KUALA LUMPUR: Dutch Lady Milk Industries Bhd , Kuala Lumpur Kepong Bhd (KLK) Hap Seng Consolidated Bhd , Protasco Bhd , Vertice Bhd and Westports Holdings Bhd are among the stocks to watch, according to JF Apex Research.
Dutch Lady’s 1QFY18 net profit rose 7.2% year-on-year driven by higher revenue and lower input costs.
KLK has proposed to acquire a 95% stake in Indonesia’s PT Putra Bongan Jaya or 139,308 shares of nominal value RP500,000 per share from PT REA Kaltim Plantations for RM296.4mil, subject to adjustments.
Hap Seng Consolidated is acquiring from Mercedes-Benz Malaysia Sdn Bhd, its commercial vehicle general distributorship business, paving the way for Hap Seng to become the sole general distributor of Mercedes-Benz and FUSO commercial vehicles in Malaysia.
Protasco’s associate company has received an award of job worth RM92mil to develop a 6.8 MWac large scale solar photovoltaic plant in Alor Gajah, Melaka.
Vertice has lost a RM59.13mil contract to provide engineering, procurement, construction and commissioning (EPCC) for an interconnecting road in Pengerang, Kota Tinggi, Johor, from Tulane Sdn Bhd.
Westports saw its 1QFY18 net profit dip 12.1% year-on-year due to higher depreciation and finance cost.
Meanwhile, US markets staged a rebound and ended a 5-day losing streak amid strong quarterly earnings and concern on rising Treasury yield.
The Dow Jones Industrial Average closed at 24,083.83, up 59.70 points. The S&P 500 also erased earlier losses, closing 0.2% higher at 2,639.40.
Earlier, European stocks ended lower as fears of rising bond market yield overshadowed corporate results.
“Following the mixed performance in the US and Europe, the FBM KLCI could consolidate and hover sideways above the support of 1,830 points,” JF Apex said.