New high for Dagang NeXchange Bhd
KUALA LUMPUR: JF Apex Research expects Perak Transit, Cypark, Econpile and Astro
to be among the stocks which could see trading interest on Wednesday after their corporate news.
Perak Transit is purchasing two plots of land near Universiti Teknologi Petronas in Tronoh, Perak to develop into an integrated bus terminal complex.
It said Cypark secured three contracts worth RM28.48 million from the Department of National Solid Waste Management.
As for Astro, its 4QFY17 net profit fell 28.8% on-year to RM145.08mil due to higher finance costs.
JF Apex Research pointed out Kelington bagged a contract from Hanwha Q Cells Malaysia Sdn Bhd for the onsite supply of nitrogen gas.
Econpile received a RM92.5mil contract from Mujur Minat Sdn Bhd to build the diaphragm wall for the Kampung Baru North Underground Station for the KVMRT2;
Meanwhile, Handal Resources has accepted a RM2.31mil crane maintenance contract from SapuraKencana Energy Peninsula Malaysia Inc.
United Malacca’s 3QFY17 net profit more than doubled to RM33.67mil from RM14.8mil a year ago, mainly due to higher average prices of crude palm oil and palm kernel, as well as higher fresh fruit bunches production.
On Wall Street, US markets snapped their eight-day losing streak, lifted by banking counters following improved consumer sentiment data.
European stocks rebounded after less concerns on US President Donald Trump's setback on implementing his policies.
At Bursa Malaysia, the FBM KLCI closed up 9.47 points to 1754.42.
“Following the positive performance in the US and Europe, the KLCI is expected to resume its ascend with resistance at 1,770,” said JF Apex Research.
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