Trading ideas: Sapura Energy, Dayang, Bina Puri, Borneo Oil, Tropicana, Revenue and PBA Holdings

KUALA LUMPUR: Stocks in focus on Friday include Sapura Energy, Dayang, Bina Puri, Borneo Oil, Tropicana, Revenue and PBA Holdings, said Apex Research.

Sapura Energy Bhd reported that it has secured 10 contracts across the Asia Pacific and Atlantic regions since last December, with a combined value of RM1.4 billion.

Dayang Enterprise Holdings Bhd was awarded a contract for the provision of integrated hook-up and commissioning (iHUC) services from a unit of Petronas.

Bina Puri Holdings Bhd wholly-owned subsidiary Bina Puri Sdn Bhd had applied for a restraining order due to lacklustre construction activities and the sluggish property market climate.

Victoria Capital Sdn Bhd has ceased to be a substantial shareholder of Borneo Oil Bhd after disposing of 473.19 million shares or a 4.37% stake.

Minority shareholders of Tropicana Corp Bhd are advised to vote in favour of the proposed capitalisation involving a share settlement of RM180 million it owes to founder and group executive vice-chairman Tan Sri Tan Chee Sing.

Former director Brian Ng Shih Chiow of Revenue Group Bhd has been charged in the Sessions Court with 12 counts of forgery of invoices and purchase orders.

The government has renewed PBA Holdings Bhd’s water supply licence in Penang for another three years.

On the local market, the FBM KLCI dropped 4.01 points or 0.33% to 1374.64 points, its lowest since October 2022.

"Following the recent bearish performance, the FBM KLCI could retest its critical support of 1372 points with the next support at 1356 points," said Apex.

Overnight, the US market surged with the S&P hitting its highest in 2023 as stocks resumed its recent rally.

Meanwhile, European markets ended mixed as the euro zone entered a technical recession.

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