Trading ideas: MAHB, Wah Seong, Axiata, Mynews, Genting Malaysia

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB), Wah Seong Corp Bhd, Axiata Group Bhd, MyNews Holdings Bhd and Genting Malaysia Bhd are among the stocks to watch on Monday, according to JF Apex Research.

MAHB received an arbitration notice from Segi Astana Sdn Bhd (SASB) whereby SASB is claiming RM70mil from the airport operator for alleged losses and damages due to the delay in the commencement of commercial operations at the klia2 Integrated Complex.

Wah Seong's indirectly owned unit WDG Resources Sdn Bhd has expanded its exclusive distributorship for South Korea's Doosan Infracore Co Ltd construction equipment to East Malaysia, from only Peninsular Malaysia previously.

Axiata seems to have no plan to declare special dividend for its shareholders with the RM1.65bil sale proceeds from the divestment of its 28.7% stake in M1 Ltd.

The group said it will utilise RM1.06bil or 64% of the cash proceeds for repayment of debt in the second quarter of this year.

Mynews' 1QFY19 net profit jumped 30% year-on-year, helped by better sales and contributions from new outlets.

Genting Malaysia's indirect wholly-owned subsidiary Genting UK plc is disposing of its entire equity interest in Coastbright Ltd for some £34.6 million cash (approximately RM185mil).

Meanwhile, US markets plunged on Friday following concerns of global economic slowdown after the Federal Reserve's dovish stance last week.

Similarly, European stocks plummeted due to weaker-than-expected economic data and Brexit concerns.

“Following the bearish sentiment in global markets, the FBM KLCI could trend lower and test its support of 1,655 points,” JF Apex said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

MAHB , Axiata , Genting Malaysia


Next In Business News

Financial planners urged to embrace technology to better serve clients
KL shares flat at midday
Elon Musk briefly loses top spot on Forbes billionaire list
Asia stocks edge up despite global growth worries
Malaysian banks remain steadfast in supporting economic recovery
Ringgit opens higher against US dollar
Muhibbah gets to increase orderbook with PETRONAS Carigali job
Quick take: KNM falls 10% in active trade over default concerns
FBM KLCI little changed in early trade
Trading ideas: Gamuda, QES Group, Wah Seong, Muhibbah, Sunview, KNM

Others Also Read