#Stocks To Watch* Bright Packaging, Dayang and Petra Energy, Air Asia, Patimas, F&N, ...

 

Sunday, 20 January 2013

KUALA LUMPUR (Jan 20): Based on Bursa announcements and news flows over the weekend, stocks to watch on Monday (Jan 21) may include Bright Packaging, Dayang and Petra Energy, Air Asia, Patimas, F&N, Jetson and technology stocks.

Bright Packaging Industry Bhd, whose board of directors is facing a hostile challenge to remove it at an upcoming EGM, announced that the company will pay out 100% of all distributable profits as dividend for the next five financial years to reward shareholders.

The company posted a net profit of RM1.69 million for the first quarter to Nov 30, 2012, compared to RM663,000 in the corresponding quarter in the previous year. But revenue fell to RM11.41 million, from RM13.74 million.

The company also announced that it has undertaken a revaluation of its assets, resulting in an additional revaluation reserve of RM12.85 million and increase of shareholders’ equity to RM41.33 million.

Shares of Dayang Enterprise Holdings Bhd and Petra Energy Bhd may see some excitement following a report by the Edge Weekly that the two companies have been shortlisted for a RM3 billion contract from Shell.

Quoting an unnamed source, the weekly said the pair have met the preconditions of the tender for Shell’s share in the Pan Malaysian Umbrella Hock-up and Commissioning project. The winner/s of the contract is expected to be announced within Feb-April.

The Edge Weekly also reported that shareholders of cash-rich AirAsia Bhd could expect to receive a special dividend, possibly amounting to about 18 sen per share if the company decides to pay out 50% of its FY2012 net profit of about RM1 billion.

Quoting an unnamed executive close to the airline, the weekly said the board of directors of AirAsia has yet to approve the plan for the special dividend.

Patimas Computers Bhd informed Bursa Malaysia that its board of directors and the management have not been approached or notified of any proposals relating to the entry of a foreign strategic partner or any tie ups with one of China’s biggest Internet companies to take over Patimas.

The company, which topped the actively traded list for the whole of last week and had risen partly because of this “news”, could come under some selling pressure.

F&N Holdings Bhd, the Malaysian subsidiary Singapore's Fraser and Neave Ltd, could stir due to the latest news that Thailand's third richest man has raised his takeover offer for Singapore's Fraser and Neave Ltd to fend off a rival bid from a group run by Indonesian tycoon Stephen Riady.

Thailand's TCC Assets Ltd, headed by billionaire Charoen Sirivadhanabhakdi, increased his offer to S$9.55 a share, above the S$9.08 made by a consortium led by Riady's Singapore-listed property company Overseas Union Enterprise Ltd, Reuters reported.

A formal auction will begin on Monday if neither bidder declares a final offer, according to rules set by Singapore's securities regulator, the Securities Industry Council (SIC). The regulator stepped in this month to try to end the takeover battle that was sparked in July when Charoen bought a 22% stake in F&N from Singapore's OCBC group.

Kumpulan Jetson Bhd, through its wholly owned subsidiary Jetson Construction Sdn Bhd, has accepted a letter of award from Clear Capital Development Sdn Bhd to jointly develop a RM35.1 million commercial development in Johor Bahru.

The Project is expected to contribute positively to the earnings of the Jetson Group, the company told Bursa on Friday.

Local technology stocks which supply parts to Intel may come under pressure as Intel Corporation’s  forecast for its current quarterly revenue has disappointed Wall Street and its plan for a sharp increase in capital spending for 2013 has unnerved investors.

Shares of the world's leading chipmaker slid more than 5% in after-hours trade on Thursday after it projected this year's capital spending at $13 billion, exceeding many analysts' estimates for about $10 billion, Reuters reported.

In the fourth quarter of 2012, Intel's revenue was $13.5 billion, compared with $13.9 billion a year earlier. Analysts had expected $13.53 billion. It estimated first-quarter revenue of $12.7 billion, lower than analysts’ expected $12.91 billion.

PC makers are struggling to stop a decline in sales as consumers hold off on buying new laptops in favour of more nimble mobile gadgets.

 

 

Follow @YahooMalaysia on LINE for daily news updates.

Comments on Yahoo pages are subject to our link to Comments Guidelines. You are responsible for any content that you post. Yahoo is not responsible or liable in any way for comments posted by its users. Yahoo does not in any way endorse or support comments made by its users.

  • MH370 passenger’s partner tells of strange email from sacked Fox officer The Malaysian Insider
    MH370 passenger’s partner tells of strange email from sacked Fox officer

    The partner of an American passenger aboard the missing Malaysia Airlines flight MH370 has spoken about how a Fox executive who was recently sacked by the news station had contacted her offering to raise funds on her behalf. Sarah Bajc, whose partner Philip Wood is among the 239 people on board the missing plane, told the Sydney Morning Herald... …

  • My last moments with Pa: Ramkarpal Singh The Malaysian Insider
    My last moments with Pa: Ramkarpal Singh

    A week after the tragic crash that took the lives of veteran lawyer and politician Karpal Singh and his personal aide, Michael Cornelius, his son Ramkarpal recounts the final hours with his father that fateful day. This is his story, as told to V. Anbalagan, assistant news editor. “My parents (Karpal and Gurmit) had gone to Pantai Hospital... …

  • In Disney's shadow, homeless families struggle Associated Press
    In Disney's shadow, homeless families struggle

    KISSIMMEE, Fla. (AP) — When they moved from Georgia to the theme park playground of central Florida four years ago, Anthony and Candice Johnson found work at a barbecue restaurant and a 7-Eleven. Their combined salaries nevertheless fell short of what they needed to rent an apartment, so the couple and their two children have instead been hopping among cheap motel rooms along U.S. 192. …