would be slower at 5% compared to the gross domestic product (GDP) of 5.6% recorded in the third quarter.

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KLCI Market Summary - 09 Feb, 2015

Market Review for KLCI

Top Gainers & Losers

KLCI to trend upward on anticipation of higher market

• The FBM KLCI is expected to trend higher today on rising risk-raking sentiment and anticipation of a higher market.
• It said under the strong supportive buying interest, the benchmark index kept its position firm throughout the trading sessions before settling near the day’s high at 1,813.25 (+ 10.04 , + 0.56%).KLCI edges up as select blue chips lift

• The FBM KLCI edged up in early trade on Monday despite the tepid sentiment at most regional markets. At 9am, the FBM KLCI gained 2.37 points to 1,815.62.
• The top gainers of the day included Nestle (M) Bhd, Public Bank Bhd, Pos Malaysia Bhd, Tenaga Nasional Bhd, Petronas Dagangan Bhd, Guiness Anchor Bhd, Petronas Gas Bhd and Vitrox Corporation Bhd.

KLCI falls on profit taking,according to China data

• The FBM KLCI fell 0.1% or 1.76 points on profit taking as Asian investors reacted to weaker China economic data. At 12.30pm, the KLCI settled at 1,811.49 points. The KLCI had earlier traded at an intraday high of 1,818.31.
• The KLCI reached 1,818.31 points in early trade and dipped down to a low of 1,805.26 points. The suspicion is that some investors started to take profit early in the day after global oil price increased.

• Top gainers included United Plantations Bhd ( Financial Dashboard), Nestle (M) Bhd ( Financial Dashboard), and LPI Capital Bhd ( Financial Dashboard). Top decliners included Tasek Corp Bhd ( Financial Dashboard) Petronas Gas Bhd and Tasek Corp Bhd
• Asia Bioenergy Tech Bhd, TMC Life Sciences Bhd and Barakah Offshore Petroleum Bhd ( Financial Dashboard) were the most-actively traded stocks on the exchange.

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Malaysia Business News Updates

Petronas' Reports less Expected profits.

In tandem with the steep decline in oil prices, Petroliam Nasional Bhd (Petronas) is expected to report less than RM10bil in pre-tax profit for its soon-to-be released fourth-quarter results for the financial year 2014 (FY14), say industry sources.

Honda Malaysia aims to increase its market share - Launsh of New HR-V compact SUV

Honda Malaysia aims to increase its market share to 12.2% this year with a sales target of 85,000 units.
Honda Malaysia is targetting to sell 700 units each month of the newly launched Honda HR-V compact SUV (sports-utility vehicle), which has a starting price of RM99,800.

Price fall in Crude Oil to affect Malaysia's export growth

The heavy fall in crude oil prices and the weaker global economy are expected to weigh down on the country’s export growth, which is projected to moderate to between 2% and 3% this year.

Public Bank Announces Record net profit.

Public Bank Bhd has declared a record net profit of RM4.52bil for its financial year ended Dec 31, 2014, up 11.17% from RM4.06bil a year earlier. Revenue improved 10.45% to RM16.86bil.

MEGB selling out its properties for RM79.7mil

Masterskill Education Group Bhd’s (MEGB) wholly-owned subsidiary Masterskill (M) Sdn Bhd (MMSB), which is seeing the entry of new shareholders, is disposing of its property assets and in Masai, Johor to a private company managed by outgoing major shareholder Siva Kumar M. Jeyapalan for RM79.7mil.

Fututech Acquires a Construction Company for RM50mil.

Construction company Fututech Bhd is acquiring a private construction company belonging to its executive chairman Tee Eng Ho for close to RM400mil, which will result in Fututech garnering a RM2bil order book from that private company,the acquisition comes with a profit guarantee close to RM150mil for three years.

Indicator for Propery Buyers

There is growing evidence of softening demand for residential property priced at RM1mil and above, as buyers turn cautious amid an abundance in the higher end of the market.

But an expanding working population in growing cities around, the country will keep demand in the affordable housing segment steady in 2015, according to speakers at the Property Market Outlook for 2015 seminar.

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Malaysia Top News - 05 Feb, 2015

KL shares lower mid-morning on weak risk appetite

At 11.02am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,798.45 points, down 4.57 points after hovering between 1,796.41 and 1,804.25.

KLCI slips on mixed market sentiment.

Mixed market sentiment led the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) to staged a marginally lower performance this morning.

But the key index managed to stay above the 1,800-level.

At 9.04am, FBM KLCI stood at 1,801.94, down 1.08 points, despite opening 0.77 of a point higher at 1,803.79.

Malaysian banks profitability first line of defence against risks, says Moody’s.

he outlook for Malaysian banks this year is certainly going to be stable with their strong profitability providing a good first line of defence against risks, said Moody's Investors Service.

Public Bank FY14 earnings up 11.2% to RM4.52b

Public Bank Bhd recorded a strong set of earnings in FY ended Dec 31, 2014 at RM4.52bil – up 11.2% on-year – underpinned by steady growth in net interest income and non-interest income, as well as stable credit costs.

Malaysia’s December exports at RM67.7b, exceed forecasts

Malaysia’s exports rose stronger-than-expected in December 2014 to RM67.7bil, an increase of 2.7% and exceeded expectations of a 1% growth, underpinned by higher exports to the US and European Union especially electrical and electronic (E&E) products.

KLCI falls in lacklustre trade

The FBM KLCI was marginally lower at midday on Thursday on some profit taking, but trading was lacklustre as investors stayed on the sidelines in tandem with the mostly muted Asian equities, as oil prices continued to remain in focus.

Foreign funds net buyers of Malaysian equities at RM333mil

Foreign funds emerged as net buyers on Bursa Malaysia on Wednesday, snapping up key index linked stocks, with net buying at RM333mil.

Maybank Research sees Eco World in more land deals with EPF.

Maybank Investment Bank Research expects the Bukit Bintang City Centre (BBCC) among landowner UDA Holdings, the Employees Provident Fund (EPF) and Eco World Development (ECW) to see more land deals between the EPF and Eco World.

Malaysia December exports grew 2.7% year on year, beat expectations

Malaysia's export growth rose to 2.7% in December from a year earlier, as its trade surplus shrank to RM9.2 billion (US$2.58 billion), government data showed on Thursday, as the Southeast Asian economy was hit by falling world prices for its its oil, gas and commodity exports. 

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Malaysian Market open Updates

The Malaysia Stock Market (FTSE KLCI) increased to 1806.42 Index points in February from 1781.26 Index points in January of 2015. Stock Market in Malaysia averaged 760.57 Index points from 1977 until 2015, reaching an all time high of 1887.07.