KUALA LUMPUR: Public Bank Bhd, Scomi Energy Services Bhd, Pharmaniaga Bhd, Mesiniaga Bhd, T7 GLOBAL, Lotte Chemical Titan Holding Bhd and British American Tobacco (Malaysia) Bhd are among the stocks to watch on Friday, according to JF Apex Research.
Public Bank’s unit Cambodian Public Bank Plc (Campu Bank) has signed a Memorandum of Understanding with China Construction Bank (M) Bhd to jointly develop business opportunities across Cambodia, Malaysia and China.
Meanwhile, Public Islamic Bank Bhd (PIBB), a unit of Public Bank has issued RM500mil nominal Subordinated Sukuk Murabahah.
The proceeds will qualify as Tier 2 regulatory capital for PIBB as well as Public Bank and its subsidiaries.
Scomi Energy's external auditor Messrs KPMG PLT has expressed material uncertainty over the group's ability to continue as a going concern based on its financial statements for FY19.
It also triggered the PN17 criteria as its shareholders’ equity on a consolidated basis has fallen below 50% of its issued share capital as at June 30,2019.
Pharmaniaga could be affected after the Health Ministry announced that the company's 10-year concession will not be renewed.
Mesiniaga has been awarded an RM261.56mil contract to build new infrastructure for the Accountant General's Department of Malaysia.
T7 Global announced it secured three new jobs worth an approximate RM50mil from Petronas Carigali Sdn Bhd, Petrofac (Malaysia-PM304) Ltd and SapuraOMV Upstream (PM) Inc and SapuraOMV Upstream (Sarawak) Inc.
Lotte Chemical Titan’s 3QFY19 net profit fell 58% year-on-year, as the group continued to face margin squeeze due to sliding average product selling prices of polymer products.
BAT Malaysia saw its 3QFY19 net earnings drop 42% year-on-year on lower volume pursuant to illegal cigarette trade.
Meanwhile, US markets tumbled overnight despite strong quarterly earnings amid growing concerns on the US-China trade talks.
Earlier, European stocks declined on news report that Chinese official casted doubt on a long-term trade pact with the US.
“Following the negative performances in the US and Europe, the FBM KLCI could subject to profit taking and decline with support at 1,585 points, ” JF Apex said.
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