Stocks to watch include Axiata Group, formerly TM International, Tasco, Tanjong and MBM Resources.
Dreamgate posted net loss of RM22.77 million in its 4Q ended Dec 31, which was much larger than the earlier statement of net loss of RM9.47 million. It made a net profit of RM11.46 million in 4Q 2007.
The amendment to the net losses for 4Q08 was due to a directive by the Cambodian government, which the company received on Feb 26, that all sports betting and electronic gambling machine businesses in Cambodia cease operations immediately.
On Axiata Group’s renounceable rights issue of about 4.69 billion new shares on the basis of five rights shares for every four shares held by shareholders, the entitlement date has been fixed at 5pm on April 10.
Its rights shares of RM1.12 each will start trading on April 15 and cease on April 22. The stock short name, number and ISIN Code are TMI-OR, 6888OR and MYL6888OR004 respectively.
As for Trans-Asia Shipping Corp, it said Nippon Yusen Kabushiki Kaisha (NYK) does not need to launch mandatory offer as it had already got the Securities Commission’s exemption. The share price had run up recently on expectations of a takeover.
Tanjong posted net profit of nearly RM29 million for the 4Q ended Jan 31, down from RM147.86 million a year ago.
Tanjong accounted RM141 million in refinancing costs relating to loan facilities on two Egyptian plants, Port Said East Power SAE and Suez Gulf Power SAE. However, there was a gain of RM100 million from a revaluation of Menara Maxis.
IOI Corp held 91.33% or 742.32 million shares of IOI Properties at the close of the takeover offer on March 31.
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