#Stocks To Watch* Gamuda, MMC, Hwang-DBS, Sumatec, MRCB, GuocoLand

  • Putrajaya submits early report on flight MH370, but won’t publicise it, says CNN
    Putrajaya submits early report on flight MH370, but won’t publicise it, says CNN

    Putrajaya has sent its preliminary report on the disappearance of flight MH370, but has yet to release it publicly, CNN reported today, despite insisting that it has nothing to hide. “It just adds fuel to the fire – which is like a furnace now – of disbelief, particularly in China, as to what is going on,” Geoffrey Thomas, managing director of... …

  • It’s Obama’s right to see Anwar or not, says Dr Mahathir – Bernama
    It’s Obama’s right to see Anwar or not, says Dr Mahathir – Bernama

    Former prime minister Tun Dr Mahathir Mohamad said it was up to the president of the United States whether to see opposition leader Datuk Seri Anwar Ibrahim or not. "It is his (Obama) right, up to him who he wants to see, he does not even want to see me, a former prime minister," Dr Mahathir (pic) told reporters in Putrajaya today. He was... …

  • Karpal’s Bukit Gelugor seat will stay DAP’s, analysts say
    Karpal’s Bukit Gelugor seat will stay DAP’s, analysts say

    GEORGE TOWN, April 24 — Analysts believe that Barisan Nasional (BN) does not stand a fighting chance in Bukit Gelugor, and even said it may not be worth the ruling pact’s time to contest the seat... …

  • Tuhan Harun case postponed again to July 22 – Bernama
    Tuhan Harun case postponed again to July 22 – Bernama

    The Lower Shariah Court today postponed again the case of leader of the “Tuhan Harun” deviant sect, Harun Mat Saat, to July 22. Judge Abdul Wahid Mohd Ali set the date after hearing the application from Pahang Islamic Religious Department deputy prosecutor Mohd Fahmi Abd Jalil that he needed more time to examine the legal representation... …

  • What if flight MH370 is never found?
    What if flight MH370 is never found?

    Despite assurances from Malaysia and Australia that the search will continue for Malaysia Airlines flight MH370, the lack of significant leads after almost seven weeks are leading many to ask: What if the jetliner that disappeared over the southern Indian Ocean is never found? At the start of the massive international search effort, such a... …

  • New law to give Sarawak natives freedom in purchasing customary rights land
    New law to give Sarawak natives freedom in purchasing customary rights land

    Bumiputera from Sarawak could eventually buy Native Customary Rights (NCR) land outside their ethnic group or community when the state amends its Land Code in November. Chief Minister Tan Sri Adenan Satem (pic, right), in disclosing the government's intention to table the amendment at its Budget sitting, said with the amendment the Iban, for... …

KUALA LUMPUR (Feb 8): From news flow and filings with the stock exchange today, stocks to watch on Wednesday (Feb 13) after the 4-day break may include MMC, Gamuda, Hwang-DBS, Sumatec, MRCB and GuocoLand.

Mass Rapid Transit Corporation Sdn Bhd and MMC-Gamuda KVMRT (T) Sdn Bhd announced that they have signed the agreement for the underground works of the MRT Sungai Buloh-Kajang Line, valued at RM8.28 billion.

MRT Corp’s chief executive officer Datuk Azhar Abdul Hamid said the 9.5 km underground section, situated between the Semantan North Portal and Maluri South Portal, will serve the busiest and congested parts of Kuala Lumpur.

The agreement is for the design, construction and completion of the underground works. The underground works include the construction of tunnels, stations and associated structures along the underground stretch.

MMC-Gamuda KVMRT (T) is a 50:50 joint venture between MMC Corportion Bhd and Gamuda Bhd.

Phase One of the MRT Sungai Buloh-Kajang Line, stretching from Sungai Buloh to Semantan, will be operational by the end of 2016. The second phase, from Semantan to Kajang, will be open to the public by July 2017.

Additionally, Gamuda may get a boost from a Citi report, which recommends a “buy” call, with target price of RM4.02.

“We believe the company is a key beneficiary of the RM22 billion KVMRT-SBK Line, Malaysia's largest infrastructure project to date, given its part as the Project Delivery Partner with MMC. Gamuda's property division is seeing strong property sales which should translate into earnings growth in FY12-14E,” said Citi said in a note given to the Edge.

Hwang-DBS (Malaysia) Bhd may continue to attract trading interest as the Edge Weekly reported that it is in the final stages of hiring a foreign investment bank to the adviser in the disposal of its entire business, mainly in investment banking and stockbroking.

The major shareholders of the listed company, including DBS of Singapore, are said to be keen to sell the whole company.

Three financial institutions – Affin Holdings Bhd, AMMB Holdings Bhd and K&N Kenanga Holdings Bhd – have expressed interest to take over the company.

The share of Hwang-DBS has been rising since late December from RM2.40, surging to a 52-week high of RM3.88 on Feb 5. The share suddenly shot up 14% to RM3.72 on Jan 31, from RM3.26 the previous day. It closed at RM3.79 today, after gaining 14 sen.

Loss-making Sumatec Resources Bhd may also attract some trading interest following a report in the Edge Weekly that its regularisation plan is heading for completion and its oil field in Khazakhtan is producing 300-500 barrels of oil per day.

Its new CEO Chris Dalton said Sumatec could return to the black in the third quarter of 2013, as the company is expected to begin to recognise profits from the sale of oil.

Malaysian Resources Corporation Bhd (MRCB) suspended trading of its shares today as the company is proposing a corporate exercise “involving a very substantial transaction”.

MRCB’s shares, last traded at RM1.26, could see movements depending on how investors and analysts view the exercise. The exercise was not known at press time.

But meanwhile, Lembaga Tabung Haji reported that during Feb 5-6, it had bought a total of 1.2 million shares in MRCB after selling a total of 479,000 shares on Jan 21 and Jan 22.

GuocoLand (Malaysia) Berhad informed that it had during the last 12 months, disposed of quoted securities held as investments in the open market for RM45.28 million. The disposals had resulted in a gain of approximately RM3.22 million.

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  • 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. …