KUALA LUMPUR: JF Apex Research expects Fraser & Neave, Hartalega
, O&C Resources, Tien Wah and Press Metal to be among some of the stocks which could see trading interest on Wednesday.
F&N's 3QFY16 net profit rose 12.8% on-year to RM93.55mil, mainly due to higher contribution from its Thailand operations.
Hartalega’s 1QFY17 net profit fell 10.4% on-year to RM56.2mil, due to more competitive sales pricing, increase in raw material, natural gas, maintenance and staff cost.
O&C Resources clinched a RM101.08mil contract to build affordable houses under the 1 Malaysia affordable housing scheme (PR1MA) in Alor Gajah, Melaka.
Tien Wah Press’s rights issue was oversubscribed by 47.75%.
Press Metal received total insurance claim of RM115mil, following the May 17, 2015 fire that damaged a few smelting pots and cause the group to temporarily cease operations.
KPJ Healthcare, the group is exploring a tie-up with two Japanese firms, Sojitz Corp and Capital Medica Co Ltd, to develop and operate an oncology centre at Rumah Sakit Medika Bumi Serpong Damai in Indonesia, at an estimated cost of US$12mil (RM48.4mil).
Overnight on Wall Street, US markets closed lower as the DJIA fell for the seventh day while as oil price closed below US$40 a barrel. European stocks ended lower, led by banks after poor results from their stress tests.
JF Apex Research said at Bursa Malaysia, the FBM KLCI lost five points to end at 1,660.23.
“Following the negative performance in the US and Europe, the FBM KLCI could decline further towards its support of 1,650,” it said.
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