July 4th- Stocks To Watch Goldis, FFB, Astro, MAHB, Handal, IJM, CBIP.

by **Cals** Thu 04 Jul 2013, 02:10

Stocks To Watch Goldis, FFB, Astro, MAHB, Handal, IJM, CBIP.
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Wednesday, 03 July 2013 19:27

KUALA LUMPUR (July 3): Based on news flow and corporate announcements today, stocks that may attract attention tomorrow could include Goldis, FFB, Astro, MAHB, Handal, IJM and CBIP.

GOLDIS BHD [] today declared a distribution of three treasury shares for every 100 existing shares held by shareholders.

It said the book closure date for the share dividend is July 18, 2013, and ex-date is July 16.

Referring to an announcement on May 8 2013, Goldis said in another filing it has abandoned the proposal to distribute Goldis’ equity interest in IGB CORPORATION BHD [] for shareholders’ approval.

“The board has arrived at this decision after taking into consideration the negative feedback from shareholders of Goldis on the proposed distribution,” said Goldis.

FAVELLE FAVCO BHD []’s (FFB) subsidiaries have secured orders for supply of offshore cranes, with the contracts having a total value of RM61.5 million.

The company said its subsidiary Favelle Favco Cranes Pte Ltd had received a contract from DP Offshore Engineering Pte Ltd for the supply of offshore crane. The contract is expected to be delivered from end-2014 to early 2015.

Another FFB subsidiary, Favelle Favco Cranes (M) Sdn Bhd had received orders from Essar Projects (India) Ltd and Cosco (Guangdong) Shipyard Co Ltd. The contracts are expected to be delivered by the first and third quarter of 2014, respectively.

FFB said it expects the contracts to contribute positively to its earnings and net assets for the financial year ending December 31, 2013 and beyond.

Astro Malaysia Holdings Bhd is planning to add 18 new transponders in the next three years to double their high-definition (HD) channels and raise revenue.

“We have 37 HD channels and we want to double this in the next couple of years in order to add value and encourage our customers to take up our HD services, which will in turn contribute to the group's topline," Astro's CEO Datuk Rohana Rozhan told reporters after the group's AGM today.

"We are currently operating on 18 transponders and we expect the additional 18 transponders to be delivered in three phases stating from next year," she said.

MALAYSIA AIRPORT HOLDINGS BHD [] (MAHB), a government-linked company, is in the limelight again after Tony Pua, DAP’s national publicity secretary, urged acting Transportation Minister Datuk Seri Hishamuddin Hussein to set up an independent committee to probe the delays in the completion of klia2.

At a press conference in Parliament, Pua said the Transport Ministry has to be responsible towards “the klia2 scandal” in view of the fact that its secretary general Datuk Long See Wool sits on the board of directors of Malaysia Airports Holdings Bhd (MPHB).

Pua was unhappy with Hishamuddin’s written reply to his questions filed in Parliament regarding the klia2 project.

The written reply from the Minister read that MAHB would not suffer losses because there would be no impact on its business and profitability and also that the delay would not affect MAHB’s operations.

“If the CONSTRUCTION [] cost increases due to the delay, how would this not affect MAHB’s earnings... I must stress that the Minister has not given the assurance that the cost would not go beyond RM4 billion,” said Pua.

Handal Resources Bhd is partnering with an Australian oil and gas (O&G) company in its bid to get the lucrative risk service contracts (RSC) from state-owned Petroliam Nasional Bhd (Petronas).

In a filing with Bursa Malaysia, Handal Resources said it had signed a collaboration agreement with Australian-listed MEO Australia Ltd. to consolidate each party’s expertise in the area of marginal oil and gas field development to pursue a RSC agreement with Petronas.

Petronas has allocated RM300 billion for its capital expenditure from 2011 to 2015.

Handal Resources explained the collaboration is set to tap into MEO’s available expertise and to enhance its business opportunities in the related O&G ventures.

IJM CORPORATION BHD [], the operator of Kuantan Port, will invest about RM2 billion to build a new deep water terminal for the berthing of vessels of up to 200,000 deadweight tonnage, Bernama reported.

IJM Chief Executive Officer and Managing Director, Datuk Teh Kean Ming said construction of the new terminal is expected to commence in the first quarter of next year, with a 24-month completion period.

Once ready, the new terminal will be able to handle 52 million freight tonnes of cargo, from current 26 million.

"We are currently looking at the final design plan. Once our Chinese partner, Guangxi Beibu Gulf International Port Group Co Ltd, comes on board in October this year, we can decide on further specifications.

"The proceeds from IJM's 40 per cent stake disposal in Kuantan Port to Guangxi will be used to fund the construction, together with a portion of internal funding," Teh told Bernama.

The construction works will be mainly undertaken by IJM. The expansion of Kuantan Port is part of the Malaysia-China Kuantan Industrial Park (MCKIP), in which Guangxi will invest more than RM7 billion directly or via joint ventures with Malaysian companies.

CB INDUSTRIAL PRODUCT HOLDING [] Bhd (CBIP) announced its unit has secured a contract to build a palm oil mill for RM40.5million in Kunak, Sabah.

It said Modipalm Engineering Sdn Bhd has been awarded by Kemabong Sdn Bhd to build the continuous sterilisation palm oil mill project for its Sepang Palm Oil Mill in Kunak.

The award is expected to contribute positively to the earnings of CBIP for the financial years ending Dec 31, 2013 and 2014.