Trading ideas: Westports, AWC, AirAsia, Sime Darby

KUALA LUMPUR: JF Apex Research expects Wesports, AWC, AirAsia, Sime Darby and Suria Capital to attract trading interest on Monday following their corporate news.

The research house said Westports has secured an approval-in-principle from the government to expand its container terminal facilities in Port Klang from the current nine to 19.

AWC has secured a RM31.74mil contract from the Public Works Department to manage the facilities of a building complex in Putrajaya which houses the Ministry of Communications and Multimedia Malaysia.

AirAsia is selling its entire 50% stake in Asian Aviation Centre of Excellence (AACE) for US$100mil (RM429.3mil) to its joint-venture partner, CAE International Holding Ltd.

The sale is part of its plan to "regularly dispose of non-core investments and dividend most of it out", and will realise a gain on disposal of RM304.8mil in 4QFY17 for the group.

Sime Darby, which is set to list its plantation and property arms — Sime Darby Plantation Bhd (SD Plantation) and Sime Darby Property Bhd (SD Property) — separately on Bursa Malaysia by November, has undertaken a record impairment at the group level to provide a clean sheet for their financials, moving forward.

Hence, its final quarter of the year reported a 53.4% year-on-year slump in net profit, after accounting for some RM605mil in impairments and provisions during the quarter across its divisions.

Suria Capital has accepted a RM49.5mil contract from the government to upgrade Sabah's railway system;

JF Apex said Bumi Armada, Parkson, SKP Resources, Sarawak Oil Palms, Padini, Petra Energy, Cahya Mata Sarawak achieved better year-on-year  quarterly results.

On the other hand, Tan Chong, Icon Offshore, Hengyuan, Choo Bee, Thong Guan, Datasonic recorded weaker year-on-year financial results.

Meanwhile, US markets ended mixed on Friday with the Dow and S&P rebounding on hopes of tax reform.

Earlier, European stocks declined as Fed Chair Janet Yellen gave little indication of timing of the next interest rate hike.

 

“Following the mixed performance in the US and Europe, the FBM KLCI could remain pressured with support at 1,750 points,” JF Apex said.