Technical | Fundamental Analysis Discussion Stocks Listed In Bursa

Thursday, March 5, 2009

Bursa Chat - News Highlights (05.03.2009)

Ramunia Holdings (RM0.31/share)
Tabung Haji to hold on to Ramunia stake Lembaga Tabung Haji will hold on to its 29.6% stake in loss-making shipbuilder Ramunia Holdings Bhd as it believes in the latter’s long-term growth. Although Ramunia is not doing well currently, Tabung Haji will not pull out its investment because of the shipbuilder’s good assets, Tabung Haji group managing director and chief executive officer Datuk Ismee Ismail said. “Our investment in Ramunia is long- term and it has good assets, such as its yard in Teluk Ramunia, and oil price has stabilised at the US$40/barrel (RM149) mark.” - Business Times

Tenaga Nasional (RM6.25/share)
Bakun project ready in 2011
The Bakun hydro-electricity project will be completed in 2011, four years later than originally planned, the Government said yesterday. Deputy Finance Minister Kong Cho Ha said civil works for the Bakun project would be ready in June 2010 while the electrical and mechanical works would be completed in the fourth quarter of 2011. “The first commissioning is expected in August 2010,” he added. The completed project is expected to cost RM7.5bil (US2.02bil), according to the government. - Business Times

Financial Services Sector
Local banks remain well-capitalised, says Zeti Malaysian banks remain well-capitalised with adequate liquidity in the system and this has enabled them to continue lending even in times of uncertainty, said Bank Negara Malaysia governor, Tan Sri Dr Zeti Akhtar Aziz. In an interview with the Oxford Business Group (OBG), Zeti said faced with the challenge of the slowest economic growth for eight years, it was this liquidity which would be one of the prime tools for promoting growth and staving off an economic downturn. Among measures she added taken by Bank Negara was to encourage banks to restructure the loans before they turn bad as well as to provide funds for small and medium enterprises. - Bernama

AirAsia Bhd (RM0.93/share)
Seeks waiver on landing and parking charges AirAsia Bhd group CEO Datuk Seri Tony Fernandes feels the airline and sister carrier AirAsiaX should not pay for parking and landing charges at the new permanent low cost carrier terminal (LCCT) that will be ready by 2011. “We should not be charged for the landing and parking of our aeroplanes as we are bringing in the volume of passengers for the airport operator,” he said. He said airport operator Malaysia Airports Holdings Bhd (MAHB) should be able to earn enough income from letting its shoptlots at the new terminal to cover its costs. “We need to get the right cost structure to enable us to provide low fares as our business model is about low fares and free seats,” Fernandes said.- Business Times

Plantations Sector
EU’s new law may hurt palm oil exporters Malaysia’s palm oil exports to European Union (EU) countries may be affected by the European Commission’s (EC) latest renewable energy directive on biofuel content, which encompasses regulations on carbon emissions. The latest directive will be made into national laws within the next 18 months. Local industry players, including those with Roundtable on Sustainable Palm Oil (RSPO) certifications, must be able to comply with the EC’s latest “sustainability and environment” requirements designed to reduce greenhouse gas emissions, said Mission NewEnergy Ltd chief sustainability officer Mursalin New. Mission NewEnergy is a biodiesel producer, and has a plant in Kuantan with a production capacity of about 100,000 tonnes per year. The EU, as a bloc of 27 countries, is the second-largest importer of Malaysian palm oil after China. - The Star

Transportation and Logistic Sector
Low-cost airlines will soar, says Aussie Tiger Airways chief Low- cost airlines will take the market share from larger carriers as bargain fares tempt travellers, Tiger Airways Australia managing director Shelley Roberts says. She said cheap travel would stimulate the travel market during the economic downturn, encourage competition and make domestic travel accessible to everyone, the Australian Associated Press reports. - Bernama

Scomi Group (RM0.31/share)
Delaying rights issue proposal The board of Scomi Group Bhd has decided to extend the timeframe to submit its proposed rights issue application to the Securities Commission. In view of the uncertain market sentiment, both globally and domestically, the deferment will, amongst others, facilitate time for the group to revisit its proposals when market sentiment has improved. - Bursa Malaysia

If you like the post, please subscribe to Bursa Chat. We will send you the latest post by Email
===> Click
Subscribe to Bursa Chat by Email


No comments:

For New UBER users, Get RM15 off