KUALA LUMPUR: Stocks to watch on Wednesday include Eonmetall Group Bhd, Sarawak Consolidated Industries Bhd (SCIB), Mitrajaya Holdings Bhd, LKL International Bhd, Sapura Energy Bhd, Genting Malaysia Bhd, Dialog Group Bhd and Berjaya Food Bhd, according to JF Apex Research. Lienteh Technology Sdn Bhd, which is expected to obtain necessary approvals to commence production of nitrile gloves, is seeking a back-door listing via Eonmetall Group. Eonmetall, via a share sale agreement, is planning to acquire a 51% stake in Lienteh Technology for RM51mil. SCIB’s units have bagged contracts worth RM821.32mil in Malaysia and Qatar for engineering, procurement, construction and commissioning (EPCC) projects. Mitrajaya has bagged an RM200mil contract to build a transit-oriented development in Putrajaya. LKL International entered into a Memorandum of Understanding with Singapore-based iWOW Technology Pte Ltd to explore a potential cooperation to market and develop an electronic Covid-19 contact tracing product. Sapura Energy has clarified that the bankruptcy filing by Seadrill Ltd’s Asian units did not affect its Brazil joint venture Sapura Navegacao Maritima SA, noting that Seadrill Asian’s Chapter 11 filing does not have any effect on the contracts with Petrobras in Brazil which forms the main revenue for Sapura Energy’s Brazil JV business. Genting Malaysia's 49%-owned associate Genting Empire Resorts LLC, which operates the Resorts World Catskills (RWC) casino in New York, said developing a video gaming machine facility in Orange County has, for many years, been part of RWC's long-term vision for Hudson Valley and Catskills within the US state. Dialog’s 2QFY21 net profit fell 16.9% year-on-year, due to lower share of profits from joint ventures and associates. This was despite a 5.8% increase in quarterly revenue year-on-year. Berjaya Food’s 2QFY21 net profit rose 39% year-on-year, thanks to the implementation of effective cost management. Sunway REIT’s 2QFY21 net property income (NPI) fell 43.4% year-on-year, due to lower contributions from its retail and hotel segments that were impacted by the Covid-19 pandemic. Teo Seng Capital slipped to a net loss of RM2.13mil in 4QFY20 from a net profit of RM13.62mil a year ago, due to the depressed selling prices of eggs. MMHE slipped into a net loss of RM8.56mil its 4QFY20, from a net profit of RM9.28mil a year ago, dragged by higher operating losses in the heavy engineering segment. JF Technology said robust demand for its semiconductor test contacting solutions boosted margins in its 2QFY21. Net profit surged to RM4mil from RM1.4mil a year ago as revenue rose to RM9.3mil from RM6mil previously. Meanwhile, US markets ended mixed with the Dow and S&P snapping a 6-day winning streak while the Nasdaq climbed amid stimulus talks, quarterly earnings and concerns over mutation of the coronavirus. Earlier, European stocks declined amid vaccine rollout and corporate results. “Following the mixed performances in the US and Europe, the FBM KLCI could trend sideways below the resistance of 1,615 points,” JF Apex said.
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