Trading ideas: 7-Eleven, Eco World Development, Comintel, Visdynamics, KESM, Dayang and Ahmad Zaki Resources

KUALA LUMPUR: Companies that recently made headlines include 7-Eleven, Eco World Development, Comintel, Visdynamics, KESM, Dayang and Ahmad Zaki Resources, said Apex Research.

7-Eleven Malaysia Holdings Bhd will dispose of its 75% stake in Caring Pharmacy Group Bhd to BIG Pharmacy Holdings Bhd at a higher price tag of RM675 million.

Eco World Development Group Bhd’s 3QFY23 net profit climbed 43% to RM66.34 million.

Comintel Corp Bhd’s 2QFY23 net profit surged more than five-folds to RM8.42 million.

Visdynamics Holdings Bhd’s 3QFY23 net profit climbed 18.2% to RM1.59 million.

KESM Industries Bhd fell into the red with an annual net loss of RM3.13 million.

Dayang Enterprise Holdings Bhd’s Pan Malaysia contract from SapuraOMV Upstream (Sarawak) Inc has been extended until Dec 31, 2024.

Ahmad Zaki Resources Bhd (AZRB) plans to undertake a private placement of 10% of its share base to raise RM12.7 million.

The US stock market plunged overnight after the Federal Reserve kept interest rates unchanged but signalled another hike is coming.

Similarly, European stocks also declined a slew of interest rate decisions from central banks in England, Turkey, Sweden, Switzerland and Norway.

On the local market, the FBM KLCI declined 3.35 points or 0.23% to 1448.21 points.

"The FBM KLCI may continue extend its losses with support at 1,433 points," said Apex.

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