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buy apple account( ideas: Ekovest, Symphony Life, MBSB, QL Resources, Genting Plantations


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KUALA LUMPUR: JF Apex Research expects Ekovest Bhd, Symphony Life Bhd, Malaysia Building Society Bhd (MBSB), QL Resources Bhd and Genting Plantations Bhd to be among the stocks to watch on Thursday.

In a report, JF Apex noted that MBSB, Genting Plantations, Hap Seng, Sime Darby, Velesto Energy, Icon Offshore, Syarikat Takaful, Handal Energy, Optimax, D&O, Uchi Tech recorded higher year-on-year quarterly earnings.

On the other hand, QL Resources, Amway, Allianz, CJ Century, CCK posted weaker year-on-year quarterly results.

Ekovest is proposing to provide financial assistance amounting to S$77.28mil (RM240.34mil) to its indirect 29%-owned joint venture (JV) company MCC Land (TMK) Pte Ltd in the form of deed of undertaking for banking facilities obtained by the latter from licensed financial institutions based in Singapore.

The largest shareholder of property developer Symphony Life has called for an upcoming extraordinary general meeting (EGM) scheduled for Sept 23 to vote on the removal of three directors, whom it said it disagrees with on the direction they were taking the company, and to replace them with three others.

The resolutions to remove the directors were initiated by Theron Holdings Sdn Bhd, a wholly-owned subsidiary of Muar Ban Lee Group Bhd.

Meanwhile, the US market eked out small gains with the S&P and Nasdaq inching to record highs as investors look to the Federal Reserve's Jackson Hole symposium for clues of tapering.

Earlier, European stocks ended mixed as Germany's business climate declined while the UK's retail spending increased.

“Following this week's rally, the FBM KLCI could take a breather and consolidate below the resistance of 1,580 points,” JF Apex said.



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