UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.
KUALA LUMPUR: CIMB Group
, IHH Healthcare, Perdana Petroleum and Bison Consolidated are among the stocks which could see trading interest on Tuesday after their corporate announcements, says JF Apex Research.
CIMB plans to kick off its 50:50 strategic partnership in the stockbroking business with China Galaxy International Financial Holdings Ltd (CGIF) officially by the second quarter of 2017.
IHH Healthcare's indirect unit M&P Investments Pte Ltd has received a business licence to set up a 60%-owned subsidiary in Nanjing, China.
As for Perdana Petroleum, it secured an umbrella contract from Petronas Carigali Sdn Bhd to provide spot charter marine vessel services.
JF Apex Research also highlighted Bison Conolidated, whose1QFY17 net profit climbed 10.2% on-year to RM6.36mil, on the back of higher revenue;
It also pointed out Scomi Group has inked a power purchase agreement (PPA) with Tenaga Nasional Bhd to build a 30MWac large-scale solar photovoltaic (PV) power plant in Bandar Sungai Petani, Kedah, on a build-own-operate basis.
Top Glove is teaming up with Japan’s Fimatec Ltd to produce a rubber reinforcing agent.
Prolexus’s 2QFY17 net profit rose 9% on-year to RM7.65mil, boosted by higher contribution from the group’s apparel division.
Overnight, US markets closed lower and the Dow recorded its 8th straight day of decline as investors reassessed the prospect of President Donald Trump's policies.
Earlier, European stocks ended lower after Trump's failure to reform Obama's healthcare policy.
At Bursa Malaysia, the FBM KLCI shed 0.80 of a point to close at 1,744.95 after surrendering intraday gains.
“Following the negative sentiment, the KLCI is expected to remain pressured below 1,750,” it said.
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