KUALA LUMPUR:UMW Oil & Gas, Sasbadi, Perisai Petroleum, TH Heavy Engineering (THHE) and Destini
are among the stocks which could see trading action on Friday after their corporate news, says JF Apex Research.
UMW Oil & Gas secured a contract from energy firm Hess Exploration and Production Malaysia BV of the Netherlands to provide drilling rig services.
As for Sasbadi, the research house said the group has secured a contract from the Ministry of Education to supply Lego Education robotics sets to schools.
JF Apex Research said Perisai Petroleum's subsidiary has defaulted on its financing facility of US$20.5mil (RM85.97mil) from OCBC Al-Amin Bank Bhd.
THHE and Destini have teamed up to pursue a shipbuilding contract entailing the supply of three offshore patrol vessels for the Malaysian Maritime Enforcement Agency.
Overnight on Wall Street, US markets ended lower overnight after a slew of corporate earnings and economic data as well as selloff in global sovereign bonds.
European stocks were mixed amid higher oil prices and central banks in Norway and Sweden kept interest rates unchanged.
At Bursa, the FBM KLCI lost 4.89 points to 1,669.03, reversing the post-Budget gains on Monday.
“Following the lacklustre performance in the US and Europe, the FBM KLCI could continue its slide with support at 1,650,” it said.
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