#Stocks to watch* Banks, Dialog, Benalec, CBIP, Bina Puri

  • PR would have suffered serious losses in 2013 polls if hudud was major issue, says DAP
    PR would have suffered serious losses in 2013 polls if hudud was major issue, says DAP

    Pakatan Rakyat would have suffered devastating setbacks in Perak, Pahang, Negri Sembilan and Melacca if it had made hudud a major issue in last year’s general election, DAP advisor Lim Kit Siang said. The Gelang Patah MP (pic), who had earlier said hudud was never a vote-winner for PAS in previous elections, gave an illustration of how PR... …

  • Court acquits PKR rep, rules 10-day notice in public assembly act ‘unconstitutional’
    Court acquits PKR rep, rules 10-day notice in public assembly act ‘unconstitutional’

    The Court of Appeal today struck out the charge against Selangor's deputy speaker Nik Nazmi Nik Ahmad who was charged under the Peaceful Assembly Act for failing to give police a 10-day notice for a rally last year. A three-man bench led by judge Datuk Mohamad Ariff bin Md Yusof also ruled in a unanimous decision today that Section 9 (1) of... …

  • Assembly law cannot criminalise public gatherings, court rules
    Assembly law cannot criminalise public gatherings, court rules

    PUTRAJAYA, April 25 ― The Court of Appeal today unanimously ruled it unconstitutional to criminalise spontaneous public assemblies in breach of the 10-day notice required under the Peaceful... …

  • Albukhary International University withdraws decision to cease operations – Bernama
    Albukhary International University withdraws decision to cease operations – Bernama

    The Albukhary International University (AiU) in Alor Setar, Kedah has withdrawn its decision to cease operations. Second Education Minister Datuk Seri Idris Jusoh said the ministry was informed of the matter by the management of AiU through a letter Wednesday. "With that decision, the matter is no longer an issue," he told reporters... …

  • Jalan Bukit Bintang stretch remains closed to traffic
    Jalan Bukit Bintang stretch remains closed to traffic

    The 500m stretch of Jalan Bukit Bintang (Jalan Tun Razak-bound) between Chulan Square and Menara Worldwide will remain closed to all traffic, said Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) today. At 10.42pm last night, a sinkhole appeared at the left lane of Jalan Bukit Bintang, said MRT Corp in a statement released this morning. The... …

  • Bible ban in Pahang hotels draws flak
    Bible ban in Pahang hotels draws flak

    Islamic authorities in Pahang have overstepped their jurisdiction by banning non-Muslim religious materials in hotels in the state, say political and religious leaders. The Pahang Islamic and Malay Customs Council's (Muip) recent prohibition is the first ever such ban to be issued in the country involving hotels, and has drawn strong criticism... …

KUALA LUMPUR: Investor sentiment at Asian markets, including at Bursa Malaysia, is likely to remain tepid on Thursday, June 2 as fresh data showed a slowdown in US employment as well factory production in Asia and Europe.

US private sector payroll growth slowed sharply in May and fell to the lowest level in eight months.

The ADP Employer Services report showed private employers added only 38,000 jobs last month, while April private payrolls were revised down to an increase of 177,000 from the previously reported 179,000.

The ADP figures came ahead of the initial jobless claim data scheduled to be released by the US Department of Labor later today.

Meanwhile, factory growth eased in Europe and Asia in May, surveys showed on Wednesday, feeding concerns that the world's main economic engines are cooling fast as richer countries curtail orders, according to Reuters.

Purchasing managers indexes (PMI), measuring the activities of thousands of factories across the world, sank to multi-month lows in China and Europe, where even regional pacesetters France and Germany showed fresh signs of sagging, it said.

On Bursa Malaysia, stocks that could be in focus include banking stocks, Dialog Group Bhd, Benalec Holdings Bhd, CB Industrial Product Holding Bhd and Bina Puri Holdings Bhd.

RHB Capital Bhd yesterday said it had been formally been notified by CIMB and Maybank that the two latter parties had received approval from Bank Negara Malaysia to commence possible talks with RHB Capital.

CIMB and Maybank closed lower yesterday in active trade a day after they had both separately given the nod by Bank Negara to start talks with RHB Capital.

Dialog’s unit Dialog E&C Sdn Bhd has inked a RM1.9 billion contract with Pengerang Independent Terminals Sdn Bhd (PITSB) to build the first phase of an independent deepwater petroleum terminal at Pengerang, Johor.

Benalec expects to realise a net gain of RM34.93 million from the completion of separate agreements its units have entered for the disposal of land and joint venture for a mixed property development.

Benalec on June 1 said its subsidiaries Sentosacove Development Sdn Bhd and Orientalcove Realty Sdn Bhd had entered into a sale and purchase agreement and joint venture agreement with Vista Selesa Development Sdn Bhd, respectively.

CBIP is selling its entire equity interests in Sachiew Plantations Sdn Bhd and Empressa (M) Sdn Bhd for a total of RM268.06 million.

Sachiew is principally involved in the cultivation of oil palm and production of crude palm oil and palm kernel, while Empressa engages in the cultivation of oil palm and the operation of a palm oil mill.

CBIP said the gross proceeds of RM268.06 million from the disposal would be utilised for its working capital including for financing receivables, inventories, and repayment of bank borrowings.

Meanwhile, Bina Puri’s 80%-indirect owned subsidiary PT Megapower Makmur has received two contracts from PT PLN (PERSERO) to operate power plants in Indonesia.

 

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  • MH370 passenger’s partner tells of strange email from sacked Fox officer The Malaysian Insider
    MH370 passenger’s partner tells of strange email from sacked Fox officer

    The partner of an American passenger aboard the missing Malaysia Airlines flight MH370 has spoken about how a Fox executive who was recently sacked by the news station had contacted her offering to raise funds on her behalf. Sarah Bajc, whose partner Philip Wood is among the 239 people on board the missing plane, told the Sydney Morning Herald... …

  • My last moments with Pa: Ramkarpal Singh The Malaysian Insider
    My last moments with Pa: Ramkarpal Singh

    A week after the tragic crash that took the lives of veteran lawyer and politician Karpal Singh and his personal aide, Michael Cornelius, his son Ramkarpal recounts the final hours with his father that fateful day. This is his story, as told to V. Anbalagan, assistant news editor. “My parents (Karpal and Gurmit) had gone to Pantai Hospital... …

  • In Disney's shadow, homeless families struggle Associated Press
    In Disney's shadow, homeless families struggle

    KISSIMMEE, Fla. (AP) — When they moved from Georgia to the theme park playground of central Florida four years ago, Anthony and Candice Johnson found work at a barbecue restaurant and a 7-Eleven. Their combined salaries nevertheless fell short of what they needed to rent an apartment, so the couple and their two children have instead been hopping among cheap motel rooms along U.S. 192. …