New high for Dagang NeXchange Bhd
KUALA LUMPUR: Tenaga Nasional, T7Global, Vizione
, Datasonic, Westports, Engtex and Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) are among the stocks which could trading action after their corporate news, says JF Apex Research.
It said on Friday Tenaga Nasional’s 2QFY17 net profit rose 12% on-year on the back of higher revenue and lower over-recoverability of imbalance cost pass-through (ICPT) recognised during the current period.
As for T7 Global, its contract with Petronas Carigali Sdn Bhd was extended one-year where it will provide construction work request (CWR) worth about RM200mil.
JF Apex Research also noted that Vizione won a RM58mil subcontract in a government housing project in Kelantan under the Program Perumahan Rakyat (PPR).
Datasonic has won a RM40.8 million contract for maintenance services at the National Registration Department’s (NRD) card personalisation centres.
Westports's 1QFY17 net profit dropped 17.6% on-year due to the absence of a one-off gain disposal gain of RM20.4mil that was recognised in 1QFY16 coupled with higher fuel cost during the current quarter.
Engtex’s orderbook grew to RM170mil as at March 31, 2017, after the company secured five pipe supply contracts worth RM60mil in the first quarter of 2017, with most of these are set to be recognised in FY2017.
As for MMHE, it continued to struggle in its 1QFY17 with a net loss of RM16.61mil, which was more than double a year ago.
Overnight, US markets ended slightly higher overnight with the Nasdaq extending its record high ahead of major tech companies quarterly results. European stocks declined after the European Central Bank kept interest rates unchanged.
At Bursa Malaysia, the FBM KLCI shed one point to close at 1,767.92.
“Following the mixed performance in the US and Europe, the FBM KLCI could hover below its resistance of 1,770,” it said.
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