KUALA LUMPUR: Stocks to watch on Thursday include Cymao Holdings Bhd, Zhulian Corp Bhd, Axis Real Estate Investment Trust, Hibiscus Petroleum Bhd, Widad Group Bhd, YTL Corp Bhd and Malaysia Airports Holdings Bhd (MAHB), according to JF Apex Research.
Cymao has secured a subcontract worth RM134.02mil for a proposed mixed development project at Wilayah Sungai Kelian Baru, Mukim Batang Padang in Perak.
Fintec Global has reached an agreement with Robayu Corporation to enter into a memorandum of agreement to supply medical grade gloves in Europe.
Zhulian’s net profit rose 49% to RM13.55 million for the fourth quarter ended Nov 30, 2020, from RM9.1mil a year earlier, thanks to higher revenue.
With better earnings in the quarter, the group declared a fourth interim dividend of three sen per share, as well as a special dividend of five sen per share, amounting to a total of eight sen.
Axis REIT saw its net property income (NPI) for the fourth quarter ended Dec 31, 2020 rise 8.31% to RM51.11mil from RM47.19mil a year earlier.
Hibiscus Petroleum said the UK Oil and Gas Authority (OGA) had advised that two of the three licence agreements pursuant to the OGA’s offer for award received by Hibiscus’ indirect wholly-owned subsidiary Anasuria Hibiscus UK Ltd have been fully executed.
Hibiscus said the licence agreement for the third offer is in the process of being fully executed.
Widad’s major stakeholder Widad Business Group Sdn Bhd, an integrated facility management, property and construction conglomerate, is planning to build a mixed development project in Pulau Langkawi with an estimated gross development value of RM40bil.
The group said the project, dubbed Widad@Langkasuka, is expected to be completed within 15 to 20 years.
YTL Corp has reportedly submitted its planning application to local councils for a new development called the Hangout, a pop-up village which offers tipi-style restaurants, temporary retail and entertainment space in Bristol, the UK.
MAHB is looking at several options in airport investments under the new operating agreement (OA) that it is currently negotiating with the Government, including the option of self-funding, supported by profit guarantees from the Government.
Genting Malaysia’s unit Resorts World Genting (RWG) is temporarily shutting operations, in line with the government’s plan to implement the movement control order (MCO) in Pahang, where it is based, from Jan 22 to Feb 4, 2021.
Meanwhile, US markets rallied overnight as President Joe Biden was sworn into office, while a slew of strong corporate earnings boosted sentiment on Wall Street.
Earlier, European stocks closed higher on Wednesday, ahead of the inauguration of President-elect Joe Biden.
“Following the bullish performance in Wall Street, the FBM KLCI could follow suit and stage a rebound with support at 1,590 points,” JF Apex said.
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