KUALA LUMPUR: Stocks in focus on Monday include Pharmaniaga
, Top Glove, Alliance Bank, Handal Energy, Pertama Digital, Media Chinese International, SFP Tech, Mi Technovation, WTK and PPB, said Apex Research.
Pharmaniaga Bhd’s 2Q23 net profit more than doubled to RM1.96 million.
Top Glove Corp Bhd has been dropped as a constituent for the MSCI Global Standard Indexes.
99 Speedmart founder Lee Thiam Wah has ceased to be a substantial shareholder of Alliance Bank Malaysia Bhd.
Singapore-based Deepetro Offshore Brokers Pte Ltd has ceased to be a substantial shareholder of Handal Energy Bhd.
Pertama Digital Bhd said it is not proceeding with the placement of its shares to Australia-based Macquarie Bank Ltd to raise gross proceeds of up to RM87.8 million.
Media Chinese International Ltd said 2Q23 net losses may widen to between US$2 million and US$3 million.
SFP Tech Holdings Bhd’s 2Q23 net profit rose 63.23% to RM10.63 million.
MI Technovation Bhd’s 2Q23 net profit rose 21.8% to RM22.73 million.
WTK Holdings Bhd has proposed to buy a stake in an oil palm plantation company in Sarawak for RM132.2 million.
PPB Group Bhd is disposing of its 51%-owned indirect subsidiary in Indonesia for RM87.5 million cash.
Meanwhile, the US market ended mixed on Friday after July’s producer price index was higher than expected.
Earlier, European markets were also lower after a fresh round of corporate earnings and higher-than-anticipated US inflation data.
On the local market, the FBM KLCI lost 1.77 points or 0.12% to 1457.16 points.
Following the state elections which saw status quo, the FBM KLCI could climb and retest the resistance of 1,465 points after the removal of political uncertainties as the opposition failed to mount a challenge on the federal government.
