UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.
KUALA LUMPUR: Serba Dinamik
, LBS Bina, WCT, OSK and Pos Malaysia are among the stocks to watch on Thursday after their corporate news, says JFApex Research.
Serba Dinamik bagged five RM468.95mil of contracts which will enhance its position among the top providers of maintenance, repair and overhaul services domestically and internationally.
As for LBS Bina, the property company declared a special dividend of two sen per share for its FY16. It will also pay a special dividend of six sen per share in FY17, once it has received the fourth tranche of the promissory notes payment of HK$200mil.
JF Apex Research pointed out WCT has bagged an RM185.9mil contract from Prasarana Malaysia Bhd to build part of the Light Rail Transit Line 3 from Bandar Utama to Johan Setia.
OSK Holdings has roped in the Employees Provident Fund (EPF) as its financial partner to develop an upcoming five-acre mixed-use development in Melbourne, Australia, with an expected gross development value of A$2.8bil.
Pos Malaysia said that its revenue contribution from Pos Laju is expected to grow about 20%, which will be driven by e-commerce. The group inked an MoU with Tiger Global Logistics (M) Sdn Bhd which would enable Pos Malaysia to offer cross-border e-fulfillment solutions in the Asia-Pacific region.
Overnight on Wall Street, US markets closed lower after minutes of the Federal Reserve meeting showed the central bank's intention of unwinding its US$4.5 trillion balance sheet later this year.
European stocks were mixed as oil and mining counters gained while automotive stocks declined following lower US auto sales.
At Bursa Malaysia, the FBM KLCI lost 2.52 points to end at 1,744.67.
JF Apex Research said following the mixed performance in the US and Europe, the KLCI is expected to remain lacklustre below the resistance of 1,770.
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