Written by Joseph Chin of
Monday, 16 January 2012 20:25
KUALA LUMPUR (Jan 17): The strong corporate newsflow would provide excitement to the markets on Tuesday, despite the cloud of uncertainties from the eurozone.
Reuters reported European stocks were slightly higher in a choppy session on Monday, with weakness in banks after a mass credit downgrade of euro zone countries offset by a rise in defensives, such as pharmaceuticals.
Late on Friday, Standard & Poor's cut the ratings of Italy, Spain, Portugal and Cyprus by two notches and France, Austria, Malta, Slovakia and Slovenia by one notch each.
At Bursa Malaysia, the FBM KLCI fell below the 1,510- level in line with the overall weaker investor sentiment at key regional markets following Standard & Poor’s cutting the sovereign credit rating of nine of the euro zone's 17 countries.
The FBM KLCI fell 14.01 points to 1,509.06 in a broadly weaker market.
Stocks which could see trading interest area PROTON HOLDINGS BHD , DRB-HICOM BHD , HOVID BHD , Bumi Armada Bhd, HEITECH PADU BHD  and Kimlun Corp Bhd.
Proton and DRB-Hicom resume trading after a one-day suspension. As expected, Khazanah Nasional Bhd announced it was divesting its 42.72% Proton stake to DRB-Hicom for RM5.50 per share or RM1.291 billion cash.
Upon completion of the sale and purchase agreement, DRB-Hicom will be obliged to undertake a mandatory general offer on the remaining Proton shares.
Bursa Malaysia Securities has lifted Hovid Bhd from the Practice Note 17 status with effect from Tuesday.
Bumi Armada Bhd’s subsidiary, Bumi Armada Navigation Sdn Bhd has secured a RM155 million contract from Petróleo Brasileiro S.A. The contract was to provide one anchor handling towing support (AHTS) vessel to Petrobras in its hydrocarbon and mining activities in the Brazilian continental shelf.
HeiTech Padu has secured a RM63.60 million contract from Bank Simpanan Nasional for the latter’s proposed core banking system.
Kimlun Corporation Bhd has landed a contract worth RM82.1 million to build two blocks of service apartment and ancillary buildings in Johor Bahru. The company said its unit Kimlun Sdn Bhd had accepted the letter of award from Ikatan Flora Sdn. Bhd, a sub-subsidiary of IJM Land Bhd for the contract.
DAYANG ENTERPRISE HOLDINGS BHD  has received an extension of its workboat contract valued at RM85 million from Nautika Sdn Bhd.
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