KUALA LUMPUR: JF Apex Research expects YLI Holdings, Superlon, Gamuda and Eco World Development to be among the stocks to watch on Friday after their corporate news.
YLI won a RM97.34mil pipe supply contract for the Langat 2 water treatment plant.
Superlon’s 3QFY16 net income soared 46.4% on-year thanks to a forex translation gain from weaker Ringgit. It also proposed a special dividend of four sen a share, which will go ex on April 8.
Gamuda recorded a 12% on-year drop in net profit for its 2QFY16 due to softer property market and tapering of KVMRT works.
Eco World Development recorded earnings of RM20.67mil in the first quarter ended Jan 31, 2016 on the back of RM463.51m in revenue. It is confident of achieving its RM4bil sales target in FY16 amid the soft property market.
US markets ended lower overnight ahead of Good Friday holiday following lower oil prices. Earlier, European stocks plunged over 1% following fresh concerns of US interest rate hike and lower commodity prices.
At the FBM KLCI, it lost 9.02 points to 1,715.53.
“Following the sluggish performance in the US and Europe, the KLCI is expected to decline on the back of profit taking with immediate support at 1,710,” it said.
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