Stockwatch

Eon Capital: EON Capital, which owns EON Bank and EON Finance, is in merger talks with the AMMB group. A merger will create the third largest anchor bank with combined assets of RM87.3bil. EON Capital share price had risen 18% from its recent low of RM2.45 on April 14 even before the news broke last Monday. EON Capital director Rin Kei Mei had raised his stake to 4.17% last month. One seller was Ceria Alam Sdn Bhd. These transactions spark-ed speculation that EON Capital might be the driving force behind the merger. The stock will resume trading today.  

Palmco: THE oleochemicals manufacturer share price hit nearly a 1½-year high of RM4.62 last Friday, a shade higher than the RM4.60 MGO price offered by Sime Darby and IOI Corp about two years ago. But trading was thin. Palmco’s pre-tax profit rose 11% to RM42.7mil and revenue jumped 63% to RM313.4mil for the third quarter ended March 31. Its newly acquired plantation estates spurred its income given the firm crude palm oil prices. The enlarged plantation division also mitigated the impact on margin squeezecaused by rising raw material costs in its manufacturing. 

Reliance Pacific: THE tourism industry, which is facing a tough time now, will be one of the main beneficiaries of the pending stimulus package to be unveiled this week. It is believed the package will consist of relief measures to help sectors affected by the Severe Acute Respiratory Syndrome (SARS) outbreak. Do-mestic tourism is expected to be a critical area in the stimulus package against the backdrop of travel fears. Tourism revenue made up 7.5% of Malaysia's gross domestic product last year. It is also the second largest foreign exchange earner after the manufacturing sector. 

Maruichi: Ovington Finance Ltd has emer- ged as a new shareholder in Ma- ruichi Malaysia Steel Tube Bhd. Ovington, incorporated in the Bri- tish Virgin Islands, paid RM35mil for its 1% stake. The management told the KLSE that its major shareholder Melewar Group had denied buying a 14% stake in Maruichi. The company also said it was not aware of Maju Holdings being a new shareholder and planned to propose a special cash payout. Trading volume spiked up last week. The stock finished at a five-month high of RM2.79 last Friday. 

Camerlin: CAMERLIN share price has surged 27% since beginning of the month to RM1.30 last Friday. The sharp gain is mainly driven by the rise on the share price of its 22.3% associate company BIL International Ltd on the Singapore Stock Exchange. Two tycoons Oei Hong Leong, born in Indonesia, and Tan Sri Quek Leng Chan have upped their equity interest in the loss-making BIL International in the past weeks. The growing interest by the two existing shareholders triggered speculation on a possible takeover tussle in BIL International. 

Palmco: THE oleochemicals manufacturer share price hit nearly a 1½-year high of RM4.62 last Friday, a shade higher than the RM4.60 MGO price offered by Sime Darby and IOI Corp about two years ago. But trading was thin. Palmco’s pre-tax profit rose 11% to RM42.7mil and revenue jumped 63% to RM313.4mil for the third quarter ended March 31. Its newly acquired plantation estates spurred its income given the firm crude palm oil prices. The enlarged plantation division also mitigated the impact on margin squeezecaused by rising raw material costs in its manufacturing. 

Reliance Pacific: THE tourism industry, which is facing a tough time now, will be one of the main beneficiaries of the pending stimulus package to be unveiled this week. It is believed the package will consist of relief measures to help sectors affected by the Severe Acute Respiratory Syndrome (SARS) outbreak. Do-mestic tourism is expected to be a critical area in the stimulus package against the backdrop of travel fears. Tourism revenue made up 7.5% of Malaysia's gross domestic product last year. It is also the second largest foreign exchange earner after the manufacturing sector. 

Maruichi: Ovington Finance Ltd has emer- ged as a new shareholder in Ma- ruichi Malaysia Steel Tube Bhd. Ovington, incorporated in the Bri- tish Virgin Islands, paid RM35mil for its 1% stake. The management told the KLSE that its major shareholder Melewar Group had denied buying a 14% stake in Maruichi. The company also said it was not aware of Maju Holdings being a new shareholder and planned to propose a special cash payout. Trading volume spiked up last week. The stock finished at a five-month high of RM2.79 last Friday. 

Camerlin: CAMERLIN share price has surged 27% since beginning of the month to RM1.30 last Friday. The sharp gain is mainly driven by the rise on the share price of its 22.3% associate company BIL International Ltd on the Singapore Stock Exchange. Two tycoons Oei Hong Leong, born in Indonesia, and Tan Sri Quek Leng Chan have upped their equity interest in the loss-making BIL International in the past weeks. The growing interest by the two existing shareholders triggered speculation on a possible takeover tussle in BIL International.