Trading ideas: Kawan Food, Malaysia Airports Holdings, Tomei Consolidated, Eastern & Oriental, Tropicana Corp, Taliworks Corp and KPower

KUALA LUMPUR: Stocks in focus on Friday could include Kawan Food, Malaysia Airports Holdings, Tomei Consolidated, Eastern & Oriental, Tropicana Corp, Taliworks Corp and KPower, said JF Apex Research.

Kawan Food Bhd is acquiring five parcels of land measuring 7.08 acres in Shah Alam, Selangor for a total of RM50.46mil.

Malaysia Airports Holdings Bhd (MAHB) said international passenger movements at its nationwide airport network recorded a 52% increase to 420,000 in March from February, driven by the implementation of various Vaccinated Travel Lane (VTL) programmes.

Tomei Consolidated Bhd‘s wholly-owned precious metals arm YX Precious Metals Bhd (YXPM) has signed an underwriting agreement with Public Investment Bank Bhd in conjunction with its upcoming initial public offering (IPO) on the ACE Market by end-June.

Holders of tranche one of Eastern & Oriental Bhd‘s (E&O) subsidiary Tanjung Pinang Development Sdn Bhd’s RM1.5bil Islamic bonds or sukuk have rejected a special resolution proposed by Tanjung Pinang Development.

Tropicana Corp Bhd’s CEO Lee Han Ming will step down effective May 1.

Taliworks Corp Bhd has purchased a majority economic interest in four solar projects from TerraForm Global Operating LP (TerraForm Global).

KPower Bhd has proposed to change its name to Reneuco Bhd.

Meanwhile, JF Apex said the FBMKLCI could extend its rebound towards the resistance of 1,620 points following recent gains.

The US markets plunged overnight following concerns of stagflation after the Federal Reserve Chairperson noted the possibility of higher-than-expected rate hike next month despite jobless claims coming in better than estimates.

Earlier, European stocks rose amid corporate earnings.

See also  20 Greatest Business Ideas To Make Cash In 2020 (Low Investment Concepts)