Stocks to watch: Lion Group, UM Land, KBB, Grand-Flo, YSP

A Bloomberg news report said Baosteel was keen to buy a stake in Amsteel Mills Bhd from Lion Group for US$1 billion. Lion Industries share price jumped 24 sen to RM1.87 and Lion Corp added 5 sen to 30 sen.

Other companies which could see trading interest are UNITED MALAYAN LAND BHD [] (UMLand) KBB RESOURCES BHD [], Grand-Flo Bhd, YSP Southeast Asia Holding Bhd and Berjaya Corp Bhd.

UM Land plans to launch more new projects with a total gross development value (GDV) of nearly RM500 million in the financial year ending Dec 31, 2011.

Meanwhile, as for the KBB still in the midst of finalising the debt restructuring agreement but is also open to new corporate proposals. It added there were indications the financial position was being regularized.
The company referred to its May 31 announcement that the Corporate Debt Restructuring Committee (CDRC) received approval exceeding 75% of each class of creditors for the proposed debt revamp.

As for the tracking solution firm "Grand-Flo" has secured two networking jobs in Thailand worth RM90 million.
Both jobs are awarded by the Communications Authority of Thailand (CAT). The first job, worth RM50 million, is in the province of Nakhonratsima while the other, in the province of Chiang Mai is valued at RM40 million.

Lastly, is BERJAYA CORPORATION BHD .and Kim Eng Holdings Ltd have terminated their discussions over BCorp’s proposed sale of Inter-Pacific Securities Sdn Bhd’s stockbroking business.

BCorp said the agreement for the sale of 100% of the stockbroking business “was mutually terminated today.(theedgemalaysia.com)