Trading ideas: Malakoff, GDB, Revenue, Poh Kong, Dayang Enterprise and Scientex

KUALA LUMPUR: Stocks to watch for include Malakoff, GDB, Revenue, Poh Kong, Dayang Enterprise and Scientex, said Apex Research.

Malakoff Corporation Bhd has proposed to buy a 70% stake in a company that is developing three small hydroelectric renewable energy plants in Kuala Kerai, Kelantan.

GDB Holdings Bhd has withdrawn its legal suit against KSK Land Sdn Bhd over unpaid monies in relation to the construction of a building.

Revenue Group Bhd's Danny Leong Kah Chern will be stepping down as group chief executive officer effective May 23, some five months after assuming the position.

Poh Kong Holdings Bhd’s net profit 2QFY2023 fell 12.49% YoY to RM25.68 million.

Dayang Enterprise Holdings has won a contract from Petronas Carigali Sdn Bhd for the provision of accommodation work boat.

Scientex has signed a joint venture (JV) with Indonesia’s Mustika Land and Japan’s Creed Group to make its maiden foray into building affordable homes in Indonesia with a GDV of RM85.5 million.

Meanwhile, Apex said the FBM KLCI could climb towards its resistance of 1,431 points following the rebound on Wall Street.

The US market rallied overnight following rebound in banking stocks as investors hope for a favourable outcome from the Federal Reserve interest rate decision later today.

Similarly, European stocks had a sharp rebound led by the financial sector after UBS’s takeover of Credit Suisse.