KUALA LUMPUR: Stocks to watch on Monday include Dagang Nexchange Bhd (DNeX), Mesiniaga Bhd, Genting Malaysia Bhd, Dialog Group Bhd, MMAG Holdings Bhd, Luster Industries Bhd and Ibraco Bhd, according to JF Apex Research.
DNeX’s unit has inked a preliminary agreement with PT Infrastruktur Telekomunikasi Indonesia (TelkomInfra) to look into establishing a partnership to undertake the business of submarine cable deployment, maintenance and repair within and outside Indonesia.
Genting Malaysia said it is injecting another US$150mil (RM625mil) cash into loss-making Empire Resorts Inc.
This comes barely six months after the hilltop casino operator announced in March that it would be injecting US$40mil (RM174.8mil then) into Empire Resorts, via a subscription agreement for Empire Resorts' Series G Preferred Stocks.
Mesiniaga has bagged a contract worth RM24.18mil from Tenaga Nasional Bhd (TNB), for the supply, installation, configuration, testing, commissioning and migration of existing services of the TNB Industrial Control System IP/MPLS Network (Phase 2).
Dialog plans to raise up to RM3bil via sukuk to fund its investments, acquisitions, debt refinancing as well as working capital requirements.
MMAG is buying a newly incorporated firm that is going to be involved in digital health solutions for RM100,000. It is buying the firm, Maasdots Sdn Bhd, from BrilliantID Sdn Bhd.
Maasdots has plans to work together with eMedAsia Sdn Bhd — an associate company of MSCM Holdings Bhd — in the implementation of certain services to ensure maximum coverage and network penetration for users.
Luster Industries plans to undertake a private placement exercise that could raise between RM30.35mil and RM47.19mil or up to 20% of its total number of shares for general working capital including purchase of raw materials and overhead expenses.
Ibraco said that the remand of its managing director by the Malaysian Anti-Corruption Commission (MACC) over alleged improper payment claims related to ‘Jiwa Murni’ rural road projects in Sarawak dating back to 2010 has nothing to do with the company.
Meanwhile, US markets were mixed with Nasdaq Composite fell in another volatile session last Friday as the continuing tech sell-off drove the benchmark to its worst week in months.
The European markets closed slightly higher with Brexit standoff in focus.
“We expect the local bourse to tread cautiously, possibly in a sideways trading in the absence of clear leads with our resistance and support level of 1,475 and 1,550 points respectively,” JF Apex said.
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