Trading ideas: DRB-Hicom, Dolphin International, KESM

KUALA LUMPUR: DRB-Hicom Bhd , Dolphin International Bhd , KESM industries Bhd are among the stocks to watch on Friday, according to JF Apex Research.

DRB-Hicom plans to swap its real estate including land and a golf resort in the Klang Valley for industrial land in Tebrau, Johor, and RM288.7mil cash with its controlling shareholder Tan Sri Syed Mokhtar Al-Bukhary.

The group expects to realise a net gain on disposal of about RM849.4mil from the asset swap deal.

Dolphin International has launched legal action against PT Himalaya Transmeka (PTHT), seeking 14.5 billion rupiah (RM4.11mil) in claims for additional expenses incurred due to delayed completion of mechanical and electrical work by PTHT.

KESM’s 2QFY18 net profit rose 12% year-on-year to RM11.18mil for the second quarter ended Jan 31, 2018 (2QFY18), from RM9.98mil in the previous year.

Quarterly revenue grew 10% year-on-year to RM91.47mil, from RM83.12mil in 2QFY17.

Meanwhile, US markets rose overnight led by consumer and utility counters as import tariffs on steel and aluminium imports excluded Canada and Mexico.

The S&P 500 closed 0.45% higher at 2,738.97, with utilities and consumer staples as the best-performing sector. The Dow Jones industrial average ended 93.85 points higher at 24,895.21.

Earlier, European stocks advanced after the European Central Bank kept interest rates unchanged.

“Following the improved market sentiment, the FBM KLCI could hover sideways above the 1840-point level. For the downside, support is seen at 1,800 points,” JF Apex said.

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