KUALA LUMPUR: UOA Development Bhd will be in focus when it is listed on Bursa Malaysia on Wednesday, June 8.
Other stocks to watch include Hap Seng Consolidated Bhd, Malayan Banking Bhd, Zecon Bhd and Faber Group Bhd.
UOA’s institutional price has been fixed at RM2.60 and the final retail price at RM2.52. At RM2.52, this was below the indicative retail price of RM2.90.
RHB Research Institute had valued UOA at RM3.45, at its RNAV per share and in line with its valuations on IJM Land Bhd.
“The implied price-to-earnings and price-to-book based on our RM3.45 indicative fair value are 18 times and 2.9 times for FY11, which are
reasonable based on the sector’s overall valuations," the research house said.
Hap Seng Consolidated has allocated RM460 million as capital expenditure for its six divisions this year, said its group managing director, Datuk Edward Lee Ming Foo.
The divisions are plantations, property investment and development, credit financing, trading of fertilisers and automotive, as well as building materials and stone quarries.
Bernama quoted Lee as saying the company planned to reduce its dependence on the plantation division as it hoped to grow other core businesses -- fertiliser trading, building materials, automotive and property holdings and development. He said the plantation division accounted for 50% to its profit.
Mitsubishi UFJ Securities Holdings Co., Ltd. has agreed to dispose of its 29.16% stake in Kim Eng Holdings Ltd to Maybank.
It had applied for the tender offer made by Maybank’s affilitate -- Mayban IB Holdings Sdn Bhd – for all of the Kim Eng shares which it held.
Zecon has received a letter of intent (LOI) from the Public Works Department to build the Petra Jaya Hospital in Kuching.
Zecon said it had received the letter informing it that the company would be appointed to build the hospital by the Ministry of Finance by way of direct negotiation on the "design & build" basis.
In Faber Group Bhd, Lembaga Tabung Haji has emerged as a substantial shareholder with a 9.92% stake or 36 million shares. It acquired the shares in an off-market deal from Universal Trustee (M) Bhd on June 2.