JF Apex Research: "Over a medium to long term outlook, we are cautious on the FBM KLCI performance as it still treads below the 100- and 200-day moving averages at 1,650 and 1,700 points respectively."
KUALA LUMPUR: JF Apex Research expects Ajiya
, Amcorp Properties and Gas Malaysia to be among the stocks to watch on Monday after last week’s corporate news.
It said Ajiya was teaming up with Syarikat Perumahan Negara Bhd (SPNB) to implement Ajiya’s green integrated building solutions for housing projects under the national housing corporation.
As for Amcorp Properties, the company and its partner Grosvenor Europe Investments Ltd have acquired two new properties in the Chamberi district of Madrid, Spain;
Gas Malaysia has revised up the natural gas tariff for Peninsular Malaysia’s non-power sector to an average base tariff of RM28.05 per one million British thermal units (MMBtu).
However, a government subsidy will lead to lower effective tariff rates for all tariff categories for the period from July 1 to Dec 31, 2017, compared with the existing rates.
Public Bank will redeem its RM3bil bonds, with a coupon rate of 4.28% a year, which is due in 2022.
Fraser & Neave Holdings Bhd is expected to boost its annual output by 10% or 6.5 million cases with the installation of a RM90.5mil bottling line at its Shah Alam factory. One case is equivalent to 24 polyethylene terephthalate, or PET, bottles.
Last Friday, US markets ended higher with the S&P hitting a record high as the corporate earnings season begin.
At Burs Malaysia, the FBM KLCI extended its sideways trend after adding 1.22 points to 1,755.
“Following the mixed performance in the US and Europe, the KLCI could remain sideways with support at 1,750,” it said.
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