KUALA LUMPUR: Stocks in focus on Wednesday include Dutch Lady, Dialog Hektar REIT, Teo Seng, Maybulk, Minetech Resources and Scomi, said Apex Research.
Milk Industries Bhd’s as its net profit in 3Q22 rose 19.74% YoY to RM24.4 million.
Dialog Group Bhd’s net profit for 1QFY23 slipped 2.35% YoY to RM125.79 million.
Hektar REIT’s 3Q22 net property income (NPI) rose 77.2% YoY to RM18.31 million.
Teo Seng Capital Bhd’s net profit plunged 77.34% YoY to RM516,000 in 3Q22,
Maybulk has cancelled its plan to diversify into the grocery retail business.
Minetech Resources Bhd has signed an original equipment manufacturing agreement with Cretpaver Asia Sdn Bhd (CASB) to manufacture and trade bituminous products, with an estimated contract value of RM10 million per year.
SCOMI GROUP BHD announced that its proposed scheme of arrangement has been approved by the majority of its creditors.
Meanwhile, Apex said the FBM KLCI could climb towards the resistance of 1,462 points following the rebound on Wall Street.
The US market rallied overnight after a lower-than-expected producer price index suggests inflation has peaked.
Similarly, European stocks advanced after slower US inflation could prompt the US Federal Reserve to ease interest rate hikes.