KUALA LUMPUR: JF Apex Research expects SCOMI GROUP BHD, Scomi Group Bhd, SCOMI ENERGY SERVICES BHD and Tatt Giap Group Bhd to be among the stocks to watch on Monday following their latest corporate news.
Perisai Petroleum will be suspended from trading effective Jan 22 after the stock exchange rejected the group’s proposed regularisation plan.
The Practice Note 17 (PN17) company will be delisted from the Main Market of Bursa Malaysia on Feb 13 unless Perisai appeals against the exchange’s decision before Feb 10.
Scomi Energy’s board has commenced an investigation into the RM64.33mil lent to its parent company Scomi Group as the advances were made without board approval.
Tatt Giap has seen Dynaciate Engineering Sdn Bhd emerging as its largest shareholder, after the latter increased its stake to 29.74% from 12.95% previously.
Dynaciate had converted 88.4 million irredeemable convertible preference shares (ICPS) into 44.2 million new shares on the basis of one share for every two ICPS.
Meanwhile, US markets ended slightly lower on Friday, ending a 5-day winning streak following concerns on China's economic growth.
Earlier, European stocks ended flat amid UK's slower 3Q GDP and Brexit worries.
“Following the mixed performance in the US and Europe, the FBM KLCI could consolidate and trend sideways below the resistance of 1,710 points,” JF Apex said.