KUALA LUMPUR: JF Apex Research expects PLB Engineering Bhd
, Rhone Ma Holdings Bhd, Axiata Group Bhd and Telekom Malaysia Bhd to be among the stocks to watch on Monday.
PLB Engineering has signed a conditional joint development agreement (JDA) with the Penang State Government and its development arm to undertake rehabilitation works for the Jelutong dumpsite along Lebuhraya Tun Dr Lim Chong Eu in Penang in exchange for three-fourths of the rehabilitated land.
Rhone Ma is acquiring a 49% stake each in three companies for RM7.84mil to expand its footprint in the ruminant segment and to participate in the business of dairy farming
The research house noted that Axiata, Kossan Rubber Industries Bhd and Kumpulan Powernet Bhd posted higher year-on-year quarterly profits
On the other hand, Telekom Malaysia, Dayang Enterprise Holdings Bhd, Heineken (M) Bhd and Pestech International Bhd posted lower year-on-year quarterly results.
TM posted a net loss of RM51.09mil in the fourth quarter ended Dec 31, 2019 against net profit of RM69.66mil a year earlier, on the back of lower revenue and fair value adjustment on medium-term notes issued by a subsidiary.
Axiata posted a net profit of RM332.56mil in the fourth quarter ended Dec 31, 2019 compared to net loss RM1.46bil a year earlier.
Meanwhile, US markets declined on Friday following renewed concerns on the coronavirus outbreak.
Earlier, European stocks retreated amid new cases of the coronavirus despite better-than-expected business and manufacturing activity.
“Following the bearish performances in the US and Europe, the FBM KLCI could remain pressured with support at 1,520 points,” JF Apex said.
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