Bet on the wrong reit, hope tomorrow I can sell off my STAR reit.
KANASAI. Next one to bet will be Tower REIT.
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Thursday, 17 January 2013 19:35
KUALA LUMPUR (Jan 17): Based on announcements made to Bursa Malaysia today, stocks to watch on Friday may include Starhill REIT, Kimlun, Patimas, TA Enterprise, Oriental Holdings and IRCB.
Starhill Real Estate Investment Trust (Starhill REIT) reported to the exchange its net profit for its second quarter to end-December 2012 had fallen 67.4% to RM16.81 million from RM51.62 million in the previous corresponding quarter.
But despite this, the company declared an interim income distribution of 3.5873 sen per unit (of which 3.5188 sen is taxable and 0.0685 sen is non-taxable) for the six months ended Dec 31, 2012.
Kimlun Corp Bhd announced that its 100% subsidiary had bagged a CONSTRUCTION  job worth RM87.8 million from Setia Indah Sdn Bhd for the construction of apartments in Johor Baru, with work expected to be completed by January 2015.
"The project is expected to contribute positively to the earnings and net assets of Kimlun group for the financial years during the contract period," it said.
Meanwhile, in a separate announcement, Kimlun’s controlling shareholder and director Pan Tin disclosed that he had bought on the open market 100,000 shares of Kimlun on Jan 16 and another 200,000 on Jan 15. The transaction price for all the shares was at RM1.45 per unit.
PATIMAS COMPUTERS BHD , the most actively traded stock this week, plunged today following Bursa Malaysia’s warning to investors to exercise caution when trading the stock.
At market close, Patimas had fallen four sen or 22% to 14 sen on 298 millon shares done after hitting a high of 20.5 sen before the warning. Patimas shares had risen from 3.5 sen early this month to 18 sen yesterday on intense speculative play.
TA ENTERPRISE BHD  may see trading interest after its major shareholder Datuk Tiah Thee Kian told the exchange he had bought 300,000 shares on the open market at 51.5 sen to 52.5 sen apiece in the last three days, raising his stake to 28.49%.
ORIENTAL HOLDINGS BHD  may attract some interest following the continued purchase of its shares by a foreign fund in the past few days. Aberdeen International Fund Managers Ltd had bought shares in the company from Jan 11 to Jan 15.
There is market talk that the founding family of Oriental Holdings might take the company private. Last year, the Loh family accumulated the stock throughout the year.
Integrated Rubber Corp Bhd (IRCB) may see speculative play again, as the company has announced that its chairman Datuk Hilmi Mohd Noor has resigned. The company was in the limelight recently for loan defaults, the entry of a white knight and a subsequent change of management.