KUALA LUMPUR:JF Apex Research expects Petronas Dagangan, Gas Malaysia, Paramount, PRG, TSR and MBSB to see some trading action on Thursday after their corporate announcements.
Petronas Dagangan’s 1QFY16 net profit rose 6.6% on-year to RM219.4mil on higher “other income”.
Gas Malaysia’s 1QFY16 net profit rose 10.14% on-year to RM31.38mil mainly on higher gross profits, increase in its volume of gas sold and the upward revision of natural gas tariff.
JF Apex Research said Paramount’s 1QFY16 net profit fell 58.2% on-year to RM9.69mil due to weaker property sales.
Meanwhile, PRG proposed to spit each share into two to enhance the stock's marketability and trading liquidity.
TSR Capital is diversifying into the oil and gas industry after signing a memorandum of agreement with two individuals to set up a special purpose vehicle for the O&G venture.
MBSB, the group reported a lower set of earnings of RM34.83mil for its 1QFY16, fell 72.0% on-year, as it made more than double the amount in allowances for impairments.
Overnight, US markets fell 1% overnight following a decline in consumer and retail counters. European stocks were lower following disappointing corporate earnings and loss in banking counters.
At Bursa Malaysia, the FBM KLCI gained 8.74 points to 1,644.58to extend its rebound.
“Following the bearish performance in the US and Europe, the KLCI could reverse its gains in the past two days with immediate support at 1,620,” JF Apex Research said.
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