Moody's outlook on the Korean banking system has been negative since May 2016.
KUALA LUMPUR: APM, Econpile and Scientex are among the companies which will see trading interest on Thursday while Foundpac
will make its debut on the Main Market of Bursa Malaysia, says JF Apex Research.
FoundPac established its operations in 2005 and its core businesses are manufacturing precision engineering parts namely stiffeners, test sockets, hand lids and related accessories. Its offer price is 54 sen.
APM is making its foray into the Internet of Things (IoT) market via the acquisition of a 52% stake in Omnimatics Sdn Bhd for RM625,000;
Econpile, the group’s joint venture with the China Communications Construction Co (M) Sdn Bhd (CCCC) bagged a RM389mil contract for Package SUKE-CA3 of the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) project.
JF Apex Research pointed out Scientex is expanding its landbank with the purchase of 121.1967 acres in Kulai, Johor from Singapore-based Lee Rubber Co (Pte) Ltd for RM123.64mil cash.
The proposed acquisition will increase Scientex's total landbank up to 2,400 acres, which will keep it busy for the next 10 to 15 years;
Gas Malaysia announced that an Incentive Based Regulation (IBR) framework will be used to fix the natural gas base tariff for the non-power sector in Peninsular Malaysia, for a three-year period from Jan 1, 2017.
Under the framework, the company would allow changes in the gas costs to be passed through via the Gas Cost Pass Through (GCPT) mechanism, every six months.
JF Apex Research also said US markets ended lower as the Dow failed to hit the 20,000 psychological level while the Nasdaq retreated from its record high. Earlier, European stocks advanced led by mining counters.
At Bursa, the FBM KLCI jumped 10.62 points to close at 1,630.30 points on window dressing. Following the positive momentum, the research house said the FBM KLCI could climb towards its resistance of 1,645.
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