0415 GMT [Dow Jones] Sime Darby (4197.KU) down 0.2% at MYR8.51 vs intraday high of MYR8.54, after proposing to raise up to MYR4.5 billion from Islamic bonds for working capital, future investments. "The stock opened higher and is probably down because of prevailing weak market sentiment," says dealer with local brokerage; KLCI last down 0.3%. Thinks announcement should have positive impact in medium term as funds will likely be used for investments, which are likely earnings and value accretive. Tips immediate support at psychological MYR8.50 with resistance at today's high of MYR8.54.
Dow Jones Newswires
September 30, 2009 00:15 ET (04:15 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
Wednesday, September 30, 2009
DJ MARKET TALK: Charts Tip Genting As Buy, LT Target MYR8.0-MIMB
0259 GMT [Dow Jones] STOCK CALL: MIMB Research tips Genting (3182.KU) as Buy based on charts; says stock building strong bullish base after breaking 16-month trend line in early April. "A small bozu candle has been completed at RM5.40. The whole bottom may also looks like a V-bottom with targets towards the next resistance of MYR7.10," says MIMB; adds long term potentials remain up given volume and market internals. "Both RSI and MACD are at encouraging bull territories. With all crucial moving averages penetrated, the stock may find more momentum easily to the upside," says MIMB; suggests conservative traders should hold for at least a year with a potential long term target pegged at MYR8.00. Stock last down 0.3% at MYR6.94.
Dow Jones Newswires
September 29, 2009 22:59 ET (02:59 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
Dow Jones Newswires
September 29, 2009 22:59 ET (02:59 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
DJ MARKET TALK: Sime May Rise; Plans To Raise MYR4.5B Via Bonds
0043 GMT [Dow Jones] Sime Darby (4197.KU) may rise to test recent high of MYR8.60, says dealer with local brokerage; this, after conglomerate proposes to raise up to MYR4.5 billion from Islamic bonds for working capital, future investments. "The proposal is likely to be viewed positively as borrowing costs are now at near historical lows.. Sime will likely be able to price the sukuk at attractive yields given current excess liquidity," says dealer. Stock closed +0.1% at MYR8.53 yesterday.
Dow Jones Newswires
September 29, 2009 20:43 ET (00:43 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
Dow Jones Newswires
September 29, 2009 20:43 ET (00:43 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
DJ MARKET TALK: Sunway Holdings May Rise On MYR147.36M Project
2357 GMT [Dow Jones] Sunway Holdings (4308.KU) may rise to MYR1.44 (30-day moving average) vs Tuesday's close at MYR1.39 (flat); this after wholly-owned unit Sunway Construction accepted MYR147.36 million contract from Putrajaya Holdings to build 16-story hotel, 11-story office tower in Putrajaya. Project expected to start October 7; company targets completion within 36 months. "Investors may accumulate Sunway shares as this is quite a sizable project and is expected to contribute positively to the group's earnings from 2010," says one dealer. Based on conservative gross margin of 10%, says project could add around MYR15 million to gross profit over duration of project. (VGB)
Dow Jones Newswires
September 29, 2009 19:57 ET (23:57 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
Dow Jones Newswires
September 29, 2009 19:57 ET (23:57 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
Tuesday, September 29, 2009
DJ MARKET TALK: CIMB Keeps Overweight On Malaysia Equities
0056 GMT [Dow Jones] CIMB keeps Overweight call on Malaysia equities, retains KLCI end-2010 target of 1400 points; in strategy report, analyst notes foreign funds turned net buyers of Malaysian equities in August. "Though expected, we are heartened by this news as the steep sell down in July had caught us by surprise. Another cause for cheer is the size of net inflow, which, at $87 million, is the second highest monthly increase this year," analyst says. Thinks September could be another month of net inflows as global markets, though charting new year-highs, have been jittery, investors have been quick to take profit, shift to more defensive markets. KLCI ended down 0.9% at 1205.95 Monday.
Dow Jones Newswires
September 28, 2009 20:56 ET (00:56 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
Dow Jones Newswires
September 28, 2009 20:56 ET (00:56 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
DJ MARKET TALK: Hwang-DBS Vickers Initiates TA Enterprise At Buy
0306 GMT [Dow Jones] STOCK CALL: Hwang-DBS Vickers initiates coverage on TA Enterprise (4898.KU) with Buy call, MYR2.10 target based on 13X FY11-12F EPS for broking business and revaluing its 55% stake in TA Global's property assets at current market value. Says TA is established player in local stockbroking industry, 5th largest market cap property stock with prime KLCC landbank; but stockbroking remains core earnings driver contributing 60% of EBIT for FY10F. Adds TA is better alternative to Bursa Malaysia to ride recovery in trading volumes given latter's richer valuations. "Given TA's strong retail base, it has managed to raise its market share of the stockbroking business to 6.4% up to August 2009 vs 3.9% in 2008. Projects TA to post net profit of MYR107 million in FY10 (ending January 31), MYR124 million in FY11 and MYR153 million in FY12 vs MYR92 million in FY09. Stock last +1.4% at MYR1.41.
Dow Jones Newswires
September 28, 2009 23:06 ET (03:06 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
Dow Jones Newswires
September 28, 2009 23:06 ET (03:06 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
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