0.87 glomac closing
0.30 glomac wa closing
KUALA LUMPUR (March 23) : The resilience of Malaysian stocks will be keenly watched on Friday as investors weigh the impact of weaker global macro updates against the effects of pre-election sentiment in the country.
Analysts believe April will be crucial in anticipation of announcements on potential winners of big-ticket domestic public projects ahead of Malaysia’s coming genera l election.
The anticipation could have spurred the FBM KLCI to close higher on Thursday despite a still-weak global sentiment emanating from the US, Europe and China.
The FBM KLCI which sank into the red earlier, had rebounded to close at 1,583.24, up 0.71 point on Thursday.
Stocks to watch on Friday include Ingenuity Solutions Bhd, Glomac Bhd, Jaya Tiasa Holdings Bhd, S P Setia Bhd, Malaysia AE Models Holdings Bhd (Maemode) and Lipo Corporation Bhd.
Bursa Malaysia has queried computer software developer Ingenuity on the unusual trading patterns of the stock on Thursday.
Glomac reported a 33% rise in net profit to RM21.89 million in the third quarter ended Jan 31, 2012 from a year earlier despite revenue falling 18% to RM145.29 million. The property developer said lower cost of sales had mitigated the impact of lower revenue and higher operating expenses during the quarter.
Jaya Tiasa said its net profit rose 14% to RM45.52 million in the quarter ended Jan 31, 2012 from a year earlier as revenue fell marginally to RM237.56 million from RM237.64 million a year earlier. Lower tax expenses had offset lower revenue and higher operating costs during the quarter, according to the timber and oil palm plantation entity
S P Setia reported a 19% rise in net profit to RM74 million in the first quarter to Jan 31, 2012 from a year earlier as revenue fell 5% to RM491.58 million. The property developer said it had sold RM933 million worth of properties during the quarter, up 27% from a year earlier.
Maemode has secured a RM61.93 million baggage handling system job at the new low cost carrier terminal. The contract was awarded by UEMC-Bina Puri J.V.
Kobay Technology Bhd is acquiring full control of its 53.16% subsidiary Lipo via a selective capital reduction and repayment exercise.
Kobay requested Lipo to reduce the paid-up by cancelling one share for every RM1 paid by Lipo to shareholders as capital repayment.
“All entitled shareholders will receive a cash payment amounting to RM1.25 per Lipo share pursuant to the proposed SCR,” it said.