Tuesday, July 26, 2011

Stocks to watch 20110726: Prestariang, Axiata, Uzma, Alam

Written by Joseph Chin of theedgemalaysia.com
Tuesday, 26 July 2011 20:12

KUALA LUMPUR: Stocks which could see trading interest on Wednesday, July 27 include ICT service provider Prestariang Bhd which will make its debut on the Main Market.

Other stocks to watch include Axiata Group Bhd, UZMA BHD [], ALAM MARITIM RESOURCES BHD [] and Berjaya Food Bhd.

On the eve of its listing, Prestariang announced it had secured an RM80 million contract with the Ministry of Higher Education for an industry based certification scheme.

The programme would be undertaken by its unit Prestariang Systems Sdn Bhd under a contract over four years at RM20 million a year.

The offer price of the shares is 90 sen. Hwang DBS Vickers Research has a fair value of RM1.09 based on sum-of-parts.

According to the research house, Prestariang intends to gradually reduce its dependency on government contracts going forward.

The company plans to expand its product offerings to include more in-house certification programmes, set up sales offices and training centres in three new locations within Malaysia in 2H11, widen clientele base from the Middle East region via partnership arrangements, and develop its own proprietary test and assessment centres with in-house proprietary procedures and systems in 2012.

Meanwhile, Axiata should see trading interest as share overhang has been finally cleared.

TELEKOM MALAYSIA BHD []’s unit has placed out 92.36 million Axiata Group Bhd at RM5.07 a share. The exercise raised gross proceeds of RM468.3 million for TM.

Uzma Bhd has secured a RM170 million contract from Petronas Carigali Sdn Bhd to provide integrated equipment and services for idle well reactivation project.

its subsidiary Uzma Engineering Sdn Bhd (UESB) had received the three year contact which would be effective from July 25, 2011 to July 24, 2014.

On project delays, Uzma said the execution of the contract was depending on work orders to be issued by Petronas from time to time.

Alam Maritim’s unit has received a letter of award from Petronas Carigali Sdn Bhd to provide one anchor handling tug supply vessel for RM10.6 million.

The contract started on July 13 and the duration is for a primary period of 150 days with two extension options of 45 days each.

Berjaya Food Bhd is expanding its Kenny Rogers Roasters (KRR) brand into Indonesia after it inked a joint venture (JV) agreement with three Indonesian companies to develop and operate the franchise.

It had entered into a conditional JV agreement with PT Mitra Samaya (MS), PT Harapan Swasti Sentosa (HSS) and PT Boga Lestari Sentosa (PT Boga) to operate the franchise in Java island and Bali, Indonesia under PT Boga.

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