UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.
KUALA LUMPUR: JF Apex Research expects DneX, Leweko, Willowglen MSC
, Gadang, OCK and Only World Group (OWG) to be among the stocks to watch on Monday after their corporate news.
It said DneX bagged a RM104.3mil subcontract from TCSens Sdn Bhd to operate and manage the Vehicle Entry Permit and Road Charges (RC) system project for five years. The project was secured by its 51%-owned subsidiary DNeX RFID Sdn Bhd.
As for Leweko, the group is hiving off its sawn and moulded timber business and assets for RM15.5mil, which it expects will cut its liabilities by RM14mil.
Willowglen MSC won a RM7.7mil contract to deliver various electrical instrumentation control panels.
Gadang proposes to jointly develop a large scale photovoltaic plant in Kota Marudu, Sabah.
As for OCK, its 60%-owned OCK Vietnam Towers Pte Ltd acquired the entire equity interest in Southeast Asia Telecommunications Holdings Pte Ltd (SEATH) for US$50mil (RM223.12mil).
Only World will close 14 food, family attraction and retail outlets in First World Hotel, Genting Highlands, to facilitate ongoing redevelopment and transformation of Resorts World Genting beginning Feb 12. It expects a financial impact to the group because the affected outlets contribute 39% to 59% of the total revenue and profit before tax for FY16.
JF Apex Research also said MMC has acquired a 70% stake in Tanjung Bruas Port for RM21mil.
Last Friday, US markets closed mixed amid higher quarterly earnings posted by banks and the Nasdaq extending its record high. European stocks were positive after better-than-expected corporate earnings from the US
At Bursa Malaysia, the FBM KLCI lost 5.26 points to close at 1,672.50.
“Following the recent sideways trend, the FBM KLCI could continue to hover below the resistance of 1,680,” it said.
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