Glomac: Glomac's share price rebounded to close the week at RM1.80 after hitting a one-year low of RM1.69 last Tuesday. Analysts expect a more meaningful price recovery, going forward, as the steep decline in recent months had made the stock more attractive. According to brokers' data obtained from Bloomberg, five analysts put the stock's fair value at between RM2.75 and RM3.20. Recently announced first-quarter results ended July 31 came in below market's expectations, but the management had indicated a better second quarter. Meanwhile, analysts expect Glomac's earnings to grow 20% in the current fiscal period ending April 30, 2005, and a further 25% during the next year. GLOMAC : [Stock Watch] [News]
Subur Tiasa: Subur Tiasa's share price was confined to a narrow trading range in the past two weeks despite recently announced strong quarterly numbers. OSK Research said the timber company's net profit of RM63mil for the 12 months ended July 31 was well within its forecast. It said sustainable demand from its key market in Japan, tight supply from Indonesia and projected increase from China would reduce global plywood supply and stabilise prices. OSK made a slight revision for Subur Tiasa's target price to RM3.30, after taking into account a possible slowdown in demand and higher effective tax rates. SUBUR : [Stock Watch] [News]
Khee San: Heavy speculative trade pushed Khee San's share price to a four-and-a-half year high of RM1.88 on Thursday. The stock ended 12 sen lower on the last trading day of the week, down to RM1.76, but was still 38% higher compared with where it was two weeks ago. The company, in reply to Bursa Malaysia's query over its unusual market activity, attributed the surge to its improved financial performance. The confectionery products maker registered a pre-tax profit of RM4.36mil for the fiscal period ended June 30, against a pre-tax loss of RM442,000 a year earlier. KHEESAN : [Stock Watch] [News]
Perisai: Record high crude oil prices injected fresh buying interest into this Mesdaq listed oil & gas pipeline maintenance contractor, as the stock raced to a new high of RM1.04 last Friday, the highest level since the counter was listed in July this year. A day earlier, the company said it had proposed to acquire Merit Composite Sdn Bhd for RM3.6mil cash, or at an undemanding three times Merit's earnings – based on the net profit of RM1.2mil guarantee by the vendors for the year ending Dec 31, 2005. Merit develops composite material and technology use to strengthen sub-sea structures and protective circular moulding for application in the marine and oil & gas industry. PERISAI : [Stock Watch] [News]
Mems Tech: MemsTech's proposal to reward shareholder with free shares on a one-for-one basis and a solid full- year results ended July 31, 2004 provided some lift to this stock during the week just ended. The company made a net profit of RM8.2mil last year, while margins remained strong at around 34%. Earnings per share for the year just ended were 2.5 sen. Going forward, MemsTech has confirmed orders valued at US$10mil and is said to be in an advanced stage of securing another US$30mil worth of contracts. Analysts see exciting growth prospects for the rapidly growing technology company. MEMS : [Stock Watch] [News]
The comments above do not represent a recommendation to buy or sell. GLOMAC : [Stock Watch] [News]
