KUALA LUMPUR: JF Apex Research expects Emas Kiara, Scomi Energy, Pintaras Jaya
and Sarawak Cable to be among the stocks to watch on Monday.
Emas Kiara has received a notice of unconditional takeover offer from its second largest shareholder Kim Feng Capital Sdn Bhd at 80 sen per share. KF Capital owns 15% of the company.
Scomi Energy bagged a US$41.6mil contract from PT Total E&P Indonesie (TEPI), Indonesia's biggest gas producer, to provide drilling fluids and completions services for one year.
Pintaras Jaya secured a RM72.8mil contract from Central Plaza I-City Real Estate Sdn Bhd.
As for Sarawak Cable, the group is believed to be in talks with a local privately held firm over the potential sale of its loss-making helicopter service unit.
JF Apex Research said US markets tumbled on Friday after oil price fell below US$30 per barrel and continuous selldown in China's stock market. Similarly, European stocks declined sharply following concern of global economic slowdown.
At Bursa Malaysia, the FBM KLCI lost 4.89 points after a last minute sell off pushed the index to its intra day low of 1,628.55.
“Following the bearish performance of Wall Street and global markets, the index is expected to test its support at 1,620. Market direction could be influenced by the announcement of China's GDP today,” it said.
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