Trading ideas: MAHB, BAuto, Magni-Tech, LFE, TSR Capital


KUALA LUMPUR: Stocks to watch on Wednesday include Malaysia Airports Holdings Bhd (MAHB), Bermaz Auto Bhd, Magni-Tech Industries Bhd, LFE Corp Bhd and TSR Capital Bhd, according to JF Apex Research.

MAHB saw its passenger traffic grow 6% in November to 11.5 million from 10.84 million last year.

Its Malaysian airports alone saw 4.7% growth in passenger movements to 8.64 million in

November from 8.25 million in the same month last year, with KLIA terminals passenger movements growing 3.6% to 5.14 million from 4.96 million previously.

Bermaz Auto Bhd’s net profit fell 72.42% in the second quarter ended Oct 31,2019 (2QFY19) to RM20.39mil from RM73.92mil, largely due to lower contribution from domestic operations, as well as from its associate company Mazda Malaysia Sdn Bhd.

Magni-Tech’s net profit jumped 29% to RM29.87mil for the second quarter ended Oct 31,2019 (2QFY19) from RM23.21mil a year earlier, amid higher revenue and lower operating costs.

LFE Corp Bhd has won a RM19.1mil contract to undertake structural works for the carpark and podium of a service apartment in Damansara.

TSR Capital Bhd's shareholders gave the nod for the related-party disposal of 70% in its 17-storey flagship Menara TSR to a company linked to its deputy executive chairman Tan Sri Lim Kang Yew.

Overnight, US markets declined following uncertainties on the US-China trade pact ahead of this Sunday's deadline while investors expect the Federal Reserve to hold interest rate.

Similarly, European stocks ended negative ahead of UK's general election on Thursday.

“Following the negative performances in the US and Europe, the FBM KLCI could remain lacklustre with support at 1,550 points, ” JF Apex said.

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