KUALA LUMPUR: JF Apex Research expects Daibochi, JAKS Resources, Dialog Group, HeveaBoard and Dutch Lady to be among the stocks to watch on Wednesday.
It said Daibochi reported a 34.7% on-year increase in profit for its 3QFY15 due to favourable product mix, higher turnover, forex gain as well as improved margin on higher export sales due to the weaker ringgit against other foreign currencies.
JAKS Resources’s earnings rose 113% on-year in the 3QFY15 due to its construction orderbook and billings from property development.
Dialog's first quarter net profit climbed 20.4% on-year, driven by its international business which offsets lower earnings from its Malaysian operations.
HeveaBoard's 3QFY15 net profit surged more than two-fold to RM18.12mil thanks to better performance in the particleboard sector, resulting from higher sale and sale of higher value and value added products.
Dutch Lady's 3QFY15 net profit soared 74.8% on-year to RM49.95mil due to favourable raw material purchases and positive foreign currency hedging effects. It declared a special interim dividend of 60 sen per share, along with a standard interim dividend of 50 sen per share.
On the markets, US key indices were mixed due to lower oil prices on oversupply and geopolitical tension. Earlier, European equities soared following higher auto sales, Greece agreeing with its lenders into financial reforms and deflation in UK.
Ar Bursa Malaysia, the FBM KLCI closed up 5.53 points at 1,661.53 after coming off an intra-day high of 1,677.37.
“Following the flat performance in Wall Street, we expect the KLCI to be neutral today with support at 1,645,” it said.
Already a subscriber? Log in.
Limited time offer:
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!