Trading ideas: BHS, PetDag, Samchem, Mudajaya, Dialog

KUALA LUMPUR: BHS Industries, Petronas Dagangan, Samchem Holdings, Mudajaya Group and Dialog Group are among stocks to watch on Monday, according to JF Apex.

The research house said BHS has teamed up with Bau Palm Oil Mill Sdn Bhd, a company managed by Sarawak Land Consolidation and Rehabilation Authority (SALCRA), to construct a biogas plant and integrated wastewater treatment plant at SALCRA's palm oil mills.

Petronas Dagangan's net profit in 3QFY17 jumped three times year-on-year to RM761.73mil, on higher sales volume, better margins and a gain on the disposal of a subsidiary.

Samchem's net profit for 3QFY17 almost doubled year-on-year to RM6.31mil, mainly due to higher sales.

Mudajaya announced that it is withdrawing from RM810mil contract it was awarded last year by Consortium Zenith Construction Sdn Bhd for construction work in Penang over "uncertainties" of the project.

Dialog is going to lease two plots of land in Johor from Johor Corp (JCorp) for 30 years and buy a tank terminal facility from the Johor state investment corporation, to expand its tank terminal storage capacity and operations at Tanjung Langsat.

Meanwhile, US market ended flat on Friday as the Dow and S&P ended an eight-week winning streak following concerns that corporate tax cut could be delayed.

Earlier, European stocks declined as investors took profit from the recent corporate earnings season.

“Following the recent lacklustre performance, the FBM KLCI is expected to continue hovering below the resistance of 1,750 points in absence of any catalyst,” JF Apex said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Stories You'll Enjoy