KUALA LUMPUR: JF Apex Research expects Vivocom, Gabungan AQRS, Benalec
, NTPM, LB Aluminium, SCGM and Magni-Tech to be among the stocks to see trading action on Friday after their corporate news.
The research house said Vivocom received letters of award totalling RM37.8mil for construction contracts in Sungai Buloh, Selangor, and Lorong Stonor, Kuala Lumpur.
Gabungan AQRS would be selling 1,140 units of affordable homes along with 19.03 acres of a leasehold land located in Putra Perdana, Sepang, on which they will be built to PR1MA Corp Malaysia for RM314mil.
Benalec has received the Department of Environment's (DoE) approval for the reclamation for phases 2 and 3 of its Tanjung Piai Integrated Petroleum & Petrochemical Hub and Maritime Industrial Park project.
NTPM the group’s 4QFY16 net profit fell 23.7% on-year to RM10.05mil, as margin declined on higher energy costs and labour-related expenditure.
LB Aluminium saw its 4QFY16’s net profit more than double to RM5.86mil, due to better margins arising from cheaper raw material, as well as lower tax provision.
SCGM’s 4QFY16 net profit fell by 32.61% on-year to RM3.46mil due to weaker ringgit, higher depreciation charges, and bigger finance costs.
Magni-Tech, the group saw its 4QFY16 net earnings increased by 13.3% on-year to RM18.84mil mainly due to higher garment revenue on the back of appreciation of the US dollar against the ringgit despite lower sales orders received.
US markets jumped over 1% overnight on expectation that Britain will vote to remain in the EU. Similarly, European stocks rallied as British voters decide on EU membership.
At Bursa, the FBM KLCI closed up 2.29 points to 1,639.98. “Following the bullish performance in the US and Europe, the FBM KLCI is expected to extend its rebound with support and resistance at 1,610 and 1,665 respectively,” it said.
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