You still meROKOK??? Come monday 1 packet of rokok up 30 cents or 40 cents.
Written by Joseph Chin
Saturday, 03 October 2009 20:57
KUALA LUMPUR: Investors will have to brace for a volatile session on Monday, Oct 5 following the weak closing on Wall Street as weak jobs data showed the US economic recovery would be less robust than expected.
Key regional markets are expected to be lacklustre after the Dow Jones industrial average fell 0.23 percent, to close at 9,487.67. The S&P 500 Index dropped 0.45% to 1,025.21. The Nasdaq Composite Index lost 0.46% to 2,048.11.
Stocks to watch on Monday include KUMPULAN JETSON BHD [], tobacco companies, SALCON BHD [], MALAYSIAN AIRLINE SYSTEM BHD [] (MAS) and Hock Lok Siew Corp.
The securities of Jetson fell on Friday after shareholders rejected the conditional takeover bid by S M Nasarudin and S M Faliq. The minority shareholders viewed their RM1 per share offer price for the remaining shares in the company as too low. Both are sons of Naza group founder, the late Tan Sri Nasimuddin SM Amin.
However, both brothers should be unfazed by the rejection, as the fall in the prices provide them an opportunity to pick up more shares from the open market. They are also already in control of the company and they have more plans in store for for Jetson.
Tobacco stocks should see some trading interest after the excise duty for tobacco was increased by one sen per stick or 5.6% to 19 sen per stick, which came into effect on Thursday.
AmResearch said it was surprised as to the timing of increase, particularly given that Budget 2010 proposals were set to be tabled on Oct 23.
"Though both tobacco manufacturers BAT and JTI have not raised selling prices at this juncture, we reckon a revised pricing structure could be implemented by end of next week. Based on previous excise duty hikes, there is a two to three day lag.
"While this development is negative, our concern lies in the quantum of hike in regards to a possible further increase in excise duty during Budget. We are keeping our estimates at this juncture, pending further details on manufacturers' reaction to the hike," said AmResearch.
Meanwhile, HEVEABOARD BHD [] has proposed a renounceable rights issue of up to 42.66 million new warrants and a restricted issue of up to 12.53 million new warrants to the holders of unexercised 2004/2009 warrants on Dec 31, 2009 on the basis of one new warrant for every three unexercised 2004/2009 Warrants held on the expiry Date.
The corporate exercise will only enable the company to raise up to RM426,667 but this would not incur interest cost, as compared to bank borrowings and to improve the gearing of the group.
HeveaBoard said the proposed rights issue would enable shareholders increase their equity participation in the company while the proposed restricted issue will allow the entitled warrants holders, whose existing warrants are currently out-of-the-money, with an opportunity to further participate in the equity of the company.
Malaysian Airline System Bhd (MAS) hopes to return to operating profit by 2010 depending on the carriers turnaround plan and global economic conditions, says its CEO, Tengku Datuk Azmil Zahruddin.
MAS will continue its cost reduction programme, which has managed to save RM2 billion in the last three years and targets saving another RM700 million for 2009, said Azmil.
Bursa Malaysia Securities Bhd queried Hock Lok Siew Corp Bhd (HLS Corp) over the high daily of shares traded recently. The shares closed four sen higher to 32 sen with 14.5 million shares done.
However, the loudspeaker manufacturer, replied that to the best of its knowledge,it was unaware of any factors that may have contributed to the unusual market activity. HLS Corp is also attracting interest as it invests RM2.6 million in quoted securities.
Saturday, 03 October 2009 20:57
KUALA LUMPUR: Investors will have to brace for a volatile session on Monday, Oct 5 following the weak closing on Wall Street as weak jobs data showed the US economic recovery would be less robust than expected.
Key regional markets are expected to be lacklustre after the Dow Jones industrial average fell 0.23 percent, to close at 9,487.67. The S&P 500 Index dropped 0.45% to 1,025.21. The Nasdaq Composite Index lost 0.46% to 2,048.11.
Stocks to watch on Monday include KUMPULAN JETSON BHD [], tobacco companies, SALCON BHD [], MALAYSIAN AIRLINE SYSTEM BHD [] (MAS) and Hock Lok Siew Corp.
The securities of Jetson fell on Friday after shareholders rejected the conditional takeover bid by S M Nasarudin and S M Faliq. The minority shareholders viewed their RM1 per share offer price for the remaining shares in the company as too low. Both are sons of Naza group founder, the late Tan Sri Nasimuddin SM Amin.
However, both brothers should be unfazed by the rejection, as the fall in the prices provide them an opportunity to pick up more shares from the open market. They are also already in control of the company and they have more plans in store for for Jetson.
Tobacco stocks should see some trading interest after the excise duty for tobacco was increased by one sen per stick or 5.6% to 19 sen per stick, which came into effect on Thursday.
AmResearch said it was surprised as to the timing of increase, particularly given that Budget 2010 proposals were set to be tabled on Oct 23.
"Though both tobacco manufacturers BAT and JTI have not raised selling prices at this juncture, we reckon a revised pricing structure could be implemented by end of next week. Based on previous excise duty hikes, there is a two to three day lag.
"While this development is negative, our concern lies in the quantum of hike in regards to a possible further increase in excise duty during Budget. We are keeping our estimates at this juncture, pending further details on manufacturers' reaction to the hike," said AmResearch.
Meanwhile, HEVEABOARD BHD [] has proposed a renounceable rights issue of up to 42.66 million new warrants and a restricted issue of up to 12.53 million new warrants to the holders of unexercised 2004/2009 warrants on Dec 31, 2009 on the basis of one new warrant for every three unexercised 2004/2009 Warrants held on the expiry Date.
The corporate exercise will only enable the company to raise up to RM426,667 but this would not incur interest cost, as compared to bank borrowings and to improve the gearing of the group.
HeveaBoard said the proposed rights issue would enable shareholders increase their equity participation in the company while the proposed restricted issue will allow the entitled warrants holders, whose existing warrants are currently out-of-the-money, with an opportunity to further participate in the equity of the company.
Malaysian Airline System Bhd (MAS) hopes to return to operating profit by 2010 depending on the carriers turnaround plan and global economic conditions, says its CEO, Tengku Datuk Azmil Zahruddin.
MAS will continue its cost reduction programme, which has managed to save RM2 billion in the last three years and targets saving another RM700 million for 2009, said Azmil.
Bursa Malaysia Securities Bhd queried Hock Lok Siew Corp Bhd (HLS Corp) over the high daily of shares traded recently. The shares closed four sen higher to 32 sen with 14.5 million shares done.
However, the loudspeaker manufacturer, replied that to the best of its knowledge,it was unaware of any factors that may have contributed to the unusual market activity. HLS Corp is also attracting interest as it invests RM2.6 million in quoted securities.