| Business & Markets 2012 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Thursday, 05 April 2012 18:55 |
Analysts said weaker technical indicators for equities, and fresh concerns on a protracted European sovereign debt crisis could result in more volatility for the FBM KLCI ahead of Malaysia's general election. The FBM KLCI fell 5.83 points to finish at 1,593.44 points on Thursday. Stocks to watch on Friday include JAYA TIASA HOLDINGS BHD [], TA ANN HOLDINGS BHD [], GOPENG BHD [], FAVELLE FAVCO BHD [], and XIAN LENG HOLDINGS BHD []. Jaya Tiasa, a PLANTATION [] and timber entity, rose as much as 2.7% or 24 sen to RM9, ahead of the ex-date for its treasury shares on Friday. Ta Ann climbed as much 3% or 18 sen to RM6.38, after Maybank Investment Bank Bhd initiated coverage on the timber player with a buy call and fair value of RM8. Gopeng, a builder, plans to reward shareholders with a final dividend of 9.8 sen, less 25% tax. Crane builder Favelle Favco has secured five contracts with a combined value of about RM102.1 million. The special audit on Xian Leng revealed financial irregularities in its fish farm development capital expenditure amounting to RM90.7 million, of which a total of RM85.7 million was disbursed under "questionable circumstances". Trading of Xian Leng shares, which has been suspended, will resume on Friday. |
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