Stocks to watch on Monday in Malaysia

Ho Wah Genting Bhd (HWGB), SKP Resources Bhd, Malaysia Smelting Corp Bhd(MSC), GEFUNG HOLDINGS BHD and DIJAYA CORPORATION BHD were among the stocks selection for next monday in Malaysia.

A news report said Yunnan Tin had plans to buy HWGB’s tin mining business for US$75 million.

Meanwhile, The Edge weekly reported that the emergence of Dyson, the British innovative designer of electrical appliances, as a major new customer has launched a strong stream of earnings for SKP Resources.

MSC will rope in Optima Synergy Resources Ltd as a joint venture partner to undertake tin mining operations in Indonesia. MSC signed a strategic alliance agreement with Optima Synergy, which is owned by Indonesian shareholders. The deal will allow Optima Synergy to acquire up to 23% of MSC’s unit Bemban Corp Ltd for US$1.38 million, according to MSC. Bemban in turn has a 75% stake in PT Koba Tin which has secured a mining contract from the Indonesian government.

Gefung will not go ahead with the proposed joint venture for a mixed development project on 50.74 acres of land in east of Jakarta. Gefung said the company and PT Greenworld Development “could not reach an agreement on the terms and conditions for the proposed project, the parties have mutually agreed to terminate the MoU with immediate effect”.

The Edge weekly reported that judging from the present share movement, investors seem cautious about Dijaya’s proposal to acquire 73 properties from major shareholder Tan Sri Danny Tan and family for an indicative consideration of RM948.7 million, mostly via the issuance of loan stocks. (The Edge)