Stocks to Watch Alam Maritim, CB Industrial, Protasco, Sunway REIT, rubber glove manufacturers

Business & Markets 2013
Written by Chong Jin Hun of   
Monday, 04 February 2013 19:54

KUALA LUMPUR (Feb 4): Based on Bursa Malaysia announcements on Monday, stocks to watch on Tuesday (February 5) may include ALAM MARITIM RESOURCES BHD [], CB INDUSTRIAL PRODUCT HOLDING [] Bhd, PROTASCO BHD [], Sunway Real Estate Investment Trust (Sunway REIT) and rubber glove manufacturers.

Petronas Carigali Sdn Bhd has extended its work boat-lease contract with Alam Maritim Resources Bhd in a deal valued at approximately RM70.8 million.

Alam Maritim said the contract is for the provision of two work boats to support Petronas' painting activities under the national oil firm's upstream operations in Peninsular Malaysia.

Alam Maritim had in May 2012 secured an estimated RM121.54 million contract from Petronas Carigali to supply four work boats for the latter’s exploration activities. The contract had commenced on May 25, 2012.

CBIP has secured an RM18 million project to build an RM18 million palm oil mill for Felda Palm Industries Sdn Bhd in Bentong, Pahang.

According to CBIP,  its wholly-owned unit Modipalm Engineering Sdn Bhd has received the offer-acceptance letters dated December 31, 2012 from Felda Palm.

CBIP said the project is expected to "contribute positively" to the earnings of group for current financial year ending December 31, 2013

Meanwhile, Protasco said  the builder is expected to raise RM23 million from the first tranche of its private placement of 20.83 million new shares at RM1.10 each.

Protasco had said on January 4 this year that it planned to place out up to 29.67 million new shares or 10% of the firm's issued share base. Proceeds from the exercise which had obtained shareholders' consent, will finance the company's business expansion and capital needs.

Sunway REIT will be closely watched after the company said trading of the stock will be suspended from 9am on Tuesday pending an announcement.

Investors may also follow closely rubber glove manufacturers such Top Glove Corp Bhd and HARTALEGA HOLDINGS BHD [] after the shares of both firm's closed among top gainers on Monday. This came amid news reports on the influenza epidemic in the US,  prompting anticipation of higher demand for gloves.

News reports in the US quoting data from the Centers for Disease Control and Prevention, indicates that the prevalence of influenza in the country during the current winter season has so far killed 45 children.