Trading ideas: BAT, Sasbadi, Pasukhas
KUALA LUMPUR: JF Apex expects BAT, Sasbadi, and Pasukhas to be among the stocks which could see trading interest on Wednesday following their corporate news.
BAT posted a 28.6% year-on-year fall to RM172.61mil in the first quarter, mainly due to weak volume performance. Also, the group declared a first interim dividend of 55 sen per share.
Sasbadi meanwhile saw a 20.4% decline in second quarter net profit to RM6.64mil on lower revenue from academic book publishing and increased staff headcount for capacity building. The group also announced that its application for a direct sales license has been approved by the Ministry of Domestic Trade, Co-operatives and Consumerism.
Separately, Pasukhas has been appointed as the exclusive agent to undertake sales and marketing for TBEA Hengyang Transformer Co Ltd and related services across Malaysia, Singapore, Brunei and Thailand for a period of one year.
While Vivocom has inked a heads of agreement for a RM90mil contract to construct a mixed development on a 3.11ha land in Hulu Kinta, Perak.
Also, Maybulk clinched a 15-year contract worth estimated RM563mil to transport coal for Tenaga Nasional Bhd.
US markets were mixed as the Dow and S&P posted slight gains while the Nasdaq declined after Apple shares dropped 1%. Similarly, European stocks were mixed as investors wait for the outcome of meetings of the US Federal Reserve today and Bank of Japan tomorrow.
On the local market, the FBM KLCI plunged 22.01 points to 1,692.50 points. “Following the mixed performance in the US and Europe, the FBM KLCI could consolidate above the support of 1,688 points,” the research house said in a note.