The Star Online: Business
The Star Online: Business |
- Malaysia Arilines slips, analysts neutral on RM3b planes purchase
- Prada-C1 call warrants tumble on last trading day
- Malaysia-Market factors to watch on Dec 19(Wednesday)
| Malaysia Arilines slips, analysts neutral on RM3b planes purchase Posted: 18 Dec 2012 07:19 PM PST KUALA LUMPUR: Shares of Malaysia Airlines (MAS) slipped in active trade on Wednesday as analysts were neutral on it purchase of 36 new ATR 72-600 aircraft worth RM3bil. At 11.03am, it was down one sen to 69.5 sen. There were 7.60 million shares done. The FBM KLCI rose 5.86 points to 1,665.30. Turnover was 225.02 million shares valued at RM312.65mil. There were 230 gainers, 197 losers and 253 counters unchanged. Of the 36 turboprop aircraft ordered, Firefly will take on 20 new aircraft whilst 16 will be inducted into the fleet of its sister company MASwings. Affin Investment research said this was MAS's move to capitalise and capture the domestic routes and compete with the impending entry of the new Indonesian airline, Malindo Airways, which is scheduled to commence operation in April 2013. "We believe the funding for the fleet could partially come from the proposed rights issue, which is expected to raise up to RM3.1bil," it said. The research house said RM1bil from the proposed proceeds would be for capital expenditure, RM1.3bil for working capital and the remaining RM770mil will be used to pare down debts. "In addition to that, we won't be surprised if MAS embarks on another capital raising exercise to fund its capex," it said. Affin Research said it was neutral on the development and it maintained its earnings forecast. "Share price has fallen to a low of 70 sen following the recent announcement of the capital raising exercise. Given the tough operating environment coupled with the group's financing risk for its huge capex programme, we maintain our SELL recommendation. "We have lowered our target price of to 64 sen (from 85 sen previously) based on a price-to-net tangible asset multiple of 1.0 time on higher risk of more capital raising exercise," it explained. |
| Prada-C1 call warrants tumble on last trading day Posted: 18 Dec 2012 06:51 PM PST KUALA LUMPUR: The call warrants of Italian luxury handbag maker Prada SpA, listed on Bursa Malaysia, Prada-C1 saw its trading value halved on Wednesday, which was the last trading day. At 10.26am, it was had fallen 16 sen to 16.5 sen with 200,000 units done. However, Prada-C2, which expires on Nov 26, 2013, rose 0.5 sen to 18.5 sen with 10,000 units done. Prada is listed in Hong Kong. The FBM KLCI was up 7.1 points to 1,666.54. Turnover was 179.59 million shares valued at RM205.76mil. There were 215 gainers, 154 losers and 236 counters unchanged. Prada-C1's conversion ratio is 30 CWs to one share and the last date and time for trading is Dec 19, 2012. The date and time of suspension is Dec 20. However, Prada-C2 was listed on Nov 27, 2012 and its expiry date is Nov 26, 2013. The issue price is 15 sen. The conversion is 40 Prada-C2 to one share. |
| Malaysia-Market factors to watch on Dec 19(Wednesday) Posted: 18 Dec 2012 05:47 PM PST KUALA LUMPUR: Following is a list of events in Malaysia as well as news company-related and market news which could have an influence on the local market. GLOBAL MARKETS-Shares rally to 3-month high on hopes for US budget deal SE Asia Stocks-Malaysia at 7-week high; Philippine snaps losing streak WHAT IS HAPPENING IN MALAYSIA, IN TIMES LOCAL FOLLOWED BY GMT: * Science, Technology and Innovation Minister Maximus Ongkili witnesses handover of Nuclear Security Support Centre by International Atomic Energy Agency to Malaysia, Furama Bukit Bintang Kuala Lumpur, Jalan Changkat Thambi Dollah, Kuala Lumpur at 1145am (0345GMT) MARKET NEWS > Tokyo's Nikkei share average opens up 1.03 pct > US STOCKS-Wall St climbs on economy bets as it looks past 'cliff' > TREASURIES-Prices fall on hopes of fiscal deal > FOREX-Euro outperforms majors, yen still pinned down > PRECIOUS-Gold price falls nearly 2 pct on hopes of US fiscal deal > Oil rises on 'fiscal cliff' optimism, refinery issues > Palm dips in rangebound trade, weak exports hurt MALAYSIA IN THE NEWS: > Malaysia billionaire invests in Italian yacht maker Wider > Foreign funds seek redemption, cash out on SE Asia > Malaysian Airline signs MoU for $981 mln ATR turboprop order > Lynas Corp gives Malaysia court update > Illicit money flows grow in China, Iraq-report - Reuters DIARY - Malaysia 19/12/12 8:17:13(Wednesday) ALL TIMES ARE PROVISIONAL AND IN LOCAL TIME FOLLOWED BY GMT IN BRACKETS WEDNESDAY, DEC 19 KUALA LUMPUR - Release of Nov 2012 Consumer Price Index. * KUALA LUMPUR - Seminar Wawasan 2020: Transformasi Malaysia at Putra World Trade Centre, Kuala Lumour at 0830am (0030). * KUALA LUMPUR - Telekom Malaysia Bhd (TM) Info-Media Sdn Bhd launches yellow pages for home at Starbucks Coffee, Bangsar Village, Jalan Telawi, Bangsar, Kuala Lumpur at 0900am (0100). * SHAH ALAM - Benalec Holdings Bhd holds AGM at Holiday Inn KL, Shah Alam at 1000am (0200). * PUTRAJAYA - Prime Minister's wife Rosmah Mansor opens the 2012 International Day of Combating Violence Against Women at the Dewan Seri Sarjana United, Kampus Putrajaya, Jalan Ikram-Uniten, Kajang at 1000am (0200). * KUALA LUMPUR - My E.G. Services Bhd's post-AGM press conference at Sime Darby Convention Centre at 1100am (0300). * KUALA LUMPUR - Science, Technology and Innovation Minister Maximus Ongkili witensses handover of Nuclear Security Support Centre by International Atomic Energy Agency to Malaysia at Furama Bukit Bintang Kuala Lumpur, Jalan Changkat Thambi Dollah, Kuala Lumpur at 1145am (0345). * SHAH ALAM - Hibiscus Petroleum Bhd holds EGM at The Saujana Hotel KL, Shah Alam at 1530pm (0730). * KUALA LUMPUR - Prime Minister Najib Razak launches Royal Malaysian Police Motorcycle Patrolling Unit at the Padang Awam BKS, Bandar Kinrara Puchong at 1700pm (0900), and leaves for New Delhi, India to attend Asean-India Summit anniversary from Bunga Raya Complex, Kuala Lumpur International Airport (KLIA) at 1900pm (1100). * KUALA LUMPUR - Deputy Prime Minister Muhyiddin Yassin attends Majlis Semai Bakti Felda 2012 at the Dewan Perdana Felda, Kuala Lumpur at 2030pm (1230). THURSDAY, DEC 20 * KUALA LUMPUR - Mimos Bhd ubiquitous nems-based sensor network and solutions media briefing at Mimos Bhd, Technology Park Malaysia, Bukit Jalil, Kuala Lumpur at 1000am (0200). * KUALA LUMPUR - Prudential Assurance Malaysia Bhd announces new chief executive officer at Double Tree Hilton, The Intermark, Jalan Tun Razak, Kuala Lumpur at 1030am (0230). * KUALA LUMPUR - FCW Holding Bhd holds AGM at Bukit Kiara Equestrian and Country Resort, Jalan Bukit Kiara, Kuala Lumpur at 1100am (0300). FRIDAY, DEC 21 * KUALA LUMPUR - Release of International Reserves as at 14 Dec 2012. * PUTRAJAYA - Greenyield Bhd holds AGM at Putrajaya Shangri-La Hotel, Taman Putra Perdana, Precinct 1, Putrajaya at 1100am (0300). TUESDAY, DEC 25 * KUALA LUMPUR - Market and Public Holiday - Christmas Day. MONDAY, DEC 31 * KUALA LUMPUR - Release of Nov 2012 MNoney Supply data. NOTE: The inclusion of diary items does not necessarily mean that Reuters will file a story based on the event. - Reuters VEGOILS-Market factors to watch Dec 19(Wednesday) KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures edged lower in rangebound trading on Tuesday, hurt by a slowdown in exports at a time when inventory levels remain at record highs. * U.S. soybean futures dropped 2 percent on Tuesday, their biggest daily decline in more than a month, due to China's decision to cancel a purchase of 300,000 tonnes of U.S. supplies, traders said. * Oil prices rose on Tuesday as apparent progress in resolving the U.S. budget crisis eased concerns that the world's top economy could slip into recession. MARKET NEWS * Global stocks advanced to their highest levels since September on Tuesday on signs of compromise in U.S. talks to stop automatic tax hikes and spending cuts that could hurt the economy next year. * Oil rallied on Tuesday on growing optimism that a fiscal deal would be reached soon to avert a U.S. recession in 2013, but most other commodities, particularly agricultural markets, closed lower on poorer demand. RELATED NEWS > COLUMN-Soy market should shake off China-led jitters: Maguire > EU 2013 rapeseed crop to increase as sowings expand- Oil World > Oil World cuts Argentine 2013 soybean crop forecast by 1 mln T > Cargill to invest $91 mln in India's food processing boom DATA/EVENTS > Reuters to host Q&A with US farm co-op Topflight Grain > Cargo surveyors to publish Malaysian exports data for Dec. 1-20 on Thursday - Reuters |
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