Trading ideas: Sapura Energy, Kelington, CTOS, Poh Kong, Ta Win

KUALA LUMPUR: Stocks to watch on Friday include Sapura Energy Bhd, Kelington Group Bhd, CTOS Digital Bhd, Poh Kong Holdings Bhd, Ta Win Holdings Bhd and Eco World Development Group Bhd, according to JF Apex Research.

In a report, JF Apex noted that Sapura Energy has secured six contract wins in the Asia-Pacific and Atlantic regions, with a combined value of RM2.7bil.

Kelington has won a contract worth RM114mil to build a semiconductor manufacturing building in Johor.

CTOS will be making a general offer to all remaining shareholders of RAM Holdings Bhd, in which it owns a 19.23% stake currently.

Poh Kong's 3QFY22 net profit rose 14.85% YoY to RM27.59mil.

Ta Win is disposing of its 32.5% stake or 3.9 million shares in pharmaceutical products manufacturer and distributor Royce Pharma Manufacturing Sdn Bhd for RM20.85mil.

Eco World Development posted a 7.92% YoY gain in its net profit for 2QFY22 to RM45.67mil.

Meanwhile, the US market plunged overnight with the Dow hitting its lowest since January 2021 following concerns of an economic slowdown.

Similarly, European stocks tumbled after interest rate hikes by central banks in the US, UK and Switzerland.

“Following the bearish performance in Wall Street, the FBM KLCI could retrace towards the support of 1,450 points,” JF Apex said.

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Sapura Energy , Kelington , CTOS , Poh Kong , Ta Win


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