KUALA LUMPUR: JF Apex Research expects HPMT Holdings Bhd, Malaysia Building Society Bhd (MBSB), Xin Hwa Holdings Bhd , Ikhmas Jaya Group Bhd and E.A. Technique (M) Bhd to be among the stocks to watch on Wednesday.
Manufacturer and distributor of precision cutting tools HPMT is making its listing debut on the Main Market of Bursa Malaysia today.
MBSB will restructure itself so that wholly-owned subsidiary MBSB Bank Bhd will be the group’s holding company in the next two years. Separately, for FY19, the group is targeting more than 5% loan growth, with non-performing loan (NPL) ratio to be 1.2% to 1.3%.
Ikhmas Jaya won a RM405mil subcontract for the construction and completion of LRT 3 from Bandar Utama to Johan Setia, Package GS09 — Guideway, Stations, Park and Ride, Ancillary Buildings and Other Associated Works.
Xin Hwa’s external auditors KPMG revealed that the company’s funds were used to settle its executive directors’ personal expenses over the past two years.
E.A Technique received a US$6.10mil (RM25.4mil) payment claim from Malaysia Marine Heavy Engineering Sdn Bhd (MMHE) over disputes regarding the non-payment of additional works performed by the latter.
Meanwhile, US markets ended slightly lower overnight and snapped its 6-day winning streak as investors took a breather after recent gains.
Earlier, European stocks climbed after UK's employment data beat consensus.
“Following the mixed performance in the US and Europe, the FBM KLCI could remain flat and hover sideways below the resistance of 1,660 points,” JF Apex said.