KUALA LUMPUR: JF Apex Research expects Bina Puri, DiGi, Ajiya
and Managepay to be among the stocks to watch on Tuesday after the recent corporate news.
It said Bina Puri, the group has bagged RM230mil contract from PR1MA for the construction of affordable properties in Plentong, Johor.
DiGi’s 3QFY15 net profit fell 18.55% on-year to RM396.62mil due to the higher progressive depreciation from network expansion and accelerated depreciation of RM26mil relating to migration of data centre.
Ajiya has proposed to place out 6.92 million shares to raise RM25.96mil, mainly for working capital.
JF Apex Research pointed out ManagePay Systems was working with Adv Fusionex Sdn Bhd (Fusionex) to develop services related to big data analytics and e-payment. The partnership is in line with its business strategy to develop a new scalable business earnings stream and also allows the group to jump start into a broader eco system in cashless transactions, under the e-payment initiatives set out by Bank Negara Malaysia.
Overnight on Wall Street, key indices ended flat amid corporate earnings announcements and disappointing new home sales.
European markets were mixed ahead of central bank meetings in the US and Japan. Investors will be looking at potential stimulus and the outcome of those meetings as well as US durable goods orders and consumer confidence data later today.
However, at Bursa Malaysia, the FBM KLCI was among the worst performers among the regional markets, ending the day down 4.14 points to 1,706.79.
“Following the lacklustre performance in the US, we expect the KLCI to remain range bound with support at 1,685,” it said.
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