March 27- Stocks To Watch Symphony, Gamuda, Key West, Hup Seng, Kawan

by **Cals** Thu 27 Mar 2014, 08:28

Stocks To Watch Symphony, Gamuda, Key West, Hup Seng, Kawan

Business & Markets 2014

Written by Chong Jin Hun of theedgemalaysia.com

Wednesday, 26 March 2014 19:01

KUALA LUMPUR (Mar 26): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (March 27) may include the following companies :

Ranhill Energy and Resources Bhd has proposed a reverse take-over (RTO) of business process outsourcing entity Symphony House Bhd.

The RTO will see Symphony buying the entire stake in Ranhill Group Sdn Bhd as well as subsidiaries of Ranhill Energy. Symphony will issue new shares at RM1.50 each as payment to Ranhill Energy.

Trading of Symphony shares was suspended from last Monday till 5pm today. Trading of the stock resumes tomorrow.

Construction firm Gamuda Bhd will announce tomorrow its financials for the second quarter ended January 31, 2014.

Affin Investment Bank Bhd analyst Ong Keng Wee wrote in a note today that Gamuda's core net profit might come in at around RM166 million which was recorded in the first quarter.

"We continue to like Gamuda for its good order book visibility, bulging property GDV and income as well as steady concession profits and potential monetisation of its concession assets.

"We maintain our BUY call with an unchanged target price of RM5.43 based on 16x CY14E EPS of 33.9 sen,"Ong said.

Practice Note 17 firm Key West Global Telecommunications Bhd may be closely watched after its shareholders approved the company's regularisation plan.

Bursa Malaysia had in December last year consented to Key West's corporate exercise to rejuvenate its financials.

Food-based Hup Seng Industries Bhd and Kawan Food Bhd may attract market interest as shares of both firms trade ex-dividend tomorrow.

Hup Seng plans to pay total dividends of eight sen a share. These comprise an interim dividend of five sen and a special payout of three sen.

Meanwhile, Kawan intends to reward shareholders with total dividends of 5.4 sen a share comprising interim and special payouts of 1.8 sen and 3.6 sen respectively.

At Hup Seng, investors may continue to eye its proposed share split and bonus issue.

Hup Seng is splitting one share with a par value of 50 sen into five units of 10 sen each. The firm is rewarding shareholders with one bonus share for every three existing shares held. The ex date for the share split and bonus issue falls on next Wednesday (April 2).