Trading ideas: DNeX, Cahya Mata Sarawak, Supermax, UEM Sunrise, Gas Malaysia

KUALA LUMPUR: Dagang Nexchange Bhd, Cahya Mata Sarawak Bhd, Supermax Corp Bhd, UEM Sunrise Bhd and Gas Malaysia Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

DNeX expects to raise up to RM641.96mil through its proposed issuance of new placement shares representing 30% of its existing number of issued shares.

Cahya Mata Sarawak suspended its group chief financial officer (CFO) Syed Hizam Alsagoff for 30 days with immediate effect.

The suspension is to facilitate investigations into allegations of possible financial mismanagement in relation to the company's investments and operations.

Two wholly-owned subsidiaries of UEM Sunrise have been slapped with additional taxes and penalties amounting to RM82.18mil by the Director General of Inland Revenue Board (IRB).

Prestar Resources saw its 1QFY21 net profit jump 351% year-on-year, thanks to strong demand for its steel products.

Supermax's 3QFY21 net profit came in at RM1bil, which was 5.2% lower compared with RM1.06bil recorded in 2QFY21. The group declared a special dividend of 13 sen per share.

Gas Malaysia’s 1QFY21 net profit rose 16.2% year-on-year, on higher volume of natural gas sold and higher contribution from joint ventures.

Dufu Technology posted a 38% year-on-year growth in its 1QFY21 net profit and said that strong order visibility in 2021 would contribute to the group's earnings in the coming quarters.

The US market was flat overnight with the Dow inching to a record high as technology counters continue to decline.

Earlier, European stocks climbed after Europe's business activity improved following higher PMI and producer prices.

“Following the recent lacklustre performance and the announcement of MCO, the FBM KLCI could remain pressured and retest the support of 1,560 points,” JF Apex said.

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