SHARES of Pelikan International Corp Bhd closed at RM3.20 last Friday, the best level since it took over Diperdana Holdings Bhd's listing status more than a year ago. The stock had surged 83% year-to-date, largely on positive news flow and robust growth outlook. Last week, OSK Research reaffirmed its buy call on Pelikan with a target price of RM3.73. It said at current price levels, the stock was undervalued compared to its peers with similar global presence. Pelikan is likely to complete the disposal of its 20% stake in Konsortium Logistik Bhd in the first quarter of next year, a move that would generate around RM40mil cash.  

PELIKAN :  [Stock Watch]  [News

Kossan Rubber  

KIM Eng Research expects Kossan Rubber Industries Bhd to sustain its strong double-digit earnings growth rate until 2008 on capacity expansion, amid rising demand for rubber gloves from international buyers.  

It currently has 75 production lines capable of producing 6 billion pieces of glove a year. New lines being added would lift capacity to 7.5 billion pieces a year by the middle of 2007.  

The research house predicted that Kossan's earnings would rise to RM39mil for the year ending Dec 31, 2006, and to RM52mil next year. Revenue is expected to jump from RM557mil this year to RM657mil in 2007.  

KOSSAN :  [Stock Watch]  [News


SHARES in Dialog Group Bhd may test new highs in the coming weeks amid bullish calls by analysts. The company released its first-quarter results ended Sept 30 last week, showing significant improvements compared with a year ago. The market expects the group to have its best performance to-date in the current year ending June 30, 2007.  

Chairman and managing director Ngau Boon Keat said last week the oil and gas services provider was expanding operations to new overseas markets. It is also eyeing more construction projects at home and around the region to boost revenue.  

DIALOG :  [Stock Watch]  [News

MK Land 

MK Land Bhd shares remained near historical lows despite the recent price upsurge as the stock rose to end last week at 56.5 sen.  

While the market expects 2007 will be another soft year for the property developer – only RM300mil worth of new properties planned to be launched next year – most believe the worst is over for the group.  

MK Land's crown jewel is the 750 acres of prime land in Damansara Perdana, which has a gross development value of about RM8bil.  

MKLAND :  [Stock Watch]  [News


AFFIN Securities raised its forecast for Acoustech Bhd last week after the audio equipment maker announced stronger-than-expected results in the first half-year ended Sept 30.  

It now projected Acoustech's net profit to reach RM24.3mil, or 14 sen per share, for the year ending March 31, 2007, against RM16.6mil, or 9.6 sen per share, made in the previous year. Assuming that the dividend payout would remain at 10.5 sen per share, the stock was yielding an attractive 10% as of last Friday's closing price of RM1.04.  

ACOSTEC :  [Stock Watch]  [News]

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

RAM: Citibank Bhd’s AAA rating unaffected by consumer business exit
Quick take: Innature extends gains, climbs 1.44%
Ringgit slips as crude prices ease
Firm debut for CEKD amid cautious market
Investors take profit, track Wall St decline
Quick take: Aeon Credit shares rise as profits jump 46% in 2Q
Trading ideas: Reservoir Link, Pecca, Icon, NPC, MY EG,
MRCB's full control of LRT3 JV to improve profitability
Lucid to start deliveries of electric cars with range exceeding Tesla's in October
Saudi launches $13 bln plan to turn coastal region into tourism hub

Stories You'll Enjoy