KUALA LUMPUR: Mah Sing Group Bhd
, Ekovest Bhd, Microlink Solutions Bhd, Pentamaster Corp Bhd, KKB Engineering Bhd and Eco World Development Group Bhd are among the stocks to watch on Friday.
Mah Sing has secured its fourth land acquisition of the year, acquiring 5.24 acres of prime freehold land on Old Klang Road, Kuala Lumpur, for RM113mil.
Microlink’s wholly-owned subsidiary, Microlink Systems Sdn Bhd (MSSB) has secured a project worth RM83.5mil from the Ministry of Home Affairs (KDN).
Ekovest is exploring a potential divestment of the company's toll road assets valued at RM5bil.
Bloomberg reported that Tan Sri Lim Lim Kang Hoo, the major shareholder of Ekovest, is working with a financial adviser to evaluate the sale of a majority stake in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd, also known as Kesturi.
Pentamaster’s net profit tumbled almost 50% to RM11.8mil in the third quarter ended Sept 30 compared with RM23.5mil in the same corresponding quarter last year.
Revenue for the quarter fell 16.9% to RM150.2mil against RM180.7mil posted a year ago.
KKB Engineering has secured two contracts and one purchase order, totalling a combined value of RM93mil.
EcoWorld, via its 81%-owned subsidiary Mutiara Balau Sdn Bhd, is buying 10 parcels of land measuring 847.25 acres in Semenyih, Selangor for RM742.41mil cash.
Overnight, the Dow Jones Industrial Average fell 0.59 point, or flat, to 43,729.34, the S&P 500 gained 44.06 points, or 0.74%, to 5,973.10 and the Nasdaq Composite gained 285.99 points, or 1.51%, to 19,269.46.
The United States Federal Reserve (Fed) cut interest rates by 25 basis points (bps) during its Federal Open Market Committee (FOMC) meeting last night.
Apex Securities said the market might extend its decline as investors repositioned into Chinese stocks, anticipating fresh stimulus from the NPC meeting to boost the economy.
China concludes its 5-day NPC standing committee meeting today.
“Sector-wise, the plantation sector may attract buying interest as crude palm oil (CPO) prices continue to surge. Meanwhile, the technology sector may see some profit-taking activity following two days of rally,” it said.
