KUALA LUMPUR: JF ApexResearch expects Kerjaya Prospek, Mitrajaya, SP Setia, CAB Cakaran
and Three-A Resources as among the stocks to watch on Friday after their corporate announcements and results.
Kerjaya Prospek won a RM207.36mil contract for a property project in Shah Alam.
As for Mitrajaya, it secured a RM160.1mil contract to construct residential buildings for a higher learning institution.
SP Setia is expecting higher sales in the coming months to meet its target of RM4bil for this year.
For the first quarter ended March 31, 2017, (FY17) the group posted a 15% decline in net profit of RM105.2mil from RM123.4mil a year ago, on the back of higher revenue of RM940mil, 3.5% higher than RM908mil previously.
CAB Cakaran has proposed a share split and bonus issue to enhance the marketability and trading liquidity of its shares;
Three-A Resources’s 1QFY17 net profit rose by 54.26% on-year due to higher product margins and lower foreign currency losses;
7-Eleven aims to have 20 customers a store per day for offline payment solution through its partnership with Lazada Malaysia and MOLPay.
T7 Global’s unit T7 Aero Sdn Bhd has formed a 60:40 joint venture with Kilgour Metal Treatments Ltd’s unit KOV Ltd to undertake high-value metal treatment manufacturing.
Overnight on Wall Street, US markets ended lower led by retail counters after Macy's poor quarterly earnings sparked concerns of weakness in consumer spending.
Earlier, European stocks also dropped amid corporate earnings and higher oil prices.
At Bursa Malaysia, the FBM KLCI gained 8.83 points to close at 1,775.39.
“Following the negative performance in the US and Europe, the FBM KLCI could pull back from yesterday's gains,” said JF Apex Research.
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