Trading ideas: Hap Seng, Genting Malaysia, Pharmaniaga, MBM Resources, DRB-Hicom, Topricana, Sime Darby, Berjaya land, YTL Corp, Malayan cement, YTL Power and YTL Hospitality REIT

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KUALA LUMPUR: Stocks to watch for on Friday include Hap Seng, Genting Malaysia, Pharmaniaga, MBM Resources, DRB-Hicom, Topricana, Sime Darby, Berjaya Land, YTL Corp, Malayan cement, YTL Power and YTL Hospitality REIT, said Apex Research.

Hap Seng’s 3Q22 net profit jumped 47.75% YoY to RM563.75 million from RM381.55 million.

Genting Malaysia Bhd (GenM) and Genting Bhd both swung back to profitability in 3Q22.

Pharmaniaga saw its 3Q22 net profit fall 82.7% YoY to RM8.62 million.

MBM Resources Bhd returned to the black after posting a net profit of RM60.8 million for 3Q22.

DRB-Hicom Bhd recorded a net profit of RM143.95 million in 3Q22 to reverse its losses.

Tropicana remained in the red in 3Q22 with a net loss of RM26.27 million.

Sime Darby Bhd saw its 1QFY23 net profit decline 12% YoY to RM207m.

Berjaya Land returned to the black in 1QFY23 after posting a net profit of RM8.45 million.

YTL Corp Bhd said its net profit fell 65.21% YoY in 1QFY23 to RM36.6 million.

Malayan Cement Bhd, swung to the black with a net profit of RM953,000 for 1QFY23.

YTL Power ‘s net profit for 1QFY2023 jumped almost five times YoY to RM173.28 million.

YTL Hospitality REIT’s income available for distribution for 1QFY23 increased 72.74% YoY to RM30.95 million.

Meanwhile, Apex said the FBM KLCI could test its resistance of 1,530 points as investors look forward to Prime Minister Datuk Seri Anwar Ibrahim announcing his Cabinet.

“Stocks perceived to be linked to Anwar such as ASB, MUI and PM will continue to attract buying interest while stocks perceived to be linked to Tan Sri Muhyiddin Yassin (Thriven and Eden) could remain negative,” said the research firm.

Elsewhere, the European market climbed overnight after minutes from the US Federal Reserve meeting signalled slower interest rate hikes going forward.

Meanwhile, the US market was closed for the Thanksgiving holiday.

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