Trading ideas: AirAsia, KLK, HSL, Pasdec, Scomi Group, Tan Chong

  • Business
  • Wednesday, 15 Aug 2018

KUALA LUMPUR: AIRASIA BHD, Kuala Lumpur Kepong Bhd, Hock Seng Lee Bhd (HSL), PASDEC HOLDINGS BHD, SCOMI GROUP BHD and TAN CHONG MOTOR HOLDINGS BHD are among the stocks to watch, according to JF Apex Research.

AirAsia has disposed of its remaining 25% stake in online travel agency AAE Travel Pte Ltd to Expedia Inc for US$60 million (RM240mil), which will result in the airliner realising a gain on disposal of RM230.4mil.

At group consolidated level, the total gain would amount to RM181.6mil.

Kuala Lumpur Kepong post a 25.9% year-on-year increase in its 3QFY18 net profit thanks to better performance in manufacturing and property development segments.

Hock Seng Lee has bagged an RM101.19mil contract from Petroliam Nasional Bhd (Petronas) to build the fourth Mara Junior Science College (MRSM) in Sarawak on a 40-acre site in Bintulu.

Pasdec’s executive director Datuk Seri Tew Kim Thin has failed to take over the firm via his majority-owned private unit Jasa Imani Sdn Bhd after having secured only 48.4% of the voting shares in the company, or 1.6% shy of the 50% minimum threshold.

Scomi Group has proposed a capital reduction of RM440mil to wipe out the ballooning accumulated losses on its balance sheet.

Tan Chong Motor reported a net profit of RM12.36mil in 2QFY18 against a net loss of RM23mil last year, mainly driven by a favourable sales mix and a stronger ringgit during the quarter.

Meanwhile, US markets rose overnight as the Turkish lira rebounded 8% from its record low.

Earlier, European stocks ended flat despite easing concerns on Turkey's economic crisis.

“Following the improved sentiment in global markets, the FBM KLCI is expected to climb towards the psychological level of 1,800 points,” JF Apex said.

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