Trading ideas: Malakoff, Globetronics, Axis Reit, Maybank, Gagasan Nadi


  • Analyst Reports
  • Wednesday, 30 Oct 2019

KUALA LUMPUR: Stocks that may be seeing trading interest on Wednesday include Malakoff Corp Bhd, Axis Real Estate Investment Trust (Axis REIT), Globetronics Technology Bhd, Malayan Banking Bhd (Maybank) and Gagasan Nadi Cergas Bhd, according to JF Apex Research.

Malakoff’s unit is planning to sell its entire 50% participating interest in the Macarthur Wind Farm in Australia for A$356.85mil, cash, which will give the group a disposal gain of approximately RM546mil.

Globetronics’ third quarter net profit fell 19.74% year-on-year due to "lower volume loadings of products from certain customers in the group".

Axis REIT proposed to place out up to 247.46 million new units in the property trust to third party investors to be identified later, to repay bank loans and reduce Axis REIT's gearing ratio.

Maybank’s Indonesian unit PT Bank Maybank Indonesia Tbk saw its net profit fall 26.7% year-on-year no thanks to an increase in loan loss provision.

MISC and with UK-based Avenir LNG Ltd have signed a time charter party with Petronas LNG Sdn Bhd.

Gagasan Nadi Cergas is planning to acquire polytechnic hostel asset concessionaire Konsortium PAE Sepakat Sdn Bhd for RM158mil in cash.

The group intends to raise the needed funds for that via the issuance of Islamic medium-term notes and a convertible sukuk.

Overnight, US markets ended slightly lower ahead of the Federal Reserve meeting where a 25 basis point rate cut is expected.

Earlier, European stocks decline as the UK could face a general election in December.

“Following the lackluster performances in the US and Europe, the FBM KLCI could hover sideways below the resistance of 1,585 points, ” JF Apex said.

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Malakoff , Globetronics , Gagasan Nadi

   

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