Business & Markets 2014
Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com
Tuesday, 25 March 2014 19:04
KUALA LUMPUR (Mar 25): Based on news flow and corporate announcements as of 6.45 pm today, the stocks that might excite investors tomorrow include SapuraKencana, Paramount, Keladi Maju, Ajiya, MAS and Inari.
SapuraKencana Petroleum Bhd announced its plans to spend RM1.65 billion (US$500 million) annually to develop its oil and gas assets acquired from Newfield Exploration Co, according to Reuters.
The company plans the capital expenditure over the next three years, 'depending on the speed at which we develop this field', its president and group CEO Shahril Shamsuddin said at a media briefing on Tuesday.
The group hopes the development of the Malaysian assets will bear fruit by 2017.
Paramount Corporation Bhd proposed to acquire a piece of land measuring 30.7 acres in Batu Kawan, Penang for RM67.0 million for the development of KDU College Penang.
The group has plans to develop a university metropolis on the land, mirroring the Paramount Utropolis development at Glenmarie, Shah Alam, Selangor.
Keladi Maju Bhd, which released its fourth quarter results ended Jan 31, 2014, said it plans to pay a dividend of 0.5 sen per share.
Net profit for the quarter rose to RM7.7 million from RM6.5 million in the previous year’s same quarter.
However, revenue for the quarter fell to RM23.0 million from RM35.2 million.
Ajiya Bhd announced a first and final dividend payment of 3 sen per share for its financial year ended Nov 30, 2013.
The dividend will go ex on Mar 20, 2014, and payable on Jun 6, 2014.
Malaysia Airlines Systems Bhd may still be in focus pending updates from the missing flight MH370.
Prime Minister Najib Razak said on Monday that flight MH370, which vanished more than a fortnight ago while flying to Beijing from Kuala Lumpur, had “ended” in the southern Indian Ocean.
Inari Amertron Bhd, whose share price has shot to over five year high, announced that a subsidiary has obtained grants from the government.
It said Inari South Keytech Sdn Bhd (ISK), a wholly-owned subsidiary, has been granted approval by the Malaysian Investment Development Authority (MIDA) to receive the two grants under the Local Investment Strategic Fund for ISK’s activity in “Advanced Fiber Optics R&D and Packaging Technology”.
One is a “matching 1:1 R&D grant” i.e. 50% of R&D expenditure incurred by ISK of up to RM9,896,000 (MIDA's portion), for a period of three years commencing 2013.
The other is a “matching 1:1 training grant” i.e. 50% of total training expenditure incurred by ISK up to RM104,000 (MIDA’s portion), for a period of three years commencing 2013.