KUALA LUMPUR: Stock with recent corporate announcements that could see increased trading action include Country Heights, Malaysia Smelting Corp, LBS Bina Group, Sunway REIT, Cahya Mata Sarawak, Signature International, Fiamma, MPHB Capital, Serba Dinamik, EA Technique and Zelan, said JF Apex Research.
Country Heights Holdings Bhd was slapped with an Unusual Market Activity (UMA) query by Bursa Malaysia after its share price hit limit down.
Malaysia Smelting Corp Bhd’s (MSC) net profit for 1Q22 surged almost three-fold or 190.86% YoY higher to RM64.34mil.
LBS Bina Group Bhd’s net profit for the 1Q22 rose 20% YoY to RM30.16mil.
Sunway Real Estate Investment Trust’s net property income for 1Q22 jumped 77.4% YoY to RM118.9mil.
Cahya Mata Sarawak Bhd posted a 7.42% YoY drop in 1Q22 net profit to RM72.02mil.
MPHB Capital Bhd has agreed to sell its 51% equity interest in MPI Generali Insurans Bhd for RM485mil, four subsidiaries of Serba Dinamik Holdings Bhd are seeking a restraining order and leave to convene a creditors’ meeting.
PN17 company EA Technique (M) Bhd’s external auditor has expressed a disclaimer of opinion in its audited financial statements for FY21.
Zelan Bhd’s external auditor has also expressed an unqualified opinion with material uncertainty related to going concern in its audited financial statements for FY21.
Meanwhile, JF Apex said the FBM KLCI could retrace towards the support of 1,540 points following the bearish sentiment on Wall Street.
The US market plunged overnight with the Dow posting its worst single day performance since 2020 amid corporate earnings.
Similarly, European stocks tumbled after UK inflation hit the highest in 40 years.