March 5th - Stocks To Watch UMWOG, MAA, IOI Corp, KLK, BAT

by **Cals** Tue 04 Mar 2014, 19:57

Stocks To Watch UMWOG, MAA, IOI Corp, KLK, BAT

Business & Markets 2014

Written by Chong Jin Hun of theedgemalaysia.com

Tuesday, 04 March 2014 19:02

KUALA LUMPUR (Mar 4): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (March 5) may include the following companies.

UMW Oil & Gas Corp Bhd has secured an estimated RM148 million support-services contract from Petronas Carigali Sdn Bhd.

UMW Oil & Gas said the contract involved the provision of a hydraulic workover unit rig, portable crane, and an accommodation work barge. The two-year deal has an optional one-year extension.

MAA Group Bhd plans to pay an interim single-tier gross dividend of three sen a share for financial year ending December 31, 2014, payable on 18 April 2014 to depositors registered as at 20 March 2014, it informs the exchange today.

Meanwhile, oil palm plantation firms like IOI Corp Bhd and Kuala Lumpur Kepong Bhd may attract investors' attention. This is in anticipation of higher crude palm oil (CPO) prices.

Reuters reported that Malaysian palm oil futures were trading near 17-month highs as lower production expectations due to dry weather conditions were offset by weaker comparative vegetable oils.

By the midday break, the benchmark May contract on the Bursa Malaysia Derivatives Exchange climbed 0.3 percent to 2,813 ringgit ($860) per tonne. On Monday, prices hit 2,860 ringgit, their highest since Sept. 20, 2012.

British American Tobacco (M) Bhd (BAT) and education entity Prestariang Bhd may be closely watched as both stocks will trade ex-dividend tomorrow.

BAT plans to pay its fourth interim tax-free dividend of 78 sen a share. The dividend is for financial year ended December 31, 2013.

Prestariang intends to reward shareholders with an interim single-tier dividend of three sen a share.