KUALA LUMPUR: JF Apex Research expects Malaysian Resources Corporation Bhd
(MRCB), Kuala Lumpur Kepong (KLK), Tenaga Nasional, Pestech International, SamChem, Eversendai and AWC to be among the stocks to watch on Wednesday.
It said MRCB secured a RM369mil for the construction of the Damansara-Shah Alam Elevated Highway (DASH).
As for KLK, its 3QFY17 net profit more than halved from RM263.71mil last year to RM121.83mil, due to losses in its manufacturing segment.
Meanwhile, Tenaga Nasional has secured RM339mil financing for its first Large Scale Solar (LSS) project in Malaysia.
Pestech International won a contract from Tenaga Nasional Bhd to expand its substation in Olak Lempit, Selangor, for RM79.5mil.
SamChem saw its 2QFY17 net profit fall by 26.3% on-year on lower gross margin and higher expenses.
Eversendai has proposed to place out new shares to Macquarie Bank Ltd to raise up to RM75.84mil, mainly to repay short term borrowings.
AWC has won a RM32.86mil contract from the Public Works Department to maintain the Rural and Regional Development Ministry’s buildings in Putrajaya.
Overnight on Wall Street, US markets ended flat overnight as decline in retail and telco counters offset gains in banking stocks. Earlier, European stocks climbed slightly higher following easing concerns on North Korea.
At Bursa Malaysia, the FBM KLCI added 1.31 points to end at 1,772.39 points.
“Following the mixed performance in the US and Europe, the KLCI could trend sideways and hover below the resistance of 1,800,” it said.
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