#Stocks to Watch* Scomi, BTM Resources, Salcon and Southern Steel

  • PR would have suffered serious losses in 2013 polls if hudud was major issue, says DAP
    PR would have suffered serious losses in 2013 polls if hudud was major issue, says DAP

    Pakatan Rakyat would have suffered devastating setbacks in Perak, Pahang, Negri Sembilan and Melacca if it had made hudud a major issue in last year’s general election, DAP advisor Lim Kit Siang said. The Gelang Patah MP (pic), who had earlier said hudud was never a vote-winner for PAS in previous elections, gave an illustration of how PR... …

  • Court acquits PKR rep, rules 10-day notice in public assembly act ‘unconstitutional’
    Court acquits PKR rep, rules 10-day notice in public assembly act ‘unconstitutional’

    The Court of Appeal today struck out the charge against Selangor's deputy speaker Nik Nazmi Nik Ahmad who was charged under the Peaceful Assembly Act for failing to give police a 10-day notice for a rally last year. A three-man bench led by judge Datuk Mohamad Ariff bin Md Yusof also ruled in a unanimous decision today that Section 9 (1) of... …

  • Assembly law cannot criminalise public gatherings, court rules
    Assembly law cannot criminalise public gatherings, court rules

    PUTRAJAYA, April 25 ― The Court of Appeal today unanimously ruled it unconstitutional to criminalise spontaneous public assemblies in breach of the 10-day notice required under the Peaceful... …

  • Albukhary International University withdraws decision to cease operations – Bernama
    Albukhary International University withdraws decision to cease operations – Bernama

    The Albukhary International University (AiU) in Alor Setar, Kedah has withdrawn its decision to cease operations. Second Education Minister Datuk Seri Idris Jusoh said the ministry was informed of the matter by the management of AiU through a letter Wednesday. "With that decision, the matter is no longer an issue," he told reporters... …

  • Jalan Bukit Bintang stretch remains closed to traffic
    Jalan Bukit Bintang stretch remains closed to traffic

    The 500m stretch of Jalan Bukit Bintang (Jalan Tun Razak-bound) between Chulan Square and Menara Worldwide will remain closed to all traffic, said Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) today. At 10.42pm last night, a sinkhole appeared at the left lane of Jalan Bukit Bintang, said MRT Corp in a statement released this morning. The... …

  • Bible ban in Pahang hotels draws flak
    Bible ban in Pahang hotels draws flak

    Islamic authorities in Pahang have overstepped their jurisdiction by banning non-Muslim religious materials in hotels in the state, say political and religious leaders. The Pahang Islamic and Malay Customs Council's (Muip) recent prohibition is the first ever such ban to be issued in the country involving hotels, and has drawn strong criticism... …

KUALA LUMPUR (Jan 16): Based on filings with Bursa Malaysia, stocks to watch on Thursday could include Scomi Group Bhd, BTM Resources Bhd, Salcon Bhd and Southern Steel Bhd.

Scomi Group announced on Wednesday that it would hold an EGM on Jan 31 to vote on a proposed issuance of convertible redeemable secured bonds with an aggregate value of RM110 million that will pave the way for IJM Corp Bhd to hold a 24.34% stake in the company.

The purpose of the EGM is to seek shareholders’ approval for the proposed bond issue, together with a completed placement, that will not only turn IJM into a strategic partner of Scomi but also help Scomi meet its debt obligations. The proposed bond issue would allow Scomi to fully repay a loan facility due on Feb 13.

As there are shareholders who fear their stakes in Scomi could be diluted by this exercise, the EGM may be a stage for a showdown between the decision makers and the disgruntled shareholders.

Meanwhile, Shah Hakim @ Shahzanim Bin Zain –- a key proponent of the IJM partnership -- announced to Bursa Malaysia that he had bought 500,000 shares at 35.5 sen apiece on the open market on Jan 11. This raises his stake to 11.18%.

Besut Tsuda Wood Products Sdn Bhd, a wholly-owned subsidiary of BTM Resources Bhd, has entered into a RM6.8 million log supply agreement with Gimzan Plywood Sdn Bhd (GPSB) for two years. The agreement will provide BTM with a steady supply of logs as raw material for its sawmill operations, and at a 10% discount to market price for various types of logs. The agreement is expected to contribute positively towards the company's earnings in 2013 and 2014.

Salcon Bhd said its unit had bagged a RM110 million contract from the Ministry of Energy, Green Technology and Water's Sewerage Services Department. The contract is expected to contribute positively to its earnings and net assets. The contract will cover all works associated with the sewage rationalisation within the South Klang sub-catchment area for the next four years.

Southern Steel Bhd may attract some trading interest after the company announced that its substantial shareholder and director Datuk Dr Tan Tat Wai had bought 2.76 million shares on Jan 16.

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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. …