KUALA LUMPUR: JF Apex Research expects Ekovest, IHH Healthcare, O&C Resources, Prestariang, Axiata and Chin Hin to be among the stocks which could see trading interest after the flurry of corporate announcement and news.
Ekovest will receive 30 acres of land within the Kuala Lumpur River City (KLRC) development for the rehabilitation undertaken by the property developer on the first 2.2km of a 10km stretch of the Gombak river under the KLRC project. The land could generate over RM9 billion GDV to the group.
IHH Healthcare's Singapore unit Parkway Pantai Ltd is on the prowl in India for large hospitals in which it can take a controlling stake.
O&C Resources has bagged a RM324mil turnkey contract to build houses under the 1Malaysia Civil Servants Housing Project (PPA1M) in Precinct 5, Putrajaya from Damansara Realty (Johor) Sdn Bhd to undertake the project on an 11.9-acre site.
Axiata and other major shareholders of Singapore's M1 Ltd — Keppel Telecommunications & Transportation Ltd and Singapore Press Holdings Ltd — have called off the strategic review to dispose of their stakes in M1, as proposals from interested parties did not meet the minimum criteria.
Note that Singapore Straits Times reported that M1 saw second-quarter net profit drop 20.8 per cent as higher depreciation and interest expense, among other factors, took a toll on earnings.
M1 reported a net profit of S$32.5mil for the three months ended June 30, down from S$41mil in the same period a year earlier. The slide in the bottomline came even though operating revenue climbed 4.7% to S$251.6mil.
JF Apex Research pointed out Chin Hin has proposed to acquire a 45% stake in Atlantic Blue Sdn Bhd, a solar system installer, for RM24.75mil.
The acquisition will enable the group to enhance its involvement in the solar power investment business, diversify its customer base, and further strengthen its income from the solar power business.
It said Prestariang had signed a RM3.5bil, 15-year concession agreement with the Home Affairs Ministry to implement an integrated core immigration system known as SKIN -- Sistem Kawalan Imigresen Nasional – which will replace the current Malaysian Immigration System (myIMMs).
Overnight on Wall Street, US markets were mixed with the Nasdaq extending its record high lifted by Netflix as Wall Street enters corporate results season.
Earlier, European stocks were battered following concerns on US President Donald Trump's reform on healthcare.
At Bursa Malaysia, the FBM KLCI extended its flattish trend after shedding 0.27 point to 1,754.92.
“Following the mixed performance in the US and Europe, the KLCI could continue trending sideways above the support of 1,750,” it said.
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