KUALA LUMPUR: JF Apex Research expects Hengyuan Refining Company Bhd, Magnum Bhd, Berjaya Sports Toto Bhd, YTL Corp, XOX Bhd, Green Packet Bhd and Boustead Heavy Industries Corp Bhd (BHIC) to be among the stocks to watch on Wednesday.
Hengyuan posted a net loss of RM124.12mil for its 1QFY20, from a net profit of RM21.57mil a year ago, as it was impacted by low refining margins following a sudden drop in global oil prices, while demand was impacted by the pandemic outbreak.
Magnum and Berjaya Toto are in the limelight as Number forecast operators (NFOs) resume operations today after shutting their doors for more than three months since the Movement Control Order (MCO) was implemented on March 18.
YTL Corp's 3QFY20 net profit dropped 66% year-on-year mainly due to the impact of the Covid-19 pandemic which affected some of its business segments such as hotels.
XOX has teamed up with DGB Networks Sdn Bhd to form a 50:50 net profit sharing partnership for the media management and advertising platform that will result from the national deployment of DGB Networks' next generation artificial intelligence (AI) vending machines.
Green Packet is buying Singapore-based e-KYC (Electronic Know Your Customer) specialist firm Xendity Pte Ltd for US$10mil.
This will enable the group to strengthen its digital identity verification services, a fast-growing sector as more organisations move towards their digital transformation.
BHIC’s indirect subsidiary has been awarded a contract worth RM154.3mil from the Ministry of Defence (Mindef).
Allianz Malaysia's 1QFY20 net profit fell 19.63% year-on-year, due to a swing from investment-related gains to losses.
KNM has landed a RM73.09mil contract to supply a heat exchanger for a petrochemical project in China.
Genting Malaysia announced that the casino and hotel operator's Resorts World Kijal and Resorts World Langkawi will reopen on coming Thursday.
However, Resorts World Genting and Resorts World Awana will remain closed until further notice.
Meanwhile, US markets climbed overnight after higher retail sales in May and the government's plan for a US$1 trillion infrastructure bill.
Earlier, European stocks advanced following the Federal Reserve's stimulus and a new coronavirus drug was discovered.
“Following the positive performances in the US and Europe, the FBM KLCI could climb towards the resistance of 1,550 points,” JF Apex said.
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