Trading ideas: SLP, Damansara Realty, Formosa Prosonic, Berjaya Land

KUALA LUMPUR: JF Apex Research expects SLP Resource, Damansara Realty and Formosa Prosonic to be among the stocks to watch on Monday.

Other stocks which could attract trading attention are Berjaya Land, MISC and Bumi Armada.

SLP Resource’s 3QFY15 net profit tripled to RM9.39mil on higher sales volume, higher end product mix of its flexible plastic packaging products and forex gains.

Damansara Realty is taking part in a public tender for a housing project under Project Perumahan Penjawat Awam 1Malaysia (PPA1M) at Putrajaya after it was issued an unusual market activity query by Bursa Securities. 

Formosa Prosonic’s 3QFY15’s net profit surged 127% to RM9.05mil on higher sales at its Malaysia operations. 

As for PUC Founder (MSC), it obtained Bursa Securities nod for its recent proposed rights issue of irredeemable convertible unsecured loan stock (ICULS) with warrants to raise RM127.59mil.

As for Berjaya Land, its US$2.4bil joint venture resort project in South Korea hit a snag while news reports stated MISC and Bumi Armada could be working together.

Last Friday, US markets closed mixed after improved employment growth. Similarly, European equities ended mixed as favourable US jobs data signaled a possible interest rate hike next month.
 
At Bursa Malaysia, the FBM KLCI shed 2.84 points to close at 1,685.70. 

“Following the sideways movement last week, we expect the KLCI to consolidate below the 1,700 threshold,” it said.