Trading ideas: Aeon, Advancecon, Anzo, Overseas Enterprise, Serba Dinamik, JAG

KUALA LUMPUR: JF Apex Research expects Ho Wah Genting Bhd, Aeon Co (M) Bhd, Advancecon Holdings Bhd, Serba Dinamik Holdings Bhd, Oversea Enterprise Bhd, JAG Bhd and Key Alliance Group Bhd to be among the stocks to watch on Friday.

Ho Wah Genting via subsidiary HWGB Biotech Sdn Bhd, has partnered with US-based E-MO Biology Inc (EBI) to undertake phase four clinical trials of poliomyelitis virus vaccine for Covid-19.

The collaboration will see the group investing US$1mil into EBI, entitling it 40% of the profit from the commercialised vaccine.

AEON's RM142mil court case levied by Mega Continental Sdn Bhd has been set aside.

Advancecon inked a memorandum of understanding (MoU) with hypermarket operator Mydin Mohamed Holdings Bhd to develop a 2,344.32kWp rooftop solar power system to be installed at the latter's outlet in Bandar Seremban Utama, Negeri Sembilan.

Anzo managing director cum substantial shareholder Datuk Chai Woon Chet is offering a takeover offer for Oversea Enterprise for 30 sen per share.

Chai intends to maintain the restaurant operator's listing status on the ACE Market.

JAG inked a lease agreement with RH Silver Sdn Bhd to lease 45.32ha of land in Manjung in order to bid for the LSS @ MEnTARI programme (Large Scale Solar) for a proposed capacity of up to 29MWac.

Key Alliance plans to raise some RM5mil through a renounceable rights issue with warrants to fund the diversified firm's foray into the medical equipment business.

Serba Dinamik has bagged a US$350mil (RM1.47bil) contract to build a data centre in Abu Dhabi.

Hock Seng Lee's 2QFY20 net profit dropped by 76% year-on-year mainly due to the Movement Control Order.

Genting Bhd’s subsidiary Genting Singapore posted a net loss of S$163.3mil in 2QFY20, marking the ‘worst quarterly performance’ since opening.

Meanwhile, US markets advanced overnight with its bullish momentum ahead of a key employment report later today.

Earlier, European stocks declined as Bank of England kept interest rates unchanged.

“Following the mixed 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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