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KUALA LUMPUR: Scientex Bhd 
, Daibochi Bhd, Gas Malaysia Bhd , Advancecon Holdings Bhd, GHL Systems Bhd , SP Setia Bhd and Amway (M) Holdings Bhd are among the stocks to watch on Thursday, according to JF Apex Research.
Scientex will launch a mandatory takeover of Daibochi to expand the flexible packaging business after it acquired a controlling 42.41% stake for RM222.50mil or RM1.60 per Daibochi share in a share swap (one new Scientex share for every 5.5 Daibochi shares).
Gas Malaysia’s 3QFY18 net profit rose 22.1% year-on-year, on higher volume of natural gas sold and higher income arising from asset contribution from customers.
GHL Systems has inked an agreement with Visa Worldwide Pte Ltd that will allow the former to offer electronic payment services and VISA card acceptance in Malaysia.
Advancecon has bagged an RM43.37mil contract from Sime Darby Serenia Development Sdn Bhd to undertake earthworks and appurtenance works for Phase 2 of the Serenia City township development in Sepang, Selangor.
SP Setia’s 3QFY18 net profit fell 81.32% year-on-year due to a lack of profit contribution from the completion of Phase 1 of the Battersea Power Station which was recorded in FY17’s corresponding quarter.
Amway’s 3QFY18 net earnings increased by 14.7% year-on-year on higher sales, favourable foreign exchange impact on cost of sales, and lower operating expenses.
Meanwhile, US markets tumbled for a 5th straight day led by losses in financial counters.
Similarly, European stocks declined following concerns on Brexit and Italy’s budget deficit.
“Following the bearish performance in the US and Europe, the FBM KLCI is expected to remain pressured and trend lower towards the support of 1,660 points,” JF Apex said.
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