Trading ideas: Carlsberg, Gas Malaysia, MSM Malaysia, Kelington, Muar Ban Lee and Nova MSC

KUALA LUMPUR: Stocks with recent corporate announcement to watch for include Carlsberg, Gas Malaysia, MSM Malaysia, Kelington, Muar Ban Lee and Nova MSC, said Apex Research.

In a note, Apex said Carlsberg's net profit for 3Q22 climbed almost threefold YoY to RM76.39 million.

Gas Malaysia Bhd, which is being sued by MSM Malaysia Holdings Bhd over a disputed sum of RM10.32 million relating to gas supply to MSM Malaysia's sugar refinery unit in Johor.

Kelington Group Bhd is investing RM45 million to set up its second carbon dioxide gas recovery plant at the existing site in Kerteh, Terengganu.

Muar Ban Lee Group Bhd (MBL) is disposing of its entire 51% stake in its Indonesian unit for 36 RM11 million.

Nova MSC's biggest shareholder Ooi Keng Thye raises stake to 15%.

Meanwhile, Apex said the FBM KLCI could extend its gains towards the resistance of 1,500 points following the recent bullish momentum.

The US market rose on Friday, led by gains in technology stocks after softer CPI data could prompt the Federal Reserve to slow down interest rate hikes.

Earlier, European stocks ended mixed after UK's GDP declined by 0.2%.

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