Get a free trial on EXPERT STOCK SCREENER!
POSTING LOSS STILL CAN LISTED IN KLSE< WHAT IS SC DOING TO ALLOW THIS XOX TO GET LISTED TODAY. LET'S SEE THE BLOOD BATH ON THE PRICE.
Written by Joseph Chin of theedgemalaysia.com
Thursday, 09 June 2011 20:16
KUALA LUMPUR: Stocks which could see trading interest on Friday, June 10 include XOX Group Bhd, which will make its debut on the ACE Market.
Other companies which could see trading interest are SP SETIA BHD [], FAVELLE FAVCO BHD [], Berjaya Food Bhd and MAA HOLDINGS BHD [].
Meanwhile, investors are expected to be cautious also because of the weaker than expected industrial data announced on Thursday. Malaysia’s industrial production index contracted 2.2% on-year in April, the first time in 17 months and CIMB Economics Research said this suggesting a soft patch going into 2Q.
“The contraction was a surprise as we expected an increase of 1.6% while consensus projected 2.5%. In January-April, factory output rose 1.5%,” it said.
CIMB Research said the soft patch in the manufacturing sector, which accounted for 27.6% of total GDP, would weigh on 2Q GDP growth, which it estimated to expand 4% to 4.5%.
“Even though the manufacturing sector has pulled back sharply from its rapid pace, domestic non-tradable sectors, namely the services and CONSTRUCTION [] sectors, should continue to keep the economy rolling along decently.
“Domestic demand should still call the shots, supported by the stepping up of private investment growth under the Economic Transformation Programme (ETP). As such, we maintain our GDP growth estimate of 5.5% for this year and 6.0% for 2012,” it said.
As for XOX, the mobile virtual network operator reported net loss of RM1.66 million in the quarter ended March 31 mainly due to the selling and distribution expenses which were necessary in creating brand awareness for XOX’s services.
It recorded revenue of RM12.68 million on the back of about 391,000 subscribers. It recorded an average revenue from sales of recharge of approximately RM30 per user per month.
The offer price of the shares is 80 sen. It received 6,652 applications for 106.5 million shares with a total value of RM85.2 million, for the public tranche of 7.5 million shares.
Meanwhile, SP Setia said it was confident that its 2011 sales target of RM3 billion would be met after the company recorded sales of RM1.66 billion in the first seven months of the year.
Net profit for the second quarter ended April 30, 2011 surged 80% to RM92.22 million from RM51.21 million a year earlier, due including to gain from the disposal of an investment property.
Revenue for the quarter rose to RM496.75 million from RM409.07 million a year earlier. Earnings per share were 5.55 sen while net assets per share was RM1.78. It declared a gross interim dividend of five sen per share.
Favelle Favco received four contracts to supply cranes and spare parts totaling more than RM70.3 million. Three of the orders were to supply cranes and the fourth was to supply the spare parts.
Berjaya Food’s net profit slipped 14.2% to RM2.505 million in the fourth quarter ended April 30, 2011 compared with RM2.92 million a year ago due to higher advertising and promotional expenses.
Revenue rose 9% to RM17.75 million from RM16.28 million. Earnings per share were 1.77 sen versus 2.07 sen a year ago. It proposed dividend of three sen a share.
For the financial year ended April 30, 2011, its net profit rose 22% to RM10.59 million from RM8.68 million while its revenue increased by 19% to RM71.94 million from RM60.41 million.
FOCUS DYNAMICS TECHNOLOGIES [] Bhd’s new 144.58 million shares issued under the rights issue with warrants and 96.39 million warrants will be listed and quoted on Friday.
Subscribe to:
Post Comments (Atom)