KUALA LUMPUR: After two consecutive days of losses, which saw the FBM sliding 16.64 points to end Tuesday, July 12 at 1,578.10 and RM13.37 billion erased from the market capitalisation, investors are expected to stay cautious on Wednesday.

All the key Asian markets ended Tuesday in the red. The 30-stock KLCI ended 0.66% lower but year-to-date, it was still up 3.9%. Its market capitalisation at the end of Tuesday was RM1.342 trillion

Investors' fears that Europe's debt crisis could spread persisted despite European Union officials' pledges to help heavily indebted euro zone members. These fears continued to weigh on market sentiment.

At Bursa Malaysia, stocks to watch include Old Town Bhd, which will make its debut, BTM RESOURCES BHD [], Nadayu PROPERTIES [] Bhd (formerly MUTIARA GOODYEAR DEVELOPMENT [] Bhd) and JOHAN HOLDINGS BHD [].

As for Old Town, Hwang DBS Vickers Research fair value was RM1.50 based on FY12 price-to-earnings of 12 times. Old Town operates café chain and coffee beverage manufacturing.

BTM's subsidiary Syarikat Maskayu Sawmill Sdn Bhd,has received the approval from the Terengganu government to extract forest products in Kemaman.

BTM had received the approval from the Terengganu State Forestry Department for the forest concession covering 404.70 hectares.

"The agreement is for a period of three years effective from July 3, 2011 to July 2, 2014," it said.

Nadayu has formalised its acquisition of 3.56 acres of land along Jalan Sultan Ismail from UDA Holdings Bhd for RM215.5 million.

It had entered into a sales and purchase agreement with UDA to formalise the terms and conditions of the proposed acquisition.

Nadayu said the Land is along Jalan Sultan Ismail and behind the buildings on Jalan Doraisamy.

Based on UDA's financial year ended Dec 31, 2010, the audited net book value of the land was RM31.71 million. There are plans to build a 30-storey service apartment building, an eight storey podium car park and a three-storey retail shopping complex.

Johan Holdings Bhd AGM is scheduled to be held at George Kent TECHNOLOGY [] Centre, along Jalan Dengkil in Puchong at 11am.

Investors are expected to raise questions when Johan will turn around. It posted net losses of RM8.70 million in the first quarter ended April 30, 2011 versus net profit of RM6.02 million a year ago. Revenue was RM66.10 million compared with RM68.66 million a year ago.

Its administrative and other expenses were RM43.02 million compared with RM40.77 million a year ago while finance costs rose to RM14.53 million from RM9.51 million a year ago.

Johan had then announced total revenue of RM66.102 million for the 1Q fell 15.1% from the RM77.904 million in the 4Q ended Jan 31, 2011. However, group loss after tax narrowed to RM8.82 million when compared to the 4Q loss after tax of RM15.261 million.