,KUALA LUMPUR: Widad Group Bhd, Macpie Bhd, NTPM Holdings Bhd, Velesto Energy Bhd, Boustead Holdings Bhd and Genting Malaysia Bhd are among the stocks to watch on Monday, according to JF Apex Research. Widad said it has completed its RM127.02 million acquisition of Serendah Heights Sdn Bhd, which is a concession holder for the maintenance of the Universiti Teknologi MARA (UiTM) campus in Jasin, Melaka. The deal has boosted Widad’s order book to RM1.5bil. Meanwhile, Widad has also called off its proposed acquisition of Inovatif Mewah Sdn Bhd from Menang Corp Bhd for RM122mil. Inovatif Mewah is a concession business managing UiTM’s Seremban 3 campus. Macpie Bhd, which is acquiring a 35% stake in Techninier Sdn Bhd, said the target company has signed an agreement concerning deployment of services to eSukan.gg, a government linked e-sports portal. NTPM’s net profit jumped by nearly 10 times to RM29.68mil in its third quarter ended Jan 31, 2021, from RM3.07mil a year ago, on lower material costs, higher average selling price, and a gain on disposal of a subsidiary. Velesto Energy has clinched two contracts worth US$20.76 million (RM85.27 million) from Petronas Carigali Sdn Bhd for the provision of jack-up drilling services. Boustead Holdings said Westports and MMC will jointly acquire its loss-making cruise business Boustead Cruise Centre Sdn Bhd (BCC) for RM230mil cash via a 50:50 ratio. BCC is also the registered owner of nine land parcels with buildings and a jetty measuring 69.8 acres on Pulau Indah, which Boustead acquired together with related assets for RM310mil in 2014. Genting Malaysia, through its unit Genting ER II LLC, is injecting another sum of up to US$20 million (RM82 million) into its US-based unit Empire Resorts Inc ny subscribing for an additional 200 Series L Preferred Stock. Meanwhile, the Dow Jones Industrial Average fell on Friday after the Federal Reserve’s decision to not extend a pandemic-era capital break for banks stoked a rise in bond yields and a sell-off in financial stocks. Similarly, European markets closed lower after a spike in bond yields reignited concerns about stock valuations. “The local benchmark index is expected to tread weaker today, as sentiment affected by market sell-off in the US,” JF Apex said.
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