KUALA LUMPUR: JF Apex Research expects SUNWAY CONSTRUCTION GROUP BHD (SunCon), Pesona Metro Bhd, BOUSTEAD HOLDINGS BHD, Hup Seng Industries Bhd, HIBISCUS PETROLEUM BHD and KPJ Healthcare Bhd to be among the stocks to watch on Wednesday.
Sunway Construction has secured a contract from Tenaga Nasional Bhd to develop a campus on Jalan Bangsar for RM781.3mil.
Pesona Metro has bagged a contract worth RM408.8mil from MRCB for superstructure works for a mixed development in Seksyen 98.
Boustead Holdings is disposing of its Royale Chulan Bukit Bintang Hotel business to Singapore-based Hotel Royal Ltd for RM197mil.
Hup Seng’s 4QFY18 net profit fell 11.4% year-on-year as a result of higher cost of sales and poorer margins.
Hibiscus Petroleum's net profit for the second quarter ended Dec 31, 2018 jumped over four times or 354% year-on-year, on additional contribution from its recently-acquired North Sabah assets and higher production efficiency at its Anasuria Cluster in the UK.
KPJ Healthcare’s 4QFY18 net profit was down 12.47% year-on-year due to higher effective tax rate and losses from the discontinued Australian operations.
Meanwhile, US markets posted slight gains overnight after US President Donald Trump said he is willing extend the US-China trade talk March deadline.
Earlier, European stocks declined following anxiety over the US-China trade negotiations.
“Following the positive performance in the US, the FBM KLCI could extend its upward trend and test the resistance of 1,710 points,” JF Apex said.
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