KUALA LUMPUR: JF Apex Research expects TRC Synergy Bhd
, Acoustech Bhd, Vsolar Group Bhd and Sinotop Holdings Bhd to be among the stocks to watch on Monday.
TRC Synergy has signed a supplemental agreement with MRCB George Kent Sdn Bhd (MGK), to revise the contract price of its Light Rail Transit Line 3 (LRT3) project package to RM536.8mil from RM760.55mil originally.
Acoustech plans to raise up to RM80mil via the issuance of redeemable convertible preference shares (RCPS) mainly to fund its property development projects.
Vsolar's major shareholder Asiabio Capital Sdn Bhd has reduced its undertaking commitment to subscribe for the company's rights shares by more than half to RM3mil from RM6.3mil previously.
Sinotop plans to acquire a 30% stake in Television Airtime Services Sdn Bhd for RM7mil, which it intends to satisfy by cash and share issuance.
The proposed acquisition comes with a profit after tax guarantee of not less than RM9mil over three years.
Meanwhile, US markets extended their selldown on Friday amid fears of a recession due to the coronavirus outbreak.
Similarly, European stocks tumbled due to concerns of negative impact on global economy caused by the coronavirus.
“Following the bearish sentiment in global markets and slump in crude oil prices, the FBM KLCI could tumble with support at 1,450 points,” JF Apex said.
