Stocks To Watch Patimas, Cypark, Top Glove, Kimlun, Oldtown

Business & Markets 2014
Written by Chong Jin Hun of   
Tuesday, 18 March 2014 18:49

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

Practice Note 17 entity Patimas Computers Bhd will be delisted from the stock exchange this Friday (March 21).

According to Patimas, Bursa Malaysia has "dismissed" the firm's further appeal for time extension up to April 14 this year to submit the company’s regularisation plan.

Cypark Resources Bhd has secured a RM17.8 million project involving the construction of a private school in Johor.

Cypark said it had received the letter of acceptance for "main building works for phase 1 and 2" from  Fairview International School Nusajaya Sdn Bhd.

Top Glove Corp Bhd had denied that news of the company locking up an allegedly misbehaving worker was the reason for the stock's decline today.

Top Glove Executive Director Lim Cheong Guan said the firm would leave the matter to the authorities for investigation. “We deny the lock-up case as causing the decline in our share price.

“It is a matter of a disciplinary action taken on an errant worker. We leave it to the relevant authorities to investigate the case,” Lim told over the telephone today.

Top Glove shares fell 18 sen or 3.2% to close at its intraday low of RM5.45 with some 2.5 million shares done. The stock was the fourth-largest decliner across the bourse.

Kimlun Corp Bhd's 60.11 million new shares and a similar number of warrants under the construction firm's planned rights issue will be listed tomorrow.

The warrants will be traded under the stock short name KIMLUN-WA.

Oldtown Bhd may be closely watched as its shares trade ex-dividend tomorrow.

Oldtown which manufacturers coffee-based beverage, plans to pay an interim dividend of three sen a share for financial year ending March 31, 2014.