Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Nov 18th - Stocks To Watch Index stocks, Dayang, MWE, SLP, AT System, Metronic, Formosa, Bumi Armada, RCE

Go down

Nov 18th - Stocks To Watch Index stocks, Dayang, MWE, SLP, AT System, Metronic, Formosa, Bumi Armada, RCE Empty Nov 18th - Stocks To Watch Index stocks, Dayang, MWE, SLP, AT System, Metronic, Formosa, Bumi Armada, RCE

Post by Cals Mon 18 Nov 2013, 00:11

Stocks To Watch Index stocks, Dayang, MWE, SLP, AT System, Metronic, Formosa, Bumi Armada, RCE
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com   
Friday, 15 November 2013 20:56
KUALA LUMPUR (15 Nov): Index stocks may draw some interest on Monday (Nov 18) following the announcement by the central bank today that the local economy for the third quarter grew 5% year on year, higher than street expectations of 4.7%-4.8%.

The other stocks that may stir include Dayang, MWE, SLP, AT System, Metronic, Formosa, Bumi Armada and RCE.

Dayang Enterprise Bhd’s unit is one of the six companies which have won multi-billion contracts from national oil firm Petronas.

Petronas has awarded a major 13-package, five-year offshore hook-up, commissioning and maintenance services contract with a total work value of about RM10 billion to six local service providers.

It said the Pan Malaysia Integras Sdn Bhd for a period of five years commencing from 2013.

MWE Holdings Berhad posted a net loss of RM13.2 million for the third quarter ended Sept 30, compared with profit of RM11.2 million in similar quarter of the previous financial year.

For the cumulative nine months to Sept 30, profits totalled RM 0.59 million, down sharply from RM34.7 million posted in similar period a year ago.

Revenue for the quarter under review fell to RM 86.7 million, from RM118.7 million the previous year similar quarter.

For the cumulative nine months, revenue totalled RM255 million, down from RM 371.7 million from similar period a year ago.

Looking ahead, MWE said the group’s revenue and profitability for current financial year will be mainly driven by textile business after the disposal of lighting division in 2012.

“With the recent acquisition of K-Euro, the group has diversified into other businesses of property and infrastructure development. The acquisition is expected to contribute positively to the group’s future profitability,” it added.

SLP Resources Berhad’s net profit for the third quarter ended September 30 rose to RM 4.1 million, from RM 2.2 million in the second quarter of the previous year.

Revenue for the quarter increased to RM43.1 million from RM37.9 million.

For the cumulative nine months to September 2013, profits totalled RM9.0 million, up from RM7.8 million in the similar period the previous year. Revenue also rose to RM120.6 million from RM114.8 million.

AT Systematization Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia, on the recent fall in price and high volume in AT’s shares.

The stock exchange queried if there is any corporate development relating to AT’s business and affairs that has not been previously announced, which may account for the trading activity including those in the stage of negotiation or discussion.

In response, AT Systematization Bhd said it is not aware of any factor which may have contributed to its unusual trading activity.

AT said it is not aware of any corporate development in relation to the group’s business and affairs that has not been previously announced.

Metronic Global Bhd
 announced it will develop prime land in Kuala Lumpur with an estimated gross development value of RM80 million in a joint venture.

In a statement to Bursa Malaysia, the firm said via its wholly owned unit M One Country Development Sdn Bhd (MOCD), it had today entered into an agreement with Northern Paradise Sdn Bhd (NPSB) for the development of a residential/commercial project.

The proposed development would take place leasehold land measuring circa 0.5591 acre in Kuala Lumpur.

“The proposed JV and the proposed development are expected to contribute positively to the earnings and cash flow of the group in the future,” said Metronic.

Metronic said in consideration of the proposed JV, MOCD would pay NPSB a sum representing 30% of the gross sales value of the proposed development.

The development period of the proposed development is five years from the date MOCD obtains the vacant possession of the land from NPSB, it said.

Formosa Prosonic Industries Bhd saw its net profit fall to RM8.6 million in the third quarter of this year (3QFY13), from RM11.3 million in 3QFY12.

Revenue had also decreased to RM175.9 million in 3QFY13, from RM227.4 million in 3QFY12.

Cumulatively, profits had declined to RM17.9 million (9MFY13) from RM24.6 million in the preceding corresponding period (9MFY12).

Revenue for the nine months to September 2013 fell to RM437.8 million, from RM584.1 million in the previous corresponding period.

Bumi Armada Bhd
 announced it anticipates its oil production in 2016 or 2017 after making its first foray into the North Sea.

In a statement to the stock exchange, the offshore oil field services provider said via its wholly owned unit Bumi Armada UK Limited it has received a Letter of Interim Agreement (LOIA).

The LOIA stipulates the intention to award a contract for the supply and operations of a floating production, storage and offloading vessel (FPSO) to Bumi Armada UK to operate in the Kraken field (UKCS Block 9/02b) in the UK sector of the North Sea.

“We expect the heavy oil production technology applied in the Kraken FPSO will unlock similar heavy oil reserves in the North Sea and other parts of the world,” said Bumi Armada CEO Hassan Basma.

“The North Sea contains significant reserves that have yet to be developed.”

Hassan remarked that the Kraken is one of the largest current development projects in the UK North Sea with an anticipated production life of up to 25 years.

RCE Capital Bhd’s profit for the second quarter ended Sept 30, 2013 (2Q13) fell to RM10.4 million, from RM15.5 million in the same period last year.

Revenue slumped to RM32.3 million, from RM44.7 million in similar quarter in previous year.

For the six months to September, the group recorded a loss of RM17.4 million compared with a net profit of RM28.8 million in the same corresponding period last year. Revenue fell to RM70.6 million from RM92.7 million last year.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum