The research house said SapuraKencana’s 1QFY17 net profit fell 58% on-year to RM110.31mil as the oil and gas support services provider contended with lower demand for its rigs as oil companies spent less on upstream operations.
OCK secured a US$40.2mil (RM163.8mil) loan in Myanmar to help finance the construction of 920 telecommunications towers in the country.
UEM Edgenta bagged a RM42.99mil contract from Malaysia Airlines Bhd to provide facilities management services.
JF Apex Research said Subur Tiasa posted net loss of RM13.9mil in its 3QFY16 versus net profit of RM2.71mil a year ago mainly due to lower average export selling price of logs, plywood and sawn timber; higher raw material costs for manufacturing of timber products; and higher volume of fertiliser applied to higher acreage of mature oil palm trees.As for JAKS Resources, it plans to sell the newly opened Evolve Concept Mall near Ara Damansara, Selangor, within a year to boost its financial position. Evolve Concept Mall's fair value was RM390mil with a net lettable area of 460,000 square feet.
The research house also said US markets climbed more than 1.5% overnight to recoup some losses from Brexit following higher oil price. European stocks jumped over 2.5% after two days of declines following the Brexit vote.
At Bursa, the FBM KLCI rose 4.52 points to close at 1,634.04 to rebound from the recent Brexit scare.
“Following the overnight rebound in the US and Europe, the KLCI is expected to sustain its positive trend with resistance at 1,665,” it said.
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