KUALA LUMPUR: Stocks in focus on Wednesday include Petronas Chemicals Group, Sarawak Consolidated Industries, Dialog Group, Duopharma Biotech, Yong Tai, Dagang Nexchange, Chin Hin Group, Borneo Oil and Caely Holdings, said JF Apex Research.
Petronas Chemicals Group Bhd is buying the entire equity interest in leading specialty chemicals group Perstorp Holdings AB for a base purchase of RM7.018 bil cash.
Sarawak Consolidated Industries Bhd has won an engineering, procurement, construction and commissioning contract worth RM36mil for road infrastructure projects in Sarawak.
Dialog Group Bhd’s 3QFY22 net profit dropped 2.3% YoY to RM133.06mil.
Duopharma Biotech Bhd’s 1Q22 net profit grew 15.2% YoY to RM20.29mil.
Yong Tai Bhd has entered into debt settlement agreements with 19 creditors to pay off RM46mil owed by issuing 92 million new shares at 50 sen per share.
Dagang NeXchange Bhd (DNeX) has inked a MoU with Foxconn to set up a JV company to build and operate a 12-inch wafer fabrication plant in Malaysia.
Chin Hin Group Bhd is selling its remaining 19.34% stake in Solarvest Holdings Bhd for RM103.28mil cash or 80 sen per share to Divine Inventions Sdn Bhd in a related party transaction (RPT).
Borneo Oil Bhd is buying a 22.49% stake or 28.36 million shares in Sabah-based clinker and cement products manufacturer Makin Teguh Sdn Bhd (MTSB) for RM73.56mil.
Caely Holdings Bhd's former executive director Wong Siaw Puie has been redesignated as executive chairman.
Meanwhile, JF Apex said the FBM KLCI could extend its rebound with support 1,540 points following the positive performance on Wall Street.
The US market rallied overnight to rebound from recent losses and concerns over inflation and recession.
Similarly, European stocks advanced after UK unemployment dropped to its lowest since 1974.