Trading ideas: 7-Eleven, Caring Pharmacy, TNB, Press Metal, Genting

KUALA LUMPUR: 7-Eleven Malaysia Holdings Bhd, Caring Pharmacy Group Bhd, Tenaga Nasional Bhd, Press Metal Aluminium Holdings Bhd and Genting Bhd are among the stocks to watch on Friday, according to JF Apex Research.

7-Eleven plans to acquire a 25.35% stake in Caring Pharmacy, raising the company’s and related parties’ shareholding in the pharmacy chain to 38.57%, forcing a mandatory general offer (MGO) for the remaining shares, at a cash offer price of RM2.60 per share.

Tenaga Nasional has received notices of additional assessments from the Inland Revenue Board that amounted to RM3.98bil for the years of assessment 2015 to 2017.

Press Metal turned in a net profit of RM121.51mil for the third quarter ended Sept 30, down 25.2% from RM162.49 million in the year-ago quarter.

Genting posted a net profit of RM305.68mil for the third quarter ended Sept 30 against a net loss of RM275.8mil in the same period last year owing to lower net impairment losses in the quarter.

JF Apex said Dutch Lady, UMW, Supermax, Tropicana, Affin Bank, Karex saw their quarterly earnings decline year-on-year, whilst Genting Malaysia, DRB-Hicom, Heineken, KPJ Healthcare, LITRAK, Velesto, KPS, SOP posted better year-on-year quarterly net profits.

Overnight, European stocks declined due to uncertainty on the US-China trade deal after President Trump signed legislations supporting Hong Kong protestors.

Meanwhile, UK Prime Minister Boris Johnson is expected to win the election on Dec 12. US markets were closed for Thanksgiving holiday.

“Following the recent sideways trend, the FBM KLCI could hover between the support and resistance levels of 1,570 and 1,615 points respectively, ” JF Apex said.

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7-Eleven , Caring Pharmacy , TNB , Tenaga


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