Trading ideas: E&O, TDM, TH Plantations, FSBM, JHM, Poh Huat


  • Analyst Reports
  • Thursday, 02 Jan 2020

KUALA LUMPUR: EASTERN & ORIENTAL BHD (E&O), TDM Bhd, TH Plantations Bhd, FSBM HOLDINGS BHD, JHM CONSOLIDATION BHD, Poh Huat Resources Holdings Bhd and BORNEO OIL BHD are among the stocks to watch on Thursday, according to JF Apex Research.

E&O and Mitsui Fudosan Co Ltd have inked a joint-venture (JV) agreement to develop luxury residences with a gross development value of RM348mil in Damansara Heights.

TDM plans to buy a 70% stake in THP-YT Plantation Sdn Bhd from TH Plantations for RM7mil to expand TDM's oil palm plantations in Terengganu.

FSBM Holdings has lapsed into Practice Note 17 status after its auditor expressed a disclaimer of opinion on its audited financial statements for FY18.

JHM plans to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia, saying it has met requirements for the transfer.

Poh Huat's 4QFY19 net profit fell 28.9% year-on-year, on lower contribution from both its Malaysian and Vietnamese operations, as well as lower other income.

Borneo Oil is planning to raise up to RM30.56mil via private placement of up to 10% of its total issued shares to third party investors to be identified, to fund its limestone operations.

Meanwhile, US markets climbed on Tuesday led by energy and materials counters after coming off record high levels on Monday.

In contrast, European stocks declined from all-time highs as markets in Germany, Italy and Switzerland were closed.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain sideways below the resistance of 1,600 points, ” JF Apex said.

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E&O , FSBM , Poh Huat

   

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