Stocks To Watch I-Bhd, Kanger, Crest Builder, Westports, Boustead Heavy

Business & Markets 2013
Written by Chong Jin Hun of   
Friday, 20 December 2013 21:00

KUALA LUMPUR (Dec 20): Based on Bursa Malaysia announcements and news flow today, stocks to watch this Monday (December 23) may include the following companies :

Property developer I-Bhd has proposed several corporate exercises. The list includes a bonus issue of new shares on the basis of one bonus unit for every five existing shares held.

"The proposed bonus issue is intended to be implemented after the proposed share split and the proposed rights issue with warrants, on an entitlement date to be announced later," I-Bhd said.

Kanger International Bhd will be listed on Bursa Malaysia's ACE market this Monday.

The bamboo-flooring manufacturer's initial public offering (IPO) was intended to raise RM20 million. According to Kanger, its IPO involves the sale of 80 million new shares in the company at 25 sen each.

Crest Builder Holdings Bhd will undertake a planned RM1 billion mixed property development at the Kelana Jaya LRT station. The project will be  modeled after Plaza Pantai at the Kerinchi LRT station.

Crest Builder executive director Eric Yong told over telephone today the company is undertaking the project via a joint venture (JV) with land owner Syarikat Prasarana Negara Bhd. Yong said the proposed development will "house" the Kelana Jaya LRT station.

Westports Holdings Bhd says the Port Klang Authority (PKA) has approved the former's request for more time to complete the land reclamation and incidental work at the Westports marine terminal.

According to Wesports which owns the concession for the marine terminal in Klang, Selangor, the six-month extension is from January 1, 2014 until June 30, 2014.

The timely completion of the land reclamation and incidental work is a requirement for the extension of Westports' existing concession. The government and PKA have agreed to extend Westports' concession for another 30 years to August 31, 2054.

Boustead Heavy Industries Corp Bhd (BHIC) has won a contract to manufacture and supply Airbus A400M mission systems, spares and logistics.

BHIC said it has entered into the contract with Cassidian Airborne Solutions GmbH last Wednesday. Cassidian is a JV between Rheinmetall AG and EADS NV.

BHIC has secured the contract via its subsidiary Contraves Advanced Devices Sdn Bhd. Contraves is jointly-owned by BHIC and Rheinmetall Air Defence AG.