Trading ideas: MRCB, F&N, Hume, IOI Corp, Dialog, Guan Chong


  • Business
  • Tuesday, 13 Nov 2018

KUALA LUMPUR: MALAYSIAN RESOURCES CORP Bhd (MRCB), FRASER & NEAVE HOLDINGS BHD, HUME INDUSTRIES BHD, IOI Corp Bhd, Dialog Group Bhd, GUAN CHONG BHD and HONG LEONG INDUSTRIES BHD are among the the stocks to watch, according to JF Apex.


The research house noted that MRCB’s indirect wholly-owned subsidiary MRCB Lingkaran Selatan Sdn Bhd (MLSSB) has inked a termination and settlement agreement with the Government in relation to the Concession Termination of the Eastern Dispersal Link Expressway (EDL).


Pursuant to the termination agreement, the Government will pay MLSSB, which MRCB owns via MRCB Prasarana Sdn Bhd, RM1.32bil, subject to terms and conditions in the termination agreement.


F&N expects 90% of its beverage products to be subjected to Malaysia's proposed sugar tax on sweetened beverages.


Hume Industries has proposed a rights issue to raise up to RM172.5mil to help pay debts and fund working capital needs.


IOI Corp posted a 60% year-on-year decline in its 1QFY19 net profit on lower operating profit and a currency translation loss on foreign currency-denominated borrowings and deposits.


Dialog’s 1QFY19 net profit fell 29% year-on-year on the absence of fair value gain and lower revenue from its Malaysian operations.


Guan Chong recorded a 47.7% year-on-year increase in its 3QFY18 net profit, as revenue rose on higher sales, increased bean grinding and lower input costs.


Hong Leong Industries’s 1QFY19 net profit dropped by 15.54% year-on-year dragged by lower contribution from an associate company.


Meanwhile, US markets tumbled overnight (DJIA: -602.12 points; S&P: -54.79 points) following losses in technology counters, rising US dollar and concerns over global trade.


Earlier, European stocks fell amid sell-off in technology companies and higher oil prices.


“Following the bearish performance in the US and European markets, the FBM KLCI could extend its selldown towards the support of 1,660 points,” JF Apex said.


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MRCB , Guan Chong , F&N

   

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