Trading ideas: Microlink, CB Industrial, Prestar, Asia Poly, Serba Dinamik


KUALA LUMPUR: JF Apex Research expects Microlink Solutions Bhd, CB Industrial Product Holding Bhd, Prestar Resources Bhd, Asia Poly Holdings Bhd and Serba Dinamik Holdings Bhd to be among the stocks to watch on Friday.

Microlink Solutions has proposed to undertake a bonus issue on the basis of three bonus shares for every one existing ordinary share on an entitlement date to be determined later.

CB Industrial Product’s first quarter net profit rose 51.2% year-on-year, mainly due to higher contribution from its palm oil equipment and engineering segment, and palm oil plantations segment, as well as improved share of results of associates and joint ventures.

Prestar Resources has proposed to undertake a bonus issue of up to 135.48 million shares on the basis of three bonus shares for five existing shares on an entitlement date to be determined later.

Asia Poly has disposed of 39 million ordinary shares and 36 million rights shares in Ta Win for RM8.33mil.

Serba Dinamik’s co-founder Awang Daud and EPF have disposed of shares in the group amid audit issues.

Meanwhile, the US market ended slightly higher overnight after inflation rose at its fastest since 2008 and jobless claims declined to its lowest during the Covid pandemic period.

European stocks were mixed after the European Central Bank kept interest rates and asset purchases unchanged.

“ Following the recent flattish trend, the FBM KLCI is expected to remain sideways above the support of 1,550 points,” JF Apex said.

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