MSM Malaysia Holdings Bhd, a leading sugar manufacturer in Malaysia, is schedule to be listed in Main Market on 28th June 2011.
The Initial Public Offering (IPO) consists of 234.6 million ordinary shares at an IPO price of RM3.38 per share at RM0.50 par value. However, the final retail price will be equal to the 97% of the institutional price.
Out of 234.6 million shares, 206.4 million shares are offered to Malaysian and foreign institutional and selected investors and a retail offering of 28.1 million shares to the Malaysian public and employees of MSM Malaysia Holdings Berhad.
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KNM shares price has been beaten again recently due to lower than expected earnings for first quarter ending 31st March 2011. On 30th May 2011 KNM share price closed at RM2.10.
This is the second time this year, KNM share price drop drastically. In February 2011, the price drop from RM2.80 to RM2.30 due to lowest recorded profit. But the price recover to RM2.85 in 2 weeks.
Despite the negative news, many research houses are still maintaining a “buy” call for KNM because their order book is still strong. They believe, it is a good opportunity to accumulate KNM share due to lower share price.
The table below are the compilation of KNM fair value / target price various research house.
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Bank Negara Malaysia (BNM) will issues a new series of Malaysian banknotes and coins and it will be circulated in early 2012. The issuance of new design is a normal exercise where it is to be taken every twelve years.
The theme of the design of the new currency series will include features that are distinctively Malaysia and will include enhanced security elements due to advancements in technology for currency notes.
The issuance of new banknotes is the fourth series, design of banknotes. It will come in the denomination of RM1, RM5, RM10, RM20 and RM100.
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It does look like latex price won’t be going anywhere for now. The commodity has of late been locked between RM8.61/kg (recent low) to about RM11.00/kg (its all-time high).
This price band is attributed to a clash between 2 factors, namely heavy rain and severe floods in southern Thailand resulting in a scarcity of latex supply, being offset by Weaker Japanese auto sales after the devastating earthquake created an auto parts shortage that will dampen tire demand.
Share prices of Top Glove, Supermax and Kossan have remained above their recent lows, a sign that the anticipated selldown in the earlier months has been well absorbed.
OSK maintain Overweight on the sector with top picks still remain Top Glove, Supermax and Kossan. The risk is if the oil price shoots past its record high of USD147/barrel on the continuing turmoil in the Middle East which will likely cause the prices of all commodities to spike up, including that of latex.
Below are the target prices and ratings for selected rubber glove stock.
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UOA Development Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 60 million shares. It was oversubscribed by 3.40 times. The IPO attract 23,171 applications or 263.9 million shares.
The institutional IPO prices was fixed at RM2.60 per share. Accordingly, the final retail price was fixed at RM2.52 per shares, represent 3 percent discount to the institutional price. The refund of RM0.38 per share will be send to successful retail applicants by 10 market days.
30 million shares were allocated for Bumiputera category while 30 million shares were allocated for Malaysian Public category. Below are the allotment summary for public portion.
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