KUALA LUMPUR: Stocks to watch on Thursday include AirAsia Group Bhd, Titijaya Land Bhd, Unisem (M) Bhd, Bina Puri Holdings Bhd, Pensonic Holdings Bhd and Netx Holdings Bhd, according to JF Apex Research.
The research house also expects Lotte Chemical Titan Holdings Bhd (LCT), Sapura Energy Bhd and Marine and Heavy Engineering Holdings Bhd (MHB) to see trading interest following their latest quarterly results.
AirAsia resumes its scheduled domestic flights in Malaysia from today, which will be followed by Thailand tomorrow, Indonesia on May 7 and the Philippines on May 16, subject to approval from the authorities.
Titijaya Land has inked a five-year agreement with a Chinese state-owned medical equipment manufacturer to develop a business that will be involved in the trading and distribution of medical and hospital equipment, as well as medical industry-related real estate.
Unisem posted a net loss of RM2.82mil for its 1QFY20, compared with a net profit of RM6.05mil in the corresponding quarter last year, no thanks to lower revenue, higher interest expenses, and tax provisions.
Bina Puri has teamed up with Key Alliance Group to develop building information systems (BIS) for companies in the construction sector.
Pensonic posted a net profit of RM5.08mil in its 3QFY20, against a net loss of RM968,000 in the same quarter a year ago on higher revenue and gain from disposal of property, plant and equipment in the current financial quarter.
NetX Holdings is teaming up with Australian financial services provider Finexia Securities Ltd to introduce, promote and operate a point-to-point currency exchange digital platform that NetX developed, which comes with an in-built e-wallet function, in Australia.
Lotte Chemical Titan sank into the red in its 1QFY20 with a net loss of RM170.06mil, compared with a net profit of RM55.83mil a year ago, no thanks to margin squeeze and an increase in write-down of inventories.
Sapura Energy incurred 4QFY20 net loss of RM4.23 billion which was widened from RM2.23bil a year earlier, as revenue fell and the oil and gas (O&G) support services firm made asset impairment provisions.
Malaysia Marine and Heavy Engineering successfully posted a 1QFY20 net profit of RM6.13mil from a loss of RM29.37mil last year. However, the group warns of impairment risk ahead.
Eversendai has inked a memorandum of understanding (MoU) with Hyundai Engineering & Construction Co Ltd (Hyundai E&C) as global strategic partners in modular construction work for the construction and energy industries.
Meanwhile, US markets surged overnight after the Federal Reserve said it is ready to bolster its unprecedented array of stimulus measures which is already in force.
Earlier, European stock advanced after positive developments in trials of the remdesivir drug for Covid-19 treatment.
“Following the positive performances in the US and Europe, the FBM KLCI could climb towards its resistance level of 1,415 points,” JF Apex said.
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