KUALA LUMPUR: JF Apex Research expects Berjaya Food
, Scomi Engineering and Zelan to be among the stocks which could see some trading action after their corporate news.
The research house said Berjaya Food’s 3QFY16 net profit fell 14.3% on-year to RM7.4mil due to lower contribution from Kenny Rogers Roasters outlets in Malaysia amid prudent consumer spending after the implementation of the Goods and Services Tax and depreciation of the ringgit.
As for Scomi Engineering, the group has received a notice of remedy from Prasarana Malaysia Bhd after the group failed to deliver trains on time for the KL Monorail system.
Zelan bagged a temporary sale office construction contract for Bukit Bintang City Centre worth RM37.78mil.
JF Apex Research said US and European markets closed higher lifted by a rise in oil prices, as investors awaited Thursday's European Central Bank decision on monetary policy.
ECB President Mario Draghi is expected to announce more stimulus measures, with hopes of expansion of the asset purchase programme and a possible further cut to the already negative deposit rate.
On Wednesday, the FBM KLCI fell 1.51 points or 0.1% to end at 1,686.35 after China’s weaker-than-expected external trade figures.
“We envisage the local bourse to stage a rebound for today to re-test the immediate resistance level of 1,700-1,710 following the surge in crude oil prices with Brent slightly above the US$40 a barrel,” it said.
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