Stocks To Watch Hibiscus, Connectcountry, TA Enterprise, Ta Ann, JCY, Oldtown

Business & Markets 2013
Written by Ho Wah Foon of   
Tuesday, 24 December 2013 18:32

KUALA LUMPUR (Dec 24): Based on limited and unexciting corporate announcements, the stocks that may stir some interest on Thursday (Dec 26) include the following: 

Hibiscus Petroleum Bhd, which has suspended its own securities from trading for two days, clarified that the “pending material announcement” it was supposed to disclose pertained to the result of the drilling programme of its 1st exploration well in Masirah North North #1 (MNN #1), located in Block 50 Oman concession. 

“Such material announcement is still pending the clearance from the relevant regulatory authorities in Oman, which is a requirement under the Exploration & Production Sharing Agreement executed with the Government of the Sultanate of Oman,” the company told Bursa Malaysia today. 

ConnectCounty Holdings Berhad (CCHB) announced it had on Dec 24 obtained an exclusive distributorship of health products in four countries.

In a filing with Bursa Malaysia, it said it has entered into a distributorship agreement with Vitaxel Sdn Bhd for exclusive distributorship of health and energy drink products in Vietnam, Laos, Cambodia and Myanmar.

Vitaxel, a wholly-owned subsidiary of Ho Wah Genting Berhad, is involved in the selling of energy food and beverages. Vitaxel holds a direct sale license from the Controller of Direct Sales of Ministry of Domestic Trade, Co-operative and Consumerism, said CCHB.

Vitaxel had on 20 December 2013 entered into an exclusive distributorship for Asia and supply agreement with Aepic Wellness Beauty Sdn Bhd for the supply of Aepic M-VITAL and Aepic FEMININ health/energy drinks.

The distributorship agreement shall be effective today and shall continue to be in force for an initial term of 5 years and may be extended by mutual agreement for an additional period of 5 years.

TA Enterprise Bhd, Ta Ann Holdings Bhd and JCY International Bhd saw their respective controlling shareholder and directors buying up company shares.

TA told Bursa Malaysia its controlling shareholder Datuk Tony Tiah continued to buy TA shares on the open market at 76.5 sen per share on Dec 20. He picked up 302,300 shares.

On Dec 18 and 19, Tiah also picked up shares on the open market at an average price of 76.7 sen per unit and 76.5 sen respectively.

He has been buying up TA shares on the open market for the whole year.

Ta Ann also reported that its directors and institutional funds, including Datuk Wong Kuo Hea and Datuk Amar Abdul Hamed Sepawi and the EPF, have been buying the company’s shares this month.

JCY said its executive director Datuk Tan Shih Leng had on Dec 20 acquired one million shares via direct transactions at 58.5 sen a share. On Dec 5, he bought 500,000 shares at 57 sen a share.

Oldtown Bhd announced that Matthews Asia Small Companies Fund, a foreign institutional investor, has raised its stake in Oldtown to 5.18% after acquiring on the market 419,800 shares on Dec 20 and 132,000 shares on Dec 23.