Pmetal

KUALA LUMPUR: JF Apex Research expects Box-Pak, Press Metal, Dnex and MMS Ventures to be among the stocks which could see trading interest on Wednesday after their corporate news. 

Box-Pak's 2QFY16 net profit plunged 81% on-year, on higher material and operating costs and foreign currency translation losses. The company also plans to undertake a rights issue with free detachable warrants to raise up to RM120mil to expand its business in Malaysia and Myanmar, besides repaying short-term loans and to increase its working capital. 

Press Metal’s 2QFY16 net profit jumped nearly six times on-year to RM146.08mi on higher production output and a RM45mil insurance claim. 

Dnex’s 2QFY16 net profit surged nearly 23-fold on-year to RM89.5mil, thanks to its associate company, Ping Petroleum Ltd. 

MMS Ventures's 2QFY16 net profit rose 59.9% on-year to RM5.71mil due to higher sales of machines to light-emitting diode (LED) manufacturers, especially those from the smart devices and automotive industry. 

Malaysia Marine and Heavy Engineering has teamed up with Terengganu state government-linked Eastern Pacific Industrial Corp Bhd (EPIC) to provide world-class repair services of marine vessels such as dry docking repair, refit, refurbishment, maintenance and technical solutions at the ship repair facilities located in Kemaman, Terengganu. 

MyEG is preparing to launch the business of operating hostels for foreign workers. It had signed a three-year tenancy agreement to rent 512 accommodation units from the Malacca State Development Corp. 

V.S. Industry secured a US$82mil contract to manufacture a new model of coffee brewer from one of its existing key customers. 

Overnight on Wall Street, US markets pulled back from record highs after telecommunication counters dropped and investors wait for the release of the Federal Reserve's minutes of meeting. 

Similarly, European stocks declined despite gains in oil, mining counters and the Pound sterling. 

At Bursa, the FBM KLCI surged 9.56 points to 1,699.89 to extend its uptrend.  

“Following the decline in the US and European markets, the KLCI could fall back and hover below the resistance level of 1,705,” said JF Apex Research.