Trading ideas: Hibiscus Petroleum, Pintaras Jaya, XOX Networks and MUI


KUALA LUMPUR: There could be elevated trading interest in Hibisucus Petroleum, Pintaras Jaya, XOX Networks and MUI following recent corporate news flow, says JF Apex Research.

Hibiscus Petroleum said its indirect wholly-owned subsidiary Peninsula Hibiscus Sdn Bhd had successfully completed the acquisition of the entire equity interest in Fortuna International Petroleum Corp from Repsol.

Pintaras Jaya has secured a contract for earthworks, piling, substructure and ancillary works in Kuala Lumpur worth RM34.3mil.

XOX Networks said Grant Thornton Malaysia PLT has resigned as the group’s auditors.

MUI, through its venture arm Pan Malaysia Ventures Sdn Bhd, has emerged as the lead investor in designer perfume-subscription service provider Scentses + Co's seed-funding round under a strategic partnership that will allow Scentses + Co and MUI to effectively offer a more holistic retail experience that focuses on online and offline purchasing experiences to better appeal to new consumer preferences.

Meanwjile, JF Apex said the FBM KLCI could remain under pressure with support at 1,500 points following yesterday's 12.95-point plunge to 1,508.91.

The US market was negative overnight amid rising bond yields as the US Federal Reserve is expected to hike interest rates in March.

European stocks climbed amid corporate earnings and political tensions between Russia and Ukraine.
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
   

Next In Business News

Fed embraces 50-basis-point rate hikes in June, July to curb 'very high' inflation
World Bank's Malpass says war in Ukraine may trigger global recession
Oil edges higher on tight supply, rising US refining activity
Global shares rise after Fed meeting notes hint at future rate hikes
Higher food prices fuel concerns
ECB warns of corporate weakness amid slower growth
Matrix FY22 new property sales at all-time high
Foreign-exchange losses affect Axiata 1Q results
SDP on track to sustain profitability
Insight - World’s richest country has no concept of wealth

Others Also Read