KUALA LUMPUR: Stocks to watch on Thursday include RIMBUNAN SAWIT BHD
, WTK HOLDINGS BHD, LEADER STEEL HOLDINGS BHD, LBS BINA GROUP BHD, TSR CAPITAL BHD and CAPITALAND MALAYSIA MALL TRUST (CMMT), according to JF Apex Research.
Rimbunan Sawit is selling plantation land measuring 4,698.2 hectares to WTK for RM85mil cash.
Leader Steel is acquiring a piece of freehold land in Klang for RM30.67mil to expand its manufacturing cum warehouse facility.
LBS has disposed of all its 9.7% equity stake in China-based Zhuhai Holdings Investment Group Ltd for HK$164.5mil (RM86.05mil).
The group said the disposal will result in a loss of HK$4.2mil (RM2.2mil), but added that its indirect wholly-owned subsidiary Dragon Hill Corp Ltd — which held the stake — has received dividends from Zhuhai Holdings since 2014 totalling HK$20.8mil (RM10.88mil).
TSR Capital is selling its freehold land in Mutiara Damansara, Petaling Jaya measuring 5,078 sq metres for RM48.1mil.
The disposal to Inwin Properties Sdn Bhd is expected to result in a loss of RM4.03mil.
CMMT recorded a 4QFY19NPI of RM49.84mil, down 5.7% against the year-ago quarter, while revenue was flattish at RM85.8mil.
Gadang recorded a 36.3% fall in its 2QFY20 net profit mainly due to fair value loss on quoted investments that amounted to RM3.2mil.
Kim Teck Cheong said that it has obtained the exclusive right to use the Gardenia trademark in Sabah, Sarawak and Indonesia, after inking two separate licence agreements with the registered trademark holders.
The Federal Court yesterday dismissed MPHB Capital’s wholly-owned subsidiary Kelana Megah Sdn Bhd's final appeal over the acquisition of its land by the Johor State Government and Petroliam Nasional Bhd (Petronas) to host the Petronas Refinery and Petrochemical Integrated Development (Rapid) project.
Meanwhile, US markets ended mixed near record high levels amid quarterly earnings and concerns over the Wuhan virus.
The Dow Jones Industrial Average dipped 9.77 points, or less than 0.1% to 29,186.27.
Earlier, European stocks declined as the virus killed 17 people in China.
“Following the negative sentiment due to the Wuhan virus, the FBM KLCI could remain pressured and retest the support of 1,570 points, ” JF Apex said.
