KUALA LUMPUR: Apex Securities expects Southern Cable Group Bhd, IHH Healthcare Bhd, Advancecon Holdings Bhd, Pentamaster Corporation Bhd, Sentral REIT and Prolexus Bhd to be among the stocks to watch on Friday.
Southern Cable has received an extension of contract from Tenaga Nasional Bhd (TNB) worth RM332.1mil to supply underground power cables.
IHH Healthcare is acquiring Bedrock Healthcare Sdn Bhd (BHSB) for RM2.45mil cash.
Advancecon’s associate secured a RM45.48mil award as the contractor for the Miri combined cycle gas turbine power plant project
Pentamaster’s 2Q23 net profit rose 23.2% to RM23.65mil while Sentral REIT's 2Q23 net property income grew 4.55% to RM29.21mil from RM27.94mil.
Prolexus intends to raise up to RM102.58mil through ICULS.
Overnight, the U.S. market was slightly higher after July consumer price index came in cooler than expected. Earlier, European markets were also higher after a fresh round of corporate earnings and US inflation was slower than anticipated. Investors will be waiting for the US’ producer price index data later today.
The Dow Jones Industrial Average rose 52.79 points, or 0.15%, to finish at 35,176.15. The S&P 500 inched up 0.03% to 4,468.83 and the Nasdaq Composite rose 0.12% to close at 13,737.99.
“Following yesterday’s pullback, the FBM KLCI could hover below the resistance of 1,465 points amid uncertainties ahead of the state elections tomorrow,” Apex said.