KUALA LUMPUR: Fraser & Neave Holdings Bhd
(F&N), Techbond Group Bhd, Notion VTEC Bhd, DRB-Hicom and AEON Credit Service (M) Bhd are among the stocks to watch on Friday, according to JF Apex Research.
F&N said it is considering its options regarding the RM156mil acquisition of land in Perlis from MSM Perlis Sdn Bhd as the latter had indicated that it will not grant any extension of time to satisfy the conditions in the agreement.
Techbond said the commencement of operations at its new Vietnam factory has been postponed, as the COVID-19 outbreak has resulted in the delay of the issuance of certifications by the Vietnamese authorities.
Notion VTec is venturing into the manufacturing of protective face shields and components related to medical ventilators.
DRB Hicom’s 50.1%-owned subsidiary Proton Holdings Bhd said it will be producing face shields to assist the frontliners in the fight against the COVID-19 pandemic, with the national automaker aiming to produce 60,000 units within 20 days.
Omesti has bagged a contract worth RM95.59mil from Telekom Malaysia Bhd (TM) to build a new business support systems platform. It added the renewal of the application software subscription for years three, four and five will be at an estimated price of RM104.99 million, subject to TM’s approval.
Aeon Credit's net profit for the fourth quarter ended Feb 29, 2020 was flat at RM88.39mil versus RM87.61mil a year earlier, despite recording higher revenue, due to higher interest and tax expenses.
Meanwhile, US markets rose around 1% overnight after the Federal Reserve announced details of a US$2.3 trillion stimulus that outweighed jobless claims of 6 million.
The S&P 500 gained 1.5% to close at 2,789.82 while the Dow Jones Industrial Average advanced 285.80 points, or 1.2%, to 23,719.37.
Earlier, European stocks also advanced on the Fed's stimulus to mitigate the economic impact from the coronavirus.
“Following the positive performance in Wall Street as well as OPEC's decision to cut production by 10 million barrels, the FBM KLCI could extend its rebound towards 1,400 points,” JF Apex said.
