Time dotCom, Measat to provide IPTV, broadband in Klang Valley, Ipoh

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MBNS shall be responsible for marketing the “Triple Play” which shall be branded as Astro B.yond IPTV and accompanied with “Powered by TIME 100% Fibre Optics” logo.

As for TTdC, it will manage the services on TIME’s 100% pure fibre optics network.

“The collaboration with MBNS will allow TTdC to acquire customers at a faster rate in the target areas, and leverage on the strengths of TIME's 100% Pure Fibre Optics network. Bundling Astro B.yond IPTV service with TIME Fibre Broadband allows both parties to deliver best of breed services to the end customer.

“As a result, TIME's wholesale business is further strengthened via working with an anchor collaborator such as MBNS,” it said.

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Ireka unit gets RM232.75m contract

KUALA LUMPUR: IREKA CORPORATION BHD [] unit Ireka Engineering & CONSTRUCTION [] Sdn Bhd (ICB) has secured a RM232.75 million contract for a proposed office and hotel development project.

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It said the contract was expected to contribute positively to its earnings for the financial year ended March 31, 2011 onwards.

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Kencana unit gets RM216m job from Petrofac

KUALA LUMPUR: KENCANA PETROLEUM BHD [] has secured a RM216 million contract from Petrofac Malaysia Ltd for the CONSTRUCTION [] of well head platforms for the Cendor oil field off the coast of Terengganu.

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Smartag to start Thailand project

KUALA LUMPUR: Smartag Solutions Bhd, en route to a listing on the ACE Market of Bursa Malaysia Securities Bhd on April 18, plans to implement its land checkpoint project in Thailand next month, its chief executive officer, Lim Peng Keong, said yesterday.

Read The Star

World Indices, Dow closed 12,197.88

SapuraCrest 4Q net profit surges 79% to RM72.67m, proposes 5.5c final dividend

Revenue rose 26% to RM609.95 million from RM484.48 million in 2010. Earnings per share was 5.69 sen, while net assets per share was 87 sen.

SapuraCrest proposed a single tier final dividend of 5.5 sen per share for the financial year ended Jan 31, 2011.

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RFID solutions-based Smartag to raise RM17.6m from IPO

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The company is targeting to list on the ACE Market of Bursa Malaysia. The applications for the shares close at 5pm on April 4 and its targeted listing date is April 18, 2011.

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Read The Edge

CIMB Research sees more upside for Mah Sing share price

“If our count is right, prices should inch past its 30-day SMA (now at RM2.49) very soon. Thereafter, it should move towards RM2.58 and RM2.70 next,” it said.

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Pos Malaysia recommends 17.5c dividends for FY2010

KUALA LUMPUR: POS MALAYSIA BHD [] is rewarding its shareholders with dividends totaling 17.5 sen for the financial year ended Dec 31, 2010.

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OSK Research: Worst over for rubber gloves sector

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“We are upgrading the sector to Overweight, with our top picks being Top Glove, Supermax and Kossan,” it said.

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Timber-related stocks advance at mid-morning

KUALA LUMPUR: Timber-related stocks advanced on Thursday, March 17 on expectations of an increase in demand for products following the earthquake in Japan last Friday.
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Meanwhile, MIDF Research in a note March 17 said local timber companies will be the main beneficiary when Japans starts to rebuild the earthquake disaster areas as Malaysia is their largest plywood exporter accounting for 48% of Japan’s total plywood..
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“We believe the main beneficiary will be WTK and Ta Ann since these companies exposure to the Japan market is about 80-90% of their plywood sales.

“Between them, WTK has greater leverage since it is a pure timber company compared to Ta Ann whose earnings mainly comes from CPO with its plywood division registering loss due to the usage of more costly eco-friendly raw material sourced from its Tasmanian operation.

Lingui is the other beneficiary as it has close to 50% exposure to Japan’s plywood sales, it said.

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CIMB keeps FBMKLCI target at 1,700

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As for the local stock market, CIMB Research said timber and rubber glove sectors would be the biggest winners.

In contrast, the aviation, gaming and power sector would be the worst hit.

"We maintain our end-2011 KLCI target of 1,700 points and view selling pressure from the convergence of negative developments as a buying opportunities," it added. - Bernama

Read more: CIMB keeps FBMKLCI target at 1,700

Maybank IB Research keeps Petronas Chemicals (5183.KU) at Buy TP RM8.00

0631 GMT [Dow Jones] STOCK CALL: Maybank IB Research keeps Petronas Chemicals (5183.KU) at Buy with an unchanged target of MYR8.00, based on 14.4X 2011 PER.

The house says the petrochemicals producer may deliver a record profit in 2011, driven by higher demand, strong product margins and an increasing price divergence between natural products and synthetic alternatives. "High oil prices are beneficial as Petronas Chemicals' products track oil price increases with a 91% correlation," says Maybank.

In addition, as Japan is a major petrochemical producer (estimated 7.5% of Asia's total supply), "we think the earthquake and tsunami impact will cause shortages of supply which may support higher product prices," it adds. Maybank forecasts 2011E recurring net profit at MYR4.43 billion vs MYR2.94 billion in 2010. The stock is flat at MYR6.59.

Tokyo Shares Rise 5.9% After Tuesday's Slide; Recover 9000 Mark

TOKYO (Dow Jones)--Tokyo stocks pushed 5.9% higher early Wednesday after suffering their biggest one-day fall Tuesday since the Lehman shock in 2008, helped by a gain in the futures market.

The Nikkei Stock Average was recently at 9124.36 points in fairly heavy trading volume, recovering the 9000 mark, though it was some way from recouping the large losses of earlier in the week which came in the aftermath of the country's devastating earthquake and tsunami. The Nikkei slumped 10.6% on Tuesday after a 6.2% slide Monday.
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"There appears to be buying back by hedge funds following yesterday's panic-selling," said Cosmo Securities equity strategist Toshikazu Horiuchi. "But unless the nuclear power plant issues are resolved, the reconstruction efforts will not be able to start and only then can we gauge the impact on earnings." He expected trade to be volatile, pegging the Nikkei's resistance level at 9500 points.

All eyes remained on the nuclear situation, with a new fire breaking out at Tokyo Electric Power Co.'s No. 4 reactor at the Fukushima Daiichi plant in quake-ravaged northeastern Japan.

Dow Jones Newswires
March 15, 2011 20:33 ET (00:33 GMT)

Japanese crisis hits world markets

Stocks follow Japan downwards after Nikkei's biggest drop since 1987 crash as tsunami and nuclear crisis hammer markets.

Read Japanese crisis hits world markets

Japan Stocks Crash

The Nikkei Stock Average /quotes/comstock/64e!i:ni225 (JP:NI225 8,605, -1,015, -10.55%)  is down over 13%. There are rumors of yen-selling by Japanese financial authorities. Ordinarily, these things would concern me.
See report on Japanese stocks drop.

OSK Maintains Buy Call On WCT TP 3.75

Read Bernama

DOW TUMBLES INTO SEA OF RED

NEW YORK (CNNMoney) -- U.S. stocks plunged into a deep sea of red on Thursday, as economic fears at home and political concerns in Saudi Arabia weighed heavily on investor sentiment.

Read DOW TUMBLES INTO SEA OF RED

AZRB gets RM145.38m East Coast highway job

KUALA LUMPUR: AHMAD ZAKI RESOURCES BHD []’s unit has secured a contract worth RM145.38 million to complete the remaining works of the Phase 2 of the East Coast highway project in Terengganu.
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AZRB said the works are to be completed on Aug 26, 2012. It said the contract was expected to contribute positively to its earnings for the financial years ending 2011 to 2012.

Read The Edge

AMMB - Its a big ship and a manually-steered ship!

09.03.11

Malaysia says open to ANZ bank doubling AMMB stake

MELBOURNE, March 4 (Reuters) - Malaysia is open to Australia & New Zealand Banking Group doubling its stake in Malaysian lender AMMB Holdings to 49 percent in a move that could encourage more foreign investment, Malaysia's prime minister said on Friday.

Read Malaysia says open to ANZ bank doubling AMMB stake

KNM Group said secured RM693m new orders in 2011

KUALA LUMPUR: KNM GROUP BHD [] said it has year-to-date secured new orders amounting to RM693 million, underpinned by the bullish sentiment in the global oil and gas industry globally as crude oil surges to record highs.

“The current order book of KNM stood at RM6.4 billion and the backlog at RM5.4 billion,” said the company, which described it as an all time for the group since it was set up,” it said on Thursday, March 3.

KNM said its tender book was RM17 billion, which it said had significantly improved compared with the trough of the sub-prime crisis which was at RM10 billion.

Executive chairman and CEO Lee Swee Eng said the group’s strong order book would keep it busy for 2011 and 2012.

Lee said the current strong order win reflected a rebound of order intake and its strong TECHNOLOGY [] product line, adding that he expected demand for process equipment to be strong as new projects come on stream in Malaysia and overseas.

Read KNM Group said secured RM693m new orders in 2011 in The Edge 

KNM sees debt falling

CEO says recovering unit Borsig helping to bring down debt level.
Read KNM sees debt falling

WCT a buy with a target price of RM4.15 - HwangDBS Vickers Research Sdn Bhd

WCT expects to win RM2b building jobs