KUALA LUMPUR: Stocks in focus on Friday include Sapura Energy
, Kerjaya Prospek, Sunway, Kim Loong, Glomac, Gamuda, Hiap Teck, Pensonic and Jiankun, said Apex Research.
Sapura Energy Bhd bagged a RM1.4 billion contract from Azule Energy Angola BV for a gas complex in Angola. Sapura Energy also posted a a net profit of RM42.81 million in 2QFY24.
Kerjaya Prospek secured RM203m concrete structure job for Texas Instruments' Melaka factory.
Sunway Bhd’s 70%-owned unit has signed a joint development agreement with Penang Development Corp (PDC) to develop a 559-acre prime industrial land in Batu Kawan, Penang, in exchange for a land entitlement of RM646.02 million.
Kim Loong Resources Bhd’s 2QFY24 net profit fell 12.72% to RM43.35 million.
Glomac Bhd's 1QFY24 net profit dropped 21.5% to RM4.06 million.
Gamuda Bhd’s 4QFY23 net profit declined marginally by 1.37% to RM251.75 million.
Hiap Teck Ventures Bhd’s 4QFY23 net profit climbed 74.06% to RM42.60 million.
Pensonic MD ceases to be substantial shareholder after 3.18% stake sale.
Jiankun proposes private placement to raise RM19m with one-for-two bonus issue of free warrants.
Meanwhile, the US stock market rose overnight to rebound from recent losses.
Similarly, European stocks snapped a 5-day losing streak after Germany’s inflation came in below expectations.
Investors will be monitoring today’s US personal consumption expenditures price index to gauge inflation.
On the local market, the FBM KLCI dropped 5.44 points or 0.38% to 1,440.11 points.
"The FBM KLCI may consolidate and trend sideways above the support of 1,433 points," said Apex.
