KUALA LUMPUR: Fajarbaru Builder Group Bhd, Malaysian Bulk Carriers Bhd (Maybulk), MISC Bhd, Malayan Flour Mills Bhd (MFM), Ranhill Holdings Bhd and Mega First Corp Bhd are among the stocks to watch on Thursday, according to JF Apex Research.
Fajarbaru and its wholly-owned unit inked a joint venture (JV) agreement with Chinese Gezhouba Group Overseas Investment Co Ltd (CGG) to bid for the construction of a large scale solar photovoltaic (LSS3) energy generating facility in Malaysia.
Maybulk’s losses in the 2QFY19 narrowed significantly to RM6.94mil from RM151.27mil a year earlier, as the group did not have to contend with losses from a now-disposed associate company.
MISC’s 2QFY19 net profit rose 24.5% year-on-year as revenue increased from a higher number of operating vessels.
Malayan Flour Mills fell into the red with a net loss of RM580,000 in its 2QFY19, versus a net profit of RM4.77mil a year ago, following losses sustained in its poultry integration segment.
Ranhill posted a 21% jump in its second quarter net profit, thanks to higher contribution from its water segment.
Mega First announced that two of its units have called off a mixed development project located in Kinta, Perak in joint venture with Menteri Besar Incorporated (Perak) but that an indirect subsidiary has been given the option to secure a significant plot of land for a solar photovoltaic plant.
Meanwhile, US markets plunged overnight after bond yield curve inversions fueled concern of a global recession.
Earlier, European stocks tumbled after Germany's 2Q GDP weakened and growing fears of recession.
JF Apex said the FBM KLCI is likely to retest its support of 1,590 points following the bearish sentiment in global markets.
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