New high for Dagang NeXchange Bhd
KUALA LUMPUR: JF Apex Research expects Hai-O, Kim Loong Resources, Subur Tiasa, Bintai Kinden
, Paramount to be among the stocks that could see trading interest on Thursday after their corporate news.
It said Hai-O’s 3QFY17 net profit rose 57% on-year to RM15.36mil thanks to higher turnover recorded at its multi-level marketing and retail divisions.
Kim Loong posted a 36% on-year increase in its 4QFY17 net profit, on improved contributions from its plantation operations due to better fresh fruit bunch (FFB) prices despite marginally lower production.
Subur Tiasa's net loss widened to RM8.84mil in its 2QFY17 from RM1.81mil a year ago, on lower contribution from its oil palm segment.
Bintai Kinden won a S$14.2mil (RM44.94mil) job to maintain the mechanical and electrical works at the existing Raffles Hotel and Shopping Arcade in Singapore.
As for Paramount, its unit KDU University College (PG) Sdn Bhd will raise up to RM200mil under a 15-year Islamic medium term notes programme (Sukuk Ijarah) to build a university campus in Penang.
On Wall Street, the benchmark S&P 500 eked out a gain on Wednesday as strength in the energy and consumer sectors offset declines in financial shares and investors began looking ahead to first-quarter earnings season, Reuters reported.
The Dow Jones Industrial Average ended slightly lower, falling for the ninth session out of the past 10, while the Nasdaq rose for a fourth straight day.
At Bursa, the FBM KLCI lost 4.01 points to 1,750.41 on selling by local institutions though foreign funds were net buyers.
“Following the positive performance in the US and Europe, the KLCI is expected to remain in its uptrend channel towards 1,770,” it said.
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