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Trading ideas: Pharmaniaga, Amway, Amcorp Properties, Sapura Energy


KUALA LUMPUR:JF Apex Research expects Pharmaniaga Holdings, Amway (M) Holdings, Amcorp Properties , Sapura Energy and Xidelang to be among stocks to watch on Thursday.


The research house also expects Tenaga Nasional Bhd (TNB), Privasia Technology and Hock Seng Lee to see trading interests following their latest corporate news.


Pharmaniaga's 3QFY17 net profit dropped 72.6% year-on-year, on lower off-take for in-house products.


Amway’s 3QFY17 net profit fell 21% year-on-year on lower sales and higher import costs primarily attributed to the weaker ringgit.


Amcorp Properties saw its 2QFY18 net profit jump nearly 15 times year-on-year mainly from its share of joint ventures results for its overseas property developments.


Sapura Energy has bagged five contracts worth a combined RM1.47bil which include work in relation to the Pan Malaysia Transportation and Installation of Offshore Facilities.


Xidelang plans to undertake a 1-to-1 bonus issue to improve its share liquidity.


TNB is partnering Indonesian state-owned utility company PT PLN (Persero) to build a 2x200MW coal-fired power plant in Kalimantan, Indonesia.


Privasia Technology has bagged a RM2.05mil contract for the supply, delivery, implementation, testing and commissioning of a port management information system by Lumut Maritime Terminal Sdn Bhd.


Hock Seng Lee said that the family dispute has been amicably settled.


Meanwhile, US markets plunged overnight following lower oil prices after the International Energy Agency slashed its oil demand growth forecast.


Similarly, European stocks tumbled after decline in commodity prices.


On the local market, JF Apex said the FBM KLCI plunged 10.62 points to 1722.99 points yesterday on foreign selling.


“The index broke the support of 1,730 points and could trend lower towards the next support at 1,700 points,” it said.


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