KUALA LUMPUR: Stock with recent corporate announcements that could see increased trading action include Country Heights, Malaysia Smelting Corp, LBS Bina Group, Sunway REIT, Cahya Mata Sarawak, Signature International, Fiamma, MPHB Capital, Serba Dinamik, EA Technique and Zelan, said JF Apex Research.
Malaysia Smelting Corp Bhd’s (MSC) net profit for 1Q22 surged almost three-fold or 190.86% YoY higher to RM64.34mil.
MPHB Capital Bhd has agreed to sell its 51% equity interest in MPI Generali Insurans Bhd for RM485mil, four subsidiaries of Serba Dinamik Holdings Bhd are seeking a restraining order and leave to convene a creditors’ meeting.
PN17 company EA Technique (M) Bhd’s external auditor has expressed a disclaimer of opinion in its audited financial statements for FY21.
Meanwhile, JF Apex said the FBM KLCI could retrace towards the support of 1,540 points following the bearish sentiment on Wall Street.
The US market plunged overnight with the Dow posting its worst single day performance since 2020 amid corporate earnings.
Similarly, European stocks tumbled after UK inflation hit the highest in 40 years.