Stocks to watch: I-Bhd, Kanger, Crest Builder, Westports and BHIC worth a look

Stocks to watch: I-Bhd, Kanger, Crest Builder, Westports and BHIC worth a look
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Monday, 23 December 2013 09:43

KUALA LUMPUR: Based on Bursa Malaysia announcements and news flow last Friday, the following stocks could be worth watching out for.

Property developer I-Bhd has proposed several corporate exercises, including a bonus issue of new shares on the basis of one bonus unit for every five existing shares held.

“The proposed bonus issue is intended to be implemented after the proposed share split and the proposed rights issue with warrants, on an entitlement date to be announced later,” I-Bhd said.

Kanger International Bhd will be listed on Bursa Malaysia’s ACE Market today. The bamboo-flooring manufacturer’s initial public offering (IPO) was intended to raise RM20 million. According to the company, its IPO involves the sale of 80 million new shares at 25 sen each.

Crest Builder Holdings Bhd will undertake a planned RM1 billion mixed-use property development at the Kelana Jaya LRT station. The project will be modelled after Plaza Pantai at the Kerinchi LRT station.

Crest Builder executive director Eric Yong (pic) told theedgemalaysia.com over the phone last Friday that the company is undertaking the project via a joint venture with the land owner, Syarikat Prasarana Negara Bhd.

Yong said the proposed development will “house” the Kelana Jaya LRT station.

Westports Holdings Bhd said the Port Klang Authority (PKA) has approved its request for more time to complete the land reclamation and incidental works at the Westports marine terminal.

According to Westports, which owns the concession for the marine terminal in Klang, Selangor, the six-month extension is from Jan 1 to June 30, 2014.

The timely completion of the land reclamation and incidental works is a requirement for the extension of Westports’ existing concession. The government and PKA have agreed to extend Westports’ concession for another 30 years to Aug 31, 2054.

Boustead Heavy Industries Corp Bhd (BHIC) has won a contract to manufacture and supply Airbus A400M mission systems, spares and logistics. BHIC said it entered into the contract with Cassidian Airborne Solutions GmbH last Wednesday. Cassidian is a joint venture between Rheinmetall AG and EADS NV.

BHIC secured the contract via its subsidiary Contraves Advanced Devices Sdn Bhd. Contraves is jointly owned by BHIC and Rheinmetall Air Defence AG.