KUALA LUMPUR: JF Apex Research expects Destini Bhd, AirAsia X Bhd (AAX), UMW Holdings Bhd, Inari Amerton Bhd, Serba Dinamik Holdings Bhd and Telekom Malaysia Bhd (TM) to be among the stocks to watch on Wednesday.
Destini has clinched a two-year oil and gas contract to provide a tubular running services in Pakistan, worth US$8mil (RM31.76mil).
The research house said AAX, UMW, Inari, Serba Dinamik, Tropicana, Taliworks posted better year-on-year quarterly net profits whilst TM, Axiata, Hua Yang, Lafarge recorded weaker year-on-year net earnings.
AAX net profit rose to RM41.5mil in the first quarter ended March 31, 2018 (1QFY18) from RM10.34mil a year ago.
Inari announced a 7.8% growth in net profit for its third quarter ended March 31, 2018 (3QFY18) at RM55.17mil from RM51.18mil a year ago.
Serba Dinamik’s net profit for the 1QFY18 ended March 31, 2018 grew 18.2% year-on-year to RM92.65mil from RM78.33mil.
TM‘s first quarter net profit dropped 32% to RM157.16mil from RM230.43mil a year earlier.
Meanwhile, US markets declined overnight after President Trump is not satisfied with China trade talks and doubts the summit with North Korea would take place.
The Dow Jones industrial average fell 178.88 points to close at 24,834.41 while the S&P 500 declined 0.3% to 2,724.44.
Earlier, European stocks climbed with gains from automotive counters after China said it would cut import duty on passenger cars.
“Following the mixed performance in the US and Europe, the FBM KLCI could remain lacklustre and trend lower towards the support of 1,800 points,” JF Apex said.
Did you find this article insightful?