Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Monday, 15 July 2013 19:22
KUALA LUMPUR (July 15): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (July 16) may include the following companies :
ZECON BHD []’s major shareholders are proposing to take the CONSTRUCTION [] firm private via a selective capital reduction and repayment exercise.
According to Zecon, its minority shareholders will receive a total cash payment of RM35.78 million or 80 sen per share under the capital reduction and repayment.
Meanwhile, entitled holders of its 2007/2017 warrants will also receive a cash payment of five sen per warrant. The follows the acceleration of the outstanding warrants' maturity and cancellation of the units.
Scomi Energy Services Bhd has secured a RM158.7 million contract from TENAGA NASIONAL BHD [] to transport coal for the latter's electricity-generation operations.
Scomi Energy said the two-year contract from Tenaga's wholly-owned unit TNB Fuel Services Sdn Bhd starts from September 1 this year. The deal comes with an optional one-year extension.
Bond-rating firm Malaysian Rating Corp Bhd (MARC) has downgraded steel manufacturer KINSTEEL BHD []’s RM100 million Murabahah commercial papers / medium term notes (CP/MTN) and RM100 million Murabahah MTN to MARC-4ID/BB+ID and BB+ID from MARC-3ID/BBBID and BBBID respectively.
MARC said the ratings have been placed on “MARCWatch Negative”
"The rating downgrades and MARCWatch placement reflect MARC’s concern over Kinsteel’s limited liquidity and heightened refinancing risk associated with its upcoming CP/MTN and MTN maturities.
"Refinancing risk has increased as its August CP/MTN and September MTN maturities of RM40 million and RM10 million respectively draw closer," MARC said.
Number-forecast operations entity BERJAYA SPORTS TOTO BHD [] (BJToto) and pay-television firm Astro Malaysia Holdings Bhd will trade ex-dividend tomorrow.
BJToto plans to pay its fourth interim dividend of four sen a share on August 1 this year.
Meanwhile, Astro intends to reward shareholders with a final dividend of one sen a share. The firm plan to pay the dividend this August 2.
1 comments:
It's out of my capacity to use proper words to praise the talented author for this handsome writing. KUALA LUMPUR (July 15): Based on Bursa Malaysia announcements and news flow today expression you delivered was totally informative and rich with some well-valued thoughts. I appreciate this kind of useful efforts. Perhaps, you deserve something more than thanks. Much respect. Again,I would like to tell about the popularity of sports toto. This is getting a arranged in a safety playground and many guys around the world are getting interested in this thrill and opportunity. Here's a site that make the topi more interesting. 메이저토토사이트