KUALA LUMPUR: There could be increased trading interest in stocks with recent corporate news flow including Hap Seng, Pavilion REIT, VS Industry, Eco World International, Uzma, Trive, KYM and SCIB, said Apex Research.
Hap Seng Consolidated Bhd has proposed to dispose of its entire stake in HS Credit (Manchester) Ltd for RM837.34 million.
Unitholders of Pavilion REIT have approved the proposal to acquire Pavilion Bukit Jalil Mall from Malton Bhd for RM2.2 billion.
VS Industry Bhd’s 2QFY23 net profit dropped 31.76% to RM30.36 million.
Eco World International Bhd’s net loss for the 1QFY24 doubled to RM30.82 million.
Uzma Bhd has secured two contracts from Sabah Shell Petroleum Company Ltd to supply integrated production and integrity chemical and associated services to the Malikai Stage 1 and Gumusut Kakap projects, worth RM68.1 million.
Trive Property Group Bhd’s net profit jumped 18 times to RM24.11 million in 2QFY23.
KYM Holdings Bhd posted a net loss of RM277,000 for 4QFY23.
Nexia SSY PLT has resigned from its role as Sarawak Consolidated Industries Bhd’s external auditor.
Meanwhile, Apex asid the FBM KLCI could pare its recent gains with support at 1,384 points following the decline on Wall Street.
The US market tumbled overnight after the Federal Reserve’s rate hike of 25bps came within expectations.
Similarly, European stocks rose after UK inflation came in higher than estimates.
Investors will be looking forward to today’s weekly jobless claims and new home sales data.