KUALA LUMPUR: JHM Consolidation Bhd
, Binasat Communications Bhd, BSL Corporation Bhd, Sanichi Technology Bhd, OCR Group Bhd and Scientex Bhd are among the stocks to watch on Thursday, according to JF Apex Research.
JHM has entered into a technical collaboration agreement with Jiangsu Dekai Auto Parts Co Ltd (Dekai) to create an efficient and effective supply chain to support automotive lighting to Proton-Geely companies located in Malaysia.
The collaboration will propel the group into a Tier 1 player that is able to deal directly with automotive original equipment manufacturers (OEM).
Binasat Communications is venturing into the solar photovoltaic (PV) segment via the acquisition of a 51% stake in Borderless Connection Sdn Bhd (BCSB) for RM18.36mil.
BCSB is involved in the engineering, procurement, construction and commissioning of solar PV facilities.
BSL Corporation has received a notice of unconditional mandatory takeover from Sanichi Technology managing director Datuk Seri Dr Pang Chow Huat and PNE PCB executive director Ho Jien Shiung.
OCR’s wholly-owned unit OCR Construction Sdn Bhd (OCRSB) has commenced arbitration proceedings against Kencana Amanjaya Sdn Bhd (KASB), following breaches of obligations concerning a delayed construction project in Petaling Jaya, Selangor.
The company said that its unit OCRSB is seeking to claim for approximately RM24mil due to the losses and damages caused by KASB for the delayed works.
Singapore's sovereign wealth fund GIC Pte Ltd is acquiring a 16% stake in Sunway Healthcare Holdings Sdn Bhd for RM750mil from Sunway.
Scientex’s net profit for its 3QFY21 jumped 57.81%year-on-year, on the back of record high revenue.
Lagenda Properties has signed a sale and purchase agreement to acquire 500 acres of land in Kuantan, Pahang for a cash consideration of RM33mil.
The group plans to develop a self-sustainable and affordable township on the parcel.
Meanwhile, the US market was flat overnight with the Dow and S&P ended slightly lower while the Nasdaq eked out small gains to stretch its record high after comments from the Federal Reserve chairman on inflation.
Earlier, European stocks declined despite June's PMI showing business growth in the region grew the fastest in 15 years.
Following the mixed performances in the US and Europe, JF Apex said the the FBM KLCI could extend its sideways trend above the support of 1,550 points.
