Stocks to watch:* Mah Sing, Malaysia Pacific Corp, Adventa, BLand

KUALA LUMPUR (March 26): Malaysian stocks may continue to find support from local institutional investors on Tuesday as pre-election sentiment dominate the domestic backdrop against global economic growth concerns
Analysts said there are growing concerns on the sustainability of major economies including the the US and China, sentiment from which, have the ability to influence the direction of financial markets.
“Technically, the current rising wedge (in the FBM KLCI) already implies bearish connotations and will be confirmed upon a decisive breakout,” TA Securities Holdings Bhd said on Monday.
The research house said while the KLCI could advance, downside risk to the stock market barometer is on the rise.
The 30-stock KLCI erased its earlier gains to finish at 1,582.98, down 0.18% or 2.85 points on Monday
Stocks worth noting on Tuesday are Mah Sing Group Bhd, Malaysia Pacific Corp Bhd (MPCorp), Adventa Bhd and Berjaya Land Bhd.
Other stocks are Unisem (M) Bhd, Malaysian Pacific Industries Bhd (MPI), Supercomnet Technologies Bhd, Xidelang Holdings Ltd, and CB Industrial Product Holding Bhd.
Mah Sing has proposed a commercial property project in Kota Kinabalu’s central business district with a combined gross development value of RM830 million.
Meanwhile Amanah Raya Development Sdn Bhd is selling its entire 22% syake of Lakehill Resort Development Sdn Bhd to Malaysia Pacific Corp Bhd (MPCorp) for RM100.88 million. MPCorp said Amanah Raya Development had exercised its put option to sell the stake to MPCorp’s unit.
Adventa posted a weaker set of financial results for the first quarter ended Jan 31, 2012 with net profit falling 33% to RM2.71 million from RM4.05 million as it was impacted by margin squeeze, foreign exchange loss and higher finance cost.
Its revenue slipped 2.2% to RM103.81 million from RM106.19 million while earnings per share were 1.77 sen compared with 2.65 sen.
CIMB Equities Research has upgraded Unisem from “underperform” to “outperform” and raised its fair value by 87% from RM1 to RM1.87. CIMB has also increased its FY12 to FY14 earnings forecasts for the semiconductor manufacturer by 7% to 19%
It also upgraded MPI, also a semiconductor entity, from “underperform” to “outperform” and raised its target price for the stock from RM2.79 to RM4.08, up 46%.
Berjaya Land's net profit fell 93% to RM2.52 million in the third quarter ended Jan 31, 2012 from RM34.91 million a year ago, as lower real estate sales offset higher income from its gaming and hospitality operations. Its total group revenue rose 13% to RM1.12 billion from RM990.6 million.
Bursa Malaysia has queried wire and cable manufacturer Supercomnet on the unusual trading patterns of its shares. The stock rose as much as 93% or 28 sen to an intraday high of 58 sen on Monday before closing lower at 49.5 sen. Some 41 million shares were transacted, putting the stock among the most active and top gainers.
Xidelang shares will go ex-dividend on Tuesday. The shoe manufacturer had last January proposed a bonus share issue which is undertaken concurrently with a private placement of new shares and renounceable rights issue of warrants.
CBIP, has clinched a RM44.67 million job to build a 45 tonne per hour palm oil mill from Syarikat Ladang Sungai Terah Sdn Bhd, a wholly-owned subsidiary of Kumpulan Perladangan PKINK Bhd.