KUALA LUMPUR: BHS Industries, TAS Offshore, Berjaya Auto, Can-One
and Only World Group (OWG) could see trading action on Monday after the recent corporate news.
JF Apex Research said BHS Industries had received the Pahang state government’s approval to build the first phase of the Pekan Green Technology Park.
As for TAS Offshore, the group has received a notice from QMS1 Offshore Services Ltd to cancel contracts to build two anchor handling tug supply vessels.
Berjaya Auto group’s 3QFY16 net profit fell 11.6% on-year to RM41.13mil mainly due to margin contraction.
StarBizWeek reported Can-One Bhd is in the process of disposing a stake in its dairy manufacturing business in a deal that values the asset around RM800mil.
Among the interested buyers for the stake is the private equity division of Malaysian civil service pension fund Kumpulan Wang Persaraan (Diperbadankan) (KWAP), which is in the process of a due diligence over the deal, the sources say.
As for OWG, the Employees Provident Fund Board has ceased to be a substantial shareholder when it stake fell below the 5% level after a series of disposals.
Last Friday, US markets rose over 1% after higher oil prices and European Central Bank (ECB)'s announcement on stimulus. Similarly, European stocks jumped after on oil price's rally and easing measures by ECB.
At Bursa Malaysia, the FBM KLCI gained 5.63 points to end at 1,696.54.
“Following the bullish performance in the US and Europe, the FBM KLCI is expected to test its resistance at 1,710,” said JF Apex Research.
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