The Star Online: Business
The Star Online: Business |
- Dayang extends gains, eye on RM10b Pan Malaysia hook-up project
- Malaysia-Market factors to watch on April 15(Monday)
- KLCI up in early trade, Petronas stocks, banks up
| Dayang extends gains, eye on RM10b Pan Malaysia hook-up project Posted: 14 Apr 2013 07:06 PM PDT KUALA LUMPUR: Shares of Dayang Enterprise extended their gains on Monday to a high of as analysts expected the company to clinch a substantial contract from the RM10bil Pan Malaysia hook-up commissioning project. At 9.54am, Dayang was up 11 sen to RM3.45 with 1.63 million shares done while the call warrants, Dayang-CD jumped 10.5 sen to 69.5 sen. The FBM KLCI rose 1.46 points to 1,699.99. Turnover was 157.17 million shares valued at RM136.05mil. There were 141 gainers, 185 losers and 176 counters unchanged. Recent reports stated about RM8bil to RM10bil worth of hook-up and commissioning projects were due to be given out "very soon" for the so-called Pan Malaysia cluster, besides contracts for marginal oilfields and the replacement of expiring brownfields. Hwang DBS Vickers Research (HDBSVR) said it understood that the contracts for the project might be awarded soon, after the delays in the first quarter of 2013. "We remain optimistic Dayang will clinch a substantial contract given its proven and recognised track record. We take the cue from its new order for a workboat, Dayang Opal, which is scheduled for delivery by December 2013; this indicates more work orders going forward," it said. HDBSVR raised FY14 and FY15 earnings by 15% and 10%, as it expected RM400mil in annual order replenishment in anticipation of large HUC contracts. "We raised the target price to RM4 (15 times FY14 EPS) after upgrading earnings and moving valuation base to FY14. Dayang has gained 40% year-to-date, but we believe winning a chunk of the five-year HUC mega project will be a game-changer for the company - it will accelerate growth over the next five years. Our target price implies 20% upside potential," it said.
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| Malaysia-Market factors to watch on April 15(Monday) Posted: 14 Apr 2013 06:27 PM PDT KUALA LUMPUR: Following is a list of events in Malaysia as well as news company-related and market news whichcould have an influence on the local market. GLOBAL MARKETS-US data douses equity rally, gold down 4 percent SE Asia Stocks-Thailand at 1-week high; others mixed WHAT IS HAPPENING IN MALAYSIA, IN TIMES LOCAL FOLLOWED BY GMT: * Deputy Prime Minister Muhyiddin Yassin meets writers at Pacific Balroom, Seri Pacific Hotel at 9 am (0100 GMT) * Prime Minister's wife Rosmah Mansor attends 'Nurani Sayang' event - spends time with pre-school kids at Sekolah Kebangsaan Ampang Campuran, Jalan Ikan Jelawat, Kampung Ampang Campuran, Ampang at 4 pm (0800 GMT) MARKET NEWS > Nikkei set to fall after weak U.S. data strengthens yen > Wall St ends down but indexes notch sharp weekly gains > Bond prices jump on weak U.S. data, Cyprus jitters > Dollar starts week below recent 4-yr high against yen > Gold sinks into bear market on institutional exodus > Brent oil hits 9-month low near $101, bounces on spread trade > Palm down to near 2-wk low on uncertain overseas markets, MALAYSIA IN THE NEWS: > EXCLUSIVE-Lion Air crash pilot felt jet "dragged" from sky > DEALTALK-Blank check IPOs bring hope and caution to Malaysia > Sands lawsuits shine harsh light on Macau's casino paradise > All safe as Lion Air plane misses Bali runway, lands in sea > Japan, U.S. agree on Tokyo joining Trans-Pacific trade talks > Iranian businessman sanguine about censure > Indonesia wants to scrap Southeast Asian rubber pact > Malaysian Airline shares drop after rights issue confirmed - Reuters VEGOILS-Market factors to watch April 15(Monday) KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures dropped to a near two-week low in choppy trade on Friday, with no clear guidance from overseas markets and investors worried a bird flu outbreak in China could crimp demand from the world's second largest edible oil buyer. * Chicago Board of Trade wheat futures rose 2.4 percent on Friday, rallying through key technical resistance amid signs of good export demand and worries about the health of the U.S. crop, traders said. * Brent crude oil fell to a nine-month low near $101 a barrel on Friday as a broad investor sell-off in commodities triggered a fall as much as $3 a barrel, but the global oil benchmark pared losses in afternoon New York trade as bargain hunters emerged. MARKET NEWS * Commodities sold off on Friday, with gold sinking more than 4 percent to break below $1,500 an ounce, while world equity markets fell after a dour reading of U.S. consumer sentiment and poor retail sales reinforced fears of a weak U.S. economy that would hurt global growth. * Major commodity markets fell sharply on Friday, with oil tumbling to a nine-month low and gold hitting a 20-month low as investors worried about a weak global economic outlook and a plan for Cyprus to sell gold reserves. RELATED NEWS > No.1 biodiesel exporter Argentina at half capacity -chamber > UPDATE 2-India's March palm oil imports fall for 2nd month > Indonesia cocoa bean imports to almost double in 2014 > India soymeal exporters renegotiate deals with Iran -trade > Speculators hike record sugar net short, slash cotton net long > Pakistan yet to ship wheat to Iran in barter deal > COLUMN-Rubber prices may struggle despite Thailand's efforts DATA/EVENTS > Cargo surveyors to issue April 1-15 export data on Monday. - Reuters
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| KLCI up in early trade, Petronas stocks, banks up Posted: 14 Apr 2013 06:23 PM PDT KUALA LUMPUR: Petronas-related companies and banks led the FBM KLCI marginally higher in early trade on Monday but key regional markets were cautious. At 9.03am, the FMB KLCI was up 0.45 of a point to 1,698.98. Turnover was 22.06 million shares valued at RM10.59mil. There were 69 gainers, 47 losers and 85 counters unchanged. Reuters reported Asian shares fell after global equities and commodities slumped late last week on weak U.S. growth and rekindled worries in the euro zone, turning investor sentiment cautious ahead of a batch of Chinese data due later in the day At Bursa Malaysia, Hwang DBS Vickers Research said the KLCI, after gaining 71.6 points or 4.4% in three weeks, could pause for a breather ahead. "On the downside, we have set the first two support levels at 1,680 and 1,655, respectively. Beyond the short-term consolidation, the key market barometer could be eyeing to challenge the resistance line of 1,720 again," it said. BAT was the top gainer, rising RM1.28 to RM65.58 with just 300 shares done. PetGas added 14 sen to RM19.04 and PetDag 12 sen to RM23.58 in thin trade. Among the banks, Hong Leong Bank rose six sen to RM14.50, Public Bank-foreign and RHB Capital six sen each to RM16.40 and RM8.58. There was some mild profit taking on Carlsberg, down 16 sen to RM14.10 with just 300 shares done, Genting Malaysia fell six sen tp RM3.64 and Bumi Armada five sen to RM3.83.
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