New high for Dagang NeXchange Bhd
KUALA LUMPUR: LB Aluminium, Prolexus
, Astino, Cypark Resources are among the stocks which could see trading interest on Monday after their corporate news, says JF Apex Research.
It also pointed out that other stocks which could attract attention were Pelikan International and Subur Tiasa.
LB Aluminium's 4QFY17 net profit fell 76% on-year mainly on higher taxes amid higher revenue achieved.
Astino's 3QFY17 net profit rose 18% on-year on higher sales and better profit margin.
As for Prolexus, its 3QFY17 net profit was down 54% on-year due to weaker performance for its apparel business.
JF Apex Research noted that Cypark Resources’s 2QFY17 net profit fell 24% on-year, as it incurred accounting expenses on the grant of equity-settled share options to its employees.
Pelikan International is selling its remanufactured toner, inkjet cartridge and nylon ribbons businesses in Germany, France, Czech Republic and China for RM30mil.
Meanwhile, Subur Tiasa returned to the black in its 3QFY17 due to higher average export selling prices for timber and fresh fruit bunches (FFB) and lower production cost of FFB.
Last Friday, US markets ended slightly higher led by consumer and energy counters. Earlier, European stocks declined following political uncertainty after news of British banks stopped trading Qatari riyals.
At Bursa Malaysia, the FBM KLCI tumbled 7.69 points to end the second quarter at 1,763.67.
Following the mixed performance in the US and Europe, the KLCI is expected to remain lacklustre with support at 1,760, said JF Apex Research.
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