Trading ideas: KTB, Ivory Properties, Mynews, PT Resources, Poh Kong, Apollo Food and VS Industry




KUALA LUMPUR: Stocks in focus on Wednesday include KTB, Ivory Properties, Mynews, PT Resources, Poh Kong, Apollo Food and VS Industry, said Apex Research.

Konsortium Transnasional Bhd (KTB) after it has proposed to dispose of its express bus business, as part of the group’s plan to regularise its financial condition to address its PN17 status.

Ivory Properties Group Bhd’s third subsidiary has defaulted on a loan payment, this time for a sum of RM39 million to Malayan Banking Bhd (Maybank).

MyNews Holdings Bhd’s net loss narrowed by 90% YoY to RM1.45 million for 3QFY22.

PT Resources Holdings Bhd’s net profit soared to RM7.52 million for 1QFY23, LB Aluminium Bhd’s net profit for 1QFY23 surged 311% YoY to RM12.51 million.

Poh Kong Holdings Bhd returns to the black after posting a net profit of RM29.84 million for 4QFY22.

Apollo Food Holdings Bhd’s net profit for 1QFY23 jumped 26 times YoY to RM4.56 million.

VS Industry Bhd’s net profit fell 16.69% YoY to RM34.57 million for its 4QFY22.

Meanwhile, Apex said the FBM KLCI could remain sideways above the support of 1,400 points following weak market sentiment.

The US market was mixed with the Dow and S&P falling while the Nasdaq climbed following concerns of a recession.

Earlier, European stocks tumbled as the British pound fell to a record low against the US dollar, prompting the Bank of England to announce stimulus measures.

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