Trading ideas: AirAsia, PetChem, Sime Darby Property, Wah Seong, Scientex


KUALA LUMPUR: AirAsia Group Bhd, Petronas Chemicals Group Bhd, Sime Darby Plantation Bhd (SDP), Wah Seong Corp Bhd and Scientex Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.


The research house also expects DRB-Hicom Bhd, Hiap Teck Venture Bhd, MISC Bhd and RHB Bank to see trading interests following their latest news.


AirAsia and Petronas Chemicals are the latest additions to FTSE Russell's FTSE Value-Stocks Asean Index.


Meanwhile, Sime Darby Property, MISC and RHB Bank have been excluded from the list, as part of the review.


FGV has terminated its Memorandum of Understanding with Hong Kong-listed China Machinery Engineering Corp to look into establishing paper pulp production facilities.


Wah Seong reported a 30.9% year-on-year drop in first quarter net profit, following a fall in its revenue.


Hiap Teck Venture has proposed to lend RM140mil to its 35%-owned associate, Eastern Steel Sdn Bhd, as part of a RM400mil sum that Eastern Steel is looking to raise for its working capital retirements.


DRB-Hicom confirmed that the Malaysian Anti-Corruption Commission (MACC) has remanded two top executives of its wholly-owned subsidiary DRB-HICOM Bhd Defence Technologies Sdn Bhd (Deftech), in connection with a graft probe on a RM17mil defence contract.


Scientex is acquiring land in Rawang for a total of RM123.28mil in order to boost its property development landbank, with a focus on building affordable homes.


Meanwhile, US markets plunged overnight as the US-China trade war escalated after China announced new tariffs on US products.


Earlier, European stocks tumbled as trade talks between US and China broke up without a deal on Friday.


“Following the trade war, the FBM KLCI could extend its selldown towards 1,550 points,” JF Apex said.


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Wah Seong , Scientex , DRB-Hicom

   

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