KUALA LUMPUR: The smooth handover of the power from Prime Minister Datuk Seri Abdullah Ahmad Badawi to his deputy Datuk Seri Najib Tun Razak will help underpin investors' confidence in the market.

Abdullah is scheduled to have an audience with the Yang di-Pertuan Agong on April 2 over his resignation and hand over the reins to his deputy.

Meanwhile, stocks which would see trading interest on March 30 will include Malayan Banking, TM International due the recent rights issues, Alam Maritim Resources, Weida, Ingress and Englotechs.

Maybank’s renounceable rights shares issue of up to 2.21 billion new shares of RM1 each at RM2.74 per rights shares will go ex on March 31 and start trading on April 7.

The rights shares were issued on a nine-for-20 shares basis. The stock short name, number and ISIN code are Maybank-OR, 1155OR and MYL1155OR003 respectively.

Maybank closed four sen lower to RM4.34 on March 27.

TM International will be in focus over its renounceable rights issue of about 4.69 billion new shares which will go ex on April 8 and start trading on April 10. The selldown of TMI had abated late last week.

Silver Bird posted net profit of RM104,000 for 1Q ended Jan 31 from net loss of RM8.42 million a year ago. In the preceding Q4, it had reported a net profit of RM70,000.

Alam Maritim had proposed a final dividend of 2% or 0.5 sen per share for FY08 but details of entitlement and payment dates would be determined and announced later.

Weida could see interest due to the solid fundamentals as a fully-integrated leading provider of water- and wastewater-infrastructure products and services. However, the strengths are offset by an exposure to construction and property development cycles as well as cross-border risks posed by its initial foray into Syria.

Malaysian Rating Corporation affirmed its MARC-1ID/A+ID ratings on Weida’s RM100 million debt notes.

Ingress posted larger net loss of RM64.6 million in the fourth quarter ended Jan 31, 2009 from losses of RM7.2 million a year ago.

Englotechs saw the rating of its RM50 million debt notes downgraded after the the cotton glove manufacturer’s failure to meet its profit payment of RM1.7 million due on March 26.