KUALA LUMPUR: Berjaya Sports Toto, Brahim’s and Apex Equity
Holdings could be the stocks to watch on Monday amid a downbeat market.
JF Apex Research said BToto’s 2QFY16 net profit fell 29.1% on-year to RM70.65mil.
The factors were mainly lower contributions from its number forecast operator (NFO) business as it absorbed the Good and Services Tax (GST) and also the lower prize payout a year ago.
In-flight food caterer Brahim's has entered into a conditional share sale agreement to dispose of 49% of its equity stake in Brahim's Airline Catering Holdings Sdn Bhd to SATS Investments Pte Ltd for up to RM218mil.
Apex Equity Holdings Bhd, executive chairman Chan Guan Seng is said to be now looking towards East Asia for potential buyers of his stake in the firm.
Last Friday, US stocks closed sharply lower as the DJIA fell 2.10% to end at 17,128.45 while the S&P500 lost 1.78% to close at 2,005.52 as market sentiment was badly affected by slide in crude oil prices. Similarly, the European stocks ended lower in relation to oil prices with growing oversupply concerns.
At Bursa Malaysia, the FBM KLCI slumped 12.62 points or 0.76% on Friday to end at 1,643.90.
“Following the lacklustre performance in Wall Street, the KLCI is likely to follow suit and extended its losing streak by testing our immediate support level of 1,620,” said JF Apex Research.
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