Stocks which could be in focus on Wednesday, June 22 include MAA HOLDINGS BHD [] and Muhibbah Engineering Bhd whose share prices have fallen over the past week following “negative” corporate developments.
MAA share price fell sharply on Tuesday, down 30.5 sen to 72.5 sen with 78.22 million shares as investors expressed their unhappiness over the “cheap” price which it sold the insurance unit for.
Also in the news was Muhibbah Engineering Bhd, which declined 11 sen to RM1.42 with 19.83 million shares done as investors worried about the impact of its exposure to the Asian Petroleum Hub which was reported to be in receivership.
Is there buying opportunity in these stocks or is the selling over yet? The trading volume has to decline and the selldown to abate before there can be any buying support to come in. Perhaps, more details should be provided by the companies.
Scientex Bhd’s earnings rose 21.2% to RM20.38 million in the third quarter ended April 30, 2011,underpinned by its property development and also announced a dividend policy to pay a minimum of 30% of earnings as dividends.
It said revenue climbed 21.1% to RM217.31 million from RM179.50 million while earnings per share were 9.48 sen compared with 7.81 sen.
For the nine-months period ended April 30, its earnings rose 32.9% to RM56.47 million from RM42.49 million while revenue increased by 19% to RM598.82 million from RM503.13 million.
Daibochi Plastic and Packaging Industry Bhd is eyeing Australia and Association of South-East Asian Nations for expansion to increase revenue in the face of a steep increase in the prices of raw materials, Bernama reported.
Managing director, Thomas Lim Soo Kim, said the company expected its revenue to increase by 30% per cent in two years as the packaging market in Australia was 10 times bigger than Malaysia's.
MALAYSIAN AIRLINE SYSTEM BHD [] has exercised an option to purchase 10 additional Next-Generation 737-800s. The new plans are valued at more than US$800 million. The additional planes were part of an option under the original deal signed with Boeing in 2008.
Bursa Malaysia Securities Bhd has deferred the proposed suspension of Ho Hup CONSTRUCTION [] Co. Bhd’s shares and also the commencement of delisting procedures. It had received a letter from the regulator the trading suspension and delisting had been deferred pending its decision on its application for more time to regularise its financial condition.
The delisting of ECOFUTURE BHD. [] scheduled for June 27, has been deferred after the company submitted an appeal to Bursa Malaysia Securities Bhd. It said it had submitted the appeal against the commencement of the delisting procedures. It had initially faced suspension on June 23 and delisting by June 27.
MAA share price fell sharply on Tuesday, down 30.5 sen to 72.5 sen with 78.22 million shares as investors expressed their unhappiness over the “cheap” price which it sold the insurance unit for.
Also in the news was Muhibbah Engineering Bhd, which declined 11 sen to RM1.42 with 19.83 million shares done as investors worried about the impact of its exposure to the Asian Petroleum Hub which was reported to be in receivership.
Is there buying opportunity in these stocks or is the selling over yet? The trading volume has to decline and the selldown to abate before there can be any buying support to come in. Perhaps, more details should be provided by the companies.
Scientex Bhd’s earnings rose 21.2% to RM20.38 million in the third quarter ended April 30, 2011,underpinned by its property development and also announced a dividend policy to pay a minimum of 30% of earnings as dividends.
It said revenue climbed 21.1% to RM217.31 million from RM179.50 million while earnings per share were 9.48 sen compared with 7.81 sen.
For the nine-months period ended April 30, its earnings rose 32.9% to RM56.47 million from RM42.49 million while revenue increased by 19% to RM598.82 million from RM503.13 million.
Daibochi Plastic and Packaging Industry Bhd is eyeing Australia and Association of South-East Asian Nations for expansion to increase revenue in the face of a steep increase in the prices of raw materials, Bernama reported.
Managing director, Thomas Lim Soo Kim, said the company expected its revenue to increase by 30% per cent in two years as the packaging market in Australia was 10 times bigger than Malaysia's.
MALAYSIAN AIRLINE SYSTEM BHD [] has exercised an option to purchase 10 additional Next-Generation 737-800s. The new plans are valued at more than US$800 million. The additional planes were part of an option under the original deal signed with Boeing in 2008.
Bursa Malaysia Securities Bhd has deferred the proposed suspension of Ho Hup CONSTRUCTION [] Co. Bhd’s shares and also the commencement of delisting procedures. It had received a letter from the regulator the trading suspension and delisting had been deferred pending its decision on its application for more time to regularise its financial condition.
The delisting of ECOFUTURE BHD. [] scheduled for June 27, has been deferred after the company submitted an appeal to Bursa Malaysia Securities Bhd. It said it had submitted the appeal against the commencement of the delisting procedures. It had initially faced suspension on June 23 and delisting by June 27.
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