Trading Ideas: Kejuruteraan Asastera Bhd, Aeon Credit, Berjaya Food, OCR - Kejuruteraan Asastera Bhd, Aeon Credit Service (M) Bhd, Berjaya Food Bhd and O&C Resources Bhd (OCR) are among the stocks to watch on Thursday, according to JF Apex Research.
The research house also expects PUC and Yinson to attract trading interest today.
Kejuruteraan Asastera has bagged a RM14.5mil subcontract from Kerjaya Prospek (M) Sdn Bhd to undertake electrical and telephone services works for a luxury condominium project.
Aeon Credit was slapped with notices of additional taxes and penalties, amounting to RM96.82mil, by the Inland Revenue Board.
Berjaya Food saw a 15.5% year-on-year rise in its 2QFY18 net profit thanks to higher pre-tax profit recorded by Starbucks’ operations in Malaysia.
PUC marked its entry into the e-commerce market with the launch of its social marketing platform called "Presto", which aims to benefit shoppers and sellers with digital tools, creative rewards mechanism and cost-effective marketing solution
OCR announced a rise of 269% year-on-year in its 1QFY18 net profit thanks to increased profits from both the construction and property development divisions;
Yinson’s 3QFY18 net profit jumped 44.4% year-on-year, on higher contribution from its marine segment.
Meanwhile, US markets rallied to record highs overnight after the Federal Reserve raised interest rate and lifted its 2018 GDP outlook, as well as progress in tax reform.
Earlier, European stocks tumbled due to decline in utility counters.
JF Apex said the FBM KLCI has successfully breached the resistance of 1,730 level and could extend its rebound towards 1,750 points.
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