KUALA LUMPUR: Stocks to watch on Wednesday include Kelington Group Bhd, SC Estate Builder Bhd, AirAsia Group Bhd, Muar Ban Lee Group Bhd, Federal International Holdings Bhd and Solarvest Holdings Bhd, according to JF Apex Research.
Kelington Group Bhd has secured a contract worth RM40mil to build speciality gas systems distribution works for a new fab in Singapore.
SC Estate Builder Bhd has inked a MOU with Kedah royalty to acquire a piece of land measuring 104.62 hectares in Kedah to build a 100-megawatt solar power plant.
AirAsia Group Bhd said it has secured the approval of Danajamin Nasional Bhd for a club facility of up to RM500mil under the Danajamin Prihatin Guarantee Scheme.
Muar Ban Lee Group Bhd has proposed to undertake a private placement of up to 20% of its total number of issued shares to raise up to RM25.69mil to repay bank borrowings.
Federal International Holdings Bhd is selling a two-hectare leasehold land in Banting, Selangor to Filtermation (Mfg) Sdn Bhd for RM24.5mil.
Solarvest Holdings Bhd has bagged a RM46.75mil subcontract job from Tenaga Nasional Bhd (TNB).
Overnight, the US market rallied overnight following a rebound in technology counters and better-than-expected manufacturing data shown by the ISM's services purchasing managers' index.
Earlier, European markets advanced after gains by technology and banking stocks and a slew of economic data such as French industrial output, Italian GDP and final PMI across the region.
“Following the bullish performance in the US, the FBM KLCI could follow suit and climb towards the resistance of 1,550 points,” JF Apex said.