KUALA LUMPUR: JF Apex Research expects British American Tobacco
(BAT), Sasbadi, Pasukhas, Malaysian Bulk Carriers (Maybulk) and Vivocom to be among the stocks which could see trading interest on Wednesday after their corporate news.
It said BAT’s 1QFY16 net profit fell 28.6% on-year to RM172.61mil mainly due to weak volume performance. BAT declared a first interim dividend of 55 sen per share.
Sasbadi’s 2QFY16 net profit fell 20.4% on-year to RM6.64mil on lower revenue from academic book publishing and increased staff headcount for capacity building. The group also announced that its application for a direct sales licence has been approved by the Ministry of Domestic Trade, Co-operatives and Consumerism.
JF Apex Research said as for Pasukhas, it was appointed the exclusive agent to undertake sales and marketing for TBEA Hengyang Transformer Co Ltd and related services across Malaysia, Singapore, Brunei and Thailand for one year.
Maybulk clinched a 15-year contract worth RM563mil to transport coal for Tenaga Nasional Bhd.
Vivocom, the group has inked a heads of agreement for a RM90mil contract to undertake a mixed development project on a 3.11ha land in Hulu Kinta, Perak.
JF Apex Research said overnight on Wall Street, US markets were mixed as the Dow and S&P posted slight gains while the Nasdaq declined after Apple shares dropped 1%.
European stocks were mixed as investors wait for the outcome of meetings of the US Federal Reserve today and Bank of Japan tomorrow.
“On the local market, the FBM KLCI plunged 22.01 points to 1,692.50. Following the mixed performance in the US and Europe, the FBM KLCI could consolidate above the support of 1,688,” it said.
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