KUALA LUMPUR: Stocks to watch on Thursday include Kuala Lumpur Kepong Bhd, MR DIY Group (M) Bhd, Uzma Bhd and MGB Bhd, according to JF Apex Research. KLK posted a net profit of RM357.41mil in its first quarter ended Dec 31, 2020, more than double the RM167.2mil it recorded in the previous year’s corresponding quarter, driven by a jump in plantation earnings as underpinned by higher selling prices for CPO and palm kernel. Mr DIY posted a 19% increase in net profit to RM108.27mil for its fourth quarter ended Dec 31, 2020, from RM90.89mil in the previous year’s corresponding quarter. The group attributed the increase in revenue to a rise in average monthly sales per store, as well as sales contribution from the 141 net new stores added during the year. Uzma has bagged two licences from the Energy Commission to import liquefied natural gas (LNG) for regasification in the country, as well as to transport or distribute natural gas within Malaysia. MGB has bagged a RM442.81mil contract to construct affordable home projects in Dengkil and Ijok in Selangor. Both projects were awarded by the subsidiaries of LBS Bina. LBS also owns the majority of MGB shares. Overnight, US markets ended mixed overnight with the Dow edging to a new record high while the S&P and Nasdaq declined after improvement in retail sales and producer prices. Earlier, European stocks declined as the US 10-year treasury yields rose to a 1-year high. “Following the mixed performance in Wall Street, the FBM KLCI could continue to hover sideways below the resistance of 1,615 points,” JF Apex said.
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