KUALA LUMPUR: AirAsia Group Bhd, Green Packet Bhd, Dagang Nexchange Bhd (DNeX), Pantech Group Holdings Bhd, CIMB Group Holdings Bhd and Bintai Kinden Corp Bhd are among the stocks to watch on Friday, according to JF Apex Research. AirAsia is proposing to issue up to 668.39 million new shares or 20% of its current share capital for private placement to raise RM454.51mil. The proposed sum is based on an indicative price of 68 sen per share. A tech fund promoted by Green Packet is funding the majority shareholders of Nuglobal Ventures Sdn Bhd which is keen on taking over Khazanah Nasional Bhd's semiconductor fabricating company SilTerra Malaysia Sdn Bhd. DNeX clarified that it has not entered into any definitive agreement to acquire Khazanah Nasional Bhd's semiconductor fabricating company SilTerra Malaysia Sdn Bhd. It said the company nevertheless is constantly evaluating various proposals to grow its business organically or through acquisitions including that of SilTerra. UOA REIT’s net rental income for the fourth quarter ended Dec 31, 2020 fell 10.81% year-on-year no thanks to rental rebates given to eligible tenants. Pantech said its third-quarter net profit fell 14.8% yoy as revenue dropped partly due to a decrease in sales of the company's products to O&G customers at a time when the industry contended with the impact of the Covid-19 pandemic. CIMB's 94.8%-owned subsidiary CIMB Thai Bank PCL saw its net profit for FY20 decline 36% year-on-year mainly due to increase in provisions and an expected credit loss. Bintai Kinden announced that it intends to diversify into property development and management as a strategy to reduce its “reliance solely on the mechanical and electrical (M&E) engineering business”. On top of that, the company is also proposing a private placement exercise to raise fresh capital of RM58.43mil to fund the new venture. Meanwhile, US markets were flat overnight amid corporate earnings and investors looking forward to President Joe Biden's stimulus plan. Earlier, European stocks declined after the European Central Bank kept interest rates unchanged. “Following the mixed performances in the US and Europe, the FBM KLCI could remain lacklustre and test the support of 1,590 points,” JF Apex said.
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