KUALA LUMPUR: JF Apex Research expects KNM, DneX, Pharmaniaga and Kumpulan Perangsang Selangor (KPS) to be among the stocks which could see trading interest on Monday.
It said KNM clinched US$23.15mil (RM93.31mil) worth of orders for the fabrication of vessels for Tecnicas Reunidas SA.
DneX posted net profit of RM5.37mil in its 1QFY16, 11.5 times higher than the RM467,000 recorded a year ago, thanks to growth in its trade facilitation business, and better operation efficiency.
Pharmaniaga’s earnings fell 42.2% in its 1QFY16 due to increased expenses, including selling and distribution costs, amortisation of the pharmacy information system solution, and higher finance costs.
JFApex Research said KPS bought a 60% stake in the licence holder of the King Koil mattress brand for US$28.8mil (RM115.93mil).
Last Friday, US markets ended lower on Friday with the DJIA down 1.05% and the S&P 500 lost 0.85% despite improved retail sales data. In contrast, European stocks rose amid earnings announcements and lower oil price.
At Bursa Malaysia last Friday, the FBM KLCI plunged 20.72 points to 1,628.26 on foreign selling after the MSCI weightage on local equity market was reduced.
“Following the lacklustre performance in Wall Street on Friday, the FBM KLCI is expected to remain sluggish with support at 1,615,” it said.