KUALA LUMPUR: Stocks to watch on Monday include Dutch Lady Milk Industries Bhd, Kim Hin Joo (M) Bhd, AT Systemisation Bhd, MyNews Holdings Bhd, Leong Hup International Bhd, APM Automotive Holdings Bhd and IJM Corp Bhd, according to JF Apex Research.
AT Systematization is acquiring industrial glove maker Pearl Glove Sdn Bhd (PGSB) for RM22mil cash.
MRCB’s net profit more than tripled to RM15.65mil in 1QFY20, from RM4.14mil a year ago, mainly due to higher contribution from its property and investment segment.
Dutch Lady’s net profit tumbled 33.02% to RM22.73mil in 1QFY20 from RM33.9mil a year earlier, on lower revenue and amid higher dairy raw material prices.
Kim Hin Joo, a leading retailer of baby, children’s and maternity products in Malaysia through its Mothercare outlets, has ventured into the toys sector by opening The Entertainer, a UK retailer, in Sunway Pyramid.
Mynews posted a net loss of RM2.33mil for 2QFY20, compared with a net profit of RM7.95mil in the previous corresponding quarter.
Leong Hup International expects to record revenue growth of RM500mil per year for The Baker’s Cottage (TBC) by 2024. The group plans to expand TBC’s store network abroad going forward.
APM Automotive’s unit in Indonesia is teaming up with Hyundai Motor Company to manufacture and supply automobile seats and related components.
IJM Corp’s 4QFY20 earnings fell 70.4% year-on-year, dragged by lower profits across four divisions namely property development, manufacturing and quarrying, plantation and infrastructure.
Meanwhile, US markets plunged over 2% on Friday after the latest spike in coronavirus cases that could derail the economic recovery.
Earlier, European stocks declined following concerns of a second wave of coronavirus.
JF Apex said following the bearish performances in the US and Europe, the FBM KLCI could trend lower towards the support of 1,460 points.