KUALA LUMPUR: JF Apex Research expects Lay Hong, Hubline, Axiata, Perwaja and Kinsteel to be among the stocks to watch on Monday.
It said Lay Hong is looking into a JV to invest in an integrated livestock business overseas. It also intends to acquire Takaso SC (Thailand) Ltd, a unit of Takaso Resources Bhd at an indicative price of RM9mil cash.
Hubline’s unit Hub Shipping Sdn Bhd was served with a winding-up petition by Textainer Equipment Mangament Ltd over RM16.47mil in claims.
Axiata’s unit is buying a 75% stake in Digicel Asian Holdings Pte Ltd based on enterprise value of US$221mil on cash free and debt free basis.
Perwaja Holdings and Kinsteel, as both of their subsidiaries and Kinsteel itself have been sued by Lonpac Insurance Bhd over RM2.72mil in outstanding insurance premium.
Last Friday, US markets surged over 1% on Friday to reverse intraday losses following higher oil price and weaker jobs data.
Earlier, European stocks posted gains as lower US employment report could prompt the Federal Reserve to delay interest rate hike.
On the local market, the FBM KLCI fell 5.13 points to end at 1,628.
“Following the positive performance in the US, we expect the KLCI to test its resistance at 1,640,” it said.
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