KUALA LUMPUR: JF Apex Research expects Kelington Group Bhd, Kumpulan Perangsang Selangor Bhd (KPS), UEM EDGENTA BHD, Gadang Holdings Bhd, Brahim’s Holdings Bhd (BHB) and Handal Resources Bhd to be among the stocks to watch on Wednesday.
Kelington has clinched several new orders totalling RM53mil, bringing the group’s total value of new orders secured to RM146mil in the first quarter ended Dec 31, 2019.
KPS said its wholly-owned subsidiary Perangsang Packaging Sdn Bhd has proposed a selective capital reduction (SCR) and repayment exercise for industrial packaging firm CENTURY BOND BHD at RM1.75 per share.
UEM Edgenta’s unit Opus Consultants (M) Sdn Bhd has been named the project management consultant (PMC) by the Sarawak Government for its RM11bil Coastal Road Network and Second Trunk Roads project.
Gadang has bagged a contract worth RM38.52mil to build a tiered bridge connecting the northern and southern sites of Tun Razak Exchange Development (TRX).
PricewaterhouseCoopers (PwC), the external auditor of Brahim’s, has made an unqualified opinion on the latter’s financial statements, highlighting a material uncertainty related to the group’s going concern.
Handal Resources has inked a share sale agreement that would pave the way for a reverse takeover (RTO) of the integrated offshore crane services provider by oil and gas (O&G) player Borneo Seaoffshore Engineering Sdn Bhd (BSOE) in a deal worth RM25.5mil.
Meanwhile, US markets rose overnight amid positive corporate earnings and dovish remarks from Federal Reserve officials.
Earlier, European stocks gained after quarterly results and improved economic data.
“Following the recent lackluster performance, the FBM KLCI could extend its sideways movement above the support of 1,623 points,” JF Apex said.