KUALA LUMPUR (Oct 7): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (October 8) may include the following companies :
A joint venture (JV) between Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) and Technip has secured a "substantial" oil and gas support-services contract from the upstream arm of Petroliam Nasional Bhd (Petronas).The contract is believed to be worth at least RM1 billion.
MHB said the JV between its wholly-owned unit Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) and Technip, has received confirmation from Petronas Carigali Sdn Bhd for the engineering, procurement, CONSTRUCTION [], installation and commissioning (EPCIC) job.
This for the development of two offshore gas fields known as Block SK316 in Sarawak. MHB did not specify the value of the contract, only indicating that "for Technip, a substantial offshore contract ranges from €250 million (RM1.08 billion) to €500 million (RM2.16 billion).
TAS Offshore Bhd has secured an estimated RM38 million sale for an anchor handling tug supply vessel. The ship builder, said it has sold the vessel to one of its new foreign customers.
TAS said the vessel is scheduled for delivery this month. "The revenue generated from the contract is expected to contribute positively to the earnings and net assets of TAS group for financial year ending 31 May 2014," the firm said.
Prestariang Bhd has clinched a RM20 million contract from the Education Ministry. Under the three-year deal, Prestariang will supply licensed software and related value-add services to all public institutions of higher learning including universities, polytechnics, and community colleges in Malaysia.
Inari Amertron Bhd has refuted rumours that Malaysian state-owned investment arm Khazanah Nasional Bhd will take a 20% stake in the electronic component manufacturer. The clarification by Inari is in response to a media report on the matter.
According to the news report, Inari may place out a 20% stake to Khazanah. In exchange, Inari will be given a stake in semiconductor manufacturer Silterra Malaysia Sdn Bhd which is 98% owned by Khazanah.
PLANTATION [] companies’ shares may be closely watched. This comes ahead of the Malaysian Palm Oil Board's announcement of the sector's September inventory data this Thursday (October 10).
Reuters reported that Malaysian palm oil stocks may have jumped to their highest in six months in September as strong seasonal output outweighed robust export demand, a Reuters survey showed, pressuring prices that have already lost about 5 percent this year.
Inventory in the world's No.2 palm oil producer likely climbed to 1.91 million tonnes, the highest since April and up 14.8% from 1.67 million tonnes in August.
Written by Chong Jin Hun of theedgemalaysia.com
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