KUALA LUMPUR: Stocks to watch on Thursday include Widad Group Bhd, Serba Dinamik Holdings Bhd, IOI Properties Group Bhd, Hong Seng Consolidated Bhd and Notion VTEC Bhd, according to JF Apex Research.
In a report, it said Widad has accepted a Letter of Award from the Public Works Department (JKR) for a RM244.3mil project to build Package 3C of the Kota Bharu–Kuala Krai Expressway in Kelantan.
Serba Dinamik’s 6QFY21 net profit was 86.84% lower than the RM113.32mil reported for the immediate preceding quarter.
IOI Properties has been successful in its bid to buy a 0.78ha leasehold land known as the White site at Singapore’s Marina View enclave for S$1.508bil (RM4.68bil).
Hong Seng has signed an agreement with Pow Pocket Sdn Bhd to work together in the digitalisation of healthcare services through their respective e-commerce platforms.
Notion VTec was back in the red with a net loss of RM11.32mil for its 3QFY21, after three straight quarters of profit.
Karex posted a net loss of RM1.02mil for its FY21, compared with net profit of RM228,000 in FY20 no thanks to unavoidable operational expenses arising from the lockdown and higher distribution expenses.
Gamuda posted a 4QFY21 net profit of RM214.08mil, against a net loss of RM12.52mil a year ago due to stronger construction and property earnings and absence of last year’s one-off non-cash industrialised building system (IBS) assets impairment.
Hiap Teck’s 4Q net profit surged by nearly six times to RM60.48mil from RM10.29mil a year ago, lifted by higher steel prices and higher share of profits from a joint venture entity.
Meanwhile, the US market was flat overnight as bond yields eased slightly after sparking a selldown a day earlier.
European stocks rebounded after September economic sentiment data showed improvement while investors monitor the ECB forum where the US Federal Reserve chairman and ECB president will speak.
“Following the recent rebound, the FBM KLCI could remain sideways below the resistance of 1,555 points,” JF Apex said.