New high for Dagang NeXchange Bhd
KUALA LUMPUR: Tenaga Nasional, SHL, Daibochi and Amcom are among the stocks to watch on Thursday after their corporate announcements and news, says JF Apex research.
It said Tenaga Nasional is buying a 51% stake in Southern Power Generation Sdn Bhd, the special purpose vehicle to develop the 1,440MW combined-cycle gas turbine power plant in Pasir Gudang, Johor, for RM51.
As for SHL, it is teaming up with Japanese general trading firm Marubeni Corp to undertake a condominium project with an estimated gross development value of RM327mil in Bandar Sungai Long, Selangor.
Daibochi has received regulatory approval from Myanmar for its joint venture proposal to set up flexible packaging operations in that country and export the product to other countries.
JF Apex Research said Ancom is planning to collaborate with Managepay
to offer electronic payment (e-payment) services to promote the local tourism sector to Chinese tourists.
Meanwhile, F&N’s second quarter net profit grew 18.23% on-year to RM107.08 million, on lower operating expenses, higher share of results of an associate and lower tax expense.
Westports has confirmed it is interested in participating in a joint bid for a contract to build Colombo Port's East Container Terminal in Sri Lanka
Overnight, US markets were flat after the Federal Reserve policy meeting outcome came within expectation with no rate hike and positive outlook on the economy.
Earlier, European stocks ended mixed before the Fed's rate decision and ongoing corporate earnings announcements.
On the local market, the FBM KLCI came under selling pressure in the late afternoon, falling 5.96 points to 1,772.51.
“Following the mixed performance in the US and Europe, the FBM KLCI could be trendless and hover below the resistance of 1,800,” said JF Apex Research.
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