Stocks To Watch IGB REIT, Integrated Logistics, KPJ, Pestech, KLCI firms

Business & Markets 2014
Written by Chong Jin Hun of   
Tuesday, 28 January 2014 18:40

KUALA LUMPUR (Jan 28): Based on stock exchange filings and news flow today, stocks to watch tomorrow (January 29) may include the following :

IGB Real Estate Investment Trust (IGB REIT) which saw net profit rose 8% to RM158.08 million in the fourth quarter ended December 31, 2013 from RM146.89 million a year earlier. Revenue climbed to RM114.32 million from RM102.98 million.

Full-year net profit rose to RM311.95 million from RM153.29 million a year earlier. Revenue was higher at RM430.73 million compared to RM115.29 million.

IGB REIT plans to make an income distribution of 3.61 sen a share for the quarter in review. This brings total distributed income for the year to 7.04 sen.

Integrated Logistics Bhd plans to pay a special share dividend to shareholders. The dividend for financial year ended December 31, 2013 involves eight treasury shares for every 100 existing units held in Integrated Logistics.

The ex-date for dividend falls on February 12 this year.

KPJ Healthcare Bhd may attract market interest as the hospital operator's 43.64 million rights shares and 87.27 million new warrants start trading on Bursa Malaysia from tomorrow.

The cash call involves the issue of one rights unit for every 15 existing shares held besides two new warrants for one rights unit.

Pestech International Bhd will trade ex-dividend tomorrow. Pestech, an electricity-transmission specialist, intends to reward shareholders with a single-tier interim dividend of four sen a share.The payout is for financial year ended December 31, 2013.

Owners of Pestech shares may choose to convert their cash dividend into new shares in the firm. The issue price of new shares under the dividend reinvestment plan is RM2.71 each.

FBM KLCI stocks with high foreign shareholdings may be closely watched tomorrow.

This is in anticipation of whether US policy makers will further reduce quantitative easing (QE) measures at the Federal Reserve's meeting today and tomorrow. (January 28 and 29).

The QE essentially generates capital flows into Asian emerging markets, and hence demand for regional assets.  A QE reduction does not bode well for Asian markets on expectation of funds flowing back to US-based assets.