Trading ideas: Matrix Concepts, Ahmad Zaki, Ranhill, Heineken, D&O, IOI

KUALA LUMPUR: MATRIX CONCEPTS HOLDINGS BHD, AHMAD ZAKI RESOURCES BHD, RANHILL HOLDINGS BHD, HEINEKEN MALAYSIA BHD, D&O Green Technologies Bhd and IOI Corp Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

Matrix Concepts posted a 31% year-on-year fall in its 3QFY19 net profit as its product mix during the quarter comprised more affordably-priced residential units compared to that which had a significant contribution from industrial properties that fetched better margins last year.

Ahmad Zaki has secured RM150.5mil worth of projects, which include the proposed refurbishment and upgrading of Petronas office and operation complexes in Kertih, Terengganu.

Ranhill announced that it intends to partner with Thai-based Treasure Specialty Co Ltd to export electricity from Kedah to Thailand. The duo are working out a proposal for a 1,150MW combined cycle gas turbine power plant in Kedah.

Heineken's 4QFY18 net profit grew 6.79% year-on-year due to higher revenue, and efficient and effective management of commercial spend and overheads.

D&O almost doubled its 4QFY18 net profit RM12.33mil against RM6.94mil in the previous corresponding quarter, on the back of higher revenue and better gross profit margins.

IOI's 2QFY19 net profit down 67% year-on-year no thanks to lower contribution from the plantation segment, coupled with net foreign currency translation loss on its foreign-currency denominated borrowings and deposits.

Meanwhile, US markets rose overnight after the Federal Reserve released its minutes of last month's meeting.

Earlier, European stocks advanced on hopes that the US and China would ink a trade deal.

“Following the bullish performance in the US and Europe, the FBM KLCI could extend its positive momentum towards the resistance of 1,740 points,” JF Apex said.


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