KUALA LUMPUR: CIMB Group Holdings Bhd, Amway (M) Holdings Bhd, Kuala Lumpur Kepong Bhd(KLK) are some of the stocks which could see trading interest on Thursday after their quarterly results announcements yesterday, according to JF Apex Research.
The research house also expects Ta Ann Holdings Bhd, Boustead Plantations Bhd, Kian Joo Can Factory Bhd and IFCA MSC Bhd to generate some trading interest after their announcements.
CIMB posted a net profit of RM1.02bil for the 3QFY16, a 28% year-on-year rise, on higher net interest and non-interest income coupled with gain from the sale of CIMB's stake in PT CIMB Sun Life.
JF Apex said Amway’'s 3QFY16 net profit rose 61% yoy driven by higher sales;while KLK saw its 4QFY16 net profit more than double to RM375.06mil from a year ago, driven by its plantation segment.
Ta Ann’s 3QFY16 net income down 22.8% year-on-year, dragged down by lower average selling price of plywood products.
Boustead Plantations’ 3QFY16 net profit increased 58.1% year-on-year to RM37.36mil, underpinned by better palm product prices and lower operating expenditure which compensated for shortfalls in fresh fruit bunch production.
Kian Joo’s 3QFY16 net profit increased by 14.9% yoy to RM50.8mil on the back of higher revenue for its aluminium cans division.
IFCA’s 3QFY16 net profit plunged 90.1% year-on-ear, as revenue and other income turned weaker, while incurring higher provision for amortisation.
Meanwhile, US markets were mixed with the Dow ending its 7-day winning streak after financial counters dropped over 1% while Nasdaq posted gains.
European stocks declined amid ongoing concern on Donald Trump's economic policies and next month's US Federal Reserve meeting.
“Following the bearish performance in the US and Europe, the FBM KLCI could consolidate and hover above the support of 1,610 points,” JF Apex said.