Stocks To Watch - Astro, JT, BIMB, Armada, Bursa

KUALA LUMPUR (Mar 31): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (April 1) may include the following companies :

Pay TV operator Astro Malaysia Holdings Bhd's net profit rose 34% to RM111.4 million in the fourth quarter ended January 31, 2014 (4QFY14) from RM83.2 million a year earlier. Revenue climbed to RM1.26 billion from RM1.13 billion.

Full-year net profit increased to RM447.9 million from RM418 million. Revenue was higher at RM4.79 billion versus RM4.26 billion.

Astro plans to pay total dividends of three sen a share for the quarter in review. These comprise a fourth interim dividend of two sen and final payout of one sen.

The 4QFY13 dividends bring the full-year figure to nine sen a share.

JT International Bhd has received a take-over offer from its controlling shareholder Japan Tobacco Inc at RM7.80 a share.

JT International said Japan Tobacco which already owned 60.37% of the former, was planning to buy the remaining 39.63% in the company. Japan Tobacco does not intend to maintain the listing status of JT International on Bursa Malaysia.

Trading of JT International shares was suspended between 4.22pm last Friday (March 28) and 5pm today. Prior to the suspension, the stock was traded at RM6.50.

JT International shares will resume trading tomorrow.

Islamic financial services entity BIMB Holdings Bhd proposed a final single-tier dividend of 8.5% for the year ended December 31, 2013. Based on BIMB shares' par value of RM1 each, the dividend translates into 8.5 sen a share.

The dividend is subject to BIMB shareholders' approval at the forthcoming 17th annual general meeting of the group. The dividend will bring BIMB's full-year dividends to 12 sen a share.

Italy-based oil and gas firm eni S.p.A. plans to appoint a consortium which includes Bumi Armada Bhd to undertake a floating production, storage and offloading (FPSO) unit charter, operation and maintenance job in Angola.

The project is valued at US$2.9 billion (approximately RM9.5 billion). The consortium has received the letter of intent from eni Angola S.p.A, a wholy-owned unit of eni.

In a separate statement, Bumi Armada said its unit Armada Kraken Pte Ltd had secured a syndicated bridge loan amounting to US$750 million (RM2.45 billion).

The lenders are Oversea-Chinese Banking Corp Ltd, Maybank International, Sumitomo Mitsui Banking Corp, United Overseas Bank Ltd, Export-Import Bank of Malaysia Bhd and Korea Development Bank.

"The facility is presently expected to have an impact on the NA (net assets), earnings and gearing ratio of the Bumi Armada group for the financial year ending 31 December 2014 and the subsequent financial periods," Bumi Armada said.

Bursa Malaysia Bhd and Malaysia Airports Holdings Bhd (MAHB) may be closely watched as both stocks will trade ex-dividend tomorrow.

Stock exchange operator Bursa plans to pay a  single-tier final dividend of 16 sen a share.

Meanwhile, airport operator MAHB intends to reward shareholders with a final single-tier dividend of 5.78 sen a share.

Written by Chong Jin Hun of theedgemalaysia.com