KUALA LUMPUR: SapuraKencana Petroleum Bhd, DRB-Hicom Bhd, VS Industry Bhd, Yinson Holdings Bhd and Gamuda Bhd could see trading action on Thursday after their corporate news, says JF Apex Research.
It said SapuraKencana's 2QFY17 net profit grew 8% on-year to RM112.27mil on-year in the absence of oil and gas (O&G) property impairment provision and as operating income rose.
DRB-Hicom announced that five candidates have been shortlisted as potential collaborator to turn around Proton Holdings Bhd. A final decision is expected to be made before mid-2017.
JF Apex Research pointed out VS Industry’s 4QFY16 net profit tumbled 79.2% on-year to RM10.94mil due to impairment losses.
Yinson's 2QFY17 net profit fell 23% on-year to RM60.3mil due to lower other operating income and higher administrative expenses.
As for Gamuda, its 4QFY16 net profit remained largely flat at RM152.1mil compared with RM153.68mil a year ago, thanks to cost-savings recognised from the completion of MRT1.
JF Apex Research said US markets rallied overnight following gains in oil prices after Opecagreed to limit oil production. Earlier, European stocks climbed led by rebound in Deutsche Bank shares and gains in basic resources counters.
At Bursa, the FBM KLCI eked out just 0.24 of a point to 1,664.96. Following the bullish performance in the US led by oil prices, the KLCI is expected to be positive and climb towards the resistance of 1,675.
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