KUALA LUMPUR: Stocks to watch on Thursday include Datasonic Group Bhd, Watta Holding Bhd, MMAG Holdings Bhd, UMW Holdings Bhd, KLCCP Stapled Group and Pasdec Holdings Bhd, according to JF Apex Research.
Datasonic announced that it will conduct a one-for-one bonus issue to reward shareholders.
MyEG announced that it has commenced a data-sharing collaboration with the Department of Labour Peninsular Malaysia for the purposes of monitoring and enforcement related to the Covid-19 screening of foreign workers.
Watta’s group executive chairman has launched a mandatory takeover offer for the remaining stake in the company at 50 sen/share after raising his shareholding to 45.59%.
MMAG has sold its entire 29.89% stake in MSCM to Penang's Hong Seng Group for RM18.09mil cash.
UMW Holdings’ UMW Toyota Motor sold 7,509 vehicles in July, constituting a year-to-date high, up 70% from the 4,417 units registered in June.
It explained this was due to the sales tax exemption on locally-assembled cars from June 15 to Dec 31. Its 38%-owned associate Perodua also noted that July had recorded the highest monthly sales year with 23,303 vehicles, up 9.2% from 21,250 units sold in June.
KLCC Stapled’s 2QFY20 net profit fell 22.68% year-on-year to RM140.46mil from RM180.38mil, due to a sharp decline in the performance of its hotel and retail segments following the implementation of the Movement Control Order (MCO).
The trading of Pasdec’s securities may be suspended from Monday Aug 10, 2020, until further notice, if the company does not submit its outstanding 2019 annual report on or before Aug 7.
Caely's substantial shareholder Ni Hsin has disposed of its entire 7.15 million shares or 4.27% stake in the former. Ni Hsin sold the shares in the open market for RM4.4mil, with an expected gain of RM804,049, which will be put towards working capital purposes.
Meanwhile, US markets rose overnight amid corporate earnings and optimism on a coronavirus vaccine despite disappointing private payroll data.
Earlier, European stocks advanced on better quarterly earnings but gains were capped by slower PMI.
“Following the positive performances in the US and Europe, the FBM KLCI could remain buoyed above the support of 1,550 points,” JF Apex said.
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