KUALA LUMPUR: JF Apex Research expects Tenaga Nasional, Unisem, Gadang and Sasbadi to be among the stocks to watch on Friday.
Tenaga’s fourth quarter net profit fell 39.5% on-year caused by ringgit depreciation, resulting in foreign exchange (forex) translation loss. Excluding forex translation losses, Tenaga’s core net profit in 4Q15 rose 29% on-year due mainly to lower tax expense.
JF Apex Research said Unisem’s net profit rose 48% on-year to RM40.2mil mainly due to higher demand for its products and the strengthening of the US dollar against the ringgit and yuan exchange rates.
Gadang’s 1QFY16 net profit surged 118.66% on-year to RM20.86mil on higher contributions from property activities.
As for Sasbadi, the group posted a net profit of RM2.23mil for 4QFY15, up 83% on-year, due to the acquisition of a 70% stake in Sanjung Unggul Sdn Bhd.
Homeritz
recorded a 27.9% on-year jump in its 4QFY15 net profit thanks to higher sales and the strengthening of the US dollar.
US markets ended slightly lower overnight after US Federal Reserve's statement that hinted of a potential interest rate hike in December. European equities were mixed amid corporate earnings.
At Bursa Malaysia, the FBM KLCI fell 19.53 points to 1,666.98 due to foreign selling.
“Following the lacklustre performance in the US, we expect the KLCI to remain pressured with immediate support at 1,640,” it said.
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