Trading ideas: Panasonic, Pecca, QL Resources, Tropicana, Taliworks

  • Business
  • Tuesday, 27 Nov 2018

KUALA LUMPUR: PANASONIC MANUFACTURING Malaysia Bhd, PECCA GROUP BHD, QL RESOURCES BHD, Tropicana Corp Bhd, Taliworks Corp Bhd and Coastal Contracts Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

Panasonic’s net profit grew 44.34% to RM34.13mil in the second quarter ended Sept 30, 2018 (2QFY19) from RM23.64mil due to higher revenue.

Its revenue of RM308.81mil, rose 11.27% increase, against RM277.53mil in 2QFY18.

Pecca’s net profit rose 24% to RM3.47mil in the first quarter ended Sept 30, 2018 (1QFY19)

from RM2.79mil a year earlier, on stronger contribution from its OEM, pre-delivery inspection (PDI) and replacement equipment manufacturer (REM) segments.

Tropicana’s net profit rose 10.5% to RM34.15mil in the third quarter ended Sept 30, 2018 (3QFY18) from RM30.91mil a year ago, mainly due to lower tax expenses.

QL Resources net profit grew 10.7% to RM60.52mil in the second financial quarter ended Sept 30, 2018 (2QFY19), from RM54.66mil last year.

Taliworks net profit almost doubled to RM19.68mil in the third quarter ended Sept 30, 2018 (3QFY18) from RM10.01mil a year ago, on higher contributions from the construction and water treatment, supply and distribution divisions.

On the other hand, JF Apex said IJM Corp, WCT, Telekom Malaysia and Petra Energy saw profit decline.

Meanwhile, US markets rallied overnight following rebound in technology counters and higher oil prices.

Similarly, European stocks jumped after the EU supports the UK Prime Minister's Brexit plan.

“Following the bullish performance in the US and Europe, the FBM KLCI is expected to climb today with resistance at 1,750 points,” JF Apex said.

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