Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Friday, 22 March 2013 20:34
KUALA LUMPUR (March 22): Based on corporate announcements to Bursa Malaysia, stocks that may stir trading interest on Monday (March 25) could include Muhibbah Engineering, PJI Holdings, China Stationery, Berjaya Media and IHH Healthcare.
Muhibbah Engineering Bhd announced that Muhibbah-SV-Samjung Joint Venture, a joint venture led by Muhibbah, has been awarded a contract by Mass Rapid Transit Corporation Sdn Bhd for the design, supply, installation of noise barriers and enclosures (Package V1 to V8) for about RM202 million.
The project work is scheduled to commence in the second quarter of 2013 and is expected to be completed by second quarter of 2016.
The company said the project is expected to contribute positively to the earnings and net assets of Muhibbah group for the current and future financial years.
PJI HOLDINGS BHD [] announced that ADP-PJI JV and PNSB have reached an amicable settlement in respect of a final award received on 31 January 2013 arising from an arbitration proceedings against PNSB by ADP-PJI JV claiming a total sum of RM10.08 for the CONSTRUCTION [] work carried out on a water treatment plant project.
The parties have mutually agreed for PNSB to pay ADP-PJI JV the sum of RM10.1 as the full and final settlement sum, which includes interests and costs arising from the final award, the company said.
PJI’s entitlement from the final settlement sum is some RM3.93 million.
This sum is substantial when compared with the net profit RM202,000 posted by PJI for the second quarter to end-December 2012.
China Stationery Ltd announced that its controlling shareholder Chan Fung or Kwan Wing Yin had on March 21 unloaded 50 million shares at 60 sen per unit.
The shares sold represented 4.02% of the company’s issued shares. As a result of the disposal, Chan is now left with 793 million shares or 59.78% stake in China Stationery.
The stock closed at 46.5 sen per unit on Friday (March 22).
BERJAYA MEDIA BHD [] said for its third quarter ended 31 January 2013 under review, the group reported a revenue of RM14.41 million and pre-tax loss of RM6.19 million as compared to the revenue of RM12.70 million and pre-tax profit of RM0.96 million in the preceding year's corresponding quarter.
The increase in revenue for the quarter under review was mainly due to higher advertising income recorded by its principal operating subsidiary, Sun Media Corporation Sdn Bhd, and this has resulted in a profit for the quarter.
But the impairment losses of certain quoted investments (amounting to RM5.67 million) and publishing rights (amounting to RM1.0 million) has resulted in a consolidated pre-tax loss.
“The Directors are of the view that the Group's business for the remaining quarter of the financial year ending 30 April 2013 will continue to be challenging,” said Berjaya Media.
IHH Healthcare Bhd reported that the The EPF (Employees Provident Fund) had bought 4 million shares from the market on March 19, following its purpose of 1.5 million on March 18 and 1.55 million on March 15.
The stock rose from RM3.39 on March 19 to RM3.50 on March 22.