AKN Techmnology: UT Securities likes AKN Technology Bhd for its continuous movement up the value chain in the semiconductor industry. From lead-frame manufacturing, its business has grown to include design, engineering and distribution of chip-sets and programmable logic devices for use in telecommunications infrastructure. The analyst said AKN was one of few companies that survived the sharp downturn in the industry without registering a single quarter of losses. For the nine months to December 2002, AKN reported a net profit of RM18.8mil, more than double the figure in the previous corresponding period. Revenue also surged 42% to RM178.9mil from RM125.7mil. For latest AKN share prices and charts click here
DiGi.Com: News that DiGi.Com plans to more or less maintain last year's level of capital expenditure in 2003 caused OSK Investment Research to lower its pre-tax profit forecast for the mobile telecommunications player by 4% to RM119.2mil for FY2003 and 10% to RM135.8mil for FY04. DiGi is expected to spend RM750mil to expand its network this year. With a 20% share of the mobile market, DiGi is a distant third behind the merged Maxis-Time and Celcom-TM Cellular. The share has under-performed the market barometer by 24% in the last three months. For latest DiGi.Com share prices and charts click here
OYL: A Management succession is in order, as joint group managing director Ho Nyuk Choy will take over at the helm when co-founder and joint group managing director Liu Wan Min retires in three years. AmResearch said earnings growth should be intact, with its Asian operations projected to chart double-digit growth and its European market to see marginal recovery. Investors could also look forward to good dividend payment in view of OYL Industries Bhd management's intention to keep dividend growth in line with profit expansion, AmResearch added. For latest OYL share prices and charts click here
WCT: OCBC Research has an outperform recommendation on this engineering group, which has turned out to be a bit of a specialist in the construction of Formula One racing circuits with its Bahrain contract in hand and with inquiries to build the track in Turkey. Although a small construction company, its order book has more than RM1.6bil worth of contracts, which should keep WCT Engineering Bhd busy for two to three years. In addition, since WCT is part of the consortium that has won the bid for Bakun project, the civil portion of the hydro-electric dam should also further boost its order book. WCT's property development in Bandar Bukit Tinggi, Klang, is also doing well, the analyst said. For latest Aiport share prices and charts click here
MAHB: Malaysia Airports Holdings Bhd can finally plug the cash drain from the Sepang Formula One circuit, which the Finance Ministry has agreed to buy for RM389mil. An analyst estimated the Sepang circuit was operating at a loss of at least RM8mil a year, and MAHB also had to spend another RM8mil on maintenance. The cash disposal would yield an exceptional gain of RM24mil. The analyst said MAHB would also receive RM227mil from the sale of the National Exhibition and Convention Centre in Subang. The cash proceeds from the disposals would be used to pay the KL International Airport's concession fees. The airport concession fee is RM227mil a year, and is payable every January. For latest AKN share prices and charts click here
