Trading ideas: Deleum, PetGas, Southern Steel, Kossan, Guan Chong

KUALA LUMPUR: Deleum Bhd, Petronas Gas Bhd (PetGas), Southern Steel Bhd, Kossan Rubber Industries Bhd and Guan Chong Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

Deleum has bagged a three-year contract to provide gas lift valves and insert strings equipment, accessories and services to Petronas Carigali Sdn Bhd.

PetGas’ 4QFY18 net profit fell 34.7% yoy due to share of losses from a joint venture company, Kimanis Power Sdn Bhd (KPSB).

Southern Steel slipped into the red in its 2QFY19, posting a net loss of RM44.41mil compared to a net profit of RM69.96mil a year ago, on lower sales volume and selling prices.

Kossan recorded a 29.6% year-on-year increase in its 4QFY18 net profit attributable to improvements in all of its three divisions — gloves, technical rubber products, and clean room.

Guan Chong’s 4QFY18 net profit nearly doubled to RM63.02mil, up 92.6% from RM32.7mil last year, thanks to improved margins and higher revenue. The group also declared a special dividend of two sen per share for the FY18.

Meanwhile, European markets advanced overnight following optimism that the US-China trade deal can be concluded before the March deadline.

US markets were closed for Presidents' Day holiday.

JF Apex said the FBM KLCI could climb towards its resistance of 1,710 points following the positive performance in global markets.

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Deleum , Guan Chong , PetGas


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