Stocks To Watch GBH, Keladi Maju, AirAsia, Daya Materials, WZ Satu and Efficient E-Solutions

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Business & Markets 2014
Written by Siow Chen Ming of   
Tuesday, 01 July 2014 21:16

KUALA LUMPUR (July 1): Based on corporate news on July 1, the stocks in focus tomorrow could include Goh Ban Huat, Keladi Maju, AirAsia, Daya Materials, WZ Satu and Efficient E-Solutions.

Goh Ban Huat Bhd (GBH), which has requested for its stock to be suspended from 2pm today to 5pm tomorrow, is likely to announce a major corporate exercise involving the injection of oil and gas (O&G) services businesses— valued at over RM600 million— into the company as well as the disposal of its Segambut land bank to parties related to current major shareholder Tan Sri Robert Tan Hua Choon, said sources.

It is understood that the corporate exercise will involve a reverse takeover of GBH by new major shareholders followed with a general offer.

The exercise will essentially see GBH transforming into an O&G services provider with businesses in providing designs and technical consultation for floating production and storage operator (FPSO) vessels as well as procurement, engineering and construction of HVAC (heating, ventilation, and air conditioning) systems for the O&G industry.

GBH’s share price closed 24 sen or 13.64% up at RM2 today, giving it a market capitalisation of RM371.5 million.

Keladi Maju Bhd, another listed company where Tan Sri Robert Tan Hua Choon is a substantial shareholder, has also requested for its stock to be suspended from 9am to 5pm on Wednesday.

Given that the firm shares the common major shareholder with Goh Ban Huat Bhd, the suspension of its stock may be related to the corporate exercise that will be announced by the latter on Wednesday. Tan and family holds a 16.8% stake in Keladi Maju.

Keladi Maju develops properties and also cultivates oil palm. Its share price closed unchanged at 32.5 sen today, with a market capitalisation of RM246.45 million.

Daya Materials Bhd’s president and chief executive officer Datuk Mazlin Md Junid has been re-designated as non-executive director effective June 30, according to the company’s announcement to Bursa Malaysia today.

Mazlin had been selling down shares in Daya recently, having disposed of 3 million shares in the open market on June 24 at 31.5 sen per share, and earlier, another 3 million shares on June 17 at 31 sen per share.

Since April 1, he has trimmed his holdings in the oil and gas services firm to 9.17% stake as of June 24, 2014, from 9.96%.

Daya’s share price closed at 31 sen today, with a market capitalisation of RM430.53 million.

AirAsia Bhd has announced that it would set up a low-cost carrier (LCC) with Japan’s biggest online retailer Rakuten Inc and three other firms, marking its second attempt to tap the Japanese's air travel markets.

The new LCC, which will be called AirAsia Japan Co Ltd, will have an initial capitalisation of US$69 million, where AirAsia will contribute 49% given its equity stake in the venture.

AirAsia Japan will start flying in about a year with a fleet of five Airbus A320s. It will fly to both domestic and international destinations, but has yet to decide which airport will be its base.

AirAsia’s share price closed two sen higher at RM2.32 today, with a market capitalisation of RM6.46 billion.

WZ Satu Bhd has announced the issuance of 95 million free warrants on a one-for-two basis as well as the placement of up to 57 million new shares representing up to 30% of its existing share capital to third party bumiputera institutions or investors.

The exercise price of the free warrants shall be 60 sen per warrant.

WZ Satu, which manufactures and processes cold drawn bright steel and other steel products, saw its share price close 5 sen or 3.62% higher at RM1.43 today, giving it a market capitalisation of RM271.7 million.

Efficient E-Solutions Bhd has announced the acquisition of a new subsidiary Livingston Education Sdn Bhd for RM2, for the purpose of entering into the education business.

Livingston is currently a dormant company but its intended principal activity is to carry on the activities of a private school, said Efficient in a filing to Bursa Malaysia yesterday.

The stock closed 0.5 sen or 2.5% lower at 19.5 sen today, with a market capitalisation of RM138.28 million.


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