Trading ideas: Kluang Rubber, Axis Reit, Mi Technovation, MSM

  • Analyst Reports
  • Wednesday, 09 Oct 2019

KUALA LUMPUR: Kluang Rubber Co (Malaya) Bhd, Axis Real Estate Investment Trust, Mi Technovation Bhd and MSM Malaysia Holdings Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

Kluang Rubber has proposed a special dividend of five sen per share for FY19, additional to a first and final dividend of one sen.

Axis REIT is buying a property in the industrial area of Nilai from K-Plastics Industries Sdn Bhd for RM50mil.

Mi Technovation has proposed a bonus issue of up to 250 million new shares on the basis of one bonus unit for every two existing shares held, to reward shareholders.

MSM is selling a 4,453.92ha land in Chuping, Perlis, to FRASER & NEAVE HOLDINGS BHD (F&N) for RM156mil.

The group said it will use proceeds from the disposal to repay bank borrowings and for working capital.

Meanwhile, US markets tumbled overnight following concerns over the US-China trade negotiations.

Similarly, European stocks declined over uncertainties of a US-China trade deal after the US blacklisted 28 Chinese companies.

“Following the negative performances in the US and Europe, the FBM KLCI could remain lackluster and hover sideways above the support of 1,550 points, ” JF Apex said.

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Kluang Rubber , MSM , Axis Reit


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