Gabungan AQRS, George Kent expected to draw interest

by **hlk** Mon 20 May 2013, 09:41

Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Monday, 20 May 2013 08:46
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KUALA LUMPUR: Based on news flow and Bursa Malaysia
announcements last Friday, stocks to watch today may include the
following:
PPB GROUP BHD [] reported a 32% rise in first quarter net profit from
a year earlier. The rise came mainly on higher contribution from its
PLANTATION []-based associate Wilmar International Ltd which is listed
in Singapore.
PPB said net profit came to RM236.34 million in the quarter ended
March 31, 2013 compared with RM178.5 million previously. Revenue
was up 10% to RM763.85 million from RM696.96 million.
Gabungan AQRS Bhd may attract market interest after the builder and
property developer said it plans to buy back its own shares amounting
to a maximum of 10% of its issued share base.
The firm has proposed to seek its shareholders’ approval for the share
buyback.
GEORGE KENT (M) BHD [] will be closely watched after the firm said
the termination of its water concession in Papua New Guinea has been
reversed.
Papua New Guinea government-owned Eda Ranu has withdrawn its
termination notice to George Kent’s 19% associate PNG Water Ltd for
the 22-year concession which ends on June 22, 2019.
George Kent did not specify reasons for the termination notice withdrawal.
Ingress Corp Bhd’s major shareholders’ offer to acquire the remaining shares of the automotive parts manufacturer is seen as
fair and reasonable, independent adviser Affin Investment Bank said.
Affin said the RM1.85 a share offer is a premium of 16.35%, 83.17% and 51.64% respectively over the highest, lowest and
average closing prices of Ingress shares for the year up to April 15, 2013.
PINTARAS JAYA BHD []’s third quarter net profit grew 54% year-on-year as the builder realised profits from completed
projects.
Pintaras Jaya said net profit for the three months ended March 31, 2013 (3QFY13) grew to RM13.81 million from RM8.95
million. Revenue, however, fell 5.84% to RM42.43 million from 45.06 million.
Cumulative net profit for the nine months was higher at RM36.16 million against RM34.12 million a year earlier. Revenue fell
to RM122.14 million from RM136.11 million.
The firm declared an interim dividend of 10 sen a share for the quarter in review.