KUALA LUMPUR: HSS Engineers, Taliworks, Petronas Chemicals, Ajiya
and KKB Engineering are among the stocks which could see trading interest on Wednesday.
HSS Engineers will make its debut on the Ace Market with an offer price of 50 sen. Analysts have conservatively put the target price at 60 sen.
JF Apex Research said Taliworks, the group saw its 2QFY16 net profit surge eight times to RM76.19mil on the back of a one-off gain of RM65.8mil after selling its China waste management unit.
Petronas Chemicals’ earnings fell 17% on-year in its 2QFY16, mainly on a RM241mil (US$59mil) asset write-off after cancelling its elastomers project.
TAS Offshore secured two contracts worth a combined RM31.6mil for the sale of two harbour tugs.
Hibiscus Petroleum proposed another fundraising exercise that consists of 82.31 million placement shares or 6.05% of its issued share capital.
Ajiya will partner Sarawak-based IMAG Development & Construction Sdn Bhd to undertake a housing project to be awarded by Prima Corporation Malaysia (PR1MA).
KKB Engineering’s 2QFY16 net profit plunged 94.4% on-year, due to lower activities from the two subsidiaries resulted in a reduced revenue recorded by its steel pipe manufacturing business
On the external front, US markets climbed slightly higher with the Nasdaq hitting a new high amid lower oil prices. European stocks also gained as several earnings announcements beat expectations.
At Bursa Malaysia, the FBM KLCI shed 0.97 point to close at 1,671.71. Following the positive performance in the US and Europe, the KLCI could remain steady but below the resistance of 1,685.
Limited time offer:
Just RM5 per month.
