KUALA LUMPUR: JF Apex Research expects Pasdec, Selangor Dredging, HeiTech Padu, DBE Gurney Resources and Pantech to be among the stocks which could see trading interest on Wednesday.
Pasdec plans a capital reduction that will halve the par value of its shares, making way for a rights issue to raise up to RM34.32 million. It plans to buy RM40mil of office units via issuance of new shares.
Selangor Dredging is selling 16 pieces of freehold land in Damansara Heights, Kuala Lumpur, totaling 15,751 sq metres, for RM71mil cash.
HeiTech Padu has has been awarded a RM14.86mil contract from Prudential Services Asia Sdn Bhd for disaster recovery services and office rental services.
Pantech’s 2QFY17 net profit plunged 51% on-year to RM5.14mil due to challenging operating environment in the O&G industry for both global and domestic markets.
DBE Gurney proposed a bonus issue of up to 2.34 billion free warrants to reward its existing shareholders.
JF Apex Research said US markets advanced overnight following better-than-expected corporate results and mixed inflation data. Similarly, European stocks also gained led by mining counters amid quarterly results season.
At Bursa Malaysia, the FBM KLCI jumped 13.86 points to end at 1,667.57 on foreign buying.
“Following the bullish performance in the US and Europe, the FBM KLCI could extend its rebound and test the resistance of 1,675.
“Asian bourses are seeking clues from the China 3Q GDP data, which will be announced this morning, for market direction,” it added.
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