KUALA LUMPUR: JF Apex Research expects Digi, Sunway REIT, Dialog and MISC to be among the stocks to watch on Wednesday following their corporate news.

DiGi is setting up two Murabahah sukuk programmes with a combined limit of RM5bil in nominal value to raise funds for capital expenditure and working capital.

As for Sunway REIT, it announced a lower distribution of 2.28 sen per unit in the 2QFY17, down 11.3% on-year from the 2.57 sen per unit due to cessation of manager's fee payable in units, effective financial year 2017.

Sunway REIT's lower distribution was in tandem with lower net property income for the quarter, which came in 3.1% lower against a year ago, with net realised income sliding 8.8% on-year.

Dialog’s 2QFY17 net profit rose 17.1% on-year to RM91.36mil, mainly due to higher contributions from the group’s joint ventures (JVs). Dialog said these JVs include the Pengerang Independent Terminals, which fully leased out its storage capacity and secured better storage rates.

MISC's unit Gumusut-Kakap Semi-Floating Production System (L) Ltd (GKL) was awarded US$254.45mil (RM1.13bil), after it obtained an adjudication decision in its favour in its case against Sabah Shell Petroleum Co Ltd.

Overnight on Wall Street, US markets advanced overnight and extended their all-time highs after remark by the Federal Reserve Chair Janet Yellen that supports an interest rate hike.

Earlier, European stocks ended mixed amid corporate earnings announcements.

On the local market, the FBM KLCI shed 1.34 points to 1,708.90.

“Following its recent positive momentum, the FBM KLCI could rise towards its resistance of 1,730,” it said.

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