Stocks to watch:Formis, Kencana, Glomac,

KUALA LUMPUR: Sentiment on Bursa Malaysia should pick up on Thursday, Sept 22, based on the positive corporate newsflow but again this would hinge on external events including comments from the Federal Reserve.

Stocks to watch on Thursday are FORMIS RESOURCES BHD [], KENCANA PETROLEUM BHD [], SAPURACREST PETROLEUM BHD [], GLOMAC BHD [], AHMAD ZAKI RESOURCES BHD [] (AZRB) and TA ENTERPRISE BHD [].

Formis’s unit has secured a RM53.75 million contract from Fibrecomm Network (M) Sdn Bhd for the next generation dense wavelength division multiplexing systems.

Its unit, Formis Network Services Sdn Bhd would supply engineering services, operation and maintenance of the NGDWDM systems, spares and accessories for the third route from Padang Besar to Menara Ansar in Johor Baru.

Kencana’s earnings rose 53% to RM63.72 million in the fourth quarter ended July 31 from RM41.47 million a year ago due to higher progress achieved for contracts. The 4Q revenue increased at a stronger pace of 77.5% to RM493.72 million from RM278.18 million.

For the financial year ended July 31, its net profit rose 63.8% to RM223.11 million from RM136.16 million. Its revenue increased by 43.2% to RM1.56 billion from RM1.09 billion.

SapuraCrest’s earnings rose 46.9% to RM78.23 million in the second quarter ended July 31 from RM53.24 million a year. Revenue, however, fell 22.1% to RM699.39 million from RM898.11 million.

For the first half, net profit rose 44.8% to RM150.57 million from RM103.93 million but revenue declined 20.2% to RM1.25 billion from RM1.568 billion.

Glomac Bhd posted net profit of RM17.87 million in the first quarter ended July 31, 2011, which a 14.9% increase from the RM15.55 million a year ago, putting the property company on a firm footing for its current financial year.

Its revenue increased a marginal 1.2% to RM127.83 million from RM126.31 million from a year ago due to its a mix of recent and on-going project launches. Earnings per share were 6.10 sen compared with 5.32 sen.

Revenue was a marginal 1.2% increase to RM845.81 million from RM835.39 million. Earnings per sharea were 6.89 sen compared with 4.78 sen. It declared an interim dividend of 8.0 sen.

AZRB has secured a 25-year concession to build and manage the International Islamic University Malaysia (IIUM) teaching hospital in Kuantan, Pahang via a private finance initiative. The total CONSTRUCTION [] cost for teaching hospital was RM412.62 million

TA Enterprise’s earnings soared 151.3% to RM26.24 million in the second quarter ended July 31, 2011 from RM10.43 million a year ago, boosted by higher contribution from its property arm, TA Global Group. Its revenue rose 8.6% to RM156.00 million from RM143.56 million. Earnings per share were 1.53 sen compared with 0.61 sen.