Written by Joseph Chin of theedgemalaysia.com
Friday, 11 March 2011 08:27
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KUALA LUMPUR: Stocks which could see trading interest on Friday, March 11 include KNM GROUP BHD [], AHMAD ZAKI RESOURCES BHD [], KUALA LUMPUR KEPONG BHD [] and SELANGOR DREDGING BHD [] (SDB).
All eyes will also be on the announcement from Bank Negara Malaysia which will hold its monetary policy meeting on Friday. Economists expect it to raise the statutory reserve requirement – the amount which banks have to deposit with BNM.
Standard Chartered Global Research said it expected BNM to raise the overnight policy rate by 25 basis points to anchor rising inflation expectations.
KNM Group Bhd has set an internal target of potential earnings before interest, tax, depreciation and amortisation (EBITDA) of RM363 million for FY11 against expected total revenue of RM2.4 billion.
It said the potential EBITDA for FY12 was RM564 million on the back of an expected revenue of RM3.4 billion.
AZRB’s unit Ahmad Zaki Sdn Bhd has secured a contract worth RM145.38 million to complete the remaining works of the Phase 2 of the East Coast highway project in Terengganu.
The contract was awarded by the Public Works Department and the project is to be completed on Aug 26, 2012. It said the contract was expected to contribute positively to its earnings for the financial years ending 2011 to 2012.
Kuala Lumpur Kepong Bhd is not going ahead with its proposal to issue up to US$300 million unsecured guaranteed exchangeable bonds with an
over-allotment option to increase it by US$100 million.
Selangor Dredging Bhd’s (SDB) associate is buying a four-storey building along Kensington High Street, Lodon for £9.82 million (RM48.34 million).
SDB Guernsey Ltd had entered into a contract with Pat Hurley, Adrian Copeland, Michael Farrell and Richard Lehane as trustees for The Kensington High Street Syndicate to acquire the property.
HONG LEONG BANK BHD [] has received approval for its proposed issue of up to US$300 million senior unsecured bonds from the Securities Commission.
“The proceeds from the issuance of the senior bonds will be used for working capital and general banking purposes,” it said.
GEFUNG HOLDINGS BHD [] is making its foray into Indonesia and is planning to undertake a mixed development property project in east of Jakarta.
Gefung said on Thursday, March 10 it had signed an MoU with PT Greenworld Development to undertake the project totaling 50.74 acres east of Jakarta.