Hot stocks of the day/week

The following stocks are in the center of attention up to 6 Sept 2007:

1. RBland - share price increased from RM1.2 to RM3.16 after IJM's injection of projects
2. Transmile - up from RM3.8 to RM5 (approx. 30%) after the major shareholder to increase his stake and the resignation of non executive director, Tun Ling Liang Sik.
3. Equine - GLC owned by Patrick Lim is up 24 sen to RM3.86. The company is believed to the major beneficial for Northern Corridor Economic Region (NCER).
4. Scomi - GLC owned by Prime Minister's son becomes the spotlight after the re-rating of the company.

The current market price is RM0.70. Nine months net profits rise 10% to RM26 mil. The FV of the stock is assessed at RM1.20 in view of its profitability and accessibility to China market.

4% of final tax exempt dividend will be entitled on 8 Oct 2007.

The Company is a cash-rish company with RM79 million in fixed deposit without any borrowings. The balance sheet looks healthy and fair value is assessed at RM1.50.

WCT bags RM4.6b Dubai racecourse contract


WCT Engineering Bhd and its equal partner, Arabtec Construction LLC, have won a RM4.6 billion contract to build a racecourse in Dubai, the United Arab Emirates (UAE), for Meydan LLC.


The Meydan Racecourse is the biggest job that WCT has clinched, it is the second the company is jointly undertaking with the UAE's Arabtec. The job brings WCT's orderbook to RM6.7 billion.

WCT and Arabtec will receive advance and progress payments from Meydan as the project progresses. Profit contribution is estimated to be as early as this year.


Aseambanker's top pick in the construction sector. In its note to investors yesterday, senior analyst Wong Chew Hann recommended a strong "buy" and revalued the shares as high as RM8.10.

Shahrizan Rosely of CIMB has an "outperform" call with a target price of RM10.

The principal activity of the company is water pipe related. The company is believed to secure some big projects under the recent development of Selangor water sector.

The current market price is RM1.17. The fair value of the company is assessed at RM2.

The market price is RM5.25 now. The fair value is assessed at RM6.90. According to market analyst, the company might be privatised and the NTA per share is RM9.70 to RM11.