JL's Stock Picks and Coverages

Market Happenings.

Callmejholow
Publish date: Tue, 04 Jun 2019, 10:31 AM
Callmejholow
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I will share some info and coverage on some stocks whom I think deserves more shoutouts!
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Here's a little excerpt of the market happenings in the last 30 days or so...
 
 
Taliworks concludes talks with Air Selangor. Taliworks Corporation Bhd said its wholly-owned unit Sungai Harmoni Sdn Bhd has completed its negotiations with Pengurusan Air Selangor Sdn Bhd (Air Selangor) on the operations and maintenance of the Sungai Selangor Water Treatment Plant Works Phase 1 (SSP1). In a filing with Bursa Malaysia, Taliworks said towards this end various agreements were executed by Sungai Harmoni and the relevant parties. 
 
Malayan Flour Mills seeks partner to develop processed poultry products. Malayan Flour Mills Bhd (MFM) is keen to partner with other companies, as it seeks to establish a solid foothold in the downstream segment of its poultry integration segment. 
 
D'nonce plans rights issue to repay borrowings. D'nonce Technology Bhd announced it aims to raise gross proceeds of at least RM8.0m via a renounceable rights issue to repay bank borrowings. This involves the issuance of up to 315.1m rights shares and 315.1m irredeemable convertible preference shares (ICPS), on the basis of one rights share and one ICPS for every existing ordinary share in D'nonce. 
 
Court fixes Monday to hear Seacera’s application to declare notice for EGM null and void. The High Court has fixed Monday to hear Seacera Group Bhd’s application for a declaration that a notice of extraordinary general meeting filed by a group of shareholders is null and void. The PN17 Company said this in a filing with Bursa Malaysia with regards to the notice of EGM dated April 30. 
 
Econpile 3Q net profit down but optimistic about winning new jobs. Econpile Holdings Bhd’s net profit declined 8.3% to RM21.8m in its third quarter ended March 31 (3QFY19) against RM23.7m a year ago due to the deferment of infrastructure projects and a slow construction market. Quarterly revenue declined 32.6% to RM138.3m from the RM205.1m posted a year prior, according to the filing with Bursa Malaysia. Earnings per share (EPS) shrank to 1.63 sen from 1.77 sen in the previous corresponding quarter. 
 
KNM bags works totalling RM97.7m. KNM Group Bhd announced to Bursa Malaysia that it has secured three contracts in Vietnam, Belgium and Johor worth approximately RM97.7m combined. The first contract was a purchase order from TPSK Consortium to supply shop assembled large columns for Package A1 of a  Petrochemical Complex in South of Vietnam, worth USD12.8m (around RM53.4m). The job was secured by its wholly-owned unit KNM Process Systems Sdn Bhd. 
 
Scomi Group proposes corporate exercises to boost financial position. Scomi Group Bhd (SGB) plans to undertake a series of corporate exercises, including a share capital reduction, a four-for-one share consolidation and a rights issue of shares with warrants, to put it on a firmer financial footing. In a filing with Bursa Malaysia, the oilfield and transport solutions group said it proposed to reduce its issued share capital from RM225.0m to RM40.0m. 
 
Hengyuan plans to commence Euro 4M production ahead of January 2020 deadline. Hengyuan Refining Co Bhd is expecting to begin production of Euro 4M Mogas gasoline in the fourth quarter of this year, ahead of the January 2020 deadline fixed by the government previously to roll out the fuel standard. Hengyuan chairman said the group has allocated USD205.3m or RM852.0m for capital expenditure to upgrade refinery capabilities in fiscal year ending Dec 31, 2019 (FY19). 
 
Pipemaker Fitters calls on govt to address funding gap in fixing country's water pipes. Fitters Diversified Bhd is calling on the government to come up with a solution to raise the funds required to overhaul the water piping system in the country. Its managing director pointed to news reports that highlighted that over 42,000km of old asbestos-cement (AC) pipes need to be replaced to reduce leakages and water wastage. 
 
Damansara Realty to raise RM15.9m via private placement. Damansara Realty Bhd (DBhd), a property developer and integrated facilities management group, plans to raise up to RM15.9m in a private placement to support its business expansion and revival of its bauxite mining activity. The private placement of up to 10% of DBhd’s share capital involves the issuance of up to 31.8m new shares, it said in a statement. 
 
Velesto Energy expects stronger earnings in H2. Velesto Energy Bhd expects to record stronger earnings in the second half of this year, leveraging on a better utilisation of its jack up rigs. The president said despite the prevailing volatility in oil and gas prices, there had been a significant improvement in activities locally and globally, hence, the company was also seeing an increase in utilisation rate. 
 
TA Global's 1Q net profit falls to RM121.7m. TA Global Bhd’s net profit for the first quarter (1Q) ended March 31, 2019 decreased to RM121.7m from RM230.2m in the same period last year. Revenue declined to RM193.9m from RM979.6m previously, it said in a filing with Bursa Malaysia. 
 
Paramount says planning overseas property venture. Paramount Corp Bhd said the group is currently in talks with potential partners for its venture into overseas property markets within the next five years. Paramount group chief executive officer told reporters after the group's annual general meeting that his team is currently studying the residential property markets in Thailand, Vietnam, Australia and the Philippines, and aims to pursue one or two of these markets under its five-year plan starting 2020. 
 
Perdana Petroleum bags OSV job from Petronas. Perdana Petroleum Bhd's unit clinched a three-year umbrella contract for offshore support vessel services for Petroliam Nasional Bhd (Petronas)'s petroleum arrangement contractors' (PAC) drilling and project activities. In a bourse filing, the group said its wholly-owned subsidiary Perdana Nautika Sdn Bhd (PNSB) had acknowledged receipt of a letter dated April 9, 2019 from Petronas appointing the company as a panel contractor. 
 
YTL's Yeoh Sock Siong now managing director of Lafarge Malaysia. Lafarge Malaysia Bhd announced that it has appointed Datuk Seri Michael Yeoh Sock Siong as the managing director. In a bourse filing, the group said Michael, 58, had been redesignated to be the group's managing director, from previously being an executive director. 
 
Southern Steel posts second quarterly loss at RM42.0m. Southern Steel Bhd reported a second straight quarterly loss as it incurred a net loss of RM41.6m in its third quarter ended March 31, 2019 (3QFY19), due to lower selling prices and challenging market conditions. The group recorded a net profit of RM52.3m in the same quarter a year ago. 
 
Malton announces partnership participation for Pavilion Bukit Jalil Mall project. Malton Bhd has announced the participation of Qatar Investment Authority (QIA) and controlling shareholder Tan Sri Desmond Lim Siew Choon in the development and ownership of the iconic Pavilion Bukit Jalil Mall, one of the largest regional shopping malls in the country. Malton’s wholly-owned subsidiary, Khuan  Choo Realty Sdn Bhd, QIA’s wholly-owned subsidiary Q PBJ Sdn Bhd, and Lim’s private vehicle, Jelang Tegas Sdn Bhd, inked a subscription agreement on May 28, 2019 with Regal Path Sdn Bhd to partake in the development of the Pavilion Bukit Jalil Mall, it said in a statement. 
 
Harn Len to offer 52.0m warrants and ESS scheme in 3Q19. Harn Len Corp Bhd is aiming to offer 52.0m warrants and an employee share scheme (ESS) of 15% of the group's total shareholdings, targeted to be completed in the third quarter of 2019 (3Q19). According to a bourse filing, Harn Len is issuing the warrants to gain additional working capital upon the point at which the warrants are exercised, and strengthen its capital base. Furthermore, the group said it is looking to increase shareholder equity participation. 
 
ARB secures RM60.4m residential development IoT job. ARB Bhd, formerly known as Aturmaju Resources Bhd, said it has secured a RM60.4m contract to carry out Internet of Things (IoT) systems, engineering, procurement, commissioning and management works for a proposed residential development at Shah Alam, Selangor. In a filing, the group said its indirect wholly-owned subsidiary Arbiot Sdn Bhd had accepted a letter of award (LoA) from Prinsiptek Corp Bhd's subsidiary Prinsiptek (M) Sdn Bhd to carry out the works. 
 
 

 

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