KUALA LUMPUR: JF Apex Research expects Kulim (M) Bhd, Public Bank, Malaysia Airports (MAHB), Ancom and Hua Yang to see trading interest on Friday on the back of fresh corporate news.
It said Kulim, as it will distribute 78 sen per share from the proceeds of the sale of New Britain Palm Oil (NBPOL).
Public Bank’s third quarter earnings rose 13.8% on-year to RM1.2bil while Hua Yang’s net profit doubled to RM25.98mil.
JF Apex Research said MAHB will exercise its right of first refusal (ROFR) to acquire the 40% stake in Istanbul Sabiha Gokcen International Airport. Ancom’s earnings plunged 70% on year due to lower sales.
Overnight on Wall Street, US stocks surged, lifting the Dow industrials back into positive terrain for the year, as heavy-equipment maker Caterpillar boosted its profit outlook and an unexpected increase in euro-zone manufacturing eased worries about the global economy.
Similarly, European shares enjoyed a late-stage rally after better-than-expected economic data and in spite of worries over lackluster corporate earnings.
“On the local market, the FBM KLCI surged 14.46 points to 1,810.68. Following the bullish performance of US markets, we expect the KLCI to extend its gains and move towards its resistance of 1,830,” it said.
http://www.thestar.com.my/Business/Investing/2014/10/24/Trading-ideas-Kulim-Public-Bank-MAHB/?style=biz
