Stocks To Watch Focal Aims, FCW, NCB, Cahya Mata, KLCI stocks

Business & Markets 2013
Written by Chong Jin Hun of   
Tuesday, 17 September 2013 18:43

KUALA LUMPUR (Sept 17): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (September 18) may include the following companies:

Eco World Development Holdings Sdn Bhd is buying a controlling 65.05% stake in Johor-based property developer FOCAL AIMS HOLDINGS BHD [] for RM230.69 million or RM1.40 a share cash.

Focal Aims said today Eco World and Liew Tian Xiong have signed a conditional share sale agreement with "various shareholders" of Focal Aims to acquire the stake comprising 164.78 million shares. Tian Xiong is the son of S P Setia Bhd president and chief executive officer Tan Sri Liew Kee Sin.

Focal Aims said the buyers will be obliged to extend a mandatory general offer to the holders of the remaining shares in Focal Aims at RM1.40 a share.

Bursa Malaysia Securities Bhd has  issued an unusual market activity (UMA) query on FCW HOLDINGS BHD [] after the diversified entity’s shares and warrants hit limit up.

Bursa said : “In this respect, we advise investors when making their investment decision, to take note of the company’s reply to the UMA query which will be posted on our website under the company announcements".

Port operator NCB HOLDINGS BHD [], and diversified entity CAHYA MATA SARAWAK BHD [] may attract market interest before  both stocks trade ex-dividend this Thursday (September  19).

NCB plans to reward shareholders with an interim tax-free dividend of 3.5 sen a share for financial year ending December 31, 2013 (FY13). Cahya Mata intends to make an interim payout of five sen a share less 25% income tax for the year.

Both companies plan to pay the dividends on October 10 this year.

FBM KLCI-linked companies with high foreign shareholding may be closely watched ahead of the conclusion of  the US Federal Reserve's Federal Open Market Committee (FOMC) meeting today and tomorrow (September 17 and 18).

The FOMC meeting will decide on the timing and quantum of US policy makers’ planned reduction of their quantitative easing measures which have supported the rise in Asian stock markets.