KUALA LUMPUR (Apr 3): Based on Bursa announcements and news flow today, companies that may attract investor interest tomorrow (April 4) may include Sapura Kencana, Seal Inc, C.I Holdings, Pharmaniaga, and politically-linked stocks.
Sapura KENCANA PETROLEUM BHD [] has entered into a placement agreement with CIMB Investment Bank, Maybank Investment Bank Bhd and CIMB Securities (Singapore) Pte Ltd for a proposed placement of 587 million new shares at RM2.80 per share.
The group expects to raise RM1.6 billion from the exercise.
Seal Inc Bhd is acquiring some RM41 million worth of tracts in Kedah's Kuala Muda enclave to grow the property developer's operations.
Seal said its 51%-owned unit Seal City Sdn Bhd has entered into a sale and purchase agreement with Ideal Appraisal Sdn Bhd (IASB) to purchase two tracts for RM14.02 million.
Seal also said Koperasi Tunas Muda Sungai Ara Bhd has also appointed the former as its nominee to negotiate the terms and conditions for the purchase of three other sites from IASB for RM26.91 million.
Trading of shares in C.I. HOLDINGS BHD [] (CIH) has been suspended since 9.48am today pending an announcement of a material corporate exercise.
CIH said it is buying the entire stake in Continental Resources Sdn Bhd (CRSB) from its owners for RM42 million in a cash and stock transaction. CRSB is a manufacturer and trader of edible oils.
PHARMANIAGA BHD [] is looking at a 20% increase in pharmaceutical-products manufacturing revenue to some RM400 million by 2014, buoyed by the group's regional growth prospects.
Chairman Tan Sri Lodin Wok Kamaruddin said revenue growth will come from its proposed acquisition of an Indonesian plant.
Pharmaniaga, a 55%-owned subsidiary of BOUSTEAD HOLDINGS BHD [], plans to complete the acquisition of a generic pharmaceutical products manufacturer based in Bandung, for US$28million (RM86.2mil) within the next three to six months.
Politically-linked stocks like UEM LAND HOLDINGS BHD [], GAMUDA BHD [], Boustead Holdings Bhd, and DRB-HICOM BHD [] may be closely watched in anticipation that investors will reduce their holdings ahead of the election, according to analysts.
On the other hand, they said defensive companies in the banking, telecommunication, consumer and real estate investment trust sectors may attract investor demand amid market volatility.
Written by Shalini Kumar of theedgemalaysia.com
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