April 8th - Stocks To Watch Puncak, Gamuda, plantations, construction stocks, Sime, MMC, Boustead, Digistar, Lii Hen

by **Cals** Mon 07 Apr 2014, 22:48

Stocks To Watch Puncak, Gamuda, plantations, construction stocks, Sime, MMC, Boustead, Digistar, Lii Hen

Business & Markets 2014

Written by Ho Wah Foon of theedgemalaysia.com

Monday, 07 April 2014 19:13

KUALA LUMPUR (April 7): Based on news flow and corporate announcements up to 7.00 pm today, the companies that are likely to attract interest tomorrow could include the following:

Puncak Niaga Holdings Bhd, Gamuda Bhd and other water-related stocks could be in focus again after the Federal Government said it had decided last Friday to invoke Section 114 of the Water Services Industry Act 2006 (WaSIA) to assume control of all four water concession companies and a water licensee in Selangor.

Energy, Green Technology and Water Minister Datuk Seri Panglima Dr. Maximus Ongkili said in a press statement late today this decision was made to “ensure the security and sustainability of water supply” to the people of Selangor, Kuala Lumpur and Putrajaya.

It said the Federal Government “does not wish to allow” the protracted negotiation on the restructuring of the water industry between the Selangor Government and the concessionaires.

In a separate statement, Selangor government said the Federal Government has requested the state to speed up the approval for Langat 2 Water Treatment Plant and other projects.

Plantation stocks may attract limelight again after Bloomberg’s poll show that palm oil stockpiles in Malaysia probably declined for a third month in March, falling to the lowest level in three years.

Inventories fell 3.6 percent from a month earlier to 1.6 million metric tons, the lowest since February 2011, according to the median of six estimates from plantation companies, analysts and traders.

Output climbed 11 percent to 1.42 million tons, recovering from the lowest level in 22 months, while exports decreased 3 percent to 1.31 million tons, the least since July 2012, the survey showed.

Infrastructure and construction companies may be given a boost after Malaysia and Singapore prime ministers reiterated today that the proposed High-Speed Rail Link between the republic and Kuala Lumpur will be completed as scheduled in 2020.

Prime Minister Datuk Seri Najib Tun Razak said both governments were mindful of the fact that the project was ambitious and both governments were working hard towards meeting the deadline, Bernama reported.

Najib said the first phase of the joint engineering study to develop possible alignment for the project and the proposal for the proposed Rail Transit System (RTS) connecting Singapore and Johor Bahru was completed.

"We have 27 possible options to make RTS the most efficient and effective transport system that will benefit both nations," he added.

He said Malaysia would be making the decision “fairly soon” on the RTS location in Johor Bahru.

Sime Darby Berhad said it has agreed to sell its Malaysian power business under Port Dickson Power Berhad (PDP) to Malakoff Corporation Berhad, controlled by Malaysian Mining Corporation Bhd, for RM300 million cash.

"The disposal is in line with the group’s long term strategy to be a leader in its main businesses of plantations, industrial equipment, motors, property and energy and utilities," said Sime Darby.

Sime Darby said it will use the proceeds to strengthen its existing businesses.

PDP has a total capacity of 440 megawatts (MW). The gas-fired power plant supplies electric power to Tenaga Nasional Berhad under a 21-year power purchase agreement expiring in January 2016.

Boustead Holdings Bhd expects to raise up to RM1 billion by mid-June via the proposed listing of its wholly-owned subsidiary, Boustead Plantations Bhd, said Deputy Chairman/Group Managing Director Tan Sri Lodin Wok Kamaruddin.

The conglomerate today received shareholders' approval for the proposed listing at an extraordinary general meeting (EGM), Bernama reported.

Upon listing, the total enlarged and paid-up share capital of Boustead Plantations will be RM800 million comprising of 1.6 billion shares.

The listing comprises the sale of up to 76 million offer shares and a public issue of 580,000,000 shares to be issued to retail and institutional investors.

"I believe the listing will benefit shareholders. The timing is also quite right for us as the price of crude palm oil continues to improve," he said after the EGM.

Digistar Corporation Berhad announced that its wholly-owned unit, Digistar Holdings Sdn Bhd, had secured a purchase order from Iskandar Malaysia Studios Sdn Bhd (IMSSB) to supply equipment for post-production facilities for RM22.3 million at Pinewood Iskandar Malaysia Studios, Johor.

This purchase order is not recurring or renewable and the delivery period is for 5 months, but it will have a positive effect on Digistar’s net asset and earnings for the financial year ending 30 September 2014.

Lii Hen Industries Bhd, furniture maker, resumed its operations today on rented premises after its furniture factory operated by its wholly-owned subsidiary in Muar, Johor caught fire last week.

The firm said its wholly-owned unit Lii Hen Furniture Sdn Bhd (LHF) has rented premises that will cover about 70% to 80% of capacity. The remainder 20%-30% capacity will be outsourced to sub-contractors.

Lii Hen said it rented a production plant in Bukit Pasir Industrial Estate from its other subsidiary, Favourite Design Sdn Bhd (FDSB), which has shifted its main operations elsewhere.

Last week, the fire caused major damages to Lii Hen’s factory building, machinery, conveyor system, spraying plant and inventories of semi-finished products. But, the group’s corporate office was intact.

by **phoenix777** Tue 08 Apr 2014, 11:19

symphany continued spiking to 285 as mention :D :D
mpay oso up
talam oso buy q
nt bad 3/3

Angel

as for knm 85 become resistance

April 8th - Stocks To Watch Puncak, Gamuda, plantations, construction stocks, Sime, MMC, Boustead, Digistar, Lii Hen

April 8th - Stocks To Watch Puncak, Gamuda, plantations, construction stocks, Sime, MMC, Boustead, Digistar, Lii Hen

Re: April 8th - Stocks To Watch Puncak, Gamuda, plantations, construction stocks, Sime, MMC, Boustead, Digistar, Lii Hen