KUALA LUMPUR: Stocks to watch on Friday include Malaysian Pacific Industries Bhd (MPI), Malaysian Resources Corp Bhd, SKP Resources Bhd, Genting Bhd, Kerjaya Prospek Group Bhd and S P Setia Bhd, according to JF Apex Research.
The research house said MPI, MRCB, SKP, Solarvest, Unisem, Sime Darby, MSM, Matrix Concepts, CCK, HeveaBoard, LBS, Tambun Indah, TSH, DNex, IJM Corp, IJM Plantations achieved better year-on-year quarterly results.
On the other hand, Genting, Genting Malaysia, Kerjaya Prospek, SP Setia, Sime Darby Property, Mah Sing, Maybank, Public Bank, AME, Axiata, UMW, MBSB recorded weaker year-on-year net profits.
MPI posted a net profit of RM67.04mil for the second quarter ended Dec 31, 2020, up 49% from RM45.1mil a year earlier.
Genting returned to the black in the fourth quarter ended Dec 31, 2020to RM24.98mil from a net loss of RM130.75mil in 3QFY20 as the group’s resort operations resumed.
Kerjaya’s net profit for the fourth quarter ended Dec 31, 2020 dropped 23.28% to RM27.82mil, from RM36.27mil a year earlier, on lower revenue recorded.
VS Industry plans to undertake a bonus issue with free warrants, on the basis of one bonus share for every one VS share (1-for-1) held at an entitlement date to be fixed, followed by one free warrant for every five VS shares (1-for-5) held.
Meanwhile, US markets plunged overnight following rising bond yields with the 10-year Treasury yield hovering near its one-year high.
Similarly, European stocks declined sharply amid lingering concerns over US bond yields.
“Following the selldown in Wall Street, the FBM KLCI could pull back from yesterday's rebound with support at 1,560 points,” JF Apex said.