KUALA LUMPUR: Stocks to watch for on Friday include CMMT, Pavilion REIT, Hextar, MMHE, MNC Wireless, ViTrox, Luxchem and Syarikat Takaful Malaysia, says JF Apex research.
CMMT’s 3QFY19 net property income fell 4.9% y-o-y, as revenue fell with lower rental and car park incomes while expenses climbed.
Pavilion REIT’s 3QFY19 net property income fell 3.3% yoy on higher electricity cost incurred.
Hextar has inked a distributor agreement with Sumitomo Chemical Vietnam Co Ltd for the latter to exclusively distribute Hextar’s Hallmark 150 SL herbicide in Vietnam.
MMHE has narrowed its loss to RM4.66 million for its 3QFY19 from RM22.72 million a year earlier, helped by positive contribution from its marine segment.
MNC Wireless said the Memorandum of Understanding it signed with Urban Setup Sdn Bhd to provide a mobile physical gold retail platform in Malaysia has been terminated.
ViTrox saw its 3QFY19 net profit halved to RM13.86 million from RM28.02 million in the year ago, due mainly to sales volume decline; Luxchem's 3QFY19 net profit fell 12.8% y-o-y, as it recorded lower sales in its trading segment.
Syarikat Takaful Malaysia saw its 3QFY19 net proft increase by 33.8% yoy mainly due to an increase in net wakalah fee income.
Overnight in US markets, the Dow Jones was slightly lower while the S&P500 and Nasdaq rose on corporate earnings announcements.
European markets were also up on quarterly results and the expected delay in Brexit.
JF Apex research maintained its forecast that the FBM KLCI could trend sideways above the support of 1,550 points.
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