Trading ideas: Oriental Holdings, Neston, Atlan, Binasat Communications, Opcom, Gamuda, KPS and Litrak
KUALA LUMPUR: Stocks to watch for on Friday include Oriental Holdings, Neston, Atlan, Binasat Communications, Opcom, Gamuda, KPS and Litrak, said Apex Research.
Oriental Holdings Bhd (OHB) said it is planning to acquire the remaining shares in three plantation companies as well as three oil palm plantation estates for a total of RM1.2bil,
Nestcon Bhd’s subsidiary has bagged a RM129.6mi contract for site clearance, earthworks and ancillary works in Mukah, Sarawak.
Atlan Holdings Bhd returned to the black in the second quarter ended Aug 31, 2022 with a net profit of RM2.61 million.
Binasat Communications Bhd has proposed a bonus issue of free warrants on the basis of one warrant for every two shares.
Hextar Group chief executive officer Datuk Eddie Ong Choo Meng has raised his stake in fibre optic cable manufacturer Opcom Holdings Bhd to 20.69%, from 17.78% previously.
Amanat Lebuhraya Rakyat Bhd (ALR) has completed the acquisition of four highway concessionaires and paid Gamuda RM2.67bil, Kumpulan Perangsang Selangor Bhd RM13.4mil, and Lingkaran Trans Kota Holdings Bhd RM2.7bil.
Meanwhile, Apex said the FBM KLCI could rebound towards its resistance of 1,427 points following the bullish perforance on Walls Street overnight.
The US market rallied overnight in a sharp rebound despite higher-than-expected September inflation data.
Similarly, European stocks surged as investors shrugged off hotter-than-expected US CPI.