KUALA LUMPUR: Pintaras Jaya Bhd
, IOI Corp Bhd and Prestariang Bhd are among the stocks which could see some trading action on Monday after their latest quarterly results and corporate announcements, according to JF Apex Research.
The research house also expects Guan Chong and BP plastics to generate some trading interest after their quarterly results announcements.
It said Pintaras Jaya saw its 1QFY17 net profit rise by close to double to RM13.2mil from a year ago, thanks to the higher progress billings while IOI Corp returned to the black after posting its first quarter net profit of RM104.8mil from a net loss of RM744.4mil a year earlier, on higher income from its upstream and downstream oil palm operations.
Prestariang is to implement a government-led border transformation programme at an estimated cost of RM3.54bil.
Guan Chong’s 3QFY16 net profit contracted 28.6% year-on-year to RM15.48mil, dragged down by lower net gain on foreign exchange arising from the weakening of the ringgit against the US dollar and British pound.
BP Plastics saw its 3QFY16 net profit decline by 48.9% year-on-year to RM3.05mil due to higher sales costs coupled with higher selling and marketing expenses.
Meanwhile, JF Apex said following the bearish performance in the US and Europe, the FBM KLCI may remain pressured with support at 1,610 points.
US markets declined slightly on Friday led by healthcare counters following comments from Federal Reserve officials and lower oil prices. Similarly, European stocks ended lower following rising dollar and higher US bond yields.
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