KUALA LUMPUR: Stocks to watch for on Thursday include Reneuco, Citaglobal, Berjaya Corp
, REDTone Digital, YSP Southeast Asia, ELK-Desa Resourcecs and Techna-X, said Apex Research.
The research firm said a 50:50 JV between Reneuco Bhd and Citaglobal Bhd has won a tender to develop an independent power producer project for the East Coast Rail Link (ECRL) network.
Berjaya Corp Bhd (BCorp) raised its stake in Redtone Digital Bhd to 47.76% (366.86 million shares) after acquiring another 3.18% (24.6 million shares) in the company at about 45 sen per share, or RM11 million, via direct business transactions from Aug 30 till Dec 21.
YSP Southeast Asia Holdings Bhd is buying a property in Bandar Baru Bangi, Selangor for RM31 million for its expansion.
Elk-Desa Resources Bhd has proposed to undertake a bonus issue of up to 151.60 million new shares on the basis of one new share for every two existing shares.
Techna-X Bhd has proposed to undertake capital reduction to rationalise its balance sheet by reducing its accumulated losses.
Apex said the FBM KLCI could stage a rebound towards the resistance of 1,500 points as the year-end window-dressing approaches.
The US market rallied overnight following strong corporate earnings and improved consumer confidence data.
Similarly, European stocks rose to rebound from recent losses with gains from all sectors and industries.
