Foreign funds have continued to be net buyers on Bursa Malaysia on Monday at RM167.64mil.
KUALA LUMPUR: JF Apex Research expects Daibochi Plastic and Packaging Industry Bhd, Yong Tai Bhd
, Cuscapi Bhd, Ho Wah Genting Bhd and SCGM Bhd to be among the stocks to watch on Thursday after their corporate news.
It said Daibochi’s second quarter FY16 net profit fell 15.5% year-on-year to RM6.08mil, on higher operating costs driven by the group’s revised wage policy in January, less favourable product mix and higher production wastage.
As for Yong Tai, the group was despatching a circular to its shareholders on its proposed corporate exercise to bring in Hong Kong-listed Sino Haijing Holdings Ltd as a new substantial shareholder.
Cuscapi saw its net loss widened to RM3.71mil in 2QFY16, from RM3.45mil in the corresponding quarter last year on weaker revenue and higher support personnel cost.
Ho Wah Genting and Korea-based SM Dutyfree Co Ltd have signed a memorandum of understanding (MoU) to collaborate and evaluate the feasibility of opening duty free outlets in Malaysia.
SCGM has proposed to undertake another round of private placement, this time to raise capital for the construction of a new plant in Kulai, Johor.
Overnight, the US markets declined led by energy counters following lower oil prices. Similarly, European stocks also dropped after falling oil price and disappointing quarterly earnings.
On the local market, the FBM KLCI ended flat yesterday after gaining 1.32 points to 1673.03 points.
“Following the negative performance in the US and Europe, the FBM KLCI could pull back from recent gains and consolidate below the resistance of 1,685 points,” JF Apex said.
At 10.30 am, the FBM-KLCI was at 1,674.97 up 1.94 points. The index opened unchanged at 1,673.03.
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