KUALA LUMPUR: Stocks to watch on Thursday include Advancecon Holdings Bhd
, Scientex Bhd, Genting Malaysia Bhd, Resintech Bhd, MKH Bhd, Asian Pac Holdings Bhd and Rex Industry Bhd following their latest news.
Advancecon’s unit, Advancecon Infra Sdn Bhd, has secured a RM66.89mil contract for earthworks and ancillary works under Phase 1, Package 1 of the Southern Ibrahim Technopolis (IBTEC) project in Kulai, Johor.
The project is set to be completed within 16 months starting from Sept 24, 2025.
Scientex reported a net profit of RM530.8mil for the full financial year ended July 31, 2025, slightly down from RM545.2mil in the previous year.
However, the group's revenue reached a new high of RM4.52bil in FY25, up from RM4.48bil in FY24.
Genting Malaysia’s indirect wholly owned subsidiary, Genting Americas Inc (GAI), has filed a motion to dismiss an amended complaint in the United States District Court.
The group stated that the motion was submitted on Sept 12 in response to the amended complaint filed by Rav Bahamas Ltd on July 29.
Genting Malaysia noted that the amended complaint largely restated previous allegations without introducing new material facts.
Resintech has secured a contract valued at US$3.93mil (RM16.5mil) from the Phnom Penh Water Supply Authority in Cambodia for the provision of high-density polyethylene (HDPE) pipes and fittings.
The five-month, non-renewable contract is expected to be completed by February 2026.
MKH’s subsidiary, Metro Kajang Sdn Bhd, plans to sell its entire 100% stake in Vast Furniture Manufacturing (Kunshan) Co Ltd for CNY84mil (RM49.53mil) to streamline its focus on core businesses in property, construction, and oil palm plantation.
Asian Pac Holdings Bhd’s unit, BH Builders Sdn Bhd, is disposing of a 35.72ha freehold land in Ulu Langat, Selangor, to Kueen Lai Properties for RM87.69mil.
The vacant land, located between Bandar Sunway Semenyih and the Kajang Semenyih by-pass, is being sold at a 4.2% discount to its market value.
Asian Pac said the disposal price of RM87.69mil represents a substantial premium of about RM66.8mil, or 3.1 times the original investment cost of RM20.9mil paid on May 19, 2024.
Rex Industry is divesting its loss-making Malaysian food and beverage operations for RM40mil to focus on its more profitable Indonesian business.
The disposal, which involves its wholly-owned subsidiaries Rex Canning Co Sdn Bhd and Rex Trading Sdn Bhd, is subject to shareholder and regulatory approvals.
The move allows Rex Industry to exit its underperforming Malaysian segment, which has been impacted by the closure of its Bukit Minyak facility in 2023 and escalating procurement costs.
