TSR Capital, whose share price has been on the upward trend since February, could be among the stocks to watch on March 19 after it received official go-ahead to build a post-graduate teaching hospital for International Islamic University Malaysia at Nilai.
Other stocks which could see investors’ interest are Faber Group, MISC and IJM following the latest corporate developments or analysts upgrade.
TSR Capital share price has also surged from a low of 71 sen on Oct 8 last year to reach RM1.27 on March 18. However, for the fourth quarter ended Dec 31, it posted net profit of RM2.48 million but for the FY08, it was in the red with RM15.45 million net loss.
Its net asset per share was RM1.31 and it has cash of RM78.6 million. However, of concern could be is trade receivables of RM42.7 million and amount due from contract customers of RM36.4 million. Trade payables are RM43 million.
MISC, world’s largest owner and operator of liquefied natural gas tankers, plans to develop a floating LNG project to explore for gas in Southeast Asia by the second half of 2013.
Bloomberg reported MISC was working to liquefy the fuel aboard vessels and was also marketing a technology to allow regasification of LNG on a similar platform.
Faber Group’s subsidiary Faber LLC landed RM65.5 million contracts from the Abu Dhabi government to provide maintenance services there for two housing projects there.
The upside is that the civil, mechanical and electrical maintenance services contracts, if all goes well, are renewable annually over four years.
Faber’s earnings have been on an upward trend, registering net profit of RM115.7 million in FY08, a significant increase from RM51.96 million in FY07.
IJM Corp is expected to benefit as the government speeds up the projects. Analysts believe IJM has bright chances to secure up to RM5.8 billion new jobs, adding to the RM1.2 billion in January-March.
IJM would have a fair chance to secure up to RM3.5 billion worth of other new jobs (RM2 billion LCCT, RM1.3 billion Intermark redevelopment and RM250 million Penang airport).
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