Trading ideas: Bahvest, RHB, Affin, MSM, Malakoff, IOI Properties, UMW, DRB-Hicom, OSK, AME Elite

KUALA LUMPUR: Trading interest could pick up in Bahvest, RHB, Affin, MSM, Malakoff, IOI Properties, UMW, DRB-Hicom, OSK, AME Elite, said Apex Research.

Bahvest Resources Bhd is unable to submit its first quarter results by May 31 due to the recent raid by the MACC.

RHB Bank Bhd’s 1Q23 net profit rose 31% to RM761.67 million.

Affin Bank Bhd's 1Q23 net profit rose 4.41% to RM148.98 million.

MSM Malaysia Bhd’s 1Q23 net loss widened to RM35.88 million.

Malakoff Corp Bhd reported a net loss of RM99.1 million in 1Q23.

IOI Properties Group Bhd 3QFY23 net profit jumped 93.2% year-on-year to RM115.38 million.

UMW Holdings Bhd’s 1Q23 net profit soared 32.85% to RM134.4 million.

DRB-Hicom Bhd returned to the black with a net profit of RM107.91 million in 1Q23.

OSK Holdings Bhd’s 1Q23 net profit grew 36.3% to RM115.09 million.

AME Elite Consortium Bhd’s 4QFY23 net profit surged over two folds to RM103.52 million.

Meanwhile, the US market rallied on Friday following optimism that the US debt ceiling will be raised by month end to avoid a default.

Similarly, European markets rose as investors expect the US debt ceiling negotiations to bear fruit.

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