Business & Markets 2014
Written by Chong Jin Hun of theedgemalaysia.com
Tuesday, 10 June 2014 18:55
KUALA LUMPUR (June 10): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow may include the following companies:
Malaysian Airline System Bhd (MAS) may be closely watched after major shareholder Khazanah Nasional Bhd reafffirms its commitment to the airline, as it evaluates several options for the national carrier.
Reuters reported that the Malaysian government investment arm would unwrap plans to restructure loss-making MAS within six to 12 months, as a slump in business since the disappearance of flight MH370 left the carrier set to exhaust its cash reserves by mid-2015.
Khazanah Managing Director Tan Sri Azman Mokhtar said on Tuesday the government was committed to formulating a revival plan for the airline within the next 12 months.
Oil palm plantation firms PPB Group Bhd and Kuala Kepong Bhd (KLK) may attract investors' attention after the Malaysian Palm Oil Board (MPOB) reported that inventory rose 4.2% to 1.84 million tonnes in May 2014 from 1.77 million tonnes in the preceding month (April 2014).
MPOB said crude palm oil production climbed 6.5% to 1.7 million tonnes from 1.6 million tonnes. Palm oil exports increased 10.74% to 1.4 million tonnes from 1.3 million tonnes.
The May palm oil inventory and export growth rates surpassed market forecast.
Datasonic Group Bhd said 675 million new shares under the electronic-identification specialist's bonus issue would be listed tomorrow.
The new shares will expand Datasonic's issued base to RM135 million comprising 1.35 billion shares.
Meanwhile, Eastern & Oriental Bhd said the master plan for phase two of its Seri Tanjung Pinang (STP) property project in Penang had received the Penang state government's endorsement.
Eastern & Oriental's website indicates that STP is a luxury sea-front project involving residential and retail components.