#Stocks to watch:* UOA Devt, Hap Seng, Maybank, Zecon, Faber

  • Karpal and I never quarrelled even though we belonged to different parties, says Ling
    Karpal and I never quarrelled even though we belonged to different parties, says Ling

    Bukit Gelugor MP Karpal Singh and former transport minister Tun Dr Ling Liong Sik never quarrelled or fought, despite being in different parties with competing ideas about politics. This was because the former MCA chairman and the late DAP stalwart had forged a friendship at university, which Dr Ling said stood the tests that politics threw at... …

  • Law students hold candlelight vigil for Karpal
    Law students hold candlelight vigil for Karpal

    A group of first-year law students held a candlelight vigil at the Esplanade in George Town, Penang, tonight for their idol, the late Bukit Gelugor MP Karpal Singh. The students had planned an impromptu vigil for Karpal, who they credited with inspiring them to take up law as a career choice. “We planned the event on Facebook and word got... …

  • Michael Cornelius — Karpal’s loyal ‘other half’
    Michael Cornelius — Karpal’s loyal ‘other half’

    GEORGE TOWN, April 18 — Karpal Singh’s loyal aide Michael Cornelius Selvam Vellu, who also died in the accident that killed Karpal yesterday, was almost like Karpal’s “other half”. The trained... …

  • Umno lawyer calls Karpal ‘one of the most ethical criminal lawyers’
    Umno lawyer calls Karpal ‘one of the most ethical criminal lawyers’

    Umno lawyer Tan Sri Muhammad Shafee Abdullah had plenty of encounters in the courts with the late Karpal Singh but today, he paid tribute to the veteran lawyer who died in an accident yesterday. Shafee said Karpal was “one of the most ethical criminal lawyers” he used to appear with while acting as deputy public prosecutor or counsel for the... …

  • Gerakan calls Karpal elder statesman, Samy Vellu cries over news of death
    Gerakan calls Karpal elder statesman, Samy Vellu cries over news of death

    In an ultimate accolade, Gerakan, DAP’s political rival in Penang, today praised Karpal Singh as an elder statesman and a true Malaysian. State Gerakan deputy president Datuk Dr Cheah Soon Hai said Karpal was one of the few people in the country who had left a legacy. He said the former DAP chairman was a legend in both the political and... …

  • Abdullah pays tribute to Karpal’s life of service – Bernama
    Abdullah pays tribute to Karpal’s life of service – Bernama

    Former prime minister Tun Abdullah Ahmad Badawi said Karpal Singh, who died in a road accident yesterday, led a life of tireless commitment and service to the people.  “We are poorer for the loss of a great legal mind and a crusader for justice and human rights," he said as he extended condolences to the family of the former DAP chairman and... …

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.

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  • 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... …

  • Langkawi BN MP pokes fun at Karpal Singh’s remains The Malaysian Insider
    Langkawi BN MP pokes fun at Karpal Singh’s remains

    As the nation mourns the passing of a great politician, BN MP Datuk Nawawi Ahmad insulted the late Karpal Singh by posting a picture of the veteran politician's blood-smeared face as he lay in his Toyota Alphard following a tragic accident this morning. Along with the Facebook picture was a newspaper cutting on Karpal being opposed to the... …

  • 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... …