KUALA LUMPUR: JF Apex Research expects Maxis, Hai-O, George Kent, Gamuda, Kim Loong and glove makers to be among the stocks which could see trading interest on Thursday after their corporate news.
It said Maxis unit, Maxis Broadband Sdn Bhd (MBSB), is planning a sukuk issuance with a tenure of up to 30 years to raise as much as RM10bil.
Hai-O’s 4QFY16 net profit grew 24.4% on-year to RM11.2mil thanks to higher revenue achieved by the multi-level marketing division.
JF Apex Research also said George Kent’s 1QFY17 net profit jumped 52% on-year, boosted by the spike in revenue in its engineering division with steady progress of ongoing projects.
Gamuda’s 3QFY16 net profit fell 4.8% on-year to RM152.69mil as earnings were affected by the softening of the domestic property market and tapering of underground and elevated works for the Klang Valley Mass Rapid Transit (KVMRT) Line 1 project.
As for Kim Loong, its 1QFY17 net earnings fell 16% on-year due to lower fresh fruit bunches (FFB) yield and lower oil extraction rate.
Rubber glove stocks could see trading interes as the gas price of the non-power sector will increase nearly 6% effective July 15.
JF Apex Research US markets rallied over 1.5% to recover from post-Brexit plunge following higher oil prices. Similarly, European stocks surged and extended the rebound as Brexit concerns eased.
At Bursa, the FBM KLCI closed up 8.17 points to 1,642.21.
“Following the bullish performance in the US and Europe, the FBM KLCI is expected to extend its rebound with resistance at 1,665,” it said.
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