#Stocks to Watch* Scomi, Hong Leong Bank, Bumi Armada, Patimas, Axiata

KUALA LUMPUR (Feb 23): The FBM KLCI is expected to remain volatile and trend lower next week, given the external regional weakness as well as the uncertainties surrounding the yet to be announced 13th General Election date that has kept both local and foreign investors on tenterhooks.

Mercury Securities has advised investors to focus on value and buy on weakness when the market “overreacts” in the run up to the election.

In a market strategy report Friday, Mercury Securities’ analyst Jack Chan said the upcoming thirteenth general election (GE) was the key macro risk and Mercury sees Malaysian equities to be highly correlated in the short-term.

Chan said Mercury favoured stocks with strong fundamentals, attractive valuations and presence outside Malaysia.

“Before the filtering, we have chosen companies with at least RM5 billion market capitalisation because of liquidity concerns."

Chan said Mercury was Overweight on YTL Corp Bhd, IHH Healthcare Bhd, IOI Corp Bhd, CIMB Group Holdings Bhd, Gamuda Bhd and AirAsia Bhd.

Meanwhile, Affin Investment Bank Bhd vice president and head of retail research Dr Nazri Khan said the lack of follow-through after testing 1,600 psychological level (limited bounce, low volume, negative breadth) with FBM KLCI failing to reach its weekly high of 1,630 level may suggest a pullback (instead of rally) in the offing.

“Overall, we expect the local stock market to stay weak this week with key sectors (finance and services) leading the index lower (especially after the uninspiring debut of Tune Insurance).

“On a positive note, we view the launching of RM30 billion Singapore-KL high speed train project as the best immediate catalyst to cushion market downside.

“We expect the project to be a direct boost to properties and construction sector (and indirectly to gaming and hospitality sector due to more tourist arrivals) with stocks like UEMland, MRCB, IJMLand, SPSetia, E&O, Sunway, Shangrila and Genting to be major beneficiaries,” he said.

Among the stocks that could be in focus next week are Scomi Group Bhd, Hong Leong Bank Bhd, Bumi Armada Bhd, Patimas Computers Bhd and Axiata Group Bhd.

The Edge weekly in its latest edition reported that Scomi is now tipped to secure a RM2.3 billion contract for the provision of drilling fluids.

The Edge reported that Petroliam Nasional Bhd (Petronas) was believed to have picked Scomi over a few international names to get the lion’s share of the five-year drilling fluids contracts available under the Pan Malaysia mega tender.

Citing an official with an oil company, the Edge said that last July, Scomi’s 48%-owned oilfield services unit Scomi KMC Sdn Bhd tendered for two packages under the Pan Malaysia mega tender – the conventional and unconventional packages worth a total of US$1 billion (RM3.11 billion) to US$1.6 billion.

Hong Leong Bank announced last Friday that it posted a net profit of RM508 million for the second quarter ended 31 December 2012, up 45.5% from RM349 million in the corresponding quarter last year.

Hong Leong Bank declared an interim dividend of 15 sen per share less income tax of 25% for the financial year ending 30 June 2013. For second quarter of last financial, dividend offered was 11 sen.

Bumi Armada, controlled by tycoon Ananda Krishnan, reported a 13% drop in fourth quarter profit from a year earlier as higher operating and finance cost ate into the oil and gas (O&G) support services provider's bottomline.

Bumi Armada said net profit came to RM109.15 million in the quarter ended December 31, 2012 (4QFY12) against RM124.76 million previously although revenue

rose 29% to RM477.77 million from RM370.85 million.

Patimas said it has not obtained any contract worth RM160 million, as reported by Chinese newspaper and Bernama.

In response to a query from Bursa Malaysia last Friday, the company said: “After due inquiry with our directors and the management, we wish to inform that the company has not received any award of biometric authentication contract worth RM160 million as reported in Nanyang Siang Pau on Feb 21.”

Axiata Group Bhd has almost doubled its dividend payout to RM3 billion for FY12 ended Dec 31 from RM1.6 billion in FY11.

“We have progressively increased our dividend payout from 60% in FY11 to 70% for our 2012 financial year, with a one-off special dividend of RM1 billion,” group CEO Datuk Seri Jamaludin Ibrahim said at a briefing last week.



Get stories like this on the Yahoo app and discover more every day.
Download it now.
  • Political Hotspots May Bubble Up on G-20 Sidelines in China Bloomberg - 38 minutes ago

    Last year’s summit in Turkey was overshadowed by Islamic State’s deadly attacks on Paris just days before. The previous year in Australia, talks were dominated by Russia’s occupation of Crimea and its alleged support for Ukraine separatists. The … More »

  • EU tax avoidance action could hurt foreign investment: U.S. Treasury Reuters - 43 minutes ago

    The actions of European regulators could hurt foreign investment, the U.S. Treasury said on Tuesday after the European Commission ruled Apple must pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government. "The … More »

  • White House 'concerned' EU tax penalty on Apple may hit U.S. taxpayers Reuters - 43 minutes ago

    The White House said on Tuesday it was concerned about a European Commission order for Apple Inc to pay billions in unpaid taxes to Ireland because it seemed TO undermine joint U.S.-EU progress on creating a more fair international tax system. … More »

  • EU hits Apple with 13 billion euro Irish tax demand
    EU hits Apple with 13 billion euro Irish tax demand Reuters - 43 minutes ago

    BRUSSELS/DUBLIN (Reuters) - The European Commission ordered Apple Inc to pay Ireland unpaid taxes of up to 13 billion euros ($14.5 billion) on Tuesday as it ruled the firm had received illegal state aid. Apple and Dublin said the U.S. company's tax … More »

  • S&P 500’s August Advance in Peril as Apple Slumps; Dollar Climbs Bloomberg - 48 minutes ago

    The S&P 500 Index dropped from near a record high as the iPhone maker was ordered to pay 13 billion euros ($14.5 billion) plus interest in a European Union tax crackdown. The dollar rose against most of its major peers, while Treasuries held onto … More »

  • Oil falls on strong dollar, crude glut; storms limit losses
    Oil falls on strong dollar, crude glut; storms limit losses Reuters - 1 hour 21 minutes ago

    Oil prices fell Tuesday, with Brent losing nearly 2 percent, as the dollar rallied and glut worries grew amid forecasts for higher U.S. crude stockpiles and Iran's remark that it was on target to reach peak production. News that energy firms in the … More »

  • Business Highlights Associated Press - 1 hour 24 minutes ago

    ___ EU orders Apple to pay up to 13B euros in back taxes Apple has to pay up to 13 billion euros ($14.5 billion) — plus billions more in interest — in back taxes to Ireland after the European Union found ... … More »

  • Wall St. weighed by Apple but banks shine on
    Wall St. weighed by Apple but banks shine on Reuters - 1 hour 25 minutes ago

    Apple Inc was the largest weight on U.S. stock indexes on Tuesday after antitrust regulators ordered the company to pay about $14.5 billion in back taxes to the Irish government, but gains in bank shares partly offset the decline. The S&P 500 fell … More »

  • Templeton’s Hasenstab Finds Haven in Emerging-Market Assets (1) Bloomberg - 1 hour 26 minutes ago

    In this new economic world, emerging markets are becoming a surprising haven, according to Franklin Templeton bond manager Michael Hasenstab, who beat almost all his peers for years until making wrong-way bets on the yen and Treasuries. While his … More »

  • Perceptron reports 4Q loss Associated Press - 1 hour 30 minutes ago

    The Plymouth, Michigan-based company said it had a loss of $1.66 per share. Earnings, adjusted for non-recurring costs, came to 8 cents per share. The industrial measurement and inspection company posted ... … More »

  • EU ruling on Apple stirs calls for U.S. tax reform
    EU ruling on Apple stirs calls for U.S. tax reform Reuters - 1 hour 36 minutes ago

    A European Commission order requiring Apple Inc (AAPL.O) to pay Ireland $13 billion euros ($14.5 billion) in unpaid taxes on Tuesday drew swift rebukes from the Obama administration and lawmakers in Congress, while reigniting calls for U.S. tax … More »

  • ICBC Halts Bad-Loan Increases With $6.3 Billion of Write-Offs Bloomberg - 1 hour 38 minutes ago

    ICBC wrote off 42 billion yuan ($6.3 billion) of loans in the first half, 35 percent more than a year earlier, an earnings statement showed Tuesday. “It’s a race of NPL formation against NPL disposal,” Yi Huiman, ICBC’s chairman, told analysts at a … More »

  • If Singapore Wants a Facebook, Dual-Class Shares Aren’t Enough Bloomberg - 1 hour 38 minutes ago

    Some of the world’s largest companies, including Facebook Inc. and Alphabet Inc., have multiple share classes, which usually are in place to allow minority shareholders to have majority voting rights. An independent body on Monday said it was in … More »

  • APNewsBreak: Ohio State tells alumni clubs to fall in line Associated Press - 1 hour 40 minutes ago

    Ohio State University is requiring its roughly 150 alumni clubs and societies to keep mum when it comes to disparaging comments about the school, or risk losing the money and other perks it provides them. ... … More »

  • How the Dow Jones industrial average fared on Tuesday Associated Press - 1 hour 51 minutes ago

    Stocks fell slightly on Tuesday in another quiet day on Wall Street as hesitant investors remained on the sidelines as a slow summer winds down. On Tuesday: The Dow Jones industrial average fell 48.49 ... … More »

  • US stocks mostly lower as investors wait for jobs report
    US stocks mostly lower as investors wait for jobs report Associated Press - 1 hour 55 minutes ago

    Stocks fell slightly on Tuesday in another quiet day on Wall Street as hesitant investors remained on the sidelines as a slow summer winds down. Shares of the candy company Hershey plunged after it walked ... … More »

  • Palo Alto forecasts revenue below estimates, shares drop
    Palo Alto forecasts revenue below estimates, shares drop Reuters - 1 hour 55 minutes ago

    (Reuters) - Cyber security firm Palo Alto Networks Inc forecast current-quarter revenue and profit below analysts' estimates, sending its shares down 3 percent in extended trading on Tuesday. However, ... … More »

  • CM posts 4Q profit Associated Press - 2 hours 1 minute ago

    The New York-based company said it had profit of 29 cents per share. Earnings, adjusted for investment costs, were 32 cents per share. The specialty finance company posted revenue of $7.8 million in the ... … More »

  • Ooma reports 2Q loss Associated Press - 2 hours 12 minutes ago

    On a per-share basis, the Palo Alto, California-based company said it had a loss of 19 cents. Losses, adjusted for stock option expense and amortization costs, came to 5 cents per share. The results exceeded ... … More »

  • Kurdish-backed fighters in Syria agree Turkey truce
    Kurdish-backed fighters in Syria agree Turkey truce AFP News - 2 hours 15 minutes ago

    Kurdish-backed militias in Syria agreed Tuesday to a US initiative to stop fighting Turkish forces whose week-old incursion in the country has stoked tensions between Washington and Ankara. The truce was announced separately by a senior US defence … More »

  • Matrix Service beats 4Q profit forecasts Associated Press - 2 hours 17 minutes ago

    The Tulsa, Oklahoma-based company said it had profit of 34 cents per share. The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for ... … More »

  • Markets Right Now: US markets end lower in quiet trading Associated Press - 2 hours 33 minutes ago

    The latest on developments in global financial markets (all times local): 4:00 p.m. Stocks are closing slightly lower as a summer slowdown continues on Wall Street. Hershey slumped 11 percent and Mondelez ... … More »

  • Potash Corp, Agrium talk merger; competition scrutiny expected
    Potash Corp, Agrium talk merger; competition scrutiny expected Reuters - 2 hours 36 minutes ago

    WINNIPEG, Manitoba/WASHINGTON (Reuters) - Canada's Agrium Inc (AGU.TO) and Potash Corp of Saskatchewan Inc (POT.TO) said on Tuesday they are in talks to merge, a deal that would create a fertiliser and farm retailing giant worth more than $25 … More »

  • Deals of the day- Mergers and acquisitions Reuters - 2 hours 46 minutes ago

    ** Canada's Agrium Inc and Potash Corp of Saskatchewan Inc said on Tuesday they are in talks to merge, a tie-up that would create a global fertilizer and farm retailing giant as the agriculture sector struggles with soft crop prices. ** … More »

  • Grain lower, livestock higher Associated Press - 2 hours 56 minutes ago

    Grain futures were lower Tuesday on the Chicago Board of Trade. Wheat for Sept. fell 7.25 cents at $3.6325 a bushel; Sept. corn lost 7.75 cents to 3.04 a bushel; Sept. oats was off .25 cent at $1.6175 ... … More »

Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
to view quotes in your portfolios.


  • Most Actives
    Most Actives
    NamePriceChange% Chg
  • % Gainers
    % Gainers
    NamePriceChange% Chg
  • % Losers
    % Losers
    NamePriceChange% Chg

Market Data

  • Currencies
    NamePriceChange% Chg
  • Commodities
    NamePriceChange% Chg
  • Bonds
    TreasuryYield (%)Yield Change