Trading ideas: GHL Systems, HIbiscus Petroleum, Axis REIT, Gadang, DNeX


  • Business
  • Thursday, 25 Jul 2019

KUALA LUMPUR: Stocks on investors' radar screens on Thursday include GHL Systems, HIbiscus Petroleum, Axis REIT, Gadang and DNeX.

In its daily highlights report, JF Apex noted that these stocks may be seeing some price action after recent news flow.

GHL Systems’ wholly-owned GHL (Thailand) Co Ltd has teamed up with Thanachart Bank Public Company Ltd to jointly launch smart payment terminals in Thailand, the partnership offering multiple payment acceptance in a single device “Smart All in One”.

Hibiscus Petroleum’s unit SEA Hibiscus Sdn Bhd successfully achieved first oil after drilling and completing the SJ-105A well on July 16, which is part of the North Sabah Production Sharing Contract (North Sabah PSC).

Axis REIT’s second quarter ended June 30 saw net property income grow 15.81% yoy, on the back of higher property income.

Gadang made a net loss of RM3.39 million in the fourth quarter ended May 31 from a RM23.31 million net profit a year prior due to the recognition of variation orders at its construction division and lower profit from its Johor based capital City project.

DNeX’s wholly-owned unit Dagang Net Technologies has received a two-year extension from the Government for the National Single Window for Trade Facilitation contract to Aug 31, 2021.

On Wall Street overnight, markets closed mixed with the S&P500 and Nasdaq hitting record high led by technology counters following lower regulatory concerns. 

European stocks were similarly lower amid quarterly results and slower economic data from Germany and France.

JF Apex said the FBM KLCI could remain moving sideways below the resistance of 1,670 after losing 3.26 points to 1,652.41 in the previous session.
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