Wednesday, May 22, 2013

RON97 price down by 20 sen


KUALA LUMPUR: The retail price of RON97 petrol nationwide was reduced by 20 sen per litre to RM2.70 per litre from RM2.90 per litre effective last night.

This was confirmed by Domestic Trade, Cooperatives and Consumerism Minister Datuk Hassan Malek to Bernama when contacted here today.

The price of RON97 petrol was last reviewed in March 2013 and was at the RM3 per litre level in September 2012.

The retail price of RON97 petrol is determined by a "managed float" in which the price will be changed according to market forces.

Meanwhile, Deputy President of Petrol Dealers Association of Malaysia Datuk Zulkifli Abdul Mokti said the reduction in the price of RON97 petrol was welcomed and it showed the government's policy in prioritising the rakyat's needs.

"I believe this (reduction) is accurate. The government is seen as upholding its policy," he said when contacted.

He said the reduction was because the global oil market price has dropped slightly besides the policy of oil price float adopted by the government.

He also did not expect an increase in the prices of both RON95 and RON97 petrol in the near future.

In the meantime, Zulkifli emphasised that the reduction in the RON97 petrol price would not disrupt the operations of petrol stations throughout the country and would not cause losses to the operators of the petrol stations.  -- BERNAMA

Wednesday, May 15, 2013

Pharmaniaga swings into the black



PETALING JAYA: Pharmaniaga Bhd posted a higher net profit of RM24.77mil for its first quarter ended March 31, 2013, reversing a loss of RM7.9mil recorded in the preceding quarter. Revenue rose to RM500.3mil from RM482.4mil previously.

Year-on-year, the company recorded a 13.6% lower net profit for the quarter under review from RM28.68mil previously.

“It is a good start to the financial year with the group registering a higher profit.

“We achieved better operational efficiency in our domestic as well as overseas businesses. In addition, we recorded an increase in revenue as a result of heightening demand from both the government as well as private sectors.

“As such, we are indeed on track to sustain our growth momentum for the rest of the year,” chairman Tan Sri Lodin Wok Kamaruddin said in a statement.

The company has also declared a dividend of 7.5 sen per share, while its net assets per share stood at RM4.12.

The improved performance was attributed to the improved efficiency of its manufacturing division as a result of the discontinuation of outsourced manufacturing.

He further added that the company was positive of greater growth in the country’s pharmaceutical sector and was looking forward to maintaining its position as one of the leading players in this sector.

The company has also declared a dividend of 7.5 sen per share, while its net assets per share stood at RM4.12. - The Star Online

Monday, May 13, 2013

New record for Malaysian stocks




Bursa Strong broad-based buying pushes local market to record close

PETALING JAYA: Buying momentum continues in the local stock market with the benchmark FBM KLCI closing at a record high as political uncertainty eases post-general election.

The benchmark index breached the immediate resistance of 1,785 with foreign funds adding support to the market through extended buying.

The broader market was up with gainers outpacing losers 889 to 141 or a six-to-one ratio while 166 other counters were traded unchanged. The FBM KLCI closed up 0.88% or 15.52 points to 1,787.90. The index had risen to an intraday high of 1,788.03.

Volume stood at 2.86 billion shares with a face value of RM3.04bil. Banking stocks were among counters that saw buying interest with CIMB among the top gainers. The counter gained 17 sen to RM8.46, Maybank rose 14 sen to RM10.22 and Public Bank added 12 sen to RM16.72. Meanwhile, heavyweights such as DiGi gained 11 sen to RM4.80 and Tenaga Nasional rose 19 sen to RM8.45.

MIDF Investment Bank Bhd research head Zulkifli Hamzah said in a report that foreign investors had given a resounding “thumbs-up” for the outcome of the general election by buying an unpredecented RM3.1bil net of Malaysian equity in the open market, marking a record 22 straight weeks of net foreign buying.

“So far this year, foreign investors have bought RM17.4bil net of Malaysian equity in the open market compared with RM13.7bil in 2012. Foreign participation rate surged 52% to RM1.86bil, the highest ever, and prior to last week, participation rate averaged only RM979mil per week in 2013,” he said.

While foreign investors have been snapping up Malaysian equities, local investors took the opportunity to offload their positions significantly.

“Local retail investors sold RM727mil last week of heightened participation rate of RM1.5bil. So far this year, local retailers have already sold net RM5.9bil, surpassing the RM4.2bil recorded for the entire 2012,” he noted.

Zulkifli said selling by local funds also hit unprecedented levels last week, with net sale by local funds hitting RM2.39bil, also at an unpredecented participation rate of RM3.57bil.

“So far in 2013, local funds have reduced their equity exposure by a massive RM11.5bil net, compared with RM9.5bil for the entire 2012.”

The FBM KLCI topped the charts with a historic high of 1,826.22, up 131.45 points, or 7.76% before ending last Monday up a hefty 57.25 points, or 3.38% to 1,752.02 points.

The index gained a total of 77.61 points last week, or 4.6% to 1,772.38, versus 1,694.77 on May 3.

“On our end, we are actually not that hot on the market, as we think valuations are quite fair at this point in time. We think the oil and gas sector and consumer sector would hold up fairly well compared to the other sectors,” Fortress Capital Asset Management (M) Sdn Bhd chief executive officer Thomas Yong said.

He said stocks are quite fairly priced now according to their topline projections but there might still be the possibility of the goods and services tax being implemented, which might impact projections.

“Malaysian equities have been on a low beta over the past few years with a defensive stance, and it is always positive when external funds are buying in,” he said. - The Star Online

Wednesday, May 8, 2013

Malaysia-Market factors to watch on May 8.


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 Malaysian market Wednesday. GLOBAL MARKETS-Stocks climb higher as investors chase performance

SE Asia Stocks-Malaysia up on post election rally; Thai SET index hits 1,600

WHAT IS HAPPENING IN MALAYSIA, IN TIMES LOCAL FOLLOWED BY GMT:

* Fraser & Neave Holdings Bhd press conference on first half financial results, Level 1, Training Room, No 3, Jalan Metro Pudu 1, Fraser Business Park, Off Jalan Yew, Kuala Lumpur at 10 am (0200 GMT).

* Matrix Concepts Holdings Bhd press conference in conjunction with IPO prospectus launch, Starhill 2, Level 4, JW Marriot Kuala Lumpur, Jalan Bukit Bintang, Kuala Lumpur 10.30 am (0230 GMT).

* Press conference by European Union Delegation to Malaysia on EU-Malaysia relations, Hall 11, Golden Screen Cinema, Pavilion, Kuala Lumpur at 4 pm (0800 GMT).

MARKET NEWS

> Nikkei climbs to new five-year highs on U.S. stocks, German data

> Dow ends above 15,000 for first time, S&P closes at record

> Prices dip, but range bound in new debt supply

> Markets calm, kiwi stung by RBNZ comment

> Gold down over 1 pct as ETF outflows continue

> Oil down after rally on German data, Mideast tensions

> Palm oil ends higher; firm ringgit caps gains MALAYSIA IN THE NEWS:

> Malaysia-based Titan pays discount for June naphtha

> PREVIEW-Malaysia c.bank likely to hold steady on interest rates - Reuters

VEGOILS-Market factors to watch May 8(Wednesday)

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday.

FUNDAMENTALS

* Malaysian palm oil futures ended higher on Tuesday, fuelled by bargain-hunting from the previous day's nearly five-month low, although gains were capped by a firm ringgit and key industry data due at the end of the week.

* Chicago Board of Trade corn futures turned higher on Tuesday in a recovery bounce after their biggest plunge in five weeks on Monday as U.S. farmers struggle to plant corn in muddy fields.

* Brent crude oil fell more than $1 on Tuesday as worries about market fundamentals curbed an early rise that had brought the price close to $106 a barrel on strong German data and concern about tension in the Middle East. MARKET NEWS

* Major stock indexes in Germany and the United States hit all-time highs on Tuesday after data bolstered expectations that Germany has returned to growth, while Australia reminded markets that accommodative policies from central banks have room to run.

* Oil fell on Tuesday after initially rallying on optimism about a recovery in Europe and worry over growing Middle East tensions, while copper consolidated from a 3-week high as commodity investors turned cautious ahead of trade data from China. RELATED NEWS

> Emerging market growth expectations hit seven-month low -HSBC > Exxon to develop Julia field in Gulf of Mexico

> Brazil's Petrobras says makes offshore oil find near Iara area DATA/EVENTS

> Industry regulator the Malaysian Palm Oil Board to release the country's palm output, stocks, exports and imports for April on Friday. - Reuters

Popular Posts

Related Posts Plugin for WordPress, Blogger...