KUALA LUMPUR: JF Apex Research expects Pestech International Bhd
, WZ Satu Bhd, NTPM Holdings Bhd, Kian Joo Can Factory Bhd, Yee Lee Corp Bhd and Affin to generate some trading interest on Monday after their corporate announcements, according to JF Apex Research.
JF Apex said Pestech, its JV consortium has won a contract to install three substations for Severelectro JSC under an electricity supply accountability and reliability improvement project (ESARIP) for US$8.46mil (RM34.75mil).
As for WZ Satu, the group has aborted its RM368mil proposed acquisition of Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd (Silk), the operator of the Kajang Silk Highway, from SILK Holdings Bhd.
NTPM’s 1QFY17 net profit fell by 27.4% year-on-year to RM9.38mil due to higher energy and labour cost from its fledgling tissue operation in Vietnam.
JF Apex said Kian Joo, the group and Togo (Hong Kong) Industries Ltd have entered into a memorandum of understanding (MoU) to manufacture and distribute aluminium cans and bottles.
Yee Lee has secured the distribution rights of Japanese soft drink brand Suntory beverage for three years in Peninsular Malaysia.
Affin said that it has applied with Bank Negara Malaysia for an extension of time for negotiations to purchase a 16% stake in AXA Affin General Insurance Bhd from Felda Global Ventures Holdings Bhd (FGV).
Last Friday, the US markets ended lower by energy counters after oil prices declined. Similarly, European stocks were negative after slower manufacturing data.
On the local bourse, the FBM KLCI added 1.33 points to 1670.99 points on Friday.
“Following the bearish performance in the US and Europe, the FBM KLCI could take a breather and trend below the resistance of 1,675 points after last week’s rebound,” JP Apex said.
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