KUALA LUMPUR: Stocks in focus on Monay include Puncak Niaga, BHIC, Ocean Vantage, Adventa
, Hong Seng and Iris Corp, said Apex Research.
Puncak Niaga Holdings Bhd has won a RM47.21 million sub-contract to build a water treatment plant and upgrade a water distribution system in Gua Musang, Kelantan.
Boustead Heavy Industries Corp Bhd (BHIC)’s 51%-owned joint venture contract to provide helicopter maintenance and supply services to the Royal Malaysian Air Force has been extended by one year with a value of RM115.3 million.
Ocean Vantage Holdings Bhd’s (OVH) unit has bagged a contract from Sarawak Shell Bhd (SSB) and Sabah Shell Petroleum Co Ltd to provide a jack-up drilling unit for the 2024-2026 campaign.
Adventa Bhd plans to raise up to RM45.84 million through a rights issue for business expansion, working capital and to repay bank borrowings.
Hong Seng Consolidated Bhd has emerged as a substantial shareholder of Classita Holdings Bhd after acquiring 402.06 million shares or a 32.61% stake via direct business transactions.
Iris Corporation Bhd has proposed a capital reduction to set off its accumulated losses.
On Friday, the US market ended mixed with profit taking after June inflation was lower than expected, easing concerns of further aggressive interest rate hikes.
Earlier, European markets ended lower following renewed concerns of inflation after lower UK GDP.
On the local market, the FBM KLCI jumped 15.86 points or 1.14% to 1412.09 points.
"Following the positive momentum, the FBM KLCI could extend its rebound towards the resistance of 1,437 points," said Apex.
