KUALA LUMPUR: Investors could focus on stocks with recent corporate news flow including Dialog, Ipmuda, Censof, JHM and TH Plantations, according to JF Apex Research.

Dialog has bagged an RM360mil contract from Petronas Gas Bhd for the Southern Transmission Improvement and Readiness (STAR) project in Johor.

It said the scope of work of the project involves the engineering, procurement, construction and commissioning of a new booster compressor station with associated equipment and facilities at Mengkibol, Kluang.

Ipmuda, which will soon change its name to Jentayu Sustainables Bhd, said it has received the Sabah government’s approval for its proposal to develop two hydro plants in Sipitang with total capacity of 160 megawatts.

Censof has secured an iPayment contract worth RM13.45mil from the Accountant General’s Department.

JHM plans to raise RM92mil via a private placement for the construction of its new manufacturing facility at the Batu Kawan Industrial Park in mainland Penang.

Under the exercise, up to 55.76 million new shares, representing 10% of JHM’s 557.6 million issued shares, will be issued to independent third party investors to be identified later.

TH Plantations said Tamaco Plantation Sdn Bhd has withdrawn its lawsuit against the group over its decision not to proceed with the proposed disposal of two plantation units for RM170mil.

Bursa Malaysia Securities has commenced de-listing procedures against China Automobile Parts after the company failed to issue annual reports for its FY17 until FY20.

Meanwhile, US stocks climbed overnight despite the Federal Reserve’s signal that it will raise interest rates next year.

According to JF Apex, the market had “got past one of the big uncertainties heading into the year end”.

Following the Federal Open Market Committee meeting, the central bank signalled a more aggressive unwinding of its monthly bond buying, as expected by the market, and forecast three rate hikes on the way next year.

In Europe, stocks closed higher on Wednesday as investors are focused on central bank action this week.

Meanwhile, JF APex expects the FBM KLCI to trend higher following the positive performance in the overseas markets, with support and resistance levels at 1,480 and 1,500 points respectively.



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