KUALA LUMPUR: Stocks to watch on Monday include Sapura Energy Bhd, Mesiniaga Bhd, Supercomnet Technologies Bhd, Bina Puri Holdings Bhd and Ho Hup Construction Company Bhd, according to JF Apex Research.
Sapura Energy's associate company SapuraOMV Upstream Sdn Bhd has made a discovery with a positive result in its Toutouwai-1 exploration well located in New Zealand.
Mesiniaga bagged a RM10.6mil maintenance contract from the Home Ministry to be completed by June 30, 2023.
Supercomnet said its latest catheter for cardiovascular use has been approved and is now listed on the US Food and Drug Administration's (FDA) website.
The FDA approval means that the company can now start manufacturing the catheter for its Denmark-based client.
Bina Puri plans to place out new shares — up to 10% of its enlarged issued share capital — to independent third-party investors to be identified later, to raise up to RM9.08mil, mainly to fund its existing property development and construction projects.
Ho Hup Construction is planning to raise up to RM82.47mil via a renounceable rights issue of redeemable preference shares (RPS) with free detachable warrants to be used for working capital and to repay borrowings.
The rights RPS will have a tenure of five years, with a dividend rate of 5% per annum.
US stocks rose last Friday as news about a potential coronavirus treatment increased hope for an economic recovery following the outbreak. Tech stocks also continued their winning week.
Likewise, European markets close higher as Italian and French industrial data surprises.
JF Apex said the FBM KLCI could extend its positive momentum with its resistance level of 1,615 points, following the inspiring showings in the US and Europe.
“Last week’s surge reclaimed the 200-day moving average and could retest the resistance of 1,590 points. Failure to breach the threshold could result in a pullback towards the immediate support of 1,550 points,” JF Apex said.
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