KUALA LUMPUR: JF Apex Research expects Vivocom, Karex, ECS ICT and Ho Hup to be among the stocks to watch on Wednesday.
It said Vivocom, the group will be the main contractor for a residential development dubbed “Phase 5 Desa Tasik” and the contract is valued at RM230mil.
Karex has entered into an asset purchase agreement with TheyFit LLC, Dr Michael Cecil and Joseph Nelson for the proposed acquisition of TheyFit's right, title, plus interest to the assets of TheyFit for US$1.3mil (RM5.63mil).
ECS ICT is entering the wearable technologies market after securing the rights to distribute several smartwatches from renowned global brands.
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proposed a nine-for-two bonus issue to reward its shareholders, and a plan to revalue the company's property assets;
Ho Hup plans a renounceable rights issue of ordinary shares and new redeemable preference shares (RPS) of up to 85.14 million to raise as much as RM136.22mil to fund its construction and property development projects.
On the US markets, JF Apex Research said Wall Street closed higher buoyed by a bounce in oil price and positive earnings surprises, ahead of the release of the Fed meeting statement on Wednesday.
European markets recorded strong gains, on the back of a sharp rebound in oil prices and a rally in mining stocks.
At Bursa Malaysia, the FBM KLCI gained 1.45 points to close at 1,626.66, bucking regional trend.
“Following the overnight bullish performance posted by overseas bourses, the KLCI is expected to be positive today with our resistance level at 100-day moving average of 1,650,” it said.
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