KUALA LUMPUR: Stocks to watch on Thursday include Yong Tai Bhd
, RHB Bank Bhd, Malaysia Airports Holdings Bhd (MAHB), CelcomDigi Bhd, Zen Tech International Bhd, Avillion Bhd, Bintai Kinden Corp Bhd, Lotte Chemical Titan Holding Bhd, Infomina Bhd, Censof Holdings Bhd and Cape EMS Bhd.
Yong Tai has proposed disposing of a five-star hotel called “Courtyard by Marriott Melaka” in Melaka to Southern Envoy Sdn Bhd for RM160mil.
RHB Bank has appointed Mohamed Rastam Shahrom as its new group CFO, effective Aug 1.
MAHB has named Datuk Mohd Izani Ghani to take over the role as the managing director for the airport operator effective Aug 1.
CelcomDigi has submitted its proposal for the deployment of Malaysia’s second 5G network to the industry regulator Malaysian Communications and Multimedia Commission to build “the most advanced 5G network”.
Bursa Malaysia Securities Bhd has publicly reprimanded Zen Tech International and eight of its directors for misrepresenting its appointment as a Covid-19 vaccine distributor, and for breaches related to its annual report 2021 and corporate governance.
Avillion’s external auditor Messrs Baker Tilly Monteiro Heng PLT has flagged material uncertainty that would affect the hotel and travel company’s ability to continue as a going concern.
Bintai Kinden, which has two months left to submit its regularisation plan, said approval has been received for the restructuring and rescheduling of the banking facilities of a wholly owned subsidiary, Kejuruteraan Bintai Kindenko Sdn Bhd.
Lotte Chemical Titan reported its ninth consecutive quarterly loss with a narrower net loss of RM248.9mil for the second quarter ended June 30, 2024 (2QFY2024), compared to RM313.5mil in 2QFY2023.
Infomina has bagged a three-year contract worth RM34.71mil to provide technology and infrastructure operations and support services to the National Registration Department.
Censof, through its wholly owned unit Century Software (M) Sdn Bhd, has teamed up with Netherlands-based Storecove to strengthen its position in the e-invoicing market.
Cape EMS, whose stock price has fallen over 30% in the past week, saw its managing director and chief executive officer Christina Tee Kim Chin disposing of 1.895 million shares in the electronics manufacturing services firm.
Overnight, the Dow Jones Industrial Average rose 0.24% to 40,842.79, the S&P 500 gained 1.58% to 5,522.30 and the Nasdaq Composite advanced 2.64% to 17,599.40.
“We anticipate the FBM KLCI to build onto yesterday’s gains as investors cheer onto the dovish stance over the interest rate decision from the Fed overnight,” Apex Securities said.
The research house expects the lower liners to see improved trading sentiment as bargain-hunting activities emerge.
Moving forward, Apex expects the technology sector to recover, mirroring gains in Nasdaq performance overnight.
“Also, we advocate investors to consider gold-related stocks given as interest for the safe-haven asset strengthened amid the threat of conflict escalation in the Middle East coupled with the rising prospects of a potential rate cut in September,” it added.
