If Btoto Rally, and I think Bjtoto-CF is the better proxy to btoto share.
BJTOTO-CF
Maturity:28/02/2011
Lauch Price:MYR 0.150
Conversion: MYR 4.00
Ratio: 3.0 : 1.0
CIMB Bank
BJTOTO-CF Current price: 0.13 , 0.13* 3 + 4.00 = 4.39
BJTOTO-CF
Maturity:28/02/2011
Lauch Price:MYR 0.150
Conversion: MYR 4.00
Ratio: 3.0 : 1.0
CIMB Bank
BJTOTO-CF Current price: 0.13 , 0.13* 3 + 4.00 = 4.39
Written by Joseph Chin
Friday, 12 March 2010 07:50
KUALA LUMPUR: Stocks on Bursa Malaysia, which came under profit taking on Thursday, March 11, could resume their upward trend on Friday, as investors are encouraged by the firmer overnight close on Wall Street.
Japan's Nikkei average rose 1.1 percent to hit a seven-week high at the open on Friday, boosted by exporters such as Honda Motor after Wall Street rallied on the possibility new banking regulations being studied by U.S. Congress could be watered down.
The benchmark Nikkei gained 112.54 points to 10,777.49, its highest since Jan. 21. The broader Topix added 0.6 percent to 935.95.
Global stocks rebounded and oil edged higher on Thursday on renewed optimism over the U.S. economy, overcoming a scare that interest rates may be heading higher because of an inflation spike in China.
The Dow Jones industrial average closed up 44.51 points, or 0.42 percent, at 10,611.84. The Standard & Poor's 500 Index climbed 4.60 points, or 0.40 percent, at 1,150.21. The Nasdaq Composite Index was up 9.51 points, or 0.40 percent, at 2,368.46.
At Bursa Malaysia, stocks to watch include Berjaya Sports Toto (BToto), Ireka Corp, Tan Chong Motors, EON Cap and Affin Holdings.
Ho Hup CONSTRUCTION [] could see some trading interest as the ongoing battle for control took another twist as the Companies Commission got involved in Ho Hup's tussle.
BToto’s unit Sports Toto Malaysia Sdn Bhd (Sports Toto) will launch another lotto game named Supreme Toto 6/58 and offers a guaranteed minimum upfront jackpot of RM8.88 million.
It will replace the Super Toto 6/49. The new game is based on RM2 per bet and will be launched on March 18. Ticket sale for the new lotto game will start on that day and the first draw on March 20.
InsiderAsia, in its analysis, says Ireka’s recent results for 3Q FY March 2010 were within its expectations. It expects to see stable earnings over the next two years, underpinned by a large RM496 million construction orderbook, especially relative to its small market capitalisation of RM89 million.
“At 78 sen, its shares are trading at undemanding P/Es of 7.9 and 7.5 times for FY10-11 and well below their latest book value of RM2.08 per share, with decent yields.
“The company has set a dividend payout policy of 30%, but traditionally distributed more than that, paying dividends during loss-making years. Under its new asset-light corporate structure, capex requirements are low with funding required only for construction work. Assuming a lower payout of three sen in FY10-11 vs five sen in FY09, the gross dividend yield is an attractive 3.8%,” it said in a research note.
TAN CHONG MOTOR HOLDINGS BHD []'s (TCM) unit will distribute Nissan brand completely built-up (CBU) vehicles in Cambodia. ETCM (C) Pty Ltd had entered into a distribution agreement with Nissan Motor Co, Ltd for the sole and exclusive right to distribute Nissan brand CBU vehicles in Cambodia.
News reports speculate Affin Holdings may launch a takeover of EON Cap Bhd, which owns EON Bank, the latest development in the takeover saga of EON Cap. EON Cap’s board had rejected Hong Long Bank’s takeover offer despite some resistance from some shareholders.
FABER GROUP BHD [] aims to expand its presence in India and the United Arab Emirates this year to grow its overseas business segment.
"These (India and Abu Dhabi) are the countries we are targeting to grow our hospital support services business. With the experience that we have, we should be able to secure more contracts," its managing director Adnan Mohammad said.
