KUALA LUMPUR:
BHS Industries, Yong Tai, Sarawak Cable,
Sumatec and Minetech could see trading action on Thursday after their corporate news, says JF Apex Research.
BHS Industries is in talks with potential investors to build a tissue paper factory, as part of the Phase 1 development of Pekan Green Technology Park in Pekan, Pahang.
JF Apex Research said Yong Tai has sold en bloc RM461mil worth of properties in Phase 1A of its RM5.4bil Impression City mixed development in Melaka to Orient Venture Properties Bhd.
Sarawak Cable has secured a RM55.9mil contract from Tenaga Nasional to build two double circuit transmission lines.
Sumatec’s Miri-based associate Semado Maritime Sdn Bhd has defaulted on the repayment of RM165.21mil to Bank Pembangunan Malaysia Bhd.
JF Apex Research also said Minetech obtained a RM24m two-year extension on its Pahang gold mine job.
Overnight on Wall Street, US markets ended mixed amid corporate results season, lower oil price, improved PMI and new home sales, as well as lower mortgage applications.
Earlier, European stocks closed lower as investors digested a slew of earnings and lower oil price.
JF Apex Research said at the local bourse, the FBM KLCI lost 3.51 points to 1,673.92.
“Following the lacklustre performance in the US and Europe, the FBM KLCI is expected to remain flat below the resistance of 1,700,” it said.