Trading ideas: MISC, CCM, Masteel, Power Root, Sime Darby


KUALA LUMPUR: JF Apex Research expects MISC Bhd, Chemical Co of Malaysia Bhd (CCM), Malaysia Steel Works (KL) Bhd (Masteel), Power Root Bhd and Sime Darby Bhd to be among the stocks to watch on Monday.


MISC has secured a 10-year term charter contract to own and operate four specialist DP2 Suezmax size Shuttle Tankers from Petróleo Brasileiro SA (Petrobras).


JF Apex said CCM, Masteel posted better year-on-year quarterly net profits whilst Power Root, Brahim’s, Pestech, E&O, Sime Darby, Ann Joo, IHH, Perisai recorded weaker year-on-year net earnings.


CCM’s net profit rose 21.3% to RM9.98mil in the first quarter ended March 31, 2018 (1QFY18) from RM8.23mil a year ago.


Masteel saw a 25.8% increase in net profit for the first quarter ended March 31, 2018 to RM17.72mil, compared with RM14.08mil a year ago.


Power Root slipped into the red in its fourth quarter ended March 31, 2018 (4QFY18) with a net loss of RM9.51mil.


Sime Darby’s net profit fell 80.5% to RM135mil in the third quarter ended March 31, 2018 due to the impact from its Australian operations compared with RM692mil a year ago when there was additional interest income in the earlier period.


Meanwhile, US markets ended slightly lower after President Trump had earlier cancelled a summit with North Korea.


European stocks advanced amid political uncertainty in Italy and concerns on the US-North Korea summit.


“Following last week's rebound, the FBM KLCI could consolidate and hover below the resistance of 1,850 points,” JF Apex said.


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