• Business
  • Monday, 08 Mar 2004

  • Zecon: THE attractiveness of this counter lies in the fact that it will benefit from Sarawak Concrete Industries Bhd's (SCIB) takeover of N.S. Water Konsortium Sdn Bhd, the group that is undertaking Negri Sembilan's water supply privatisation.SCIB and Zecon Engineering are connected through Zainal Abidin Ahmad, who is Zecon's group managing director and CEO as well as SCIB managing director and substantial shareholder.The proposed takeover deal, expected to be signed in the next few weeks, is worth about RM2.5bil to RM3bil.  Stock Watch On ZECON 

  • Iris: THERE'S more interest now in electronic identification technology. After the successful rollout of MyKad locally, recent reports indicated that some countries, especially the Middle East, are interested in using this technology. At the same time, MyKad applications are expected to be increased in the future and this will help to boost Iris' revenue. Iris will be using the 0.25sq mm Malaysia Microchip (MM) to replace the larger chip currently used for passports. The MM project has attracted strong interest from several countries. Stock Watch On IRIS 

  • Eksons: THIS low-profile plywood manufacturer has been chosen by K&N Kenanga Research as its proxy for the timber sector turnaround. The research report said demand for thin plywood was generally more stable and less cyclical than thicker plywood, and this is evidenced by the fact that Eksons' two plants have been running at full capacity since they began operations in 1994 and 2001, respectively. Going forward, Kenanga forecasts a net profit of RM15.9mil for FY2004, more than double the RM7.1mil in the previous year on assumption that average plywood prices are at US$290 per cu m. Stock Watch On EKSONS 

  • Affin Holdings: ANALYSTS see the group's proposal to take its 62%-owned unit Affin-ACF Holdings Bhd private and merge its commercial bank and finance arms as a move that would lead to a rise in profits for Affin. While the immediate financial implications of a merger would be positive, there could be bigger savings for the commercial bank once it rationalised the combined operations, particularly those administrative in nature. Analysts are also bullish about the banking sector as they expect earnings to trend higher on the back of an improving operating environment and pick-up in economic activity. Stock Watch On AFFIN 

  • Unisem: Unisem (M) Bhd is finally in the black in the fourth quarter ended Dec 31, 2003. For that quarter, Unisem registered an impressive net profit of RM8.93mil from a net loss of RM4.79mil previously while turnover increased to RM95.06mil from RM57.64mil. OSK Research said although it happened later than expected, the company had recorded the highest quarterly net profit since FY01. The research house has increased its net profit estimates for Unisem in FY04 and FY05 by 48% and 8% respectively due to improving operating environment. Stock Watch On UNISEM

  • Article type: metered
    User Type: anonymous web
    User Status:
    Campaign ID: 1
    Cxense type: free
    User access status: 3

    Did you find this article insightful?


    Across the site