KUALA LUMPUR: JF Apex Research expects UEM Edgenta
, Sunway Construction, Pestech, DRB-Hicom, Bina Puri to be among the stocks which could see trading interest amid a subdued trading environment after the overnight fall on Wall Street.
UEM Edgenta is proposing to acquire Asia Integrated Facility Solutions Pte Ltd, which indirectly owns UEMS Pte Ltd (UEMS), for S$185.9mil (RM563mil). UEMS provides facilities management services to the healthcare sector serving over 60 public and private hospitals, and 26,000 beds in Malaysia, Singapore and Taiwan.
JF Apex Research said Sunway Construction secured three projects with a combined total value of RM209mil and bringing its outstanding order book to date to RM5bil.
Pestech’s joint venture with Fuji Electric Asia Pacific Pte Ltd bagged a RM89.53mil contract from Sarawak Energy Bhd to develop a substation in Bintulu
Bina Puri secured a RM18mil plant building project at Petroliam Nasional Bhd's Refinery and Petrochemical Integrated Development (Rapid) in Pengerang, Johor.
JF Apex Research pointed out DRB-Hicom could see more trading interest as the bid for the stake in its subsidiary, Proton is intensified with foreign carmakers such as PSA, Volkswagen and Geely are said to be participating in the process.
Teck Guan recorded a 144.78% on-year jump in 2QFY16 net profit thanks to higher selling prices for its palm oil products, favourable exchange rate, and an increase in sales volume
Poh Huat’s 3QFY16 net profit fell 6.02% on-year to RM9.99mil due to higher selling and distribution expenses as well as administrative expenses.
US markets fell sharply overnight led by financial and healthcare counters as investors turned cautious ahead of OPEC meeting and US presidential debate. Similarly, European stocks dropped as investors monitor OPEC meeting in Algeria.
At Bursa, the FBM KLCI lost 1.49 points to end Monday at 1,669.50. Following the negative performance in the US and Europe, the FBM KLCI is expected to remain lacklustre, trading below the resistance of 1,675.
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