Trading ideas: AWC, Hibiscus, MMC, Time, Tan Chong, Serba Dinamik

KUALA LUMPUR: AWC Bhd, HIBISCUS PETROLEUM BHD, MMC Corp Bhd, TIME DOTCOM BHD, TAN CHONG MOTOR HOLDINGS BHD, Serba Dinamik Holdings Bhd and Wah Seong Corp Bhd are among the stocks to watch, according to JF Apex Research.

The research house said AWC, Hibiscus,  MMC, Time dotcom, Tan Chong Motor, Serba Dinamik posted higher year-on-year quarterly results.

On the other hand, it said Wah Seong, Magnum, PPB, SD Property, PetDag, IHH, Protasco recorded lower year-on-year net earnings.  

AWC posted a 20% growth in net profit to RM6.07mil in the first quarter ended Sept 30, 2018 (1QFY19) from RM5.06mil a year ago.

Hibiscus’ net profit rose to RM100mil in its first quarter ended Sept 30, 2018 (1QFY19), from RM10.78mil posted a year ago.

MMC’s net profit doubled to RM38.94mil in the third quarter ended Sept 30, 2018 (3QFY18) from RM18.94mil a year ago.

Time’s third quarter net profit jumped 183.3% to RM79.98mil from RM28.23mil a year ago, due mainly to higher revenue and forex gains.

Wah Seong’s net profit fell 20.1% to RM24.49mil in the third quarter ended Sept 30, 2018 (3QFY18) from RM30.65mil a year ago, on lower contribution from the oil and gas segment.

Meanwhile, US markets continued its gains ahead of a high-stakes meeting between President Donald Trump and Chinese President Xi Jinping.

However, European stocks closed lower with trade concern.

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

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