Suncon

KUALA LUMPUR: JF Apex Research expects Sunway Construction, Salcon, JAKS Resources, UMW OG and to be among the stocks which could attracting trading interest on Tuesday after their corporate news. 

Other stocks which are in focus include Alliance Financial Group (AFG), AMMB and Nestle. 

Sunway Construction clinched the RM268mil construction contract for the proposed new campus of the International School of Kuala Lumpur in Ampang. 

Salcon has secured a RM66.78mil subcontract for the Langat Centralised Sewage Treatment Plant project from MMC Corp Bhd. 

JAKS Resources's 2QFY16 net profit surged more than three times on-year to RM9.83mil, boosted by higher profit from construction division and the trading and manufacturing divisions. 

UMW OG  posted a net loss of RM67.25mil in its 2QFY16, compared with a net profit of RM4.46mil a year ago, due to prolonged oil and gas sector downturn. 

Alliance Financial Group’s earnings rose 8.65% in its1QFY17, driven by higher interest income. 

AMMB, the group saw its 1QFY17 net profit slip 4.86% on-year, mainly due to higher other operating expenses, decrease in net interest income and Islamic banking business. 

Nestle’s 2QFY16 earnings grew 52.4% on-year, thanks to a lower effective tax rate, as well as a combination of higher turnover, favourable price trends in key raw materials and improved efficiency. 

Overnight on Wall Street, US markets closed lower led by energy counters following lower oil prices. European stocks posted losses due to falling oil prices and mining counters. 

 At Bursa, the FBM KLCI gained 3.39 points to close at 1,691.07.  

“Following the overnight bearish performance in the US and Europe, the FBM KLCI could suffer further pressure and remain below the resistance of 1,705. Immediate support is seen at 1,650,” it said.