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Trading ideas: Hartalega, F&N, Talam, Sunway REIT, Eita, Pasukhas


KUALA LUMPUR: Hartalega Holdings Bhd , Fraser and Neave Holdings Bhd (F&N), Talam Transform Bhd , Sunway REIT, Eita Resources Bhd and Pasukhas Group Bhd are among the stocks to watch, according to JF Apex Research.


Hartalega announced a 70.7% year-on-year jump in its 3QFY18 net profit, together with a 4 sen interim dividend payout, and a proposed bonus issue on the basis of one bonus share for every one existing share held to reward shareholders.


F&N’s 1QFY18 net profit fell 16% year-on-year, mainly due to higher input costs in both its Malaysian and Thai operations.


Talam Transform has scrapped its plan to sell its 85% stake in its Chinese unit that is involved in hotel operations and management in Jilin Province, China.


Sunway REIT’s net property income (NPI) grew 10% year-on-year for its 2QFY18 on higher revenue mainly from its hotel segment.


Eita Resources has bagged six contracts for the replacement of primary and ancillary equipment across the country worth an accumulated RM24.77mil from Tenaga Nasional Bhd .


Pasukhas is selling two vessels of steam coal to a buyer known as "Taiwan Company", following a sale and purchase contract between both companies.


Meanwhile, US markets rallied overnight to stage a sharp rebound after its worst decline in years.


The Dow Jones industrial average opened with a big whoosh lower, then rallied all the way back. The Dow closed 567.02 points higher at 24,912.77 and rose as much as 600.48 points.


Earlier, European tumbled following losses in banking and insurance counters amid quarterly results.


“After the recovery in the US markets, the FBM KLCI could follow suit and stage a rebound after bouncing off the support of 1,800 points yesterday,” JF Apex said.


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