KUALA LUMPUR: JF Apex Research expects
IOI Properties,
CAM Resources, IHH Healthcare, WCT, D.B.E. Gurney, ELK-Desa and Titijaya Land to be among the stocks to watch on Monday.
It said IOI Properties won a bidding war over a sought-after prime land parcel in Singapore and will leverage on the strong demand for prime office space in the republic.
As for CAM Resources, the group has received feed-in tariff approval from the Sustainable Energy Development Authority Malaysia (SEDA) for a 7MW renewable energy plant in Taiping, Perak.
JF Apex Research said IHH is divesting a 29.9% equity stake in PCH Holding Pte Ltd – the holding entity for the group's China portfolio of primary care clinics and greenfield hospital projects – to China's Taikang Insurance Group Inc for RMB1.1 billion (RM689.6mil) cash.
WCT group has received an offer from the Employees Provident Fund (EPF) to acquire an office space that forms part of “The Paradigm Petaling Jaya” integrated development for RM347mil.
As for D.B.E. Gurney, the group has renewed two supply of poultry products agreements (with KFC (Peninsular Malaysia) Sdn Bhd and QSR Stores Sdn Bhd) that are expected to generate a turnover of RM50mil to the group for FY17.
ELK-Desa announced a rights issue, on the basis of every one rights share for every five existing shares, to raise up to RM59.84mil, mainly for more hire purchase disbursements.
Titijaya Land has proposed one-into-two share split and thereafter one for two free warrants.
Last Friday, US markets extended their post-election rally on Friday with the Dow posting its best weekly performance since 2011.
In contrast, European stocks declined following uncertainties after the US election and lower oil prices.
On the local market, the FBM KLCI plunged 18.55 points to close at 1,634.19s on the back of the Ringgit slump.
“Following the bearish momentum sparked by Donald Trump's victory in the US election, the KLCI is expected to remain volatile and uncertain with a negative bias with immediate support at 1610,” it said.