Trading ideas: Serba Dinamik, Premier Nalfin, Ajiya and CCK – Business News

KUALA LUMPUR: JF Apex Research expects Serba Dinamik, Premier Nalfin, Ajiya and CCK to be among the stocks which could see trading interest on Wednesday after the release of the earnings and announcements.

Oil and gas services-related Serba Dinamik bagged RM522.92mil worth of operations and maintenance (O&M) contracts across Malaysia and the United Arab Emirates.

 As for Premier Nalfin, it has proposed a cash distribution of 30 sen per share to its shareholders under a capital reduction and repayment exercise, with RM101.1mil to be distributed; 

Ajiya’s 2QFY17 net profit surged nearly five times on-year, on higher foreign currency translation gain. Its quarterly revenue, however, fell 11% on-year due to weak market conditions and stiff competition in the construction sector.

CCK said a fire has damaged the fish ball production line at its subsidiary’s factory in Kuching. Production is expected to resume in one to two months.

JF Apex Research pointed out US markets ended higher overnight with the S&P hitting a record high lifted by better-than-expected quarterly earnings. 

Earlier, European stocks advanced following gains in commodity and banking counters as well as unexpected increase in German business confidence.
 
At Bursa, the FBM KLCI added 1.35 points to 1,763.34 after coming off an intra-day high of 1,766.47. 

Following the bullish performance in the US and Europe, the KLCI could extend its rebound towards the resistance of 1,770, said JF Apex Research.

 

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