KUALA LUMPUR: Companies with recent corporate announcements include VS Industry, Bintai Kinden
, Leong Hup, GIIB, APB, UMW and Zelan, said Apex Research.
VS Industry Bhd's 3QFY23 net profit fell 47.8% to RM26.8 million.
Bintai Kinden Corp Bhd has ceased to be a substantial shareholder of Malaysian Genomics Resource Centre Bhd (MGRC) after reducing its stake to 3.56% from 5.19%.
Non-independent executive director of Leong Hup International Bhd Tan Sri Lau Eng Guang has acquired 50.05 million shares in the poultry producer for RM22.52 million to raise his stake to 2.803% from 1.431%.
GIIB Holdings Bhd executive chairman and chief executive officer Tai Boon Wee has ceased to be a substantial shareholder of the company after he transferred 45.81 million, representing a 7.748% stake, of his shares to his son.
APB Resources Bhd announced more boardroom changes including the appointment of three new independent and non-executive directors.
UMW Holdings Bhd has signed a maintenance service agreement with Khazanah Nasional Bhd’s subsidiary Cenergi SEA Bhd for a five-year term, with an agreement valued at RM12 million.
Zelan Bhd has decided to terminate the contract of its chief executive officer (CEO) Hazimi Baharum.
Meanwhile, the US market rallied overnight as investors expect the Federal Reserve’s rate-hike cycle is near the end after it skipped a hike this week.
Earlier, European markets ended slightly lower after the European Central Bank raise interest rates by 25 basis points.
"Following the recent low correlation with the US market, the FBM KLCI could remain sideways above its support of 1372 points despite the overnight rally in Wall Street," said Apex.
