KUALA LUMPUR:Tien Wah Press, Minetech Resources, Mesiniaga and ML Global are among the stocks which could attract trading action on Wednesday after the release of their corporate news, says JF Apex Research.
The research house also expects Hartalega, OldTown, Seacera and Unisem to attract trading interest following their corporate news and latest quarterly results announcements.
Tien Wah Press fell into the red in its 2QFY17 results with a net loss of RM14.45mil from a net profit of RM6.12mil a year ago, mainly due to the cessation of the group's Australian printing operations.
Minetech Resources has bagged a RM16.28 million subcontract for works at a Mass Rapid Transit 2 (MRT2) station while Mesiniaga reported a 32.5% year-on-year increase in its 2QFY17 net profit on higher revenue contribution from its services segment.
ML Global has bagged a demolition and reconstruction works contract for Menteri Besar Selangor Incorporated (MBI Selangor) worth RM38mil.
Hartalega posted a 71.58% year-on-year increase in its 1QFY18 net profit thanks to the increase in sales volume and average selling price, strengthening of the US dollar and improvement in operation efficiency.
Old Town has agreed to confer the right to operate restaurant business under the brand name of "OldTown White Coffee" in Shanghai, China, to Shenzhen Kopitiam Asia Pacific Ltd;
Seacera has signed a Memorandum of Understanding with Teras Sari Resources Sdn Bhd to jointly undertake work for the Karak water supply project in Bentong, Pahang.
Unisem saw its 2QFY17 net profit jump 11.8% year-on-year on the back of higher sales in US dollars and a better exchange rate.
Meanwhile, US markets closed mixed overnight with the Dow ending its 10-day winning streak as geopolitical tension against North Korea increased.
Earlier European stocks advanced following encouraging quarterly results.
“Following the mixed performance, the FBM KLCI is expected to hover below the resistance of 1,800 points,” JF Apex said.
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