OCTober Market sipeh SIAN...
Waiting for IBHD-LA to be listing on 14 OCTOBER.
Business & Markets 2014
Written by Charlotte Chong of theedgemalaysia.com
Friday, 03 October 2014 22:30
KUALA LUMPUR (Oct 3): Based on news flow and corporate announcements today, the stocks that may be in focus on Tuesday (Oct 7) could include the following: Tanjung Offshore Bhd, TH Heavy Engineering Bhd, I-Bhd, Euro Holdings Bhd, KPJ Healthcare Bhd, Al-'Aqar Healthcare REIT, Titijaya Land Bhd and Weida (M) Bhd.
Tanjung Offshore Bhd announced that the conclusion of the two heads of agreements (HoA) entered into on June 5, 2014, in relation to its proposed reverse takeover (RTO) of the Bourbon Group’s businesses, will be extended from Oct 5 this year to June 5 next year.
In a filing with the bourse this evening, Tanjung Offshore said it has agreed with Farid Khan Kaim Khan, Mower Tunggal Jaya PT, Megagold Indonesia PT, Zona Maju Mapan PT and Bourbon Far East Pte Ltd, to extend the conclusion of the deals by another eight months.
Tanjung Offshore closed 0.5 sen higher at 52.5 sen today, bringing its market capitalisation to RM195.24 million.
TH Heavy Engineering Bhd (TTHE) has proposed to undertake a renounceable rights issue to raise up to RM450 million, with a bonus issue of one bonus share for every five rights share subscribed.
In a filing with Bursa Malaysia, TTHE said the entitlement basis for the rights shares and the issue price have not been fixed at this juncture.
TTHE closed half a sen lower at 81 sen, with a market capitalisation of RM855.9 million.
I-Bhd expects to continue its double-digit growth in revenue and profit “for several years” till the property developer reaches its targeted revenue contribution of RM500 million per year from the property development segment in 2018, said its chief executive officer Datuk Eu Hong Chew.
“By then, the group’s revenue and earnings will commensurate with our billion ringgit shareholder funds,” he said in a statement today.
I-Bhd’s counter closed 0.93% lower at RM1.06, giving it a market capitalisation of RM546.1 million.
The mandatory general offer (MGO) for Euro Holdings Bhd (EHB) at 44 sen per share has been deemed “not fair” and “not reasonable” by independent advisers DWA Advisory Sdn Bhd.
In a circular released to Bursa Malaysia today, DWA said the offer price of 44 sen per share did not reflect the fair value of EHB shares and was below its market price.
Euro edged up 1.54% to close at 66 sen today, bringing its market capitalisation to RM53.46 million.
KPJ Healthcare Bhd’s wholly owned subsidiary, Puteri Nursing College Sdn Bhd (PNCSB), has proposed to dispose two parcels of land with constructed buildings in Nilai, Negeri Sembilan, to Al-'Aqar Healthcare REIT for RM77.8 million.
The properties to be disposed of are the new extension of the KPJ Healthcare University College (KPJUC), consisting of an academic block with two Tenaga Nasional Bhd (TNB) sub-stations, and a hostel block with a refuse storage chamber.
KPJ shares closed up 5 sen or 1.29% today to RM3.93, giving it a market capitalisation of RM3.98 billion. Al-'Aqar meanwhile was unchanged at RM1.40, with a dividend yield of 5.61% and market capitalisation of RM974.7 million.
Weida (M) Bhd has partnered with Pacific Mutiara Sdn Bhd (PMSB) to jointly develop residential, commercial, low cost and affordable property units on two parcels of leasehold land, measuring about 11.45 acres, in Cheras.
The two lands, measuring 8.93 acres and 2.52 acres respectively, are located in Cheras and are accessible via well-established road links and highways such as Jalan Cheras, Jalan Loke Yew and the Middle Ring Road 2.
Shares of Weida climbed 1 sen to settle at RM1.78 today, with 265, 200 units traded, giving it a market capitalisation of RM227.14 million.
Property developer Titijaya Land Bhd has appointed Tan Sri Syed Mohd Yusof Syed Nasir — popularly known as “Jojo” – to its board as well as nomination committee, a filing to Bursa Malaysia revealed this evening.
Jojo’s appointment came after the resignation of Datuk Wan Ahmad Fauzi Hashim, who was previously non-independent non-executive diretor and member of the nomination committee.
Titijaya’s counter closed 0.41% lower at RM2.44 today, giving it a market capitalisation of RM862.13 million.