Trading ideas: Dayang, Kossan, MISC, Hengyuan, PetChem, MPI

  • Business
  • Monday, 27 May 2019

KUALA LUMPUR: DAYANG ENTERPRISE HOLDINGS BHD, MISC BHD, Kossan Rubber Industries Bhd, HENGYUAN REFINING Co Bhd, Petronas Chemicals Bhd and Malaysian Pacific Industries (MPI) are among the stocks to watch on Monday, according to JF Apex Research.

Dayang has won a contract to provide procurement, construction, installation, hook-up and commissioning services for Roc Oil (Sarawak) Sdn Bhd.

The services will be provided under Roc’s Siprod (Simultaneous Production and Drilling) and Infill Drilling Campaign from 2019 to 2023.

The research house noted that MISC, Kossan, E&O, MFM, TIME dotcom, EITA RESOURCES, Wellcall posted better year-on-year results.

On the other hand, Hengyuan, PetChem, MPI, JF Technology, Engtex, Evergreen Fibreboard recorded lower year-on-year quarterly net earnings.

MISC’s net profit in the three-month ended March 31 soared 64% to RM510.5mil, or 11.4 sen a share compared with RM310.6mil, or 7 sen a share made a year earlier. Revenue improved 12.7% to RM2.28bil.

Kossan’s net profit in the three months ended March 31 rose 32% to RM58.7mil compared with RM44.5mil made a year ago. Revenue increased 16% to RM561mil.

MPI’s net profit fell by 35.4% to RM16.76mil in the third quarter ended March 31, from RM25.98mil a year ago.

Its revenue declined by 9.8% to RM330.10mil from RM366.33mil. Earnings per share were 8.82 sen compared with 13.68 sen.

US markets rose on Friday to rebound from recent sharp losses after President Trump said the trade war will end soon.

Earlier, European stocks rose as concerns over the trade war receded and UK's Prime Minister resigned.

“Following the positive performance in the US and Europe, the FBM KLCI could climb but remains below the resistance of 1,625 points,” JF Apex said.

MPI , Kossan , Dayang


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