Stocks to watch: DRB Hicom, UMW, UBG, Bina Darulaman (ext: Edge)

Interest in DRB Hicom Bhd could perk up after it said the agreement between the local Chevrolet importer and General Motors Corporation (GM) was still intact, and that the parties are in talks for future distributorship.

DRB Hicom's statement was in response to news report that GM terminated its agreement with the former for the exclusive distribution of Chevrolet vehicles in Malaysia.

UMW is stepping up its steel pipes manufacturing after inking a non-competition and goodwill agreement with several Chinese partners. UMW will undertake a business plan and feasibility study to look into the viability of a JV company.

Meanwhile, UBG BHD [ ] is venturing into the oil and gas (O&G) sector via the acquisition of Pearl Thailand Holdings for US$19.2 million, which has offshore oil concessions in the Gulf of Thailand.

UBG group is involved in the infrastructure and CONSTRUCTION [ ] sectors as well as concession-based road maintenance.

BINA DARULAMAN BHD [ ] has received an interim letter of acceptance from Public Works Department for a RM330 million project to build the permanent campus for Kolej Universiti Insaniah in Kedah.