KUALA LUMPUR: Stocks in focus include IJM, Rapid Synergy, Fitters Diversified
and DGB Asia, said Apex Research.
IJM Corp Bhd, has been awarded a RM653.6 million contract for the construction of Phase 1 of the Shah Alam International Logistics Hub, Sapura Energy Bhd’s 1QFY24 net profit surged 58.9% to RM146 million.
Rapid Synergy Bhd is selling a property in Ipoh for RM25 million to fund its working capital and repay bank borrowings.
Fitters Diversified Bhd bagged a fire protection services construction contract worth RM21.5 million in Kapar, Klang.
DGB Asia Bhd plans to raise up to RM5.94 million through a private placement, after undertaking a consolidation of every 10 shares into one share.
The US market declined overnight with the Dow extended its losing streak to 6 days, the longest since September 2022, following fears of recession after the Federal Reserve said it will continue to hike rates.
Earlier, European markets continued to drop after a German business sentiment survey came in below expectations.
On the local market, the FBM KLCI was flat after shedding 1.01 points or 0.07% to 1389.88 points.
"Following last week’s gains, the FBM KLCI could consolidate below its resistance of 1,407 points," said Apex.
