KUALA LUMPUR: Stocks to watch on Thursday include Cypark Resources Bhd, Uzma Bhd, SYF Resources Bhd, Tien Wah Press Holdings Bhd, Censof Holdings Bhd, TAS Offshore Bhd and Gas Malaysia Bhd, according to JF Apex Research.
Cypark Resources reported an 11.84% year-on-year increase in its 1QFY20 net profit mainly due to the full-year effect of adoption of MFRS 15 that was recorded in the immediate preceding quarter.
Uzma has received a letter of award from ExxonMobil Exploration and Production Malaysia Inc (EMEPMI) for provision of pumping equipment and services.
SYF Resources is selling a freehold property in Semenyih, Selangor, for RM11.7mil cash to pare down its borrowings and add to its working capital.
Tien Wah Press has secured a five-year extension to supply printed cartons to British American Tobacco Group.
Censof announced that it has been forced to sell 43 million shares equivalent to a 2.45% stake in Dagang Nexchange Bhd (DNeX) for RM3.92mil or 9.1 sen apiece, due to a margin call yesterday by its brokerage.
Hence, it will book a loss of RM10.71mil at group level and RM4.84mil at company level.
TAS Offshore has secured contracts for the sale of five units of Garbage Collection Craft and two units of Flotsam Retrieval Craft for RM19.6mil.
Malaysia’s Energy Commission has granted Gas Malaysia’s wholly-owned subsidiary Gas Malaysia Energy and Services Sdn Bhd a 10-year licence to import liquefied natural gas (LNG) for regasification in the country.
Meanwhile, US markets plunged about 5% overnight as concerns over the coronavirus continue to drag the market.
Earlier, European stocks tanked 4% despite governments pledging billions of dollars of stimulus.
“Following the bearish performances in global markets, the FBM KLCI is expected to remain pressured with support at 1,210 points,” JF Apex said.
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