Thursday, 26 April 2012

Stocks to Watch Dutch Lady, Opensys, TH Plantations, SunREIT, SEGi

KUALA LUMPUR (April 25): Malaysian stocks are expected to exhibit weak technical dynamics on Thursday against global economic volatility and domestic pre-election sentiment.

Analysts said crucial world highlights include the lack of clarity over European countries' ability to manage their sovereign debt woes, and the direction of US monetary policy, the effects of which may dictate the direction of global equities.

The FBM KLCI erased earlier gains to close in negative territory, with a 2.93-point decline to 1,579.35 on Wednesday.

Stocks to watch on Thursday are DUTCH LADY MILK INDUSTRIES BHD [], Opensys (M) Bhd, TH PLANTATION []s Bhd, Sunway Real Estate Investment Trust (SunREIT), and SEG INTERNATIONAL BHD [] (SEGi).

Dutch Lady and Opensys shares will trade ex-dividend on Thursday. Dutch Lady, a manufacturer of dairy products, plans to reward shareholders with a dividend of RM1.30 a share comprising a single-tier interim payout of 50 sen and a special portion of 80 sen for financial year ending Dec 31, 2012.

Opensys, an information TECHNOLOGY [] firm, plans to reward shareholders with a first interim tax-exempt dividend of 5% which is equivalent to 0.5 sen a share for financial year ending Dec 31, 2012.

MIDF Amanah Investment Bank Bhd downgraded TH Plantations shares to a "trading sell" from "neutral", with a lower target price of RM2.12 compared with RM3 previously. This follows a downward revision in MIDF's earnings forecast for TH Plantations by 41% and 33% in financial years ending Dec 31, 2012 and 2013 respectively.

SunREIT said its third quarter (3Q) net profit rose 9% from a year earlier, as the group registered higher turnover from an expanded property portfolio. In a statement to the exchange, SunREIT said net profit came to RM47.55 million against RM43.73 million previously. Revenue was up 19% to RM98.09 million from RM82.35 million.

Private equity firm Navis Capital has made a takeover offer for the remaining shares it does not own in higher education provider SEGi. This follows a shareholders' agreement between Navis and SEG managing director Datuk Seri Clement Hii Chii Kok, who is also the single-largest shareholder in the education entity. This has, in turn, triggered a mandatory general offer obligation for the remaining stake in SEGi. Navis, which already owns 27.84% in SEGi, is offering RM1.714 for each share, and RM1.214 for each warrant in the higher education firm.

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