July 7th- Stocks to Watch N2N, Oriented Media, Inari Amertron, Rev Asia, Fajarbaru

by **Cals** Mon 07 Jul 2014, 01:53

Stocks to Watch N2N, Oriented Media, Inari Amertron, Rev Asia, Fajarbaru

Business & Markets 2014

Written by Jonathan Gan of theedgemalaysia.com

Friday, 04 July 2014 20:06

KUALA LUMPUR (June 4): Based on corporate news today, the stocks in focus next week could include N2N Connect Bhd, Oriented Media Group Bhd, Inari Amerton, Rev Asia Bhd and Fajarbaru Builder Group Bhd.

N2N Connect Bhd has roped in Japan’s financial media giant, Nikkei Inc, as an indirect substantial shareholder.

A filing to Bursa Malaysia today unveiled that Nikkei, through its unit QUICK Corp, has taken up some 61 million shares or 14% stake in N2N, at 89 sen each, via a placement exercise. The value of the transaction was worth RM54 million.

N2N, which provides stock data solutions to financial institutions, rose 1 sen to RM1.03, with a market cap of RM448.88 million.

Inari Amerton Bhd has proposed to undertake a renounceable rights issue of up to 88.83 million new shares, on the basis of 1 rights share, together with one free warrant for every eight existing shares held.

The indicative issue price of the rights shares is at RM1.50 each, while the exercise price of the warrants is at RM2. The final exercise price of the warrants shall be determined by the board at a later date.

Inari shares fell 2 sen to RM3.13, with a market cap of RM1.6 billion.

Oriented Media Group Bhd saw the emergence of two new substantial shareholders from China, today.

In a filing to Bursa Malaysia today, the company said that SureBright Investment Development Ltd and New Features Global Investments Ltd, both from Fujian, China, had each taken up 17.79 million shares or 8.33% stake in the company, at 15 sen per share, through a private placement exercise.

Oriented Media provides logistical software to marine port authorities and digital media content. It has been in the red, with net loss of RM1.03 million for the nine-month ended March 31, 2014, on revenue of RM830,000.

Its share price remained unchanged today at 16 sen, with a market cap of RM33.09 million.

Rev Asia Bhd, formerly known as Catcha Media Bhd, announced that its unit, Rev Asia Holdings Sdn Bhd, has inked an exclusive sales representation agreement with HCK Media Sdn Bhd, to resell and operate all advertising inventory across HCK Media’s digital assets.

“As part of Rev Asia Holdings continuous plans to expand and dominate the news vertical segment, we’re excited to have sealed this partnership with HCK Media,” said Voon Tze Khay, managing director of Rev Asia Holdings.

The online media group has formally changed its name to Rev Asia, from Catcha Media, after seeking approval from both the Companies Commission of Malaysia on June 17,2014.

Today, Rev Asia rose 1 sen to RM1.12 per share, with a market cap of RM144.06 million.

The company has returned to black in the first quarter ended March 31, 2014, with a net profit of RM2.49 million, compared to a loss of RM2.91 million in the previous corresponding period.

Fajarbaru Builder Group Bhd announced that it has clinched a deal to undertake the sale and extraction of timber, from an area covering 1,423 acres in Hutan Simpan Berkelah, Jerantut, Pahang.

The firm said that its 51%-owned unit, Billion Variety Sdn Bhd, would pay RM6 million to Cekal Kasih Sdn Bhd, to extract timber from the area, for a period of 12 months.

Cekal Kasih was awarded the timber concession by Yayasan Pahang.

Fajarbaru Builder remained unchanged at 58.5, with a market cap of RM128.27 million.

The group has seen its earnings dwindled to RM2.49 million in the nine-month ended March 31, 2014, from a net profit of RM2.91 million in the previous corresponding period. Revenue for the period had nevertheless increased to RM214.1 million, from RM138.8 million previously.