Formis and Kencana are the two champ need to watch in order to play stock market game.
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KUALA LUMPUR: Sentiment on Bursa Malaysia could weaken on Thursday, Sept 22, after US
stocks suffered their worst drop in a month on Wednesday after the
Federal Reserve said there were "significant downside risks" to the economy even as it took another stab at boosting growth.
Reuters reported the Fed,
as expected, said it would buy more long-term Treasury securities in
an effort to lower borrowing rates. But investors worry that the Fed's
latest plan will have little effect on lending in an economy that
appears to be stagnating, which the Fed also noted.
The Dow Jones industrial average dropped
283.82 points, or 2.49 percent, to 11,124.84. The Standard & Poor's
500 Index lost 35.33 points, or 2.94 percent, to 1,166.76. The Nasdaq
Composite Index fell 52.05 points, or 2.01 percent, to 2,538.19.
Stocks to watch on Thursday are FORMIS RESOURCES BHD [], KENCANA PETROLEUM BHD [], SAPURACREST PETROLEUM BHD [], GLOMAC BHD [], BERJAYA SPORTS TOTO BHD [], AHMAD ZAKI RESOURCES BHD [] (AZRB) and TA ENTERPRISE BHD [].
Formis’s unit has secured a RM53.75 million contract from Fibrecomm
Network (M) Sdn Bhd for the next generation dense wavelength division
multiplexing systems.
Its unit, Formis Network Services Sdn Bhd would supply engineering
services, operation and maintenance of the NGDWDM systems, spares and
accessories for the third route from Padang Besar to Menara Ansar in
Johor Baru.
Kencana’s earnings rose 53% to RM63.72 million in the fourth quarter
ended July 31 from RM41.47 million a year ago due to higher progress
achieved for contracts. The 4Q revenue increased at a stronger pace of
77.5% to RM493.72 million from RM278.18 million.
For the financial year ended July 31, its net profit rose 63.8% to
RM223.11 million from RM136.16 million. Its revenue increased by 43.2%
to RM1.56 billion from RM1.09 billion.
SapuraCrest’s earnings rose 46.9% to RM78.23 million in the second
quarter ended July 31 from RM53.24 million a year. Revenue, however,
fell 22.1% to RM699.39 million from RM898.11 million.
For the first half, net profit rose 44.8% to RM150.57 million from
RM103.93 million but revenue declined 20.2% to RM1.25 billion from
RM1.568 billion.
Glomac Bhd posted net profit of RM17.87 million in the first quarter
ended July 31, 2011, which a 14.9% increase from the RM15.55 million a
year ago, putting the property company on a firm footing for its current
financial year.
Its revenue increased a marginal 1.2% to RM127.83 million from
RM126.31 million from a year ago due to its a mix of recent and on-going
project launches. Earnings per share were 6.10 sen compared with 5.32
sen.
Berjaya Toto’s earnings rose 44% to RM92.10 million in the first
quarter ended July 31, 2011 from RM63.95 million a year ago, due to a
lower prize payout.
Revenue was a marginal 1.2% increase to RM845.81 million from
RM835.39 million. Earnings per sharea were 6.89 sen compared with 4.78
sen. It declared an interim dividend of 8.0 sen.
AZRB has secured a 25-year concession to build and manage the
International Islamic University Malaysia (IIUM) teaching hospital in
Kuantan, Pahang via a private finance initiative. The total CONSTRUCTION
[] cost for teaching hospital was RM412.62 million
TA Enterprise’s earnings soared 151.3% to RM26.24 million in the
second quarter ended July 31, 2011 from RM10.43 million a year ago,
boosted by higher contribution from its property arm, TA Global Group.
Its revenue rose 8.6% to RM156.00 million from RM143.56 million.
Earnings per share were 1.53 sen compared with 0.61 sen.
Source: The Edge
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