PUCHONG: Bolton Bhd is looking at overseas venture for further business expansion, its managing director Chan Wing Kwong said.

Speaking to the press after unveiling The Wharf here on Friday, Aug 20, he added that it is looking at countries "within five to six hours away" from Malaysia, such as China and Vietnam.

NEW YORK: US mortgage applications leaped last week as rock-bottom interest rates lifted demand for home refinancing to its highest level in 15 months, a development that could portend stronger economic growth.

Home loan refinancing puts extra cash into consumers’ hands that can be used to pay off existing debt or funnel money into the economy through extra spending.

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.