KUALA LUMPUR (August 12): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (August 13) may include the following companies :
Ship builder COASTAL CONTRACTS BHD [] has secured the sale of two marine vessels with a collective value of some RM170 million.
Coastal said the sale involves an anchor handling tug supply vessel, and a subsea support / maintenance unit.
ORIENTAL HOLDINGS BHD [] is selling its 100% stake in Oriental Kyowa Plastic Industries (Shanghai Pudong New Area) Co. Ltd to Shanghai HuiYang Industry Co Ltd for RMB144.23 million (about 76.4 million).
According to Oriental, the sale of Oriental Kyowa which is dormant, aims to streamline the group's plastic operations.
Meanwhile, the proposed takeover offer of OSK HOLDINGS BHD [] by major shareholder and director Tan Sri Ong Leong Huat and friendly parties at RM1.68 a share is seen as “not fair and not reasonable", independent adviser Affin Investment Bank Bhd said.
Affin said in its independent-advice circular that its view takes into account several factors. These include the fact that the offer price is lower than the estimated revised net asset value of OSK Holdings at between RM1.88 and RM2.15.
Affin has also noted OSK Holdings’ expected positive future performance. This is in anticipation that OSK Holdings will register income from its investment PROPERTIES [], and capital-financing business, besides contribution from the firm’s 9.7% stake in RHB CAPITAL BHD [].
Scomi-related stocks may also be closely watched. Bernama reported that SCOMI ENGINEERING BHD [], the engineering arm of Scomi Group, is participating in the bidding process for three monorail projects in India that will add an additional order book value of up to RM1 billion to the company.
Scomi Engineering chief executive officer Kanesan Veluppillai said the bidding process for the projects, namely Kerala, Chennai and Delhi Monorail, will be over in the next few months and the company hopes to know the outcome by this and next quarter.
Rubber glove manufacturers such as Top Glove Corp Bhd, Supermax Corp Bhd, KOSSAN RUBBER INDUSTRIES BHD [], and HARTALEGA HOLDINGS BHD [] may attract market interest after China's Guangdong province reported its first case of H7N9 bird flu last Saturday (August 10).
According to news reports, a 51-year old woman known as Chen who was hospitalised since August 3, is in critical condition.
Written by Chong Jin Hun of theedgemalaysia.com
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