KUALA LUMPUR (March 19): Based on the announcements to Bursa Malaysia and share movements today, stocks that may stir excitement could include Sunway, Boilermech, Pestech, DKLS, Malaysia Airports and Tebrau.
Sunway Bhd said a subsidiary has secured a contract worth RM304 million from Cititower Sdn Bhd in relation to a car park project under Kuala Lumpur City Centre (KLCC) park.
The company said its unit, Sunway Constuction Sdn Bhd, had accepted a letter of award that includes the CONSTRUCTION [] and completion of north east car park underneath KLCC Park.
The construction of six-level basement car park is expected to commence upon handling over of site possession, which is to be determined later, with a period of 178 weeks.
“It is expected to contribute positively to the earnings of Sunway group from the financial year ending Dec 31, 2013 onwards,” said Sunway.
Boilermech Holdings Bhd reported a higher third net profit of RM6.3 million for the three months to January 2013, up 58.68% from similar quarter in the previous financial year.
For the current quarter and current year to date under review, the group registered higher revenue of RM44.03 million and RM131.28 million respectively.
“This increase in revenue was mainly due to the increase in activity in manufacturing, deliveries and installation of boilers,” the company said, adding the higher margin was contributed by certain higher margin projects.
On prospects, Boildermech said its board “is optimistic on the prospects as the company’s order book remains strong and the financial performance continues to be positive.”
Pestech International Bhd announced that its wholly owned unit Pestech Sdn Bhd has received a purchase order (PO) from RSG, an Australia-listed gold mining company, for a job worth about US$2.9 million.
The PO is in relation to the engineering, procurement and commissioning of a 225kV high voltage substation for the Syama Gold Mine located in the south of Mali, West Africa, according to the company’s announcement.
The PO is valued at US$2.982 million and it is anticipated to commence by April 2013 and to be completed by May 2014.
The company said it also expects additional orders from RSG.
“This would be a major milestone for Pestech as it breaks through another new market in West African region after the earlier successful project in Ghana,” said Pestech, an integrated electric power TECHNOLOGY [] group.
The PO is expected to contribute positively to the future earnings and net assets per share of the group.
DKLS INDUSTRIES BHD [] is selling its commercial property within the central business district in Melbourne, Australia for A$14.95 million (RM48.53 million) to raise funds to repay the company's debt.
DLKS, a construction and property development entity, said it is selling its commercial real estate to Grollo Australia.
"DKLS Aust Trust will primarily utilise the net proceeds from the proposed disposal for the repayment of bank borrowings and advances from its unit holders within DKLS Group within a period of twelve (12) months from the completion of the proposed disposal," the company said.
Upon completion of the sale, DKLS is expected to register a disposal gain of RM3.9 million while its gearing will be reduced to from 0.29 to 0.21 time.
Malaysia Airports Holdings Bhd (MAHB)’s general manager for marketing Mohamed Sallauddin Mat Sah told Bernama airlines from India, which have yet to enter Malaysia, are now keen to do so.
"We have had discussions with several Indian airlines that are keen to fly to Malaysia," he said, adding these airlines might start flying to Malaysia by year-end.
As for Indian Airlines which is currently operating in Malaysia, he said MAHB would try to see if there is an opportunity to increase capacity and expand its services.
Currently, only Air India Express operates direct flights to Malaysia while Jet Airways has ceased operations into Malaysia but continues its code-sharing for the Kuala Lumpur-Chennai sector with Malaysia Airlines.
TEBRAU TEGUH BHD []’s shares, which have been rising unabated by 39.5% since early this month on its link with Iskandar Malaysia developments, may continue to climb if investors carry on chasing it or succumb to profit taking.
Amid optimism, some investors are hoping that that share will rise to RM1.50, said one dealer.
At market close today, it rose by 5% to RM1.27 after two directors from EKOVEST BHD [] joined its board on March 18. As at end-September 2012, the net assets per share of Tebrau stood at 78 sen.
The chairman of Tebrau and Ekovest is Tan Sri Lim Kang Hoo, a politically connected businessman that has interest in many major property projects in Iskandar Malaysia.
The 6th most active stock today has been a favourite of retail investors after the news that its parent company, Iskandar Waterfront Holdings Sdn Bhd, will be heading for listing by June this year.
Written by Ho Wah Foon of theedgemalaysia.com
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