Trading ideas: TM, Mulpha, Mudajaya, Petronas Chemicals, Kossan


  • Business
  • Monday, 19 Nov 2018

KUALA LUMPUR: TELEKOM MALAYSIA BHD, MULPHA INTERNATIONAL BHD, MUDAJAYA GROUP BHD, PETRONAS CHEMICALS GROUP BHD and Kossan Rubber Industries Bhd are among the stocks to watch on Monday, according to JF Apex Research.


Datuk Bazlan Osman has resigned as acting group chief executive officer of Telekom Malaysia (TM) with immediate effect and given notice of his intention to step down as executive director with effect from Feb 28, 2019.


Mulpha announced today it plans to distribute to its shareholders up to 90.33 million shares in Mudajaya, via a dividend-in-specie. Mulpha said the proposed dividend-in-specie is undertaken as an extension of its streamlining strategy where it gradually disposes of its non-core investments.


Petronas Chemicals saw its net profit jump 37.7% to RM1.26bil in the third quarter ended Sept 30, 2018 (3QFY18) from RM913mil a year ago, on higher revenue and supported by lower tax expenses and higher interest income.


Kossan Rubber Industries Bhd's net profit rose 18.5% to RM54.15mil in the third quarter ended Sept 30, 2018 from RM45.68mil a year ago, on improved performance in the gloves division.


APM, Lafarge and Mah Sing saw quarterly earnings decline, and external auditors of DBE Gurney resigned.


Meanwhile, US markets ended flat on Friday amid losses in technology counters while European stocks closed lower following concerns on Brexit.


“Following the mixed performance in the US and Europe, the FBM KLCI is expected to trend sideways below the immediate resistance of 1,710 points,” JF Apex said.



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