Wednesday News Highlights of KLCI

• JAKS Resources Bhd expects to clinch more packages in the Langat 2 water treatment plant project once the water restructuring process in the state is concluded.
   
• Sapura Kencana Petroleum Bhd saw its net profit for the second quarter ended July 31, 2015, plunge 76.65% to RM104.08 million, from RM445.8 million in the previous corresponding quarter, primarily due to its oil and gas (O&G) asset impairment provision.
   
• Damansara Realty Bhd is planning to set up a joint venture (JV) company with Japan’s Sumitomo Warehouse Co Ltd (SWC) to participate in downstream oil and gas operation in Pengerang Integrated Petroleum Complex (PIPC).
   
• Maybank Investment Bank (MaybankIB) believes that the repatriation of overseas profits and capital, as well as the reactivation of ValueCap will boost investors’ confidence on the local stock market.
   
• Fututech Bhd, which is acquiring two construction firms for RM458 million, is looking to raise some RM150 million from a proposed private placement of 100 million new Fututech shares.
   
• The Malaysian Palm Oil Board (MPOB) is focusing on promoting palm oil application in non-food products and health benefits in China to further support the growth of the Malaysian palm oil industry.
   
• Sunway Holdings Sdn Bhd (SunHoldings), a unit of Sunway Bhd, has entered into a second supplemental agreement to buy hardware and household product trader Winstar Trading Sdn Bhd (WTSB) for RM130.95mil.