KUALA LUMPUR: Stocks with recent corporate announcements that could see investor interest on Wednesday include Nestle Malaysia, Westports Holdings, United Plantations, Globetronics Technology, Kelington Group, Comintel Corp, KPower, Country Heights Holdings and Cycle & Carriage Bintang and Sime Darby Plantation, according to JF Apex Research.
Nestlé (Malaysia) Bhd’s net profit for 1Q22 grew 17.14% YoY to RM205.18mil.
Westports Holdings Bhd saw its net profit fall 27.1% YoY to RM151.85mil for 1Q22.
United Plantations Bhd's net profit declined 20% YoY to RM59.69mil in 1Q22.
Globetronics Technology Bhd’s net income fell 24.65% YoY to RM9.45mil for 1Q22.
Kelington Group Bhd has received a letter of intent for an onsite industrial gases supply scheme with an expected revenue of RM180mil over a 10-year period.
Comintel Corp Bhd has secured a subcontract valued at RM33.78mil relating to the construction of an office and training centre for a government department.
KPower Bhd has proposed to purchase the entire stake in hydro power plant developer One River Power for RM130 million to be paid in cash and issuance of new shares.
Country Heights Holdings Bhd (CHHB) intends to invest about RM250mil in capital expenditure for the next five years, following its partnership with JD.com.
Cycle & Carriage Bintang Bhd, saw its 1Q22 net profit more than double to RM8.55mil.
Sime Darby Plantation Bhd (SDP) has submitted a comprehensive report to the US Customs and Border Protection over forced labour claims.
Meanwhile, JF Apex said the FBM KLCI could remain under pressure with support at 1,575 points following the sell-off on Wall Street.
The US market plunged overnight on losses in technology stocks on fears of poort quarterly earnings.
Similarly, European stocks posted heavy losses following declines in banks, tech and automotive stocks as market sentiment continued to be affected by inflation, interest rates, slower growth and the war in Ukraine.