New high for Dagang NeXchange Bhd
KUALA LUMPUR: Pestech International, N2N Connect, Hiap Teck Ventures, KLCCP Stapled and Bina Puri are the stocks which could see some trading interest on Friday after their corporate news, says JF Apex Research.
Pestech International said that its Cambodian unit has inked a US$100.21mil or RM445mil construction agreement to build a hydro power plant in Cambodia.
N2N Connect is expanding its regional presence to Hong Kong, where it has completed the acquisition of Hong Kong-based financial data and trading solutions provider AFE Solutions Ltd for US$18.6mil or RM82.4mil.
Hong Leong Industries's subsidiary HLY Marine Sdn Bhd has been appointed the exclusive re-seller and distributor of Yamaha Marine outboard motor products in Peninsular Malaysia.
As for Hiap Teck Venture, it clarified that it decided not to extend the deadline to complete its planned share swap deal with An Steel International Co Ltd because negotiations to come to definitive agreements took too long.
KLCCP Stapled said that the new tourism tax bill which was just passed could impact the hotel business especially with the rising cost of living and higher inflation in 2017.
JF Apex Research said as for Bina Puri, it is resuming the process of listing its indirect subsidiary PT Megapower Makmur Tbk, which was originally targeted to debut on the Indonesia Stock Exchange (IDX) in August last year.
Overnight on Wall Street, US markets climbed slightly higher overnight after US President Donald Trump said he will act alone in dealing with North Korea if China does not co-operate.
Earlier in the day, European stocks ended mixed after dovish comments from the European Central Bank president Mario Draghi.
At Bursa Malaysia, the FBM KLCI dropped 5.11 points to end Thursday at 1,739.56.
“Following the mixed performance in the US and Europe, the FBM KLCI could remain lacklustre above its support of 1,730,” it said.
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