KUALA LUMPUR: DRB-Hicom Bhd, TA Enterprise Bhd, TA Global Bhd, TSH Resources Bhd Berjaya Corp Bhd (BCorp) and Uchi Technologies Bhd are among the stocks to watch on Wednesday, according to JF Apex Research.
DRB-Hicom is buying the remaining 49% equity stake in Media City Ventures Sdn Bhd (MCV) from its controlling shareholder Tan Sri Syed Mokhtar Albukhary for RM100mil cash.
The Securities Commission (SC) has rejected TA Enterprise’s application to withdraw its voluntary takeover offer (VTO) to buy the remaining 39.83% stake it does not own in TA Global — a move to take the property arm private.
TSH Resources has reported a fire incident at a factory owned by its wholly-owned subsidiary, Ekowood International.
Ekowood, which sells engineered solid hardwood flooring, contributes about 5% of the group’s total revenue.
Uchi Technologies has announced a second interim dividend of 8.5 sen/share for its FY19.
BCorp has signed a memorandum of understanding to buy Singer (M) Sdn Bhd from Berjaya Retail Sdn Bhd for RM536mil.
BCorp said the acquisition will be settled via the issuance of new BCorp shares at an issue price of 33 sen each.
Meanwhile, DNex, KESM reported lower year-on-year quarterly results whilst Tadmax, Boustead Plantations posted better year-on-year quarterly net earnings.
Overnight, the US markets advanced as investor optimism on reopening economies overshadowed nationwide riots and trade tension with China.
Similarly, European stocks rose following hopes of post-pandemic economic recovery after lockdowns were lifted.
“Following the positive performances in the US and Europe, the FBM KLCI could test the resistance of 1,515 points,” JF Apex said.
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