KUALA LUMPUR: JF Apex Research expects Yinson
, Crescendo, Prestariang, Hiap Teck, Sapura Energy and Farlim to be among the stocks to watch on Friday after their corporate announcements.
It said Yinson’s 4QFY18 net profit grew 11.6% on-year, on higher contribution from its offshore and marine segment.
As for Crescendo, its 4QFY18 net profit fell 79.33% on-year due to softer property sales.
JF Apex Research said Prestariang was awarded a RM38.23mil contract by the Inland Revenue Board to provide Microsoft software licences, products and services under an extended master licensing agreement.
It also pointed out Hiap Teck's 2Q net profit jumped by almost eight times, thanks to lower finance costs and higher contribution from a joint venture, with the latter boosted by a substantial unrealised foreign exchange gain due to a stronger ringgit.
As for Sapura Energy, it has confirmed that a consortium, in which it holds a 30% stake via Sapura Exploration and Production Sdn Bhd, has outbid six other bidders for an offshore oil block in the Gulf of Mexico.
Farlim has proposed an issuance of one bonus share for every five existing shares to reward its existing shareholders.
Overnight on Wall Street, US markets advanced following sharp rebounds in technology counters led by Facebook, Apple, Alphabet, Microsoft and Netflix. Similarly, European stocks also advanced due to gains in automotive counters.
At Bursa Malaysia, the FBM KLCI shed 1.52 points to end Thursday at 1,856.35.
“Following the bullish performance in the US and Europe, the KLCI is expected to follow suit and rise today with resistance at 1,880,” it said.
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