jfapex
Daily Highlights - 3 December 2020
Market Thoughts
US markets climbed slightly to eke out another record high while European stocks were mostly lower except for the UK's FTSE which climbed after the vaccine approval.
On the local market, the FBM KLCI shed 3.54 points to1598.72 points. Following the flattish performance, the FBM KLCI could remain sideways below the resistance of 1615 points.
Among stocks to watch are Sunsuria after higher quarterly profit, Bioalpha was appointed by Hong Kong-listed Ritamix Global Ltd as a contract manufacturer to make and supply a longevity dietary supplement, Chin Hin plans to purchase a 1.38ha piece of land in Bandar Kinrara, Puchong for RM59.8 million from SP Setia, AWC Bhd and its partners have bagged a RM20.87 million subcontract relating to a water treatment plant in Melaka, QL Resources Bhd and Boilermech Holdings Bhd have requested for the trading of their shares to be suspended pending an announcement, and AirAsia X Bhd expects the outcome of its ongoing scheme of arrangement under its debt restructuring exercise to inject fresh equity to be known by the end of June next year.
Malaysia News & Highlights
Quarterly Results
- Sunsuria’s 4Q net profit triples q-o-q to RM9m
Company Developments and Outlooks
- Outcome of AirAsia X's debt restructuring exercise likely to be known by June 30, 2021
- Top Glove spent another RM70m to buy back own shares
- QL Resources, Boilermech shares to be suspended tomorrow pending announcement
- UEM Sunrise and EcoWorld proposed merger does not require Cabinet approval — MoF
- Court approves Prestariang Skin's scheme of arrangement with creditors
- Chin Hin Group Property eyes 1.38ha Bandar Kinrara land for RM60m
- Bioalpha partners with HK-listed Ritamix to manufacture dietary supplement
- Plenitude’s upcoming Gurney Walk in Penang secures 30% occupancy
Contract Secured and Awards
- AWC JV secures second water infrastructure project worth RM21m
Change in Boardroom and Management
- Yi-Lai chairman Wong Gian Kui resigns due to personal commitment
- Wan Kuok Koi resigns, former IGP assumes duty of Inix chairman
Foreign News
- S&P 500 ekes out record close as Wall Street weighs new round of stimulus talks
- European stocks close mostly lower but UK’s FTSE 100 climbs on vaccine approval
- Oil jumps more than 1% on UK vaccine approval, ongoing OPEC talks
- Gold rises on stimulus bets, subdued dollar
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