Other stocks which could see trading interest are Axiata (formerly TM International), AirAsia, SILK Holdings, or formerly Sunway Infrastructure, Time Engineering and IJM Land.
The Employees Provident Fund bought 5.25 million shares of Axiata, on March 25 to 26. The acquisitions increased its stake to 16.21% or 608.26 million shares.
Axiata will continue to see heavy interest ahead of the ex-date for its 4.69 billion new rights shares of RM1.12 each next week. The entitlement date was fixed at 5pm on April 10 and will start trading on April 15 and cease on April 22.
The latest development which saw it paying RM2 billion or half of the amount owing to Telekom Malaysia ahead of schedule would position it better in terms of its financial capability.
However, the concerns are weakening outlook for mobile phone operations overseas while the local market is already saturated.
SILK Holdings has received the Securities Commission approval for its proposed regularisation scheme. It involves a rights issue ofup to RM10 million RCULS, one-into-share capital reduction where 25 sen will be cancelled from each existing share of 50 sen each.
SILK will acquire the entire stake of AQL Aman, comprising 4.7 million shares for RM87.5 million via issuimng 175 million new SILK shares.
AirAsia plans to borrow RM3 billion next year to help pay for 24 new planes. The money is on top of the estimated RM2.1 billion already lined up for 14 planes this year. It closed three sen higher to 97 sen but it is way below its listing price in November 2004.
Time Engineering has received the SC’s approval for the issuance of 712.5 million nominal value redeemable secured loan stocks at 48 sen each totaling RM342 million. Construction of the Canal City project in Kuala Langat, Selangor, is going ahead as scheduled, except for the canal component which is being renegotiated with the state government, according to IJM Land, the equity partner in the project.
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