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KUALA LUMPUR (Feb 10): Stocks on Bursa Malaysia could extend their gains for the third day on Friday as investors could be emboldened after Greek leaders clinched a long-stalled deal on reforms and austerity measures needed to secure a bailout and avoid a messy default.
Reuters reported the deal was struck hours before the country's financial backers were to meet in Brussels on Thursday.
Athens' partners in the European Union and the International Monetary Fund have been exasperated by a lack of agreement on the sacrifices they demanded in return for a 130 billion euro ($172 billion) bailout, with time running out for Greece before a major March 20 bond redemption, said Reuters.
At Bursa Malaysia, MMC CORPORATION BHD  and GAMUDA BHD  would be among the stocks to watch as the joint venture will be appointed project delivery partner for the KL MRT project. MRT Corporation will be signing the agreement with MMC-Gamuda Joint Venture Sdn Bhd for the project on Friday afternoon.
Also in focus would be Bursa Malaysia and Hong Leong Industries following the release of their results.
Other counters which could see trading interest again are Selangor-related companies -- KUMPULAN PERANGSANG SELANGOR , KUMPULAN HARTANAH SELANGOR BHD , PUNCAK NIAGA HOLDINGS BHD  and water pipe manufacturer JAKS Resources Bhd.
Bursa Malaysia’ earnings rose 29% to RM146.16 million for FY ended Dec 31, 2011 from RM113.04 million in 2010 and expects market volatility is expected to persist in 2012 unless there is more clarity on how the global economy will pan out. Its revenue increased 16.3% to RM420.14 million from RM361.05 million. It proposed a final dividend of 13 sen per share for the year under review, which was a distribution of 95% of its net profit.
For the fourth quarter, its earnings rose 5.2% to RM31.33 million from RM29.78 million. Revenue slipped 6.1% to RM95.67 million from RM101.91 million. Earnings per share were 5.90 sen compared with 5.60 sen.
Hong Leong Industries reported net profit of RM35.47 million for the second quarter ended Dec 31, 2011, down 39.6% from RM58.81 million a year ago.
Its revenue increased 14.5% to RM488.63 million from RM426.49 million a year ago. Its earnings per share were 11.51 sen compared with 22.48 sen.
HL Industries said that MALAYSIAN PACIFIC INDUSTRIES  Bhd ceased to be a subsidiary of the group at the end of the previous financial year ended June 30, 2011.
BERJAYA LAND BHD  (B-Land) recorded a net loss of about RM8.05 million at group level after it disposed of 18.301 million BERJAYA SPORTS TOTO BHD  shares for RM79.61 million.
B-Land said the shares were disposed of on Thursday at an average selling price of RM4.35 and the shares represented about 1.37% of BToto.
“The disposed shares which were purchased since 1992, have a total carrying value of about RM87.66 million in the books of B-Land group. The net proceeds from the disposals will be utilised as working capital and repayment of bank borrowings of the B-Land group,” it said.
Bursa Malaysia Securities Bhd has advised investors to be cautious following the recent sharp rise in the price and volume of Naim Indah Corporation shares.
Naim Indah shares closed 18 sen higher at 67 sen with 342.12 million shares done, off the day’s high of 75 sen. It fell to an intra-day low of 59.5 sen.