UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.
KUALA LUMPUR: Affin Holdings
, Yong Tai, Destini, YGF and JHM are among the stocks which could see some trading interest on Friday, says JF Apex Research.
Affin Holdings plans to undertake a corporate reorganisation exercise that would see Affin Bank Bhd take over its listing status on the Main Market of Bursa Malaysia.
Yong Tai, the group intends to buy a 70% stake in Iconic Paragon Sdn Bhd to take part in a proposed development on two leasehold plots with a cumulative 1.08-acre size in Bukit Bintang, Kuala Lumpur.
Destini bought a military helicopter supply company, enabling it to get a share of a RM321.9mil contract between the company and Ministry of Defence.
BAT Malaysia, the group posted a 52.2% on-year increase in net profit for its 4QFY16, due to a restructuring income of RM131.92mil but revenue was down 20.55% on-year. The group also declared a fourth interim dividend of 77 sen per share and a special dividend of 46 sen per share.
The Inland Revenue Board has commenced civil proceedings against Mega First for RM26.33 million in tax debt.
YFG bagged a RM245mil contract for the 1Malaysia People's Housing Programme (PR1MA) houses in Pedas, Rembau, Negeri Sembilan.
Taliworks’s 4QFY16 net profit fell 38% on-year due to the absence of exceptional gain from a stake disposal.
JHM secured the necessary certification for it to expand its clientele in the aerospace industry.
Overnight on Wall Street, US markets took a break from a seven-day winning streak. Earlier, European stocks also declined after Wall Street came off record high levels.
At Bursa Malaysia, the FBM KLCI shed 2.20 points to close at 1,707.59.
JF Apex Research said following the pullback in the US and European markets, the KLCI could continue to hover below its resistance of 1,730.
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