The Star Online: Business
The Star Online: Business |
- Malaysia Airlines share price flat after Q1 losses
- Public Bank, Petronas Gas support KLCI’s early gains
- With its sight on Apple, China smartphone maker Xiaomi unveils first tablet
| Malaysia Airlines share price flat after Q1 losses Posted: 15 May 2014 06:35 PM PDT KUALA LUMPUR: Shares of Malaysian Airlines System (MAS) were flat at 21 sen in early Friday trade after posting wider losses in the first quarter ended March 31, 2014. At 9.25am, it was unchanged at 21 sen. It was actively traded with 22.55 million shares done. The FBM KLCI fell 1.02 points to 1,878.81. Turnover was 211.50 million shares valued at RM151.77mil. There were 133 gainers, 226 losers and 214 counters unchanged. CIMB Equities Research is retaining its Reduce call on MAS with an unchanged target price of 14 sen, which is one times calendar year 2014 price-to-book value. It said MAS's Q1, FY14 core net loss of RM426mil was at 28% of its full-year forecast and broadly in line since the second half is seasonally stronger. "MAS is heading towards its largest annual loss since the Global Financial Crisis of 2009, and clearly, its management and Khazanah are working towards a deep restructuring. But unless we can put our finger on the details, we retain our Reduce call with an unchanged target price of 14 sen,"said the research house. |
| Public Bank, Petronas Gas support KLCI’s early gains Posted: 15 May 2014 06:23 PM PDT KUALA LUMPUR: Malaysia's FBM KLCI was firmer in early Friday trade, underpinned by mild gains in Public Bank and Petronas Gas but the broader market mirrored the weaker key regional markets after the overnight fall on Wall Street. At 9.11am, the FBM KLCI was up 0.95 of a point to 1, 880.78. Turnover was 126.88 million shares valued at RM82.87mil. There were 108 gainers, 167 losers and 180 counters unchanged. Reuters reported Asian shares were under pressure on Friday morning, with Japanese stocks skidding as the yen rose against the dollar, which has struggled in recent days on the back of lower US Treasury yields. A second day of losses on Wall Street pulled MSCI's broadest index of Asia-Pacific shares outside Japan down 0.2%. The index has gained about 2.1% so far on the week during which Wall Street set the tone by climbing to record highs. JF Apex Research, had in its market outlook, said: "We expect the KLCI to be negative today with immediate support at 1,870." At Bursa Malaysia, Public Bank rose eight sen to RM20.04 while Petronas Gas added 24 sen to RM24.24. BAT rose 40 sen to RM62 with just 100 shares done. Lysaght jumped 62 sen to RM3.86, United Plantations 60 sen to RM27.70 and AZRB-WA warrants surged 30 sen to 30.5 sen. However, Khind fell the most, down 25 sen to RM2.75, Carlsberg 24 sen to RM12.30 and DKSH 19 sen to RM7.69. UMW fell 18 sen to RM10.60, Eco World lost 12 sen to RM4.64 and AmBank eight sen to RM7.22. |
| With its sight on Apple, China smartphone maker Xiaomi unveils first tablet Posted: 15 May 2014 05:08 PM PDT BEIJING: Chinese budget smartphone maker Xiaomi unveiled on Thursday its first tablet, expanding its product lineup to directly challenge established rivals Samsung Electronics Co Ltd and Apple Inc. The Mi Pad, which comes in six colours, will have a 7.9 inch screen, the same size as an iPad Mini. Like other tablets, it comes equipped with wireless internet, front and back cameras and a built-in memory capacity of 16 gigabytes or 64 gigabytes. But it is priced cheaper than comparable iPad Mini and Samsung Galaxy Tab models at 1,499 yuan ($240) for the smaller version. The company did not say anything about a 4G version. "We wanted the hardware to come close to, or even surpass Apple's iPad," Xiaomi's founder Lei Jun said at the launch event in Beijing. Xiaomi's flagship smartphones, which are among the fastest selling in China, resemble Apple's iPhone. Lei said an initial version of the tablet would be available for testing by the public in mid-June, but he declined to specify a launch date or sales targets. It was also not clear if the Mi Pad would be sold outside China. The worldwide tablet market, which saw shipments of 195.4 million devices in 2013, is forecast to grow nearly 40 percent this year, according to consultants Gartner, Inc, with China especially seeing significant growth. Privately held Xiaomi became the world's sixth-largest smartphone vendor in the first quarter of 2014, according to data firm Canalys, after repeatedly doubling its sales. Its cheap yet sleek phones are popular in China, the world's largest market for smartphones. The company expects to sell 40 million phones this year, compared to 18.7 million last year and 7.2 million the year before. DIFFERENT BUSINESS MODEL Xiaomi said its Mi Pad will have a plastic case and run on its own Android-based operating system. The company, founded in 2010, leads a group of young Chinese home-grown handset brands that have successfully attracted local consumers with advanced features at lower prices than global brands. "Xiaomi has a different business model than Apple or Samsung," said Ben Thompson, founder of Stratechery.com, a technology and strategy website. "Apple makes it profits on the hardware, while Xiaomi claims they will make their profits on services." Xiaomi is now looking to expand abroad, and has already started selling its phones in Singapore and Taiwan. At an April event in Beijing, Hugo Barra, a Xiaomi vice president and former Google Inc executive, said the firm is planning to expand into Malaysia, Indonesia, the Philippines, Thailand, India, Brazil and Mexico. In October, Xiaomi launched its flagship Mi 3 smartphone, selling 100,000 units in 90 seconds when it was released online. Its low-cost Redmi handset has also saw strong sales in China and was recently launched in Singapore. Xiaomi's success also is creating new opportunities for parts suppliers in Japan, including display makers Sharp Corp and Japan Display Inc, as they bolster their offerings of high-specification features to compete with global brands. Xiaomi lists Sharp as a supplier and said it had provided the displays for the tablet. ($1 = 6.2289 Chinese Yuan)- Reuters |
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