KUALA LUMPUR: Blue chips staged a relief rally on Tuesday, Sept 27, in line with Asian markets but whether it was a brief upward trend remains to be seen amid the volatile external news from the US and Europe.
Stocks to watch on Wednesday, Sept 28 include HO WAH GENTING BHD   (HWGB), George Kent Holdings Bhd, YINSON HOLDINGS BHD  and SILK Holdings Bhd. Other stocks which could see trading interest are CONNECTCOUNTY HOLDINGS BHD , Hwang-DBS (Malaysia) Bhd and INGRESS CORPORATION BHD .
HWGB’s rights issue of 23.69 million new shares with 11.84 million new free warrants on the basis of one rights share for every four shares held with one free new warrant for every two rights shares. The issue price is 45 sen per rights share.
George Kent is targeting to increase its tender book to several billion ringgit for its infrastructure, water and CONSTRUCTION  businesses division.
Its chairman Tan Sri Tan Kay Hock said the projects it was pursuing were mainly in water and waste water related industry, healthcare and potential specialised M&E engineering works in other sectors.
George Kent’s 2Q earnings rose 11.9% to RM5.64 million for the second quarter ended July31, 2011 from RM5.04 million a year ago due to higher profit contribution from project related works and higher sale of water meters.
Revenue rose 6.2% to RM41.35 million from RM38.91 million. Earnings per share were 2.5 sen compared with 2.2 sen. It declared a dividend of 2.0 sen per share.
Yinson, an integrated offshore services provider, secured US$105 million (RM334.2 million) for its floating storage and off-loading (FSO) facility. The fund raising exercise is to fund the FSO of Yinson’s joint venture company.
Yinson had on June 29, secured a bareboat charter contract to provide a FSO worth US$331 million (RM1.01 billion) from PTSC for a firm period of 10 years with the options to extend for another 10 years.
SILK Holdings reported a loss after tax and minority interest of RM1.9 million for the fourth quarter ended July 31, 2011 compared with net profit RM11.55 million a year ago. Its revenue fell 9.4% to RM59.61 million from RM65.81 million a year. Loss per share was 0.5 sen versus earnings per share of 3.02
Connectcounty will be uplifted from its GN3 status on Wednesday after it has completed the regularisation of its financial condition.
Connectcounty's rights issue of 60.84 million rights shares of 10 sen each with 60.84 million free warrants will start trading. The rights shares and warrants were issued on the basis of three rights shares and three warrants for every four share held at 10 sen per right shares.
Hwang-DBS’s net profit surged 91.5% to RM24.44 million in the fourth quarter ended July 31, 2011. Revenue rose 7.8% to RM95.58 million while earnings per share rose to 9.58 sen. It proposed dividend of 5.0 sen a share.
For the financial year ended July 31, 2011, Hwang-DBS’s net profit increased by 42.2% to RM86.61 million and revenue increased 15.1% to RM399.33 million.
Ingress’s earnings rose 51.8% to RM3.75 million from the RM2.47 million a year ago, boosted by its automotive division. Revenue, however, declined by 8.9% to RM178.07 million from RM195.55 million. Earnings per share were 4.88 sen.