KUALA LUMPUR: UOA Development Bhd, LKL International Bhd, Yinson Holdings Bhd, Kim Loong Resources Bhd, Key Alliance Group Bhd and Solution Group Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.
UOA Development is selling UOA Corporate Tower in Bangsar South to its 75.66%-owned UOA REIT for RM700mil.
UOA Development shareholders will receive a special dividend of one sen per share from the transaction.
UOA REIT will be financing RM278mil of the purchase consideration via private placement and RM352mil of the building’s price tag via its RM422mil five-year revolving credit facility.
Yinson’s net profit for the second quarter ended July 31, 2020 jumped 144% to RM100.36 million, from RM41.14mil a year ago.
The higher earnings were due to a greater contribution from the group’s engineering, procurement, construction, installation and commission (EPCIC) segment. The group declared an interim dividend of four sen per share.
LKL International’s net profit for the first quarter ended July 31,2020 leaped to RM1.24mil, from RM124,000 a year ago on higher revenue.
The group also announced that it would be purchasing 60% of dialysis equipment player Tahmaz Meditech Sdn Bhd for RM12mil, which will be paid for via an issuance of RM12mil new LKL shares at RM1 apiece — issued to Tahmaz Meditech’s owners.
Kim Loong Resources’ net profit for the second quarter ended July 31 jumped 218% to RM33mil, from RM10.41mil a year earlier.
This followed higher fresh fruit bunch selling prices and production, combined with crude palm oil prices.
Key Alliance's subsidiary, Agrocloud Sdn Bhd, has entered into a joint-venture with Rimbun Daun Ventures (RDV) and Fortifoods Sdn Bhd to develop Rice Information Management System (RIMS), an integrated rice production management platform.
The group said the project is in line with the Federal government's agenda of addressing national food security by promoting agro technology and precision farming.
Solution Group's subsidiary Solution Biologics Sdn Bhd (SOLBIO) has forged a partnership with China-based CanSino Biologics Inc (CanSinoBIO) to market and distribute a coronavirus vaccine in Malaysia.
The vaccine, Adenovirus Type 5 Vector, will be registered after completing a Phase 3 clinical trial with Malaysia’s National Pharmaceutical Regulatory Agency (NPRA).
Nationwide Express’ independent auditors have flagged its ability to continue as a going concern.
Meanwhile, US markets advanced overnight ahead of the first presidential debate while the Democrats are proposing a US$2.2 trillion stimulus package.
Earlier, European stocks climbed following optimism in China's economic recovery and positive export data.
“Following the positive performances in the US and Europe, the FBM KLCI could extend its rebound towards the resistance of 1,550 points,” JF Apex said.
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