Stocks to watch: DRB-Hicom, Pos Malaysia, Iris, KLK

Saturday, April 23, 2011


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Stocks to watch: DRB-Hicom, Pos Malaysia, Iris, KLK PDF Print

Tags: DRB-Hicom Bhd | HPI Resources Bhd | IRIS Corp Bhd | Kuala Lumpur Kepong Bhd | Pos Malaysia Bhd | PPB Group Bhd | Ranhill Bhd
Written by Joseph Chin of
Saturday, 23 April 2011 11:10
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KUALA LUMPUR: Sentiment on Bursa Malaysia should see some improvement in the week ahead on Monday, April 25 following the fresh corporate newsflow.

However, worries about the impact of the continuing high oil price, inflationary pressures and weakening consumer demand could sap some of the enthusiasm. Oil and gas related counters and also infrastructure stocks could provide some support.

The FBM KLCI index closed 3.58 points down to 1,522.75 on Friday, weighed by losses including at Genting, IOI Corp and Genting PLANTATION []s.

At Bursa Malaysia, stocks which could see trading activity are DRB-HICOM BHD [], POS MALAYSIA BHD, Iris Corp Bhd and KUALA LUMPUR KEPONG BHD . Also in focus could be PPB GROUP BHD, HPI RESOURCES BHD and RANHILL BHD.

Khazanah Nasional Bhd has divested its strategic 32.21% stake in Pos Malaysia to DRB-Hicom Bhd at RM3.60 per share or RM622.79 million, deemed a landmark divestment by the government’s investment arm of its entire stake in a major government-linked company.

On Friday, Pos Malaysia’s share price closed two sen higher at RM3.37 with 595,000 shares done while DRB-Hicom fell two sen to RM2.30 with 2.32 million units transacted.

Pos Malaysia said based on the audited results for the financial year ended Dec 31, 2010, its audited consolidated net profit was RM67.11 million and audited consolidated net assets RM828.59 million.

Iris Corp has secured a US$149.96 million(RM451.61 million) contract from the government of Tanzania to supply 25 million identification cards based on the Smartcard TECHNOLOGY [].

Iris Corp said the contract was for five years, comprising 36 months for implementation and 24 months for maintenance and support. The scope of work and deliverables were 25 million smart cards which shall be used as the National ID cards of Tanzania

Kuala Lumpur Kepong Bhd said its unit KL-Kepong Industrial Holdings Sdn Bhd sold its remaining 40% stake in Barry Callebaut Malaysia Sdn Bhd to Luijckx BV for RM117.68 million cash.

HPI Resources’ net profit for the third quarter ended Feb 28, 2011 soared 121.5% to RM6.94 million from RM3.13 million a year earlier, driven by higher demand. Revenue for the quarter rose by 11.6% to RM105.43 million from RM94.46 million in 2010, while earnings per share was 12.43 sen.

HPI said the strong performance was primarily the result of both its paper milling and corrugated packaging divisions demonstrating double-digit expansion in revenues and operating profits.

Malaysian palm oil trader -- Pacific Inter-Link Sdn Bhd – has filed a suit against PPB Group Bhd’s 18.3% owned Wilmar International Ltd, seeking US$444 million in damages.

Wilmar said its unit Wilmar Trading Pte Ltd (WTPL), was served with a writ of summons on Thursday issued by the High Court of Malaya at Shah Alam.

Pacific Inter-Link had alleged defamation and unlawful interference with its economic interests and business with regard to WTPL's contracts of sale of palm oil products with other parties.

Ranhill Bhd’s unit Ranhill Power Sdn Bhd has received the Securities Commission’s approval to issue up to RM800 million of debt notes which will have a tenure up to 15 years.

The proceeds from the issue will be on-lent to Ranhill to finance in full the redemption of the US$220 million guaranteed notes issued by Ranhill (L) Ltd.

The funds would also be to finance the service reserve account requirement, the first guarantee fees payable and the expenses/ costs incurred in relation to the establishment of the Sukuk, and to on-lend to Ranhill to reimburse advances made by Ranhill to Ranhill Engineers and Constructors Sdn Bhd to complete the CONSTRUCTION of Senai-Desaru Expressway.


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