KUALA LUMPUR: Stocks to watch on Friday include Scientex Bhd
, Solarvest Holdings Bhd, Supermax Corp Bhd, Salcon Bhd, Malaysia Airports Holdings Bhd (MAHB), Pentamaster Corp Bhd, Globetronics Technology Bhd, MR DIY Group (M) Bhd and MCE Holdings Bhd.
Scientex is partnering with Solarvest to deploy a 21-megawatt peak rooftop solar photovoltaic (PV) system at its facilities nationwide.
Supermax has acquired the remaining 33% equity interest in Supermax Healthcare Canada Inc (SHCI) for RM18.96mil.
Salcon said Envitech Sdn Bhd, a 60%-owned subsidiary of Salcon Engineering Bhd, has been awarded a job by Rantau Urusan (M) Sdn Bhd for the design and construction of a sewerage treatment plant in Durian Sebatang, Hilir Perak, Perak.
MAHB named former Malaysian Aviation Commission (Mavcom) executive chairman Dr Nungsari Ahmad Radhi as its director effective immediately.
Pentamaster reported an 8.92% year-on-year decline in its net profit for the first quarter of 2024 (1QFY2024) as slightly higher revenue was impacted by lower other income and share of loss of associates.
Globetronics’ net profit jumped 73.42% year-on-year for its first quarter ended March 31, 2024 (1QFY2024), thanks to a foreign exchange (forex) gain and higher interest income.
Mr DIY’s net profit rose 13% in the first quarter from a year earlier, thanks to sales from new stores, while margins expanded as supply chain disruption and freight costs eased.
MCE said Brahmal Vasudevan has emerged as a substantial shareholder with a 5.02% indirect stake in the automotive parts and accessories manufacturer.
Kerjaya Prospek Property Bhd will jointly develop a piece of freehold land in Aspen Vision City, Batu Kawan, Penang into a mixed development that will include a hotel and serviced apartments.
MAA Group Bhd, a substantial shareholder of KNM Group Bhd, has extended a RM13.5mil loan to address the working capital requirements of the Practice Note 17 (PN17) company.
Annum Bhd, formerly known as Cymao Holdings Bhd, will hire a new audit firm to conduct a special audit on its revenue after its external auditor Messrs SBY Partners PLT said it cannot verify the figures Annum reported despite performing additional audit procedures.
Overnight, the S&P 500 gained 0.51% to 5,214.08 points, while the Nasdaq Composite added 0.27% to 16,346.27. The Dow Jones Industrial Average rose 0.85%, to 39,387.76.
Apex Securities said the extended inflows of foreign funds are likely to provide support to the local stock market.
It reckoned further gains may come thanks to the improved global market sentiment.
“Key economic data to be monitored include Malaysia’s industrial production data, and unemployment rate, along with the UK’s industrial and manufacturing production data and preliminary 1Q24 GDP as well as the US’s Michigan Consumer Sentiment.
“Moving forward, we remained optimistic on the oil & gas sector as demand from China may start to pick up after imports surged past market expectations. The construction sector is also expected to march higher in line with the availability of a total of RM180bil in development funds allocation from the government and the private sector,” Apex said.
