Stocks To Watch Pintaras, Handal, TSH, KLK, Boustead

Business & Markets 2014
Written by Chong Jin Hun of   
Wednesday, 12 March 2014 18:55

KUALA LUMPUR (Mar 12): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (March 13) may include the following companies :

Pintaras Jaya Bhd has won a RM74 million contract to undertake foundation work for the proposed Warisan Merdeka tower here.

News reports indicate that the 118-storey Warisan Merdeka tower is located adjacent to the Chin Woo Stadium along Jalan Sultan. Permodalan Nasional Bhd is the developer of the tower.

Pintaras said in a statement to Bursa Malaysia that its subsidiary Pintaras Geotechnics Sdn Bhd had received a commencement date notice for the project today from PNB Merdeka Ventures Sdn Bhd.

Handal Resources Bhd has secured an estimated RM16 million contract from UMW Petrodril (M) Sdn Bhd.

The contract involves the supply of a portable-platform crane to UMW Petrodril. The two-year contract will start this month (March 2014).

Shares of oil palm plantation firms like IJM Plantations Bhd, TSH Resources Bhd, IOI Corp Bhd and Kuala Lumpur Kepong Bhd (KLK) may continue to attract market attention.

This comes amid higher crude palm oil (CPO) prices as dry weather curbs production and inventory of the commodity.

Bloomberg data show palm oil for May delivery this year was traded at RM2,814 a tonne today. This compares to a one-year low of RM2,191 seen on July 30, 2013.

The Kuala Lumpur Plantation Index had risen 0.36% so far this year, outperforming the Kuala Lumpur Composite Index's 2.59% decline.

Boustead Holdings Bhd and Dayang Enterprise Holdings Bhd may be closely watched as these companies' shares trade ex-dividend tomorrow.

Diversified Boustead plans to pay a fourth interim single-tier dividend of 7.5 sen a share.

Dayang which offers oil and gas support services intends to reward shareholders with a tax-free second interim dividend of 3.5 sen a share.