The Star Online: Business

IRM Group stages mild rebound as suspension averted
UMW, Petronas stocks lead KLCI higher
Hong Leong Capital extends gains, suspension looms

IRM Group stages mild rebound as suspension averted

Posted: 06 Mar 2013 06:33 PM PST

Published: Thursday March 7, 2013 MYT 10:34:00 AM

KUALA LUMPUR: IRM Group Bhd's share price rose on Thursday after Bursa Malaysia Securities said the counter would not be suspended on Friday after it submitted its financial results for the fourth quarter ended Dec 31, 2012.

At 10.18am, it was up two sen to 12 sen. It was the second most active counter with 15.91 million shares done.

The FBM KLCI rose 2.28 points to 1,654.12. Turnover was 236.27 million shares valued at RM191.21mil. There were 201 gainers, 150 losers and 219 counters unchanged.

IRM Group had on Wednesday submitted its financial results. It reported wider net loss of RM10.33mil for Q4 ended Dec 31, 2012 versus net loss of RM3.59mil a year ago. Its revenue fell to RM20.84mil from RM39.52mil.

For the financial year ended Dec 31, 2012, its net loss rose to RM16.85mil from RM4.60mil in FY11. Revenue declined to RM114.74mil from RM166.61mil.

UMW, Petronas stocks lead KLCI higher

Posted: 06 Mar 2013 06:00 PM PST

KUALA LUMPUR: Fund buying of UMW and Petronas-related stocks pushed the FBM KLCI higher in early trade on Thursday, taking the cue from the record Wall Street performance, but there could be some profit taking later.

At 9.43am, the FBM KLCI was up 1.6 points to 1,653.44. Turnover was 165.72 million shares valued at RM118.91mil. There were 174 gainers, 106 losers and 181 counters unchanged.

Maybank KE Research said the KLCI's resistance level of 1,655 and 1,661 might cap market gains, whilst the support areas were at 1,638 and 1,651.

"The KLCI made a key all-time high of 1,699.68 on Jan 4, 2013 followed by a swing low of 1,597.00.

"Despite the US markets' rise last night, we expect the local index's rebound to test the 62% retracement level of 1,648.34 1,660.46. The index may be gaining further upward traction," said the research house.

Reuters reported Japan's Nikkei share average rose above 12,000 on Thursday for the first time in 4-1/2 years, with risk appetite supported by a record high on Wall Street and the prospect of Japan soon adopting aggressively reflationary monetary policy.

At Bursa Malaysia, UMW rose 38 sen to RM14.14. Petronas Dagangan added 28 sen to RM23.60 and Petronas Gas 22 sen to RM18.72 while BAT gained 22 sen also to RM61.22.

Hong Leong Capital continued its upward march, rising 20 sen to RM3.60 from its takeover offer price of RM1.71.

Hong Leong Bank gained 12 sen to RM14.52 and Bursa nine sen to RM6.89.

Hong Leong Capital extends gains, suspension looms

Posted: 06 Mar 2013 05:39 PM PST

Published: Thursday March 7, 2013 MYT 9:39:00 AM

KUALA LUMPUR: Shares of Hong Leong Capital continued its rally on Thursday, surging to a high of RM3.70 as investors pinning their hopes for a higher takeover price from Hong Leong Financial Group Bhd (HLFG).

At 9.18am, Hong Leong Leong Capital was up 25 sen to RM3.65, which is 113.4% above HLFG's offer price of RM1.71.

The FBM KLCI rose 3.2 points to 1,655.04. Turnover was 61.46 million shares valued at RM49.89mil. There were 140 gainers, 53 losers and 128 counters unchanged.

Trading in Hong Leong Leong Capital's shares will be suspended on April 15 as it does not meet the shareholding spread. Its last trading day will be on April 12.

Kredit: www.thestar.com.my

Rabu, 6 Mac 2013