#Stocks to watch:* S P Setia, Kencana, Boustead, Benalec
Publish date: Thu, 08 Dec 2011, 09:06 PM
KUALA LUMPUR (Dec 9): The FBM KLCI could trade in a tight range on Friday, as the focus turns on the economic data from China over the next two days as well as the crucial summit of European policymakers.
Global markets, however, could edge upwards as the European Central Bank cut interest rates by a quarter of a point on Thursday to counter the twin threats of recession and deflation in the euro zone.
The ECB is also expected to unveil fresh measures to help banks hurt by the bloc's debt crisis, according to Reuters.
At Bursa Malaysia, the market could be given a boost from the slew of fresh corporate announcements.
Among the stocks are S P Setia Bhd, KENCANA PETROLEUM BHD [], BOUSTEAD HOLDINGS BHD [], Benalec Holdings, Bumi Armada Bhd and MELEWAR INDUSTRIAL GROUP BHD [].
S P Setia Bhd set a set a new full-year sales record in FY 2011 of RM3.29 billion, or a 42% increase from the previous record of RM2.31 billion set in FY 2010. The company has also set a target to achieve total new sales of RM4 billion in FY 2012.
For the financial year ended Oct 31, S P Setia's net profit rose 30.2% to RM327.97 million from RM251.81 million, on the back of an increase in revenue to RM2.23 billion from RM1.75 billion in 2010.
However, the offer price cap set by Permodalan Nasional Bhd (PNB) in its takeover bid could restrain any upside.''PNB offered RM3.90 per share and 91 sen per warrant.
Kencana's unit, Kencana HL Sdn Bhd, secured a RM1 billion contract from Bechtel International Inc to fabricate and assemble a liquefied natural gas (LNG) processing plant in Australia.
The contract includes fabrication to loading of process equipment modules for Wheatstone Project LNG plant at Ashburton North, Western Australia.
Boustead subsidiary, Boustead Naval Shipyard Sdn Bhd secured a RM62 million job from the government to supply spare parts, maintenance, integrated logistic support and training for the 17th patrol vessel squadron of the Malaysian navy.
Benalec inked a MoU with Singapore-based Rotary Engineering Ltd to jointly develop an independent deepwater storage terminal for oil products in Tanjung Piai, Johor.'' The MoU would enable it to become a strategic business partner with Rotary in the equity ownership and development of the terminal in Tanjung Piai.
Bumi Armada's subsidiary Armada TGT Ltd has inked a US$341.1 million (RM 1.08 billion) loan with seven financial institutions to fund the conversion and installation of the FPSO Armada TGT 1 to be used in the Te Giac Tran Field, offshore Vietnam.
Its chief financial officer Shaharul Rezza Hassan said the facility was for seven years and represented about 80% of its capex value.
Meanwhile, Melewar's unit Melewar Integrated Engineering Sdn Bhd (MIE) has inked an MoU with KAZMY Steel Company wherein MIE would be the contractor to design and build the MycroSmelt plant in Almaty, Kazakhstan.
Global markets, however, could edge upwards as the European Central Bank cut interest rates by a quarter of a point on Thursday to counter the twin threats of recession and deflation in the euro zone.
The ECB is also expected to unveil fresh measures to help banks hurt by the bloc's debt crisis, according to Reuters.
At Bursa Malaysia, the market could be given a boost from the slew of fresh corporate announcements.
Among the stocks are S P Setia Bhd, KENCANA PETROLEUM BHD [], BOUSTEAD HOLDINGS BHD [], Benalec Holdings, Bumi Armada Bhd and MELEWAR INDUSTRIAL GROUP BHD [].
S P Setia Bhd set a set a new full-year sales record in FY 2011 of RM3.29 billion, or a 42% increase from the previous record of RM2.31 billion set in FY 2010. The company has also set a target to achieve total new sales of RM4 billion in FY 2012.
For the financial year ended Oct 31, S P Setia's net profit rose 30.2% to RM327.97 million from RM251.81 million, on the back of an increase in revenue to RM2.23 billion from RM1.75 billion in 2010.
However, the offer price cap set by Permodalan Nasional Bhd (PNB) in its takeover bid could restrain any upside.''PNB offered RM3.90 per share and 91 sen per warrant.
Kencana's unit, Kencana HL Sdn Bhd, secured a RM1 billion contract from Bechtel International Inc to fabricate and assemble a liquefied natural gas (LNG) processing plant in Australia.
The contract includes fabrication to loading of process equipment modules for Wheatstone Project LNG plant at Ashburton North, Western Australia.
Boustead subsidiary, Boustead Naval Shipyard Sdn Bhd secured a RM62 million job from the government to supply spare parts, maintenance, integrated logistic support and training for the 17th patrol vessel squadron of the Malaysian navy.
Benalec inked a MoU with Singapore-based Rotary Engineering Ltd to jointly develop an independent deepwater storage terminal for oil products in Tanjung Piai, Johor.'' The MoU would enable it to become a strategic business partner with Rotary in the equity ownership and development of the terminal in Tanjung Piai.
Bumi Armada's subsidiary Armada TGT Ltd has inked a US$341.1 million (RM 1.08 billion) loan with seven financial institutions to fund the conversion and installation of the FPSO Armada TGT 1 to be used in the Te Giac Tran Field, offshore Vietnam.
Its chief financial officer Shaharul Rezza Hassan said the facility was for seven years and represented about 80% of its capex value.
Meanwhile, Melewar's unit Melewar Integrated Engineering Sdn Bhd (MIE) has inked an MoU with KAZMY Steel Company wherein MIE would be the contractor to design and build the MycroSmelt plant in Almaty, Kazakhstan.
Discussions
1 person likes this. Showing 50 of 113 comments
Brother Adam Ryan, all the good news I had posted above on
26/12/2011 07:05
I feel that good financial results, dividend paying & shares buyback are good indications of better pricing to come. The past good news is that Benalec had 2 big projects in Johore worth a gross development value (GDV) of RM20 billion.
2011-12-27 01:32
Yes i have read it thanks alot bro chong.... Hope can join u once again after collect some profit for this stock...cheer chong
2011-12-27 04:28
Happy New Year 2012 to you brother Adam Ryan & your love ones too...take care too.
2011-12-27 06:07
go benalec gooo....bought CB 2weeks ago...waitinf for clear tomorow or next week...Thanks chong for ur support...any other stock after this to recomend?
2011-12-29 17:03
Happy to hear brother Adam Ryan is making gains on CB. Maybe you can take a look at WCT & son CE. Today strong buying support at 72%.
2011-12-29 17:12
i got my eyes on WCT & babies too... SYF that ctr took my money... when can i regain back... ? hahaha
2011-12-29 17:56
Brother Kent Lee, forget about the goreng SYF loss, it's over lah. Now seek revenge on Benalec & son CE & also another counter WCT & son CE. I presume revenge will be sweet on these 2 counters...lol
2011-12-29 18:58
Benalec CB half i sold today, gaining 2 sen...half still hold...see tomorow or net week how... Syf is high risks counter to hold...not for long term....if tomorow up again, just cut ur losses...plz dun hold syf so long..TQ
2011-12-29 19:55
And brother Kent Lee, never go for lousy & worthless counters & get yourself burnt. Now read this too & you do your thinking of those money losing counters that you invest in....
Tricubes shares plummet after typo...
Shares of the company behind the MyEmail email project plummeted today, after the company revealed yesterday that it suffered heavier losses than initially reported due to a typo.
The Edge reported that Tricubes Bhd shares fell by 2.5 sen to 18.5 sen today as of 12.30pm, after it told Bursa Malaysia that its accumulated losses stand at RM17.24 million for the financial year ending on March 31, 2011, not RM7.3 million as reported in its 2011 Annual Report.
This followed the company’s submission of the audit of its annual report to Bursa on Sept 7.
Typo error? Why take so long to correct it? Now you put on your thinking cap please & figure it out. Thank you & a Happy New Year to you too.
2011-12-29 20:22
thank you master chong & adam... i lost SYF few months ago... now more vigilant thanks to all at this forum... adam... let me know PLS gud time to buy Benalec, WCT & their sons... (my timing is always off ) hahaha...
2011-12-29 20:30
in trading, no need to hurry or greedy or panic...just watch n control urself...buy before peoples starting buying.... ok i will alert u then... if i found any good new stock....
2011-12-29 20:37
i agree bro... tq appreciate yr help... will buy a round of drinks if we ever had a chance to meet...
2011-12-29 20:42
Yes, around this figure and maybe more next year 2012. Wait another week or so for their financial report....should be good I presume. Maybe the CEO wants to release the good report in 2012 to start Benalec with a big bang....yes, the financial results had been accepted in the AGM a few days ago...so why the delay...must have want to start Benalec in 2012 with a bang...lol
2011-12-30 03:21
Benalec had given the sweetener of a 2 cents dividend & now the main course is the soon to be released financial report ending June 2011. Both had been approved at the recent AGM and only dividend is announced but not the financial results. Like I said start the year 2012 with a good financial report....hee, hee, hee
2011-12-30 03:24
ya...but should sold 1st n buy back in next swing at 1.30....if tomorow can touch 1.40, maybe monday can touch 1.45-1.47...before its down again...then we will buy again in next swing? hope we together focus for this stock until get big ang paw...make money as much u can make...cheer...n happy news year...hope tomorow big profit...
2011-12-30 03:45
chong, today seen like up 2sen again, maybe will touch 1.40 after new years....still holding half....
2011-12-30 11:44
i think so too brother Adam...or maybe afternoon there will be more buying for the fund managers window dressing...so stay with it.
2011-12-30 14:12
Maybe enough for today, but still look better uptrend....after new years maybe can break the resistance at 1.42...hope can go 1.50 after news years....but my personal trget just around 1.40-1.45
2011-12-30 15:20
Wow drop again...still holding half....market red again...Hope on CNY market can fly again....
2012-01-05 01:43
Brother Chong r u still holding this stock? today drop...Back to normal....1.32
2012-01-05 01:44
and also that Benalec get's paid with about 30-40+% of all land reclaimed [correct me please if I am wrong please with this figure] & not cash. Most reclaimed land are sea-side land and so commands a high price if sold later.
2012-01-05 04:34
And remember the the latest project to reclaim 2 pieces of land in Johore which will turn it into a O&G hub & which is very much bigger than the Singapore Jurong Island oil hub...imagine the income derived from these 2 reclaimed projects....so stay with it, buy small first & add more if market picks up.
2012-01-05 04:38
Good news....still holding...if market bull, think to add some more again...
2012-01-05 05:11
Yes brother Adam Ryan , I was attracted to Benalac because of their GDV of $20 billion...that should be one of the good reasons to hold on a bit of Benalec.
2012-01-05 05:20
How abt company performance? Financial? benalec is good stock to hold 4 long term but market up down, can't hold so long......
2012-01-05 05:35
Brother Adam Ryan , so far the company's performance is good as it make a good tidy profit of about 50% of it's revenue. Now
please wait for the quarter financial results which will be out presumably this month & then you decide if you need to add more
shares or not.
RERatio is good at about 11 , NTA is still good as it's almost double the par value...and for the 1st year itself, it's giving a TE dividend though it's only listed on 17th January 2011.....speaks good for the company doesn't it.
2012-01-05 05:50
However, you please do your homework otherwise I lead you to HOLLAND, hee, hee, hee
2012-01-05 05:55
Today europe drop....US just flat....maybe asian market will fall also today...
2012-01-05 05:56
Maybe KLCI will be special, when other markets drop, Burse goes the other way...hehehe..
2012-01-05 09:56
maybe....hahahha....but KLCI drop so much last 2days, dat y maybe rebound back lit bit...
2012-01-05 10:03
BENELAC is shooting up.
Good news to be announce soon.
Be patience is the virtue here
2012-05-04 12:49
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Adam Ryan
yes still holding....any gud news bro?
2011-12-27 00:09