Stockwatch


MK Land: SHARES in MK Land drifted lower over the past two weeks on thin volume, with investors wary about property counters' earnings prospects. Analysts said MK Land's current year earnings ended June 30 was likely to be much lower than what it was a year ago, but a recovery could come next year on new high-end launches at flagship township Damansara Perdana. At 58 sen last Friday, the stock was traded at a deep discount to its revised net asset value of RM1.52. 

 

Titan Chemicals: TITAN Chemicals Corp Bhd's share price remained at near record low on uncertain earnings outlook, as rising feedstock prices was expected to continue to put pressure on margins. According to Bloomberg data, two analysts rated the stock a "buy", while three have "sell' recommendations. All five analysts issued fresh reports after Titan's results were released on Aug 8. Titan ended the week at RM1.17, or 18.2% lower from where it was at the start of the year. 

 

 

Naim Cendera: NAIM CENDERA Holdings Bhd is one of ECM Libra Avenue's top pick for exposure in the construction sector, with a target price of RM4. The stock closed at RM3 last Friday. The research house had trimmed down its earnings forecast for this year by 12% due to award delays on certain projects, but kept FY07 earnings unchanged at RM107mil. Naim Cendera is likely to benefit from new projects under the 9MP, especially in Sarawak, and should be able to grow its order book to around RM2bil next year.  

 

Landmarks: SHARES in Landmarks Bhd surged to multiple-year high last week after the company proposed to sell 29.5 million new shares, or 6% of its share capital, to reduce debts and fund working capital. Cash proceeds from the sale exercise were estimated at around RM45mil, assuming that the offer price is RM1.54. HLG Research, however, was less optimistic of the move, which it said had minimal impact on earnings but would dilute revised net asset value to RM1.80 from RM1.83. The firm downgraded the stock to a "hold". 

 

CBIP: CB INDUSTRIAL Products Holding Bhd share price hit a new high of RM3.08 last Friday on sharp improvement in profits – earnings per share was expected to grow around 30% this year and in 2007. The palm oil mill maker is also riding on bullish sentiment on plantation-related plays, with rising crude palm oil prices expected to boost investment for new machineries. The company derived 60% of its income from overseas. 

 

 MKLAND :  [Stock Watch]  [NewsTITAN :  [Stock Watch]  [NewsNAIM :  [Stock Watch]  [NewsLANDMRK :  [Stock Watch]  [NewsCBIP :  [Stock Watch]  [News]

For latest Bursa Malaysia indices, charts and other information click here

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

Next In Business News

PBOC promises to protect consumers as Evergrande teeters
MyNews losses widen due to strict Covid-19 measures�
Dolomite Corp classified as PN17, unable to pay debts
AirAsia X posts record RM24.6bil net loss in Apr-June quarter�
Straits Energy eyes 5G rollout projects with partner Seashore�
Crude oil at 3-year high, Brent nears US$80 a barrel amid supply constraints
Protasco registers RM6.4mil profit in Q2, boosted by road maintenance works
Muted market response to 12MP
Malaysia's DuitNow, Singapore's PayNow to link in 2022
Asian shares creep higher, oil surges to 3-year peak

Stories You'll Enjoy


Vouchers