0047 GMT [Dow Jones] Pelikan (5231.KU) may rise to MYR1.48 (30-day moving average) on trade resumption today vs Friday's close at MYR1.41; company's plan to buy 66% stake in German stationery, paper maker Herlitz (HEZ.XE) for EUR45 million cash from current shareholder Stationery Products seen as positive on topline and bottomline, says dealer. Notes The Edge Financial Daily report, citing Pelikan CEO Loo Hooi Keat as saying, deal will enable company to achieve revenue target of MYR5.0 billion, cost savings of MYR100 million due to synergies. Dealer says planned buy will allow Pelikan to access new markets, to increase range of products and streamline European logistic operations. "Pelikan's strength in school products complements Herlitz's focus on office stationery and papeterie." (ECH)
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