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Stocks linked to PM and 2 DPMs expected to ‘turn hot’ this week

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Publish date: Sun, 04 Dec 2022, 08:51 PM

STOCK punters are expected to eye several politically-linked stocks related to Malaysia’s two newly minted Deputy Prime Ministers (DPM) Datuk Seri Ahmad Zahid Hamidi and Datuk Seri Fadillah Yusof, making them “hot cakes” this week.

As it is, Advance Synergy Bhd which is a stock traditionally-linked to Prime Minister (PM) Datuk Seri Anwar Ibrahim has remained the most actively traded stock on Bursa Malaysia with 227.08 million shares traded on Friday (Dec 2).

The counter which is listed in the Main Market’s consumer products and services sector closed 1.5 sen or 8.57% higher at 19 sen on Friday (Dec 2) as the Pakatan Harapan (PH) chairman geared up to unveil his Cabinet line-up.

Recall that in the run-up to the Yang di-Pertuan Agong consenting the PKR president’s appointment as PM on Nov 24, ASB has spiked to a 52-week high of 32 sen.

Elsewhere, Zahid-related stocks, MQ Technology Bhd closed at 5.5 sen, up 0.5 sen or 10% with 199.49 million shares traded while SMTrack Bhd also ended the week 0.5 sen higher (added 8.33%) at 6.5 sen with  56.54 million shares exchanged hands.

Datuk Saiful Nizam Mohd Yusoff (left) and wife Datuk Nurulhidayah Zahid

 

Fadillah’s appointment as the second DPM would be a boost to Sarawakian stocks especially with five ministerial positions accorded to the Gabungan Parti Sarawak (GPS) coalition in Anwar’s unity government.

That this is the first-ever appointment of an East Malaysian as DPM since the independence of Malaysia, the stock market is expected to react positively to some Sarawak-based companies that are linked to Fadillah such as Petra Energy Bhd and Reservoir Link Energy Bhd.

Oil and gas (O&G) outfit Petra Energy is 29.04% owned by Shorefield Resources Sdn Bhd, a private investment vehicle of Tan Sri Bustari Yusof who is the brother of Fadillah.

A little known fact is that Bustari also has a stake in O&G-based Reservoir Link via Shorefield Offshore Services Sdn Bhd which owns 60% of Reservoir Link Sdn Bhd in 2010.

Petra Energy rose 2.5 sen ior 3.07% to 84 sen on Friday with 464,800 shares traded while Reservoir Link added 2 sen or 4.44% to 47 sen with 8.74 million shares exchanged hands.

Another DPM-linked stocks that can find its way into limelight is Jiankun International Bhd in which Zahid’s son-in-law Datuk Saiful Nizam Mohd Yusoff sits on its board as deputy executive chairman.

On Friday, Jiankun appreciated 2 sen or 8.33% to 26 sen with 12 million shares traded. Apart from Jiankun, Saiful Nizam is also an executive director at SMTrack while his wife and Zahid’s daughter, Datuk Nurulhidayah Zahid, is the director and vice chairman of MQTech. – Dec 4, 2022

 

https://focusmalaysia.my/stocks-linked-to-pm-and-2-dpms-expected-to-turn-hot-this-week/

Discussions
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8888_

Petra Energy even though got move; RM 1 remain hard. Is it Muhyiddin must be PM 11?

1 month ago

calvintaneng

Better get out as each company performance and not short term politics determine long term value

I had some opcom shares in May 2018 when PKR won the election by a landslide

I saw Opcom chased to limit up over Rm1.20 then but that was then

those who chased foolishly at peak later lost their shirt

As it is true that 90% of retail punters eventually lost money

one of them is chasing hot potato stocks to their great harm later

Better learn to invest in umdervalue defensive shares that got margin of safety and pay a dividend better than Bank FD
de

1 month ago

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