KUALA LUMPUR: Stocks with recent corporate news flow that could attract investor interest include Tenaga Nasional, Hartalega , Yinson , Supermax, F&N and YTL Power, according to JF Apex Research.
Tenaga Nasional confirmed that the High Court has allowed with cost the government-controlled utility's judicial review application to set aside or invalidate the Inland Revenue Board's notice of additional assessment for tax amounting to RM1.81bil for 2018.
Hartalega reported a 74.6% decline in net profit to RM259.06 million for its third quarter ended Dec 31, 2021, from RM1bil a year prior, due to the normalisation of ASP and sales volume as demand dipped amid an increase in supply by major and new glove entrants.
Yinson said the final acceptance of the group's estimated US$5.2bil (RM21.7bil) floating production storage and offloading (FPSO) contracts with Brazil national oil company Petrobras is expected to take place in the fourth quarter of 2024 and that the FPSO, which will be based offshore Brazil, is expected to commence operations upon achieving final acceptance.
Supermax has expanded its remediation plan to include former direct hire and contract workers who left the company before Oct 1, 2019.
The group has recently rolled out a new and comprehensive policy to strengthen its human resource management and migrant worker policies and practices; F&N's net profit dropped 32% to RM92.95mil from RM136.81mil a year prior caused by higher raw material costs on top of the estimated loss of RM41.5mil caused by flash floods and foreign exchange loss.
YTL Power is disposing of its entire 33.5% equity interest in Australia's ElectraNet Pty Ltd for A$1.03 billion (RM3.06bil), as the group looks to realise gains from the two-decade-old investment.
Meanwhile, JF Apex Research says the FBM KLCI could rebound following a positive performance on Wall Street. The index ended 0.56 point lower at 1,530.09 in the previous session.
US markets surged overnight amid strong corporate earnings and expectation fn Thursday's CPI annoucement.
European stocks ended mixed after a string of quarterly results.