Trading ideas: KNM, MFCB, NetX, PUC, BTM


  • Analyst Reports
  • Thursday, 14 Nov 2019

KUALA LUMPUR: KNM Group Bhd, Mega First Corp. Bhd (MFCB), Netx Holdings Bhd, PUC BHD and BTM Resources Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

The research house also also expects Petronas Chemicals, AIRASIA X, MISC, SP Setia, Malayan Flour Mills and KKB Engineering to see trading interest following their latest quarterly results.

KNM has bagged an additional purchase order worth US$5.18mil (RM21.51mil) from PSS Netherlands B.V. Sharjah Branch, which will last till Oct 10,2020.

MFCB's 51% indirect unit Serudong Power Sdn Bhd is planning to sell its power plant in Tawau and all related assets, which will contribute a profit increase of RM9.65mil to the group's financial year ending Dec 31,2019.

NetX Holdings has inked a Memorandum of Understanding with PUC to explore a potential collaboration to jointly expand, promote and strengthen their presence in the e-commerce and financial technology (e-payment) industry.

BTM Resources, which is principally involved in the wood-based industry, is partnering with Markmore Energy (Labuan) Ltd (MELL), which is controlled by Tan Sri Halim Saad, to participate in the proposed production of liquefied petroleum gas (LPG) using natural gas supplied from the Rakushechnoye Oil and Gas Field.

JF Apex noted that Petronas Chemicals, AirAsia X, MISC saw their quarterly earnings decline year-on-year, whilst SP Setia, Malayan Flour Mills, KKB Engineering posted better year-on-year quarterly net profits.

Meanwhile, US markets ended mixed overnight with the Dow and S&P extending their record highs while the Nasdaq was slightly lower following trade uncertainty and the Federal Reserve chairman's comment that rates will be unchanged.

Earlier, European stocks declined following concerns over US-China trade talks and the Fed chairman's remarks.

“Following the uncertainties in the US and Europe, the FBM KLCI could remain lackluster with support at 1,570 points, ” JF Apex said.


Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 7
Cxense type: free
User access status: 3

KNM , MFCB , NetX , PUC

   

What do you think of this article?

It is insightful
Not in my interest

Across The Star Online