Companies which have been actively repurchasing their shares up till this month include DIALOG GROUP BHD [], IGB Corp Bhd, MULTI-PURPOSE HOLDINGS BHD [], QL RESOURCES BHD [] and YTL Corp Bhd.
Analysts said generally, a company would buy back its shares to boost the stock price if it perceived its securities as undervalued. Share buybacks could also be an indication of planned corporate exercises by a company.
TA Securities Holdings Bhd head of research Kaladher Govindan said any such move stemmed from management’s perception that their shares were undervalued. “Share buybacks are also intended to support their share prices,†he said.
Does buyback mean shares undervalued?
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Monday, October 19, 2009
Sunday, September 27, 2009
Stocks to watch: - GLCs, SelProp, Vastalux, NSTP
Selangor PROPERTIES Bhd posted net profit of RM33.3 million for 3Q ended July 31, up 182% from RM11.8 million a year ago, boosted by foreign exchange gains and higher profits from property development.
Revenue rose 36.5% to RM70.55 million from RM51.68 million. Earnings per share were 9.69 sen versus 3.44 sen.
In VASTALUX ENERGY BHD [], its executive vice chairman Mohamad Nor Abdul Rashid continued to reduce his stake in the company.
He sold 3.98 million shares in the open market at prices ranging from 41 sen to 46.8 sen from Sept 4 to 23. The recent disposals reduced his stake to 63.73 million shares.
As for NSTP and Utusan Malaysia, investors could be ready to lock in gains after several days of gain following an upgrade by Macquarie Research.
Macquarie Research upgraded NSTP to outperform and a target price of RM2.50, based on a 12 times price-to-earnings (PER) for 2010E. NSTP closed 13 sen higher at RM2.29 last Friday while Media Prima added four sen to RM1.54 and Utusan jumped 12.5 sen to RM1.04.
NSTP's three newspapers in its fold account for 35% of total circulation and 22% of total newspaper advertising spending (adex), it had said in the report.
Stocks to watch: - GLCs, SelProp, Vastalux, NSTP
Revenue rose 36.5% to RM70.55 million from RM51.68 million. Earnings per share were 9.69 sen versus 3.44 sen.
In VASTALUX ENERGY BHD [], its executive vice chairman Mohamad Nor Abdul Rashid continued to reduce his stake in the company.
He sold 3.98 million shares in the open market at prices ranging from 41 sen to 46.8 sen from Sept 4 to 23. The recent disposals reduced his stake to 63.73 million shares.
As for NSTP and Utusan Malaysia, investors could be ready to lock in gains after several days of gain following an upgrade by Macquarie Research.
Macquarie Research upgraded NSTP to outperform and a target price of RM2.50, based on a 12 times price-to-earnings (PER) for 2010E. NSTP closed 13 sen higher at RM2.29 last Friday while Media Prima added four sen to RM1.54 and Utusan jumped 12.5 sen to RM1.04.
NSTP's three newspapers in its fold account for 35% of total circulation and 22% of total newspaper advertising spending (adex), it had said in the report.
Stocks to watch: - GLCs, SelProp, Vastalux, NSTP
Thursday, September 24, 2009
Stocks to watch: - Jetson, NSTP, Maybank, OilCorp
Stocks to watch on Friday include Kumpulan Jetson, New Straits Times Press (NSTP), Maybank and OilCorp.
The non-interested directors of KUMPULAN JETSON BHD [] (KJB) have advised shareholders to reject the conditional takeover offer by Superior Pavillion Sdn Bhd (SPSB) and Odyssey Wealth Sdn Bhd (OWSB) for the group's securities.
For more read, The Edge FinancialDaily.
However, the question now for the shareholders is whether they should take profit, based on their entry level, or should they await for a possible higher offer. Perhaps, the challenge for SPSB and Odyssey Wealth Sdn Bhd is how will they create more value for the company.
Media-related stocks could continue to be in focus, after NSTP hit a 26-month high following Macquarie Research upgrading the stock to outperform.
The research house had also said that MEDIA PRIMA BHD [] would be a key beneficiary of rising advertising spending (adex), while NSTP was expected to benefit from the shift in readership from English to Malay newspapers as advertisers increasingly take advantage of this trend.
Moody's Investors Service has revised the outlooks to stable from negative on Maybank's Bank Financial Strength Rating (BFSR), A1 long-term global local currency deposit (GLC) rating, and A3 foreign currency Tier 1 capital securities.
Maybank's P-1 local and foreign currency short-term deposit ratings, A3 foreign currency long-term deposit rating, and A3 foreign currency subordinated debt rating remain unaffected with stable outlooks.
The outlook change on Maybank's BFSR reflects the replenished state of its capital level, its improved NPL provision coverage and its dominant local franchise.
Stocks to watch: - Jetson, NSTP, Maybank, OilCorp
The non-interested directors of KUMPULAN JETSON BHD [] (KJB) have advised shareholders to reject the conditional takeover offer by Superior Pavillion Sdn Bhd (SPSB) and Odyssey Wealth Sdn Bhd (OWSB) for the group's securities.
For more read, The Edge FinancialDaily.
However, the question now for the shareholders is whether they should take profit, based on their entry level, or should they await for a possible higher offer. Perhaps, the challenge for SPSB and Odyssey Wealth Sdn Bhd is how will they create more value for the company.
Media-related stocks could continue to be in focus, after NSTP hit a 26-month high following Macquarie Research upgrading the stock to outperform.
The research house had also said that MEDIA PRIMA BHD [] would be a key beneficiary of rising advertising spending (adex), while NSTP was expected to benefit from the shift in readership from English to Malay newspapers as advertisers increasingly take advantage of this trend.
Moody's Investors Service has revised the outlooks to stable from negative on Maybank's Bank Financial Strength Rating (BFSR), A1 long-term global local currency deposit (GLC) rating, and A3 foreign currency Tier 1 capital securities.
Maybank's P-1 local and foreign currency short-term deposit ratings, A3 foreign currency long-term deposit rating, and A3 foreign currency subordinated debt rating remain unaffected with stable outlooks.
The outlook change on Maybank's BFSR reflects the replenished state of its capital level, its improved NPL provision coverage and its dominant local franchise.
Stocks to watch: - Jetson, NSTP, Maybank, OilCorp
Thursday, September 17, 2009
Stocks to watch: - Bursa, SP Setia, IJM Corp, Aeon Credit
Bursa Malaysia resumes trading after a one-day suspension where it agreed to sell a 25% stake worth RM55.6 million in its derivatives subsidiary, Bursa Malaysia Derivatives Bhd to CME Group Inc.
CME, the world's largest derivatives exchange, would pay for the stake in BMD with RM1.9 million cash and 76,427 of its own shares, adding Bursa would make a “paper gain†RM44 million from its divestment of the stake.
SP Setia posted net profit of RM42.68 million for 3Q ended July 31, 2009, up 4.45% from the RM40.86 million a year ago mainly to the strong sales recorded from its 5/95 home and commercial ownership campaign.
Its wood-based manufacturing activities also contributed to the earnings achieved. SP Setia ended at 22 sen higher at RM4.60 yesterday.
Stocks to watch: - Bursa, SP Setia, IJM Corp, Aeon Credit
CME, the world's largest derivatives exchange, would pay for the stake in BMD with RM1.9 million cash and 76,427 of its own shares, adding Bursa would make a “paper gain†RM44 million from its divestment of the stake.
SP Setia posted net profit of RM42.68 million for 3Q ended July 31, 2009, up 4.45% from the RM40.86 million a year ago mainly to the strong sales recorded from its 5/95 home and commercial ownership campaign.
Its wood-based manufacturing activities also contributed to the earnings achieved. SP Setia ended at 22 sen higher at RM4.60 yesterday.
Stocks to watch: - Bursa, SP Setia, IJM Corp, Aeon Credit
Monday, September 14, 2009
Stocks to watch: - Construction stocks, GCorp, LCL, AirAsia
Syarikat Prasarana Negara Bhd's announcement that it is budgeting between RM6 and RM7 billion to extend the light rail transit (LRT) lines in operation should stir interest in construction companies.
Scomi Group and the YTL Group are reported to be eyeing part of the mechanical and electrical works. As for the civil works, they include UEM BUILDERS BHD [], IJM Corp Bhd, MALAYSIAN RESOURCES CORP [] Bhd, YTL and Loh & Loh Construction Bhd.
Stocks to watch: - Construction stocks, GCorp, LCL, AirAsia
Scomi Group and the YTL Group are reported to be eyeing part of the mechanical and electrical works. As for the civil works, they include UEM BUILDERS BHD [], IJM Corp Bhd, MALAYSIAN RESOURCES CORP [] Bhd, YTL and Loh & Loh Construction Bhd.
Stocks to watch: - Construction stocks, GCorp, LCL, AirAsia
DoCoMo to sell stake in Malaysian U Mobile
In 2008, DoCoMo and South Korea's KT Freetel Co each took a 16.5 percent stake in U Mobile, for a combined 33 percent interest.
U Mobile entered the Malaysian cell phone market in spring 2008, providing 3G services to customers with technological assistance from DoCoMo and others. But, it has been unable to take market share away from larger service providers in the country and currently has a share of less than 1 percent, the Nikkei said.
DoCoMo will walk away from the tie-up with U Mobile due to a difference of opinion, according to a senior DoCoMo executive and KT Freetel is slated to follow suit, the newspaper reported.
DoCoMo to sell stake in Malaysian U Mobile
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U Mobile entered the Malaysian cell phone market in spring 2008, providing 3G services to customers with technological assistance from DoCoMo and others. But, it has been unable to take market share away from larger service providers in the country and currently has a share of less than 1 percent, the Nikkei said.
DoCoMo will walk away from the tie-up with U Mobile due to a difference of opinion, according to a senior DoCoMo executive and KT Freetel is slated to follow suit, the newspaper reported.
DoCoMo to sell stake in Malaysian U Mobile
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Halex to list on Wednesday
The company is principally involved in the manufacturing, formulation, repackaging, distribution and agency of agrochemicals; propagation of ornamental plants; propagation and sales of foliage cuttings, potted and festive plants; and manufacturing and distribution of health care disposable products.
The stock short name, stock code and ISIN code of HALEX is "HALEX", "5151" and "MYL5151OO005" respectively.
source from www.theeedgemalaysia.com
The stock short name, stock code and ISIN code of HALEX is "HALEX", "5151" and "MYL5151OO005" respectively.
source from www.theeedgemalaysia.com
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