Stocks To Watch Top Glove, Felda, CB Industrial, Ahmad Zaki, Uzma

Business & Markets 2013
Written by Chong Jin Hun of   
Friday, 11 October 2013 19:15

KUALA LUMPUR (Oct 11): Based on Bursa Malaysia announcements and news flow today, stocks to watch this Monday (October 14) may include the following companies : 

Top Glove Corp Bhd reported a 25% fall in fourth quarter net profit from a year earlier as revenue declined on lower selling prices for its products. Foreign exchage losses and higher taxes had also curbed bottom line.

Net profit fell to RM47.77 million in the quarter ended August 31, 2013 (4QFY13) from RM64.03 million. Revenue declined to RM548.16 million from RM607.33 million. Full-year net profit was lower at RM195.85 million compared to RM202.73 million a year earlier. Revenue fell to RM2.313 billion from RM2.314 billion.

Top Glove said it plans to pay a final single-tier dividend of nine sen a share in 4QFY13. The final payout which requires shareholders' consent, brings the company’s full-year dividends to 16 sen a share. 

PLANTATION [] firm Felda Global Ventures Holdings Bhd is buying the remaining 51% stake it does not own in Felda Holdings Bhd (FHB) for RM2.2 billion cash. The seller is Koperasi Permodalan Felda Malaysia Bhd.

Upon the completion of the exercise, FHB will become a wholly-owned subsidiary of Felda Global.

CB INDUSTRIAL PRODUCT HOLDING [] Bhd (CBIP) has secured a RM33 million project to build a palm oil mill in Kalimantan, Indonesia.

CBIP said it has received the letter of award from PT Windu Nabatindo Abadi which is a subsidiary of PT Bumitama Gunajaya Agro. 

AHMAD ZAKI RESOURCES BHD [] (AZRB) has clinched a RM162.96 million job to build a base for the Royal Malaysia Police Air Wing Unit in Shah Alam, Selangor.

AZRB has received the letter of award for the project from Perbadanan Perwira Harta Malaysia. The planned project is located along Jalan Lapangan Terbang Subang, Seksyen U3, Shah Alam. 

UZMA BHD [] said it has received a letter of award from Petronas Carigali Sdn Bhd. This is for the provision of drilling project management team  to support Petronas' upstream oil and gas operations.

"The contract period is for one year from 17 September 2013 to 16 September 2014 with an extension option for one year," Uzma said