KUALA LUMPUR: JF Apex Research expects Sime Darby Bhd , Pentamaster Corp Bhd , Sanbumi Holdings Bhd and JHM Consolidation Bhd to be among the stocks to watch on Wednesday.
Sime Darby’s wholly-owned unit, Sime Darby Industrial Holdings Sdn Bhd, has disposed of a 53% stake in Sime Kubota Sdn Bhd to Kubota Corporation for RM25.87mil.
Pentamaster has proposed a one-for-two bonus issue of up to 158.29 million new shares to be undertaken on a date to be determined later.
Sanbumi’s unit Sanbumi Sawmill Sdn Bhd (SSSB) is going to jointly develop a proposed mixed development in Seberang Perai, Penang, worth an estimated RM127.81mil.
JHM is buying a factory in Kedah for RM16.6mil cash as part of the group’s plan to expand its production area.
Meanwhile, US markets declined overnight as investors took profit after 3-day winning streak.
The 30-stock Dow closed 79.29 points lower at 26,179.13. The S&P 500 ended the day just above the flatline at 2,867.24, while the Nasdaq Composite gained 0.25% to close at 7,848.69.
Earlier, European stocks advanced as Brexit remains unresolved.
“Following the mixed performance in the US and Europe, the FBM KLCI could hover sideways above the support of 1,625 points,” JF Apex said.