At Bursa Malaysia, stocks to watch include HAP SENG CONSOLIDATED BHD [ HAPSENG 2.550 0.010 (0.394%) ], AMMB HOLDINGS BHD [ AMMB 4.150 -0.120 (-2.810%) ], RCE Group Bhd, The New Straits Times Press (M) Bhd and KENCANA PETROLEUM BHD [ KENCANA 1.960 -0.010 (-0.508%) ].
Hap Seng is buying a 50% stake in Menara Citibank for RM303.5 million from Singapore's CapitaLand Ltd and Amsteel Corporation Bhd. The acquisition is crucial for Hap Seng as it seeks to expand its assets.
AMMB Holdings Bhd would be in focus ahead of the release of its first quarter FY2010 results on Aug 11.
NSTP would continue to be in focus on expectations of a privatisation of the company or a demerger.
As for RCE Group, it posted a 36% increase in its net profit at RM18.5 million from a year ago. Revenue rose 42.2% to RM66.98 million on year and 16% on-quarter.
RCE's net loan receivables exceeded RM1.0 billion, surging 33% from a year ago due to the group's marketing and product development efforts to achieve greater market penetration.
Kencana should see trading interest after its unit secured a RM46 million contract from Newfield of the US.
Meanwhile, MRCB and Pelaburan Hartanah Bhd will officially launch Lot G Integrated Development-Retail Mall, KL Sentral.
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