I guess WTK results will be bad follow TA ANN. Today cut loss WTK at 1.16.
Luckily my brokerage is cheap. Just Loss RM 35.
Business & Markets 2012
Written by Ho Wah Foon of theedgemalaysia.com
Thursday, 23 August 2012 18:39
KUALA LUMPUR (Aug 23) – The stock market on Friday, while will still be keeping track of corporate results, is likely to move sideways at current levels of 1650 to 1655.
“With no clear winner between the bulls and the bears, we expect the benchmark FBMKLCI index to continue moving sideways below its technical resistance of 1655,” said Lee Cherng Wee, analyst at JF Apex Research.
“On outlook, investors will welcome news of Germany's economic expansion after 2Q GDP of 0.3% came within expectation. Market direction will still be influenced by the balance between the concerns of euro debt crisis and potential stimulus package by governments,” he added in his comment given to theedgemalaysia.com.
Based on corporate results and news flows, the stocks to watch include QL RESOURCES BHD , UOA Development Bhd, MALAYSIAN BULK CARRIERS BHD , BHS INDUSTRIES BHD , SCOMI GROUP BHD , MALAYSIAN RESOURCES CORP oration Bhd (MRCB) and TA ANN HOLDINGS BHD .
QL Resources reported late Thursday that its net profit for the first quarter ended June 30, 2012, rose to RM31.42 million from RM27.79 million in the first quarter of previous financial year. Similarly, revenue rose to RM494.36 million from RM454.56 million.
Mid-cap property company UOA showed sterling performance. Its net profit for second quarter ended June 30, 2012, nearly doubled to RM104.97 million from RM59.78 million scored in similar quarter of previous financial year. Revenue also rose to RM197.46 million from RM173.33 million.
But Malaysia Bulk Carriers saw its net profit plunge for the second quarter to RM882,000 from RM21.88 million from a year ago. Similarly, revenue shrank to RM64.78 million from RM100.38 million.
Meanwhile, smaller firm BHS Industries saw its net profit for fourth quarter ended June 2012 rise to RM1.66 million, from RM0.95 million in previous comparative quarter. Revenue also increased to RM14.05 million from RM12.67 million.
With RAM Ratings’ announcement that it has downgraded the respective long-term ratings of MRCB Southern Link Bhd’s RM845 million Secured Senior Sukuk (2008/2025) and RM199 million Junior Sukuk (2008/2027) to BB3 (from A2) and C1 (from BBB2), MRCB may come under the scrutiny of investors.
SCOMI Group may also be closely followed after its announcement Thursday that a subsidiary has won a RM130 million drilling fluids service contract in Qatar. And Ta Ann, which came under selling pressure Thursday with its stock losing 20 sen to end at RM4.20 per unit, may also be followed after the EPF sold off 100,000 shares on August 16.