KUALA LUMPUR: JF Apex Research expects Tenaga Nasional, Caring Pharmacy, Tasek Corporation, Pavilion REIT as among the stocks to watch on Friday after their corporate announcements.
It said Tenaga Nasional’s 3QFY17 net profit shrank 15% on-year, mainly due to higher deferred tax expense.
As for Caring Pharmacy, its 4QFY17 net profit grew by 59.2% on-year, mainly contributed by higher sales generated from existing outlets.
Tasek Corp’s 2QFY17 net profit plunged by 91.7% on-year, due mainly to lower net revenue for its cement segment;
Pavilion REIT, which inked an agreement to buy Pavilion Elite Mall for RM580mil, is planning a private placement to raise RM370.6 million to help fund the purchase;
JF Apex Research pointed out Ancom continued its financial turnaround with a 4QFY17 net profit of RM3.89mil, compared with a net loss of RM5.19mil a year earlier, due to higher revenue from its agricultural and industrial chemicals sector and media segment;
Zecon
has proposed a private placement that will raise about RM6.5mil as interim funding for the group's working capital pending the completion of a proposed rights issue of redeemable convertible unsecured loan stocks (RCULS).
As for Homeritz, its 3QFY17 net profit grew 20.7% on-year thanks to strengthening of USD.
Overnight, US markets ended mixed with the Dow hitting a record high lifted by technology counters.
Earlier, European stocks declined after being dragged by healthcare and pharmaceutical counters.
On the local market, the FBM KLCI gained 4.07 points to end at 1,770.07.
“Following the mixed performance in the US and Europe, the KLCI could remain sideways below the resistance of 1,770,” JF Apex Research said.
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