Stocks to watch: Minetech teams up with Sany and Top-Mech

by **Cals** Mon 17 Feb 2014, 18:45

Business & Markets 2014

Written by Ho Wah Foon of theedgemalaysia.com

Monday, 17 February 2014 10:21

KUALA LUMPUR: Based on news flow and corporate announcements up to 7.30pm last Friday, the following companies might attract some interest today:

Minetech Resources Bhd has signed a memorandum of understanding (MoU) with China’s Sany group and Malaysia’s Top-Mech Provincial Sdn Bhd to jointly explore business opportunities.

Quarry operator Minetech said the MoU precedes a planned definitive agreement. They intend to form “win-win” partnerships and jointly pursue projects.

According to Minetech’s statement, Sany is a heavy equipment and machinery manufacturer. Top-Mech, which is involved in the crane business, is also a dealer for certain Sany products.

Ornapaper Bhd said it was “not aware” of any corporate development which might have led to the rise in its share price. This includes rumours that the company is a takeover target.

Share price of the paper-based packaging products manufacturer, which had shot up from just 82 sen early this month, fell 6 sen to RM1.29 at close.

LBS Bina Group Bhd said it will develop land in Iskandar Malaysia into a mixed development with a gross development value of about RM2 billion.

The mixed development project consists of 2,700 units of residential and commercial property, spanning an estimated period of eight years.

In a statement to Bursa Malaysia, the property developer also said it had acquired two pieces of 99-year leasehold land in Bandar Johor Baru, Johor from the Employees Provident Fund (EPF).

LBS Bina said it had last Friday, via its indirect wholly-owned subsidiary Sinaran Restu Sdn Bhd, entered into two sale and purchase agreements with the EPF for a total cash consideration of RM72 million.

LBS was down one sen at RM1.51 at market close.

PDZ Holdings Bhd clarified it has not put in any proposal to acquire shares of Efogen Sdn Bhd, following a news report last Friday.

The stock rose one sen to 15.5 sen at close. Since early January, the stock price has been climbing from eight sen.

GHL Systems Bhd has signed a MoU with PT Peruri Digital Security to explore and collaborate, within one year from the date of signing, the development and promotion of payment related businesses in Indonesia.

PT Peruri Digital Security is a 100% subsidiary of Perusahaan Umum Percetakan Uang Republik Indonesia. The Peruri Group is 100% owned by the Indonesian government and it is the authorised printer of the Indonesian rupiah and other security printing services such as stamps, passports and others.

The Indonesian market with 248 million people holds great potential for e-payments, said GHL.

Puncak Niaga Holdings Bhd said its wholly-owned subsidiary, Puncak Niaga (M) Sdn Bhd, had last Friday won a tender by the Sewerage Services Department of the Energy, Green Technology and Water Ministry, for a project package worth about RM394 million.

The project, Package D44, involves the construction of sewer pipe networks at Bunus, Kuala Lumpur.

It is for 48 months and ends on Feb 24, 2018.

The company said this is expected to have positive impact on its financial year ending Dec 31, 2014.

This article first appeared in The Edge Financial Daily, on February 17, 2014.