Stockwatch


  • Tenaga: KEY blue chip stock Tenaga Nasional Bhd (TNB) fell 7.2% last week, which contributed to the Kuala Lumpur Composite Index's 4.6% drop during the same period, as weak sentiment ahead of the long weekend and near-term uncertainties dominated trading activities. The power utility company posted its second-quarter results last Tuesday, which provided pundits with fresh figures to tweak their year-end expectations. At least three local research outfits put TNB share's fair value at around RM11.70, and at last Friday's closing price of RM9.65, there is a 21% upside potential from the current price level. Stock Watch On TENAGA 

  • Ramatex: THIS textile manufacturer burst into action last week to finish Friday among the week's biggest winners. Dealers said trading interest in this normally subdued company had been building up all week as the counter rose to its highest level last seen in the third quarter of 2000. They said that with the broader market now in consolidation mode, laggards like Ramatex was attracting some buying interest. The group posted strong FY03 results on revenue of RM950mil and a pre-tax profit of RM90mil, versus a turnover of RM660mil and pre-tax profit of RM71mil a year earlier. Stock Watch On RAMATEX 

  • A Supreme: ELECTRONIC component manufacturer Austral Supreme's share price saw volatile trade during the two-week period, hitting a 12-month low of RM1.42 last Monday, before rebounding sharply the next day. Dealers said the stock movement was erratic due to speculative interest and the lack of liquidity. For the year ended Dec 31, 2003, the company's revenue decreased to RM16.17mil, while net losses widened to RM7.8mil. The company had bought 5 million KBES Bhd shares for RM3.75mil at its offer price of 75 sen each late last year. The company said it was part of its strategy to better utilise its RM30mil cash pile. 

  • Inch Kenneth: SMALL-CAP counters like Inch Kenneth continued to be the target of rumours about a potential big bonus issue exercise involving such stocks ahead of the June 30 deadline for main board companies to meet the minimum capital requirement of RM60mil. As of last Friday, the group's paid-up capital stood at a mere RM8.25mil. Inch Kenneth said it would embark on a plan to expand the group’s operations and would look at various options to meet the minimum requirement. The group has a net cash of RM50.8mil as at the end of 2003 with no borrowings. Stock Watch On INCKEN 

  • Ta Snterprise: WITH the closing price of 78.5 sen last Friday, the stock hit a seven-month low on sustained profit-taking activities. Dealers said the lacklustre trading volume on Bursa Malaysia since then had affected sentiment on retail-based stockbroking firms like TA Enterprise. They said that as trading volume dropped, the perception was that it would have a negative impact on the stockbroker’s revenue and profits. Meanwhile, in the past two weeks the stock came under renewed selling pressure on news that the RM400mil deal with CIMB had been scrapped. Stock Watch On TA

  • Article type: metered
    User Type: anonymous web
    User Status:
    Campaign ID: -1
    Cxense type: NA
    User access status: 3
    Join our Telegram channel to get our Evening Alerts and breaking news highlights
       

    Next In Business News

    China says it will take necessary measures to safeguard Chinese firms' interests
    Astro signs Netflix as new streaming partner
    Boustead's three-pronged strategy to reinvent itself
    Oil gains as draw in U.S. crude stocks reinforces outlook for robust demand
    Singapore files 105 new charges against oil trader Hin Leong founder O.K. Lim
    Asian shares tread water, markets eye U.S. inflation signals
    Benigno Aquino steered Philipines' economy to recovery, says ex-secretary of finance
    OMH to increase funding in Bryah Basin manganese JV
    DNeX inks MoU with UiTM to develop digital solutions
    KPMG resigns as Serba Dinamik external auditor

    Stories You'll Enjoy


    Vouchers