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KUALA LUMPUR: JF Apex Research expects Malaysian Resources Corportion Bhd (MRCB), Oriental Food Industries, Scomi, Alam Maritim and Perdana Petroleum to be among the stocks which could be on investors’ radar screen on Friday after the slew of results.

It said MRCB’s 1QFY15 net profit surged 20 times on-year following the completion of the sale of Platinum Sentral and higher topline contribution from all of its business units.

Oriental Food Industries proposed a bonus issue of 60 million new shares on a one-for-one basis.

JF Apex Research said Scomi returned to the black in its 4QFY15 results with a net profit of RM22.75 million due to the turnaround in its transport solutions division.

As for Alam Maritim, the group’s 1QFY15 net profit fell 45% on-year on lower average utilisation rate of offshore support vessels (OSV) and lower revenue from the offshore installation & construction (OIC) segment.

Perdana Petroleum's 1QFY15 net profit plunged 60.8% on-year mainly due to lower vessel utilisation resulting from slower work orders/contracts from oil majors which had been affected by the decline in crude oil prices.

The research house said  Econpile bagged a RM26.7mil piling and substructure contract for a commercial development in Petaling Jaya.

Overnight on Wall Street, US markets closed higher with the Nasdaq ending near record high levels.

Similarly, European stocks climbed following stronger Euro and European Central Bank's minutes of meeting indicating continuous quantitative easing.

At Bursa Malaysia on Thursday, the FBM KLCI tumbled 15.07 points to 1,795.04.

“Following the bullish performance in the US, the KLCI might stage a rebound with support seen at 1,780. Investors will be eyeing Bank on Japan's monetary policy decision after its meeting today,” it said.

http://www.thestar.com.my
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