KUALA LUMPUR: Here are the stocks to watch on Friday that are expected to draw attention from investors – Stella Holdings Bhd, Kinergy Advancement Bhd, Dayang Enterprise Holdings Bhd, Solarvest Holdings Bhd, and Bintai Kinden Corp Bhd, according to Apex Securities.
Stella Holdings has secured a significant RM91.36 million sub-contract for a medium-cost apartment project in Seberang Perai Tengah, Penang. This contract win is expected to boost the company’s revenue and market position.
Kinergy Advancement’s unit has signed a heads of agreement with a China-based entity to establish its inaugural biomass plant in Kulim, Kedah. This venture into green energy is a strategic move to tap into the growing renewable energy sector.
Dayang Enterprise’s contract to provide upstream oil and gas support services to Roc Oil (Sarawak) Sdn Bhd has now been extended by almost 1½ years. This contract extension reflects the client’s satisfaction with Dayang’s services and will contribute to the company’s future earnings.
Solarvest Holdings’ unit has entered into a collaboration agreement with PKNS to install residential solar solutions. This partnership aims to promote renewable energy adoption and offer cost-saving solutions to homeowners.
Bintai Kinden Corp Bhd has announced that two contracts awarded to its subsidiary have been terminated by TNB. The termination is due to the subsidiary’s inability to fulfill its contractual obligations. This will have a negative impact on the company’s financial performance.
On the global front, the US market experienced a rise following the release of lower-than-expected June PPI data. This eased concerns of aggressive interest rate hikes and boosted investor sentiment. European markets also saw gains as US inflation came in cooler than estimated and the UK’s May GDP declined.
The Dow Jones Industrial Average closed at 34,395.14, adding 47.71 points or 0.14%. The S&P 500 climbed 0.85% to reach 4,510.04, while the Nasdaq Composite advanced 1.58% to end at 14,138.57.
Looking ahead, Apex Securities suggests that the FBM KLCI could consolidate below the resistance of 1,437 points after the recent rebound, indicating a potential breather for the index.
Credit: The Star : Business Feed
