Foreign funds have continued to be net buyers on Bursa Malaysia on Monday at RM167.64mil.
KUALA LUMPUR: JF Apex Research expects AirAsia, Puncak Niaga, Zhulian
, Sunway REIT and Berjaya Assets to see some trading interest on Thursday after their corporate announcements.
AirAsia ordered 200 additional CFM LEAP-1A engines to power the 100 new Airbus A321neos it is buying. The low-cost carrier expects these engines, valued at US$2.7bil at list price, to deliver 15% fuel efficiency and reduction in carbon monoxide emissions.
Puncak Niaga is selling its loss-making water treatment company in China, Luwei (Pingdingshan) Water Co Ltd, to a Chinese state-owned enterprise as it exits from China.
Berjaya Assets's unit, Berjaya Waterfront Sdn Bhd inked a memorandum of understanding with Foshan City Bureau of Commerce (FCBC) to foster trade and investment activities from Foshan City to the South East Asia Duty Free Trade City project at Berjaya Waterfront in Johor Bahru.
Zhulian's 2QFY16 net profit fell 28.4% on-year to RM7.9mil due to a drop in revenue and share of profit from its associate.
Bison bought up Otaru Fine Food Sdn Bhd, a manufacturer and dealer of bakery products, for RM200,000 cash.
The Securities Commission granted a waiver to Sunway REIT after the group bought a piece of land for the extension of the Sunway Carnival mall in Seberang Perai, Penang.
Overnight, US stocks rose for a fourth consecutive day as the Dow and S&P extended their all-time highs with small gains. However, European markets retreated as equities took a breather from recent gains.
At Bursa, the FBM KLCI gained 6.42 points to 1,660.39 after the surprise Overnight Policy Rate cut by Bank Negara.
“Following the overnight positive performance in the US and the domestic loosening monetary policy environment, the FBM KLCI could ride on the recent uptrend and test its resistance and 200-day moving average at 1,665,” it said.
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