KUALA LUMPUR: Stocks to watch on Friday include LYC Healthcare Bhd, Caely Holdings Bhd
, Ni Hsin Resources Bhd, MTD ACPI Engineering Bhd, Gas Malaysia Bhd and Serba Dinamik Holdings Bhd, according to JF Apex Research.
The research house also expects Key Alliance Group Bhd, SP Setia Bhd, Gadang Holdings Bhd, K-One Technology Bhd, Dialog Group Bhd and Ancom Bhd to see trading intest.
LYC Healthcare is partnering with a local IT company to market a Covid-19 contact tracing app, named the Forwen Tracker, in Malaysia.
Caely will make fabric protective masks and personal protective equipment (PPE) for Ni Hsin Resources under an agreement signed yesterday.
Key Alliance has introduced an artificial intelligence-enhanced platform that allows businesses to record visitors’ temperatures and details and recognise repeat visitors to provide greater accountability and assist in contact tracing.
K-One Technology said its 60%-owned unit, G-AsiaPacific Sdn Bhd (G-Asia Malaysia), is setting up a company in Singapore to provide cloud computing services.
The company noted that COVID-19 has catalysed a number of companies migrating to the cloud, with the phenomena visible in Malaysia, Singapore and across the globe.
MTD ACPI Engineering has bagged a RM184.17mil contract for the construction and completion of earthworks and infrastructure for the development of the Chuping Valley Industrial Area Phase 1 in Perlis.
Gas Malaysia’s 1QFY20 net profit grew 16.26% year-on-year, on the back of higher gas contribution and lower other cost of sales.
Serba Dinamik expects its revenue and earnings to grow between 10% and 15% this year, despite the Covid-19 crisis.
SP Setia saw its 1QFY20 net profit drop 62% year-on-year, on lower earnings from its property development and construction segments, partly due to the Movement Control Order (MCO), which led to closure of sales offices, construction sites and social activities, resulting in disruptions to the operations of its businesses.
Gadang’s 3QFY20 net profit fell 24.6% year-on-year, mainly due to lower earnings from the construction division.
Dialog saw its 3QFY20 net profit rise 5.1% year-on-year following the better performance from its Langsat Terminals and Pengerang Independent Terminal (PITSB).
Ancom returned to the black in its 3QFY2020, posting a net profit of RM165,000, from a net loss of RM3.87mil a year prior, underpinned by higher gross profit and other income, which was further helped by lower distribution expenses and finance costs and cost of sales.
Meanwhile., US markets surged overnight following gains in banking, technology and energy counters.
Earlier, European stocks declined over concerns of a second wave of the coronavirus infection.
“Market breadth was negative with losers more than gainers. Following the mixed performances in the US and Europe, the FBM KLCI could remain sideways below the resistance of 1,415 points,” JF Apex said.
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