Trading ideas: Sunview, Solarvest, TH Plantations, Tex Cycle, Careplus, Taliworks, Apollo Food, Sapura Energy

KUALA LUMPUR: Sunview Group Bhd, Solarvest Holdings Bhd, TH Plantations Bhd, Tex Cycle Technology (M) Bhd, Careplus Group Bhd, Taliworks Corp Bhd, Apollo Food Holdings Bhd and Sapura Energy Bhd are among the stocks to watch on Friday.

Sunview’s wholly-owned subsidiary, Fabulous Sunview Sdn Bhd has inked a development and cooperation agreement with Uzbekistan’s Ministry of Energy to develop two large-scale solar photovoltaic (PV) plants and battery energy storage systems (BESS) in Uzbekistan.

Solarvest has proposed to acquire a four-level office space and a rooftop retail unit with a built-up area of 39,375 sq ft for RM48.73mil cash.

TH Plantations is teaming up with UEM Lestra Bhd, a wholly owned unit of UEM Group, to develop a 1.2 megawatt (MW) biogas power plant in Kluang, Johor.

Tex Cycle is acquiring Meridian World Sdn Bhd, which specialises in wastewater and air pollution control, for RM55mil in cash.

Careplus plans to raise up to RM10.57mil through a private placement to finance the construction of a manufacturing hub in Negeri Sembilan for its electric vehicle business.

Taliworks said its non-independent and non-executive director Lim Chin Sean retired after the group’s annual general meeting (AGM) on Thursday.

Apollo Food’s net profit fell 11.85% to RM6mil for its fourth quarter ended April 30, 2024 (4QFY2024) from RM6.8mil a year earlier, due to higher operating expenses.

Sapura Energy expects to reach an arrangement with its creditors by achieving majority support in a court-convened meeting.

Overnight, the Dow Jones Industrial Average fell 0.17% to 38,647.1, the S&P 500 gained 0.23% to 5,433.74 and the Nasdaq Composite rose 0.34% to 17,667.56.

Apex Securities continues to advocate a cautious stance as majority of the stocks have made a decent run and could be poised for a consolidation.

Economic-wise, the research house said investors will be keeping a close tab on the Bank of Japan’s interest rate decision and preliminary data on the US Michigan Consumer Sentiment.

“We are sanguine over the healthcare sector (particularly gloves) amid the improving prospects. Following the sharp run in the energy sector, we reckon some profit taking may take shape today,” Apex said.

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