KUALA LUMPUR: Pantech, Vizione
, Luxchem, Edaran and Brem are among the stocks which could generate some trading interest on Wednesday after their corporate announcements, says JF Apex Research.
It said Pantech's 2QFY18 net profit more than doubled to RM11.75mil from RM5.14mil a year ago on the back of higher revenue.
As for Vizione, its 1QFY18 net profit leapt to RM529,000 from RM121,000 from a year ago on higher revenue from its construction segment;
However, Luxchem's 3QFY17 net profit fell 10% on-year mainly due to higher expenses;
Brem’s 48.33%-owned Titi Kaya Sdn Bhd has obtained 48.37 million shares, or a 9.25% stake, in Titijaya Land Bhd from the sale of its 1.04 million shares in NPO Builders Sdn Bhd to the latter.
Pintaras Jaya bagged a RM20.4mil contract for the piling and construction of a proposed commercial block in Shah Alam, Selangor;
JF Apex Research also noted that Edaran has bagged a RM149.97mil contract from the Customs Department to upgrade the department’s information systems.
The contract started on Sept 1 and ends on Aug 31, 2019. Edaran expects this contract to have significant effect on the earnings per share for FY ending June 30, 2018. The EPS is estimated to increase by 16 sen.
Overnight on Wall Street, US markets rallied to record highs after positive showing in the results season and optimism in tax reform. Earlier, European stocks ended mixed amid corporate earnings and political uncertainty in Spain.
At Bursa Malaysia, the FBM KLCI lost 5.33 points to slide to 1,736.14 to extend its selldown.
“Following the bearish momentum, the KLCI could trend lower towards the support of 1,730,” said JF Apex Research.
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