Foreigners offloaded -RM19.5bil and -RM6.9bil in 2015 and 2014 respectively.
KUALA LUMPUR: JF Apex Research expects PRG Holdings, Hiap Teck Venture Bhd
, Lion Corporation Bhd and Tanjung Offshore Bhd to be among the stocks which could see trading action on Friday.
It said PRG Holdings, which is involved in manufacturing, property development and construction businesses, is considering listing its manufacturing business on the Growth Enterprise Market of the Stock Exchange of Hong Kong Ltd (HKEX).
Hiap Teck posted its second consecutive quarters of earnings with a net profit of RM7.88mil in 4QFY16 versus net loss of RM68.66mil a year ago, on improved margins and the provision for impairment of investment in a jointly-controlled entity of RM55mil in 4QFY15.
Lion Corp, the group will be de-listed from the Main Market on Oct 12, as Bursa Malaysia rejected its appeal for further extension to submit its regularisation plan. As a result, trading in its securities will be suspended with effect from Oct 10.
Tanjung Offshore, the group is proposing a par value reduction, involving the cancellation of 40 sen of the par value of its current shares of 50 sen, to set off against its accumulated losses.
Overnight on Wall Street, US markets closed down sharply lower with DJIA and S&P 500 tumbled 1.07% and 0.92% respectively as Deutsche Bank share prices hit all-time low and weighed on the financial sector. European stock indexes closed flat as excitement over OPEC deal faded with retreat of crude oil prices.
At Bursa Malaysia, the FBM KLCI gained 4.68 points or 0.28% to end at 1,669.64 with buying interest on oil and gas counters.
“Following the overnight negative sentiment in the US, the benchmark index could stage a pullback on profit taking and continue to hover below its resistance level of 1,675,” it said.
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