» » Stocks to watch: F&N, Bumi Armada Bhd, PerMaju Industries Bhd and MSM Holdings Bhd.

Stocks to watch: F&N, Bumi Armada Bhd, PerMaju Industries Bhd and MSM Holdings Bhd.



Business & Markets 2012
Written by surin murugiah of theedgemlaysia.com   
Monday, 07 May 2012 20:47
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KUALA LUMPUR (May 7): The FBM KLCI may extend its losses on Tuesday, in line with the tepid investor sentiment at most global markets, after most Asian and European equities were mired in th red following several electoral results in the troubled euro zone area.
Greek and French election results rattled investors on Monday by undermining confidence in the region's plans to cut spending and tackle its debt crisis, sending the euro to a three-month low, according to Reuters.
European shares also initially traded lower, with Greek stocks down 6.4 percent, but reaction was muted with the UK market closed for a holiday. Wall Street stocks were expected to reflect the weaker tone when they were being trading, it said.
Among the stocks that could be in focus on Bursa Malaysia on Tuesday are  Fraser&Neave Holdings Bhd (F&N), Bumi Armada Bhd, PERMAJU INDUSTRIES BHD [] and MSM Holdings Bhd.
F&N declared an interim single tier dividend of 20 sen per share for the financial year ending Sept 30, 2012 amounting to RM73 million to be paid on August 1.
Its net profit fell 18.93% to RM107.01 million in its second quarter ended Mar 31,2012 from RM131.99 million a year earlier as a result of the cessation of its Coca-Cola business and flood disruptions in Thailand.
Bumi Armada Bhd’s unit has secured a five-year contract worth US$65 million (RM198.9 million) to provide an accommodation workboat.
The company said on Monday that its subsidiary, Bumi Armada Navigation Sdn Bhd ("BAN") had been awarded the contract by Tecnologías Relacionadas con Energía y Servicios Especializados, S.A. de C.V. (TRESE).
“The Vessel will be providing accommodation and offshore support services in the Mexican territorial waters.
Meanwhile, Bursa Malaysia Securities Bhd issued an unusual market activity (UMA) query to Permaju Industries Bhd over the sharp rise in the price and high volume in the company’s shares recently.
MSM Malaysia Holdings Bhd profits rose 7.05% in its first quarter ended Mar 31, 2012 to RM66.39 million from RM62.02 million a year ago, due to higher sales volume and average selling prices.
It said on Monday that its revenue for the quarter increased 5.68% to RM531.76 million from RM503.17 million a year earlier.
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