KUALA LUMPUR: Plantation counters, MISC Bhd, IGB Real Estate Investment Trust, Lagenda Properties Bhd, Bina Darulaman Bhd, Tek Seng Holdings Bhd and FGV Holdings Bhd are among the stocks to watch on Monday, according to JF Apex Research.
Plantation counters which have substantial business exposures in Indonesia as the government is looking at raising its export levy on crude palm oil (CPO).
Bloomberg reported that Indonesian authorities are looking to apply a progressively escalating levy when CPO prices have exceeded US$695, or around RM2,810, a tonne.
MISC has taken delivery of Seri Everest, the first of six very large ethane carriers (VLECs) that the group purchased in July, at the Samsung Heavy Industries shipyard in Geoje, South Korea.
In a statement, the group said it had also entered into time charter parties with Zhejiang Satellite Petrochemical Co Ltd (STL) for the six VLECs to operate in international waters.
IGB REIT’s earnings could be negatively impacted as the retailer Robinsons, one of the anchor tenants in The Gardens Mall, is shutting down its operations.
Lagenda Properties has entered into a Memorandum of Understanding with BDB Land Sdn Bhd, a unit of Bina Darulaman, to build affordable homes, with the possibility of a recurring partnership between the two parties.
Under the MOU, both parties will negotiate and endeavour to enter into a joint venture to develop affordable homes over 230 acres of land in Kuala Muda, Kedah Darul Aman.
Tek Seng saw its 3QFY20 net profit surge by more than 40 times to RM8.1 million from RM191,000 a year ago on higher PVC sales and profit.
The Federal Land Development Authority (Felda) intends to buy over FGV Holdings’ palm oil mills, following the termination of the land lease agreement (LLA) between the two parties.
Tan Sri Abdul Wahid Omar, who heads the special task force set up to address issues at Felda, said the agency will also take over FGV’s palm oil mills scattered nationwide.
CME’s external auditors have included an emphasis of matter, drawing attention to a material uncertainty related to going concern in the group’s financial statements for its FY20.
Focus Dynamics has made a foray into the robotics food and beverage operations by teaming up with Saudee Group to roll out Malaysia's first robot-operated burger kiosks.
The group said it will lend its technological management expertise to develop a seamless, automated robotics operation with minimal human interaction.
AE Multi signed a collaboration agreement with Ripcol Engineering Sdn Bhd to be a consultation service provider for companies that are entering the rubber glove-manufacturing industry.
Under the deal, Ripcol will be the lead project manager in the designing, fabricating, installing, testing and commissioning of glove-making facilities for the customers.
Notion VTec will be investing some RM90 million to set up nine nitrile glove production lines. It said the first phase comprises an estimated capital expenditure (capex) of RM30 million for three lines with an output of 60 million pieces of gloves per month.
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