Stocks To Watch Coastal, Prolexus, Kretam, Pestech, Mudajaya


Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com   
Monday, 21 October 2013 19:11

KUALA LUMPUR (October 21): Based on exchange filings and news flow today, stocks to watch tomorrow (October 22) may include the following :

Coastal Contracts Bhd has secured orders for six offshore support vessels with a collective value of some RM318 million. The list comprises four units of anchor handling tug supply vessels, one subsea support maintenance unit, and a platform supply entity.

"The revenue stream from the latest contracts is expected to contribute positively to the earnings per share and net assets per share of Coastal group for the financial years ending 31 December 2013 and 31 December 2014," Coastal said.

Prolexus Bhd has proposed combined dividends of three sen a share for financial year ended July 31, 2013.

The clothing manufacturer said the dividends comprise a first and final payout of two sen a share less  25% income tax and a special tax-free dividend of one sen.  Prolexus' dividends require the company's shareholders' consent.

Oil palm plantation firm Kretam Holdings Bhd (KHB) plans to undertake a share split. This involves the division of one share with a par value of RM1 into five units of 20 sen each.

"The proposed share split will not have a direct impact on the market capitalisation of the company as the market price of the KHB shares will be adjusted correspondingly to one-fifth, resulting in the subdivided shares being more affordable which will enable a wider spread of investors to participate in the growth of KHB," the firm said.

Pestech International Bhd and Mudajaya Group Bhd will trade ex-dividend this week.

Pestech, an electricity-transmission specialist, intends to reward shareholders with a single-tier interim dividend of three sen a share. The payout is for current financial year ending December 31, 2013 (FY13).

Shares of Pestech will trade ex-dividend tomorrow.

Owners of Pestech shares may choose to convert their cash dividend into new shares. The issue price of new shares under the dividend reinvestment plan is RM2.11 each.

Mudajaya Group Bhd plans to pay its second interim dividend three sen a share for FY13.

Shares of the construction firm will trade ex-dividend this Wednesday (October 23).