Trading ideas: LKL, EcoWorld, Ni Hsin, Ecofirst


  • Corporate News
  • Tuesday, 24 Jan 2017

Moody's outlook on the Korean banking system has been negative since May 2016.

KUALA LUMPUR: LKL, EcoWorld, Ni Hsin and Ecofirst are among the stocks which could see trading interest on Tuesday after their corporate announcements and news, says JF Apex Research.

LKL is buying a fully automated laser tube cutting machine for €830,000 (RM3.96mil) as part of its efforts to expand its business in the healthcare industry.

EcoWorld teamed up with the EPF to build two townships in Batu Kawan, on the mainland of Penang, with a gross development value (GDV) of RM7.8bil.

Ni Hsin plans to make its foray into the China market from the second quarter of 2017 by introducing its in-house brand, Pentoli, which covers a range of stainless steel cookware.

Ecofirst's 2QFY17 net profit fell 55% on-year to RM5.23mil as topline declined 49%.

Meanwhile, TMC Life Sciences’ net profit rose 32.9% on-year to RM4.44mil on the back of higher revenue.

JF Apex Research said SCH returned to the black with a 1QFY17 net profit of RM400,000 in 4QFY16. 

SMTrack proposed a par value reduction and share consolidation to reduce its accumulated losses, with the credit arising from the cancellation of share capital, in a bid to rationalise its balance sheet.

Overnight, US markets closed lower after President Donald Trump took office and investors wait for more details on his policies. Similarly, European stocks declined on Trump's protectionist stance.
 
At Bursa Malaysia, the FBM KLCI gained 6.42 points to close at 1,671.31. 

“Following the decline in the US and Europe, the FBM KLCI could hover below the resistance of 1,680,”  said JF Apex Research.
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