Trading ideas: Maybank, TNB, IOI Properties, Batu Kawan, Kuala Lumpur Kepong, Allianz, Genting Plantations, KPJ Healthcare, MPI, Matrix Concepts, Farm Fresh, IJM and Omesti


KUALA LUMPUR: Stocks in the spotlight on Thursday include Maybank, TNB, IOI Properties, Batu Kawan, Kuala Lumpur Kepong, Allianz, Genting Plantations, KPJ Healthcare, MPI, Matrix Concepts, Farm Fresh, IJM and Omesti, said Apex Research.

Maybank’s net profit grew 28.5% YoY to RM2.17b for 3Q22.

Tenaga Nasional Bhd reported a 14% YoY drop in net profit for 3Q22 to RM888.9m.

IOI Properties 1QFY23 net profit tripled YoY to RM640.29m.

Batu Kawan Bhd and its 47.74%-held Kuala Lumpur Kepong Bhd (KLK) reported lower earnings for the 4QFY22.

Allianz Malaysia Bhd’s net profit decline 5.3% YoY to RM108.56 million for 3Q22.

Genting Plantations Bhd’s net profit for 3Q22 dropped 26.15% YoY to RM75.49 million.

KPJ Healthcare posted a four-fold spike YoY in its net profit for 3Q22 to RM54.28 million.

Malaysian Pacific Industries (MPI)’s net profit for 1QFY2023 dropped 35.5% YoY to RM52.7 million.

Matrix's net profit for 2QFY2023 eased 2.4% YoY to RM50.57 million.

Hap Seng Plantations registered a 57% YoY decline in its 3Q22 net profit to RM22.88 million.

Farm Fresh Bhd's net profit for the 2QFY2023 dropped 64.53% YoY to RM11.19 million.

IJM Corp Bhd has secured two contracts for the construction of a manufacturing facility and a commercial tower in Penang worth RM422.18 million.

Omesti Bhd’s unit secured a three-year contract worth RM33.85 million from the Federal Court.

Meanwhile, Apex said the FBM KLCI could remain flat on political uncertainty as the hung parliament situation enters its fourth day.

"Stocks perceived to be linked to Prime Minister candidates Dato Seri Anwar Ibrahim (ASB and MUI) and Tan Sri Muhyiddin Yassin (Eden and Thriven) will continue to attract trading volume," it added.

Overnight, the US market rose overnight after minutes from the Federal Reserve's meeting signalled smaller rate hikes going forward.

Similarly, European stocks gained after its flash November PMI showed the downturn in business is slowing down.

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