UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.
KUALA LUMPUR: Sunway, Berjaya Food
, Poh Huat and Bumi Armada are among the stocks to watch on Thursday after their corporate results and announcements, says JF Apex Research.
It said Sunway announced a bonus issue of up to 2.8 billion new shares on the basis of four bonus shares for every three existing shares held.
JF Apex Research pointed out Berjaya Food fell into the red for its 4QFY17, as it undertook an impairment exercise.
As for Bison, its 2QFY17 net profit grew 55% on-year, on intensive promotional activities as the company consistently varied its product offerings.
Poh Huat's 2QFY17 net profit soared 174% on-year, on higher shipping volume of furniture exported from its Vietnamese and Malaysian operations.
Bumi Armada has inked a joint venture (JV) with two parties, Shapoorji Pallonji and Co Pvt Ltd (SPCL) and Cypress Energy Company Limited (CECL), to secure the award of a floating, production, storage and offloading (FPSO) project in Ghana.
Astro’s 1QFY18 net profit slipped 3% on-year on reduced EBITDA and rise in net finance costs;
On Wall Street, US markets ended mixed overnight with the Dow hitting record high after the Federal Reserve raised interest rates. European stocks declined except Germany's DAX before the Fed's decision and amid lower oil prices.
At Bursa Malaysia, the FBM KLCI surged 7.91 points to end at 1,792.35.
“Following the mixed performance in the US and Europe, the KLCI could continue to hover below the resistance of 1,800,” it said.
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