KUALA LUMPUR: Stocks that may see investor interest on Friday on the back of corporate news include Euro Holdings, Apollo Food, NPC, Advancecon, LKL International, MQ Technology and Genetec Technology, says JF Apex Research in its daily highlights report.
Euro Holdings has terminated its proposed four-for-one bonus issue, citing “the recent market volatility in the share price performance”.
Apollo Food has announced a temporary manufacturing stoppage for the second time this month to prevent the spread of Covid-19.
The external auditor of NPC Resources has issued a qualified opinion with material uncertainty on NPC’s ability to continue as a going concern.
Advancecon is diversifying into the quarry business by acquiring 51% of Fook Hua Holdings Sdn Bhd’s 100% stake in quarry operator and rock crusher Spring Energy Resources Bhd for RM30.4mil.
It will pay RM15.22mil in cash and the balance via the issuance of 33 million new shares in Advancecon at 46 sen apiece.
LKL International said it has decided to conduct its private placement of 30% of its issued share capital before its one-for-one bonus issue.
The group wanted to raise RM56.81mil, of which RM54.21mil will be used to set up a new business in trading of rubber gloves and personal protective equipment.
MQ Technology has proposed a private placement of up to 182.81 million new shares, representing not more than 20% of its share capital, to raise up to RM10.97mil.
The proceeds from the placement will be used to renovate its factory, repay unsecured loan, and for working capital.
Genetec Technology has secured new orders worth approximately RM47.9mil.
The group said that the new secured orders are from the existing customers who are global players in the segments of electric vehicle and battery (RM42.5mil), and hard disk drive, electronics and semiconductor (RM5.4mil).