KUALA LUMPUR: Stocks to watch on Thursday include Ancom Bhd, Ancom Logistics Bhd, Nylex (M) Bhd, MQ Technology Bhd, Tex Cycle Technology, NetX Holdings, Lambo Group Bhd and MISC Bhd, according to JF Apex Research.
Ancom, Ancom Logistics and Nylex will undergo a restructuring exercise that will see the logistics business move to Nylex and the entry of immigration technology company S5 Holdings Inc into Ancom Logistics, said sources familiar with the plans.
MQTech has inked an investment and collaboration JV agreement with Hong Kong-based JD Resources International Ltd to acquire a company that is involved in the manufacturing and marketing of gloves and possesses a glove-making factory.
Tex Cycle Technology has entered into a new JV with majority ownership to expand its renewable energy (RE) generation business.
NetX Holdings intends to raise up to RM62.95mil — higher than its market capitalisation of RM52.46mil — through a share consolidation and a rights issue with warrants.
Lambo has proposed a private placement to raise up to RM14.8mil for its e-commerce business expansion.
The private placement involves up to 813.3 million shares or 30% of the group’s issued share capital to independent third party investor to be identified later.
Microlink Solutions, which received an unusual market activity (UMA) query from Bursa Malaysia after its share price rose to four-year high, said the group is currently in the final stage of negotiation for a potential joint venture (JV) with another company.
MISC has inked six Memoranda of Agreement with Zhejiang Satellite Petrochemical Co Ltd’s units for the purchase of six newbuild 98,000 cubic metres Very Large Ethane Carriers worth a total of US$726mil (RM3.09bil).
MGB has secured an RM215mil contract from its major shareholder LBS Bina's subsidiary to deliver the piling and building works for a housing development project in Kuala Selangor.
Econpile has bagged an RM21.4mil contract on earthworks, piling, pile caps, substructure, elevated road and earthing system works for a development with 44- and 40-storey condominium blocks, basement and podium car parks and recreation facilities in Kuala Lumpur.
Gagasan Nadi Cergas has bagged an RM40.02mil contract with Menteri Besar Selangor Inc to develop affordable housing on a 12.89-acre parcel of land.
Zhulian’s 2QFY20 net profit contracted 42% year-on-year dragged by lower sales.
Meanwhile, US markets rose overnight following corporate earnings and hopes of a coronavirus vaccine.
Similarly, European stocks advanced due to developments in a potential coronavirus drug.
“Following the positive performances in the US and Europe, the FBM KLCI could climb towards its resistance level of 1,615 points,” JF Apex said.
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