Trading ideas: Tasco, Cypark, Tenaga and Sasbadi

  • Business
  • Wednesday, 25 Jan 2017

KUALA LUMPUR: Tasco, Cypark, Tenaga Nasional and Sasbadi are among the stocks which could attract trading interest on Wednesday after their corporate news and announcements, says JF Apex Research.

It said Tasco is buying six leasehold tracts of land in Selangor's Pulau Indah and a 100% stake in cold storage firm Mils Gold Chain Logistics Sdn Bhd to expand its capacity.

As for Cypark, it secured a RM15.19mil contract for a solid waste disposal project in Nilai, Negeri Sembilan.

Tenaga’s 1QFY17 net profit dropped 11.9% on-year to RM1.74bil due to the strengthening of the US dollar against the ringgit.

JF Apex Research also said pharmacy chain Caring's 2QFY17 net profit jumped 44% on-year to RM2.76mil, mainly due to higher sales.

It pointed out WZ Satu’s net profit for Q1, FY17 almost doubled to RM8.5mil from RM4.44mil a year ago, in line with better performance of all its key subsidiaries.

Meanwhile, Sasbadi's Q1, FY17 net profit doubled to RM4.33mil from RM2.03mil a year ago thanks to increase in revenue from its delivery of robotics sets and textbooks to schools under the Ministry of Education Malaysia. 

Overnight on Wall Street, US markets surged, led by material and infrastructure counters with the S&P500 hitting a record high after corporate earnings. 

Earlier, European stocks rose following improved economic data in employment and quarterly results.
At Bursa Malaysia, the FBM KLCI surged 9.38 points to end at 1,680.69. 

“Following the bullish performance in the US and Europe, the KLCI could extend its surge towards the resistance of 1,700,” it said.

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