September 8, 2009

Stocks to watch: Jetson, Hunza, Satang, Nepline

Tags: Hunza | Jetson | Nepline | Satang

Written by Joseph Chin
Tuesday, 08 September 2009 06:34

KUALA LUMPUR: The firmer close in European markets and Bursa Malaysia could continue to underpin sentiment on Sept 8 but investors should be wary of profit taking especially after three days of hefty gains, including Genting.

Morgan Stanley said the current equity rally has further to go adding: "A growth cycle is starting, we intend to buy on weakness."

In Europe, investors jumped into equities on Monday, Sept 7, sending world stocks close to their highest level for the year, while the dollar weakened across the board as demand for riskier assets took hold. Wall Street was closed for the Labor day holiday.

According to Reuters, a weekend agreement by the G20 to keep economic stimuli running helped drive risk appetite. The meeting bolstered the view that interest rates will remain low, sending two-year euro zone government bond yields to historic lows.

The MSCI's all-country world stock index, rebounded 1% after a rare week of losses, and is only a few points off a year high reached in late August.

The pan-European FTSEurofirst 300 index added 1.4%, reversing losses from the previous week, on expectations of mergers and acquisitions after Kraft made a US$16.7 billion bid for Cadbury.
On the local front, stocks to watch include Kumpulan Jetson, Hunza PROPERTIES [], Satang and Nepline.

Two brothers from the Naza Group, who are undertaking a mandatory general offer (MGO) for KUMPULAN JETSON BHD [] with a few others, have raised the offer for the low-profile CONSTRUCTION [] company by a hefty 43%.

They revised upwards to RM1 per share and 93 sen per irredeemable convertible unsecured loan stocks 2002/2012 (ICULS) respectively from 70 sen and 65 sen. The offer price for each outstanding warrant not owned, remains at one sen.

In Hunza Properties, the property developer issued a stop-work order to contractor slightly more than a week after two parties entered into a RM30.41 million construction agreement, apparent differences and disputes have led the developers to issue a stop-work order against the contractor.

Satang Holdings has been granted a temporary reprieve after the Bursa Malaysia Securities gave the company another three months until Nov 26, to undertake a regularisation plan and submit the plan to Bursa Securities for approval

As for Nepline, trading will be suspended on Sept 11 after it failed to submit its regularisation plan to the Securities Commission (SC) within the stipulated deadline.

Nepline, a chartering and shipping operator, was classified as an affected listed issuer in January after the company defaulted on several loan facilities in December 2008. It is also classified as an affected listed issuer.

In Petra Perdana, it does not expect the delay in the delivery of new vessels to have a negative impact. Instead it will take advantage of the current surge in demand for oil and gas-related (O&G) services by retaining older ships to ensure sufficient fleet size to meet demand.

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Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;

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