Written by Joseph Chin
Saturday, 27 June 2009 17:13
KUALA LUMPUR: The performance of the Malaysian stock market for the week ahead, from June 29, is expected to hinge on domestic factors as the lacklustre close on Wall Street unlikely to provide external leads.
Stocks to watch include KPS and related water companies in Singapore, Gamuda, Leader and Goh Ban Huat.
The Invest Malaysia 2009 conference, from June 30 to July 1, is expected to attract positive interest from local and foreign institutions, according to the organiser Bursa Malaysia.
Prime Minister Datuk Seri Najib Razak will deliver the keynote address with his speech focusing on this year’s theme, Malaysia’s Growth Drivers”.
For the first time, the Chief Ministers of Johor, Penang and Sabah will showcase the attractiveness of their respective states as key investment destinations.
Plenary sessions include a special address by Khazanah Nasional Bhd managing director Tan Sri Azman Mokhtar. Other sessions entitled “Malaysia: Vision, Execution & Consistency”, “Islamic Finance: Driver of Growth” and “Malaysia’s Growth Centres: Johor, Penang and Sabah” will feature stimulating discourse between renowned industry captains and market players, overseen by a panel of expert moderators.
At Wall Street, the Dow Jones industrial average dropped 34.01 points, or 0.40%, to 8,438.39. The Standard & Poor's 500 Index shed 1.36 points, or 0.15%, to 918.90. But the Nasdaq Composite Index advanced 8.68 points, or 0.47%, to 1,838.22.
Meanwhile, Macquarie Research Equities advised investors take profit on stocks which had rallied the most on Bursa Malaysia.
However, its top picks are Genting, Tenaga and Astro all of which have good structural growth stories while Gamuda is its top pick for government spending. Its top yield play in Berjaya Sports Toto which also has decent growth.
Recent corporate developments are the Selangor government’s move to revise upwards its offer to water concessionaires to acquire their assets and operations as the Federal Government’s deadline to complete the restructuring of the industry by June 30.
On June 26, Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) said it had received an offer of RM2.975 billion from the Selangor government. Of the amount, RM1.579 billion is for equities and the other RM1.396 billion for the liabilities. Gamuda owns 40% of SPLASH while KPS owns 30%.
As for Leader Universal Holdings, its joint venture Cambodia International Investment Development Group Co., Ltd was granted the rights by the Cambodian authorities to plan and negotiate for the development of the 700MW coal-fired power generation facility in Sihanoukville, Cambodia.
“The parties shall carry out the preliminary planning and feasibility studies for the said project. The formal award of the said project is subject to further negotiations and agreement with the relevant authorities,” said Leader.
In GBH, the counter is expected to attract heavy trading interest after its single largest shareholder proposed a conditional takeover at RM1.25 per share.
As for Hai-O Enterprise, there were some disappointing news after its net profit for the fourth quarter ended April 30 fell 29% to RM14.7 million due to the weaker ringgit and stronger US dollar.
Saturday, 27 June 2009 17:13
KUALA LUMPUR: The performance of the Malaysian stock market for the week ahead, from June 29, is expected to hinge on domestic factors as the lacklustre close on Wall Street unlikely to provide external leads.
Stocks to watch include KPS and related water companies in Singapore, Gamuda, Leader and Goh Ban Huat.
The Invest Malaysia 2009 conference, from June 30 to July 1, is expected to attract positive interest from local and foreign institutions, according to the organiser Bursa Malaysia.
Prime Minister Datuk Seri Najib Razak will deliver the keynote address with his speech focusing on this year’s theme, Malaysia’s Growth Drivers”.
For the first time, the Chief Ministers of Johor, Penang and Sabah will showcase the attractiveness of their respective states as key investment destinations.
Plenary sessions include a special address by Khazanah Nasional Bhd managing director Tan Sri Azman Mokhtar. Other sessions entitled “Malaysia: Vision, Execution & Consistency”, “Islamic Finance: Driver of Growth” and “Malaysia’s Growth Centres: Johor, Penang and Sabah” will feature stimulating discourse between renowned industry captains and market players, overseen by a panel of expert moderators.
At Wall Street, the Dow Jones industrial average dropped 34.01 points, or 0.40%, to 8,438.39. The Standard & Poor's 500 Index shed 1.36 points, or 0.15%, to 918.90. But the Nasdaq Composite Index advanced 8.68 points, or 0.47%, to 1,838.22.
Meanwhile, Macquarie Research Equities advised investors take profit on stocks which had rallied the most on Bursa Malaysia.
However, its top picks are Genting, Tenaga and Astro all of which have good structural growth stories while Gamuda is its top pick for government spending. Its top yield play in Berjaya Sports Toto which also has decent growth.
Recent corporate developments are the Selangor government’s move to revise upwards its offer to water concessionaires to acquire their assets and operations as the Federal Government’s deadline to complete the restructuring of the industry by June 30.
On June 26, Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) said it had received an offer of RM2.975 billion from the Selangor government. Of the amount, RM1.579 billion is for equities and the other RM1.396 billion for the liabilities. Gamuda owns 40% of SPLASH while KPS owns 30%.
As for Leader Universal Holdings, its joint venture Cambodia International Investment Development Group Co., Ltd was granted the rights by the Cambodian authorities to plan and negotiate for the development of the 700MW coal-fired power generation facility in Sihanoukville, Cambodia.
“The parties shall carry out the preliminary planning and feasibility studies for the said project. The formal award of the said project is subject to further negotiations and agreement with the relevant authorities,” said Leader.
In GBH, the counter is expected to attract heavy trading interest after its single largest shareholder proposed a conditional takeover at RM1.25 per share.
As for Hai-O Enterprise, there were some disappointing news after its net profit for the fourth quarter ended April 30 fell 29% to RM14.7 million due to the weaker ringgit and stronger US dollar.