KUALA LUMPUR: JF Apex Research expects KNM Group Bhd , GD Express Carrier Bhd (GDex), WCT Holdings Bhd , Malakoff Corp Bhd, Hibiscus Petroleum Bhd and Press Metal Aluminium Holdings Bhd to be among the stocks to watch on Tuesday.
KNM has secured three contracts in Vietnam, Belgium and Johor worth approximately RM97.72mil combined.
GDex posted a net profit of RM5.43mil in the third quarter ended March 31, more than double the RM2.62mil it recorded the year before.
WCT net profit rose 8.8% to RM40.32mil in the first quarter ended March 31 against RM37.06mil a year ago on stronger contribution from property development and property
investment and management segments, despite a fall in revenue.
Malakoff’s net profit grew 26.6% to RM67mil for the first quarter ended March 31 from RM52.91mil a year ago. Its quarterly revenue expanded by 25% to RM2.007bil from RM1.6bil in 1QFY18, supported by higher applicable coal price during the quarter, which led to higher payments for its coal power plants.
Hibiscus net profit for the third quarter ended March 31 fell by 33.62% to RM55.18mil
from RM83.14mil on lower margins and losses for some of its segments.
Press Metal’s net profit declined 23.51% in the first quarter ended March 31, 2019 (1QFY20) to RM115.11mil against RM150.48mil a year ago.
Overnight, European stocks advanced following the outcome of EU elections while US markets were closed for Memorial Day holiday.
“Following the recent flattish trend, the FBM KLCI could extend its sideways movement below the resistance of 1,625 points in absence of a catalyst,” JF Apex said.