Hiap Teck, Aeon Credit, Ni Hsin, HeiTech, YFG, Muhibbah Engineering

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KUALA LUMPUR (Sept 18): Based on news flow and corporate announcements today, stocks that may be in focus tomorrow (Sept 19) could include the following: Hiap Teck Venture Bhd, Aeon Credit Service (M) Bhd, Ni Hsin Resources Bhd, HeiTech Padu Bhd, YFG Bhd and Muhibbah Engineering Bhd.

Hiap Teck Venture Bhd had taken its first step towards iron ore mining by subscribing for 55% equity interest in Vista Mining Sdn Bhd (Vista), which is involved in iron ore exploration, mining and processing operations.

Hiap Teck said the share subscription would enable it to venture into iron ore mining and transform the company into a fully-integrated steel player, with mining, upstream and downstream activities.

Hiap Teck closed 1 sen or 1.31% higher at 77.5 sen, with a market capitalisation of RM552.25 million.

Aeon Credit Service (M) Bhd reported a near 10% increase in its net profit for the second quarter ended Aug 20, 2014 (2QFY15) to RM47.43 million, while revenue came in 28.52% higher at RM209.32 million. The group also declared an interim single-tier dividend of 27.4 sen per share, which will be paid on Oct 21.

However, its gross non-performing loan (NPL) ratio in 2QFY15 had increased sharply to 2.65%, from 2.18% in 1QFY15, although management explained that the spike is cyclical in nature and expected the ratio to “normalise” in upcoming quarters.

The counter fell 28 sen or 1.67% to close RM16.48 today, giving it a market capitalisation of RM2.37 billion.

Ni Hsin Resources Bhd was slapped with an unusual market activity (UMA) query by Bursa Malaysia today, over the recent rise in its share price and trading volume.

The exchange requested Ni Hsin to respond to the UMA query by disclosing any corporate developments which might have led to the spike in the company’s share price recently. The company has yet to respond to Bursa’s query, as at press time.

Shares of Ni Hsin, a cookware manufacturer, had risen from below 32 sen in the beginning of September, to hit a high of 47 sen yesterday.

Interestingly, Ni Hsin saw 10.22% or 23.6 million of its shares traded off-market just before the midday break today, at 30 sen a piece, which was 36% below its previous closing of 47 sen.

The counter closed 0.5 sen or 1.06% lower at 46.5 sen, with a market capitalisation of RM108.55 million.

HeiTech Padu Bhd has secured a system upgrading contract worth RM177 million from the Road Transport Department (RTD), on direct negotiation basis. The contract is to upgrade RTD’s IT system from the present IBM Z10-402 to IBM ZEC12-503. The contract is for a period of five years, commencing Sept 2014-2019.

HeiTech closed 4 sen or 5.93% higher at 71.5 sen today, with a market capitalisation of RM72.4 million.

YFG Bhd’s subsidiary, YFG Engineering Sdn Bhd, has received a letter of reward from Pembinaan Mitrajaya Sdn Bhd, for an electrical installation contract worth RM17.44 million.  

According to the group’s filing to Bursa today, the electrical works are for two apartment blocks of 800 units, the blocks’ parking bays and their surrounding recreational amenities, among others, at the Symphony Hills project in Cyberjaya.

The project which commenced on Sept 17 and expected to be completed by Aug 11, 2016, is expected to contribute positively to the future earnings and net assets per share of the group.

YFG closed unchanged at 11.5 sen, with market capitalisation of RM70.04 million.

Bintulu Port Holdings Bhd has awarded Muhibbah Engineering Bhd the conveyor system facilities package for Phase 1 works of the Samalaju Port development project in Bintulu, Sarawak, worth RM157 million. The contract spans 22 months, from the date of notice to commence work.

Muhibbah Engineering fell 5 sen or 1.63% to close at RM3.01, giving it a market capitalisation of RM1.28 billion.