KUALA LUMPUR: Dutch Lady Milk Industries Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Vitrox Corp Bhd, ATLAN HOLDINGS BHD, Nestlé Malaysia Bhd and Petronas Dagangan Bhd are among the stocks to watch, according to JF Apex Research.
Dutch Lady’s net profit declined 0.96% to RM33.9mil in the first quarter ended March 31, 2019 (1QFY19) from RM34.23mil a year earlier on lower revenue and amid higher advertising and promotional spend.
Syarikat Takaful saw net profit grow by 37.82% to RM96.44mil from RM69.98mil in its first quarter ended March 31, 2019 (1QFY19), on higher net Wakalah fee income arising from business growth in its family takaful segment.
Vitrox has posted a 17% year-on-year increase in net profit to RM23.62mil in the first quarter ended March 31, 2019 (1QFY19) on the back of a 15% rise in revenue.
Alam Maritim’s wholly-owned subsidiary Alam Maritim (M) Sdn Bhd has bagged a RM2.32mil service order contract from FPSO Ventures Sdn Bhd.
Nestlé Malaysia Bhd, Malaysia's largest food and beverage company, has budgeted RM220mil capital expenditure (capex) for this year. The amount of capex allocated is the highest in five years, says chief executive officer Juan Aranols.
Petronas Dagangan increased its capital expenditure (capex) allocation to about RM500mil for financial year ending Dec 31, 2019 (FY19) from some RM300mil in FY18, to refurbish existing petrol stations and Mesra convenience stores.
Meanwhile, US markets tumbled overnight following disappointing corporate earnings.
Earlier, European stocks declined after lower quarterly results and merger talks between Germany's top two banks are called off.
“Following the negative performance in the US and Europe, the FBM KLCI could decline with support at 1,615 points,” JF Apex said.
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