Written by Joseph Chin of theedgemalaysia.com
Monday, 25 July 2011 20:00
KUALA LUMPUR: KNM GROUP BHD  and ZECON BHD  are expected to generate trading interest are announcing plans for a massive RM17 billion development at Teluk Ramunia, Johor.
Other stocks which could see trading interest on Tuesday, July 26 include Ivory PROPERTIES  Bhd, Peterlabs Holdings Bhd and PUBLIC BANK BHD .
KNM and Zecon had on Monday inked heads of agreements with Gulf Asian Petroleum Sdn Bhd to undertake the projects worth RM17 billion at Teluk Ramunia.
The agreements were to build a 150,000/200,000 bpd petroleum refinery and 400,000/525,000 mtpa polypropylene unit for GAP with a total project value of US$5 billion (RM15 billion).
The other project is to construct a petroleum product storage terminal facility comprising four terminals with a total storage capacity of 2.328 million cubic metres, with supporting infrastructure and auxiliaries worth RM2 billion.
For the refinery project, KNM said it would together with Zecon and/or a Korea or Chinese contractor set up a consortium to undertake the refinery project.
Another stock to watch is Ivory Properties after it got the approval to undertake a mixed development over 102.56 acres on Penang island. The Penang Development Corporation (PDC) had approved the purchase and development of the land in Bayan Mutiara, near the Penang Bridge.
Of the 102.56 acres, it said 67.56 acres are existing land and 35 acres are to be reclaimed for a proposed mixed development.
Peterlabs Holdings Bhd will make its trading debut on Tuesday. The company manufactures and sells animal health and nutrition products in the domestic market. Its offer price is 30 sen while RHB Research has a fair value of 41 sen.
Public Bank Bhd’s earnings rose 19.9% to RM880.35 million in the second quarter ended June 30, 2011 from RM734.08 million a year ago. Revenue increased by 18.3% to RM3.17 billion from RM2.68 billion. Earnings per share were 25.14 sen compared with 20.96 sen.
It declared a first interim dividend of 20% or 20 sen a share which would result in a total dividend payout of RM700 million.