June 10th - Stocks To Watch H&L, TIME dotCom, Tambun Indah, Global Oriental, Wing Tai, plantation firms

Stocks To Watch H&L, TIME dotCom, Tambun Indah, Global Oriental, Wing Tai, plantation firms
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Friday, 07 June 2013 19:33


A + / A - / Reset
KUALA LUMPUR (June 7): Based on Bursa Malaysia announcements and news flow today, stocks to watch this Monday (June 10) may include the following companies :

Kumpulan H & L High-Tech Bhd, a plastic-injection specialist, is diversifying into oil palm PLANTATION [].

H&L said the firm has leased an estimated 444ha (1,110 acre) of native land in Bintulu, Sarawak for the venture. The company said it has signed renting agreements with individual owners of the land.

TIME DOTCOM BHD [] (TdC) which plans to distribute its 137.54 million shares in DIGI.COM BHD [] to the former's shareholders, will trade ex-offer this Monday.

Under the exercise, TdC shareholders will receive 24 DiGi shares for every 100 shares held in TdC.

Property developers Tambun Indah Land Bhd, Global Oriental Bhd and Wing Tai Malaysia Bhd which have projects in Penang mainland may be closely watched.

This follows news on the Second Penang Bridge ramp collapse.

RHB Research Institute Sdn Bhd analyst Loong Kok Wen said in a note that the collapse of a section connecting the Second Penang Bridge to the Tun Dr Lim Chong Eu Expressway could see some knee-jerk reaction in share prices of developers with projects in Penang mainland.

Meanwhile, plantation firms could be in the spotlight ahead of the Malaysian Palm Oil Board's announcement this Monday on domestic crude palm oil production and inventory levels for May 2013.

Reuters reported that Malaysia's end-May palm oil stocks likely fell to their lowest in almost a year, as exports and domestic consumption continued to offset stagnant output in the world's number two producer, according to a survey of five plantation companies.

Inventory levels may have eased 7.6% from a month ago to 1.78 million tonnes in May, which would be the fifth straight monthly decline and the lowest level since stocks hit 1.7 million tonnes in June 2012.

There has been a steady decline in palm oil stocks in Malaysia this year, from their record high of 2.63 million tonnes hit in December, due to a seasonally-weaker production that is expected to pick up only in the second half of the year.

Palm oil output in Malaysia likely rose 2% from a month ago to 1.39 million tonnes in May, but still fell short of estimated exports of 1.41 million tonnes, the survey showed.