KUALA LUMPUR: Stocks to watch on Thursday include Heitech Padu Bhd, Hong Leong Bank Bhd, Genting Malaysia Bhd, Caely Holdings Bhd, Axis Real Estate Investment Trust’s (Axis REIT), Vizione Holdings Bhd and Reneuco Bhd, according to Apex Securities.
Heitech bagged two contract extensions from the Road Transport Department (JPJ), amounting to an additional contract value of RM23.72mil.
Permodalan Nasional Bhd (PNB) has said it plans to vote against Hong Leong Bank Bhd’s proposal to issue shares, citing insufficient disclosure on the matter as the reason.
Macau is said to have unconditionally accepted Genting Malaysia’s bid for the award of a new 10-year gaming concession involving casino operation.
Caely said it has filed a suit against its founder and former executive director Datin Fong Nyok Yoon, her husband and former managing director Datuk Chuah Chin Lai, and 10 of its ex-directors over the alleged misappropriation of RM30.55mil.
Axis REIT's net property income for 3Q22 climbed 12.54% YoY to RM61.49mil.
Vizione posted a wider net loss in its 3QFY22 of RM7.915mil.
Reneuco has entered into a conditional share sale agreement to acquire Adat Sanjung Sdn Bhd (ASSB) for RM90mil in a cash-plus-shares deal.
MN Holdings Bhd has clinched a substation engineering contract worth RM22.5mil in Nusajaya Technology Park, Johor.
Meanwhile, the US market snapped its two-day rally after 10-year Treasury yield hit its highest level since 2008.
The Dow Jones Industrial Average slipped 99.99 points, or 0.33%, to finish the day at 30,423.81. The Nasdaq Composite lost 0.85% to close at 10,680.51 while the S&P 500 ticked down 0.67% to 3,695.16.
Similarly, European stocks declined after the UK's inflation hit a 40-year high.
“Following the decline in Wall Street, the FBM KLCI could pull back its recent gains towards the support of 1,400 points,” Apex said.