Friday, May 20, 2011

#Stocks to watch:* Transmile, CBIP, Favelle Favco, Malton

KUALA LUMPUR: Stocks which could see trading interest on Friday, May 20 following fresh corporate developments include TRANSMILE GROUP BHD [], CB INDUSTRIAL PRODUCT HOLDING [] Bhd (CBIP) and MALTON BHD [].

Bursa Malaysia Securities Bhd has dismissed Transmile's appeal and the beleaguered air cargo transport company will be delisted on Tuesday, May 24.

Bursa Securities said on Thursday, May 19 that it decided to dismiss the appeal after considering the facts and circumstances.

CBIP's unit Modipalm Engineering Sdn Bhd has secured a RM32.28 million contract to build a palm oil mill in Sabah.

CBIP secured a contract from Winsome Brantian Palm Oil Mill Sdn Bhd to build the mill with a capacity of 45 tonnes of fresh fruit bunches an hour.

FAVELLE FAVCO BHD [] has secured four contracts totaling RM50.30 million to build tower cranes for four clients.

Its contract was to build an offshore crane for Keppel Fels Ltd and Cosco (Nantong) Shipyard Co., Ltd.

The other two contracts were with Backam Engineering Corp and Form 700

Pty Ltd to supply a tower crane each.

Malton Bhd's earnings surged 620% to RM26.28 million from RM3.64 million a year ago, underpinned by higher billings from the property development division.

Its revenue increased by 79.4% to RM116.38 million from RM64.89 million while pre-tax profit increased by 512.7% to RM38.6 million from RM6.3 million. Earnings per share were 7.55 sen compared with 1.05 sen.

HUNZA PROPERTIES [] BHD [] reported net profit of RM11.13 million in the third quarter ended March31, 2011, a marginal increase from the RM11.07 million a year ago.

Its revenue rose 13.3% to RM66.19 million from RM58.38 million while earnings per share were 5.92 sen compared with 6.94 sen. ''It proposed a special interim single-tier dividend of 2.5 sen per share.


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