KUALA LUMPUR: Sona Petroleum Bhd, Iris Corporation Bhd
, Berjaya Sports Toto Bhd, Digi.com Bhd and Maxis Bhd could see trading interest on Tuesday after the recent news reports, says JF Apex Research.
Sona Petroleum, which is a special purpose acquisition company, plans to distribute 97% of the monies held in its cash trust account to eligible shareholders by November and the balance 3% of the monies will be distributed within two years from the first distribution.
The total gross amount of monies held in the cash trust account is RM543.25 million. This is equivalent to a gross distribution value of 49.38 sen per share (excluding tax and other distribution cost).
JF Apex Research said Iris plans to work with a China-based property developer to undertake its 1Malaysia Civil Servants Housing (PPA1M) project in Putrajaya.
As for Berjaya Sports Toto, the group’s 1QFY17 net profit fell 18.9% on-year to RM58.74mil mainly due to the results of H.R. Owen Plc as well as the foreign exchange effect recognised by a foreign subsidiary company during the current quarter. The gaming firm also declared a first interim dividend of 4 sen per share.
Digi and Maxis were in the news that their foreign shareholders were looking to exit amidst fierce domestic competition.
Overnight, US markets ended flat overnight after paring intra-day gains as investors stay cautious ahead of central bank meetings in the US and Japan. Earlier, European stocks gained following a rally in oil prices.
At Bursa Malaysia, the FBM KLCI lost 1.28 points to close at 1,651.71 despite a strong opening at 1,661.87.
“Following the mixed performance in the US and Europe, the KLCI is expected to remain flat and consolidate above the support of 1,650,” JF Apex Research said.
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