Trading ideas: Hibiscus Petroleum, Dolomite, Econpile, Majuperak and MSM Malaysia


KUALA LUMPUR: Stocks to watch for following recent corporate announcements include Hibiscus Petroleum, Dolomite, Econpile, Majuperak and MSM Malaysia, said Apex Research.

Hibiscus Petroleum Bhd has proposed to undertake a RM800 million capital reduction to eliminate RM690.6 million in accumulated losses as of June 30, 2022.

Hibiscus has also proceeded to pay sales tax amounting to RM85.7 million to the Sabah state government.

Dolomite Corp Bhd has been ordered by the High Court to wind up due to its failure to repay RM177.38 million of debt.

Econpile Holdings Bhd has bagged a RM24.6 million contract from Berjaya Construction Bhd to undertake substructure work for a proposed 41-storey block of service suites in Jalan Imbi, Kuala Lumpur.

Majuperak Holdings Bhd has proposed to collaborate with its 55%-shareholder Perbadanan Kemajuan Negeri Perak to jointly develop assets on several land banks measuring 857.75 acres in Perak.

FGV Holdings Bhd's chief executive officer Datuk Mohd Nazrul Izam Mansor has been appointed to the board of MSM Malaysia Holdings Bhd.

Meanwhile, Apex said the FBM KLCI could extend its rebound towards the resistance of 1,427 points following the positive momentum on Wall Street.

The US market rallied overnight to extend its rebound following lower bond yields and weaker jobs reports.

Similarly, European stocks rose sharply as Euro zone producer prices were higher than expected.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

World stocks push pause ahead of U.S. payrolls
Ringgit strengthens further to 4.38 against US dollar, highest since June
Bursa Malaysia extends after-hours trading session for selected derivatives contracts to 2.30 am
UEM Sunrise disposes 17 parcels of land for RM75.5mil
Reservoir Link wins five solar contracts worth RM12.05mil
FBM KLCI finishes lower despite positive market breadth
CIMB introduces enhanced security measures
Gold slips; set for best week in three on smaller Fed rate-hike bets
Harn Len shareholders approve bonus shares
Asian shares fall ahead of U.S. payrolls data, dollar nurses losses

Others Also Read