KUALA LUMPUR: WCT Bhd’s net profit for the second quarter ended June 30, 2010 (2QFY10) dipped 19.5% to RM33.75 million from RM41.95 million a year earlier on the back of lower revenue of RM513.56 million versus RM1.17 billion.

KUALA LUMPUR: As shareholders ponder over the upcoming EGM, Genting Malaysia Bhd’s (GenM) plans to enter the US market are nearing fruition.

PUTRAJAYA: The federal government, in principle, has agreed to streamline any future increase in water tariff and quit rent proposed by state governments, Prime Minister Datuk Seri Najib Razak said.

The matter, however, was subject to agreement from the state governments, irrespective of whether they are under the Barisan Nasional or opposition pact, he said.

Job win prospects stay strong

Further upside in Batu Kawan?

Gaining traction
Highlights:

• Outperform: We are recommending Outperform with the target price of RM3.10 ascribing forward PE of 15X against EPS of 20.7sen. We are convinced of the turnaround in their construction activities following the implementation of government projects in 2HCY10.

WCT BHD

• Belated re-rating of property stocks in Malaysia. Thus far this year, property equities have underperformed the rising market despite physical transaction volumes rising with consistently strong pricing trends. YTD, sector stalwarts – SP Setia and IJM Land, have underperformed the market by 1% and 6.9%, respectively.

Earlier this week, Vietnam’s central bank announced that it would devalue the average Dong/US dollar interbank exchange rate by 2.1%. Latest round of increase is the third time in nine months that the Vietnamese Government has devalued its currency. As such, the official lower limit for the Dong is now pegged at 19,500 against the Greenback effective

HONG KONG: Measures by the government and banks will lead to a slowing of sales transactions in the short-term, but luxury residential property prices are predicted to increase over the next 12 months, according to Colliers International Hong Kong Residential Snapshot statement on Friday, Aug 20.