Stocks To Watch Gamuda, Amcorp, UMW, IOI, KLCI-linked companies

Business & Markets 2013
Written by Chong Jin Hun of   
Wednesday, 18 December 2013 19:35

KUALA LUMPUR (Dec 18): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (December 19) may include the following companies :

Gamuda Bhd will acquire Amcorp Properties Bhd's 20% stake in highway concessionaire Kesas Holdings Bhd. Amcorp said it has "in principle" accepted Gamuda's offer.

Gamuda which already owns 30% in Kesas, had last month offered to buy Amcorp's stake in Kesas for RM250 million cash.

UMW Oil & Gas Corp Bhd said it has secured a US$7 million (about RM23 million) project from Australia-listed Nido Petroleum Ltd.

According to UMW, the firm will provide its jack-up drilling rig to support Nido's offshore oil and gas operations within the Philippines' Baragatan field.

IOI Corp Bhd shares will trade ex-distribution in specie and offer for sale tomorrow.

IOI Corp, an oil palm plantation entity, plans to distribute to its shareholders, shares in IOI Properties Group Bhd. The listing of IOI Properties on Bursa Malaysia's Main Market is scheduled in January 2014.

FBM KLCI-linked stocks with high foreign shareholding will continue to be closely watched. This follows the conclusion of the US Federal Reserve's meeting yesterday and today

The meeting is closely watched in anticipation that US policy makers may opt to start reducing the world's largest economy's quantitative easing measures this month or postpone the move till the first quarter of next year.