KUALA LUMPUR: Stocks that could see trading interest today include Malaysian Resources Corp Bhd (MRCB), Berjaya Corp
Bhd, WTK Holdings Bhd, Quality Concrete Holdings Bhd (QCHB), YTL Power International Bhd, Advancecon Holdings Bhd, Scientex Bhd, SD Guthrie Bhd, and Eco World Development Group Bhd.
MRCB has withdrawn from a consortium that is bidding for the proposed Kuala Lumpur-Singapore high-speed rail (KL-SG HSR) project.
Berjaya Group, which is a part of the consortium via Berjaya Land Bhd, said MRCB has decided to withdraw from the consortium to pursue other strategic opportunities and hence, would no longer be part of the KL-SG HSR Consortium.
WTK has proposed to acquire a 15% stake in Durafarm Sdn Bhd for RM28.32mil cash.
YTL Power’s 60%-owned subsidiary, YTL Communications Sdn Bhd (YTL Comms), has been cleared of any wrongdoing by the Malaysian Anti-Corruption Commission (MACC). The investigation was related to the 1BestariNet Internet project.
QCHB has secured a contract from LCDA Real Estate Sdn Bhd for the proposed alienation, amalgamation, application for a variation of title condition and subdivision of several lots of land in Santubong, Kuching, Sarawak.
Advancecon's wholly owned subsidiary, Advancecon Infra Sdn Bhd, has secured a RM417.7mil contract from Advancecon Development Sdn Bhd, another indirect wholly owned subsidiary of Advancecon.
Scientex posted a lower net profit of RM128.6mil, or earnings per share of 8.29 sen in the first quarter ended Oct 31, compared with RM137.8mil, or 8.89 sen in the year-ago quarter. Its revenue was flat at RM1.11bil.
SD Guthrie, Eco World and NS Corp, representing the Negeri Sembilan state government, will be jointly developing a 1,166 acre industrial park in Bukit Pelandok, Negeri Sembilan, with a gross development value of RM2.95bil.
Overnight, US stocks plunged, with all three major indices posting their biggest daily decline in months after the Federal Reserve cut interest rates by a quarter of a percentage point.
The Fed reduced rates by 25 basis points, bringing them to the 4.25%-4.50% range.
The Dow Jones Industrial Average fell 2.58% to 42,326.87, the S&P 500 lost 2.95% to 5,872.16 and the Nasdaq Composite lost 3.56% to 19,392.69.
