Trading ideas: AMMB, MMHE, Swift Haulage, Teladan Setia, Kuala Lumpur Kepong, Sime Darby, Tenaga Nasional, PMB Technology and Malaysia Pacific Corp
KUALA LUMPUR: Stocks to watch for on Thursday include AMMB, MMHE, Swift Haulage, Teladan Setia, Kuala Lumpur Kepong, Sime Darby, Tenaga Nasional, PMB Technology and Malaysia Pacific Corp, said JF Apex Resesarch.
AMMB Holdings Bhd's net profit for 1QFY23 rose 8.42% YoY to RM419.19 million.
Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) returned into the black with a RM21.97 million net profit for 2Q22.
Swift Haulage Bhd's net profit in 2Q22 rose 13.71% YoY to RM13.19 million.
Teladan Setia Group Bhd's net profit in 2QFY22 jumped 85.85% YoY to RM14.24 million.
Kuala Lumpur Kepong Bhd's (KLK)’s net profit for 3QFY22 slipped 28.78% YoY to RM558.27 million.
Sime Darby Bhd's net profit for 4QFY22 rose 31.75% YoY to RM278 million.,
Tenaga Nasional Bhd (TNB) announced it will invest around RM20 billion per year over the next 28 years as capital expenditure.
PMB Technology Bhd has proposed to sell land in Kuala Lumpur for RM37 million.
Malaysia Pacific Corp Bhd (MPCorp) — whose shares will be suspended tomorrow — has secured two subcontracts worth RM44.91 million from Windsor Aims Machinery Sdn Bhd.
Meanwhile, JF Apex said the FBM KLCI could retrace towards the support of 1,510 points following the negative performance on Wall Street.
The US market declined overnight after minutes from the Federal Reserve meeting showed no signs of slower rate hikes.
Earlier, European stocks were also negative after UK inflation data and Euro zone's economic growth was revised downward.