Jan 2nd - Stocks To Watch Perisai, CMSB, Gamuda, Country Heights, Bina Goodyear, Felda, MSC

by **Cals** Thu 02 Jan 2014, 07:17

Stocks To Watch Perisai, CMSB, Gamuda, Country Heights, Bina Goodyear, Felda, MSC

Business & Markets 2013

Written by Ho Wah Foon of theedgemalaysia.com

Tuesday, 31 December 2013 17:11

KUALA LUMPUR (Dec 31): According to corporate announcements released to Bursa as at 5.00 pm today, the following companies may stir up trading interest on Thursday (Jan 2, 2014).

The market will close tomorrow for the New Year.

Perisai Petroleum Teknologi Bhd will build its third offshore rig for Singapore-listed Sembcorp Marine Ltd. The deal is worth US$211.5 million (RM695 million).

In a statement to Bursa Malaysia today, Perisai said it has signed a rig construction contract with Sembcorp Marine's unit PPL Shipyard Pte Ltd.

"The third rig construction contract is a transaction of a revenue nature in the ordinary course of business of the company. The Perisai Pacific 101 inaugurated Perisai’s entry into the offshore-drilling segment specifically in Malaysia and broadly in the Asia Pacific region.

"The Perisai Pacific 102 broadened Perisai’s asset offerings to its clients and added economies of scale to its drilling operations. The third jack-up drilling rig would enhance such economies of scale and is poised to meet the strengthening global demand for jack-up drilling rigs," Perisai said.

Cahya Mata Sarawak Berhad (CMSB) announced that its wholly owned unit has entered into a joint venture with three parties to build a phosphate complex for RM1.04 billion.

CMSB said Samalaju Industries Sdn Bhd (SISB) has entered into a shareholder’s agreement with Malaysian Phosphate Venture Sdn Bhd (MPVSB), Malaysian Phosphate Additives (Sarawak) Sdn Bhd (MPASSB) and Arif Enigma Sdn Bhd (AESB) for the development of the phosphate plant in Sarawak.

The joint venture company will be owned 40% by SISB.

The complex “will involve an estimated capital expenditure of RM1.04 billion which will be funded via a mixture of shareholders equity and long term bank funded debt”, according to a statement by CMSB.

The plant will be located in Samalaju Industrial Park, within the Sarawak Corridor of Renewable Energy.

According to the statement, the complex will be able to supply an annual production capacity of 500,000mt of phosphate and related products.

Construction is expected to start in 1Q 2014, and to be operational in Q1 2016 and fully commissioned by 2Q 2018.

The phosphate complex will enable Malaysia to reduce imports of phosphate products and to expand the production of “halal” animal feed and fertilisers.”

Gamuda Bhd is still keen to acquire Perbadanan Kemajuan Negeri Selangor's (PKNS) 30% stake in highway concessionaire Kesas Holdings Bhd.

An industry source familiar with the proposed deal said if PKNS, which rejected Gamuda's revised RM420 million offer, is willing to further consider the proposal, the buyer is still keen to acquire the stake from PKNS.

Gamuda, which owns 30% in Kesas, has announced that Amcorp Properties Bhd and Permodalan Nasional Bhd (PNB) have accepted Gamuda's offer to acquire their respective stakes in Kesas.

PKNS has however declined Gamuda's offer. Gamuda has proposed to buy Amcorp and PNB's respective 20% stakes in Kesas for a revised sum of RM280 million each from RM250 million previously.

PKNS' 30% portion is revalued at RM420 million compared to the original offer of RM375 million.

Analysts expect a potential higher stake in Kesas to bode well for Gamuda's financials.

Public Investment Bank Bhd analyst Tan Siang Hing said Gamuda's earnings may increase by up to 6% in financial years ending July 31, 2014 to 2016.

Country Heights Holdings Bhd, a property company that has improved its financials in recent years, rose 26% in morning trades after it became the target of mid-cap play by traders today.

At noon break, the property counter rose 27 sen or 26% to RM1.31 on trades of 20.89 million shares. It was the fifth most active country and third top gainer.

Investment in mid-cap stocks has become “fashionable” in the local market after Prime Minister Datuk Seri Najib Razak urged local institutional funds to buy into well-managed mid-cap companies in mid-2013.

Country Heights, founded by Tan Sri Lee Kim Yew, had a net asset value per share of RM2.82 at end-September 2013, according to its latest results.

After suffering years of embarrassment due to its heavy debts, it is seeing some light at the end of the tunnel. For the third quarter to September 2013, the company posted a net profit of RM1.3 million on revenue of RM49.3 million.

But the main excitement in this company now is that its development in Mines has been selected to be an entry point project under the government’s Economic Transformation Programme to position Malaysia as a wellness landmark for the region.

Bina Goodyear Bhd is confident of getting out of its PN17 status by the end of 2014.

"We are optimistic that we will be able to get back into the black by the end of 2014 or early 2015," said managing director Moo Hean Chong.

He said that Bina Goodyear will submit its regularisation plan, which was approved by shareholders at the AGM held today, in February 2014.

"We well definitely bid for more construction projects in the Klang Valley and Johor as soon as we are in a position to do so," he added

Felda Global Ventures Holdings Berhad (FGV) has undertaken a series of management changes effective January 1, 2014.

The changes will include the appointment of Abdul Halim Ahmad to Executive Vice President, CEO of Felda Global Ventures Plantation Malaysia (FGVPM), Denys Colin Munang as Vice President and Group CEO of Pontian United Plantations Berhad, and Daniel Lee V’nn Ckh’ng as the acting Vice President and Chief Information Officer of FGV.

Mohd Emir Mavani Abdullah, FGV Group President and CEO, said “FGV has embarked on a serious soul searching process with a view to intensify operational efficiencies and improving internal KPI’s.”

“With the new line-up in the revitalized management team, we are confident that our focus on operational improvement, reinforcing high performance and portfolio optimisation will be achieved” he said.

Malaysia Smelting Corporation Bhd (MSC) has announced the appointment of Chua Cheong Yong as group chief executive officer effective Jan 1, 2014.

Chua will take over from Dato’ Seri Dr Mohd Ajib Anuar, who will assume the role of non-independent, non-executive director.

Chua who is currently the deputy CEO, has a total of 30 years’ service in the MSC group and had helmed the international tin smelting operations of MSC group of companies and oversees the day to day commercial, marketing and trading activities of the group, MSC said.

Chua's former portfolio as group chief operating officer (COO), smelting, will be taken over by Raveentiran Krishnan, group senior general manager (smelting).

by gsrajan Thu 02 Jan 2014, 07:43

Good morning BC traders. Today is first trading day for year 2014. I wish every trader will make profit from Brusa.

Best of luck.

Jan 2nd - Stocks To Watch Perisai, CMSB, Gamuda, Country Heights, Bina Goodyear, Felda, MSC

Jan 2nd - Stocks To Watch Perisai, CMSB, Gamuda, Country Heights, Bina Goodyear, Felda, MSC

Re: Jan 2nd - Stocks To Watch Perisai, CMSB, Gamuda, Country Heights, Bina Goodyear, Felda, MSC