KUALA LUMPUR: Stocks to watch on Wednesday include Kossan Rubber Industries Bhd
, Green Ocean Corp Bhd, AT Systematization Bhd, Alam Maritim Resources Bhd, DRB-Hicom and Hartalega Holdings Bhd, according to JF Apex Research.
The research house also expect MPHB Capital Bhd, Aemulus Holdings Bhd, Dufu Technology Corp Bhd and Fraser & Neave Holdings Bhd (F&N) to see trading interest following their latest corporate news.
AT Systemization, Green Ocean and Kossan Rubber have denied a news report suggesting they were in a partnership to form a glove-making pact.
Alam Maritim has bagged a five-year contract from Repsol Oil & Gas Malaysia Ltd for the provision of subsea inspection, maintenance and repair services for PM3-CAA.
DRB-Hicom’s 51.1% owned Proton Holdings Bhd saw its vehicle sales surge to 13,216 units in July, representing an eight year high. July sales grew 37.3% month-on-month and 45.7% year-on-year.
Hartalega's 1QFY21 net profit jump 134% year-on-year to RM219.72mil from RM94.06mil, as revenue grew 43.87% year-on-year to RM920.09mil from RM640.1mil.
The better results were due to greater demand for rubber gloves, combined with higher average selling prices.
MPHB Capital is seeking Bank Negara Malaysia's (BNM) green light to start talks with Generali Asia on the divestment of its 51% stake in MPI Generali, who currently holds 49% of MPI Generali.
Aemulus has proposed to undertake a private placement of up to 54.94 million shares representing 10% of its total number of issued shares to third-party investors to be identified later.
Dufu Technology’s net profit for its 2QFY20 slipped 5.32% year-on-year, despite stronger revenue, due to a RM3.5mil unrealised forex loss and RM0.8mil in employee share option expenses.
F&N saw its 3QFY20 net earnings fall by 18.35% year-on-year due to lower sales, amid moderating consumer demand resultant of Covid-19.
Overnight, US markets rose after lawmakers mulled a new coronavirus stimulus package.
Earlier, European stocks ended mixed amid corporate earnings and positive manufacturing data.
JF Apex said the FBM KLCI could remain sideways with support at 1,550 points following the mixed performances in the US and Europe.