KUALA LUMPUR: ATA IMS Bhd, MK Ge-Shen Corp Bhd
, Land Holdings Bhd, Seal Inc Bhd, TSH Resources Bhd and Ranhill Utilities Bhd are among the stocks to watch on Friday.
ATA IMS has teamed up with Shanghai-listed Jinhua Chunguang Technology Co Ltd (Chunguang) to venture into the household and electrical appliances sector.
Ge-Shen net profit for the second quarter doubled to RM4.47mil from RM2.19mil a year earlier, on increased sales revenue from a higher utilisation rate across its factories in Penang, and Hanoi, Vietnam.
MK Land has reached a settlement with the tax authority that would cut the additional bills and penalty imposed on its unit by nearly 85%.
Seal is raising its shareholding in loss-making MSR Green Energy Sdn Bhd to 30% by acquiring an additional 10% for RM21mil.
TSH Resources’ land sales, which would have fetched roughly 2.43 trillion Indonesian rupiah (RM731.09mil), in North Kalimantan have been downsized to RM447.17mil.
Ranhill Utilities announced the appointment of five new directors, four of whom are linked to YTL Power International Bhd following the takeover of Ranhill by YTL Power and its 70%-owned unit, SIPP Power Sdn Bhd, on July 9, when they completed their mandatory general offer (MGO) for the Johor-based utility company, securing a controlling stake of 53.19%.
Overnight, the Dow Jones Industrial Average rose 683.04 points, or 1.76%, to 39,446.49, the S&P 500 gained 119.81 points, or 2.30%, to 5,319.31 and the Nasdaq Composite added 464.22 points, or 2.87%, to 16,660.02.
Apex Securities anticipates that this positive sentiment will spill over into the local bourse today, driven by the expected return of foreign funds.
Additionally, it said that the announcement of direct domestic investments by the six government-led GLICs is expected to further boost market sentiment.
However, the upside could be limited as investors might stay on the sidelines, given that today is the last trading day of the week, with many awaiting the upcoming corporate results season and the release of more US economic data next week.
“We expect to improve sector performance in construction, utilities, and technology today, as these sectors remain the preferred choice of foreign investors,” Apex said.
