#Stocks to Watch* Telcos, Astro, Daya Materials, Bintai Kinden, Bina Darulaman, Tiger Synergy, ...

KUALA LUMPUR (Dec 5): The FBM KLCI could ride on the momentum from Wednesday and extend its gains on Thursday in line with the improved sentiment at key regional and European markets.

The euro hit a seven-week high, and European shares continued their recent rally on Wednesday after comments from China's new leader boosted global growth expectations, according to Reuters.

Asian equities had set the upbeat tone, hitting a 16-month high after remarks from new Communist Party chief Xi Jinping, who said that the government aimed to stabilise exports and make policies more targeted and effective, it said.

Among the stocks that could be in focus on Thursday on Bursa Malaysia are telecommunication (telco) companies; Astro Malaysia Holdings Bhd; Daya Materials Bhd; Bintai Kinden Corp Bhd; Bina Darulaman Bhd; Tiger Synergy Bhd; and Bolton Bhd.

The Malaysian Communications and Multimedia Commission (MCMC) has named eight companies that have won the 4G-LTE spectrum band, including Celcom Axiata Bhd, Digi Telecommunications Sdn Bhd, Maxis Broadband Sdn Bhd and Tan Sri Syed Mokhtar Al-Bukhary's Puncak Semangat Sdn Bhd.

The four other allowed access to the 2,600 MHz spectrum band were Packet One Networks (M) Sdn Bhd, REDtone Marketing Sdn Bhd, U Mobile Sdn Bhd and YTL Communications Sdn Bhd. Interestingly, nine companies were said originally slated for the award instead of eight. The ninth company was supposed to be smallish AsiaSpace Sdn Bhd.

Astro Malaysia's net profit for the third quarter ended Oct 31, 2012 rose 14.08% to RM118.09 million from RM103.51 million a year earlier, due mainly to increase in subscription revenue.

The pay-TV company said on Wednesday that its revenue for the quarter rose to RM1.08 billion from RM995.31 million in 2011.

Astro Malaysia declared an interim single-tier dividend of 1.5 sen per share of 10 sen each to be paid on Jan 11, 2013.

Daya Materials unit Daya CMT Sdn Bhd has won a contract from B Braun Medical Industries Sdn Bhd worth RM108 million.

Daya Material in a filing Wednesday said that the project entailed the construction of one new 6-Storey manufacturing facility factory at the Bayan Lepas Free Trade Zone in Penang.

Bintai Kinden, a mechanical and electrical engineering specialist, has clinched a project worth S$85.85 million (RM214.32 million) from Samsung C&T Corp to undertake improvement works for the Suntec City Convention Centre in Singapore.

In a statement to Bursa Malaysia on Wednesday, Bintai Kinden said Samsung, which is the main contractor for the project, has appointed Bintai Kinden's 69.82%-owned subsidiary Bintai Kindenko Pte Lt as the subcontractor for the job.

Bina Darulaman's wholly-owned subsidiary Kedah Sato Sdn Bhd has accepted a contract worth RM27.56 million from Bertam Properties Sdn Bhd.

The contract is to build and complete a housing scheme for a total of 109 units for a combination of single and double storey terraces and semi-detached.

Kedah Sato, a Class A contractor, is expected to complete the project by March 11, 2014 as the contract is for a 16 month period.

The project is expected to contribute positively to BDB's revenue for the financial years 2013 and 2014, the group said in a filing to Bursa Malaysia today.

Tiger Synergy Bhd said it has not been approached by any party nor received any notice in relation to takeover and restructure of board members.

Responding to reports to two local dailies on Dec 3 and Dec 4 respectively in relation to the takeover and restructure board members of Tiger Synergy, the company said it had made inquiries to its new substantial shareholder, Datuk Seri Abdul Azim Bin Zabidi.

It had been reported that Tiger Synergy Bhd emerged as the top active counter today following a plan to be taken by Abdul Azim Zabidi to replace the entire board as early as tomorrow.

Meanwhile, Bolton will be launching its high end project, its Tijani Ukay on Thursday, which has a gross development value of RM300 million, located on a 23-acre leasehold land in Ukay Perdana, Hulu Kelang.

Tijani Ukay is a modern contemporary design with low density development consisting eight units of bungalows and 110 units of zero lots bungalows priced from RM2.4 million within a gated and guarded community.

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MARKET MOVERS

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    Most Actives
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    0.115-0.002-1.71%
    B22.SI
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    5GJ.SI
    2.27+0.090+4.13%
    5ME.SI
    2.190.0000.00%
    JS8.SI
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    E5H.SI
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    0.162+0.034+26.56%
    5GF.SI
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    5WD.SI
    0.59+0.050+9.26%
    L5I.SI
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    C33.SI
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    5UE.SI
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    0.103-0.010-8.85%
    5OS.SI
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    5RC.SI
    0.355-0.025-6.58%
    KJ9.SI
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    5PC.SI