#Stocks to Watch* China Automobile, KUB, OSK Property, S P Setia, plantation firms

  • Search efforts for MH370 to be intensified, says Hishammuddin
    Search efforts for MH370 to be intensified, says Hishammuddin

    All efforts related to the underwater search of MH370 will be intensified in the next few days, acting Transport Minister Datuk Seri Hishammuddin Hussein said today. “The JACC has narrowed the search area and it’s imperative that we focus on this now,” Hishammuddin said at a press conference today. “Today and tomorrow are imperative to... …

  • Penang to rename Jelutong sea front ‘Karpal Singh Drive’
    Penang to rename Jelutong sea front ‘Karpal Singh Drive’

    GEORGE TOWN, April 19 — A newly-built park facing the sea along Jelutong here will be renamed after the late Karpal Singh, Lim Guan Eng announced today. The Penang chief minister said the... …

  • Underwater search for MH370 to be completed in 5 to 7 days, say Australian officials
    Underwater search for MH370 to be completed in 5 to 7 days, say Australian officials

    Australian officials supervising the search for missing Malaysia Airlines flight MH370 told Reuters today that an underwater search for the black box recorder based on "pings" possibly from the device could be completed in five to seven days. A US navy deep-sea autonomous underwater vehicle (AUV) is scouring a remote stretch of the Indian... …

  • Young Karpal was curious and had claws, says brother
    Young Karpal was curious and had claws, says brother

    GEORGE TOWN, April 19 — The “Tiger of Jelutong” who shook his adversaries in Parliament and court had been a “brilliant” child who had no qualms about showing his claws and fangs even to family.... …

  • Penang to rename road to honour Karpal
    Penang to rename road to honour Karpal

    Penang Chief Minister Lim Guan Eng today proposed that the IJM Promenade in Seri Pinang be renamed to Persiaran Karpal Singh, in honour of the late DAP leader who died in a road crash last Thursday. Announcing this to reporters at Karpal's house along Jalan Utama, Lim said renaming the road was a fitting way to honour the veteran lawyer and... …

  • He was our role model, our hero, say Karpal’s sons
    He was our role model, our hero, say Karpal’s sons

    As the patriarch of a close-knit family, Karpal Singh was a devoted father and grandfather, his sons said. Jagdeep Singh Deo, 43, recalled that when he and his four siblings were growing up, his father’s legal and political careers took up so much of his time that he was hardly at home. So whenever the family was together, it was truly... …

KUALA LUMPUR (Feb 7):  Based on Bursa Malaysia announcements on Thursday, stocks to watch on Friday (February 8) may include China Automobile Parts Holdings Ltd, KUB Malaysia Bhd, OSK Property Holdings Bhd, S P Setia Bhd and shares of plantation firms.

China Automobile may continue to attract market interest after the company said it was unaware of any reasons for the unusual trading patterns of the stock.

The firm which was responding to a query by Bursa Malaysia also said it is not aware of any negative news which might have an impact on the company’s operations.

"In addition, the company is of the view that the fall in the company’s share price may have been due to the recent poor market sentiment of the local bourse," China Automobile said.

Meanwhile, KUB plans to jointly develop an 8,000 ha oil palm plantation tract in Sarawak under a collaboration with Antero Capital Sdn Bhd, a move which will expand the former's plantation tracts in the state.

KUB said its wholly-owned subsidiary KUB Agro Holdings Sdn Bhd has signed a memorandum of understanding with Antero as a prelude to definitive agreements for the proposed venture within the Kanowit enclave in Sibu.

OSK Property reported a 13% rise in fourth quarter net profit from a year earlier mainly on lower minority interest which mitigated the impact of revenue decline during the period.

Net profit came to RM4.8 million in the quarter ended December 31, 2012 (4QFY12) against RM4.26 million a year earlier while revenue fell 4% to RM54.7 million from RM57.03 million.

The firm’s cumulative full-year net profit rose 28% to RM31.52 million from RM24.62 million a year earlier although revenue was down 21% to RM215.61 million from RM272.71 million.

The company said it plans to reward shareholders with a final dividend of 2.5 sen a share less 25% income tax in 4QFY12, bringing total dividends for the year to 7.5 sen a share.

Meanwhile, trading of S P Setia shares was suspended between 2.30pm and 5pm on Thursday to facilitate the book-building process for the placement of new shares of up to 15% of the property developer's issued base.

The group said it intends to use proceeds from the  share placement to partially finance the redevelopment of the Battersea Power Station in London and  development of the Qinzhou Industrial Park in China.

Plantation stocks may be in the spotlight in anticipation of a report next week which will show palm oil inventory in Malaysia had dropped in January.

Reuters reported that Malaysian palm oil futures edged up on Thursday, as investors expect a marginal drop in January stocks, although cautious sentiment ahead of the upcoming long holiday capped gains.

Lower production is likely to have helped Malaysian palm oil stocks ease in January from a record high in the previous month, a Reuters survey of five plantation companies showed on Thursday.

Inventory levels most likely dropped 2.9 percent to 2.55 million tonnes in January from December's all-time high, the first decline since last June, according to the survey.

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  • Karpal’s car crashed into lorry, not the other way around, says Perak police The Malaysian Insider
    Karpal’s car crashed into lorry, not the other way around, says Perak police

    Initial investigations have revealed that Karpal Singh’s Toyota Alphard crashed into a five-ton lorry in the accident yesterday that claimed his life and that of his assistant, Perak police said today. State police chief Datuk Acryl Sani Abdullah Sani also dismissed rumours and speculation that the accident was caused by the lorry crashing... …

  • Told to ‘shut up’ on Twitter, Zul Noordin lashes back at Khairy The Malay Mail Online
    Told to ‘shut up’ on Twitter, Zul Noordin lashes back at Khairy

    KUALA LUMPUR, April 18 — A feud is breaking out between former Perkasa vice president Datuk Zulkifli Noordin and Umno Youth chief Khairy Jamaluddin on Twitter. Told unequivocally by the minister... …

  • Zulkifli shoots back at Khairy in Twitter row The Malaysian Insider
    Zulkifli shoots back at Khairy in Twitter row

    Former Perkasa vice-president Zulkifli Noordin continued his Twitter row with Khairy Jamaluddin today, taking a swipe at him with a belittling tweet and telling him not to be a knee-jerk politician. Khairy, the Youth and Sports Minister, had told Zulkifli yesterday to 'shut up' after the latter had made insensitive tweets about the death of... …