Berjaya Sports Toto (BToto), which announced yesterday net profit of RM97.11 million for the third quarter ended Jan 31, is among the stocks to watch on March 17.
Other counters are Malaysian Airline System (MAS), KNM Group, Sime Darby, Telekom Malaysia, TM International, and banking stocks which have been under intense investors’ focus – Malayan Banking and Public Bank.
BToto declared dividend of five sen. This was a 2.85 sen single-tier exempt dividend and a 2.15 sen dividend per share tax for FY ending April 30. The dividend will be paid on May 15 and the entitlement date has been fixed on April 28.
The company said it remained committed to distribute at least 75% of its annual net earnings to shareholders as stated in its dividend policy established since FY05. Its share rose eight sen to RM4.68.
MAS was on AmResearch’s sell recommendation at RM2.39, with a fair value of RM2.20. The basis of the sell call was due to a very tough operational outlook ahead and material risks the national carrier could be in the red over the next 12 months.
MAS could be affected by weakened control on topline variables, that is, yields and load factor and stuck with expensive fuel hedges, according to the research house. MAS closed two sen higher to RM2.41 yesterday.
Meanwhile, IOI Corp stated it had no intention to revise the offer price for IOI Properties, which was RM2.598. It also did not plan to maintain IOI Properties listing status.
IOI Corp bought back 3.387 million of its own shares on March 16 for RM12.7 million.
TMI had yesterday applied to the Securities Commission to seek its approval in relation for the proposed rights issue.
Telekom Malaysia plans to start talks in May to sell capacity on its multi-billion ringgit high-speed broadband (HSBB) network at “competitive” prices.
Prices for TM's wholesale services would only be available in April to industry players as a guide for further one-on-one negotiations that could start from May.
Maybank’s share fell to near 10-year low, below RM4, on concerns about further impairments and its rights issue.
Sime Darby Property’s Parade of Homes saw RM86 million of property sales within its first four days, with the company quick to add that Malaysian property market appears to be resilient regardless of the current economic situation.
KNM Group MD Lee Swee Eng will consider leading a management buyout of the company as long as banks can raise the funds. Investment bankers have approached Lee, who owns 25% of KNM, and suggested he buy the remaining shares. However, none of the banks had made a proposal that includes financing.
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