Trading ideas: KNM, TIME, Hibiscus, One Glove, Dolphin International, Hexza


KUALA LUMPUR: Stocks to watch on Monday include KNM Group Bhd, TIME Dotcom Bhd, Hibiscus Petroleum Bhd, One Glove Group Bhd, Dolphin International Bhd and Hexza Corp Bhd, according to Apex Securities.

KNM says the postponed court-convened meeting on Oct 12 to a later date was ordered by the Court to address the concerns of the minority of creditors in value.

The Employees Provident Fund (EPF) has raised its stake in TIME to 9% after acquiring a 1.47% stake in the telecommunications service provider and data centre operator.

Hibiscus’ wholly owned unit Anasuria Hibiscus UK Ltd has received conditional approval for its proposed acquisition of a 42.5% stake in Rapid Oil Production Ltd’s licence for an undeveloped oil field known as Fyne Field.

One Glove plans to undertake a capital reduction of RM120mil to eliminate accumulated losses of the glove manufacturing company.

Palm oil mill manufacturer Dolphin has decided not to proceed with a rights issue that it had proposed early this year for now, as it intends to relook into the exercise in its entirety and revise the utilisation of the proceeds to be raised.

Hexza spent US$7.77mil (RM36.72mil) to acquire 185,000 shares in Nasdaq-listed robotics warehouse automation company Symbiotic Inc.

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