KUALA LUMPUR: Stocks to watch on Thursday include Dagang Nexchange Bhd (DNeX), Inta Bina Group Bhd, Sunway Construction Group Bhd, FGV Holdings Bhd, Cypark Resources Bhd, Prestariang Bhd and LPI Capital Bhd, according to JF Apex Research.
DNeX has secured a RM47.17mil contract for the MyGov Cloud @ PDSA government data centre project in Putrajaya.
Inta Bina has bagged two main building works contracts worth RM496.59mil from Eco World Development Group Bhd.
One is a design and build contract in Kuala Langat, and the other a civil and structural works contract in Shah Alam.
Sunway Construction has won two projects from major shareholder Sunway Bhd's indirect subsidiaries. The two projects, totalling RM1.983bil, are for the Sunway Velocity Two integrated development in Cheras and the expansion of the Sunway Medical Centre in Bandar Sunway.
FGV Holdings will see its palm oil banned by the US Customs and Border Protection (CBP) over the alleged use of forced labour in the planter's production process.
Cypark Resources' net profit for the third quarter ended July 31, 2020 fell 19.49% to RM16.15mil from RM20.06mil a year ago, as Covid-19-induced movement restrictions interrupted and delayed worksite activities. Revenue fell 36.11% to RM55.69mil from RM88.17mil.
Prestariang's indirect subsidiary Prestariang Skin Sdn Bhd (PSkin) will commence meetings with creditors to restructure debts.
As of June 30, total borrowings for the group stood at RM65.54mil (of which RM26.9mil was a revolving credit).
LPI Capital's wholly-owned Lonpac Insurance Bhd has been fined by the Malaysia Competition Commission (MyCC) for infringing the Competition Act 2010.
Top Builders Capital (formerly known as Ikhmas Jaya) has announced a cocktail of proposals, including debt-to-equity settlement and a rights issue, to lift itself out of the financial woes.
Upon completion of the debt restructuring and capitalisation exercise, the company's issued share capital would more than quadruple to 2.79 billion shares, while its gearing would drop to 0.34 times from 0.9 times as of end-2019.
Overnight, US markets rose overnight following hopes that the Senate would pass the US$2.2 trillion stimulus package.
Earlier, European stocks advanced after the US presidential debate and better-than-expected China manufacturing data.
“Following the positive performances in the US and Europe, the FBM KLCI could remain buoyed with support at 1,475 points,” JF Apex said.
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