Trading ideas: Yinson, BHIC, Shell Refining, Gas Malaysia, Bumi Armada
KUALA LUMPUR: JF Apex Research expects Yinson Holdings, BHIC, Shell refining, Gas Malaysia and Bumi Armada to see trading interest on Thursday.
Yinson Holdings’ associate company has been awarded three licences by Petronas while Boustead Heavy Industries Corp’s joint-venture company was awarded a €63.08mil contract.
The research house said Shell Refining Company posted net loss of RM199.8million in 3QFY14 due to stockholding losses as crude oil price fell.
As for Gas Malaysia, its 3QFY14 net profit rose 16.5% on-year to RM53.8mil on the back of higher volume of gas sold and upward revision of natural gas tariff.
JF Apex Research said as for Bumi Armada, the signing of the US$1.8bil FPSO has been delayed again.
“We suspect that the five-year contract is subject to renegotiation possibly due to lower oil prices,” it said.
Overnight on Wall Street, US stocks wavered as investors mulled the slowdown in Europe's economy and earnings from Macy's and other retailers. European shares closed sharply lower with investors shunning banking stocks after regulators announced penalties for the alleged manipulation of foreign exchange markets.
“On the local exchange, the FBM KLCI lost 8.87 points to close at 1,816.24. A mixed open is in store for Asian bourses today following a lack of strong cues from Wall Street and ahead of key economic data from China and Japan.
“We expect the KLCI to remain lacklustre with a negative bias above the support of 1,800,” it said.
http://www.thestar.com.my
KUALA LUMPUR: JF Apex Research expects Yinson Holdings, BHIC, Shell refining, Gas Malaysia and Bumi Armada to see trading interest on Thursday.
Yinson Holdings’ associate company has been awarded three licences by Petronas while Boustead Heavy Industries Corp’s joint-venture company was awarded a €63.08mil contract.
The research house said Shell Refining Company posted net loss of RM199.8million in 3QFY14 due to stockholding losses as crude oil price fell.
As for Gas Malaysia, its 3QFY14 net profit rose 16.5% on-year to RM53.8mil on the back of higher volume of gas sold and upward revision of natural gas tariff.
JF Apex Research said as for Bumi Armada, the signing of the US$1.8bil FPSO has been delayed again.
“We suspect that the five-year contract is subject to renegotiation possibly due to lower oil prices,” it said.
Overnight on Wall Street, US stocks wavered as investors mulled the slowdown in Europe's economy and earnings from Macy's and other retailers. European shares closed sharply lower with investors shunning banking stocks after regulators announced penalties for the alleged manipulation of foreign exchange markets.
“On the local exchange, the FBM KLCI lost 8.87 points to close at 1,816.24. A mixed open is in store for Asian bourses today following a lack of strong cues from Wall Street and ahead of key economic data from China and Japan.
“We expect the KLCI to remain lacklustre with a negative bias above the support of 1,800,” it said.
http://www.thestar.com.my
