Trading ideas: Fintec, Pasukhas, See Hup, Chin Hin, Pimpinan Ehsan, Power Root

KUALA LUMPUR: Stocks to watch on Friday include Fintec Global Bhd, Pasukhas Group Bhd, See Hup Consolidated Bhd, Chin Hin Group Property Bhd, Pimpinan Ehsan Bhd and Power Root Bhd, according to JF Apex Research.

Fintec Global's rubber glove unit has tasked Pasukhas to build a rubber glove factory in Perak for RM58.87mil.

See Hup Consolidated has secured an RM99.01mil contract from China Communications Construction (ECRL) Sdn Bhd to construct part of the subgrade works for the East Coast Rail Link.

Chin Hin Group Property is buying five parcels of land in Hulu Selangor for RM54.52mil to expand its property development activity.

Pimpinan Ehsan is proposing to undertake a capital repayment exercise that involves a pro-rata cash distribution of approximately RM66.7mil, on the basis of 96 sen per share.

Power Root said two of its subsidiaries have voluntarily shut operations of its instant powder production facility in Johor for a week in order to carry out sanitisation after an employee tested positive for Covid-19 on Jan 24.

Tasco’s 3QFY21 net profit more than doubled year-on-year.

Pavilion REIT saw its 4QFY20 net property income (NPI) increase by 12.5% qoq on higher revenue and lower property expenses.

Gadang reported a net profit of RM3.2mil for its 2QFY21 result, which tumbled 70.4% year-on-year but rebounded strongly by 540.0% quarter-on-quarter.

Lotte Chemical Titan’s fourth-quarter net profit nearly doubled from the third quarter on improved margin spreads, on the back of higher average product selling prices.

KLCC Stapled Group posted its first-ever quarterly net loss for its 4QFY20 result after impairment and fair value changes on investment properties.

Digi.Com reported a 4QFY20 net profit of RM280.18mil, 18.3% drop from a year ago as the group's service revenue continued to be impacted by weak consumer and business spend amid the Conditional MCO.

Meanwhile, US markets rallied overnight following a sharp rebound amid volatility and a speculative buying frenzy in heavily-shorted stocks.

Earlier, European stocks climbed following corporate results announcements.

“Following the positive performances in the US and Europe, the FBM KLCI could extend its rebound with support at 1,570 points,” JF Apex said.

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