Trading ideas: Glomac, Khee San, Hiap Teck Ventures, Gamuda, SCGM and Bintai Kinden

KUALA LUMPUR: Stocks in the spotlight on Thursday include Glomac, Khee San, Hiap Teck Ventures, Gamuda, SCGM and Bintai Kinden, said JF Apex Research.

Glomac Bhd's net profit jumped almost threefold to RM15.11mil or 1.97 sen per share for the fourth quarter ended April 30, 2022.

Khee San Bhd and nine of the candy maker’s directors have been publicly reprimanded by Bursa Malaysia Securities Bhd for its delayed announcement of default in payments.

Hiap Teck Venture Bhd’s net profit for the third quarter ended April 30, 2022 (3QFY22) slipped 51.14% to RM32.21mil or 1.85 sen per share.

Gamuda Bhd's net profit climbed 56% to RM221.49mil for the third quarter ended April 30 from RM141.89mil a year ago.

SCGM Bhd’s net profit for the fourth quarter ended April 30, 2022 grew 11.11% to RM8.47mil from RM7.62mil a year earlier.

Bintai Kinden Corp Bhd is partnering with Marafie Industrial Co to supply piping materials to oil and gas (O&G) related companies in Saudi Arabia.

Meanwhile, JF Apex said the FBM KLCI could remain above the support of 1,430 points following the ongoing uncertainty.

The US market ended little changed overnight with the Dow adding 0.27%, S&P 500 falling 0.07% and Nasdaq declining 0.03%.

Earlier, European stocks ended lower as investors struggled with recession fears.

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