KUALA LUMPUR: Stocks to watch for on Wednesday include Sapura Energy
, Sasbadi, Kelington, Bina Puri, HeiTech Padu, K-One Technology and Axis REIT, according to JF Apex research.
Sapura Energy managed to raise about RM4bil from its rights issue exercise, although the rights issue of ordinary shares under the exercise was undersubscribed.
Sasbadi’s 1QFY19 net profit rose 84% y-o-y, thanks to higher revenue from its print division, and lower expenses.
Kelington has secured new orders worth RM64 million during the fourth quarter ended Dec 31, 2018. This lifts the total value of new orders secured in full year FY18 to RM424mil.
Bina Puri's joint venture with Tim Sekata Sdn Bhd has bagged an RM251.53mil contract to undertake sub-contract works for the electrified double track project from Gemas to Johor Baru.
HeiTech Padu has secured a Ministry of Health contract worth RM33.18mil for the supply, installation and commissioning of the Critical Care Information System (CCIS) in intensive care units of 11 hospitals for a period of three years.
K-One Technology has secured a manufacturing agreement with a new US customer to manufacture dental water flosser that it forecasts will generate sales of about RM10mil each year, for the first three years.
Axis REIT’s net property income (NPI) grew 50.3% yoy in the fourth quarter ended Dec 31, 2018, on higher realised property income.
At Tuesday's close, the FBM KLCI rose 9.9 points to 1,702.12 following a spike in the cosing minutes of trade.
"Following the bearish performance in the US and Europe, the FBM KLCI could trend lower below its resistance of 1,710 points," said JF Apex.
In US markets overnight, the Dow Jones Industrial Average snapped a four-day winning streak as the International Monetary Fund reduced its global growth forecast.
European markets followed suit, while UBS shares slid 3% following a disappointing earnings report.
The fresh economic fears also triggered a slide in US crude prices, falling 1.3% to US$52.57 a barrel.
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