KUALA LUMPUR: Genting Malaysia Bhd, BARAKAH OFFSHORE PETROLEUM BHD, FRASER AND NEAVE HOLDINGS BHD (F&N), Hartalega Holdings Bhd, UNISEM (M) BHD and PRG HOLDINGS BHD are among the stocks to watch on Wednesday, according to JF Apex Research.
Tan Sri Lim Kok Thay, via Kien Huat Realty III Ltd, is selling 46% of the common stock in Nasdaq-listed gaming and entertainment company, Empire Resorts Inc, to Genting Malaysia for US$128.6mil cash or RM538.8mil.
Barakah is demanding RM1.02bil as compensation from Petronas and the latter's exploration arm Petronas Carigali Sdn Bhd, over what it claims to be an unwarranted suspension notice.
F&N's 3QFY19 net profit rose 10% year-on-year, on the back of better performance from its Thai operations and marginally better results from its Malaysian operations.
Hartalega saw its 1QFY20 net profit fall 25% year-on-year, on lower sales volume and higher costs.
Unisem saw its 2QFY19 net profit more than halve to RM14.45mil from RM31.14mil a year ago, on lower sales volume.
PRG's 54.19%-owned subsidiary Furniweb Holdings Ltd has issued a profit warning to its shareholders and potential investors that it expects to record a net loss of RM4.2mil for its 1H2019, compared with a net profit of RM600,000 during the same period a year earlier.
Meanwhile, US markets rose overnight as trade war concerns eased after China's central bank said it would strengthen the yuan.
Earlier, European stocks declined after China suspended the purchase of US agricultural products.
“Following the ongoing uncertainty on trade war, the FBM KLCI could trend sideways above the support of 1,590 points,” JF Apex said.
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