KUALA LUMPUR: Stocks to watch on Friday include Tadmax Resources Bhd, Sunway Construction Group Bhd, Pestech International Bhd, AirAsia Group Bhd, AirAsia X Bhd (AAX), Uchi Technologies Bhd and VS Industry Bhd, according to JF Apex Research.
Tadmax Resources said it received a letter from Worldwide Holdings Bhd expressing interest to acquire the additional 40% equity interest in the project company, Pulau Indah Power Plant Sdn Bhd (PIPP).
Sunway Construction has received a letter of award for highway construction, from the National Highways Authority of India worth a total of 8.64 billion rupees (RM508mil).
Pestech International has bagged a US$7.34mil (RM31.8mil) contract for a project in Cambodia, which entails works for the 230/11kV Okvau Transmission Substation for the Okvau Gold Mine.
AirAsia and AAX will ground most of their fleet and suspend flights from March 28 except a small number, mostly within Indonesia and Thailand.
To further manage and contain costs, AirAsia said its management and senior employees will forego their salary, ranging from 100% at the very top to 15%.
Uchi Technologies warned that it expects revenue in US dollar terms to decline by a low double-digit for its FY20 on lower demand.
VS Industry’s 2QFY20 net profit tumbled 12.4% year-on-year as it recorded lower sales.
Eco World International’s 1QFY20 net profit slumped by 95.61% year-on-year in the absence of higher sales registered a year ago.
Meanwhile, US markets rallied for a third day despite the record high jobless claims as investors remain positive on the stimulus bill.
Earlier, European stocks advanced as investors pin hopes on US $2 trillion stimulus package.
“Following the bullish performances in the US and Europe, the FBM KLCI could extend its rebound towards the resistance of 1,370 points,” JF Apex said.
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