Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Monday, 29 July 2013 19:20
KUALA LUMPUR (July 29): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (July 30) may include the following companies :
Major shareholders and directors of ASAS DUNIA BHD [] plan to acquire the remaining shares they do not own in the property developer at RM1.70 each.
The buyers who already owned 41.13% in Asas Dunia, intend to delist the firm from Bursa Malaysia.
Bottled-water producer SPRITZER BHD [] more than doubled its net profit for the fourth quarter ended May 31, 2013 (4QFY13) from the same period last year. The company attributed the net profit rise to higher sales volume and reduction in prices of polyethylene terephthalate resin, a component in water bottles.
Spritzer said net profit for 4QFY13 came to RM5.95 million on revenue of RM50.49 million. The net profit was 194.94% higher than the previous corresponding period’s RM2.02 million on revenue of RM46.68 million.
The firm had declared an interim tax-exempt dividend of four sen per share for 4QFY13.
For the full year, Spritzer’s net profit grew 81.68% to RM19.23 million or 14.69 sen per share. It made RM10.59 million or 8.1 sen in the previous financial year. Its revenue of RM201.94 million was 13.31% higher than the previous year’s RM178.21 million.
Furniture manufacturer Homeritz Corp Bhd today reported a 5% rise in net profit to RM3.13 million in the third quarter ended May 31, 2013 from RM2.98 million a year earlier. Revenue rose to RM28.39 million from 23.12 million.
The firm plan to pay its first interim tax-free dividend of one sen a share for the quarter in review. Homeritz shares will trade ex-dividend this August 28 while the payment date falls on September 27.
Sona Petroleum Bhd, a special purpose acquisition company, will be listed on the Main Market of Bursa Malaysia tomorrow.
Sona’s initial public offering (IPO) involved the sale of 1.1 billion new shares with an equal number of free-detachable warrants.
Under the IPO, one warrant is attached to one share. The combined entity is price at 50 sen each.
Oil palm PLANTATION [] firm KIM LOONG RESOURCES BHD [] plans to expand its landbank in Sarawak, executive chairman, Gooi Seong Lim said after the firm’s annual general meeting today.
"We are looking to expand our upstream business by expanding our landbank," Gooi said. Kim Loong currently has over 40,000 acres (16,000ha) of plantation tracts.