Stocks to watch: Water-related stocks in the limelight

by **Cals** Tue 16 Sep 2014, 02:19

Business & Markets 2014

Written by Charlotte Chong of theedgemalaysia.com

Monday, 15 September 2014 10:09

KUALA LUMPUR: Based on news flow and corporate announcements last Friday, the stocks that may be in focus could include the following: Aeon Co (M) Bhd, Globaltec Formation Bhd, IHH Healthcare Bhd, Benalec Holdings Bhd, Melewar Industrial Group Bhd, and water-related stocks.

Department store-cum-supermarket operator Aeon Co (M) Bhd is venturing into the furniture retail market, with the opening of its first home and interior furnishing store in IOI City Mall, Putrajaya, in November.

Meanwhile, Globaltec Formation Bhd has acquired a 49% stake in Empangan Sejati Sdn Bhd in its bid to venture into the hydro-electric generation sector.

Over at IHH Healthcare Bhd, the healthcare group has proposed to fully acquire Singapore-based Radlink-Asia Pte Ltd (Radlink) for S$137 million (RM346.5 million), from Fortis Healthcare Singapore Pte Ltd.RadLink provides healthcare services including outpatient diagnostic and molecular imaging services in Singapore.

Meanwhile, Benalec Holdings Bhd is proposing to issue a seven-year convertible secured bond, with a nominal value of up to RM200 million. Most of the proceeds — about RM146.5 million — will be used for its reclamation works.

Water-related stocks Kumpulan Perangsang Selangor Bhd (KPS), Puncak Niaga Holdings Bhd, Gamuda Bhd, pipemakers Engtex Group Bhd, YLI Holdings Bhd and JAKS Resources Bhd, as well as Langat 2 water treatment plant contractors Salcon Bhd, Ahmad Zaki Resources Bhd and MMC Corp Bhd, could also attract interest today, following the signing of a master agreement last Friday between the Federal and the Selangor state government.

This article first appeared in The Edge Financial Daily, on September 15, 2014.