KUALA LUMPUR: Stocks to watch today include Subur Tiasa Holdings Bhd, Rimbunan Sawit Bhd
, Public Bank Bhd
, Jati Tinggi Group Bhd
, Scanwolf Corp Bhd
, Matrix Concepts Holdings Bhd and Poh Kong Holdings Bhd
, PUC Bhd
and Kumpulan Perangsang Selangor Bhd
(KPS).
A company linked to Sarawak timber and media baron Tan Sri Tiong Hiew King is acquiring a 13.75% stake in Borneo Edible Oils Sdn Bhd (BEO) from two Main Market-listed companies, Subur Tiasa and Rimbunan Sawit, for RM5.35mil cumulatively.
The acquiring company, Tiong Toh Siong Holdings Sdn Bhd (TTSH), is a major shareholder of both Subur Tiasa and Rimbunan Sawit.
Public Bank and Jati Tinggi have signed a memorandum of understanding (MOU) for a project valued at RM14.88mil.
Scanwolf has secured a contract worth RM6mil from Golden Rainbow View Sdn Bhd for the provision of supply, delivery, construction, and completion of sales gallery work, excluding interior design.
Matrix Concepts broke ground for the first phase of the Malaysia Vision Valley City (MVV City) project in Negeri Sembilan on Tuesday. Matrix Concepts will jointly develop MVV City Phase 1 with the Negeri Sembilan state government (NS Corp), with the developer holding an 85% stake and leading the development.
Poh Kong said its net profit for the first quarter ended Oct 31, 2024 rose to RM21.34mil from RM19mil in the previous corresponding period, while revenue dipped to RM329.28mil from RM355.98mil a year earlier.
PUC has revised the proposed acquisition of Alevate Solutions Sdn Bhd for a total consideration of RM100mil together with an implementation of a share issuance scheme (SIS).
KPS is challenging the RM7.89mil capital gains tax (CGT) assessment and the non-filing penalty imposed by the Inland Revenue Board (IRB). KPS said there are reasonable grounds to apply for cancellation of the CGT assessment and penalty.
Overnight, the Dow Jones Industrial Average fell 0.61% to 43,449.90, the S&P 500 slid 0.39% to 6,050.61 and the Nasdaq Composite dropped 0.32% to 20,109.06.