Trading ideas: Lotte Chemical Titan, Affin Bank, Suria Capital and Priceworth

  • Analyst Reports
  • Friday, 06 Sep 2019

KUALA LUMPUR: Stocks to watch for in Friday trading include Lotte Chemical Titan, Affin Bank, Suria Capital and Priceworth, said JF Apex research in its daily highlights report.

Lotte Chemical Titan said its US-based joint venture company Lotte Chemical USA Corp's ethane cracker and monoethylene glycol plants had started commercial operations in August 2019 on an integrated basis.

Affin Bank and French insurer AXA SA are exploring options, including a potential sale of their life and general insurance business in Malaysia, that could fetch about US$650mil, according to people with knowledge of the matter.

Suria Capital, owner of Sabah Ports Sdn Bhd, has appealed to the Sabah State Government to increase cargo tariffs by 15% to 20% at its seven ports in the State.

Priceworth slipped into the red for the fourth quarter ended June 30, 2019 due to temporary interruptions in its logging operations and the impairment on goodwill.

The group said it posted a net loss of RM90.41mil for the quarter compared to a RM3.54 million net profit in the corresponding quarter last year.

Meanwhile, the FBM KLCI could track the positive performance of global markets towards its resistance of 1,630 points.

The Dow Jones jumped over 350 points overnight after the US and China agreed to trade talks next month while European markets closed higher on positive developments over Brexit.

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