UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.
KUALA LUMPUR: Heineken Malaysia
, Gas Malaysia, RCE Capital, DNex and ECS ICT are among the stocks which could see trading interest on Thursday, says JF Apex Research.
Heineken Malaysia’s final quarter net profit came in at RM104.7mil, with higher revenue from more efficient and effective commercial spending, supported by supply chain cost efficiencies.
Boustead Plantations returned to the black in 4QFY16, on gains from disposal of land and a subsidiary, and higher palm product prices.
The research house pointed out Gas Malaysia’s 4QFY16 net profit jumped five-fold year-on-year to RM51.86mil on higher volume of gas sold, tolling fees and assets contributed by customers.
RCE Capital’s 3QFY17 net profit rose 67% on-year, thanks to higher interest and fee income, driven by continuous growth in its consumer financing segment.
As for Wah Seong, the group bought a Germany-based pipe coating firm, mutares Holding-16 AG, for €19.5mil (RM91.5mil), to gain access to the latter's plant for pipe coating for the Nord Stream 2 Project in the Baltic Sea.
DNeX was picked to be the service provider for the eWork Permit System.
JF Apex Research also said ECS ICT’s 4QFY16 net profit rose 22% on-year to RM12.6mil on higher sales and the write back of impairment loss on trade receivables.
Overnight on Wall Street, US markets rose to record highs for a fifth straight day as investors continue to buy into President Donald Trump's economic reforms.
European stocks also advanced after US Federal Reserve Chair Janet Yellen hinted at a potential interest rate hike next month.
At Bursa, the FBM KLCI eked out a marginal 0.89 point to close at 1,709.79 as the index took a breather from the recent surge.
“Following the positive performance in the US and European markets, the FBM KLCI is expected to hover below its resistance of 1,730,” it said.
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