Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Monday, 03 June 2013 19:09
KUALA LUMPUR (June 3): Based on news flow and Bursa Malaysia announcements today, stocks to watch tomorrow (June 4) may include the following companies :
Freight Management Holdings Bhd and Scomi Energy Services Bhd have set up a joint venture to acquire, own and operate marine vessels.
The vessels will be leased to clients in the oil and gas (O&G) industry across Southeast Asia, according to Freight Management which offers logistics services.
TH Heavy Engineering Bhd has indicated that the O&G support-services firm has bid for over RM2 billion worth of jobs.
Bernama reported today that TH Heavy, formerly known as RAMUNIA HOLDINGS BHD [], is cautiously optimistic of its outlook as the company waits the outcome of tenders worth more than RM2 billion.
Managing director and chief executive officer Nor Badli Mohd Alias said the company has teamed up with McDermott International Inc to bid for RM1 billion worth of engineering, procurement, CONSTRUCTION [], installation and commissioning contract.
Cigarette manufacturers BRITISH AMERICAN TOBACCO (M) [] Bhd and JT INTERNATIONAL BHD [] may continue to attract market interest. This comes on news that BAT has raised prices by 30 sen or 3% for a pack of cigarettes.
BAT managing director Datuk William Toh said the move is deemed crucial to mitigate the impact of inflation, rising labour and input cost, besides contraband cigarette trade.
Petron Malaysia Refining & Marketing Bhd and NOTION VTEC BHD [] may be closely watched as both firms trade ex-dividend tomorrow (June 4).
Petron which undertakes downstream O&G operations plans to pay a final dividend of 14 sen a share less 25% income tax for financial year ended December 31, 2012.
Meanwhile, Notion, a hard-disk drive component manufacturer, plans to reward shareholders with a share dividend on the basis of 32 treasury shares for every 1,000 shares held.
Both Petron and Notion will pay the dividends on June 20 this year.