KUALA LUMPUR: JF Apex Research expects Tiger Synergy, AmanahRaya REIT, Xin Hwa, EA Holdings
and Country View to be among the stocks to watch on Friday.
It said Tiger Synergy secured a RM1bil contract to build affordable homes in Seremban.
As for AmanahRaya REIT, it has proposed to sell a piece of freehold land in Shah Alam to Nippon Express (M) Sdn Bhd for RM105mil.
Xin Hwa won a RM16.8mil job to deliver precast viaduct and other related products for the Bandar Utama-Klang LRT line (LRT3).
Country View is selling 139 pieces of land in Kulim, Kedah for a combined RM119.95mil to finance the purchase of a piece of land in Pulai, Johor Baru.
EA Holdings is diversifying into the packet food business by buying a 90% stake in Sunland Volonte Agency Sdn Bhd for RM78.75mil. This will be funded via the issuance of 1.59 billion new shares at an issue price of four sen per share and RM15mil cash.
EA Holdings also proposed a bonus issue of up to 1.59 billion free warrants, on the basis of five warrants for every 16 existing shares.
Overnight on Wall Street, US markets closed lower after two Senators showed doubt on the tax reform.
European stocks ended lower following losses in utility and industrial companies after meetings of central banks in Europe, England and the US.
At Bursa Malaysia, the FBM KLCI rallied 21.34 points to end at 1,759 on foreign buying of local banks.
“Following its three-day rally, the KLCI could take a breather as investors take profit. Support is seen at 1,730,” it said.
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