KUALA LUMPUR: Kuantan Flour Mills Bhd (KFM), Mitrajaya Holdings Bhd
, Sedania Innovator Bhd and Selangor Properties Bhd are among the stocks which could see trading interest following their corporate announcements and financial results, according to JF Apex Research.
The research house said KFM has inked a memorandum of understanding (MoU) with Lotus Essential Sdn Bhd for contract manufacturing, as well as an offtake agreement for provision of flour-milling activities, besides Lotus was considering a strategic investment in the group.
Mitrajaya won a contract worth RM183.44mil from concessionaire West Coast Expressway Sdn Bhd to build Section 2 of the West Coast Expressway (WCE) from the South Klang Valley Expressway interchange to the Shah Alam Expressway interchange.
Sedania’s wholly-owned subsidiary IDOTTV Sdn Bhd is partnering with Iscada Net Sdn Bhd to provide Internet of Things (IoT) solutions to the Fire and Rescue Department of Malaysia (JBPM) for a period of five years.
Selangor Properties’ 4QFY16 net profit plunged 88.1% year-on-year to RM57.4mil, due to lower profit from its property investment division; higher losses from its property development segment pursuant to marketing, corporate and administrative costs, in addition to zero sales of Aira Residence units; as well as foreign exchange loss of RM15.8mil as the ringgit strengthened against the US dollar.
Overnight, U.S. stocks ended slightly higher, kicking off the last trading week of the year on a positive note with the Nasdaq composite setting a closing record. European stocks were little changed at the close on Tuesday amid thin volumes during the holiday period in the region.
JF Apex said the local bourse would remain flat on the back of thin trading volumes. However, selected blue chips may see some trading interests with potential window dressing.
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