KUALA LUMPUR: Investors may be turning their attention to YTL Corp, Lafarge Malaysia, Destini
, GHL Systems, Pasdec and YFG in Friday trading.
Accordng to JF Apex research's daily highlights, YTL Corp said its unit has proposed the acquisition of a 51% stake in Lafarge Malaysia for RM1.63bil or RM3.75 per share.
YTL Corp said following the increase in shareholding, YTL Cement will be obliged to extend a mandatory offer (MO) to acquire the remaining shares in Lafarge.
Destini is working together with two railway contractor companies to collectively bid for rail projects in Malaysia and the region.
GHL Systems is adding GrabPay's payment channel to its existing credit and debit cards schemes, local e-Wallets, as well as crossborder e-Wallets for its merchant base in Malaysia.
Pasdec has failed to submit its 2018 annual report for public release within the deadline of April 30, which could see Bursa Malaysia suspending trading of the company’s shares, if it does not submit the report by May 8.
YFG said its engineering unit has terminated an RM127mil contract for the proposed construction of over 600 units of PR1MA homes along with 74 units of shoplots in Kuantan, Pahang due to project funding issue on the developer’s part.
Meanwhile, Wall Street put in another weak performance overnight, which could lend further declines on the FBM KLCI.
"US markets declined overnight as investors reacted negatively to the Federal Reserve chairman's comment that there won't be a rate cut anytime soon.
"Earlier, European stocks dropped after the Bank of England kept rates unchanged and lower factory activity," said JF Apex.
The local index plunged 10.05 points to 1,632.24 in the previous session, and could trend lower towards the support of 1,615, it added.
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