KUALA LUMPUR: Comintel Corp Bhd, Hap Seng Consolidated Bhd, TH Heavy Engineering Bhd, Berjaya Food Bhd (BFood), YTL Corp Bhd and YTL Land And Development Bhd are among the stocks to watch on Friday, according to JF Apex Research.
Comintel Corp’s external auditor Messrs RSM Malaysia has expressed a qualified opinion that the firm has multiple uncertainties that may cast doubt on its ability to continue as a going concern.
Hap Seng Consolidated’s property development unit is disposing of a 20-acre vacant plot of land in Tawau for RM27.14mil.
The sale is expected to result in an RM20.26mil net gain to the group and the disposal consideration will be used to pare down borrowings and or working capital.
TH Heavy Engineering won a US$11.4mil (RM47.4mil) contract from Afcons Infrastructure Ltd of India for an offshore process platform project (CPP & LQUP) for the development of KG-DWN-98/2 NEP Block offshore India.
Berjaya Food registered a net profit of RM4.05mil for the three-month period ended April 30, 2019, from RM837,000 last year on the back of higher Starbucks revenue and lower finance costs.
YTL Corp has announced a plan to delist its property development arm, YTL Land, through a conditional share exchange.
The conglomerate said it intends to acquire all remaining shares it did not own in YTL Land at 36 sen each through the issuance of new YTL Corp shares at RM1.14 each.
Meanwhile, US markets rose overnight, led by energy counters following higher oil prices.
Similarly, European stocks advanced with gains from telecommunication counters following Germany's 5G auction and an attack on oil tankers in Oman lifted oil prices.
“Following the positive performance in the US and Europe, the FBM KLCI could climb towards its resistance of 1,660 points,” JF Apex said.
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