KUALA LUMUR: LBS Bina, Sunsuria, Mieco, Luxchem and Pantech are among the stocks which could see trading interest on Thursday, says JF Apex Research.
It said LBS Bina is buying eight acres of leasehold land in Seri Kembangan, Selangor for RM63mil for a mixed development project. LBS plan to build four towers of serviced apartments with an estimated gross development value of RM600mil. Work is expected to start in 2018.
As for Sunsuria, it has entered into a 70:30 joint venture agreement with Genlin Development Sdn Bhd to undertake mixed development projects on two pieces of land totalling 2.23 acres in Sentul.
JF Apex Research pointed out Mieco Chipboard is taking over SYF Resources's unit Great Platform Sdn Bhd for RM58.58mil.
The corporate exercise will enable Mieco to expand its chipboard production capacity, and enable it to penetrate into Great Platform’s customer base.
Luxchem’s 2QFY17 net profit fell by one-third 33.5% despite that revenue rose 15.5%.
Pantech's 1QFY18 net profit soared 63.72% on-year on higher sales demand from both its trading and manufacturing divisions.
SC Estate Builder
won a RM3.7mil contract to clear the site and undertake infrastructure earthworks for a PR1MA Homes Project in Kubang Pasu, Kedah.
Overnight on Wall Street, US market closed higher with the Dow hitting a record high after the Federal Reserve kept interest rate unchanged.
Similarly, European stocks climbed as UK's 2Q GDP improved and better-than-expected corporate earnings.
JF Apex Research said at Bursa Malaysia, the FBM KLCI closed up 2.66 points to 1,766.
“Following the bullish performance in the US and Europe, the KLCI could extend its rebound towards the resistance of 1,770,” said the research house.
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