Trading ideas: MRCB, KKB, Anzo, UEM Sunrise, Petra Energy

  • Business
  • Thursday, 18 May 2017

KUALA LUMPUR: MRCB, KKB Engineering, Anzo, UEM Sunrise and Petra Energy are among the stocks which could see trading interest  on Thursday, says JF Apex Research.

MRCB has proposed a one-for-one renounceable rights issue to pare down its borrowings and to finance the refurbishment of the national sports complex in Bukit Jalil. 

As for KKB Engineering, its 1QFY17 net loss narrowed by 24.6% to RM1.48mil thanks to improved topline from the group’s construction and steel pipes manufacturing divisions.

JF Apex Research noted that Focus Lumber posted a 88.92% on-year increase in net profit in 1QFY17 due to an improved production recovery rate and achieved lower production cost per cubic metre in the current quarter. 

There was a turnaround in Anzo, which reported profit after 16 consecutive loss-making financial quarters.

As for UEM Sunrise, it reported a 20-fold jump in its net profit for its1QFY17, on higher revenue from its development projects, and revision of estimated cost for completed projects. 

Amway Malaysia reported a 48% on-year drop in quarterly net profit attributable to lower sales and higher import costs, mainly due to a weaker ringgit.

JGF Apex Research said Hua Yang registered a 56% on-year fall in net profit in 4QFY17 as revenue shrank 37%.

MyEG Services has confirmed it is in negotiation to acquire a stake in popular food review website Eat Drink KL. 

Better times ahead for Petra Energy as returned to the black in the 1QFY17, mainly due to profit from the services, and production and development segments; 

Priceworth International will immediately start logging operations within Sabah's Forest Management Unit 5 (FMU5) in Trus Madi, following the approval of the state's authorities.

US market tumbled over 1% last night and erased gains in the past month on reports of President Donald Trump asking former FBI Director James Comey to end an investigation of former national security advisor. Similarly, European stocks plunged over political concerns on Trump. 
At Bursa Malaysia, the FBM KLCI lost 2.50 points to 1,775.65. 

“Following the bearish performance in the US, the KLCI is expected to decline today with immediate support at 1,755,” it said.
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