Trading ideas: SYF Resources, VS Industry, Eco World Development, F&N, UEM Sunrise, Gamuda, NWP and Ranhill Utilities


KUALA LUMPUR: Stocks that may see increased investor attention on Monday include SYF Resources, VS Industry, Eco World Development, F&N, UEM Sunrise, Gamuda, NWP and Ranhill Utilities, said Apex Research.

SYF Resources Bhd after it received conditional approval from the SC for a reverse takeover by Insas Bhd’s stock broking arm M&A Securities Sdn Bhd.

VS Industry Bhd's net profit for the 1QFY23 jumped 54% YoY to RM60.71 million.

Eco World Development Group's net profit was hit by impairment in the 4QFY22 as it contracted to RM1.78 million compared with RM42.84 million a year ago.

Fraser & Neave Holdings recorded a higher net profit of RM98.89 million for its 4QFY22 from RM58.69 million in the previous year.

UEM Sunrise Bhd has aborted plans to dispose of its 80.4% stake in South Africa-based Roc-Union Proprietary Ltd for RM38 million.

Gamuda Bhd’s net profit for the 1QFY23 rose more than seven times to RM1.17 billion.

NWP Holdings Bhd has announced that Bioalpha Holdings founder, managing director and chief executive officer William Hon Tian Kok has emerged as a substantial shareholder of the group.

Ranhill Utilities reported a 9.4% increase in net profit to RM9.32 million for 3Q22.

Meanwhile, Apex said the FBM KLCI could remain under pressure and trend sideways between the support and resistance of 1,465 and 1,500 points respectively.

The US market declined on Friday following fears of recession after the Federal Reserve raised interest rates albeit at a lower quantum.

Earlier, European stocks were also negative after the central banks of Europe, England and Switzerland lifted rates by 50 basis points.

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