KUALA LUMPUR: Stocks to watch for on Thursday include FGV, Caley, OCK and Techna-X, said Apex Research.
FGV Holdings Bhd
as it has failed to strike out a counterclaim by five of its former non-executive directors, including Tan Sri Ismee Ismail and Tan Sri Sulaiman Mahbob, over the controversial acquisition of Asian Plantations Ltd in 2014.
Caely Holdings Bhd has filed a police report against 12 shareholders, including former managing director Datuk Chuah Chin Lai and his wife Datin Fong Nyok Yoon, for allegedly misappropriating nearly RM31 million in funds.
OCK Group Bhd has signed a shareholder agreement with the Ministry of Finance (MOF) in Laos that will allow it to tap into the telecommunications industry in Laos.
Techna-X Bhd has dropped plans for a backdoor listing of its 50%-owned Chinese capacitor technology subsidiary, HK Aerospace Beidou New Technology Co Ltd (HKAB), via Singapore-listed Chaswood Resources Holdings.
Meanwhile, Apex said the FBM KLCI could remain sideways below the resistance of 1,427 points following the pull back on Wall Street.
The US market declined overnight to end a two-day rebound rally following rising bond yields.
Similarly, European stocks tumbled after Euro zone PMI dropped to a 20-month low.
