Trading ideas: Yenher, Kejuruteraan Asastera, Nestcon, Sime Darby Plantation

KUALA LUMPUR: Stocks to watch on Thursday include Yenher Holdings Bhd, Kejuruteraan Asastera Bhd, Nestcon Bhd, Sime Darby Plantation Bhd, WCT Holdings Bhd and Zhulian Corp Bhd, according to JF Apex Research.

Yenher makes its listing debut today in the Main market of Bursa Malaysia.

Kejuruteraan Asastera is partnering with the Philippines-based LCS Holdings Inc and ATS Venture Group Sdn Bhd to build and operate a telecommunication tower project in the Philippines.

Nestcon has bagged a RM31.34mil contract to carry out rock stabilisation works at a mixed development on a 61-acre site in Damansara Perdana.

Two experts on Sime Darby Plantation's human rights commission said they had resigned from the panel due to lack of transparency, in a potential setback for the company's efforts to overturn a US import ban.

WCT said its wholly-owned subsidiary WCT Bhd (WCTB) and Meydan Group LLC have entered into a settlement agreement under which Meydan will pay WCTB 726.57 million United Arab Emirates dirham (RM828.25mil) in a full settlement linked to the Nad Al Sheba Dubai Racecourse contract dispute between both parties.

Zhulian’s 2QFY21 net profit fell 9.36% year-on-year on the back of lower revenue as Covid-19 caused severe social and economic disruptions and uncertainties.

Sand Nisko Capital has secured RM34.52mil worth of construction projects from related party DPS Resources Bhd.

Hibiscus said that it has been informed by Repsol Exploración SA that the waiver and/or expiry of pre-exemption rights held by Petronas Carigali Sdn Bhd and PetroVietnam Exploration Production Corp under each of the relevant joint operation agreement for the assets had been satisfied.

Hence, the group is close to concluding its acquisition of the latter's upstream assets in Malaysia and Vietnam.

Overnight, the US market was flat after the Federal Reserve chairman's testimony while producer prices showed higher than expected inflation.

Earlier, European stock ended slightly lower after the Fed chairman's comments and UK's inflation was above forecast.

“Following the recent sluggish performance and lack of catalyst, the FBM KLCI could remain sideways above the support of 1, 500 points amid concerns over rising coronavirus cases, ” JF Apex said.