KUALA LUMPUR: Stocks to watch on Wednesday include LYC Healthcare Bhd, Green Packet Bhd, Serba Dinamik Holdings Bhd, Malayan Banking Bhd (Maybank), T7 Global Bhd and Key Alliance Group Bhd, according to JF Apex Research.
LYC said it was working to explore the possibility of setting up, own and operate a hospital aimed at attracting medical tourism, with a focus on fertility, cosmetic and aesthetic, orthopaedic and osteoporosis at a location to be identified later.
Green Packet has inked a settlement agreement with MYTV Broadcasting Sdn Bhd in relation to a 2018 contract to supply up to 3.6 million set-top boxes (STB) to MYTV for RM272mil.
Under the agreement, Green Packet said it will supply STBs to MYTV for RM24.39mil.
Serba Dinamik, through its wholly-owned subsidiary, Serba Dinamik IT Solution Sdn Bhd (SDIT), has launched the Halal2Go application (app) which offers online food delivery services.
Maybank reported that net profit of its Indonesian unit, PT Bank Maybank Indonesia Tbk, grew by 29.7% to 538.2 billion rupiah (RM160mil) for its 1QFY20 on the back of improved fee-based income as well as sustained strategic cost management.
T7 Global has bagged two contracts with a provisional value of over RM140mil from Carigali Hess Operating Company Sdn Bhd and PTS Resources Sdn Bhd.
ACO has been appointed as an authorised distributor for Sylvania brand of lighting products. Sylvania is a leading European brand’s lighting solutions provider for the consumer, professional and architectural markets.
Key Alliance proposes to undertake a private placement of up to 30% of the total number of issued shares to third party investor(s) to be identified later.
The placement shares will be issued at a price of not more than 20% discount to the 5-day VWAP of the company’s shares immediately preceding the price-fixing date.
JF Apex noted that Heineken Malaysia, Pharmaniaga, Maybulk reported better year-on-year quarterly results, whilst Hibiscus Petroleum, Sunway REIT, Leong Hup, Bintulu Port, Sedania Innovator, AWC posted weaker year-on-year quarterly net earnings.
Overnight, US markets declined following losses in banking and retail counters after a report raised concerns about a potential coronavirus vaccine.
Earlier, European stocks declined with automotive and insurance companies leading the losses following a 76% decline in car registrations in Europe.
“Following the negative performances in the US and Europe, the FBM KLCI could see profit taking and face pressure below the resistance of 1,430 points,” JF Apex said.
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