KUALA LUMPUR: Stocks to watch for in Thursday trading according to JF Apex research include AMCORP PROPERTIES, EITA RESOURCES, MRCB-QUILL REIT, Bina Puri, Bioalpha, Pestech International and PRG Holdings.
Amcorp Properties' indirect wholly-owned subsidiary Amcorp Dynamic Ltd will acquire a 40% stake in Daning Partners Ltd for US$22.95 million (about RM96.18 million).
The deal is for the group to undertake the planned purchase of four office blocks in Shanghai's Daning International Commercial Plaza for RMB1.454 billion (about RM865 million).
Eita Resources’ contract to supply lifts and escalators for the Light Rail Transit Line 3 (LRT3) project has been revised, with the contract sum cut by a whopping 65.42% to RM67.45 million, from RM195.07 million previously.
MRCB-Quill REIT's net property income for the 2QFY19 fell 12.4% yoy mainly due to lower income recognition from its investment properties.
Bina Puri plans to raise up to RM39.54 million through a rights issue, sweetened by one free three-year warrant for every rights share.
Bioalpha said its subsidiary, Bioalpha International Sdn Bhd, has been contracted to manufacture food-based products to be sold in China.
The subsidiary has signed an agreement with Jinrui Yandetang Co Ltd to develop a formulation and manufacture eight food-based products for Jinrui; Pestech International is partnering with China’s Huainan Sungrow Floating Module SCI & Tech Co Ltd to explore floating solar system solutions.
PRG Holdings is spending RM16.5 million cash to buy a loss-making retail company that sells luxury fashion apparel, footwear and ancillary products from its 54.19%-owned Hong Kong-listed subsidiary Furniweb Holdings Ltd.
On Wall Street overnight, the DOw Jones closed little changed following a rebound after a 589-point drop.
European stocks put in a positive performance despite linger trade concerns.
Oil prices however plunged 4.7% on fears of a global slowdown.
For the domestic market, JF Apex expects the FBM KLCI to trend sideways above the support of 1,590 points following the 7.09-point drop in the previous session to 1,604.70.
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