Trading ideas: Aeon Credit, UEM Edgenta, Kawan Food, F&N

UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.

KUALA LUMPUR: Aeon Credit, UEM Edgenta, Kawan Food and Fraser and Neave (F&N) are among the stocks which could see trading interest on Wednesday after their corporate news, says JF Apex Research.

Aeon Credit's 1QFY18 net profit jumped 20.9% on-year, partly boosted by bad debt recovery and commission earned from sale of insurance products, and AEON Big loyalty programme processing fees.

UEM Edgenta’s unit secured a hospital support services contract from the Ministry of Health, valued at RM75.5mil.

JF Apex Research said Kawan Food has proposed a bonus issue of 89.88 million new shares on a one-for-three basis.

F&N has formed a marketing partnership with McDonald's Malaysia, which will see its 100Plus products made available at all McDonald's outlets.

US markets were closed for Independence Day holiday. Meanwhile, European stocks declined dragged by utility counters following geopolitical uncertainty after North Korea tested a missile and French president Emmanuel Macron threatened a referendum if his reform agenda is not passed in parliament.
 
At Bursa Malaysia, the FBM KLCI lost 6.59 points to end at 1,762.08. 

“Following the bearish display in Europe, the FBM KLCI could continue its lacklustre performance with support at 1,755,” it said.