New high for Dagang NeXchange Bhd
KUALA LUMPUR: JF Apex Research expects Eco World International, Perak Corp, Mudajaya, LPI Capital and Rohas Tecnic
to be among the stocks which could see some trading interest on Tuesday after their corporate news.
Eco World International’s unit Fortune Quest Group Ltd has proposed to acquire an 80% stake in Salcon Development (Australia) Pty Ltd for RM400,896 and agrees to repay part of its liabilities, in order to undertake a mixed development in Melbourne, Australia.
As for Perak Corp, the research house said the subsidiary Lumut Maritime Terminal Sdn Bhd plans to buy four leasehold plots of land in Manjung from Perbadanan Kemajuan Negeri Perak (PKNP) for RM57mil. Perak Corp plans to build another port or terminal there.
Mudajaya announced on Monday GE Power Services (Malaysia) Sdn Bhd and Alstom Power Systems have agreed to pay RM60mil cash to settle outstanding claims relating to the construction of a coal-fired power plant in Tanjung Bin, Johor.
LPI Capital reported a 7.9% on-year rise in its 1QFY17 net profit thanks to higher profit from the general insurance segment.
Rohas Tecnic plans to buy a 75% equity interest in HG Power Transmission Sdn Bhd (HGPT) for RM101.67mil.
Overnight on Wall Street, US markets ended flat overnight amid geopolitical concern and the beginning of corporate results season. Earlier, European stocks declined on higher geopolitical risks after US's missile attack on Syria last week.
At Bursa Malaysia, the FBM KLCI dropped 2.20 points to end the day at 1,739.52.
“Following the lacklustre performance in the US and Europe, the FBM KLCI could remain pressured and trend sideways above its support of 1,730,” it said.
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