The Star Online: Business
The Star Online: Business |
- SC, Brunei authority sign MoU on capital markets
- REDtone Q1 profit jumps 82%
- Genting stocks weigh KLCI
| SC, Brunei authority sign MoU on capital markets Posted: KUALA LUMPUR: The Securities Commission (SC) has signed a memorandum of understanding (MoU) with the Autoriti Monetari Brunei Darussalam (AMBD) to facilitate mutual efforts in building capital markets in Malaysia and Brunei. In a statement, SC said the MoU aimed to encourage greater cross-border activities, particularly in Islamic capital markets. SC chairman Datuk Ranjit Ajit Singh and AMBD managing director Dato Paduka Mohd Rosli Sabtu signed the MoU in Bandar Seri Begawan. Ranjit said the MoU would provide a framework for both parties to explore mutually-beneficial opportunities to enhance greater access to the respective capital markets. He said the MoU would promote investment activities aligned with the objectives of Asean capital market integration. "This collaborative partnership is an important initiative in our efforts to grow our capital markets and to create greater channels for investor participation in our respective markets, including in the area of Islamic wealth management," he said. — Bernama |
| Posted: PETALING JAYA: ACE Market-listed REDtone International Bhd posted a sterling 81.72% increase in net profit to RM3.65mil for its first quarter ended Aug 31 from RM2.01mil a year ago, driven by its data and broadband services. Turnover was up 17.74% to RM36.11mil versus RM30.67mil previously on growth in data revenue, which surged 97.31% to RM22.43mil from RM11.37mil. Its voice revenues, however, moderated by 23.13% to RM13.62mil, while gross profit margins for data stayed elevated at 41.37%, down slightly from 45.86% in the same period last year. In contrast, the firm's voice business delivered a gross profit margin of 27.99%, its latest accounts show. The telco's earnings per share for the June-August period stood at 0.74 sen compared with 0.42 sen earlier. No dividends were declared for the quarter. REDtone said its data and broadband services, which include its WiFi hotspots, were expected to be the main contributor to earnings for the current financial year. "The group intends to continue to build its success as a data and broadband solutions provider by actively tendering projects from the government sectors and telco industry, as well as securing more small and medium enterprise customers," it said yesterday. REDtone noted, however, that its legacy discounted voice call business and distribution of prepaid and reload services in China, while a "cash cow", have limited growth potential. "Nevertheless, this segment continues to generate solid cash flow to the group." The company also said its profit would be buoyed by existing collaborations with telco giants Telekom Malaysia Bhd on high-speed broadband and Maxis Bhd. REDtone closed up 1.5 sen to 73 sen on heavy trade of 3.91 million shares, after touching an intraday high of 76 sen. |
| Posted: KUALA LUMPUR: The FBM KLCI was down nearly four points lower in early trade on Thursday weighed by select blue chips, as investors took profit from Genting-related stocks. At 9.03am, the KLCI erased 3.21 points to 1,814.17. Turnover was 59.88 million valued at RM70.745mil. The broader market was firmer with 81 gainers, 69 decliners while 160 stocks were unchanged. HwangDBS Vickers Research said key indices on Wall Street fell from their record highs overnight (down between 0.4% and 0.5%) as profit-taking activity set in. "Back home, the benchmark FBM KLCI – which hit a high of 1,818.89 before losing steam to close at 1,817.38 yesterday – could continue to range-bound between its immediate support and resistance levels of 1,800 and 1,825 for now," it said. HwangDBS added stocks in focus today include YTL Power, as the group is believed to have submitted the lowest bid for a 2,000MW coal-fired power plant project; Tenaga Nasional, in the run-up to the release of its full-year FY Aug 13 financial results this evening and Aeon Credit Service Malaysia, which has proposed an issuance of subordinated perpetual notes of up to RM400mil. At Bursa Malaysia, Boustead fell six sen to RM5.18 and Tune Insurance eight sen to RM1.84. Genting Bhd fell six sen to 10.60 and Genting Plantations six sen to RM10.94. FGV fell four sen to RM4.46 and IJM four sen to RM5.79. Gainers were Puncak, up five sen to RM3.41, GTronic three sen to RM3.03 and Ho Hup, up five sen to RM1.86. |
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