Hot Stock IRCB suffers limited fall despite bad news ----------Written by Shalini Kumar of theedgemalaysia.com

Hot Stock IRCB suffers limited fall despite bad news
Business & Markets 2013
Written by Shalini Kumar of theedgemalaysia.com
Wednesday, 23 January 2013 12:43

KUALA LUMPUR (Jan 23): INTEGRATED RUBBER CORPORATION [](IRCB) Bhd, which announced yesterday that it is facing possible winding up procedures if it fails to pay back its RM16.89 million debts to Maybank Bhd, did not experience a huge sell-down.

This is despite the company saying in its statement: “There will be a significant impact on the financials and operations of IRCB Group should the winding up proceedings be taken upon the company.”

At 11.37 am, it fell by half a sen or 3.3% to 14.5 sen. Listed as one of the most active stocks in early trades, it hit a high of 15 sen and a low of 13.5 sen before settling at 14.5 sen, with 5.98 million shares done.

According to Goh Kay Chong, a senior dealer with SJ Securities, IRCB’s recent appointment of new director, Cheang Phoy Kean, could be the reason that the share price was not affected as badly as thought.

Cheang, 59, was appointed as managing director of IRCB, following the resignation of major shareholder Tan Keng Beng, after his family sold a 10.98% stake to Cheang via an off-market deal.

“The news about the recent change is probably the reason for shareholders to have some hope. It’s still a PN17 company, but this means new funds are coming in and so the company is going to be in a better position to face the situation,” he said.

Goh added, “Of course, the person (entering the company) should have already known the position of the company, so they probably have the funds to settle the debts.”

IRCB also announced earlier this month the appointments of Cheang’s son, Sean Kar Seng Cheang, as an executive director and Lim Boon Huat as a non-executive director.

Bursa Malaysia filings show that Cheang Phoy Kean emerged as a substantial shareholder in IRCB on Jan 4, following his acquisition of 65 million shares at 15 sen per share. The off-market deal was worth RM9.75 million.

Hot Stock Scomi shares rise on possible vote for IJM entry

Hot Stock Scomi shares rise on possible vote for IJM entry
Business & Markets 2013
Written by Shalini Kumar of theedgemalaysia.com
Friday, 18 January 2013 12:49

KUALA LUMPUR (Jan 18): SCOMI GROUP BHD []’s shares rose in morning trade following a report that some shareholders could be voting for IJM Corp to come in as its biggest shareholder, having previously opposed the move.

Some previous reports indicated that Scomi’s major shareholders wereheaded for a split over IJM’s strategy to acquire a stake of around 25% in the group.

"This should be good news for the company. IJM is a good company even though it is not in the same line. It also means new funds will be coming into the company. I think the resolution should pass at the
meeting,” said Goh Kay Chong, a senior dealer at SJ Securities.

At 12.16pm, Scomi’s shares were trading at 37.5 sen, up half a sen or 1.4%, on 6.88 million shares done, after hitting the most active list. Earlier, it had hit a high of 38 sen.

Scomi’s extraordinary general meeting set for Jan 31 could see the sole resolution of issuing RM110 million worth of convertible redeemable secured bonds to IJM being passed.

IJM first surfaced as a stakeholder in Scomi in September 2012, when it subscribed for a private placement at 33 sen per share, or a total of RM33 million.

Scomi was in debt at the time, since its RM200 million debt papers had been downgraded after a delay in an asset sale in Nigeria that was supposed to have netted it RM57.6 million.

Hot Stock Permaju shares ride on news it may win timber concession -----------Written by Shalini Kumar of theedgemalaysia.com

Hot Stock Permaju shares ride on news it may win timber concession
Business & Markets 2013

Written by Shalini Kumar of theedgemalaysia.com
Monday, 07 January 2013 11:22

KUALA LUMPUR (Jan 7): Permaju Holdings Bhd shares rose in active trades today after news that it may be awarded about 809 hectares of timber concession land in Sabah and Sarawak.

“It’s speculative play that is driven by the news. People could have known about this earlier and bought shares and now that the news has broken, they are selling, while others continue to buy,” said Goh Kay Chong, a senior dealer from SJ Securities.

“This could also be cyclical play, or even pre-election play….[Permaju] is
the darling of the speculators.” he added.

At 10:30am, Permaju was trading at 50 sen, up 1 sen or 2%, on volume of 14.36 million. Hitting a high of 52 sen earlier, it was the third most active counter on the exchange.

According to a news report in a local paper, the outcome of the land concession award will be made known by this month.

The potential concession will make Permaju the single largest land concession owner in Sabah, said the report.

Under the terms of the contract, Permaju will clear the virgin jungle and then plant oil palm. Proceeds from the timber extracted will go directly to Permaju.

Gross proceeds from the timber is expected to be more than RM1 billion, the news report

吉隆坡5日讯）消息透露，佳华（Java，2747，主板工业产品股）与宏进工业（Permaju，7080，主板贸服股）获颁面积20万英亩土地，共30至60年的特许使用权。

消息告诉《南洋商报》，沙巴基金（Yayasan Sabah）近期将20万英亩地段颁给这两家公司，以协助发展以及再植林计划。

“有关地段一部份是可使用30年，一部份的特许使用权长达60年。”但本报无法探悉确实面积。

消息指出，政府主要是清理有关地段供发展和再植林计划，而佳华和宏进工业除了可享有砍伐区内树木的权力，更可在之后与沙巴基金以联营方式发展部份地区。