KUALA LUMPUR: Stocks that could be the focus of investors on Wednesday include IHH Healthcare, Supermax, Unisem, United Malacca Plantations, Wah Seong and Kejuruteraan Asastera, said JF Apex Research.
IHH Healthcare has submitted a confidential, conditional, non-binding and indicative proposal to acquire 100% of Ramsay Sime Darby Health Care Sdn Bhd for RM5.67bil.
Supermax said production of its first ever manufacturing plant in the US is now expected to begin sometime in the second quarter of 2023, instead of the fourth quarter of 2022 as indicated earlier.
Unisem held a groundbreaking ceremony to commemorate the start of construction of its new semiconductor production facility on a piece of industrial land in Gopeng, Perak.
Unisem said Phase 1 of the new Gopeng Plant with an aggregate built up area of about 57,000 sq m with cleanroom facilities, is expected to be completed in April 2023 at an approximate cost of RM300mil.
United Malacca’s net profit in the third quarter ended Jan 31, 2022 almost doubled to RM30.24mil compared to RM13.73mil in the same period last year, on the back of higher crude palm oil prices.
Wah Seong is selling its remaining 30% stake in pipe manufacturing unit Spirolite (M) Sdn Bhd to Lesso Malaysia Holdings Sdn Bhd for RM30.8mil, cash, as part of its plan to divest non-core businesses within the group to streamline its operations and resources.
Kejuruteraan Asastera has inked five Rooftop Solar Power Generating System Construction and Power Purchase Agreements worth RM46.8mil with an estimated aggregate capacity of 4,284 kilowatt-peak (kWp) in Thailand.
Meanwhile, JF Apex said the FBM KLCI could climb towards the resistance of 1,620 points following the positive performance on Wall Street.
The US market continued to rise after the Federal Reserve chairman's comment on inflation and interest rate hikes.
Similarly, European stocks advanced with banks leading the gains following potential rate hikes.