Trading ideas: Ranhill Utilities, Opcom, Willowglen, Nexgram, Prestariang

KUALA LUMPUR: Stocks to watch on Friday include Ranhill Utilities Bhd, Opcom Holdings Bhd, Willowglen MSC Bhd, Nexgram Holdings Bhd, Prestariang Bhd and Mtouche Technology Bhd, according to JF Apex Research.

Ranhill Utilities said it is forming a consortium to partake in the bidding of a development project relating to the drinking water allocation system of the Jatiluhur dam in Jakarta.

Opcom has accepted a contract worth RM21.37mil from Telekom Malaysia Bhd to supply optical fibre cables.

Willowglen Msc has been awarded a contract worth RM8.5mil from Tenaga Nasional Bhd for the supply, installation and testing of field terminal units for its distribution automation project.

Nexgram has partnered with Indonesian firm PT Mitra Abadi Propertindo Utama (MAPU) to distribute personal protection equipment (PPE) in Indonesia.

Prestariang said it is planning to raise a further RM35.37mil via a renounceable rights issue of ordinary shares with free detachable warrants.

MTouche Technology has proposed a private placement to raise up to RM18.06mil for the development of a new over the top (OTT) media platform.

Vivocom is planning to consolidate every 10 shares into one new share.

ViTrox posted a 6% year-on-year decline in its 2QFY20 net profit, mainly due to unfavourable sales mix.

BAT reported a 28.39% year-on-year fall in 2QFY20 net profit due to lower sales.

Meanwhile, US markets declined overnight following disappointing unemployment data and corporate earnings.

Earlier, European stocks ended mixed amid rising tension between the US and China as well as quarterly results announcements.

“Following the lacklustre performances in the US and Europe, the FBM KLCI could remain sideways below the resistance of 1,615 points,” JF Apex said.

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