Trading ideas: Opcom, DBE Gurney, IOI, Destini

  • Business
  • Monday, 03 Jun 2019

KUALA LUMPUR: JF Apex Research expects OPCOM HOLDINGS BHD, IOI group, DBE Gurney Resources Bhd and Destini Bhd to be among the stocks to watch on Monday.

Tan Sri Mokhzani Mahathir has resigned today as the executive chairman of Opcom while Datuk Seri Mukhriz Mahathir trimmed his stake to 21.68%.

DBE, which produces poultry products and builds properties, has inked a partnership with a related party to jointly develop affordable homes with a gross development value (GDV) of RM100mil in Perak.

IOI group founder Tan Sri Lee Shin Cheng passed away at the age of 79. Lee was the executive chairman and controlling shareholder of IOI Corp Bhd and IOI Properties Bhd.

Destini’s net profit plunged 91.79% to RM636,000 in the first quarter ended Dec 31, 2019from RM7.75mil a year ago, mainly due to lower revenue from its aviation manufacturing services.

Meanwhile, US markets plunged on Friday after President Trump threatened to impose new tariffs on Mexico.

Similarly, European stocks tumbled after Trump plans to impose a 5% tariff on Mexican imports.

“Following the bearish performance in the US and Europe, the FBM KLCI could take profit from last week's gains and consolidate below the resistance of 1,660 points,” JF Apex said.

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Destini , IOI , DBE Gurney


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