Stocks To Watch Westports, MAHB, BJFood, AZRB, Boustead


Business & Markets 2014
Written by Shalini Kumar of theedgemalaysia.com   
Wednesday, 23 July 2014 20:13

KUALA LUMPUR (July 23): Based on corporate announcements and news flow today, stocks in focus tomorrow (July 24) could include:

Westports Holdings Bhd reported a 2.4% rise in second quarter net profit from a year earlier, as revenue increased on higher container throughput.

Lower cost of sales and administrative expenses also supported the port operator's profit growth.

Westports said net profit rose to RM122.49 million in the second quarter ended June 30, 2014, from RM119.58 million. Revenue, which included construction income, climbed to RM409.03 million from RM401.24 million.

The company’s six-months cumulative net profit increased to RM231.53 million from RM198.4 million a year earlier, while revenue was higher at RM772.18 million versus RM750.08 million. Westports said it planned to pay a first interim single-tier dividend of 5.1 sen a share for the quarter in review, compared with earnings per share of 4.95 sen.

Malaysia Airports Holdings Bhd (MAHB) will announce its second quarter financials tomorrow, the airport operator said in a statement.

In the first quarter ended March 31, 2014, MAHB's net profit rose to RM128.71 million, from RM126.06 million a year earlier. Revenue however fell to RM781.08 million, from RM1.03 billion.

Berjaya Food Bhd (BJFood) has signed a conditional share purchase agreement with Starbucks Coffee International, Inc to buy the remaining 50% stake in Berjaya Starbucks Coffee Company Sdn Bhd (BStarbucks) for a total of US$88 million (RM279.5 million)

"Upon completion of the proposed acquisition, BStarbucks will become a 100%-owned subsidiary of BJFood, from a currently 50% jointly-controlled entity," it said in a filing with Bursa Malaysia today. 

BJFood proposes to fund the acquisition amount, entirely through bank borrowings. 

Ahmad Zaki Resources Bhd (AZRB) has been awarded a RM185.1 million contract from Putrajaya Resources Sdn Bhd for the proposed construction and completion of 2 blocks of office buildings, retail spaces and external works, three levels of basement parking and access road plus upgrading works to Jalan Alamanda at Precinct 1, Wilayah Persekutuan, Putrajaya.

The period of the contract is for 28 months. 

Boustead Holdings Bhd has acquired nine parcels of land in Klang for RM310 million, to expand its presence in the oil & gas sector. 

According to a Bursa Malaysia filing, Boustead said its wholly-owned subsidiary Bestari Marine Sdn Bhd had entered into four conditional sale and purchase agreements with four companies, for a 69.88 acre tract of land in Pulau Indah. 

Boustead deputy chairman and managing director Tan Sri Lodin Wok Kamaruddin said the acquisition put the group in an advantageous position to enhance its prospects.