Trading ideas: KIP Reit, Menang, Kejuruteraan Asastera, T7, Kelington, GHL

KUALA LUMPUR: Stocks to watch on Wednesday include KIP Real Estate Investment Trust, Menang Corp (M) Bhd, Kejuruteraan Asastera Bhd, Kelington Group Bhd, GHL Systems Bhd, Opensys (M) Bhd and HIL Industries Bhd, according to JF Apex Research.

Datuk Eddie Ong Choo Meng has emerged as the substantial unitholder in KIP REIT, after acquiring a 9.895% stake in the group.

Menang Corp said it has scrapped its proposed private placement exercise to raise RM21.4 million for the group’s debt repayment.

Kejuruteraan Asastera has entered into a term sheet agreement with YL Global Ventures Sdn Bhd to venture into the robotics distribution business through the formation of a joint venture.

T7 GLOBAL has proposed a private placement of up to 20% of its issued shares to raise up to RM43.93mil, which will be earmarked mainly to finance the group’s working capital requirements.

Kelington has secured a construction contract in Sarawak. The group said that it had received an award of contract from a manufacturing company at Sama Jaya Free Industrial Zone in Kuching to undertake the construction work with respect to its Sarawak Expansion Project.

GHL Systems' payment touchpoints across Malaysia, Thailand, the Philippines and Indonesia will now be able to offer Buy-Now-Pay-Later (BNPL) option to consumers, as GHL partners with BNPL platform Atome to expand its payment offerings across the region.

OpenSys has partnered with the market operator of peer-to-peer (P2P) financing platform Fundaztic, Peoplender Sdn Bhd, to become the first P2P financier on OpenSys Technologies’ buySolar platform.

HIL Industries’ 2QFY21 net profit nearly doubled to RM4.28mil from RM2.15mil in the same period last year, boosted by stronger contributions from its manufacturing segment.

Magni-Tech’s 1QFY21 net profit fell 21.34% year-on-year, due to higher cost of sales coupled with the adverse effects of the lockdown.

JCorp, the State-controlled investment arm of Johor, has re-emerged as the largest shareholder of Damansara Holdings after buying a 49.57% stake in the company for RM78.91mil.

Meanwhile, the US market declined overnight after August CPI data came below expectations.

Earlier, European stocks were mixed after US inflation was lower than expected.

“Following yesterday's selldown, the FBM KLCI could trend lower towards the support of 1,535 points,” JF Apex said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

KIP Reit , Menang , Kejuruteraan Asastera , T7 , Kelington , GHL


Next In Business News

MUI Group's PMC to buy 51% stake in A&W Malaysia
Yinson reports third straight quarterly earnings growth
KPower posts RM37.4mil net profit in FY21, despite Covid-19 setbacks
FBM KLCI broadly higher on bargain-hunting activities
BNM's international reserves at US$116.2bil as at Sept 15
China stocks end higher, Evergrande's assurances lift real estate firms
Maybank, UOB to jointly underwrite RM2bil Islamic facility for Malayan cement
DFIs provide micro-SMEs with financing totalling RM8.1bil
Oil prices rise on tight supply, renewed risk appetite
Citi Malaysia bags multiple banking awards

Stories You'll Enjoy