Trading ideas: DRB-Hicom, Astral Asia, HeiTech Padu, MBSB


KUALA LUMPUR: JF Apex Research expects DRB-Hicom, Astral Asia, HeiTech Padu, MBSB, Fajarbaru and PIE Industrial to be among the stocks to watch on Tuesday after their corporate news.

It said DRB-Hicom expects to secure a partner to grow its automotive business by the first quarter of 2017 and also denied that it may dispose of its entire stake in Proton; 

As for Astral Asia, it called off the plan to expand its plantations which would have involved buying  35,000 acres of oil palm land in Sarawak. 

HeiTech Padu won a RM37.29mil contract from Tenaga Nasional Bhd to build a a transmission main intake for the Mass Rapid Transport project at the Semantan Portal.

It pointed out MBSB’s second quarter earnings fell 26.3% mainly due to higher allowances for impairment losses on loans, advances and financing; 

Fajarbaru won a RM20.96mil infrastructure contract from the East Coast Economic Region Development Council.
 
PIE Industrial’s 2QFY16 net profit tumbled 35.8% on-year due to lower profit margin, higher operating expenses and higher provision for slow-moving inventories.

LKL International bought a steel sheet punching machine to cater to higher volume demands. 

Overnight on Wall Street, US markets ended slightly lower after coming off record highs as investors await July's retail sales data due on Friday. 

In contrast, European stocks closed higher, led by banking and mining counters amid higher oil price.
 
At Bursa Malaysia, the FBM KLCI rose 8.64 points to end at 1,672.68. 

Following the mixed performance in the US and Europe, the KLCI could test the resistance of 1,685 with a positive bias after crossing the 100- and 200-day moving averages on Monday.


Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

CPO futures to see profit-taking activities next week
Leon Fuat cautious on demand of steel products as Covid worries weigh
Pertama Digital, Experian to jointly explore alternative credit scoring solutions
Some commodities have now wiped out all of their 2021 gains
Job value proposition
Digital bank race heats up
Short Position - What’s up at Euro?
Best is yet to come, says cash-rich Greatech
Turnaround projected for Ta Win Holdings
Robust growth in Asia is a major attraction for fund managers

Stories You'll Enjoy


Vouchers