Remember the LORD for it is he who gives you the ability to produce wealth and so confirms his covenant... Deut. 8:18

Wednesday, April 14, 2010

News: Telekom. Supermax. MaSteel

The Employees Provident Fund, Malaysia’s largest pension fund, bought 5.5 million shares in Telekom Malaysia Bhd, between April 5 and 6, raising the fund’s stake in Telekom, the nation’s biggest fixed line operator, to 11 per cent, according to a stock exchange filing. -- Bloomberg

Supermax Corp Bhd is optimistic of a bullish financial performance this year as its expects earnings per share (EPS) for the first quarter of 2010 to exceed its earnings guidance for the year. Executive chairman cum group managing director Datuk Seri Stanley Thai said the company was revising its EPS target from a minimum of 50 sen per share to a minimum of 62 sen per share for the financial year ending Dec 31, 2010. He said the revised profit guidance for the current year took into account latex price fluctuations, foreign exchange and the possibility of a hike in natural gas and electricity tariffs.

Malaysia Steel Works (KL) Bhd (Masteel) expects its overseas revenue contribution to grow by 65 per cent in 2012 from the 30 per cent at present following the completion of its downstream expansion.