UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.
KUALA LUMPUR: MRCB-Quill REIT, Samchem, MISC, UMW Oil and Gas and Daibochi are among the stocks which could see trading interest on Friday amid the heavy corporate newsflow, says JF Apex Research.
It said MRCB-Quill REIT posted a 39.9% on-year increase in its 1QFY17 net property income. This was contributed by additional revenue from the purchase of Menara Shell at end-2016, higher rental income due to step-up rent adjustments from QB3-BMW, Wisma Technip and QB2-HSBC.
As for Samchem, its earnings rose 38% on-year in its 1QFY17 net profit, on higher sales and wider profit margin.
Daibochi's 1QFY17 net profit fell 11% on-year due to lower foreign currency gain and higher raw material costs.
MISC recorded an 18% on-year increase in its 1QFY17 net profit, as its offshore segment returned to the black, thanks to the consolidation of the Gumusut-Kakap Semi-Floating Production System (L) Ltd.
JF Apex Research also pointed out UMW-OG has proposed to raise up to RM1.81bil through a rights issue of up to 6.05 billion new shares, together with up to 1.51 billion free warrants at an issue price of 30 sen per rights share.
Overnight on Wall Street, US markets were flat as declines in energy counters capped gains in overall market.
Earlier, European stocks surged with Germany's DAX hitting a record high after positive earnings announcements.
At Bursa, the FBM KLCI fell 13.84 points to end Thursday at 1,758.67.
“After yesterday's slump, the KLCI could consolidate and hover around 1750 points as the index finds a firm footing,” it said.
Limited time offer:
Just RM5 per month.
