Trading ideas: Gamuda, GDB, Apollo Food, Yinson, Microlink, Sports Toto

KUALA LUMPUR: Gamuda Bhd, GDB Holdings Bhd, Apollo Food Holdings Bhd, Yinson Holdings Bhd, Microlink Solutions Bhd, Sports Toto Bhd, Citaglobal Bhd, and Mynews Holdings Bhd are among the stocks to watch on Friday, according to Apex Securities.

Gamuda’s Australian unit has secured a major road transport project from the New South Wales government worth RM3.03bil,

GDB has bagged a RM247mil design-and-build contract to construct a logistic hub in the Bandar Bukit Raja 2 Industrial Park in Klang.

Apollo Food’s net profit jumped over 10 times year-on-year (YoY) for 2QFY23 to RM9.46mil.

Yinson’s net profit rose 58.16% YoY to RM155mil for 3QFY23.

Yang di-Pertuan Agong has emerged as a substantial shareholder of Microlink with a 10.76% indirect equity interest which was acquired from Omesti Bhd for RM63.25mil or 55 sen per share.

Sports Toto said its 88.26%-owned subsidiary Berjaya Philippines Inc has disposed of 9.6 million shares or a 1.24% stake in Redtone Digital for RM4.8mil.

Citaglobal Bhd is exiting its bauxite mining venture as it divests its entire 49% stake in SE Satu to Spring Energy Sdn Bhd for RM4.8mil.

Mynews returned to the black with a net profit of RM1.37mil for 4QFY22.

Overnight, the US market plunged following concerns that global central banks' monetary tightening would push the economy into recession.

The Dow Jones Industrial Average fell 348.99 points, or 1.05%, to 33,027.49 — after falling as much as 803.05 points earlier in the session.

S&P 500 declined 1.45% to 3,822.39 while the Nasdaq Composite was 2.18% lower at 10,476.12

Earlier, European stocks tumbled after the UK posted a slower-than-expected 3Q GDP.

“Following the decline in Wall Street, the FBM KLCI could retrace towards its support of 1,465 points,” Apex said.