http://www.feedmingle.com/mingle/1501 2009-06-14 Created with FeedMingle.com en-us http://www.theedgemalaysia.com/index.php?option=com_content&task=view&id=170965&Itemid=79 Sat, 31 Jul 2010 11:43:01 UTC KUALA LUMPUR: After notching gains for the sixth-straight day and pushing the FBM KLCI past the 1,360 level on Friday, July 30, the market may take a breather before attempting to climb further. The cautious sentiment could be due to the lacklustre close on Wall Street on Friday. Last Friday, the 30-stock FBM KLCI closed at 1,360.92, another new high since February 2008.Á> For July, it chalked up 46.90 points or 3.57%. Global stocks and the U.S. dollar slid on Friday, July 30 as investors trimmed risk exposure on data showing the U.S. economy slowing a bit more than expected even as other news suggested a slow, steady recovery. Reuters reported Wall Street closed little changed to wrap up its best month in a year after another week of strong corporate results that offset the impact of lackluster economic data. The 7% gain in July for the S P 500 and Dow was on low volume and followed an almost 14% decline through May and June. The Dow Jones industrial average closed down 1.22 points, or 0.01%, at 10,465.94. The Standard Poor's 500 Index gained 0.07 point, or 0.01%, at 1,101.60. The Nasdaq Composite Index rose 3.01 points, or 0.13%, to 2,254.70. Stocks to watch on Monday include Tanjong plc, Zelan Bhd and Ngiu Kee Corp (M) Bhd. Billionaire T. Ananda Krishnan's Usaha Tegas Sdn Bhd, which controls 46.96% of Tanjong plc, has served a take-over on the power-gaming company at RM21.80 per share or for RM4.7 billion. The offer price is RM4.22 or 24% above its pre-suspension price of RM17.58. Zelan has proposed to dispose of 30 million shares in IJM Corp Bhd, or 2.23% on IJM Corp at an assumed price of RMM5.80 each. လThe proposed disposal would raise gross proceeds of up to RM152.4 million,ဝ Zelan said, as it seeks to obtain the shareholdersမ mandate for the disposal. As at July 15, Zelanမs total borrowings were RM291.98 million. Possible annual savings in interest payment arising from part repayment of about RM50 million of such borrowings (estimated based on the average interests cost of the said borrowings of about 7% per annum) could be about RM3.50 million per annum. In Ngiu Kee, the company said there was a deviation of 109% between the unaudited net profit for the year ended March 31, 2010 of RM2.48 million and the audited net loss of RM5.93 million. The bigger losses followed an impairment review in accordance with FRS 136, the company said. Meanwhile Hirotako Holdings Bhd has emerged as a major shareholder in PA Resources Bhd with a 15.99% stake or 30.65 million shares after it subscribedÁ> for the shares to rights issue and allotment of excess shares. The investment in PA Resources could be a bid to enter the aluminium industry at low cost, according to a report by The Edge weekly. http://biz.thestar.com.my/news/story.asp?file=/2010/7/31/business/6770072&sec=business Sat, 31 Jul 2010 04:07:16 UTC LIKE for many other advertising agencies, 2009 had been a painful year for Spencer Azizul Sdn Bhd. Its revenue plunged about 50%, and this wholly Malaysian-owned agency fell into the red for the first time since 1997. http://biz.thestar.com.my/news/story.asp?file=/2010/7/31/business/6744887&sec=business Sat, 31 Jul 2010 04:06:39 UTC Compiled by THEAN LEE CHENG. http://biz.thestar.com.my/news/story.asp?file=/2010/7/31/business/6743238&sec=business Sat, 31 Jul 2010 04:06:01 UTC Review by Andrew Lee. http://biz.thestar.com.my/news/story.asp?file=/2010/7/31/business/6761216&sec=business Sat, 31 Jul 2010 04:05:24 UTC THE rapid development of Bangsar South City in Kampung Kerinchi by UOA Group is now changing the landscape of the area that used to be a slum with squatters. http://biz.thestar.com.my/news/story.asp?file=/2010/7/31/business/6752022&sec=business Sat, 31 Jul 2010 04:04:08 UTC EVERY year, the SMI Association of Malaysia receives complaints from its members about the difficulties of securing credit. http://biz.thestar.com.my/news/story.asp?file=/2010/7/31/business/6763253&sec=business Sat, 31 Jul 2010 04:03:43 UTC CHINA listings on Bursa Malaysia have disappointed a lot of investors with their weak performance. http://biz.thestar.com.my/news/story.asp?file=/2010/7/31/business/6751537&sec=business Sat, 31 Jul 2010 03:59:19 UTC WHEN the financial crisis came two years ago, Boschမs Power Tools division remained steadfast to counter the crisis in Asia-Pacific. http://biz.thestar.com.my/news/story.asp?file=/2010/7/31/business/6768299&sec=business Sat, 31 Jul 2010 03:58:13 UTC YOU could call it a home-coming of sorts. Parkway Holdings Ltd, which will likely fall into the hands of Khazanah Nasional Bhd, was founded back in the 1970s by Malaysians. http://biz.thestar.com.my/news/story.asp?file=/2010/7/31/business/6772727&sec=business Sat, 31 Jul 2010 03:57:40 UTC PETALING JAYA: Time Engineering Bhd has disposed of 32.2 million shares in Time dotCom Bhd (TdC), representing 1.27% of the issued and paid-up share capital of TdC, in the open market for RM18.9mil cash. http://eulogik.com Sat, 31 Jul 2010 16:40:47 UTC Get your web startup idea incubated by professionals.